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By Wang Bo and Jiao Xiaoyang
BEIJING — Agricultural Bank of China (ABC) has seen a 26.3 percent surge in its net profit for 2009 as the country's third-largest lender reaped gains from the country's rapid credit expansion and reform of its rural operations, said its chairman Xiang Junbo.
Agencies
BANGKOK — Thailand kept its benchmark interest rate unchanged for a seventh meeting, refraining from following neighbor Malaysia in raising borrowing costs as political protests threaten the nation's economic recovery.
Agencies
NEW YORK — The yen may retain gains that made it the best-performing major currency this year as returns in Japan adjusted for inflation exceed the US's, damping the impact of the central bank's efforts to drive down borrowing costs, Brown Brothers Harriman & Co said.
Agencies
TOKYO — Hedge funds returned 0.5 percent in February, led by North American managers, as global stock markets rose on signs of recovery in corporate earnings and signs that US interest rates will remain low, Eurekahedge Pte said.
Agencies
NEW YORK — China will limit the yuan's appreciation to 4 percent over the next 12 months because of a "super cautious" outlook on the global economy, said New York University Professor Nouriel Roubini.
By Jiao Xiaoyang
Much to the chagrin of believers in "value investing", there's no doubt that a good story alone can move prices.