Australia’s federal and state governments have the capacity to increase debt levels to fund infrastructure projects, according to Colonial First State , the fund management arm of Commonwealth Bank of Australia .
Asian stocks rose, with the regional benchmark gauge recovering from its biggest weekly drop in seven months, after Cyprus agreed to an international bailout and profit at China Petroleum & Chemical Corp. topped forecasts.
Stephen Halmarick, Sydney-based head of investment markets research at Colonial First State Global Asset Management, which oversees about $150 billion, commented on Europe’s debt crisis in a Bloomberg TV interview today with Susan Li.
Japanese stock futures slid on concern Europe’s debt crisis is deepening and after pending U.S. home sales fell, damping earnings prospects for the Asian nation’s exporters. Australian equities were little changed.
Asian stocks rose, with the regional benchmark index headed for a second month of advance, as the yen touched a 27-month low against the dollar on prospects for more stimulus and China’s industrial companies’ profit gained.
Asian stocks fell, with the regional benchmark index headed for a four-day loss, amid concern Europe’s crisis is worsening and as the International Monetary Fund said China’s economy faces significant downside risks. Suppliers to Apple Inc. tumbled after the company reported earnings that missed estimates.