Miner and one of its top Power Generators talking about a 267r the could be worth billion. Rishaad noble facing another difficult day after its new york listed shares tumbled, it singapore listed stock at a 17 year low. Indeed, noble sure starting trading again, but lets start off with the big stories of the day. Sterling, the at election in the u. K. Taking place on thursday. What we have been seeing is that these terrorist attacks have not had that much impact when it comes to the polls, and indeed by influence, what is going on with sterling. Sterling has been beholding to the polls in a different sense. Show how as the labour party has been doing better in recent weeks, recent days even, we have seen of oars weakness for sterling. True when we had of course the pound weekend for the tories, so an inverse relationship if you will. It seems these terrorist attacks do not have a huge political implication running into that thursday poll. Side i suppose the other you could look at in t
Business confidence is plunging. Haidi more disappointing news from the factory floor and japan , machine orders slumping, Producer Prices staying flat. Rishaad the long and short of it, hong kong stocks being targeted by skeptical researchers. Of course all this Political Drama, the British Election, james comey and his testimony to congress. Having a look at gold. Start toshed in and buy gold at times like this as a haven play. This is 502, a look at the last three weeks. Have had three weeks of gold prices falling. Never mind if you look at gold in sterling terms, but gold is priced in dollars. We could be heading for a negative fourth week third week for gold as well. Haidi thats right. You mentioned that excellent point about gold being a currency play. You look at this chart. It is showing that correlation of the prices metal priced in sterling gaining 2. 2 after that calamitous result in the u. K. Of election. That is very much isolated when it comes to bullion nominated in ster
Called recall. Shares remained suspended in tokyo. A change at nestle, dan loeb once more urgency as its fund builds up its stake in the global food giant. Bailout, mored imf loans as mongolia begins to vote for a new president. Thing whichther dominated the trading week, oil falling into a bear market, falling from the peak in february, down 20 . I want to bring this chart up, 355 i was going to bring it up, but we will not. It shows the oil price and its relationship with gold, should be a bit cautious out there. We will discuss that in the course of the program. Lets get over to shery ahn. We should be seeing markets in malaysia and singapore open, but they are on holidays with india, indonesia, and philippines. This session looks positive, the regional benchmark gaining with australia leading gains. Do keep an eye on commodities. We are hearing competition over rios coal assets intensifies, it could be upping its bid to match glencore. When it comes to commodities, keep an eye on c
Manufacturers up for a Third Straight quarter as exports drive expansion. Haidi chinas latest hong kong connect starts today, giving overseas investors access to the 10 trillion debt market. Beijing taking aim at washington after the pentagon sent theyve or shipment to disputed waters. Half an hour away from bond connect. The whole idea is to connect the world through hong kong, sending the northbound traffic to this 10 trillion bond market, corporate and sovereign as well, in china itself. What do we have . The idea is we have this big premium over china debt over u. S. 10 year debt, and hoping this will create demand, pushing yields down as we see that you cap balloon gap balloon. Of 120 five basis points difference between what you get in terms of yield in the u. S. Compared with china. Thats right. We are looking for the onshore rate as well as the dim sum bond and forstart never ring the chinese bond premium to start normalizing as well, closely correlated to money market rates. W
Rishaad kicking things off with , getting those numbers. How this hass us all turned around in recent months. , the factory gate price number we did have, and well, expecting the same level at the moment. The government crackdown on risky lending. Restocking inventories, and that would mean they do that despite the recent upswing as well. 5. 5 , cpi coming out. Holding steady, that stabilization story that beijing wants to push for this year. We will look at import prices and the impact of technology, whether that is keeping inflation and wage growth far away. Asia, singapore, malaysia, and taiwan coming online. Asian shares tracking wall street. Japanese stocks and shares in sydney leading gains. Tokyo rising the most in three weeks despite the disappointing core machine orders data this morning. The yen trading near a twomonth low, although now deepening losses, 114. 18 right now. Kospi higher, consumer stocks dropping over 1 . On korean won building gains, up. 3 against the dollar.