Indonesia raised interest rates last week,flying in the face of the long-standing global trend of cutting them.
BNP Paribas is recommending purchasing Chinese oil major CNOOC shares on rising production and a projected return on equity of 17% next year.
The Federal Reserve has to communicate a complex message that seems to be getting lost in translation,said John Woods,chief Asia Pacific strategist at Citi Private Bank.The market has to understand that the tapering of bond purchases the Fed is suggesting is not the same as tightening monetary policy.
Stock market losses in recent days are more a correction than a reversal.Once summer is past,we expect the underlying fundamentals to reassert themselves,with a slightly positive outlook into the end of the year.
The Australian parliament is convening today for a final two week session before the September 14 election.A poll shows the opposition coalition leading the Labour government of Prime Minister Julia Gillard by 57 to 43%,which translates to a 30 seat advantage.It is the last opportunity for Labour to replace her,yet former Labour leader Kevin Rudd is unpopular within the party and said he isn't interested in returning to the post.
Infosys co-founder Narayana Murthy has been recalled to the executive chairmanship of the software services firm,having left the CEO post 11 years ago.He said recovery at the company will take 36 months,but they will do whatever it takes to stabilise earnings.Sales have reached a four-year low recently.
It will be painful in the short term,but Infosys will revitalise the sales force with incentives and offer flexible pricing on large contracts.
The MSCI Asia Pacific index was up 0.85% as of mid-day Monday.
Infosys Ltd(INFY),CNOOC Ltd(CEO)