South Korea's Financial Supervisory Service is reportedly seeking bids for an online service that would advise ordinary investors. An April launch is said to be planned. "Using this online system, consumers will be able to have their financial status checked and understand what they can do to increase their wealth," an FSS official said.
The Bank of Japan's current forecast for economic growth is too optimistic, analysts say, and the bank is not expected to offer a still more favorable outlook when it meets next week. One key factor is an uneven global recovery that shows little sign of improvement.
China's manufacturing is picking up a bit this month. The preliminary Markit/HSBC Purchasing Managers Index for October of 50.9 is up from September's 50.2 for the strongest reading in seven months. "China's growth recovery is becoming consolidated into the fourth quarter following the bottoming out in the third quarter," HSBC economist Qu Hongbin said in a statement.
The formation of an international consortium led by Kyobo Life Insurance is reportedly under consideration to make a bid for South Korea's Woori Bank and Woori Finance Holdings. Other parties that might join the bid include Softbank, Macquarie Group and JPMorgan.
Precautionary measures are in order by India's central bank and the Securities and Exchange Board of India as the U.S. Federal Reserve prepares to scale back its stimulus in the new year, said Finance Minister P. Chidambaram. The U.S. move, when it comes, is expected to reduce the flow of funding into emerging economies globally.