Obviously, this sort of a big coup for hong kong after missing out on that initial ipo five years ago, the biggest one ever. This is their opportunity to win back their National Treasure of a company. Emily how much if anything does this have to do with trade tensions between the u. S. And china . Elizabeth the timing is really interesting. This is being called a trade war ipo. There definitely seems to be some element of that that people think this is an unattractive time to look for domestic investors, those kind of investors that use this Company Every day, unlike american investors, who could start turning away from chinese investments. The other thing here in the timing is that the Hong Kong Stock Exchange has changed its listing rules around these companies that have multiple share classes, the type we see from Tech Companies. They started doing that after they lost out on alibaba the first time around, had this long period of consultation, and now it is allowed. It has opened up
There is the nonevent on your screen visually if that is even possible. U. S. Futures slightly higher about four points as we approach the midmorning parts of the session. Still tracking developments across Country Garden, or the lack of it, and the payments that we believe have yet to arrive on this coupon payment. Down about four. Guys, were looking after the three year bond option it is a 10 year yield coming up next. I believe it is thursday or Early Morning our time, but that is relative because we are all over the place. Yvonne overnight it was well received but when you take a look at where yields went, actually went lower despite all these auctions taking place. It is an indication of how there is trepidation in the markets. Given the china slowdown. The trade numbers yesterday was what triggered a lot of the selloff in stocks. Then you have this inflation picture. Yes it is better than expected in terms of cpi prices but overall both and contraction for the First Time Since la
hong kong stocks fall more than 2.5% during the asian equities lower as a broad risk off move. cash trade is less than an hour away. stocks and futures decline as investors have concerns over the spread of a virus from china. and a digital tax truce. emmanuel macron and donald trump reach a truce not to impose punitive tariffs this year. president trump addresses the world economic forum in davos today. we are just under an hour away from the start of cash equity trading. at stake a look first off at futures. we have a picture you might not expect if you see the digital truce headline. that would seem to suggest it should be risk on. fewer tariffs, better for the economy. viruseless, this chinese and maybe the hong kong downgrade as well kind of spooking the market. as a result, you see futures down more than 0.5% across european indexes. take a look at the u.s. equity index and keep in mind the u.s. markets were closed yesterday for the martin luther king holiday. downasda
the outlook for japan as shinzo abe prepared to step down. we discussed the future for global relations with the american chamber of commerce in japan. shery: breaking news out of south korea, the final gdp numbers for the second quarter. south korea contracting quarter on quarter 3.2%. this has been revised upwards from an estimate of 3.3% secondtion, still a quarter of contraction, quarter on quarter basis. we are in a technical recession for south korea. when it comes to the year and your numbers, a contraction of 2.7 percent, also revised upward from a previous estimate of 2.9%. we are seeing now the beginnings of recovery in private consumption. we ve had government stimulus measures not to mention strong public health response to the coronavirus pandemic, but the risks are there. we continue to see the outbreak in south korea and globally. that has affected exports and demand for south korea and a plunge in exports, the biggest drag on growth. we are getting trade numbe
China out prices in in half an hour. 4898, it tells you what has been going on since 2006. The white line indicates firsttier city performance. We have had this massive runup in june 2015. Ever since, we have seen this fall back. It has been muted for secondtier and third tear cities. We have early data from china real estate showing a sharp rebound in tier one cities and tier three cities. Is the result of strict controls during the october Party Congress unwinding, so the possibility of a turnaround. All will be revealed after xi jinping said houses are for living in, not for speculation. The lastding day of week in this part of the world, singapore, taiwan, and malaysia kicking things off. Sophie the countdown to christmas, risk on for markets with the u. S. Tax bill passage looking likely. We have the Malaysian Ringgit and the won leading declines against the dollar, and the yen looking to test 113. We have u. S. Key Economic Data deck this week. Shares mostly climbing. The kospi l