Thursday’s best web covers Starbucks continued expansion in Brazil, growing Chinese investments to grow GDP, investing opportunity in the emerging market banking sector, free trade negotiations between Korea and Vietnam, and Malaysia’s June export numbers surprise.
Jim O’Neill of Goldman Sachs is well known as the man who coined the acronym BRIC. He has now created another acronym gaining traction thanks to a fund he launched last year: MIST, which stands for Mexico, Indonesia, South Korea and Turkey.
Citigroup CEO Vikram Pandit grabbed a few headlines last week after making comments reflecting an optimistic viewpoint of emerging markets.
While high beta stocks significantly outperformed in the United States, the same cannot be said for Asian markets, many of whom struggled on the back of Japan. Nippon underperformed as the result of poor trading in financials and power companies.
If you think Sex And The City proves Manhattan is the epicenter for narcissism and conspicuous consumption, think again. According to the Financial TImes, the world’s first handbag museum opens today in an upscale shopping district of Seoul, South Korea.
Asian markets finished mixed after Ben Bernanke’s much-anticipated press conference on the health of the U.S. economy did not have a discernible effect on Asian markets. As well, more fears over the prospects of the Chinese economy adversely affected some Asian markets.