Global Indices & Markets News
Global Equity Markets
The major market indices in U.S. finished higher last week. In U.S, The S&P 500 Stock Index gained 0.61 percent and The Dow Jones Industrial Average rose 0.81 percent. In contrast, the major market indices in Asia booked losses. The Hang Seng Composite Index fell 3.13 percent, Taiwan declined 1.09 percent and the KOSPI fell 0.97 percent.
U.S. Economic Figures
Retail sales rose 1.1 percent in February, mainly supported by increase in gasoline price. At the same time, The University of Michigan Confidence Index was much weaker than expected in February, sending conflicting signals about the consumer.
Update of Greece
Greece is doing well with reforms required to receive the next tranche of emergency loans but is not there yet, international lenders said.
Bond Auction in Italy
Italy sold 5.32 billion euros of new three- and 15-year government bonds, paying the highest yield since last December for the shorter-term debt.
New BOJ Governor
Japan's parliament approved Haruhiko Kuroda as the Bank of Japan's next governor on Friday, setting the stage for the central bank to embark on more vigorous monetary easing once the new chief takes over.
PBOC Governor and Tightening Measures in China
China kept Zhou Xiaochuan on as governor of the central bank in a bid to speed up market-based reforms needed to sustain long-term growth in China and to ensure policy continuity amid global uncertainties. He said the central bank's stance had shifted to neutral from loose and that policy was now prudently set to rein in the risk of rising prices.
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