Asian equity futures rose, indicating shares from Japan to Australia may follow U.S. stocks higher, on prospects the Federal Reserve will signal the fate of monetary stimulus after its meeting today. The yen held declines, while natural gas and gasoline gained.
Chinese equities advanced in New York as Suntech Power Holdings Co. climbed after a moratorium on claims from creditors was extended in Europe while online retailers rallied on an improving outlook for second-half sales.
Nigeria, Pakistan and Kazakhstan don't top many traveler bucket lists. Sending money there's another story: The MSCI Frontier 100 Index is up 14 percent this year and assets in exchange-traded funds that specialize in such "frontier markets" have risen 52 percent to $820 million. By contrast, nearly $10 billion has flowed out of emerging market ETFs this year, and the MSCI Emerging Markets Index is down 8.1 percent.
Facebook Inc. Chief Executive Officer Mark Zuckerberg, seeking to boost advertising sales from mobile devices, discussed potential partnerships with Samsung Electronics Co., according to the head of the South Korean company’s handset division.
Hewlett-Packard Co. Chief Executive Officer Meg Whitman is reorganizing the personal computer business, replacing longtime head Todd Bradley with one of his deputies as she strives to overcome a worsening global PC slump.
A panel set up by India’s finance ministry has recommended increasing foreign investment limits in industries including defense, telecom and retail, said three government officials with knowledge of the matter.
PT Jamsostek, Indonesia’s biggest pension fund, said the nation’s benchmark stock index will extend losses, giving the manager an opportunity to boost equity holdings amid optimism about the country’s economic growth.
Overseas funds are raising holdings in India’s state-controlled companies to a two-year high as Prime Minister Manmohan Singh’s government sells stakes and attracts investments to revive the weakest economy in a decade.