Australian banks posted the best risk-adjusted returns among global peers in the past 10 years, attracting investors with rising earnings and the highest dividend yields of the world’s biggest lenders.
Stock futures in Japan, Hong Kong and Australia fell, tracking declines in Europe and U.S. equities, as American jobs and factory data missed estimates and investors speculated whether the Federal Reserve will taper bond purchases.
Hong Kong stocks fell as rising consumer inflation and housing prices in China stoked concern the country will act further to rein in its economy. The city’s developers pared losses after a government land sale.
Most Hong Kong stocks rose, lifting the Hang Seng Index to its longest winning streak in 13 months, amid speculation economic growth in China can weather measures to curb Chinese property prices and Europe’s debt crisis.
Sany Heavy Industry Co. and Citic Securities Co. are pushing ahead with share sales in Hong Kong, where companies have canceled or delayed a record $14 billion of equity offerings this year as stock markets tumble.
Stocks in the world’s developed nations posted the best start to a year in two decades, a sign the global economy is poised to accelerate after contractions in Japan, the U.S. and Europe, if history is a guide.
Binay Chandgothia , who oversees about $2.2 billion as chief investment officer at Principal Global Investors (Hong Kong) comments on stocks amid growing concern about the safety of Japan’s nuclear plants damaged by the country’s worst earthquake on record.
Asian stocks rose, with the regional benchmark gauge recovering from its biggest weekly drop in seven months, after Cyprus agreed to an international bailout and profit at China Petroleum & Chemical Corp. topped forecasts.
People’s Insurance Company (Group) of China, the nation’s biggest property insurer, raised HK$24 billion ($3.1 billion) in Hong Kong’s largest initial public offering in two years, people with knowledge of the matter said.