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06 July 2010 @ 12:25 pm

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*Markets*	Last Price (Value)	1 Day Change %	*Currencies*	Last Price (Value)	1 Day Change %
Dow Jones Industrial	9686.48	-0.47316	JPY/USD	0.011383	0.1054
Nasdaq	2091.79	-0.45542	GBP/USD	1.5169	-0.1711
S&P 500	1022.58	-0.46624	AUD/USD	0.843	0.1663
MSCI World	1036.62	0.05212	CHF/USD	0.9378	0.3412
MSCI Europe	82.25	-0.03646	CAD/USD	0.9424	-0.1167
S&P Toronto Composite	11196.06	-0.87087	SGD/USD	0.7177	0.0836
Shanghai Composite Index	2382.901	0.383732	IDR/USD	0.110436	-0.2526
Hang Seng Index	19905.32	-1.11118	MYR/USD	0.3104	-0.1933
Nikkei	9228.61	0.270543	THB/USD	0.03086	-0.013
Straits Times Index	2844.19	0.845285	VND/USD	5.2439	-0.1068
Jakarta Composite Index	2871.554	-0.09373	PHP/USD	0.021492	-0.1303
Bursa Malaysia Index	1307.44	-0.10086	MYR/SGD	0.4322	-0.1388
Thailand Index	802.57	0.659718	AUD/SGD	1.1748	-0.2979
Vietnam Index	503.65	-0.07341	EUR/SGD	1.746	0.1661
Philippine Index	3290.98	-0.73237
Gold USD/oz	1211.25	-0.02889
Crude oil spot	73.25	0
Manulife	15.41	-0.2589

(Source: Extracted from Bloomberg)

Asian markets close mixed, with miners in Australia gaining
Share markets across the Asian-Pacific region were mixed Friday as investors awaited employment data from the U.S. Japan's Nikkei 225 inched up 0.1%, Australia's S&P/ASX 200 was unchanged and South Korea's Kospi Composite gave up 0.9%. China's Shanghai Composite gained 0.4%, Hong Kong's Hang Seng Index dropped 1.1% and New Zealand's NZX 50 added 0.2%. Taiwan's Taiex went up 1.1% and Singapore's Straits Times Index climbed 0.6%, while India's Sensex rose 0.2% in afternoon trading. The Wall Street Journal (02 Jul.)

Emerging-market companies accelerate bond sales
Emerging-market companies are bolstering their debt sales, while corporate borrowing in Europe and the U.S. slumps. Investors are shifting their funds to corporate bonds from the most rapidly growing nations. "You have a combination of substantially bigger growth today in emerging markets than in developed markets, and the appetite to take on debt in those emerging markets is very different," said Carlos Garcia Moreno, chief financial officer of America Movil. Bloomberg (01 Jul.)

IMF studies creation of a global emergency fund to cope with crises
The International Monetary Fund and major economic powers are considering creating an emergency fund that could act as a safety net for nations in crisis. If the proposal goes forward, it could transform the IMF from an institution that reacts to crises to one that anticipates them and intervenes to prevent them from deepening and spreading. The Washington Post (02 Jul.)

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30 June 2010 @ 11:25 am

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*Markets*	Last Price (Value)	1 Day Change %	*Currencies*	Last Price (Value)	1 Day Change %
Dow Jones Industrial	9870.3	-2.64555	JPY/USD	0.011297	-0.0797
Nasdaq	2135.18	-3.84887	GBP/USD	1.5033	-0.2257
S&P 500	1041.24	-3.10171	AUD/USD	0.848	-0.0825
MSCI World	1048.09	-3.1868	CHF/USD	0.9235	0.0758
MSCI Europe	84.57	-2.99381	CAD/USD	0.9468	0.0211
S&P Toronto Composite	11263.83	-2.95658	SGD/USD	0.7113	0.2109
Shanghai Composite Index	2427.053	-4.26876	IDR/USD	0.109921	0.4412
Hang Seng Index	20248.9	-2.30515	MYR/USD	0.3058	0.5232
Nikkei	9362.31	-2.17707	THB/USD	0.030826	0.1395
Straits Times Index	2830.34	-1.38154	VND/USD	5.2487	0.1829
Jakarta Composite Index	2893.371	-2.10983	PHP/USD	0.021459	-0.1258
Bursa Malaysia Index	1319.84	-0.43001	MYR/SGD	0.4301	0.3953
Thailand Index	799.09	-0.66012	AUD/SGD	1.1923	-0.1426
Vietnam Index	510.71	0.676155	EUR/SGD	1.7125	-0.1577
Philippine Index	3372.71	0.261898
Gold USD/oz	1242.69	0.16443
Crude oil spot	77.67	0
Manulife	15.38	-5.35385

(Source: Extracted from Bloomberg)

Chinese shares plunge, dragging down other Asian markets
Asian share markets fell Tuesday, led by a decline on Chinese indexes. China's Shanghai Composite dropped 4.3%, Japan's Nikkei 225 shed 1.3% and Australia's S&P/ASX 200 slid 0.9%. South Korea's Kospi Composite gave up 1.4%, Hong Kong's Hang Seng Index dropped 2.3%, New Zealand's NZX 50 fell 0.6% and Taiwan's Taiex slipped 1%. In afternoon trading, shares in Indonesia were down 2.5%, India's Sensex slid 1.7% and Singapore's Straits Times Index lost 1.5%. The Wall Street Journal (29 Jun.)

