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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

Monday 23rd November, 2009

  • Gulf countries, South Korea discuss free trade pact

    Asia Pacific News.Net

    Abu Dhabi, Nov 22 (IANS) The six Gulf Cooperation Council (GCC) members and South Korea have concluded a three-day technical meeting as part of negotiations for a free trade agreement between the two parties, WAM news agency reported Sunday.

  • Former Australian cricket stars question Clarke's capacity to captain

    Asia Pacific News.Net

    Melbourne, Nov.22 : Former star players have questioned Michael Clarke's capacity to ascend to the Test captaincy and believe Ricky Ponting must lead Australia to England for Ashes revenge in 2013.

  • Wills wants "no bowing and scraping" during New Zealand, Australia trip

    Asia Pacific News.Net

    London, Nov 22 : Prince William surprised planners on his royal visit to Australia and New Zealand by telling them - "Just call me Will, mate."

  • South Australia Premier silent over barmaid's sex claims

    Asia Pacific News.Net

    Adelaide (Australia), Nov.22 : South Australian Premier Mike Rann has opted to remain silent and out of the public eye over allegations that he had secret intimate meetings with a married Parliament House barmaid.

  • Alex Reid to propose Jordan

    Asia Pacific News.Net

    London, Nov 22 : Katie Price a.k.a Jordan's cage-fighter beau Alex Reid is heading to Australia to propose the glamour model.

  • India to tell US no role for China in South Asia

    Asia Pacific News.Net

    Geneva, Nov.22 : The Prime Minister, Dr. Manmohan Singh, is likely to use his four-day visit to Washington commencing from today, to firmly and emphatically reiterate and re-emphasise to the American leadership, that New Delhi does not see a role for China in South Asia, nor will it tolerate attempted third party guardianship initiatives in the region by Beijing.

  • Death toll climbs in fatal China coal mine blast

    Asia Pacific News.Net

    Beijing, Nov 22 (DPA) The death toll from a gas explosion at a coal mine in north-eastern China rose overnight to 87, with 21 workers still trapped, local media reported Sunday.

  • China told no guardianship role will be appreciated

    Asia Pacific News.Net

    Geneva, Nov.21 : With India raising strong objection to the U.S. suggesting a role for China in South Asia, Beijing seems to be backing away from mediating between India and Pakistan.

  • Dalai Lama says Obama not soft on China

    West Australian

    NEW DELHI (Reuters) - Tibetan spiritual leader the Dalai Lama said on Sunday U.S. President Barack Obama was not soft on China and said he hoped he would discuss Tibet with the Indian prime minister i...

  • China mine disaster kills 92

    West Australian

    The death toll from a coalmine blast in northeast China has climbed to 92 as rescuers hunt for 16 workers still trapped deep underground in the nation's deadliest mine disaster in two years.The ex...

  • Hopes of finding China mine blast survivors fading

    SABC

    Hopes of finding survivors in China's XinXing mine are fading fast. A gas explosion ripped through the mine yesterday, killing 92 miners and leaving 21 trapped underground. Reports say 528 mine worke...

  • 92 killed in China mine explosion

    Daily Nation

    The death toll from China’s latest coal mine disaster reached 92 as hopes dimmed today that more survivors would be found a day after a gas blast at a colliery in the country’s icy far northeast.

  • Explosion in China coal mine kills 42

    Daily Nation

    92 killed in China mine explosion A gas explosion killed 42 miners in a Chinese mine today and 66 remain trapped hundreds of metres underground after the latest accident to hit the world’s deadliest...

  • Survivors recount China mine disaster; 92 dead

    Examiner

    (AP Photo)Rescuers sits on the railway trolley preparing to enter the site of Saturday's gas explosion for search and rescue at the Xinxing Coal Mine in Hegang, Heilongjiang province, China, Sunday, N...

  • 92 perish in China mine disaster

    Channel News Asia

    HEGANG, China: The death toll from a coal mine blast in northeast China climbed to 92 on Sunday as rescuers hunted for 16 workers still trapped deep underground in the nation's deadliest mine disaster...

