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
Atm limits. Extending the qe program 32017. They await the opec talks. Concerns independent producers may not reduce output. A landmark day for south korea as they are set to impeach President Park geunhye. More in a story, just ahead. Lets take a quick look on how the markets are looking. Haidi is standing by. Haidi we are getting a picture here, we have the Southeast Asian markets, taiwan getting on board today. Andness through malaysia singapore just keeping its head above water. Investors the sense are trying to take the time to digest what the ecb trajectory is. We look like we are on the cusp of a taper. Also, critically removing some of these key technicalities so the ecb has greater control over this aspect of the program. We are seeing nice gains from tokyo. Extending that rally 2. 7 . Yen, 114 at the moment. That is lending support to retailers. Weakness coming through from new zealand, down by. 4 . We do have a shift in policy. Driving the kiwi dollar to a high. Ofy have sai
Anna im anna edwards. Its 6 00 here in london. 7 00 if youre watching in paris or berlin right now. Lets dig into the basf numbers, the German Chemicals business. Adjusted earnings before interest an tax 1. 18 billion. That against an estimate of 1. 16 billion, in line or a touch ahead of that estimate. Q4 sales coming in above the estimate of 14. 1 billion. Theyre proposing a dividend of three euros per share. They say 2017 will be slightly higher. The estimate has been 7. 24 billion for that number. Well get more details as we go through the earnings release. Well be speaking to management of basf. Lots to talk about with chemicals an the agriculture business. Lets also get to some other things coming up in the show. The French Defense business is reporting numbers, theyre reporting number this is morning. They see adjusted renews rising 3 in 2017, thats the guidance part of things. The 2017 adjusted 1. 804 billion and theyre paying a dividend of 1. 52 a share, the divedebbed up by 1
Hours. Haidi tencent buys a 5 stake. Rishaad coming clean, President Trump rolls back Climate Change, saying he is ending the war on coal. Looking forward to 1 30 p. M. Brussels time when the clock will start taking on britain leaving the European Union when the British Ambassador to the European Union hands that letter signed by theresa may to donald tusk. That is the start of a twoyear period of negotiation later today. Haidi thats right. Two years of no doubt contentious negotiations. What will it mean for sterling . 1. 36 for theey see pound, but a very big if counting down to that brexit trigger day. We are 30 minutes away from the open in china and hong kong. We have had this risk on rally on the table with a blowout Consumer Confidence number out of the u. S. Will that trickled through when it comes to the asian session. Lets get it over to sophie to see how we are faring. Sophie we do have stocks outside japan advancing, building on gains for a second day, stocks in sydney lead
Beijing hosting the worlds biggest auto show, overshadowed by the recent mitsubishi scandal. What you think. Follow me on twitter rishaadtv, and use trendingbusiness. China, Hong Kong Markets underway in 30 minutes. Singapore, taiwan, malaysia. No trading in new zealand and australia. A good start after regional stocks fell from a fivemonth high. Asiapacifice msci third weekly gain of 1 . A number of Technology Earnings weighing on sentiment, particularly stateside, alphabet, microsoft, and s ony. Singapore opening down. Ratided of brokerages for potential breaches of security. Taiwan opening flat at the moment. The kospi is flat, a little downside. Markets, samsung reporting later this week, i huge component of the kospi. Extending losses, down by half of 1 . The yen creeping up after falling the most in 17onths on friday. We have that report that the bank of japan potentially giving a helping hand to banks. Offering negative rates, meaning japanese lenders will be paid to borrow from