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| Top Stories
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- Asia's slowdown may be near an end
The latest batch of purchasing managers' indexes from across Asia, though not entirely consistent, points to improved activity for the region. With notable exceptions in Taiwan and resource-driven Australia, output and exports are picking up and showing promise for the remainder of the year. "More investor-friendly financial policies in the eurozone and the U.S. in September have released pent-up demand, and that will support activity in the fourth quarter," commented Tim Condon, ING's chief economist and head of research for Asia. The Wall Street Journal
(11/1)
    
- U.S. jobless data point to improved hiring
U.S. claims for jobless benefits declined a sharper-than-expected 9,000 to 363,000 last week, suggesting that a slight recent pickup in hiring is being sustained. The four-week moving average was also lower, at 367,250. Both readings were below the 400,000 level at which economists believe employment is improving. Chicago Tribune/Reuters(tiered subscription model)
(11/1)
- In U.S. and U.K., economic crisis policies are found wanting
A prominent U.S. fund manager and a U.K. government study criticized economic crisis policies on both sides of the Atlantic, saying they are ineffective or inadequate. In the U.S., Pacific Investment Management chief Bill Gross said the Federal Reserve's quantitative easing is failing to spur "corporations to invest in future production." And in London, Lord Heseltine warned that the government's tax cuts and deregulation fall well short of the "war psychology" needed to revive the economy. Bloomberg
(11/1)
, The Business Times (Singapore)/Reuters
(11/1)
- U.K. manufacturing slump deepens
U.K. manufacturing took a turn for the worse in October, even after a downwardly revised figure for September. The CIPS/Markit Purchasing Managers' Index came in at 47.5, down from the revised 48.1 the previous month. The deepening contraction may open the way for more stimulus by the Bank of England. CNBC
(11/1)
| Market Activities
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- China manufacturing numbers buoy Asian markets
Strong PMI figures out of China helped lift shares across much of Asia, although tech shares took a hit from Panasonic's shocking projected loss for the year. Despite that, the Nikkei edged up 0.21% to 8,946.87 while the Hang Seng rose 0.83% to 21,821.87, the Kospi fell 0.71% to 1,898.44, and the S&P/ASX dropped 1.32% to 4,457.60. MarketWatch
(11/1)
| Economic Trends & Outlook
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- India's Chidambaram meets with FIIs
Representatives of such major foreign institutional investors as Bank of America Merrill Lynch, BlackRock, Goldman Sachs and private equity fund T. Rowe Price met Thursday with Indian Finance Minister P. Chidambaram. The gathering came in the context of a range of measures undertaken by the government to attract more foreign investment. "FIIs met me, and I updated them on where we see the economy going and what steps we are taking," Chidambaram said after the meeting. The Economic Times (India)/Press Trust of India
(11/1)
, The Hindu (India)
(11/1)
- South Korean exports rise, widening October surplus
South Korea's trade surplus rose to US$3.8 billion last month, improving on September's US$3.15 billion and more than doubling the year-earlier figure. Total exports edged up 1.2% to US$47.2 billion in October. "Despite a delayed recovery of demands in key markets, the country's exports increased slightly from the same period last year due to growing shipments to Southeast Asian countries and China," the Ministry of Knowledge Economy said. The Korea Herald (Seoul)/Yonhap News Agency
(11/1)
- Taiwan, Barclays scale back 2012 growth outlook
Both Barclays and Taiwan's Directorate General of Budget, Accounting and Statistics reduced their 2012 GDP growth forecasts for the country to a little more than 1% after a weaker-than-expected third quarter. The latest period saw year-on-year growth of 1.02%, short of forecasts of about 1.5%. "In the third quarter, the drag on growth came from consumption," said Leong Wai Ho, a Singapore-based economist at Barclays Capital. The Taipei Times (Taiwan)
(11/2)
, China Economic News Service (Taiwan)
(11/1)
- Australian manufacturing index rises, but contraction persists
A key Australian manufacturing index climbed to 45.2 last month but remained well below an expansionary level as the nation's strong currency and higher energy costs weighed on the sector. "Manufacturers continue to find the going very tough in the face of the strong [Australian] dollar, weaker demand in export markets and flat conditions across the non-mining sectors of the domestic economy, particularly in commercial and residential construction which has strong linkages with domestic manufacturing," said Innes Willox, chief of Ai Group, which compiles the index. Xinhuanet.com (China)
(11/1)
| Capital Markets & Financial Products
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| Industry & Regulatory Update
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| People & Personalities
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- Richard Hu Tsu Tau leaving GIC board
Richard Hu Tsu Tau is stepping down from the board of the Government of Singapore Investment Corp. at the end of the month. Hu's appointment to the board in 1981 when he was chief executive of Shell Group was the first GIC board appointment that drew from the private sector. The Business Times (Singapore)
(11/1)
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CFA Institute Financial NewsBrief: Asia Pacific Edition Issues:
- Thursday, November 01, 2012
- Wednesday, October 31, 2012
- Tuesday, October 30, 2012
- Monday, October 29, 2012
- Friday, October 26, 2012
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