 |
| Top Stories
|  |
| |
 |
- Markets not reflecting U.S., European risks, Roubini says
Risks to the global economy should not be discounted even though they are not registering in world stock markets, which have been rallying in recent weeks, warned New York University's Nouriel Roubini. The economist notes particular danger in the eurozone's determination to proceed with economy-hobbling austerity measures. Across the Atlantic, meanwhile, "markets are underestimating how much the sequester and the gridlock in the United States could have negative effects on the economy and eventually on the market," Roubini said. Bloomberg Businessweek
(3/4)
    
- China's nonmanufacturing sector slows
Shortly after reporting a disappointing manufacturing index for February, China posted a 54.5 purchasing managers' index for the nonmanufacturing sector, down 1.7 points from January. The figure remains above the 50 break-even level but represents declines for overall new orders as well as new export orders, the China Federation of Logistics and Purchasing said. China Daily (Beijing)
(3/4)
| Reader Survey
|  |
|
-
What will the next major financial market mover be (i.e., effects lasting for 1 year+)?
 | A macroeconomic event, like a sovereign debt crisis or inflation |
| A central bank action, like more QE or no more QE |
| A change in corporate profits (up or down) |
| An announced technological revolution, like a new computing technology or biotechnology |
| A political event, like a U.S. government shutdown or a shift in the EU's makeup |
| A geopolitical event, such as an incident in the South China Sea or in the Middle East |
| A random, unforeseeable event |
| Market Activities
| |
|
- INTERNATIONAL MARKETS OVERVIEW
European stocks ended marginally lower Monday, with China's move to tamp down its property market and continuing budget skirmishes in the U.S. weighing on sentiment. The Stoxx Europe 600 edged down 0.04% to 288.89. In the U.S., however, investors breathed a sigh of relief as budget sequestration took hold and the economy appeared to remain intact. The S&P 500 rose 0.46% to close at 1,525.20. Here is a continuously updated list of global stock indexes. The Wall Street Journal
(3/5)
, MarketWatch
(3/4)
, CNNMoney
(3/4)
- Japanese shares gain as other Asian markets slide
China's move to cool the nation's property market was felt across Asian markets Monday, with the exception of Japan, where spirits were lifted by further strong indications of anti-deflation policies. The Nikkei rose 0.40% to 11,652.29 while the Hang Seng fell 1.50% to 22,537.81, the Kospi lost 0.66% to 2,013.15 and the S&P/ASX slid 0.55% to 5,058.10. Bloomberg
(3/4)
- New real estate policies pull plug on Chinese property shares
China's crackdown on the country's overheating real estate market bore fruit Monday as property stocks took a hit. The Shanghai Stock Exchange Property Index saw its biggest drop since 2008, plunging 9.3% for the day. "The measures are much stronger than expected and will have more longer-term implications on the market," said Zhao Zhenyi, a Shanghai-based property analyst at Industrial Securities. Bloomberg
(3/4)
| Economic Trends & Outlook
| |
|
- China central bank not yet worried about inflation
The People's Bank of China sees little threat from inflation this year, which may pick up a bit from last year's 2.6% but is likely to remain manageable, said bank Vice Governor Yi Gang. Analysts, however, haven't been quite so sanguine, noting that monetary easing in major world economies and rising costs in China pose an upside risk. Caijing Magazine online
(3/4)
- South Korea tops Italy, ascends to 8th-largest trading nation
Despite a 1.1% decline in imports and exports last year, South Korea surpassed Italy for the first time to emerge as the world's eighth-largest trading nation, according to World Trade Organization figures. The 2012 ranking is just the latest step for South Korea, which ranked 13th in 2000, 11th in 2007, 10th in 2009 and ninth in 2010. The Korea Herald (Seoul)
(3/4)
- South Korean inflation eases, but outlook is for price surge
South Korean consumer prices were up 1.4% in February from a year before, easing from a 1.5% increase in January. The central bank now is considered to have additional room for easing if needed, but the outlook might be less rosy. "Price pressure is set to rise on the back of both stronger demand and supply constraints. This will gradually create a tightening bias for the Bank of Korea, with headline CPI likely to rise sharply around midyear," said Ronald Man, a Hong Kong-based analyst at HSBC Holdings. Bloomberg Businessweek
(3/3)
- ASEAN economies may not be the next BRIC after all
After an inglorious decline for the once-hailed BRIC economies, some analysts have taken up the banner for nations as the new BRIC. But many of the problems that beset Brazil, Russia, India and China are duplicated in their Association of Southeast Asian Nations counterparts, writes Aavishkaar Venture Fund co-founder V. Anantha Nageswaran, and "those who call for Asean's rise to pre-eminence have missed the asset price boom already." LiveMint.com/The Wall Street Journal (India)
(3/4)
| Capital Markets & Financial Products
| |
|
- Asian funds of hedge funds bled assets in 2012 as performance ebbed
Disappointing performance is believed to be behind a sharp 50% drop in assets invested in Asian funds of hedge funds in the past year, as documented by Preqin. "Investors who are looking to maintain their current allocation to fund of hedge funds are also shifting away from smaller boutique Asia-Pacific-based FoHF managers and are instead looking to invest with more established North American managers that still offer exposure to Asia-Pacific-based hedge funds," said Ross Ford, manager of hedge fund profiles for Preqin. AsianInvestor.net
(3/4)
- Japan re-emerges as top foreign holder of U.S. securities
With US$1.8 trillion in holdings of U.S. securities as of last June, Japan topped China as the world's leading foreign holder, according to figures from the U.S. Treasury Department. At that time, Japan held US$314 billion in U.S. equities, US$63 billion in short-term debt securities, US$200 billion in asset-backed securities and US$259 billion in long-term debt securities. Yomiuri Shimbun (Japan)/Jiji Press
(3/2)
| Industry & Regulatory Update
| |
|
- Taiwan's FSITC is penalized over stock manipulations
Citing stock manipulations by three former fund managers, Taiwan's Financial Supervisory Commission ordered state-run First Securities Investment Trust Co. to provide a plan for compensating harmed investors and suspended it from launching new funds. "FSITC should also examine its internal control mechanism in two weeks and file a report on how it plans to improve," the commission said. The Taipei Times (Taiwan)
(3/5)
| |
| |
|
Read more at
SmartBrief.com |
|
|
|
| |
| |
| | Recent
CFA Institute Financial NewsBrief: Asia Pacific Edition Issues:
- Monday, March 04, 2013
- Friday, March 01, 2013
- Thursday, February 28, 2013
- Wednesday, February 27, 2013
- Tuesday, February 26, 2013
| | | Lead Editor:
Jim Berard
Mailing Address:
SmartBrief, Inc.®, 555 11th ST NW, Suite 600, Washington, DC 20004 | |
| |
|
| © 1999-2013 SmartBrief, Inc.®
Legal Information |
|
