Japan’s Government Pension Investment Fund, the world’s largest pool of retirement savings, cut domestic bond holdings to the least since the fund’s inception in 2006 and said it will invest in infrastructure.
Currency traders are rejecting warnings from International Monetary Fund Managing Director Christine Lagarde that volatility will increase as the Federal Reserve pares its unprecedented stimulus program.
Samsung Electronics Co., facing slower demand for smartphones, will release a new device with a larger 5.2-inch screen and sharper display than the current Galaxy S4, according to a person with direct knowledge of the matter.
Japanese stocks rose, with the Topix index surging the most in more than five months, as the yen tumbled after the central bank doubled a growth funding facility while keeping its asset-purchase program unchanged.
Bank of East Asia Ltd., Hong Kong’s largest family-run lender, unexpectedly reported higher 2013 profit as wider lending margins helped offset a drop in trading income. The stock surged the most in five months.