Pacific pact to reshape stock portfolios along trade flows

The 12 nations of the Trans-Pacific Partnership (TPP) could wrap up an agreement in coming weeks, after the pact cleared a major U.S. hurdle with Congress’s decision to give broad negotiating authority to President Barack Obama. The deal, which covers 40 percent of the global economy and is expected to deliver $295 billion in annual global economic gains, will have long-term implications for Pacific Rim companies, and for competitors in countries that are late to the party or don’t join. Although details of the deal are still under wraps and full implementation is years down the track, fund managers are starting to look at the implications for long-term positioning. Read more at Drovers CattleNetwork…