And you can get more on all of these stories on our website. Now on bbc news live to singapore for Asia Business report. The trade war escalates. The us heads china with a new wave of ta riffs heads china with a new wave of tariffs in china his back. Hong kong braces for a general strike. We take a look at the impact on the economy. Hello, good morning and welcome to Asia Business report. We begin with the trade because, on sunday, the us imposed fresh tariffs on around 112 billion dollars on things like shoes, nappies and food. It is the first phase of donald trump is make a displayed to place a 15 tariff on 300 billion worth of chinese imports by the end of the year. Beijing has retaliated, introducing crude oil target. It is causing uncertainty, not least the companies manufacturing the goods that have been hit by these tariffs. Claims in china, for instance. I got up with the head of textile counsel. What is affecting the chinese members are products in the middle. Shirts, blazes,
Lets dig deeper into what is going on in hong kong. Hong kong is braced for more demonstrations and a general strike called for monday and tuesday. The protests are the longest running political demonstration in the territory since the handover in 1997. Over the weekend, thousands of protesters blocked roads to the territorys main airport. Hong kong has a world class Financial Centre and stock market, and the tiny island has a gdp bigger than many industrialised countries. But its main bourse the hang seng has performed badly over the past month, with investors from the chinese mainland buying some 5. 1 billion of stocks. The protests are affecting the economy, particularly retailers. On friday, retail sales figures forjuly declined 11. 4 from a year earlier to just over 34 billion. Then theres tourism. Hong kong is one of the worlds most visited cities and the demos have been blamed forjuly monthly visitors numbers falling for the first time this year to 4. 8 from a year earlier to 5.
Decades, five of those have occurred in the last three years. That storm is not moving, centred over grand bahama, some catastrophic damage likely here and the winds will continue for a long time yet, reaching 200 mph. Here, cloudy skies and outbreaks of rain working in. The skies look rather different, grey and drab conditions there, over the cumbrian fells. Through the rest of this afternoon, overall there wont be a great deal of change. Some cloud bumbling bubbling up gcioss some cloud bumbling bubbling up across england and wales. The thickest cloud and rain continues for Northern Ireland, the far north of england and scotland where temperatures are a little on the low side, up to 17 degrees. Tonight the first batch of rain will ease away for a first batch of rain will ease away fora time, first batch of rain will ease away for a time, then later in the night more rain working in with south westerly winds. The south and east of the country stays largely dry with rain clearing, up t
What are we doing equity wise . Yvonne it is about that jobs report. Making a little money for the fed. It will be interesting to see what jay powell says. Is he going to lay a strong case for some kind of easing cycle after that solid jobs report . There are indicators that it was not that strong here. Slower when it comes to wages. We will see that rate cut at the end of the month. You are seeing equities selling off here today. After this continued pressure from japan onchip materials. The chip sector is under pressure once again. Hong kong under pressure. Down more than 130 points. We are on the cusp of hitting another record here. The dollar is stronger after that u. S. Jobs report. We are seeing asia a bit under pressure. To what else we are seeing here. Oil is in the front after pulling back a little bit on friday and on are selling off as the market tries to correct that u. S. Jobs report. Does this lead to less expectation . They will cut 50 basis points. Looking out for the b
Can seem to stop it. And diving into street food in taipei will get a taste of a new v. W. Series on you tube exploring the call in every highlight of the taiwanese cast. Thanks for joining us joining us im so me so much god its good to have you with us on news asia now a tense calm has descended on hong kong after a turbulent night of unrest in the city a cleanup operation is underway to remove debris left over from the chaotic scenes that unfolded in the government quarter now thousands of protesters stormed and ransacked the Legislative Council on the anniversary of hong kongs return to chinese rule they hung the colonial flag and covered the walls with antigovernment. Her feet including the defiant message that hong kong is not china police eventually moved in firing tear gas to regain control of the building monday nights escalation follows 3 weeks of protests against planned legislation to allow extraditions to china hong kongs chief executive terry lam is facing calls for her re