Some important corporate stories today. Bank of america shares building on the early gains after profits beat estimates, though it felt like 21 area analysts on the companys expense targets over the next few years, that maybe soon slowing down the stock today. We are watching armed holdings after it to be bought i saw bank of japan. Agree to be bought by softbank of japan. Two day. E today the this is the biggest ever japanese acquisition in europe. They definitely have a huge preference presence in the mobile computing industry, designing chips the go into many mobile product. Chrysler, shaking up potentially bad news . , according topany our reporting, may be under investigation of the department of justice, having to do with securities fraud. We dont know the details, but there have been civil lawsuits involving dealers potentially saying that the old more cars than they actually have. Shares initially dropped on these headlines. They have since climbed back to some extent. They are
Go go nintendo. With price the sex could do we have a new and with price hikes. Do we have a new and new and . This is how we think the stock story is going to open this morning. The fair value cap collation,. He euro stoxx down. 5 london looks like it is going to outperform again. The dax also down by less than a half of a percent. Caroline a risk aversion could be the other assets. We have seen yields falling from the likes of german debt, down three basis points. Meanwhile money flowing into the haven that is the japanese yen. Dollar down a quarter of a percent compared to yen. The qe dollars appeared to be getting more speculation. Banks rate central cuts coming from both of those countries. He moves in assets and the bond markets. Lets get togo bloomberg first word news with juliette saly. Juliette caroline, thank you. Turkeys bank will slow the pace of Interest Rate cuts and it meets today. Today. When it meets as selloff in the lira and sovereign debt. The expectation is for a q
A very warm welcome to countdown. I am anna edwards. Manus i am manus cranny. There is a relief rally in the turkish lira. A tremendous level of volatility we have seen since the close of business on friday, a military coup attempt in turkey. If you want to understand volatility, this is it. The oneday move on friday, comingmazing pictures from turkey you saw the lira really take a hit. The market saw the biggest drop, turkish air dropping the most in eight years. We recouped some of those losses. Of question is the flight capital, will it continue, or erdogans grip on power convince investors . Goldman sachs say they have lowered their lira forecast. Anna its a country with a big current account deficit. That is why the flow of assets really matters for the company. The country. The government is trying to reassure investors internationally. We will see how stocks do. Wey analysts pointed out havent always seen a sustained hit to the turkish equity market postcoup. Market the ringgit,
If overnight was any guide, it could provide a little bit of a stop here. Guess just to show you how uneventful things are, if you look at the 10year yield, 1. 5 . Little change. Not a lot. Moving sideways across. Equity space, as rishaad pointed out, is mixed. Put it together, it is as flat as you can get. Now. E at zero right regional benchmark volumes light, especially in chinese markets. Hong kong, chinese mainland, down 7 10 of 1 . In the epic space, movement. Currencies. At kiwi dollar, lower. 70 70 1 chance overnight swap. Moves to cut rate in august so that is being priced in. Have a look at the aussie dollar, 1. 2 drop. Basically, flat. Other where we have a little bit of movement strengthening here. Following the fixing from the pboc. Not the Biggest Surprise but i mentioned a strong dollar earlier, a strong dollar story overnight. Level judging7 by this move that surprised some people. Isething you want to watch how do the Central Banks and policymakers control Property Mark
Over. Welcome to daybreak asia, coming to you live from our asia headquarters in hong kong. Mann. Vonne positive earnings pushing the stocks to a fresh record. Action in new york. Much run byry optimism over the current earnings season. Check out the closing numbers. The s p 500 on a record, the sixth time in three days. Records. Posting and providing a big post big biz, markets resilient and after bad earnings, good earnings making the market rally. It is better than expected. Microsoft up 5 . Strong earnings for them. And Morgan Stanley coming with better than expected bond trading revenues. That lifted the banks. And technology, price cutting will be a priority from marvell. And chipmakers at their best performance in teen years. 16 years. David yvonne and even after the bell su they got it at the high end of the midpoint. They did also come in with Slower Growth in the chip division. There is concern that intel will not be able to wait make up for the weaknesses on the revenue side