Overnight roundup courtesy of Spreadex 12/09/13

Asian shares have traded little changed overnight after climbing some  6.6 percent in the last 10 days. Equities across all headline indices have surged amid signs the global economy is improving. While the situation in Syria has calmed for now and China looks like it’s seen the worst of its slowdown, buying after the Olympics news seems to have run its course and the yen has stopped weakening, making exporters less attractive. 

The White House has warned that whilst the U.S are no longer on the brink of military intervention in Syria, a diplomatic solution will take “some time”. Obama has pledged to pursue talks despite scepticism from U.S. lawmakers that Damascus would make good on a Russian plan to surrender its chemical weapons. 

There is a suspicion that with no other major catalysts to spark further gains or trigger a sell-off, investors may decide to hold fire until the Federal Reserve meeting due to be held next Tuesday-Wednesday. The Federal Reserve has said any reduction in stimulus will be tied to a sustained recovery in U.S. employment. The majority of economists surveyed believe the central bank will decide to cut its $85 billion in monthly bond purchases when it meets Sept. 17-18. 

Britain embarked on its largest privatisation in decades when it said it would float the majority of the near 500-year-old Royal Mail postal service. The government said a stock market flotation would take place in coming weeks but it said the size of the sale would depend on market conditions.