A jeans games in the South China Sea china in turn accuses the u. S. Of undermining Regional Peace and stability a 1000000 man accused of torturing women and destroying ancient monuments in timbuktu goes on trial at the International Criminal courts also this hour a strong resistance to Donald Trumps demands that schools reopened in september as coronavirus cases soar in several u. S. Cities its more not going to put our children in a place with their health is in danger and the u. K. Government is expected to ban huawei from its 5 g. Network in another setback for the chinese tech giants m joining us youre up there with the board as the search begins for a new name for washingtons n. F. L. Team paul top and be a star Russell Westbrook test positive for current virus and there are more cases inside the leaks socalled bubble at disney world in florida. Thank you for joining us china is accusing the United States of trying to stir up trouble in the South China Sea thats after secretary o
H shares in now and hong kong up by. 5 . Pretty marginal gains here in the last half hour or so with it brings us near the top of the 2015 bubble. On the other of the argument hsbc is cutting china to neutral f this rally. Something to keep in mind as we take a breather here from the exuberance weve seen in chinese stocks. One more thing were watching is the hong kong dollar. Now 15. 7 billion hong kong has been injected into the system there. Solid that pair and the renminbi with a six handle for the First Time Since march. The strength of the renminbi certainly helping the equity markets as well. And gold still holding. Some breaking news from sri lanka, the federal bank cutting its lending rate to 5. 5 . Its a big cut, a 100 basis point cut bigger than expected. Economy expanding at a pace of 3. 8 in 2021. Much bigger than anticipated. Lets dig deeper into the ofkets and bring in ahead forpacific thank you joining us. Lets talk about china. Its going gangbusters in the last seven da
Discussing the draft law on sunday. It is scheduled to end on tuesday. It is aimed at cracking down on antigovernment activities in hong kong and lays out four criminal acts that beijing says threaten the country. They are advocating secession, subversion, terrorism, and collusion with foreign or external forces. It also stipulates the Chinese Government will set up a National Security agency in hong kong that may exercise jurisdiction in certain circumstances. Provisions of the proposed law have yet to be disclosed. Hong kong media reported it could carry a maximum penalty of life imprisonment. After being approved the legislation is expected to be promulgated by the hong kong government. Concerns are growing among hong kong residents and the International Community that the one country two systems principle that guarantees a high degree of autonomy for the territory could be destroyed. The Chinese Government announced a countermeasure against the united states, saying it will impose
Cases continue to surge at home and abroad. The World Health Organization reports a oneday high for global infection. Japan plans to pitch for ancial workers under g workers uneasy about their future. Lets take a look about a look at how markets are setting up. Asian risk assets likely to see a selfstarter this monday as a sections are weighed up against improving Economic Data. We have a calendar today with hong kong pmi and indonesian Consumer Confidence on cap. Kiwi stocks, little change. Fluctuating. P moving to a 10th of 1 . Haidi to our top global stories, one that is going to preoccupy markets in the second half. Local coronavirus cases topping 11. 3 million. The World Health Organization reports a single day record in new infections globally. Cases any the u. K. , south africa, japan and the philippines continue to rise. The u. S. All the daily infection rates low. Calling for more restrictions to curb the outbreak. In australia, nine Public Housing tower blocks with 3000 peopl
Focus with back in more job cuts in the wake of a record loss. Lets get you started with breaking news out of south korea. The Unemployment Rate for the month of may, coming in at 4. 5 , much higher than economists had expected. 392,000 jobs were lost in may from a year earlier. 4. 5 would be the highest level since 2001. This would be the adjusted jobless rate. We have seen losses of jobs when it comes to the hospitality, retail, and manufacturing sectors. Pressured because of weakness in global demand. There was some positivity over easing social distancing. For the month of may, it seems the Unemployment Rate has jumped in april, the. 8 highest level since 2001. Theing us for more is jpmorgan chief economist. Great to have you with us. That seems to be much higher than expected. His it just the is it just the tip of the iceberg given that we are expecting external demand to continue to be weak for the time being . Good morning. Yes, that number is higher than our expectations, indee