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January 9, 2013 Sign up Forward Archive   Top Stories  Quick action is now expected from Bank of Japan    Reuters A boost in the Bank of Japan's $1 trillion asset buying and lending program is probably in store this month, sources say, as the central bank steps up efforts in parallel with the new government to pry the country out of deflation. The BOJ is expected double its inflation target in a situation complicated by weak price trends in Japan and a "highly uncertain" outlook for overseas economies, one of the sources said. Reuters (1/8)      Eurozone businesses are more upbeat, but joblessness rises again Although eurozone business confidence continued to improve in December, unemployment climbed to a record 11.8% amid subdued holiday spending. "A growing number of businesses are beginning to see light at the end of the tunnel, but consumers remain very gloomy," observed Martin Van Vliet, an economist at ING in Amsterdam. Van Vliet and others see the region's economy remaining mired in 2013, with little hope of recovery in consumer spending. Reuters (1/8)      German economy might have contracted in 4th quarter, data indicate Declines in German imports and exports in November as well as industrial orders added to evidence that the final quarter of 2012 might have been a period of contraction for the leading eurozone economy. If so, the generally favorable outlook for 2013 might be tempered by a slow start. Reuters (1/8)      Sources report Lew is likely choice for next U.S. Treasury chief    Lew/Reuters The successor to U.S. Treasury Secretary Timothy Geithner might be the current White House chief of staff, Jack Lew, sources say. Lew is said to have helped supervise White House strategy during recent budget negotiations while keeping Wall Street executives up to date. Bloomberg (1/8)      AIG may contest terms of U.S. bailout American International Group directors this week are to consider whether to join a lawsuit against the federal government in connection with the 2008-09 Wall Street bailouts, in which AIG was one of the biggest recipients. The $25 billion suit maintains that terms accompanying the aid were too burdensome. The Wall Street Journal (1/8)      Live broadcast from the India Investment Conference 10 January 2013, 8:00 pm PST. Convert time zone here. Investing in the New Financial Order Mr. Roger Urwin Global Head of Investment Content, Towers Watson Topics: New normal, new practices, and new "isms" in the future of finance and the financial ecosystem. Learn more.   Market Activities  INTERNATIONAL MARKETS OVERVIEW European investors noted a decline in German exports, and investors on both sides of the Atlantic struck a note of caution Tuesday before a string of U.S. corporate earnings reports. The Stoxx Europe 600 edged down 0.13% to 286.25, and the S&P ended the day 0.32% lower at 1,457.15. Here is a continuously updated list of global stock indexes. The Wall Street Journal (1/9) , Bloomberg Businessweek (1/8) , CNNMoney (1/8)      Asia shares decline Preparing for coming U.S. corporate earnings reports and cuing off Monday's decline on Wall Street, investors across Asia sold Tuesday to secure profits after recent run-ups. The Nikkei fell 0.86% to 10,508.06, the Hang Seng dropped 0.94% to 23,111.19, the Kospi lost 0.66% to 1,997.94, and the S&P/ASX was off 0.57% to 4,690.20. MarketWatch (1/8)      Live Webinar Meeting the Global Challenge of Funding Retirement: A Case Study of Financial Engineering in the Design and Implementation of a "Next-Generation" Solution Featuring Nobel laureate Robert C. Merton Thursday, 10 January 2013 9:00 a.m. GMT (London) 5:00 p.m. HKT (Hong Kong)   Economic Trends & Outlook  India isn't alarmed as Fitch affirms negative outlook    Reuters Fitch Ratings now says India's fiscal situation is more worrying than economic factors as it maintains its negative outlook for the country's sovereign rating. In response, Department of Economic Affairs Secretary Arvind Mayaram said there was no reason to worry, adding that "we have been saying we are on right track, but people still distrust us and ask whether we will able to achieve fiscal deficit target. ... We will adhere to fiscal consolidation roadmap." The Wall Street Journal (1/8) , The Hindu (India)/Press Trust of India (1/8)      India rates high as place to invest, poorly for economic risk Although investors remain concerned about Indian tax issues, they view the country favorably as a place to invest, according to a Deloitte survey. However, a report by the World Economic Forum ranks India second worst in the world for