Japan’s Nikkei Jumps Above 13,000 on BOJ Stimulus
(BANGKOK) — Japan’s benchmark stock index surged above 13,000 for the first time in more than four years Friday, a day after the country’s central bank announced aggressive action to lift the economy out of an extended slump. The Bank of Japan unveiled plans Thursday to pump huge amounts of money into the financial system in order to spur spending and borrowing in an economy that has suffered from growth-crippling deflation for years. The central bank’s announcement dragged down the yen, giving a boost to shares of Japan’s powerhouse manufacturers. A cheaper currency makes Japanese goods less costly for Americans and other foreigners and raises the value of repatriated profits. The Nikkei 225 in Tokyo soared 3.8 percent to 13,109.58, its highest level since August 2008. The dollar rose to 97.06 yen from 96.13 yen late Thursday. The dollar was at about 92.80 before the BOJ’s two-day policy meeting ended with its dramatic announcements Thursday. (MORE: Japan Central Bank Revamps ...
Asia Markets: Japan stocks slide while Australia trades up
Japan’s stock market slides Tuesday even as other markets across Asia hold up. Australia gains ahead of central-bank policy decision.
Top 20 Countries for Retirement Security
intro: The United States has ranked 19th among 150 countries listed by retirement security, behind many Eastern and Western European countries, according to Natixis Global Asset Management firm. The firm, headquartered in Boston and Paris, released its first Global Retirement Index on Thursday, measuring how well retired people live based on health measures, income levels, a country's financial state and quality of life. The analysis used data from the World Bank and United Nations. Tracy Flaherty, senior vice president with Natixis, said she hoped the analysis will spark a conversation between individuals, employers, pension plans, and policy makers about the need to reform or re-think retirement. "At the end of the day, there is a movement worldwide for people to take more personal responsibility for their retirement," Flaherty said. The U.S. finished with a final score of 74 percent. The top ranking went to Norway, which had an 87 percent score, according to Natixis. The company said ...
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Asia Markets: Asia stocks gain, smartphone sales help Japan
Asia stocks gain, as several Japanese telecom and technology companies benefit from smartphone exposure, while South Korea and Australia also see some buying ahead of a policy decision from the U.S. Federal Reserve.
Forget the Fiscal Cliff: Why Obama Is in Asia
It might seem strange that newly re-elected President Barack Obama has chosen this moment to jet off to Asia. After all, he’s left a mess of problems back home. The White House is in the midst of tense negotiations with Republican Congressmen over a budget compromise to avoid the looming “fiscal cliff.” The nation is still smarting from a long and divisive election. And even in the realm of foreign policy, Asia doesn’t seem to be the priority right now, with a conflict escalating between Israel and Hamas in Gaza. Obama isn’t even visiting Japan or South Korea, historically America’s most important allies in Asia, or landing in China to deal with Washington’s many economic issues with the world’s second largest economy. Instead, he’s attending a summit in Cambodia of the leaders of the Association of Southeast Asian Nations (ASEAN) and others from the region, and making the first visit by a U.S. President to Burma (also known as Myanmar). Over the weekend, he toured a Buddhist ...