10 Things You Need To Know Today

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Here's what you need to know :

  • Asian markets were higher in overnight trading, with the Japanese Nikkei advancing 3.7 percent, the Shanghai Composite up 0.1 percent, and the Hang Seng up 0.5 percent. European markets are in the red with the exception of the FTSE in London, up 0.5 percent. In the United States, futures point to a positive open.
  • News yesterday that Bank of Japan Governor Masaaki Shirakawa would step down on March 19 – three weeks before his term is scheduled to end – helped to propel the Nikkei 3.7 percent higher today. Investors anticipate a radical shift in monetary policy under the new leadership of the central bank.
  • Australian retail sales declined another 0.2 percent in December on broad-based weakness against economists' estimates of a 0.3 percent rise. The third month of contraction marks the longest stretch of decline in 13 years.
  • German factory orders rose 0.8 percent in December, slightly ahead of estimates of a 0.7 percent advance. Orders from the euro area surged 7 percent in December while domestic sales registered a 1.2 percent contraction.

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