China’s move to end a 14-month ban on initial public offerings and allow the sale of preferred shares led to a rally in financial stocks as investors bet the measures will boost fees for brokerages and ease banks’ funding.
Japan’s Government Pension Investment Fund plans to boost investment in growth stocks to increase returns and may eventually allocate several trillion yen to such equities, the Nikkei newspaper reported on Oct. 5.
Japan Exchange Group Inc., operator of the world’s second-biggest equity market, will create an index with Nikkei Inc. that selects members based on return on equity, in a bid to highlight the nation’s best stocks.
Eugene F. Fama, Robert J. Shiller and Lars Peter Hansen shared the 2013 Nobel Prize in Economic Sciences for at times conflicting research on how financial markets work and assets such as stocks are priced.
Stocks rose with Treasuries and the dollar weakened as Lawrence Summers withdrew his bid to become Federal Reserve chairman. Crude oil fell after the U.S. and Russia agreed on a plan to eliminate Syria’s chemical weapons.
U.S. stocks rose, sending the Standard & Poor’s 500 Index to a five-week high and within 1 percent of a record, after Lawrence Summers withdrew his bid to be Federal Reserve chairman and tensions over dealing with Syria’s chemical weapons eased.