Ballooning pile of debt. Go straight in a breaking news and data out of singapore releasing their gdp numbers. Lets go to haslinda allman. Numbers. Sean the strongest quarter in about three years. Gdp coming in a 5. 2 . At a 5 estimate. 2. 9 the quarter before. Quarter and quarter we have 8. 8 before manufacturing going game busters up 18 . The government has revised gdp andthe year between three three point 5 between one to 1. 5 to three and a half percent. This is like the optimism express. Remember, he said gross for the year may exceed 3 . That is coming through. Some economists have already raise their own estimates for the year. Looking at about 3. 2 , its previous estimate was 2. 8 . As you know, singapore, highly intertwined with a global economy. It is benefiting from the recovery in global trade. Byufacturing is lifted demands. Trade rose 12 year on year, building on the 9 increase for the last quarter. Other industries, like services, are also showing improvement. Just singa
What does that mean . Hello and welcome to bloomberg daybreak asia. Im haidi lun. Betty i am betty liu at the mobile headquarters in new york. Weve got one i clearly watching what is happening in the korean peninsula. In the meantime, we are watching what is happening here in tax reform and u. S. Markets. It looks like tax or formal possibly passed by the end of the year and markets will move higher,. I want to pull up a chart that shows perhaps a little bit of a warning sign. It just shows you the valuation of snp stock versus the euro stoxx 600uro companies. You can see how the valuation so muchinues to widen, so that it has some investors saying even if stocks rally, maybe there is better value in other parts of the world, particularly europe. Maybe it is europes time to shine next year. Haidi absolutely. It is interesting, this idea of momentum and sentiment driven rally we have seen. Haveore record highs we seen overnight as we get closer to closing out the year. Usuallyet period
I am paul allen in sydney. We have some breaking news right now on south korea. We are awaiting the bok decision. Industrial output for october, down 1. 1 in industrial output month on month. Year for october, down 5. 9 . Expectations were for a continued rebound in industrial output. Not great on year, so news at all for the south korean economy, industrial output had been on the rise of wing to the export of electronics and other items. Have a bit of the damper may be countering some of the opinions that the bank will raise Interest Rates this morning. We will introduce more uncertainty in that decision. Markets seem to have priced it in. We will wait and see what happens when we do get the results of the bank of korea Board Meeting later on. Running ints up and the asiapacific. Lets take a look at new zealand. Off. 3 . The kiwi dollar little changed against the greenback. Trading just getting underway and australia. Not too many stocks online at the moment. We are seeing a little bi
Ride still means it is far too early to say hello. Welcome to bloomberg daybreak asia. I have some breaking news. South korea data coming in. Gdp numbers first. The final reading of the Third Quarter readings. They have been quite bullish in the preliminary numbers driven by exports growth out of south korea. 1. 5 are the final numbers, slightly better than the preliminary figures. Also, above what the preliminary numbers werent that were reported earlier. Inflation also coming out pretty tepid. A decline of 0. 7 . A retraction. No change was expected month on month. And year on year inflation falling short of forecasts, 1. 3 . It was estimated to be 1. 8 . And core cpi year on year toling short, 1. 2 compared the estimation of 1. 7 . Happening asion is the bank of korea raises things by 25 basins basis points. Have raised said we rates but it is still very accommodative. Paul it will be interesting to see what the bank of korea goes to next especially considering the weaker than expec
Progressiverudeaus mission stalled in beijing, with Sticking Points on all sides. Betty david, good to be with you from hong kong there. Favor,stocks today in those that will benefit from tax reform. But dont pull out the party have yet. I want to pull out this chart, g btv 339. It is according to vanguard, the index fund company that manages almost 5 trillion has drivenot of what the markets, the low volatility, the record runs in stocks, the record stimulus, the low wages, no inflation, that is about to end in 2018. Tax reform or no tax reform. They see more volatility to come, which means they see lower returns. Do not expect of those nice, juicy returns of the last few years any longer. David absolutely. It is almost impossible to , the conducive assumptions and realities we had in 2017 continue well into 2018. It is almost like mothers womb. It is a perfect environment, but do you get it in this harsh world, it which is what 2018 seems to be like. Analogy, we have been drunk on ea