Larger banks will dominate the future

Over the past two months, Far Eastern stock markets have given back some of the year-to-date gains in sympathy with a weak Wall Street. While US-centric issues of corporate profitability, volatile retail sales, the integrity of reported earnings and generally positive economic releases were overwhelmed by negative investor sentiment in US markets, Asian economies continue to signal that an economic recovery is well and truly under way. GDP in Asia (ex-Japan) is likely to expand in excess of 3.5% this year followed by equally robust growth next year. New World Trade Organisation membe...