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The Standard & Poor’s 500 Index returned to a record as a Federal Reserve official said bond purchases should continue and Goldman Sachs Group Inc. forecast the stock rally will last at least through 2015. Treasuries rose and the yen pared earlier losses while grains and gold fell.
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Most emerging-market stocks advanced as a Federal Reserve official said bond purchases should continue, bolstering the outlook for global economic growth. Mexico’s IPC Index was poised for an eight-month low.
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Temasek Holdings Pte, Singapore’s state-owned investment company, boosted its stake in Industrial & Commercial Bank of China Ltd. for the third time in a year as Goldman Sachs Group Inc. ended an investment in the lender.
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Goldman Sachs Group Inc. ended a seven-year investment in Industrial & Commercial Bank of China Ltd. by selling a $1.1 billion stake in the world’s largest lender by market value, a person familiar with the matter said.
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Asian stocks retreated from the highest level since June 2008 as Australian banks dropped and Industrial & Commercial Bank of China Ltd. fell after Goldman Sachs Group Inc. sold a $1.1 billion stake.
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President Barack Obama, turning the U.S. strategic focus to Asia, will meet Chinese President Xi Jinping next month in their first face-to-face talks since China’s power transition ended in March.
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As Japan’s cherry trees bloomed and the stock market soared, Kohetsu Watanabe flew to a blossom- viewing party in Tokyo hosted by Prime Minister Shinzo Abe to tell the premier personally how bad things really are.
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Goldman Sachs Group Inc. ended a seven-year investment in Industrial & Commercial Bank of China Ltd. by selling a $1.1 billion stake in the world’s largest lender by market value, a person familiar with the matter said.
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China’s overnight money-market rate rose for a ninth day, the longest stretch since March, as the central bank drained funds from the financial system.
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Hong Kong stocks fell, with the benchmark equity index retreating from a three-month high, as Industrial & Commercial Bank of China Ltd. dropped after Goldman Sachs Group Inc. was said to sell its stake in the lender.
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