Asian stocks rose a second day after comments from Russian President Vladimir Putin signaled the Ukraine crisis won’t immediately escalate. China shares slid amid concern the country is facing its first onshore corporate bond default.
Declines that erased $1.7 trillion from global stocks as currencies from Turkey to Argentina slid are proving a Wall Street maxim, according to Brian Barish of Cambiar Investors LLC: selling can start anywhere.
Bank Julius Baer & Co. is buying emerging Asian stocks most tied to the global economy for the first time since January, betting steelmakers and shipbuilders will surge 25 percent in the next year as growth rebounds.
Japan’s 121 trillion yen ($1.21 trillion) pension fund needs more independence from bureaucrats and should put some of the world’s biggest retirement savings pool into private equity and commodities, an expert panel said.