Policy speech. The city faces rising infection rates and a clamp from beijing. Joe biden names his Foreign Policy and Security Team as he with to calm Relations International friends and foes. He says america is back ready to lead. Haidi lets look at the set up at the start of trading. We are seeing some green shoots at the open, about. 4 higher. Global stocks as well as asian stocks continuing to be on a tear. We are watching keenly for developments in kiwi assets, given we had the rbc releasing its semiannual stability report. This is pushing the kiwi dollar higher. U. S. Ashed through . 70 yesterday and we are seeing expectations of negative rates dissipate even further. Unlovedtors rotate into areas, it may not mean the end of things that have been successful so far. John praveen is Portfolio Manager for qma. He joins us on the phone from new york. We are talking about what happens to big tech given the rotation trade gaining a more solid footing. Is it the behavioral changes, chan
The Trump Administration overstepped its authority. Ntt reportedly planned to take its wireless carrier unit private. At buyout could be valued 38 billion. At thebreaking news moment. We are getting Industrial Production numbers for south korea. Year on year, it should be for the month of august, a decline of 3 , matching expectations, and bigger declines than the previous month. We continue to see some weakness year on year. Industrial production numbers have been in contraction for five consecutive months. When it comes to the previous month numbers, they have been revised slightly upwards but not by much. Month on month, a contraction of 0. 7 which is a contraction instead of just coming in flat as expected so that is disappointing numbers. Perhaps we could see some better numbers later in the year. We do have trade numbers for the month of september. We are expecting it to come up on thursday and exports are likely to see an annual gain in september so lets watch out for those numb
Across the americas. The spread is unacceptable. South korea braces for a second wave. Lenders are backing away. Bank of considering cutting a credit line, writing off its and calling it quits. We are just getting some indications, early indications of the economic rebound in australia. The cva australia pmi manufacturing preliminary number for june bouncing back. Just in contractionary territory but certainly much better than the 44 from the previous reading. The Services Number also much better i we get parts of the Services Economy reopening after the restrictions coming in at 53. 2. The previous reading was 26. 9. That composite number for june, 52 point six. 28. 1 and out of contractionary territory. That is a preliminary reading but things looking a bit more positive. Also looking positive for asian markets, lets get over to Sophie Kamaruddin for a look. Futures are in the green with s p eminis and he restocks resuming gains while the aussie dollar remaining on the on foot at the
This is the position we find ourselves in. Looking at futures contracts for the s p, those are indicating just about a flat picture. We did have records once again for the major benchmark indices on wall street that should have been given is more of an uplift to the tail end. It is just up fractionally in the msci all country world index , which means we are just about 1 away from a record when it comes to global stocks. This is what we have just at the moment. Just appreciating just a little bit despite the horrible production. The fact that the rba is paused for now with regard to Interest Rates and a ruling out a move toward quantitative easing for the time being, just playing in the yield, just in three basis points. Ok. With that in mind, lets find out what else is happening. Lets get to the first word news. Thank you. We are going to start with the white house. A budget official in the Trump Administration says he warned his superiors that a hold on security aid for ukraine could
Yields, lets look at how the bond markets in asia are looking. Boj stepping in to stop the slide in yields. Yields have been below the target of the boj. How much can the boj do . It cut its bond prices by ¥30 million today. Will it do more . Stimulus over the next six years not helping. We have new zealand 10 year yield below 1 currently, ann australiad 10 year yield below one as well. We talk about inversions of two and 10s, it looks like asia may be looking at the same phenomenon. Some are looking at singapore and australia to experience those inversions. Yvonne lets take a look at india. We potentially could see a catchup rally. We are seeing that in the cost the already kospi already. The nifty closed up 110 of 9 . 10th of 1 the rupee at 71. 44. We heard a speech from Narendra Modi heading back at critics on his decision to revoke kashmirs autonomy. Impact talk about the that violence has seen on the economy. Lets get to first word news. China has slammed looming u. S. Tariffs, s