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Four of investors’ top 5 favorite investment destinations are in Europe, Milken Institute report shows

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Traders work on the floor of the New York Stock Exchange (NYSE) in New York.

Four of investors’ top five favorite destinations are in Europe, according to the Milken Institute’s Global Opportunity Index (GOI) report.

Denmark topped this year’s rankings, scoring first on business perception, a measure of the ease of doing business in a country as well as other regulatory metrics.

The index factors in 100 indicators under five categories: business perception, economic fundamentals, financial services, institutional framework, and international standards and policy.

Denmark ranked third on economic fundamentals which capture macroeconomic performance, workforce talent, and “efforts to create a resilient and sustainable economy and society,” according to the report.

These are the top five countries that investors find attractive, according to the latest GOI report:

  1. Denmark
  2. Sweden
  3. Finland
  4. United States
  5. United Kingdom

The U.S. moved up one spot to the fourth position this year, ranking highest in the institutional framework category, which tracks the protection a country’s institutions offer to investors’ rights and their assets.

The country ranked fifth in the financial services category, which evaluates the overall financial system in a nation as well as the accessibility to finance.

Finland which placed third overall, was ranked highest in the international standards and policy category that evaluates economic openness and the extent to which a country’s policies are aligned with global regulatory and intellectual property protection standards.

Emerging and developing Asia performed well compared to other E&D regions, drawing more than half (53.2%) of the funds flowing into E&D countries between 2018 and 2022, according to the report.

“While advanced economies provide stability, investors seeking high-growth returns continue to show interest in emerging and developing economies,” Maggie Switek, Senior Director of the research department at The Milken Institute, said in a statement.

Among Asian E&D economies, Malaysia emerged as investors’ favorite and ranked 27th globally.

It has the “best investment conditions” among all E&D economies, and ranks well on institutional frameworks, partially due to the fact that the country “has very strong investors’ rights,” Switek said.

Malaysia is also now the sixth largest chip exporter in the world and packages 23% of all U.S. chips, according to The New York Times.

Overall, E&D regions “offer attractive opportunities to investors interested in emerging markets with favorable growth potential,” the report said.

Rising tensions between the U.S. and China, however, have hit inflows to Asian E&D economies, down 75.4% in 2022, the report added.

The world’s second-largest economy, China, came in at 39th place. “That’s actually pretty high,” Switek told CNBC’s Squawk Box Asia, adding it is still an emerging and developing Asian economy according to the IMF.

“While China attracted more than half of total capital inflows to E&D Asia between 2018 and 2022, its appeal to investors appears to have decreased recently, likely due to rising geopolitical tensions with the US,” the report said.

Here are the top 10 E&D Asian countries on the Global Opportunity Index:

  1. Malaysia
  2. Thailand
  3. China
  4. Indonesia
  5. Vietnam
  6. India
  7. Mongolia
  8. Sri Lanka
  9. Philippines
  10. Cambodia

Singapore topped Asia as investors’ favorite country in the region, and grabbed the 14th place globally. Hong Kong and Japan ranked 15th and 16th, respectively, in Asia.

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Investment

S&P/TSX composite up more than 100 points, U.S. stock markets mixed

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TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 103.40 points at 24,542.48.

In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.

The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.

The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.

The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.

This report by The Canadian Press was first published Oct. 16, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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Economy

S&P/TSX up more than 200 points, U.S. markets also higher

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TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.

The S&P/TSX composite index was up 205.86 points at 24,508.12.

In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.

The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.

The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.

The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.

This report by The Canadian Press was first published Oct. 11, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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S&P/TSX composite little changed in late-morning trading, U.S. stock markets down

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TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.

The S&P/TSX composite index was up 0.05 of a point at 24,224.95.

In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.

The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.

The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.

The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.

This report by The Canadian Press was first published Oct. 10, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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