Mirae Asset Management Co. is avoiding junk bonds of Mongolian Mining Corp. in the absence of a rebound in coal prices, as Moody’s Investors Service says any so-called distressed exchange would add to downgrade risks.
Emerging-market stocks extended their weekly decline, with the benchmark index sinking to a four-month low, on concern that slowing economic growth and reduced Federal Reserve stimulus will spur capital outflows. South Korea’s won dropped to the weakest level in four months.
South Korea’s top-performing mutual fund more than doubled its assets in 2013 by betting on global consumer shares, luring inflows from domestic investors who have sold Kospi index stocks for five straight years.
Mirae Asset Global Investments Co., South Korea’s second-largest money manager, is considering an acquisition of an Indonesian asset-management company to tap rising affluence in the Southeast Asian nation.
Gopal Agrawal , the Mumbai-based chief investment officer at the local unit of Mirae Asset Financial Group, comments on the Indian central bank’s monetary policy and the outlook for the nation’s stocks.