Eases the strain as the city looks ahead to the olympics. China has a puzzling problem, the labor market tight, unemployment low, yet wage Growth Continues to be week. Weak. We rarely talk about Wage Inflation in china. The other thing counting down to the open in china, last week, we that roller coaster ride brought together the nasdaq have a look at my chart btv 6495 on your terminal. We are looking at valuations about the same, 35 times current earnings. Is downhelp the chinext 14 while the nasdaq is up 18 . Perspective,ion right at parity. We talk about the nasdaq the nearer ring of that gap. We have a huge week when it comes to tech earnings, amazon, facebook, twitter, also big financials. That will determine the tech rallysoftware that goes from here, then looking ahead to the fed and u. S. Gdp at the end of the week, the imf report also interesting to see how they see u. S. Economic growth. On the last one, they did downgrade it. We are 30 minutes away from the open. Southeast a
Haidi his vision for korea. Seeking to create muchneeded jobs. Now says ite world is controlled by charities. A major shareholder has dropped out of sight. Now. Ing news right group growth on better exports. You this better budget that will be fleshing out. Mentioned that 2 target. Just extrapolate that from 3 . Have a look at markets right now. Has the market ended or are we about when you look at what happened on wall street , flatght, look at asia for a second straight day. The momentum that has actually been built in, still very much intact. There is a lot on this chart we have right here. Let me bring up the panel for you to give you a sense of what it is looking like. We were almost worried, do we get below 40 on the rsi . Usually that is a signal that it is about to turn. In a lot of ways, you look at this chart. It does seem high. It is very much alive, kicking, and well. Is all about perspective. It is only been has only been about a week. In the meantime, we get another recor
Unilaterally. More bad news for struggling noble. Bankruptcy may be the only way forward. Good morning. This is daybreak asia. I am betty liu in new york where it is just after 7 00 p. M. It is just after 7 00 a. M. In hong kong. I am yvonne man. Misslk about mrs. Today es today in earnings. South korea coming in negative at 3 drawdown or the month of june. The estimate was for quite a sizable uptick at 1. 1 . Also not looking great. We are seeing it down. 2 . Economists were expecting a 1. 6 spread. We did talk about gdp yesterday, which did slow down from the spread we have seen in the First Quarter. We will continue to watch how this ways out in korea in just about an hours time when they inct plays out in korea just about an hours time when they react. Tech has a lot to the downside. Day loucheave had a of earnings. We are going to amazon in a moment. Eluge of earnings. We are going to amazon and a moment. We will have retail sales as well as inflation giving more clues. The fed se
David it has been quite a week. I know we will be talking about the japan data in a moment. , ae a look at my chart simple look at Household Spending in china. Year on year change, a longerterm look because this tends to be a volatile number. What you are seeing is more red than green. In other words, we talk about a demographic problem in japan. Despite what they are doing, there is an underlying current that prevents this from spiking backup. This bike is the frontloading before the sales tax. Here is your base effect. Are come up for the First Time Since 2016, not bad. Full and slowly is the best way to describe this. Haidi it still feels like they are trying to shake off that sales tax implementation. The takeaway is it does not move the needle when it comes to boj policy, still nowhere near that 2 inflation market, getting further and further away from that. We will unpack that data and policy implications. In the meantime, what a roller coaster ride in the u. S. Session , the dec
Bring the money home. Anchor this is daybreak asia, coming to you from u. S. And asian headquarters. I am betty liu, where it is just after 7 00 p. M. Yvonne i am yvonne man. Breaking news out of south korea. A beat on all fronts for the month of july. The core cpi coming in at 1. 8 year on year. The headline figure above the 2 target for the bok. The0 basis points from previous month. The month on month numbers, kicking up a little bit after we saw moderation in the second half. We will see if the bok will react to any of this. It might be staying on hold for some time. Betty indeed. We will be watching for any movement here on the inflation as we mentioned. Askingf central bankers about inflation these days. In the market,e a lot of the questions are really around washington. When does the turmoil stop . When does the turnover stop . That weighs on markets. Up 50ped along and ended points. The nasdaq also lower. We are waiting for some big tech earnings including out from apple. Noth