Asian currencies had the best week since September 2012, led by Indonesia’s rupiah and India’s rupee, as signs the U.S. economic recovery is losing pace fueled speculation the Federal Reserve will slow further stimulus cuts.
The top-performing Philippine stock fund in the past five years has doubled holdings of consumer companies as record remittances boost the spending power of shoppers in Southeast Asia’s fastest-growing economy.
Mitsubishi UFJ Financial Group Inc., Japan’s largest financial firm by market value, plans to boost its mergers and acquisitions business in Singapore by moving bankers into the unit that makes corporate loans.
China is beefing up spending on high-tech weapons and upgrading combat readiness as it throws its military weight behind territorial claims that have stirred tensions with Japan and Southeast Asian neighbors.
Emerging-market stocks rose for a second day as concerns eased that the standoff in Ukraine will escalate into a war. Chinese shares fell after a solar company warned it is unable to meet a bond-interest repayment.