Reading this on a mobile device? Try our optimized mobile version here: http://r.smartbrief.com/resp/ebwKCfbwoceVgnlpupfo

December 7, 2012
Sign upForwardArchive


  Top Stories 
  • Investment schemes spark fear of trillions at stake in China
    NO IMAGE FOUNDFears have been ignited in China over the possibility of widespread Ponzi schemes that could amount to trillions of dollars. The focus is on so-called wealth management products, popular but unregulated vehicles that promise a certain rate of return and claim to invest in enterprises as diverse as auto companies and pawnshops. Police and regulators are investigating after investors in one such fund protested this week at a branch of Huaxia Bank in Shanghai. AsianInvestor.net (12/6) LinkedInFacebookTwitterEmail this Story

  • ECB keeps low rates steady
    Keying on more favorable economic news and lower borrowing costs for troubled eurozone states, the European Central Bank kept its deposit rate at zero and the marginal lending facility at 1.5%. The calmer mood stems from bank President Mario Draghi's bond-buying pledge in September. That commitment remains untested, however, and "at some point in time, the ECB will have to prove that the new bond-buying program is more than only an illusionary giant," said Carsten Brzeski, senior economist at ING Bank. RTT News (12/6) LinkedInFacebookTwitterEmail this Story
  • Greece now at selective default, S&P says
    Greece's recent debt-buyback auctions are equivalent to default, as reckoned by Standard & Poor's, which has now downgraded Greek debt from CCC to selective default. However, S&P held out the possibility that the Greek rating will be restored to CCC when the buyback is completed later this month. Separately, Greece reported its jobless rate rose to a record 26% in September. Xinhuanet.com (China) (12/6) , Reuters (12/6) LinkedInFacebookTwitterEmail this Story
  • Eurozone integration proposals are modest
      
    Van Rompuy/Reuters
    Plans unveiled Thursday for closer ties in the eurozone revealed caution, apparently in deference to Berlin's concerns that German taxpayers might be stuck supporting their counterparts elsewhere in the zone. A single zonewide bank supervisor is urged, to be in place by 2014. But missing were expected proposals for a central fund to deal with economic shocks and a bank-deposit guarantee mechanism that would span the currency region. The Wall Street Journal (12/6) LinkedInFacebookTwitterEmail this Story

  • Bank of England decides on no more quantitative easing for now
    With the U.K. economy poised between growth and contraction and questions arising about the effectiveness of the Bank of England's quantitative easing, the central bank has decided not to extend the program. The BOE also decided to leave interest rates at the record-low 0.5%. BBC (12/6) LinkedInFacebookTwitterEmail this Story
  • U.S. jobless benefit claims drop more than forecast
    First-time claims for U.S. unemployment benefits fell a larger-than-expected 25,000 last week to 370,000, helped in part as effects of Hurricane Sandy ceased to be reflected in the data. "With this number, we are pretty much back to where we were before the hurricane. Layoffs are lingering at the same pace. Hiring remains relatively anemic," said Guy Berger, an economist at RBS Securities in Stamford, Conn. Bloomberg (12/6) LinkedInFacebookTwitterEmail this Story
CAREERS at CFA Institute
Director, Curriculum Projects
Director, Regulator and Program Recognition
  Market Activities 
  • INTERNATIONAL MARKETS OVERVIEW
    Investors in Europe keyed on strong German factory orders, and U.S. investors favored a strong tech sector as markets on both sides of the Atlantic scored modest gains Thursday. The Stoxx Europe 600 ended the day 0.69% higher at 278.82, and the S&P 500 rose 0.33% to 1,413.94. Here is a continuously updated list of global stock indexes. The Wall Street Journal (12/7) , The Wall Street Journal (12/6) , CNNMoney (12/6) LinkedInFacebookTwitterEmail this Story
  • Japanese shares stand out as Asian markets drift
    Japanese shares gained on expectations of economic stimulus, but stocks elsewhere in Asia searched for direction Thursday. The Nikkei rose 0.81% to 9,545.16, the Hang Seng edged down 0.09% to 22,249.81, the Kospi was up 0.13% to 1,949.62 and the S&P/ASX was down 0.25% at 4,509.30. MarketWatch (12/6) LinkedInFacebookTwitterEmail this Story
Assessing the Relative Value of Stocks, Bonds, and Other Asset Classes
Join us for a complimentary live online session with Jeremy J. Siegel from the 15th Annual Equity Research and Valuation conference.

