Rishaad just about 30 minutes to go until we get going again for the hong kong session. Let us take a look at what has been happening. Has been a winning last day of trading for 2017. The highlights. Looking at 14 months, straight months of a global stock that is gaining. This is unprecedented. Let us go back to the dark days of 2008 when we had steep falls. In one month, 10 of the stocks declined. Since then, recovery taking place. 2009. D bag since the last 14 months has framed what has been going on. The hang seng up about 34 so far this year. Notwithstanding the gains we may be seeing in a little while. And that is when the session kicks off in about 29 minutes. Singapore and taiwan coming online as well. Let us go over to sophie and have another look at the markets. Grant sporre sophie let us take a look. The ringgit is heading for its best year since 2010. In 2017 following the rebound in oil prices. Is expected to test at a number three level. Singaporean stocks. The opening was
1990. Kim jongun tells the world north Koreas Nuclear weapons are a reality and a button is on his desk. Good morning to haidi and good morning to our viewers across the world. We ended 2017 year to date for equities on a high note but we are seeing some volatility possibly happening coming out of north asia with kim jongun. Taking a look at what happened in the last day of trading here, down by half a percent. If you were totally in from 1 through the end of the year, you were 1 through the ene year, you were up by 20 , as much as 30 if you are in the nasdaq. Haidi absolutely. We were talking to garfield earlier, 7 when it comes to aussie stocks, barely a blip in comparison to the heavy gains we have seen for u. S. Equities and across asian equities. In particular when it comes to japan. One of the markets not trading today is japan as we have a number of markets still offer the new years holiday. New zealand, tokyo, thailand and the philippines on a break today. We are setting up for
Turnaround the european operation. Morning. Ery good this is daybreak europe. Lets talk about the asian equities session. Another boy in story for stocks. Japanese returning to the market. Msci asia pacific up. 3 . T is not all positive samsung is one of the negatives over on the seoul market. Their Earnings Report suffering a little bit because of the dollar weakness. That is weighing on the equitys story a little bit in south korea. Our focus on south korea and north korea is around geopolitics. More details of that in the samsung story. Lets talk about what is going on in fx markets. Later our attention will return to fed speakers. Today lets focus in on the yen and euro because interesting moves in both of them. The yen, and overnight story. We see the yen gaining this morning as the boj trimmed some of its bond purchasing. A small tweet to the long ticket buying. Governor kuroda told us there is nothing to see in terms of expecting to see any big changes in policy. Plenty discuss
Concerns about harsh factory conditions. Yvonne, we know equity markets here in the u. S. Were lower but what has been rising and rising quickly has been s p estimates by analysts. See so many upgrades because of how high the markets have passed the markets have run. I have a chart view that shows this g btv 8902 here is the yellow line here for s p earnings estimates this year. But how they are accelerating and rising given that the bull run, the record bull run we have seen so far, much faster than the s p estimates for 2019 and 2020. It looks behind the curve, perhaps wall street has been to how much tax reform seems to be propelling these markets higher. It is quite rare to actually see these earnings upgrades in the months of january so i guess they are starting to see this windfall when it comes to tax reform. But it was a wall street overnight. First you had down a 26000 and then you had down and you get back to flat and a lot of russians on whether this is a onetime affair or i
Betty i am betty liu in new york, where it is just past 7 00 p. M. On this labor day holiday. We will be looking at chinas role in the crisis. How sanctions may target its oil lifeline to kim jonguns regime. Writing into bitcoin. The cryptocurrency tumbled at the pboc declares coin offerings illegal. Anchor let us get straight to some breaking Economic News coming across the bloomberg involving south korea for the month of july. The balance of payments for south korea, taking up ticking up a bit to 7. 26 billion. The good balance coming in a bit. Igher at 1. 07 billion yvonne, these numbers traditionally may not be that significant, but certainly, a lot more attention is being paid to south korea on the fiscal side and also on the trade side as it looks as if south korea is going to be ramping up defense spending as well as looking towards further trade tensions with the United States, and in particular, given these rising tensions. The good balance coming in at 1. 07 billion, yvonne.