economic risk among major economies, with only Russia rated lower. The Economic Times (India)/Press Trust of India (1/8) , The Hindu (India)/Press Trust of India (1/8)      Fears of China debt risk grow as official lending figures drop China's bank loans last month were probably down 14% from a year before, a development that analysts believe may point to growing dangers posed by credit risk from alternative lending. One problem is that the lending data available appear less capable of yielding a true picture of the overall debt situation in China. Bloomberg (1/8)      4% gain is predicted for 1st-quarter South Korean exports    Reuters An Export-Import Bank projection for South Korea's exports this quarter pegs a likely gain of 4% from a year before, anticipating stimulus help from the new government. Meanwhile, new government data show a surge in Korean exports to emerging markets, which now account for nearly three-quarters of all exports. Yonhap News Agency (South Korea) (1/8) , The Korea Herald (Seoul) (1/8)      Indonesian consumers begin to worry about economy Job security and income worries tempered consumer sentiment in Indonesia last month, according to a Bank of Indonesia survey. The index fell to 116.4 from the record 120.1 recorded in November. The Business Times (Singapore) (1/8)      Australia's trade deficit grows Despite a gain in Australia's iron ore shipments, the country's trade deficit widened in November to its biggest gap in nearly five years. It was the 10th consecutive month of trade deficits, but economists see stabilization in months ahead with gains in imports and exports alike. Bloomberg Businessweek (1/7) , The Sydney Morning Herald (Australia)/Australian Associated Press (1/8)      Fitch: More Philippine investment is needed to sustain growth Noting the Philippines' strong performance in 2012, Fitch Ratings says it remains uncertain whether the pace can be sustained. Of particular concern is the rate of investment, which Fitch director Philip McNicholas says "must be improved, with the view towards creating a longer-term uplift in the GDP trajectory." Business World (Philippines) (1/8)        Capital Markets & Financial Products  China grants additional RQFII quotas to 2 houses China has selected the Hong Kong arms of China Asset Management and E Fund Management to be granted an additional quota of 800 million yuan each for their Renminbi Qualified Foreign Institutional Investor fixed-income products. This raises their totals to 2 billion and 1.9 billion yuan, respectively. AsianInvestor.net (1/8)      More active China mainland IPO market is seen China's mainland IPO market is expected to show new life this year, with perhaps 200 listings raising 130 billion yuan, up from 155 listings in 2012, predicts PricewaterhouseCoopers. Noting about 830 enterprises waiting to list on the Shanghai and Shenzhen markets, PwC China and Hong Kong managing partner Frank Lyn said, "These enterprises point toward an active IPO market in 2013, but their fundraising plans are subject to economic and political trends and market confidence." Shanghai Securities News (1/8)      Short-sale volumes to be posted by Singapore Exchange Daily short-sale volumes for every counter will be on tap from the Singapore Exchange beginning in March. The transparency move, which will involve tagging as a short any sale in which the seller does not own the shares, "will enable investors to make better-informed investment decisions," the exchange said. The Business Times (Singapore) (1/8)        Industry & Regulatory Update  Funding snag complicates HSBC's sale of Ping An stake A loss of funding by Thailand's CP Group is causing a hitch in HSBC's planned sale of its 15.6% stake in China's Ping An Insurance. Financial Times (tiered subscription model) (1/8)      JP Morgan Asset Management outlines Asia-Pacific plans Australia, Southeast Asia and China are all on the agenda as JP Morgan Asset Management looks to expand in the region. Plans include the company's first exchange-traded fund in China and entry into Australia's mutual fund market. AsianInvestor.net (1/8)      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 Industry Home Readers' Choice Search Archive Download a SmartBrief Mobile app today       Recent CFA Institute Financial NewsBrief: Asia Pacific Edition Issues: Tuesday, January 08, 2013 Monday, January 07, 2013 Friday, January 04, 2013 Thursday, January 03, 2013 Wednesday, January 02, 2013     Lead Editor:   Jim Berard       Mailing Address: SmartBrief, Inc.®, 555 11th ST NW, Suite 600, Washington, DC 20004     © 1999-2013 SmartBrief, Inc.®  Legal Information