Global Indices & Markets News
U.S. equity markets - U.S. equity markets moved up last week despite the overhang of “fiscal cliff” in U.S. U.S. S&P 500 Index booked 1.17 percent return and Dow Jones Industrials Average rose by 0.43 percent. The increases suggest investors do not believe the economy will be unduly damaged by the absence of a deal.
The Latest Move of BOJ - The Bank of Japan expanded its asset-buying and lending program by 10 trillion yen ($119 billion) to 101 trillion yen, a widely expected move that barely moved markets. It also signaled setting a higher inflation target at its next meeting in January, when a new government will be in place.
Moody’s warn Japan - An increase in fiscal spending could help Japan's economy temporarily but would leave the government with a bigger debt pile unless there are policies to improve the country's long-term growth prospects, credit rating agency Moody's Investors Service said.
China is expected to expand by8.4% next year - The World Bank said China was expected to expand by 8.4 percent next year, fuelled by fiscal stimulus and the faster implementation of large investment projects. The latest forecast is higher than the 8.1 percent figure cited in an October report.
New female president of South Korea - Park Geun Hye was elected president of South Korea, becoming the first woman to lead Asia’s fourth- biggest economy.
Speech from Draghi - European Central Bank President Mario Draghi said ECB policies and governance reforms in the euro area have revived confidence that will help foster a gradual economic recovery in the second half of next year.
Upgrade of Greece - Rating agency Standard & Poor's raised Greece's sovereign credit rating to B-minus with a stable outlook from selective default, citing Europe's efforts to keep the country part of the euro.
Postpone of New Bank Rule in Europe - Europe will definitely fail to meet the globally-agreed January deadline for the implementation of tougher capital requirements for banks after European Union talks to agree the rules were postponed on Tuesday.
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