Smartphone sales. Details about the beijing security law. Shery this is quite a reversal from the deficit we saw in the previous month. We had seen south koreas current account falling to deficit for the first time in about one year but the numbers have recovered and we are seeing a rebound with our current account surplus topping 2 million. When it comes to goods, the trade surplus coming in at 2. 5 billion for the month of may. This is quite a recovery given that we had really fallen to the lowest level since 2008. Good trade surplus numbers. A much better than expected number out of south korea when it comes to the current account surplus and also the goods trade surplus for the month of may. Lets see how markets are trading at the moment. We are seeing now nikkei futures unchanged. Same for u. S. Futures. This after we had stocks here in new york jumping following the holiday weekend. We had seen five sessions of gains for the u. S. Now unchanged at the moment. The japanese yen Hol
On in hong kong with china over the weekend saying the security law could override hong kongs legal system. We she we see shares on the hang seng. 23,469 for the hang seng. The csi 300 pointing positive. Showing the resilience across these benchmarks. The kospi as well, we did get those export numbers. A slump easing a bit. Not very encouraging when it comes to exports of chips. Only a gain of 2. 6 . We saw a 13 advance in may. Perhaps this recovery is in an early nascent sense. The p cop, lowered by 910s of 12 . A decision coming through bank of centro and the rbnz later this week. Later on when it comes to assets, the disappointment has been with the china lpr, which they did not do anything. Given the credit numbers we have gotten, perhaps it was reason to pause. The selloff in bonds, are we going to continue to see that change . Ozzie yen, you are seeing a perk up aussie again, you are seeing a perk up. The dollar is rising for a fifth day. We have seen some flareups in australia.
Caller there are many many millions who are not coming back and some Small Businesses that are struggling an advantage. Airbus flies after boeing sees deliveries drop to the lowest level in six years from from the iata director later in the show. And swinging to the first ever quarterly losses as the lockdowns hit sales. But stores will reopen in most markets in june as it bisdishest a bonus dividend a warm welcome to street signs. Lets kick off with the fresh outlook from the oecd coming out now seeing negative growth of negative 6 and negative if a second corona outbreak occurs. The euro area gdp is forecast at negative 9. 1 in 2020 negative 9. 5 if a second outbreak occurs and the uk negative 11. 5 and negative 14 next year if another outbreak occurs. They have presented two scenarios. One where the virus continues to recede and one where a rapid contagious continues through 2020 and looking at what would happen let me run you through these for 2020 global gdp seen down negative. 6
Worldwide trade has been slashed. Postnba future, we will hear from lebron james. Feeling more risk as we head into the last trading session of the week for asia. Lasttrading flat after the halfhour of frenzied gains, s p 500 up 20 loss in the previous session. Nikkei futures at the moment looking flat. Dollaryen holding at 107. Gainingg dollar index with the exception of the kiwi and aussie dollar. It feels like we will see modest over in spite of concerns increased virus numbers, particularly in the u. S. And globally we are averaging 150,000 new cases per day. The underscores uncertainty. The senate in the u. S. Approving a bipartisan bill that would limit banks doing business with chinese officials involved in hong kong. Tom mackenzie is in beijing. It still has to be signed into law. Given unanimous consent, how likely is it this will be enacted . Tom very likely at this stage. It has bipartisan support in the house and it has been signed off in the senate. It will end up on trump
Moment of negative Interest Rates as well. As you leave the hour, francine, the United States excuse me by theington transfixed battle between the president and mr. Bolton. It has changed overnight into new legal action by the president. Francine nothing like an injunction to sell a new book. Lets get straight to bloomberg first word news in new york city with ritika gupta. Take a coke china is vowing retaliation for u. S. Ritika china is vowing the government of the u. S. Has set , sanctions for any oppression of uighurs or muslims. John boltons book says the president meanwhile, bolton also wrote that President Trump asked xi jinping to help him we reading help him win reelection. Thevastating betrayal of president s Foreign Policy. President trump called bolton a the book tos asked stopping publish. Economists predict the central bank will expand its Bond Buying Program by 125 billion dollars. Meanwhile, investors will watch for any hint of radical policies such as negative Interest