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Asia Pacific Focus  

Asia Pacific leads world in creating wealth


Asia Pacific leads world in creating wealth

The Asia Pacific region houses a higher proportion of High Net Worth Individuals (HNWIs) than any other region on earth.

The claim is part of the World Wealth Report prepared by Merrill Lynch which studied wealth effects in seventy one countries, which account for 98% of global gross income and 99% of world stock market capitalization.

The asset wealth calculations in the report are derived from private equity holdings (at book-value), publicly listed equities, bonds, funds, and cash deposits. They do not take account of consumables, consumer durables, privates homes used as principal residences or collectibles.

The 2009 World Wealth Report estimates that in 2008 the number of HNWIs reduced by nearly 15%. The wealth of the remainder declined by nearly 20%. While the Asia Pacific leaped ahead it also hosted the state with the bigger loss of HNWIs, Hong Kong, which shed around 60%.

China was the winner big with wealthy individuals mushrooming to the point where the country has become the fourth largest population of HNWIs, in front of Great Britain.

In terms of figures, the population of High Net Worth Individuals has now been slimmed to 8.6 million, and their wealth had reduced down to $32.8 trillion.

An interesting note is that Japan accounts for 50% of the high net worth individuals in the Asia Pacific region, and they in 2008 lost only 11% of their worth.

Perhaps Asia Pacific News.Net should point out High Net Worth Individuals (HNWIs) are counted as such if they have at least $1 million (US dollars) in investment assets, excluding their residence, collectibles, consumables, and consumer durables.

Ultra-High Net Worth Individuals (Ultra-HNWIs) hold at least US$30 million in investment assets, excluding their primary residence, collectibles, consumables, and consumer durables.


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Asia Pacific News Feed

Tuesday 9th February, 2010

  • China jails quake activist for five years on subversion charges

    Asia Pacific News.Net

    Beijing, Feb 9 (DPA) China on Tuesday sentenced a rights activist to five years in prison after convicting him of subversion for compiling documents, including a list of children who died in the 2008 Sichuan earthquake, supporters said.

  • Multi-nation exercise Milan concludes successfully in Andaman

    Asia Pacific News.Net

    Port Blair, Feb 8 : The multination naval exercise hosted by the Indian Navy at Andaman and Nicobar islands with an aim to build mutual confidence between the navies of the Asia Pacific region successfully concluded with a passage exercise at sea on Monday.

  • Rajasthan Royals form global alliance

    Asia Pacific News.Net

    London, Feb 8 (IANS) Rajasthan Royals, the inaugural Indian Premier League (IPL) champions Monday joined forces with Hampshire, Cape Cobras, Trinidad and a yet-to-be-confirmed Australia state team for a global alliance here at Lord's.

  • Australia announce squad for hockey World Cup

    Asia Pacific News.Net

    Melbourne, Feb 8 (IANS) Champions Trophy winners Australia announced an 18-member squad for the hockey World Cup beginning in New Delhi Feb 28.

  • China gives parents power to pull the plug on kids' web games

    Asia Pacific News.Net

    New Delhi, February 8 : Parents in China can make use of a program that can help terminate their kids' online gaming accounts.

  • Increased snowfall in Antarctica linked to Australian drought

    Asia Pacific News.Net

    Sydney, Feb 8 : Reports indicate that scientists have discovered a link between the ongoing drought in the south western corner of Australia and increased snowfall in parts of Antarctica.

  • China closes 'biggest hacker site', arrests three

    Asia Pacific News.Net

    Beijing, Feb 8 (DPA) Police have shut down China's biggest website for hackers and arrested three people suspected of selling malicious software and other hacking services, state media said Monday.

  • Australia aiming to have unbeaten summer home season: Bollinger

    Asia Pacific News.Net

    Melbourne, Feb 8: Australian fast bowler Doug Bollinger has said that his team is aiming to whitewash West Indies in the ODI series and go through the home season unbeaten.

  • 'Australian attacks on Indians, Nepalis not racist'

    Asia Pacific News.Net

    Kathmandu, Feb 8 (IANS) With Australia reporting the first attack on a Nepali student after a series of assaults on Indians, an education consultant in Nepal says the incidents should be regarded as criminal attacks and not racist.

  • China recalls over 170 tons of contaminated milk powder in latest crackdown

    Asia Pacific News.Net

    Beijing, Feb.8 : Chinese health monitoring authorities have recalled over 170 tons of milk powder during a ten -day nationwide crackdown on melamine-tainted dairy products.

  • China shuts down country's largest hacker training site

    Asia Pacific News.Net

    Beijing, Feb.8 : China has shut down the country's biggest hacker training site in Central Hubei province.

  • China jails Sichuan quake activist Tan Zuoren for subversion

    Times Online

    END: Module - M24 Article Headline with no image --> BEGIN: Module - Main Article --> In a sign of Beijing's renewed hard line against dissent, a Chinese activist has been jailed for...

