Global Indices & Markets News
Global Equity Market - For the past week, U.S. S&P 500, Japan Nikkei 225 and Hong Kong Hang Seng Index rose by 0.73 percent, 2.42 percent and 0.60 percent. Earnings from U.S. companies have generally been well received and mutual fund flows have picked up as investors appear more confident in global economic growth.
U.S.’s Q4 GDP - The U.S. economy shrank in the fourth quarter for the first time since the recession, but the nation appeared to hew to a mild growth path if unusual factors are stripped out. Gross domestic product contracted by a 0.1% annual rate, down from 3.1% growth in the third quarter.
The latest statement from U.S. Fed - The Federal Reserve says economic growth "paused" in recent months and reaffirmed its commitment to boost a sluggish U.S. economy by keeping borrowing cheaply for the foreseeable future.
U.S’ labor market - The U.S. created a modest 157,000 jobs in January and the unemployment rate ticked up, but the economy added one-third of a million more positions in 2012 than previously thought, with a large chunk coming in the final months of the year.
Japan’s Government Budget - Japan's government approved a $1.02 trillion draft budget for the next fiscal year that aims to nudge tax revenues above new bond sales for the first time in four years, but still relies on borrowing to cover 46.3 percent of its spending.
Rebound of Japan’s Factory Output - Japan's December factory output rose at the fastest pace in a year and a half and firms expect further gains, raising hopes that stabilizing global demand and exports will help pull the economy from its slump. The 2.5 percent rise in production was below the median market forecast for a 4.5 percent gain and followed a 1.4 percent decline in November.
China’s Manufacturing Sector - China's giant manufacturing sector extended its mild recovery in January with weak foreign demand still crimping growth, a pair of surveys showed, underscoring that the country's rebound from its worst downturn in 13 years remains modest.
India cut interest rate - India's central bank lowered its key policy rate for the first time in nine months, but struck a cautious note on further easing as it waits to see how the government's upcoming budget aims to bring a bloated fiscal deficit under control. The Reserve Bank of India cut the policy repo rate by 25 basis points (bps) to 7.75 percent to help support an economy set to post its slowest annual growth rate in a decade.
Spain’s Q4 GDP - Spain’s recession deepened more than economists forecast in the fourth quarter as the government’s struggle to rein in the euro region’s second-largest budget deficit weighed on domestic demand. Gross domestic product fell 0.7 percent in the three months through December from the previous quarter, when it declined 0.3 percent.
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