China’s “spectacularly active” naval posture and “massive” military buildup in Asia are part of a pattern of belligerent behavior toward Japan and other neighbors over maritime disputes, according to Japan’s ambassador to the U.S.
Emerging-market stocks fell, led by Thai and Turkish shares, as concern grew that the Federal Reserve will signal reduction in stimulus. India’s rupee and Russia’s ruble paced losses among developing-nation currencies.
West Texas Intermediate crude climbed to a nine-month high as the Syrian conflict bolstered concern that the flow of supplies from the Middle East may be disrupted and on signs that economic growth is accelerating.
Russian President Vladimir Putin agreed to sign a statement at the Group of Eight summit calling for the establishment of a “transitional government” in Syria as quickly as possible, putting more pressure on his ally, President Bashar al-Assad.
Jeff Swartz, director for international policy at the International Emissions Trading Association in Brussels, comments on how China’s carbon markets will place pressure on other emerging nations to deal with their output of heat-trapping gases. He commented by phone on June 14. China started today a test carbon market in Shenzhen, the first of seven.
Wheat may extend a slump in the year starting from July as farmers around the world are set to boost production and as demand declines for the grain in livestock feed, an Australian government forecaster said.