China expects revenue amount to be second only to that of U.S.
China is expected to receive fiscal revenue totaling $1.18 trillion by the end of this year, state broadcaster CCTV reported. The amount would make China the world's second-largest economy ranked by fiscal revenue, after the U.S. China Daily (Beijing) (29 Jun.)

Analysis: China and Taiwan sign a historic trade deal
Taiwan and China signed the long-awaited Economic Co-operation Framework Agreement, which will lower tariffs on the exchange of more than 800 goods and services. It is by far the most important agreement between the regions since Communists chased the Kuomintang from the mainland in 1949, according to The Economist. "Taiwan received especially nice treatment, better than China was given in return," The Economist notes. The Economist/Newsbook blog (28 Jun.) , Google/The Associated Press (29 Jun.) , Taiwan News/Central News Agency (28 Jun.)

Risk aversion drags 2-year Treasury's yield to historic low
Investors fleeing to the safety of U.S. government debt drove the yield on the two-year Treasury to an all-time low of 0.6014%. The previous record was 0.6044%, reached Dec. 17, 2008, after the Federal Reserve established the target rate for overnight interbank loans in the range of zero to 0.25%. Bloomberg (29 Jun.)

Loan growth in Europe is accelerating, ECB says
As economic growth in Europe has accelerated, so has lending to companies and households, according to the European Central Bank. Private-sector loans increased 0.2% in May compared with the same month last year, after a 0.1% gain in April, the ECB said. Meanwhile, M3 money supply, which is used as an indicator of future inflation, declined. Bloomberg (28 Jun.)

Americans' savings rate rises to highest level in almost a year
Americans pushed up their savings rate last month to 4%, the highest level in nearly a year. Meanwhile, consumer spending increased 0.2% compared with April. Almost all of the economic growth in the U.S. is coming from spending by the government or businesses that are getting stimulus money, analysts said. The Washington Post (29 Jun.) , eCreditDaily.com (28 Jun.)

Fed official is concerned about the central bank's bond purchases
Kevin Warsh, a member of the Federal Reserve Board, voiced concern about the central bank's willingness to bolster the U.S. economy by buying more government bonds or mortgage debt. The idea has been considered as fear continues that the economic recovery will falter. "Any judgment to expand the balance sheet further should be subject to strict scrutiny," Warsh said. "I would want to be convinced that the incremental macroeconomic benefits outweighed the costs." The Wall Street Journal (28 Jun.)

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28 June 2010 @ 10:36 am

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*Markets*	Last Price (Value)	1 Day Change %	*Currencies*	Last Price (Value)	1 Day Change %
Dow Jones Industrial	10143.81	-0.08855	JPY/USD	0.011198	0.0714
Nasdaq	2223.48	0.273291	GBP/USD	1.5062	-0.0066
S&P 500	1076.76	0.28593	AUD/USD	0.8757	0.183
MSCI World	1079.52	-0.26515	CHF/USD	0.9168	-0.1636
MSCI Europe	86.11	-0.58878	CAD/USD	0.9662	-0.0207
S&P Toronto Composite	11707.85	0.322789	SGD/USD	0.723	-0.2905
Shanghai Composite Index	2552.613	-0.00799	IDR/USD	0.110623	-0.4158
Hang Seng Index	20690.79	-0.20595	MYR/USD	0.3106	-0.9015
Nikkei	9684.2	-0.54716	THB/USD	0.030907	-0.0744
Straits Times Index	2852.91	0.044536	VND/USD	5.259	0.1844
Jakarta Composite Index	2947.023	1.129956	PHP/USD	0.021615	0.1295
Bursa Malaysia Index	1325.48	-0.07313	MYR/SGD	0.4298	-0.8143
Thailand Index	793.67	0.060515	AUD/SGD	1.2113	0.0495
Vietnam Index	505.12	-1.28012	EUR/SGD	1.7131	0.1284
Philippine Index	3352.46	0.554594
Gold USD/oz	1257.05	0.115483
Crude oil spot	76.17	-1.24465
Manulife	16.35	0.553506

(Source: Extracted from Bloomberg)

Uncertainty weighs on Asian shares
Uncertainty about the global economy and an effort to reform financial regulation in the U.S. dragged on Asian markets Friday. Taiwan's Taiex fell 1.5% after the central bank increased its policy interest rate. Japan's Nikkei 225 was down 1.9%, while China's Shanghai Composite and New Zealand's NZX 50 slipped 0.5%. Hong Kong's Hang Seng Index shed 0.2%, Australia's S&P/ASX 200 lost 1.5% and South Korea's Kospi Composite dropped 0.6%. India's Sensex was down 0.7% and Singapore's Straits Times Index inched up 0.1% in afternoon trading. The Wall Street Journal (25 Jun.)

