Out this new silk road. Whats the environment like in hong kong with the overhang of andchina trade war, the political unrest that led to a lot of demonstration in the last couple of weeks . Can carrie lam shift the focus and gain more confidence among the investing committee as well as government officials. Here more than 5000 expected in the next day or so. We have a lot of guest. Lona ng and simon loong are joining us this hour. They try to build smart cities around southeast asia. Talking about the opportunities for the also simon loong joining us in the 11 00 hour. Talk about fintech, commercial banks and the like. Rishaad lets find out what is going on market wise. The position we find ourselves in overall. Looking at the nikkei up half of 1 . Someang seng seeing positivity, asian stocks hedging higher and higher at the moment. We did have that late rally among u. S. Counterparts. Japan, south korea in hong kong. Chinese stocks under pressure over there. S p futures slipping back
225, things are moving. Bitets should have seen a of a better move to the downside given what futures contract suggestion. Suggesting. Aussie dollar, we are waiting for the next salvo in this trade war at the moment. I say currencies because there have been a few signs the Coalition Getting together in the u k to fight a hard. That has been brexit. 105. 77, up a fraction at thesehe dollar but levels, we have exporters feeling it. That is why a cap has been put on the topix. Stronger a onshore yuan, pretty flat. 7. 16 rmb for the dollar. Lets get the first word News Headlines with su keenan. Su we start with hong kongs bountyleader backing a program for identifying protesters who have perpetrated vandalism and defaced chinese flags and emblems. He posted a link on his Facebook Page to a website that promises a crowd funded reward and anonymity to potential tipsters. Is named after the moment on august 3 when a demonstrator through the chinese flag into hong kong harbor. On the corporate
Anna relief in hong kong . The hang seng stormed toward the close after reports the chief executive carrie lam with withdraw the controversial extradition bill. Boris, beaten. U. K. Edges toward a snap election as a cross Party Alliance moves to block you know deal brexit. The antieasing brigade. Noc rosengren says he sees need for immediate policy action and the chorus of voices against bond buying grows at the ecb. Good morning. Matt good morning. Less than half hour from the european open and looking at the japanese yen to see what kind of effect the removal of the extradition bill is having on risk sentiment. This is a threeday chart. Maybe a little easier to see what is going on in those terms if i put it in a oneday chart. The yen is weakening. More willing to take risk after the extradition bill has been removed. That reaction should show you how important these hong kong protest have been to Global Markets. Look at what we are expecting in todays trade in the European Equity in
If she could. The latest. And counting the cost. We had to miami where Hurricane Dorian is capable of causing billions of dollars in losses. Newseen we have breaking out of south korea. Looking at the inflation numbers. Yearoveryear is flat. 0. 6 in july. Forecast to be up 0. 2. This is now the lowest inflation rate yearoveryear for korea on record. Pointing out they are missing falling into deflation for the first time. If you look at the core cpi, it is up 0. 9 . It takes out food and energy. Energy has been under pressure. If you are at the bank of korea looking at this, you have to think this could raise pressure for the bank do something at their next meeting. Gdp coming in for the Second Quarter at percent. Prior, 1. 1 . A small difference, not superstrong. Yearoveryear, 2 . Probably considered enough for the bank of korea for now. That number will catch a lot of attention. We will see how markets react. Lets look across asian market. You can see the red on my board. Asian tradin
Has lived in poland for 5 years he actively supports german polish Economic Cooperation but he didnt expect this particular debate topic to resurface. I was surprised when i heard about polands demands for german reparations and i was seriously shocked when i saw that many of my friends young poles who dont sympathise with the government saying that they could understand why the government wants this. Why they feel that germany has not yet built sufficiently with what they did to poland. 50 times more sauce oldtown is a symbol of german guilt the city was completely destroyed during the 2nd world war and then rebuilt without any help from germany now after almost 80 years berlin is being handed the bill a Parliamentary Committee has been working on a draft for the government so they can finally put this topic to rest even though for decades they had already considered it closed. Doesnt like the fact were talking about reparations we understand that. But for us the ease and important to