Japan’s pension fund announced massive losses of $64 billion
in the three months to September. The Government Pension
Investment Fund lost 8 trillion yen on its Japanese and foreign
stock holdings, worse returns than in 2008.
Japan Post Holdings and its two subunits — Japan Post Bank
and Japan Post Insurance — announced an initial public offering,
making it the country’s biggest sale of state assets. It also
marked this year’s biggest IPO globally as it raised $11.9 billion.
Meanwhile, in China, e-commerce shopping extravaganza
Singles Day emerged as the largest such event in the world, with
sales rising 60 percent year-on-year to a record $14.3 billion,
mostly through one part or another of Alibaba’s e-commerce
network. one part or another of Alibaba’s e-commerce
network.