World can no longer depend on U.S. to drive growth, Geithner says
U.S. Treasury Secretary Timothy Geithner said the world "cannot depend as much on the U.S. as it has in the past" to fuel economic growth. Global prosperity depends on other major economies doing more to increase their growth, he told BBC. Geithner said the U.S. and Europe aren't as far apart on the issue of deficit reduction as some policymakers have suggested. BBC (25 Jun.)

Analysis: Index-tracking funds don't drive commodity prices
The Organization for Economic Co-operation and Development took a hard look at whether index-tracking funds have been responsible for the wild volatility in agricultural commodity and energy markets since 2007, and it turns out index investors have nothing to do with it. The OECD found that commodities without indexes and indexes without futures markets experienced the same fluctuation. "Indeed, the OECD reckons that [index traders'] larger positions led to lower market volatility," The Economist notes. The Economist (24 Jun.)

Analysis: Peering into a future of paying off debt
The richest economies face some major challenges, having run up a phenomenal amount of debt since the 1950s. The most urgent issue is to figure out how to pay the bill, according to The Economist. In the long term, the global economy must be rebalanced, weaning developed nations off their debt addiction, the magazine adds. "Austerity does not appeal to voters, who may work off their frustrations on politicians and (worse) foreigners," The Economist notes. The Economist (24 Jun.) , The Economist/Buttonwood's Notebook blog (24 Jun.)

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24 June 2010 @ 01:28 pm

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*Markets*	Last Price (Value)	1 Day Change %	*Currencies*	Last Price (Value)	1 Day Change %
Dow Jones Industrial	10298.44	0.047797	JPY/USD	0.011126	0.0719
Nasdaq	2254.23	-0.33469	GBP/USD	1.4988	0.2073
S&P 500	1092.04	-0.29855	AUD/USD	0.8759	0.2289
MSCI World	1095.86	-0.84599	CHF/USD	0.906	-0.1325
MSCI Europe	88.24	-0.96521	CAD/USD	0.9626	-0.0727
S&P Toronto Composite	11807.5	0.081031	SGD/USD	0.7211	-0.0832
Shanghai Composite Index	2569.872	-0.72724	IDR/USD	0.110589	-0.1103
Hang Seng Index	20856.61	0.180267	MYR/USD	0.3107	-0.4184
Nikkei	9922.54	-0.01169	THB/USD	0.030898	0.0129
Straits Times Index	2871.05	-0.04352	VND/USD	5.2701	0
Jakarta Composite Index	2924.79	-0.33391	PHP/USD	0.021763	-0.0965
Bursa Malaysia Index	1329.7	0.47301	MYR/SGD	0.4312	-0.4174
Thailand Index	806.52	0.297216	AUD/SGD	1.2146	-0.1482
Vietnam Index	512.82	0.037064	EUR/SGD	1.7105	-0.1169
Philippine Index	3342.97	-0.26017
Gold USD/oz	1236.15	-0.09698
Crude oil spot	78.34	-1.42192
Manulife	16.4	-0.90634

(Source: Extracted from Bloomberg)

Asian share markets decline after Wall Street sees losses
Asian share markets fell Wednesday, weighed down by losses in energy stocks. Japan's Nikkei 225 dropped 1.9%, Australia's S&P/ASX 200 shed 1.6% and South Korea's Kospi Composite inched down 0.3%. China's Shanghai Composite slid 0.7%, Hong Kong's Hang Seng Index inched up 0.2% and New Zealand's NZX 50 closed flat. Taiwan's Taiex gave up 0.4%, while Singapore's Straits Times Index shed 0.4% and India's Sensex was up 0.2% in afternoon trading. The Wall Street Journal (23 Jun.)

Analysis: Issuance of high-yield bonds is encouraging news for Europe
Remy Cointreau sold more than ?200 million in bonds late last week, the first high-yield issue in Europe in five weeks. The sale was followed by announcements by Hertz Global Holdings and France's SPCM that they will issue bonds. Because Europe's market of high-yield bonds typically opens and closes swiftly, it could be a busy few weeks, according to this Wall Street Journal analysis. The Wall Street Journal (22 Jun.)

U.S. officials urge G-20 to avoid growth-dampening budget cuts
U.S. Treasury Secretary Timothy Geithner and Lawrence Summers, director of the White House National Economic Council, urged leaders from the Group of 20 to keep the economy growing by avoiding significant budget cuts. "We must demonstrate a commitment to reducing long-term deficits, but not at the price of short-term growth," the officials wrote in a Wall Street Journal opinion piece. "Without growth now, deficits will rise further." Bloomberg (22 Jun.) , The Wall Street Journal (23 Jun.)
Bank tax divides G-20 as Toronto meeting nears: Germany, France and Britain formed a united front to demand a global bank tax, driving a wedge between members of the Group of 20 as policymakers prepare to gather in Toronto. The tax is only one of an increasing number of issues over which the G-20 is showing signs of division. Europe and Canada are increasingly at odds with the U.S. about whether nations should embrace austerity or continue stimulus programs. Financial Post (Canada) (22 Jun.) , The Globe and Mail (Toronto) (22 Jun.)

