Most negatively correlated to crude oil since 2013. It is 8 00 a. M. Across the emirates. This is Bloomberg Markets middle east. I and Tracy Alloway in dubai. Lets see how markets are trading. 1. 68 afterg up that stronger than expected chinese manufacturing pmi. Composite up 1 . Sex up. Japans markets are closed for holidays. Speaking of holidays, it is a new year, but the same story for the bloomberg dollar index. It is slipping. 1 this morning. You have to feel for those dollar long positions. Crude, wti and Brent Holding onto gains. Wti above 60 per barrel. In saudi arabia, one of the few ,arkets open during the holiday wasnt feeling those positive. 2 . Ments, down almost lets check in on headlines. Debra more signs of strength. Aheadixin survey came in at 51. 5. Tations that 5 the reading will be welcome in beijing as they repair for critical battles with the debt, property, and pollution. Kim jongun has warmed the new the u. S. That its nukes are a reality. He said the north has
Getting a sense of where the chinese economy is heading, december pmi from the private side ties shin. This is the third couple of days we have had the numbers that of the official stat bureau. 9574 on the bloomberg terminal. You can see where we have come from the dark days of 2008 when everything fell off a cliff. 51. 6. I here, that number came in and the other day. 50. 8 whiching at reflects what is going on with the small and mediumsized enterprises. Showing we have growth and it is steady as you go for the time being. Untilutes ago to go trading in hong kong and 45 minutes until the thai shin numbers came out. A late opening today because of a big ceremony going on in the korean stock exchange. Fort of news to digest those market participants. Good morning. As seoul gets back online, quite a bit for markets to consider. Kim jonguns new years eve address. We have the latest data points for south koreas showing exports rose to a 60 year high. We are seeing it gaining about one thir
That conclusively reverses two months of contraction for retail sales as well. Hadaps not a surprise if we to miss today because the last two months were a miss as well. Up 1 , the aussie dollar reacting immediately out the back of that rising about. 1 . Retail sectorhe real tal here struggling, the malls off, bigticket sales off, the whole sector underperforming the broader asx. It is all tied up with the issue and austria about weak employment or underemployment and weak wages growth, and there could be more pain for retailers on the horizon with amazon due to make its australian debut. April at least, a big bump, real encouragement. The retail sales up 1 , much better than expected. Rishaad nice one, paul. We are looking at hong kong come the shanghai open. All allen there in sydney. Lets get it straight to Sophie Kamaruddin and a positive trading day. Sophie so far. The asx 200 come up. 1 . Consumer discretionary stocks on the rise, Consumer Staples still falling over 1 . As paul m
Means a fed hike moving to the back burner. We have the numbers from the latest Hong Kong Survey and discuss the implications of tokyos election results. A terrible outcome for the Prime Minister. Tensions in north asia as north korea continues to worry leaders around the world. We will get an update from beijing on the latest. This is Bloomberg Markets asia. I am betty liu here in new york. It is just after 7 00 a. M. In hong kong. Busy monday in asia with president xi jinping delivering that 20th Anniversary Gift hong kong, right . The bond connects set to launch this morning. We are expecting a ceremony at 9 00 in hong kong. Also, japan as well, a major setback for Prime Minister shinzo of days party shinzo abes party. We are looking at manufacturing a sectors and how they fared. The Manufacturing Sector has probably done pretty well in japan. Exceptingght, msci china ashares, and now the bond things, so it looks like are on fire there in china. We will see how things go. Setting up
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