Peter Redward News
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Investors are more confident in a Japanese leader than any time since at least September 2010, with optimism about Prime Minister Shinzo Abe’s policies exceeding that for counterparts in the U.S., Europe and China.
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China’s deepest political turmoil since 1989 has failed to shake confidence in the strength of its economy and allure of its markets, a Bloomberg poll indicated.
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Hong Kong is likely to ditch its currency peg to the U.S. dollar within two years in favor of a link to the yuan, according to Peter Redward , head of Emerging Asia research at Barclays Plc.
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From the end of 2008 through July, no major currency appreciated as much as Australia’s dollar, thanks to booming shipments of iron ore and other commodities to China. Since then, it’s the worst performer as the engine of world growth slows.
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South Korea’s won strengthened to a 19-month high as global funds pumped more money into the nation’s shares to profit from accelerating economic growth and increasing overseas sales.
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Singapore’s economy will probably expand faster than initially estimated in 2011, stoking inflation and a larger appreciation in the currency, a central bank survey showed.
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The following are some of the important stories that broke overnight, and newspaper summaries in India today:
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Emerging-market stocks declined for a second day as banks dropped amid concern loan growth will slow and as falling oil prices dragged down energy producers.
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The yen fell against higher- yielding currencies as signs the global economic recovery is gaining momentum boosted demand for riskier assets.
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Asian currencies rose, with Taiwan’s dollar and South Korea’s won reaching the highest levels in at least 19 months, on speculation investors will plow more funds into local assets as the region leads a recovery.
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