tailieunhanh - Guide to the Markets ASIA 2013

We are thankful to all the members of the BSMA Committee on Social Sciences and Heads of Departments (Social Sciences) of all SAUs, who sent their comments and suggestions, and specially to distinguished participants who attended the meeting/ workshops and made valuable suggestions and contributions in the development of post graduate course curricula and syllabi of social science disciplines. Thanks are also due to Dr. . Mehta, Ex DDG (Edu) and Dr. (Mrs) Tej Verma, ODD (Edu) Incharge for their support and encouragement in revising the curricula. We gratefully acknowledge the guidance and encouragement received from Dr. R. S. Paroda, Ex-Secretary, DARE and Ex-Director General, ICAR and. | MARKET INSIGHTS 2Q 2013 As of March 31 2013 Guide to the Markets ASIA JPMorgan Asset Management MARKET INSIGHTS Table of Contents REGIONAL AND LOCAL ECONOMY 4 GLOBAL ECONOMY 25 EQUITIES 38 FIXED INCOME 50 OTHER ASSETS AND INVESTOR BEHAVIOUR 59 Global Market Insights Strategy Team Dr. David Kelly CFA Tai Hui Geoff Lewis Yoshinori Shigemi Grace Tam CFA Ian Hui Ben Luk Past performance is no guarantee of comparable future results. For China and Australia distribution please note this communication is for intended recipients only and is for wholesale clients only in Australia. For details please refer to the full disclaimer at the end. Asset Management 2 MARKET INSIGHTS Page Reference Regional and Local Economy Equities 4. Contribution to Global GDP and Asian Middle Class 5. Asia Inflation 6. ASEAN-5 Returns vs. Fundamentals 7. ASEAN-5 Trade and Competitiveness 8. Australia Economic Snapshot 9. China Economic Growth and Inflation 10. China Cyclical Indicators 11. China Balance of Payments and Trade 12. China Monetary Policy 13. China Real Estate 14. Hong Kong Economic Snapshot 15. India Economic Growth Inflation and Monetary Policy 16. India Trade and Fundamentals 17. India Profits and Flows 18. Japan Economic Snapshot 19. Japan Trade 20. Japan Monetary Policy and Currency 21. Japan Federal Finance and Structural Trends 22. Korea Economic Snapshot 23. Taiwan Economic Snapshot 24. Korea and Taiwan Trade Global Economy 38. Global Sectors Returns 39. Global Earnings Expectations 40. Global Dividend Income 41. DM vs. EM Earnings and Dividends 42. Asian Equity Markets Returns 43. Asian Equity Markets Index Composition 44. Asian Equity Markets Valuations 45. Asian Equity Markets Valuation Analysis 46. Asian Equity Markets Relationship with US Interest Rates 47. Asia Dividend Income 48. .