Power took another hit as Mitsubishi Materials admitted to falsifying data. They falsify data on goods that may have been delivered to do under 50 customers. Shares plunged the most in 18 months. Global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. This is bloomberg. Lets take a look at the markets where hong kong and china are currently closed for lunch. In the morning session, hong kong hang seng showing up the market consternation in china. Back in half an hour. This is bloomberg. Welcome to best of Bloomberg Markets middle east. The major stories driving headlines, the corruption crackdown continued to superriche, saudis stashed their cash, just in case, even if they had not been implicated in wrongdoing. E calls time on his 37 year rule. And Global Equities hit record highs yet again. But does the sale of the da vinci for forgery 50 million paint a picture of the market over exuberance . We hear from one Senior Analyst who thin
Welcome to best of Bloomberg Markets middle east. The major stories driving headlines, the corruption crackdown continued to reverberate, saudis superrich stashed their cash, just in case, even if they had not been implicated in wrongdoing. Robert bugabe calls time on his 37 year rule. And Global Equities hit record highs yet again. But does the sale of the da vinci for forgery 50 million paint a picture of the market over exuberance . We hear from one Senior Analyst who thinks alarm bells should be ringing. The oil market year it for the much anticipated opec meeting, which takes place november 30. Saudi arabias Energy Minister has told bloomberg the cartel and its allies should announce an extension of their output curbs when they gather in vie nna. Russia has not sounded quite as convinced. We have more with our guests and our middle east reporter. I have a chart that i think encapsulates what we have seen in the oil market. This is hedge fund short positions in brent. The red line
Over exuberance . We hear from one Senior Analyst who thinks alarm bells should be ringing. The oil market year it for the much anticipated opec meeting, which takes place november 30. Saudi arabias Energy Minister has told bloomberg the cartel and its allies should announce an extension of their output curves when they gather. Russia has not sounded quite as convinced. We have more with our guests and our reporter. I have a chart that i think encapsulates what we have seen in the oil market. This is hedge fund short positions and brent. The red line is the short position just beginning to pick up. It does not look like much. Are we seeing some investors take profits off the back of the big rally in oil . Or does this mean some people are doubting the strategy we just heard about from the Saudi Arabian oil minister . We were seeing the longs increasing last week. People will try to balance their books. What you saw from the saudi minister has been trying to minister manage expectations