That really has been down to currencies. The dollar index is up at the moment, but if you look at it over 24 hours, actually, its down by. 3 ,. 4 percent. One of the main beneficiaries of crown weakness has been strength. Sterling has been propelled about 1. 5 in the last day or thereabouts. The dollar weakness has been felt with the yen also moving to the upside. Theres another reason we are seeing upside on equities in japan. Gold not a major beneficiary, though it was at oneweek highs at one stage after the dollar was sagging earlier on. Thats a look at markets. Lets head over to tom. Tom lets get you up to speed with some of the other first word headlines. The Trump Administration is ramping up tensions with china once again, designating six asnland Media Outlets foreign which it says are controlled by beijing. They include the economic daily, which provides a look at beijing economic news. The Administration Says all six are substantially owned or by atively controlled foreign gov
These tech heavy benchmarks doing better than what we saw on friday. We are watching hong kong closely after we saw them arrests made after protests returned to the city. Looks like they are shrugging that off. Pretty steady for the euro. That ecb meeting on thursday. A lot of questions about how to tackle this euro strength. This has been pretty volatile of late. We get another round of brexit negotiations. Your off to your offshore revenue will be continuing. They onshore rate has had the highest stretch. Bond markets have been falling. Pickuptreasury yields after the u. S. Job report. These are back to the prepandemic levels now. Hedge inll a good these markets. Brent crude still following what we saw with oil markets. Around 42. Lets get more analysis now. With eight Market Strategist. What is your assessment of what the key drivers are behind markets in this part of the world . Good morning. Thank you for having me today. I think we are seeing an interesting trend. We have the sit
South korea. Infections slow in japan, but young adults becoming more vulnerable. Do infections in new zealand itsend weaken reputation as a covid19 beater. The Prime Minister is delaying the election. Down that is weighing matters in new zealand, but lets look at u. S. Futures. Uncertainty continues to plague markets as we kick off this new session in asia. Uncertainty when it comes to trade with the phase one meetings being postponed indefinitely. We are also getting an indefinite stalemate when it comes to stimulus talks, as well as uncertainty over the future of mailin voting and usps. Theve futures trading on s p, positive 5. 1 . The nikkei 225 up by about. 25 . We are continuing to watch price action on the topics, the worlds best performing index in august as we continue to see the encouraging recovery in industrials and financials. The japanese economy sent to crater by a record in the latest quarter. We are getting gdp numbers later today. In new zealand, back to one of the to
3000 jobs will be cut under bains new ownership. Bain capital ownership, which in addition to these details relating to jobs, we are also expecting to hear about aircraft fleet and the future as well, this after bain bought Virgin Australia in what is a pretty bold that on an industry that has been shattered by the travel restrictions and the coronavirus pandemic. Virgin australia committed to regional and charter flying. Of targetsindication and priorities when they are restructured in addition to 3000 jobs being cut. Also getting data out of australia. Manufacturing pmi, services as well as composite index coming through. Dropping from that preliminary number for july. The composite number of 67. 8 also a little bit weaker. The performance of Construction Index coming in at 42. 7, higher than 39. 5. Lets take a look at the aussie dollar. Largely to do with the situation in victoria. We have that renewed lockdown, stricter stage four restrictions. At this time, later on today and tomo
30 in the u. S. In the second quarter. It is looking to be pretty dire right now. The nikkei seems to be the outlier given that they were closed on friday. Haslinda taking a look at where we are right now. We talk about how we are down 3 , the selloff making chinese stocks pretty cheap. At least 20 low the 10 year average. Sti down about 70 . Singapore allies, that stock is slumping after canceling 90 of capacity. Year to date, down about 33 . Crude currently down about 1 on in termsof a 23 slide of crude prices just last week. 1500, way off from what we were expecting late last year, inching toward 1800. Yvonne lets get more context with our Bloomberg Markets coag or, david ingles coanchor, david ingles. He is at home. What stood out to you . Boj firsthad the expanding more than it was originally planning. New zealand with the big announcement this morning that they are also planning to undertake some sort of qe as well. Australia has also widened the scope of its bond buying operatio