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23 June 2010 @ 10:24 am

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*Markets*	Last Price (Value)	1 Day Change %	*Currencies*	Last Price (Value)	1 Day Change %
Dow Jones Industrial	10293.52	-1.42582	JPY/USD	0.011046	-0.0453
Nasdaq	2261.8	-1.19218	GBP/USD	1.4816	0
S&P 500	1095.31	-1.60708	AUD/USD	0.8718	0.0229
MSCI World	1105.21	-1.36897	CHF/USD	0.9023	0.0887
MSCI Europe	89.1	-0.50251	CAD/USD	0.9713	-0.0103
S&P Toronto Composite	11797.94	-1.15733	SGD/USD	0.7214	0.0832
Shanghai Composite Index	2588.514	-0.00711	IDR/USD	0.110284	0.4434
Hang Seng Index	20819.08	-0.4452	MYR/USD	0.31	0.0323
Nikkei	9934.52	-1.76379	THB/USD	0.030902	0.0777
Straits Times Index	2854.57	-0.61728	VND/USD	5.2715	-0.0664
Jakarta Composite Index	2934.589	-0.24861	PHP/USD	0.021806	0.1055
Bursa Malaysia Index	1320.87	-0.19419	MYR/SGD	0.4294	0.6986
Thailand Index	804.13	-0.24067	AUD/SGD	1.2077	-0.0414
Vietnam Index	512.63	-0.41185	EUR/SGD	1.6999	-0.0118
Philippine Index	3351.69	-0.18434
Gold USD/oz	1239.05	-0.08064
Crude oil spot	79.47	0
Manulife	16.55	-1.5467

(Source: Extracted from Bloomberg)

Asian markets decline, losing sharp gains from previous day
Asian share markets slid Tuesday as investor demand declined after a drop on Wall Street. Japan's Nikkei 225 and Australia's S&P/ASX 200 gave up 1.2%, while China's Shanghai Composite rose 0.1%. South Korea's Kospi Composite, New Zealand's NZX 50 and Hong Kong's Hang Seng Index shed 0.5%. Taiwan's Taiex lost 0.3%, while Singapore's Straits Times Index gave up 0.4% and India's Sensex slid 0.3%. in afternoon trading. The Wall Street Journal (22 Jun.)

China's currency shift is seen as a boost for U.S. exporters
U.S. business executives praised China's decision to bring flexibility to the yuan, saying even a modest increase in value will make U.S. companies more competitive with Chinese firms. Longtime exporters such as Caterpillar and General Electric are likely to be among the big winners, while discount retailers such as Wal-Mart Stores could face higher prices from their suppliers in China, trade experts said. The New York Times (free registration) (21 Jun.) , CNNMoney.com (21 Jun.)

China plans to regulate nonbank third-party payment services
The People's Bank of China will require third-party payment firms that aren't banks to obtain licenses and meet minimum capital requirements, under a rule that takes effect in September. Companies will have one year after implementation to obtain licenses. China has more than 100 online payment firms, industry experts said. China Daily (Beijing) (22 Jun.)

Investment opportunities abound in Asia, insiders say
Foreign investors poured money into Asia in the first five months of 2010, then pulled back. Some insiders said this is the time to invest in specific Asian markets and sectors before the next tsunami of foreign money comes pouring in. "We should take advantage of this 'correction' while it lasts," said Taizo Ishida, lead manager of the Matthews Asia Pacific Fund. Asia "still offers the best investment opportunity for long-term investors. For countries and sectors, we like Japan and selected [Association of Southeast Asian Nations] countries, including India. Indonesia offers a long-term domestic growth story." MarketWatch (21 Jun.)

Analysis: China makes a cautious move toward currency reform
China's plan to change its exchange rate policy should be looked at as a move toward a more sophisticated way of managing the yuan, not a revaluation, according to The Economist. Economists envision that the yuan will increase in value against the U.S. dollar, but the change is not expected to be momentous. "As China's economy evolves over the next few years, weaning itself off investment spending and towards consumption, it now has a suppler exchange rate that can help guide and cushion that process," The Economist notes. The Economist/Newsbook blog (20 Jun.) , Reuters (21 Jun.) , The Globe and Mail (Toronto) (21 Jun.)

IMF: Emerging economies must beware of too much foreign investment
A surge in hot money from foreign investors can expose emerging economies to accelerating inflation and asset-price bubbles, the International Monetary Fund said in a report. The IMF embraced a range of possible responses to the threat, including "temporary price-based capital controls." Xinhuanet.com (China) (21 Jun.) , The Wall Street Journal/Dow Jones Newswires (21 Jun.)

Crisis highlights weaknesses in eurozone, Fitch says
Fitch Ratings said the financial crisis highlighted weaknesses in the economic framework of the eurozone. Those weaknesses left the region particularly vulnerable to an economic downturn, the credit rating agency said. Fitch also said a breakup of the eurozone in the short to medium term is unlikely, but the region likely will experience more episodes of "extreme market volatility" while deficit reduction and the economic recovery are under way. Telegraph (London) (21 Jun.)

