Economy
In reply to the discussion: STOCK MARKET WATCH -- Monday, 30 January 2012 [View all]Ghost Dog
(16,881 posts)Jan. 30 (Bloomberg) -- Vasu Menon, vice-president of wealth management at Oversea-Chinese Banking Corp., talks about U.S. and Asian stocks. Menon also discusses Europe's sovereign debt crisis, the U.S. economy, and People's Bank of China monetary policy. He speaks from Singapore with Susan Li on Bloomberg Television's "First Up." (Source: Bloomberg)
Emerging-market stocks fell on concern China may not ease monetary policy and before Europes leaders meet to discuss their debt crisis.
The MSCI Emerging Markets Index (MXEF) lost 0.9 percent to 1,007.59 as of 10:05 a.m. London time. The Sensitive Index, or Sensex (SENSEX), slid 1.9 percent in Mumbai. Benchmark indexes fell at least 0.8 percent in Russia and South Africa as commodity prices fell. Taiwans Taiex Index (TWSE) surged 2.4 percent on its first day of trading after holidays for the Lunar New Year. The Shanghai Composite Index (SHCOMP) lost 1.5 percent after a week-long closure.
China held off from cutting bank reserve requirements last week after Barclays Capital Asia Ltd., JPMorgan Chase & Co. (JPM) and Industrial Bank Co. predicted this month that the reserve ratios were likely to fall before the holidays. European Union leaders arrive in Brussels today to put the finishing touches on a deficit-control treaty and endorse the statutes of a 500 billion-euro ($656 billion) rescue fund to be set up this year.
There will be a lot more volatility, Vasu Menon, vice- president of wealth management at Oversea-Chinese Banking Corp., said in a Bloomberg Television interview from Singapore. The key event for this week is whether Greece is able to solve its debt problem.
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