Asian stocks fell this week, with the benchmark measure capping its longest weekly losing streak since June, amid concern the U.S. Federal Reserve may soon decide the economy is strong enough to begin paring stimulus and as investors awaited a meeting of China’s leaders this weekend.
Industrial metals led a gauge of commodities to a four-month low, while the dollar weakened and Treasuries rose, as investors assessed economic data for clues to future policy moves from central banks. U.S. shares rose a second day and European stocks closed at a five-year high.
The iShares MSCI Emerging Markets Index exchange-traded fund advanced for a second day as Vale SA drove gains in commodity producers after an official report fueled optimism that China’s economic growth is picking up.
KB Financial Group Inc. was among firms that made initial bids for Woori Finance Holdings Co.’s brokerage unit and five other divisions, as South Korea attempts to privatize the nation’s biggest financial group by assets.
South Korea received a first round of offers to buy Woori Finance Holdings Co.’s two regional banks as part of the government’s latest attempt to privatize the nation’s biggest financial group by assets.