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22 June 2010 @ 02:43 pm

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*Markets*	Last Price (Value)	1 Day Change %	*Currencies*	Last Price (Value)	1 Day Change %
Dow Jones Industrial	10442.41	-0.07875	JPY/USD	0.010999	-0.2091
Nasdaq	2289.09	-0.89661	GBP/USD	1.4755	-0.0136
S&P 500	1113.2	-0.38568	AUD/USD	0.8771	0.0685
MSCI World	1120.55	0.466221	CHF/USD	0.9012	-0.1997
MSCI Europe	89.55	1.083644	CAD/USD	0.9761	0.0205
S&P Toronto Composite	11936.08	0.07118	SGD/USD	0.7251	0.1517
Shanghai Composite Index	2586.209	2.904121	IDR/USD	0.110742	0.2501
Hang Seng Index	20912.18	3.083151	MYR/USD	0.3124	0.4481
Nikkei	10155.2	-0.80885	THB/USD	0.030946	0.2327
Straits Times Index	2885.64	1.843721	VND/USD	5.2722	0.0133
Jakarta Composite Index	2941.903	0.420332	PHP/USD	0.021928	0.2052
Bursa Malaysia Index	1335.29	1.335671	MYR/SGD	0.4306	0.3948
Thailand Index	806.07	1.795795	AUD/SGD	1.2096	-0.2315
Vietnam Index	514.75	0.698384	EUR/SGD	1.6994	-0.2354
Philippine Index	3357.88	0.671568
Gold USD/oz	1238.35	0.376915
Crude oil spot	78.03	-0.96459
Manulife	16.81	1.632406

(Source: Extracted from Bloomberg)

Asian markets, regional currencies increase after move on yuan
Asian share markets advanced Monday after Beijing decided to allow the yuan's exchange rate to have greater flexibility. Japan's Nikkei 225 added 2.4%, Australia's S&P/ASX 200 climbed 1.3% and South Korea's Kospi Composite gained 1.6%. China's Shanghai Composite jumped 2.9%, Hong Kong's Hang Seng Index surged 3.1% and Taiwan's Taiex rose 1.9%. Shares in the Philippines and New Zealand's NZX 50 tacked on 0.7%. In afternoon trading, Singapore's Straits Times Index as well as Thailand's SET gained 1.8% and India's Sensex went up 1.9%. The Wall Street Journal (21 Jun.)

Investors drive up gold as they run from Europe's problems
After gaining 15% already this year, gold is moving toward its longest run of annual gains since at least 1920. Gold traded at $1,259.50 an ounce early afternoon Monday in Singapore, fueled by a flight from risk because of Europe's sovereign-debt crisis. Bloomberg (21 Jun.)

Analysis: The reason gold and U.S. Treasuries are performing well
A simultaneous increase in U.S. Treasuries and the price of gold might not be as much of a mystery as it seems, according to The Economist. Economic fundamentals seem to be deflationary, while official government policy looks inflationary. "Faced with this dichotomy, investors who buy both Treasury bonds and gold are not displaying cognitive dissonance," the magazine notes. "They are just hedging their bets." The Economist (17 Jun.)

Corporate-bond sales rebound as investor confidence returns
Corporate-bond sales have returned to a level last seen in April, with interest-rate swap spreads indicating investor confidence is improving. Financial markets are getting past concerns that Europe's sovereign-debt crisis will undermine the world's economic recovery and make it more difficult for borrowers to meet their repayment obligations. Bloomberg (20 Jun.)

Unpegging leads China's yuan to biggest increase in 21 months
China's currency posted its biggest gain since September 2008 on the first day of trading after the government announced that it will allow the yuan to rise. U.S. Treasuries fell as bond traders anticipated that the yuan's increase would put investors at ease about shifting into riskier assets. Economists expect further strengthening of the currency during the next few days but said it will be gradual. CNBC (21 Jun.) , Bloomberg (21 Jun.)

China's stock market is third-biggest in the world, regulator says
The total value of Shenzhen and Shanghai securities markets reached $3.07 trillion at the end of May, making China the world's third-largest stock market, according to the China Securities Regulatory Commission. The figure represents a 393.76% increase from the value in 2003, the regulator said. Xinhuanet.com (China) (19 Jun.) , The Economic Times (India) (19 Jun.)

Analysis: Europe's decision on stress tests raises more questions
European leaders announced that they will conduct stress tests on financial institutions in a move to reassure investors, as the region struggles with a sovereign-debt crisis. However, Europe's announcement fails to answer key questions about which banks will be tested, what will be tested and what will be done with the results, according to The Wall Street Journal. The Wall Street Journal (18 Jun.)

