Several areas we consider planes to reopen. Optimistic. Emains treasury secretary Steven Mnuchin says he expects the session to end this year with another Stimulus Program in the pipeline. Paul we are about an hour away from the open here in australia and tokyo. Lets get a check on what we can expect for the new trading day with sophie in hong kong. Sophie asian stocks looking at a muted start this wednesday. This after we sell stock gains fade into the close. Check out what is going on with qe markets. The qe dollar is trading ahead of the rbnz decision. In the bond space, we are seeing five basis points this morning. The central bank of new zealand seen holding pat. That is one of the items on the agenda we are watching with market very much in wait and see mode. Plenty of firepower being amassed in deal space the latest news of kp are having pulled together 10 million. Lets jump into the turn will. The terminal. We could be seeing positive mental for asian stocks. As you can see on
On in hong kong with china over the weekend saying the security law could override hong kongs legal system. We she we see shares on the hang seng. 23,469 for the hang seng. The csi 300 pointing positive. Showing the resilience across these benchmarks. The kospi as well, we did get those export numbers. A slump easing a bit. Not very encouraging when it comes to exports of chips. Only a gain of 2. 6 . We saw a 13 advance in may. Perhaps this recovery is in an early nascent sense. The p cop, lowered by 910s of 12 . A decision coming through bank of centro and the rbnz later this week. Later on when it comes to assets, the disappointment has been with the china lpr, which they did not do anything. Given the credit numbers we have gotten, perhaps it was reason to pause. The selloff in bonds, are we going to continue to see that change . Ozzie yen, you are seeing a perk up aussie again, you are seeing a perk up. The dollar is rising for a fifth day. We have seen some flareups in australia.
The futures contract from the big gains as well. Optimism at the start of this session. A data out of the u. S. We have p. M. I. Numbers. And easing from the impact from the virus. E await that data. Good to from bill have you with us. In the end at the end of the day, it remains strong and solid. This market seems to suggest you cant fight the fed or federal banks and no bad news will sentiment. Y damp the im not sure that i would be that positive about the sentiment. The correction that we saw in march was sort of a classic correction, if you like, with all the things happening in the normal order. But the rally has been defensive in nature. A lot of defensive assets like gold have done very well. And certainly defensive sectors within equity markets, for well. E shes have done we have this massive, massive, monetary and fiscal action by the fed and other Central Banks and governments but im not sure if that turned yet sent metropolitan positive. People are still very, very carbous.
The comments from the reserve bank of new england, a move for the new zealand kiwi dollar up by. 5 . That is where we are at the moment. Lets look at what is going on in the first word news as we get to new york and join karina. Has dodgedowell Senate Efforts to make and take sides on coronavirus 80, maintaining a neutral stance in the debate over whether the u. S. Should add to its stimulus. Powell and Steve Mnuchin testified remotely to the committee. How all reaffirmed his stance more fiscal help may be needed but stopped short of a full endorsement. China has taken another swipe at australia over calls for an investigation into the origins of the coronavirus pandemic. Having put duties on burly and some beef imports, beijing is threatening to target wine and. Ary, and dairy other products could face punitive measures and their are rumors state media could call for a consumer boycott. We advise australia to read the original text carefully and not take conclusions for granted. Weve
People struggling to maintain that. The nikkeir before gets back up and running. Thailand, we got a Rate Decision. We have wiggle room, if you will for another cut. Has been thai bhat appreciating. Deposit index falling back. That is where markets are currently. It bit of caution out there. A bit of aing like summer of hope, but not seeing that much sunshine, lets put it that way. Seeing prettyre strong gains in recent weeks on the back of that. Taking a look at some of the other commodities. Oil down 0. 2 . Demand returning. Expectations intact. Dampeningomment sentiment at the same time. Highest and more than seven Years Holding onto gains. A strongerthanexpected rebound in chinese demand. Gold etf holdings rising for a 17th straight day. Taking a look at where the aussie is right now. Some sentiment in the market suggesting we should go along aussie a recovery that. Kiwi, positive. Suggesting negative rates still an option, but there are many hurdles to jump. Taking a look at how fu