Asian stocks fell after the yen strengthened overnight and valuations on the regional equities gauge climbed to a six-month high, with investors awaiting U.S. jobs data this week that may provide further evidence as to when the Federal Reserve will reduce stimulus.
Deutsche Bank AG’s Japanese brokerage unit will probably be penalized by local regulators for breaching rules over excessive spending to entertain clients, two people with knowledge of the matter said.
Treasuries are approaching the cheapest level relative to stocks in more than two years before a private report forecast to show U.S. jobs growth quickened, bolstering the case for the Federal Reserve to taper stimulus.
Dick Smith Holdings Ltd., Australia’s largest electronics chain by store numbers, made its stock market debut with a valuation more than five times the sale price received by former owner Woolworths Ltd.
Bank of Canada Governor Stephen Poloz will probably keep the benchmark interest rate unchanged today as he weighs the risks posed by inflation that’s been below target for more than a year against concerns that lower borrowing costs could lead consumers to add to record debts.
Art Basel Miami Beach, the largest U.S. art fair, will offer more than $3 billion of mostly postwar and contemporary works when it opens to a select group of collectors today, a 20 percent increase from two years ago.