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21 June 2010 @ 10:28 am

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*Markets*	Last Price (Value)	1 Day Change %	*Currencies*	Last Price (Value)	1 Day Change %
Dow Jones Industrial	10450.64	0.157847	JPY/USD	0.011043	-0.1539
Nasdaq	2309.8	0.114426	GBP/USD	1.4834	0.0675
S&P 500	1117.51	0.131716	AUD/USD	0.8781	0.6995
MSCI World	1115.35	0.232755	CHF/USD	0.9049	-0.3094
MSCI Europe	88.59	0.203597	CAD/USD	0.9822	-0.3665
S&P Toronto Composite	11927.59	-0.15386	SGD/USD	0.7264	-0.6195
Shanghai Composite Index	2513.05	-0.00684	IDR/USD	0.110896	-0.6393
Hang Seng Index	20286.71	0.736454	MYR/USD	0.3118	-1.4753
Nikkei	10167.25	1.723158	THB/USD	0.030955	-0.2907
Straits Times Index	2864.78	1.107503	VND/USD	5.2687	-0.1044
Jakarta Composite Index	2929.589	1.331363	PHP/USD	0.02194	-0.4831
Bursa Malaysia Index	1321.59	0.295973	MYR/SGD	0.429	-0.7226
Thailand Index	791.85	0.317987	AUD/SGD	1.209	-0.1241
Vietnam Index	511.18	0.08223	EUR/SGD	1.7099	0.3217
Philippine Index	3335.48	0.662739
Gold USD/oz	1257.7	0.07161
Crude oil spot	78.79	1.822176
Manulife	16.54	-0.60096

(Source: Extracted from Bloomberg)

Asian share markets close week mixed
Asian markets ended mixed Friday. Japan's Nikkei 225 was unchanged, Australia's S&P/ASX 200 climbed 0.5% and South Korea's Kospi Composite added 0.2%. China's Shanghai Composite slid 1.8%, Hong Kong's Hang Seng Index rose 0.7% and Taiwan's Taiex shed 0.3%. India's Sensex slipped 0.2% and Singapore's Straits Times Index was flat in afternoon trading. The Wall Street Journal (18 Jun.)

Almost 60% of Chinese say consumer prices are too high, survey shows
The percentage of consumers who think prices are "too high to be acceptable" increased to 58.9% in a poll by the People's Bank of China, the highest level in a decade. The survey also found that 72.5% of respondents think house prices are excessive. The number of people prepared to buy a home in the coming months dropped for the second quarter in a row. Xinhuanet.com (China) (17 Jun.)

Some economists see falling CPI as a recession warning
A falling consumer price index is showing up in the U.S. as well as other wealthy economies, raising the specter of a second dip into recession, analysts said. "Disinflationary and deflationary pressures among the major industrialized countries are gaining momentum," said Brian Bethune, an economist at IHS Global Insight. Meanwhile, the U.S. Labor Department reported that first-time jobless claims remained at a high level last month. The Christian Science Monitor (17 Jun.) , Investment Advisor (17 Jun.) , Yahoo!/Zacks (17 Jun.)

Investors are less optimistic about global economy, survey finds
Investors' expectations for economic growth are down, with optimism about the global economy dropping to its lowest level since March 2009, according to a Bank of America Merrill Lynch survey of fund managers. Expectations about China's economy have reached an 18-month low, according to the poll. However, investors' outlook and portfolio positioning in regard to China are mismatched, with fewer emerging-market managers worldwide underweight there. AsianInvestor.net (18 Jun.)

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18 June 2010 @ 02:56 pm

Daily News Update

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Daily News Flash

*Markets*	Last Price (Value)	1 Day Change %	*Currencies*	Last Price (Value)	1 Day Change %
Dow Jones Industrial	10409.46	0.045075	JPY/USD	0.010948	-0.1096
Nasdaq	2305.93	0.002168	GBP/USD	1.4705	-0.1765
S&P 500	1114.61	-0.05559	AUD/USD	0.8608	-0.3704
MSCI World	1111.11	0.249923	CHF/USD	0.8843	-0.3166
MSCI Europe	88.26	0.11343	CAD/USD	0.9738	0.2567
S&P Toronto Composite	11921.05	0.113458	SGD/USD	0.7165	0.1814
Shanghai Composite Index	2569.941	0.28721	IDR/USD	0.1092	0.1374
Hang Seng Index	20062.15	0.051067	MYR/USD	0.3061	0.2614
Nikkei	10047.07	-0.19946	THB/USD	0.030855	0.1847
Straits Times Index	2846.94	1.019441	VND/USD	5.2715	-0.1309
Jakarta Composite Index	2858.659	1.006511	PHP/USD	0.021664	-0.0877
Bursa Malaysia Index	1303.13	0.366614	MYR/SGD	0.4271	0.0702
Thailand Index	786.64	0.803465	AUD/SGD	1.2014	0.1831
Vietnam Index	510.72	0.533454	EUR/SGD	1.7138	0.0759
Philippine Index	3307.65	0.76864
Gold USD/oz	1233.47	0.364117
Crude oil spot	76.24	0
Manulife	16.9	0.835322

(Source: Extracted from Bloomberg)

Asian shares end mixed, with Chinese stocks surging, then falling
Share markets across the Asian-Pacific region were mixed Thursday, with the Shanghai market experiencing early gains, only to fall into the red by midday. Japan's Nikkei 225, New Zealand's NZX 50 and Australia's S&P/ASX 200 slid 0.7%. South Korea's Kospi Composite inched up 0.2%, China's Shanghai Composite slipped 0.4% and Taiwan's Taiex added 0.8%. Hong Kong's Hang Seng Index gained 0.4%, while India's Sensex and Thailand's SET were up 0.3% and Singapore's Straits Times Index was down 0.3% in afternoon trading. The Wall Street Journal (17 Jun.)

