Japanese index futures fell as the yen maintained its rebound from a six-month low amid concern the U.S. budget deal will give the Federal Reserve confidence to reduce stimulus. Copper futures slipped and Australia’s dollar traded at a five-year low versus New Zealand’s currency.
Ang Eng Siong, 33, has been promoted every year since he completed Oversea-Chinese Banking Corp.’s management associate program in 2010, when he was put in charge of two older, higher-ranked colleagues.
Emerging-market stocks fell for a second day as Chinese coal producers dropped and investors weighed the timing of a reduction in Federal Reserve stimulus. The Philippine peso rose from a three-month low.
U.S. stocks fell, pulling the Standard & Poor’s 500 Index down from a record, and the yen strengthened as concern American lawmakers will fail to reach a budget deal overshadowed better-than-estimated economic data. Oil, gold and coffee led commodity gains as the dollar weakened.
The Philippines’ benchmark stock index sank to a three-month low and bonds fell on concern inflation will accelerate after regulators allowed the nation’s biggest power supplier to increase prices by a record. The peso weakened.
The foreign policy strategy emerging from China’s new leadership may include a series of incremental steps calibrated to blunt U.S. influence across Asia and sow doubt about America’s commitment to its allies in the region.
Merlin Entertainments Plc, the private-equity backed owner of Madame Tussauds, will invest about S$20 million to develop attractions in Singapore, including a new Madame Tussauds wax museum, as rising income in Asia fuels consumer spending on leisure activities and entertainment.
Manoj Wanzare, an Indian fund manager with a master’s in business administration, personifies Australia’s best bet to address the risk of a slump in income growth as the nation’s once-in-a-century mining boom fades.