Japanese shares rose, with the Topix index posting its biggest three-day advance in seven months, after comments by Federal Reserve Chairman Janet Yellen boosted optimism for the world’s biggest economy.
Industrial & Commercial Bank of China Ltd. said investors in a troubled high-yield trust can recoup their funds, averting a threatened default that underscored concern over the shadow-banking system and helped spur a selloff in emerging-market currencies and stocks.
China Credit Trust Co. said it reached an agreement to restructure a high-yield product that sparked concern over the health of the nation’s $1.67 trillion trust industry and contributed to a global selloff in emerging- market assets.
The Bank of Japan’s unprecedented monetary easing will fail in its goal of spurring 2 percent inflation, according to Takahiro Mitani, president of the fund that manages the world’s largest pool of pension savings.
Gavin Parry , managing director of Hong Kong-based Parry International Trading Ltd., comments on the reaction in financial markets after Yonhap News reported that South Korea had scrambled fighter jets and returned fire after North Korea lobbed dozens of shells into its territory.