IMF, EU, U.S. say they aren't creating credit line for Spain
A Spanish newspaper's report that the International Monetary Fund, the EU and the U.S. are developing a $307 billion line of credit for Spain was denied by all three entities. "That story is rubbish," European Commission spokesman Amadeu Altafaj said. Meanwhile, some German newspapers are voicing optimism that Spain will overcome its debt problems. Bloomberg Businessweek (16 Jun.) , Spiegel Online (Germany) (16 Jun.)

Analysis: Chinese-U.S. tension is visible at Asian defense forum
Signs of a chilling relationship between the U.S. and China were noticeable at the annual Asia Security Summit in Singapore. If only to avoid misinterpreting each other's action, military forces in the region should talk to each other, according to The Economist. "Defence chiefs at the forum, organised by the International Institute for Strategic Studies, a London-based think-tank, could agree on that much," The Economist notes. "But they found it tricky to agree on much else." The Economist (10 Jun.)

Shanghai part of AgBank's IPO is set to start this week
Agricultural Bank of China is pressing ahead with what is expected to be the biggest initial public offering in history, with the Shanghai portion set to launch this week. The bank expects to brief potential investors Thursday and accept the first subscriptions July 1. China Daily (Beijing) (17 Jun.) , Reuters (16 Jun.)

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17 June 2010 @ 12:34 pm

Daily News Update

Daily News Flash

*Markets*	Last Price (Value)	1 Day Change %	*Currencies*	Last Price (Value)	1 Day Change %
Dow Jones Industrial	10409.46	0.045075	JPY/USD	0.010948	-0.1096
Nasdaq	2305.93	0.002168	GBP/USD	1.4705	-0.1765
S&P 500	1114.61	-0.05559	AUD/USD	0.8608	-0.3704
MSCI World	1111.11	0.249923	CHF/USD	0.8843	-0.3166
MSCI Europe	88.26	0.11343	CAD/USD	0.9738	0.2567
S&P Toronto Composite	11921.05	0.113458	SGD/USD	0.7165	0.1814
Shanghai Composite Index	2569.941	0.28721	IDR/USD	0.1092	0.1374
Hang Seng Index	20062.15	0.051067	MYR/USD	0.3061	0.2614
Nikkei	10047.07	-0.19946	THB/USD	0.030855	0.1847
Straits Times Index	2846.94	1.019441	VND/USD	5.2715	-0.1309
Jakarta Composite Index	2858.659	1.006511	PHP/USD	0.021664	-0.0877
Bursa Malaysia Index	1303.13	0.366614	MYR/SGD	0.4271	0.0702
Thailand Index	786.64	0.803465	AUD/SGD	1.2014	0.1831
Vietnam Index	510.72	0.533454	EUR/SGD	1.7138	0.0759
Philippine Index	3307.65	0.76864
Gold USD/oz	1233.47	0.364117
Crude oil spot	76.24	0
Manulife	16.9	0.835322

(Source: Extracted from Bloomberg)

Rally for Wall Street, euro boosts Asian markets
Asian share markets saw solid gains Wednesday after Wall Street and the euro advanced. Japan's Nikkei 225 surged 1.8%, Australia's S&P/ASX 200 climbed 1.2% and South Korea's Kospi Composite rose 0.9%. New Zealand's NZX 50 added 0.7%, India's Sensex was up 0.2% and shares in the Philippines tacked on 0.8%. In afternoon trading, Singapore's Straits Times Index as well as Indonesian shares advanced 1.1% and Thailand's SET went up 1.2%. Markets in Hong Kong, China and Taiwan were closed. The Wall Street Journal (16 Jun.)

Fed tests tool for draining cash from banking system
The U.S. Federal Reserve started testing its tool for credit tightening, selling $1.15 billion through its Term Deposit Facility. Ben Bernanke, chairman of the Fed, plans to use the program to drain funds from the banking system and help policymakers increase interest rates. The central bank also said it will use reverse-repurchase agreements to soak up liquidity. "The use of reverse repos and the deposit facility would together allow the Federal Reserve to drain hundreds of billions of dollars of reserves from the banking system quite quickly, should it choose to do so," Bernanke told lawmakers earlier this year. Bloomberg (15 Jun.)

China warns of possible losses on loans to property firms
The China Banking Regulatory Commission told commercial lenders to start conducting quarterly stress tests on property loans. The agency is worried about "substantive risks and losses" on loans after the government's action to cool off the property sector. China Daily (Beijing) (16 Jun.)