  • China Power denies $69b deal with Resourcehouse

    West Australian

    China Power International has denied it has signed a $US60 billion ($A69.38 billion) deal to buy coal from Australian miner Resourcehouse.The company said its deal with the Clive Palmer-controlled com...

  • China builds lighthouse to back East China Sea claim

    West Australian

    BEIJING (Reuters) - China has finished building a series of lighthouses and stone tablets on islands and reefs off its coast to delineate its territorial waters in the disputed East China Sea, Xinhua ...

  • China Times: Like a candle in the wind

    Taiwan Headlines

    Europe's sovereign debt crisis has shattered the optimism and hope that recently pervaded financial markets amid an economic recovery. The world suddenly panicked over the possible resurgence of the g...

  • China jails quake activist for five years on subversion charges

    New Kerala

    Beijing, Feb 9 : China on Tuesday sentenced a rights activist to five years in prison after convicting him of subversion for compiling documents, including a list of children who died in the 2008 Sich...

  • Pacific Island nations gather for UN meet

    New Kerala

    New York, Feb 9 : Top officials from 14 small island developing nations in the Pacific Ocean are gathering in Vanuatu for a United Nations-backed meeting to review strides made in sustainable developm...

  • Toyota recalling Prius in Japan for brakes

    The Miami Herald

    Damage to Toyota's image is growing by the day with the automaker now considering a U.S. and Japanese recall of Prius hybrids - the vehicle that's a symbol of its technological prowess and green car a...

  • China sentences quake activist to 5 years' jail

    The Miami Herald

    A Vietnamese court convicted a journalist and democracy activist of assault and sentenced her to three-and-a-half years in prison Friday in a one-day trial that rights groups said was meant to silence...

  • China sentences quake activist to 5 years' jail

    KTNV

    BEIJING (AP) - A Chinese court Tuesday sentenced an activist who investigated the deaths of thousands of schoolchildren in the country's massive 2008 earthquake to five years in jail for inciting ...

  • Toyota recalling Prius in Japan for brakes

    KTNV

    By YURI KAGEYAMAAP Business Writer TOKYO (AP) - Toyota is recalling about 170,000 Prius hybrid cars in Japan for braking problems and will soon disclose its global plans for a fix as the automaker sc...

  • North Korea repeats disarmament pledge

    Jerusalem Post

    North Korean leader Kim Jong Il reiterated his country's pledge to achieve a denuclearization of the Korean peninsula when he met a senior Chinese envoy, Beijing's official news agency reported Tuesda...

  • Taiwan export, import values hit 16-month high in January

    Digitimes

    Taiwan's export and import values in January both hit the highest levels in 16 months, according to statistics released by the Ministry of Finance (MOF) on February 8.

  • North Korea committed to denuclearization, Kim Jong Il tells China

    Earth Times

    Beijing - North Korean leader Kim Jong Il has told Chinese officials that his country remains committed to denuclearization through six-nation talks, Chinese state media reported Tuesday. "The sinceri...

  • China jails quake activist for five years on subversion charges

    Earth Times

    Beijing - China on Tuesday sentenced a rights activist to five years in prison after convicting him of subversion for compiling documents, including a list of children who died in the 2008 Sichuan ear...

  • Top-5 Taiwan LCD panel makers combine to lose NT$113.3 billion in 2009

    Digitimes

    The five largest Taiwan-based TFT-LCD panel makers suffered an aggregate net loss of NT$113.3 billion (US$3.45 billion) in 2009, with Chunghwa Picture Tubes (CPT) recording the highest net loss of NT$...

  • China sentences quake activist to 5 years' jail

    The Seattle Times

    A Chinese court Tuesday sentenced an activist who investigated the deaths of thousands of schoolchildren in the country's massive 2008 earthquake to five years in jail for inciting subversion of state...

  • PIGS no problem for 'low deficit' Australia

    ABC Australia

    A senior economist says the economic risk to Australia from sovereign debt problems in parts of Europe is very low. Portugal, Ireland, Greece and Spain (now dubbed the 'PIGS' by some traders and anal...

  • Toyota recalling Prius in Japan for brakes

    Sify

    Toyota is recalling about 170,000 Prius hybrid cars in Japan for braking problems and will soon disclose its global plans for a fix as the automaker scrambles to repair damage to its reputation from a...

  • China builds lighthouse to back East China Sea claim

    The Star

    BEIJING (Reuters) - China has finished building a series of lighthouses and stone tablets on islands and reefs off its coast to delineate its territorial waters in the disputed East China Sea, Xinhua ...

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Asia Pacific News.Net is part of an international network of news sites, dedicated to the major regions, countries and cities of the world.

The network has been developed over a number of years, utilising local, national and international resources. This particular portal features all the latest breaking Asia Pacific news, collating headlines and stories from a variety of sources, including global TV networks, major newspapers, news wires, and our own dedicated journalists.

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