Slap the strongest fix ever, 1000 bits hired to stabilize the currency. Yet the currency is not looking at a gains even as we speak. It is also about the bond market rout happening globally, and we have seen in year yield surging 50 basis points in august alone, and when you surge the stocks go down. Msci asia index erasing some of the gains, up to its sixth straight day of losses. Benchmark and new zealand down. The benchmark and singapore also lower, and we have csi 300 index barely in positive territory. We have talks about how some companies are buying back their shares, not lifting sentiment as well. In the fx space, some green, aussie dollar up about what of 1 . You want yuan pretty flat. You have got to question, it is a weaker dollar story today, so how effective has of the yuan fix been . Take a look at where we are in terms of gold. Gold is up, oil surging beyond 80 per barrel. It begs the question what will that do for inflation and the fight against inflation . And terms of
Earnings from nvidia delivering on the Monetary Policy front. We saw how the fomc minutes came in more hawkish perhaps more than powell led on during his speech and that is bringing a resurgence in the dollar and putting pressure on asian currencies, particularly on the chinese yen. Pboc seems to be leaning in. They said that six at the weakest level since january, allowing declines. We see the korean won under pressure no thanks to the strengthen the dollar but it mostly held steady after the bok kept rates unchanged as expected. Yen has been moving up towards 156. 9 earlier the session, i want to highlight what we see in chinese equities, it declines on a day where other counterparts are gaining. There also concerns about geopolitical tensions. Hang seng leading declines dragging the index down. Csi three hundred, material stocks but as you say it is about nvidia and about how even though there was a high bar, it really delivered on what we hear from the ceo, it sounds like more is t
,tty this is daybreak asia live from bloombergs u. S. And asia headquarters. I am betty liu, in new york. Yvonne i am yvonne man in hong kong. Breaking news out of south korea on First Quarter final gdp numbers coming in at 1. 1 . For 0. 9 s were hoping estimate. Relatively marginal beats. A year on year figures coming in at 2. 9 . Gdp setting the fastest face pace we have seen since 2013. We will see what the Market Reaction will be. Big story this morning that happened the last couple hours, the stunning announcement from president donald trump. We saw classic donald trump come out. We absolutely did. At that overshadowing any news we are getting so far. In terms of the reaction in the market, it was interesting. Been. S. Markets have getting higher. They ended at the top of the session. You can see the s p higher by 0. 8 . The dow adding on 135 points. The nasdaq composite rising 0. 8 . The doomsday scenario we saw from u. S. Ceos saying it would be bad for the economy has not playe
Paris. Oil prices are also under pressure with brent crude falling below 50 a barrel amid concerns that President Trumps decision to exit the Paris Climate Accord could spur an increase in drilling. The Global Market rally moves on with the nikkei closing above the 20,000 mark for the First Time Since 2015. And european auto stocks driving higher on hopes that trumps withdrawal from the paris accord will ease the Regulatory Burden on carmakers. Good morning. Its friday. Glad youre with us once again. Lets continue with our top story. Germany, france and italy hit back at donald trump saying the paris climate agreement is not up for renegotiation. Their joint message follows the news that President Trump will withdraw the United States from the 2015 climate accord. Speaking in the white house rose garden trump says the u. S. Will begin negotiations to reenter the agreement with you warned he would only accept a deal fair to americans. The Business World hit out at the move. Goldman sach
But huge differences remain as the us, canada and mexico try to hold together one of the worlds biggest free trade zones. And russias Biggest Oil Company is leading a 13 billion deal which will secure it thousands of petrol stations across india. Hello and a very warm while on to World Business report, wherever you are watching. I am ben bland. The us, canada and mexico have finished their first round of talks to overhaul north Americas Free trade deal, nafta. It follows president trumps threats to scrap the pact, saying its been a disaster for us workers. The countries have pledged to reach an agreement by early next year, but some trade experts have warned the timetable is just too tight. There are huge challenges ahead. The us says it wants new measures to make sure a substantial proportion of vehicles covered by the deal are made in america. At the momentjust over 62 of each vehicle must come from one of the three countries but reports suggest the us hasnt yet revealed how it wants