7 December 2012
11:30 a.m. EST-12:30 p.m. EST
  Economic Trends & Outlook 
  • Poll points to weaker China exports in November
      
    Reuters
    Expectations of export-driven stabilization in China's economy might be shaken by November export data, as suggested in a Reuters poll. "In November, with the seasonal orders to the U.S. mostly completed and a less favorable base from last year, we expect much weaker export growth," said a recent note to clients from Shen Jianguang, China economist at Mizuho Securities in Hong Kong. The Business Times (Singapore) (12/6) LinkedInFacebookTwitterEmail this Story


  Capital Markets & Financial Products 
  • Building anticipation moves Japanese bond market
    As the market anticipates imminent easing by the Bank of Japan and with new polls showing opposition Liberal Democratic Party leader Shinzo Abe likely to win elections, government bond yields plunged Thursday. "The market is thinking that if the LDP is able to gain a majority by itself, then it won't be constrained in applying pressure for more easing," said Akitoshi Masuda, executive portfolio manager at DIAM. The Wall Street Journal (12/6) LinkedInFacebookTwitterEmail this Story
  • BNP offers custody stock trading in Asia
    Investors soon will have the option of trading blue-chip stocks on the "international board" of the London and Singapore stock exchanges using a custody service from BNP Paribas. Financial Times(tiered subscription model) (12/6) LinkedInFacebookTwitterEmail this Story
  Industry & Regulatory Update 
  • South Korea opens door wider for big foreign companies to list
    Large and secure foreign companies will have an easier time listing on the South Korea stock market after the Financial Services Commission lowered the bar for entry. "We will be flexible as much as possible in adopting policies to attract promising foreign companies within the boundary of the existing laws," an FSC official said. MK.co.kr (South Korea) (12/6) LinkedInFacebookTwitterEmail this Story
  Ethics & Standards 
  • HSBC's U.S. fine is reported to be US$1.8 billion
      
    Reuters
    Sources say HSBC will pay US$1.8 billion as part of its settlement with U.S. authorities in a money-laundering scandal. The full nature of the final resolution of the case is seen as a signal to other banks of how seriously the U.S. intends on act on future cases of illicit money movements. The Business Times (Singapore) (12/6) LinkedInFacebookTwitterEmail this Story

  • StanChart to pay additional penalty in Iran sanctions case
    After paying US$340 million in penalties to New York state regulators last quarter, Standard Chartered now expects to pay nearly that much again -- US$330 million -- to U.S. federal regulators over the bank's noncompliance with sanctions against Iran. The penalty will lower StanChart's 2012 result, which nonetheless is expected to be a record for the 10th year running. The Economic Times (India)/Reuters (12/6) LinkedInFacebookTwitterEmail this Story
Learn more about CFA ->About CFA Institute  |  Advertise  |  Educational Resources  |  Social Media

 
 
Subscriber Tools
   
Print friendly format  | Web version  | Search past news  | Archive  | Privacy policy

 
Read more at SmartBrief.com
 
 
 Recent CFA Institute Financial NewsBrief: Asia Pacific Edition Issues:   Lead Editor:   Jim Berard
     
Mailing Address:
SmartBrief, Inc.®, 555 11th ST NW, Suite 600, Washington, DC 20004
 
 
© 1999-2012 SmartBrief, Inc.®  Legal Information