Also his rhetoric reiterated when it comes to china, saying china should have kept the virus where it was and could have stopped this virus spread. These are the latest lines coming through, the president saying trump the u. S. Can deal with the flareups. We are seeing with stocks we are basically coming off some of the lows but still heading lower today, u. S. Futures extending losses to more than 1 now. Jakarta coming online. We have a Bank Indonesia decision today, expect some type of rate cut. When it comes to india we are watching the standoff on the border with china. Besides continue to talk. They are pledging to deescalate after the deadly clashes. Here is what we are watching out for, not a lot of catalysts. Looking at the dollar, it is very much on the stronger side and youre seeing the likes of the aussie dollar reacting to those unemployment numbers which was a big miss. U. S. 10year yield, seeing bonds that are up as well and the china 10year yield is what we are watching
60 billion kiwi dollars. It is projecting a contraction of its gdp in the Second Quarter to 21. 8 . New zealand maintaining its benchmark Interest Rate at 0. 25 , all pretty much as expected. The rbnz has been at the forefront of supporting the 0. 5 already. Ates under a lot of pressure for this fiscal stimulus, as weve been saying, to double to 60 billion kiwi dollars. Facing a lot of scrutiny on whether to take rates to negative. We will see if it does that later on. For now, keeping rates steady. Kathleen bring in hays. It does seem like rbnz did exactly what the markets expected. Absolutely. There was no changing sentiment in the key rate. 75 basis points move in midmarch, that emergency front, the rbnz saying they are prepared to cut the cash rate further, taking it lower, then that door gets opened even wider. They are saying that the balance of economic risk remains to the downside. Forhey are looking contraction in secondquarter big that would be quite a hole to fill. They are
Down across equity markets 1 . At least we are getting some bounceback in u. S. Equities. But given a 3 drop, hardly any consolation. Further into negative. In australia a low 16 basis points, the flattest curve in australia going back to 2009. Flipping the boards, what else are we tracking . It is not a good day. Msc i down 0. 8 . Home prices nothing to write home about. Ems, 0. 6 . However cheap you think they are, a strong dollar keeping the money away. Uneventful. Dollaryen, 106. That is steady, bodes well if you are looking to buy into this. Joining us to answer that question, ken wong. Agent equity portfolio specialist. Ken opportunities. Over the next couple weeks a lot of Companies Reporting their earnings. Itll be good to see specifically what the guidance will be. We know markets are relatively cheap. You look at that from a historical standpoint. That said, you still have to be careful. Below theirrading Intrinsic Value. A lot of investors are waiting for silence. I was in a
Japanese Prime Minister for the first time in seven weeks, its actually an unusually short periods between talks for the two. Tells us perhaps its a bit of a shifting approach for the boj in terms of the yen direction and we could perhaps get the boj joining Government Officials in verbal intervention. This we know they are closely attuned to the economic impacts. Automaker stoxx, for instance, traditionally a key beneficiary of the weaker yen are now starting to see the negatives. Today we have the nikkei coming on a bit under pressure. Quite a rangebound day on wall street. So perhaps we are unlikely to see any major moves, especially ahead of key earnings from the likes of toyota. Lets switch to korea now. At the start of the day here, that outlook for korea is under pressure. But look at that big trading debut at the bottom, that is hd hyundai Marine Solution. Its and Ship Repair Company. It just started trading this morning in seoul after raising 500 550 million in its ipo, the bi
expected we have to allege down the road and find our way back what we expect for this year, this is our guidance to maintain towards the issue. nokia cheers investors as they swing to a profit in the fourth quarter but chip maker qualcomm warns about the coronavirus disrupting the phone industry industrial orders in germany sink in december falling over 2% ecb president says the eurozone economy are showing signs of stabilization. good morning the number one story we are following. china has announced a surprise cut in tariffs on u.s. goods beijing has said thousands of goods will be cut in half effective on valentines 14 the chinese yuan has jumped to a two-week high. we have come in from around that level we have been discussion. not a lot but still, it does tell you we have pulling back from some of those weaker 4re levels and from the scare of the onslaught of the coronavirus with the announcement that china will be cutting tariffs on u.s. goods. looking at the m