* Banks lead China stock resurgence
* Indonesia lifts interest rate for second time in two weeks
* Abu Dhabi plans to invest up to $5bn in Russian infrastructure
* Chinese PM commits to financial reform
* Putin takes to the NYT opinion pages
* Emerging Stocks Retreat From Three-Month High; Rupiah NDFs Jump
* China navy plots course to stock market
* China sees rising appetite for corn imports
* Kashagan oilfield begins production
* Chilean and African drugmakers unite in $1.3bn deal
* SocGen is exploring the sale of its Asia private banking arm
* Markets: mixed
Banks lead China stock resurgence
For the hedge fund managers shorting Chinese financials, the past few weeks have been tough. China’s bank stocks are back in demand, and they are taking the broader equity market with them.
Indonesia lifts interest rate for second time in two weeks
Indonesia surprised investors on Thursday by raising interest rates for the second time in two weeks as it seeks to stem the slide in the value of the rupiah and cool inflationary pressures.
Abu Dhabi plans to invest up to $5bn in Russian infrastructure
Abu Dhabi is planning to invest as much as $5bn in Russian infrastructure projects over the next seven years in a move highlighting Russian efforts to attract sovereign wealth money.
Chinese PM commits to financial reform
Li Keqiang, the Chinese premier, has vowed to overhaul state-dominated financial institutions, liberalise interest rates and eventually make the renminbi freely convertible in a sweeping restatement of the newly installed government’s economic reform agenda.
A plea for caution from Russia
“Recent events surrounding Syria have prompted me to speak directly to the American people and their political leaders,” writes Vladimir Putin.
Emerging Stocks Retreat From Three-Month High; Rupiah NDFs Jump
Developing-nation stocks fell, led by India, after a six-day rally sent the MSCI Emerging Markets Index to the highest level in three months. Rupiah forwards surged after Indonesia unexpectedly raised interest rates.
China navy plots course to stock market
Capital markets have funded wars for centuries. Now the People’s Liberation Army is also turning to the stock market to help propel China’s ambitious naval expansion plans.
China sees rising appetite for corn imports
More money to spend and a growing taste for meat on the dinner table are transforming China’s appetite for corn imports. The effect on global food markets could be profound.
Kashagan oilfield begins production
The long-delayed supergiant Kashagan field in Kazakhstan has produced its first oil, putting the Central Asian country on course to become one of the biggest crude producers in the world over the next decade
Chilean and African drugmakers unite in $1.3bn deal
CFR Pharmaceuticals, Chile’s largest pharmaceuticals company is about to get even bigger after agreeing to pay $1.3bn for South Africa’s Adock Ingram Holdings, in a deal that would expand CFR’s reach across four continents.
“Societe Generale, France’s No. 2 listed bank, is exploring the sale of its Asia private banking arm, people familiar with the matter told Reuters, seeking to exit a market where small managers are getting hit by rising costs and competition. The Singapore-based division could fetch around $600 million…”
MSCI Emerging Market Index down -0.06% at 991.31
FTSE up -0.14% at 6,579
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DJIA up +0.89% at 15,327
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Bovespa down -0.76% at 53,570
Nikkei 225 down -0.26% at 14,387
Topix down -0.41% at 1,184
Hang Seng up +0.07% at 22,954
Shanghai Composite up +0.64% at 2,256
MSCI Asia ex-Japan down -0.21% at 460.52
CNX Nifty down -1.06% at 5,851
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