Analysis: U.S. joblessness likely will remain high through 2011
If post-crisis household deleveraging in the U.S. takes as long as it has in other developed economies, unemployment will remain high for a while, according to an analysis by Goldman Sachs' Jan Hatzius. Goldman expects 9.7% joblessness in the last quarter of 2011. "Unfortunately for American workers, 9.7% unemployment at the dawn of 2012 is the best thing that could happen to Republican fortunes, and the president needs Republican votes to move legislation," The Economist notes. "The next two years could prove very ugly indeed." The Economist/Free Exchange blog (14 Jun.)

China increases its holdings of U.S. Treasuries
China's investment in U.S. government debt expanded to $900.2 billion in April, a $5 billion increase compared with the previous month, according to the U.S. Treasury Department. The total amount of Treasuries owned by foreign investors increased to $3.96 trillion, up $72.8 billion from March. Los Angeles Times/The Associated Press (15 Jun.)

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16 June 2010 @ 03:20 pm

Daily News Update

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Daily News Flash

*Markets*	Last Price (Value)	1 Day Change %	*Currencies*	Last Price (Value)	1 Day Change %
Dow Jones Industrial	10404.77	2.098737	JPY/USD	0.010913	0.2108
Nasdaq	2305.88	2.759407	GBP/USD	1.4803	-0.0068
S&P 500	1115.23	2.349421	AUD/USD	0.8641	-0.1733
MSCI World	1108.34	1.568886	CHF/USD	0.8821	0.0453
MSCI Europe	88.16	0.685244	CAD/USD	0.9745	0.0821
S&P Toronto Composite	11907.54	2.058738	SGD/USD	0.7177	0.209
Shanghai Composite Index	2569.941	0.28721	IDR/USD	0.10929	-0.2187
Hang Seng Index	20062.15	0.051067	MYR/USD	0.3069	0
Nikkei	10052.4	1.663752	THB/USD	0.030855	-0.1394
Straits Times Index	2818.21	0.004968	VND/USD	5.2632	0.1577
Jakarta Composite Index	2830.173	0.118012	PHP/USD	0.021633	-0.171
Bursa Malaysia Index	1298.37	0.093281	MYR/SGD	0.4277	-0.6079
Thailand Index	780.37	-0.09729	AUD/SGD	1.2039	-0.0332
Vietnam Index	508.01	-0.06099	EUR/SGD	1.7155	-0.0408
Philippine Index	3282.42	0.519991
Gold USD/oz	1232.25	-0.15395
Crude oil spot	75.69	0
Manulife	16.76	3.011678

(Source: Extracted from Bloomberg)

Asian markets see modest gains
Japan's Nikkei 225 and Hong Kong's Hang Seng Index rebounded from morning losses to gain 0.1% as Asian share markets advanced Tuesday on tepid demand. Australia's S&P/ASX 200, South Korea's Kospi Composite and New Zealand's NZX 50 closed unchanged. Taiwan's Taiex climbed 0.9%, while shares in the Philippines rose 0.5%. In afternoon trading, India's Sensex added 0.3%, Singapore's Straits Times Index inched up 0.1%, Indonesian stocks advanced 0.4% and Thailand's SET went up 0.2%. The Wall Street Journal (15 Jun.)

China criticizes U.S. request to let yuan increase in value
The Chinese Foreign Ministry said U.S. officials shouldn't politicize the yuan's exchange rate. Ministry officials said the value of China's currency isn't responsible for the U.S. trade deficit. China is implementing policy to increase imports from the U.S., Foreign Ministry spokesman Qin Gang said. Imports from the U.S. in the first quarter increased 50% compared with the same period last year. China Daily (Beijing) (15 Jun.)

Analysis: Commercial real estate market springs back to life
The pace of commercial-property acquisition is picking up in a way that might continue for some time, Morningstar's Todd Lukasik writes. "We believe the large amount of capital that [real estate investment trusts], pension funds, and private investment funds have amassed for commercial real estate investment has, to date, overwhelmed the available supply of assets for purchase," Lukasik notes in an analysis of the commercial real estate market. Morningstar (14 Jun.)

Moody's slashes Greece's credit rating to Ba1
Moody's Investors Service cut Greece's credit rating from A3 to Ba1, citing "substantial" risks to growth from budget cuts and other austerity measures. "We've got a lot of uncertainty around the growth outlook for Greece," said Sarah Carlson, vice president and senior analyst in the sovereign-risk group at Moody's. "It's rare for a country to implement so much structural reform in a very short time." Bloomberg (15 Jun.) , Reuters (14 Jun.)

Report: Financial crisis might have crippled U.K. economy forever
Britain's economy suffered greater damage than was earlier acknowledged and might never recover, according to the Office for Budget Responsibility. The economy is expected to expand 2.6% in 2011 and 2.8% in 2012, the office said, significantly less than previously forecast. The office called for major reform in public-sector pension. The Times (London) (15 Jun.)

Interest rates likely will held until 2012, Fed paper shows
A research paper from the Federal Reserve Bank of San Francisco states that the central bank likely will keep interest rates at their level because of high unemployment and low inflation. The paper does not represent the Fed's official position. Fed governors have been reluctant to specify when a rate increase might take place. The New York Times (free registration) (14 Jun.)

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