Territory. The week has had news of ashares cell a share sell. China puts money on chips to counter rising pressure from washington. It has the same level of backing as the Atomic Program enjoyed years ago. Sophie lets get a check on the set up in asia. Some much awaited pullback on wall street. Asian stocks look set to fall. 1930still Holding Around levels and the yen above 106. But when it comes to stocks in china and hong kong, a drop is productive at least 1 . Softbank is said to be considering a bid for tiktok. In the Semi Conductor space, news that china is planning to support the domestic industry, which launched a billiondollar route in u. S. Chip stocks. Also in south korea, watching for any details of a potential in thecash handout budget that could be announced this weekend. A snapshot of the u. S. Close, the s p fell the most since march, and it was the biggest sincefor the s p june, the biggest drop for the nasdaq since march, with apples market cap falling below 2 trillio
The hearing was set before the bank agreed to pay 4 billion. The race for tiktoks assets aress the globe sees we told its been talking to geo platforms. We do have some breaking news crossing the bloomberg. Current account numbers coming through. We are getting the july current account surplus coming in at 7. 5 billion u. S. Dollars. The trade surplus sitting at 6. 9 7 billion in july and we are watching out for some other developments coming out south korea today. Highlevel officials of the Ruling Democratic Party and the government will be meeting to discuss a second cash handout and potentially a fourth extra budget according to local mode media reports and we are expecting perhaps an announcement when it comes to the social distancing measures as well as the coronavirus update to come. Lets take a look at the fed when it comes to the markets. It was a fallback overnight when it comes to u. S. Stocks and driven by a correction in the highflying tech sector. We saw u. S. Stocks falli
Investors concerned about rising Coronavirus Infections and what that means for the recovery. Global deaths are approaching one million with record cases in france and the u. K. The Trump Administration given an ultimatum over tiktok to delay a ban or respond in court. Ban isnt trumps due to take effect on sunday. ,aidi it was a meandering confused session in the u. S. Investors seemed to be trying to work out where the lead was. Investors weighing the scanned prospects of another stimulus package against a resurgence, the second wave we are seeing across europe and the u. K. Modest gains but the s p has wiped out all of its gains for 2020. Futures trading up by. 3 at this point. When it comes to the asian trading day ahead, the nikkei 225 regaining a little bit of positivity. Modest gains of. 1 , trading in the futures session in chicago. In sydney, we are watching as to whether this surge we have seen in growth shares will continue. The msci australia index jumping to a record high c
Panic or price spikes. Than 52na listing more times oversubscribed. We will assess investors appetite with the ceo, Joel Silverstein. Haidi that is a market highlight but in the meantime, lets take a look at how the set up in asia is faring given we did have the resounding tech rebound. Sophie, what are you watching . At. 8 . S p eminis stock futures pointing higher come of this ahead of the session that brings philippine trade data and a decision from malaysia. Beth are split. The malaysian economy is showing signs of a rebound. Korma she orders are due. We may see a pickup in cap exeter and by the auto sector in japan. From south korea, we are waiting on an announcement of a fourth extra budget that is expected later this afternoon ahead of that we have kospi futures looking a little bit lower. We have the kospi set to be the best performer in asia this month, up 2. 1 so far in september. A quick check on the offshore yuan just Holding Steady after rebounding on that dollar softening
One progress review should happen soon. More signs offers china strengthening rebound. Sales jumped by one third last quarter to 22 billion. The company insists it is no threat to u. S. National security. Lets take a look at how we are shaping up on this final friday session of the day. Lets get over to sophie he was taking a closer look. What are we watching . Vibes coming through with futures largely higher. We could see some weakness in korea following the drop that we saw for the kospi. On the docket today were looking at cpi from japan. Nikkei futures move slightly higher this morning, while the yen is trading below the 106 handle. Pulling up the chart on the terminal, we are watching to see if tech will bounce back in the region after thursdays selloff which saw the kospi with a big loss and the worst day for the regional tech index since march. Samsung took a hit on the south outlook for to prices. Prices. Outlook on chip potential hits on huawei and delayed 5g. That could hurt