  • Gulf countries, South Korea discuss free trade pact

    Sify

    The six Gulf Cooperation Council (GCC) members and South Korea have concluded a three-day technical meeting as part of negotiations for a free trade agreement between the two parties, WAM news agency ...

  • China mine disaster kills at least 92

    C News

    Rescue workers seen near the site of Saturday's gas explosion at the state-run Xinxing mine in Hegang in China's Heilongjiang province on Sunday, Nov. 22, 2009. Rescuers worked in frigid cold to reach...

  • China mine explosion death toll reaches 92

    National Post

    Rescuers prepare to enter the Xinxing coal mine to search for survivors following a gas explosion at the mine in Hegang, Heilongjiang Province on Nov. 22, 2009.

  • 29 dead and 17 missing after ferry sinks

    News.com.au

    RESCUERS desperately hunted for survivors in the waters off Indonesia's Sumatra island after a ferry sank in stormy seas, killing at least 29 people.

  • Pacific student uses pen and paper to work through the horrors of combat

    Record Net

    "When I first came back here, I was confused about how I felt about the war," Inzunza said earlier this week during a break between classes at University of the Pacific, where he's finishing his junio...

  • 'Rise of China no threat for India'

    Times of India

    NEW DELHI: Noting that India does not view the rise of China as a threat, Minister of State for External Affairs Shashi Tharoor on Sunday said the two countries cannot afford to have a relationship...

  • Survivors recount China mine disaster; 92 dead

    Deseret News

    HEGANG, China — When gas levels suddenly spiked deep in the Xinxing coal mine, Wang Jiguo grabbed two co-workers and they ran for their lives. Minutes later, there was a huge bang, a torrent of ...

  • Delhi does not see a role for China in South Asia

    Daily Star

    Indian Prime Minister Dr Manmohan Singh is likely to use his four-day visit to Washington commencing Sunday, to firmly and emphatically reiterate and re-emphasise to the American leadership, that New ...

  • 4 perish in Japan bar blaze

    Daily Star

    A fire broke out in a bar in downtown Tokyo yesterday, killing four people and injuring 16 others, both customers and staff, a fire department official said."Firefighters rescued four men and brought ...

  • [11/22] Survivors recount China mine disaster; 92 dead

    Find Law

    HEGANG, China (AP) - When gas levels suddenly spiked deep in the Xinxing coal mine, Wang Jiguo grabbed two co-workers and they ran for their lives. Minutes later, there was a huge bang, a torrent of h...

  • Sands China’s $2.5bn flotation falls short

    Financial Times

    Sands China raised less than expected in its Hong Kong initial public offering because of investor concerns over the resurgent fortunes of its casinos in the world’s largest gambling market.The comp...

  • China mine disaster leaves 92 dead

    Washington Times

    By Cara Anna ASSOCIATED PRESS HEGANG, China — When gas levels suddenly spiked deep in the Xinxing coal mine, Wang Jiguo grabbed two co-workers and they ran for their lives. Minutes later, there...

  • India to tell US no role for China in South Asia

    New Kerala

    By Smita Prakash, Geneva, Nov.22 : The Prime Minister, Dr. Manmohan Singh, is likely to use his four-day visit to Washington commencing from today, to firmly and emphatically reiterate and re-emphasis...

  • Survivors recount China mine disaster; 92 dead

    Examiner

    (AP Photo)Rescuers sits on the railway trolley preparing to enter the site of Saturday's gas explosion for search and rescue at the Xinxing Coal Mine in Hegang, Heilongjiang province, China, Sunday, N...

  • US envoy visits Taiwan to give briefing on Obama's China trip

    Earth Times

    Taipei - The top US official for Taiwanese relations arrived in Taipei late Sunday to brief authorities on US President Barack Obama's recent trip to China. Raymond F Burghardt, chairman of the Board ...

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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.

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