Approaching midmorning across the asiapacific. Session highs on the benchmark itself. We are looking at emerging markets index, the adage when china starts to go one way, that is where most things go. We are going the opposite way as far as the china story. At least the last 18 months or so, quite a rally that is forming. Weve seen this movie before. It feels a little bit more different when you juxtapose the amount of measures and announcements and pronouncements and promises that have been laid out the past two weeks or so. Whether the data at some point sort of moves with the rhetoric, yet to be seen because as we were pointing out the pmi numbers are underscoring the need for why we are seeing more of this out of beijing. Romaine the thing is we got the beige book, reinforcing what goes on in every Industry Group apart from essentially going out and traveling a little bit. Otherwise, a dismal sort of showing. Chinese people cutting back on everything but travel and restaurants, the
this is a deal and it s good news, i believe, for the american people. the agreement prevents the worst possible crisis, a default for the first time in our nation s history. the two parties have untiljune 5th to reach an agreement to prevent the us government running out of money. our correspondent in washington jessica parker has more. this deal is set to raise the debt ceiling for two years. that s a big win for the white house. why? well, it means that, forjoe biden, who of course is seeking re election in the 2024 presidential race, he won t have to face this political drama, instability, brinkmanship, right in the run up to that presidential election, so he ll be pleased with that. but the republicans are trying to say they ve chalked up wins in terms of policy, so they are talking about, for example, kevin mccarthy, the house speaker, that there will be curbs on spending. he s talked about how there will be tougher work requirements for some people in receipt of food a
Softbank swings to a loss of 60 billion yen, but still returns to profit on the group level. Israel orders more residents to evacuate from rafah as the death toll in gaza tops 35,000 u. S. Secretary of state Antony Blinken saying washington needs more clarity on the strategy we havent decided what happens after the war ends right now, the trajectory that israel is on is that if it goes in and takes heavy action, there will still be thousands of hamas left welcome to monday morning street signs. Its been an hour since the markets have opened. We are seeing gains marginally we still have the earnings front and data and key is the u. S. Inflation print later on this week just to note, investors keeping an eye on that with travel and leisure stocks picking up 0. 5 most of the sectors managing to find green positivity is what you get from the overall market picture we will zone in on the sectors now. This is what you are getting from the boards. This is where you see the gains. The ftse 100
For stocks. A little bit of upside on the nikkei at the start of trade. We are still seeing dollar yen hovering at 155. 6. Of course its about whether we get any indication about curtailing of bond purchases from the Japanese Central bank. Seems like the bond markets are betting we do coming on the japanese 10 year government bonds. Lets take a look at what we are seeing in south korea. Yesterday we saw those declines on stocks as the metaearnings and outlook put a dent in what was otherwise a recovery for asian stock markets. Taking stock, weve seen four of the seven banks report and so far it looks quite good, especially after microsoft and alphabet knocked things out of the park, proving their worth and that they are able to make money from aia investments. Weve seen the upside in south korea as well, the korean won moving toward 1370. Lets look at whats going on down under. Australia was on break yesterday. The big news was how bhp is having a takeover approach for the rival Anglo
Is the market going to be right again . How divided is the e. C. B. s governing council on the exit from easing . 12 u. K. Meeting at time. Matt . Matt were less than half an hour away from the start of european trading. Happy thanksgiving by the way to you as well. Because the u. S. Markets are closed you may see a little bit less volume today and tomorrow nobody in his right mind is coming to work either in america. Be prepared for light volume that could mean a lot of more volatility than we typically expect. Here you see futures pointing down across the board. Take a look at bonds here. A three day chart of bonds on my screen. The yield on the german debt shot up yesterday to 38. It is back down now to 34. Were looking at bonds, bond buyers that are sellers again today in the german and european market. Guy . Guy lets talk about the big story over the last few hours. The cross alselloff we have seen coming colossal selloff coming through in china. I think the c. S. I. Could be 17 m