Smartphone sales. Details about the beijing security law. Shery this is quite a reversal from the deficit we saw in the previous month. We had seen south koreas current account falling to deficit for the first time in about one year but the numbers have recovered and we are seeing a rebound with our current account surplus topping 2 million. When it comes to goods, the trade surplus coming in at 2. 5 billion for the month of may. This is quite a recovery given that we had really fallen to the lowest level since 2008. Good trade surplus numbers. A much better than expected number out of south korea when it comes to the current account surplus and also the goods trade surplus for the month of may. Lets see how markets are trading at the moment. We are seeing now nikkei futures unchanged. Same for u. S. Futures. This after we had stocks here in new york jumping following the holiday weekend. We had seen five sessions of gains for the u. S. Now unchanged at the moment. The japanese yen Hol
Speech is due open a new session of parliament, as brexit deal talks continue. You can keep up to date with the latest developments on the bbc website, at bbc. Com news. Now on bbc news, live to singapore for Asia Business report. Trade war breakthrough. Donald trump says china has already started to buy more american agricultural goods after fridays partial deal. Cash for citizenship. But i want tos controversial new multi billion dollar booming industry. Vanuatus. It is monday, hope you had a great weekend, glad you could join us for another exciting addition of Asia Business report. I am rico his own. Lets begin with the trade war. This morning us President Donald Trump has been tweeting about the partial deal agreed on friday with chinas vice premier. Mist and trump said in that suite, beijing has already started to increase its purchases of american agricultural products. Mrtrump. He american agricultural products. Mr trump. He went on to reiterate washington has suspended its pla
been chasing this property bubble, and in order to create this bubble, offering very very high returns and it works for quite a while because property prices were going up and everybody was sort of a win win for everybody. the everybody was sort of a win win for everybody- for everybody. the property developers for everybody. the property developers could for everybody. the property developers could throw - for everybody. the property developers could throw up i developers could throw up buildings that people thought that they needed, and investors would get the returns of ten or 15%. however, bubbles everywhere crashed, united states it happened in 2009, and that s what s happening now. so therefore all these investment products are no longer worth very much. it is a little surprising but the central government is making this into a criminal case because it s basically a lack of regulation. it is not necessarily that anybody who was stealing the money although that s al
the firm has a sizeable exposure to china s real estate industry that has been rocked by serious financial problems like evergrande and country garden. having a look at how this impacts the chinese economy i have been speaking to andrew collier, an expert on shadow banks. the bigger threat is not so much a meltdown like the united states had in 2009. that occurred because there was lots of liquid products sold in wall street, and when the property market went down, those products very quickly had to be revalued. went down, those products very china, most of its debt is held in these shadow banks and in some of the bricks and mortar banks so the rate of decline can be slowed a little bit. however, the bigger issue is debt. overall, the debt in the property sector is huge. as much as 30% of bank assets, and that will take a long time to unwind, and the central of government is very reluctant to step in and probably can t have enough cash. under the circumstances, what needs to
hostages come out and surge more humanitarian relief in to those who are in need in gaza. we ll hear more on the possibility of an extended truce later, from our correspondent on the ground. it all comes as m more israelis held by hamas including nine children, as well as three foreign nationals were released on sunday. among them is avigail idan the first us citizen to be freed. she was just three at the time she was taken hostage, and she spent her fourth birthday in captivity. her parents were killed by hamas gunmen during the october 7th attacks. members of her family have released a statement, saying. the family also thanked the qatari and us governments for helping to secure her release. here s her grandfather, speaking earlier. translation: it was wow . i couldn t believe it until i saw her. i simply couldn t believe it. now i m a bit more relieved. not relieved completely, because there is happiness mixed with missing abigail s parents. there are other people w