Indias Finance Minister tells the bbc his decision to pull large banknotes from his nation was justified. And we find out more about a 7 billion refinery being built in malaysia. Good morning, asia. Hello, world. Thank you for investing your time in Asia Business report. Its a tuesday. I am sharanjit leyl. Report. Its a tuesday. I am shara njit leyl. India report. Its a tuesday. I am sharanjit leyl. India will release its Fourth Quarter gdp figures in just a few hours. And those will give us a very good indication of what impact the governments the Monetisation Drive has had. They banned five types of notes last year to crack down on illegal cash holding and counterfeit notes. But It Hit Agriculture and industry hard. We report. Three months ago, these tomatoes were ripe and ready to be harvested. This field would have produced about 30,000 kilos of them. But this farmer simply had to let them go after the government withdrew most of indias Currency Notes in november last year. People
We are streaming on your mobile and bloomberg. Com. There has been Economic Data coming out of japan in the last 30 minutes. We have had rosalynn taking a look. One key surprise, industrial output beat expectations. Not a huget was up amount, but still better than the forecast which was for it to fall i 1. 5 . By 1. 5 . This came as a surprise because economists have seen april is a week month for weak month for output. This was seen as perhaps a factor that could have affected just your production. It looks like he did not affected as much as some thought it would. There was also some flash manufacturing pmi from may that came out last week that pointed to a weak performance. Are from the data today that the picture does not look as bad as expected, at least for industrial. Angie also job figures. Showedd jobless figures up limit was 3. 2 , in line with excitations. Expectations. Also that is no change from march. The job to applicant ratio previously, and now it is 1. 34. The labor m
Is resolved. Of president xi jinping shut down. Let us know what you think about our top stories. Follow us on twitter at rishaadtv. The session about to get of her underway in hong kong. Were starting things off green across the board with the exception of malaysia. Wrapping up g20, overall a success. Finance ministers talking about a way to boost global growth, refraining from competitive devaluations of currency with which. Which. New language. Up. Nikkei 225 Industrial Production saw a rising on the month, the first output rise out of japan in three months. We did see retail sales falling 1. 1 , economist expecting a rise of 1 10 of 1 . Exporters falling today, adding to worries about the economy. Stocks have slumped, the yen has , so we could see a seesawing affect when it comes to modest growth. Lets look at the yen. We did see some strength leading , 113. 62. One stock, and operator of drug chain stores, the merger of two companies. They raised their forecast to 19 . Yosan will
Lows of 8 10 of 1 down in hong kong. Picture insome mixed the economic front with the Industrial Production rate rebounding. Retail sales continue to fall, local reports youre talking about the strategies and plans coming out of the csrc chairman. Is expected to be promoting stability over reform. Shelving theks of ipo process. We could be seeing some changes there, coming out of the new chairman. A stronger yen. Little bit ofa paring off on those gains from the equity side. The emerging market debate as we continue to talk about this, we continue to see a case that the headwinds are better than expected, better than usual. Cheap, it has only been cheaper than these recent levels of six times. We are seeing a 28 discount. It is budget day in india. I want to talk about the india rupee. The dollar is strong trend against the rupee. We are approaching a low on the india rupee. 68 was the low in august. We could see continuing weakness. Rish . Rishaad the finance ministers it didg up the
The leaders of asias two biggest economies are in washington, though unlikely to meet oneonone. Obvious says his door is always open. Follow me rishaadtv and include trendingbusiness. China markets underway in 30 minutes. Quarter. Of the haidi we are ending on a strong note. The best monthly gain since 2009. Still on that extended tear from said, buildingen on 2016 highs. That sentiment seeping through to the early Asian Session. A few strong sessions of gains for south korean stocks. Singapore lower on account of the drop in oil prices, u. S. Inventory continues to build. That, some of these energy names, particularly those listed in sydney, rushing off that the klein. Origin energy, up by 5. 5 . That despite the plunge and oil. Japanese stocks seeing gains, up by. 5 for the nikkei 225, despite relative strength of the yen. The dollar continues to weekend. Take a look at the movers corporate news, banks in the spotlight as earnings come through. This is what is happening in the ta pum