Global Indices & Markets News
Equity Index Summary
U.S.’sS&P 500 Stock Index gained 2.29 percent, while Hong Kong’s Hang Seng Composite rose 2.11 percent and Korea’s KOSPI declined 0.16 percent. Positive economic data out of China and the reassurance that the Federal Reserve’s current quantitative easing (QE) policy will continue are the positive catalysts to the equity markets.
Downgrade of China’s Debt Rating
Fitch lowered its assessment of China’s long- term yuan debt by one step to A+, the fifth-highest grade, last week. It says there are increasing financial-stability risks given the lack of transparency in the increased borrowing by local governments.
Speech from Haruhiko Kuroda
Haruhiko Kuroda said the unprecedented stimulus announced by the Bank of Japan at his first meeting as governor is enough to achieve a 2 percent inflation goal, and said the bank has taken all “necessary” and “possible” measures.
Speech from Shinzo Abe
It is important for the Japanese government to pursue sustainable fiscal policy to ensure trust in the government bond market, Prime Minister Shinzo Abe said on Tuesday.
U.S. Fed’s Minutes
Several Federal Reserve officials said thought that if the outlook for labor market conditions improved as anticipated, it would probably be appropriate to slow purchases later in the year and to stop them by year-end, minutes of their March meeting showed.
Italy’s debt hit postwar record
Prime Minister Mario Monti announced Italy’s debt will reach a postwar record this year.
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