Japanese shares fell, with the Topix index headed for its second drop this week, as insurance companies led declines and investors weighed the nation’s new growth strategies.
Hong Kong stocks fell, with the benchmark index dropping for a second day, as investors weighed the latest round of Chinese stimulus measures and awaited economic reports due this week.
The world’s largest pension fund chose two members who were on a state panel that urged it to cut bonds to head its investment committee.
In Japan, where company strategies curtail return on equity to half the global average, the government has a new weapon to shame chief executive officers into boosting returns: a stock index.
Japanese shares rose, with the Topix index extending its longest winning streak in almost a year, as advancing agricultural shares countered a decline in utilities.
Japanese investors sold a record amount of euro-denominated long and medium-term bonds in March, Ministry of Finance data showed today.
Japanese bonds completed a third weekly loss after data showed producer prices avoided declines for a second month and on prospects debt issuance will increase under a government led by Ichiro Ozawa .
Japanese power-company stocks that rallied after the pro-nuclear Liberal Democratic Party was elected may struggle to sustain gains because of public opposition to restarting atomic plants.
The Bank of Japan faces a “terrifying dilemma” of inflation forcing it to tighten monetary policy just as the central bank most needs to support the bond market, according to a former board member.
"Japan and overseas markets are taking a breather today."
- Ayako Sera on Jul 07, 2014