Prompted widespread fears and borrowing has prompted collapse. Fears of and, information sought on accounts involved in the elections. We have struggled to hold onto the gains we saw earlier this morning. Today, the u. S. In the red. The only sector still up was technology, but barely. We had that rally, but tech lost ground based on some of the details on the tax reform bill. , want to pull up this chart 879. It shows you how investors have been anticipating the tax bill will be bearish for tech stocks. Shares underperforming since the end of november as more details that come out on tax reform. David it has become a real problem, especially in asia. We have been down for seven days. Four of those dames with the kleins of more than 1 . It has been a drag. Declines ofhose it more than 1 . It has been a drag. Lets look at markets in new zealand, kiwi dollar underwhelming. Gdp,straight come big day, rba Rate Decision not to do anything,. 1 . Yields lower, bonds up, aussie dollar unchange
Singapore. Singapore sang it is the worst case of gross misconduct it has ever seen. Hong kong the worst sales downturn in 20 years. 2016 are being described as icy winter. Do follow me on twitter rishaadtv, and use trendingbusiness. Well, getting to these markets at the moment china and hong kong getting underway. Singapore with gdp figure stronger than anticipated, reaction as the market opens along with taipei and kuala lumpur. We are seeing a broadly up day when it comes to the asian markets, tracking the gains in the u. S. Session. It is a confluence of a positive , oil gaining, yen weaker, risk off the table. The prospect of a u. S. Recovery looking brighter giving the surgeon home sales overnight. Given the search in home sales overnight. Sydney getting a lift from a rally driven by energy stocks, some refiners and basic minors. Miners. With gains, up eight tens of 1 , a very good week. Has settled down after selling automatically, a mass accidents out of the korean bond market,
Most in six weeks. Investors dont have much to be optimistic about. The fall has halted the longest winning streak in eight months. The hang seng index also down. 1. 3n continues down percent. We are seeing a stronger yen hitting exporters. New zealand gaining. 1 ahead of a decision tomorrow on the benchmark interest rate. They are expected to hold steady at two point 5 . The asx 200 gaining. 3 . Asian stocks are mostly rich led by mostly retreating, led by mining stocks. Mining stocks in asia falling across the board after chinese exports fell the most since 2009. And of course, Energy Producers are also feeling the squeeze today as oil retreats for the second consecutive day. Crude now at 36 a barrel. , rishaad breaking news. Donald trump has won the michigan primary, earning 40 delegates there. 50 of votes have been cast. With ted cruzins second. Marco rubio follows on from that. Ine bad news for marco rubio his challenge to becoming the forblican nominee president. Earlier on we he
Angie lau. Index futures pointing to modest yen, but it is the weaker the dollar heading for the longest rally since january ahead of the u. S. Jobs report later this week. Thes head over to korea, kospi pretty much flat with the korean yuan seeing weakness today. Closed,kets are australia, new zealand, and hong kong. Lets head back to japan. Looks set for a fresh round of economic stimulus. Local reports say the plan to supplement the bojs efforts are a done deal with some minor details needing to be worked out. David has more. David what will happen tomorrow is the existing budget is expected to become law. , shinzo abe ise expected to outline some details of this new deal. A lot of which is basically frontloading that existing budget. It opens up room this Time Next Year for japan to introduce new public works projects. Farm infrastructure, building facilities for trains, upgrading the ports to welcome large cruise ships, and trying to get ahead of inconsistent growth. ,ome other sp
Also showing the rising stress levels as chinas big banks. No more mr. Nice guy, china no longer wants to portray the president as a populist hero. They will drop the nickname xi dada. You can follow me on twitter. Underway in 30 minutes time in hong kong. Shanghai getting going, as well. No trading in japan today. When it comes to equities, here is heidi. Japanese we are seeing continuing to take a beating. Down. Is is how japan is continuing to come under upside pressure. This is how we are looking at in terms of the markets that have just joined the trading day. Another down day. Similar losses when it comes to markets in kuala lumpur. Quarter gdp numbers missing the contraction of the 10th 7 , worse than expected. Of 1 , worse than expected. Kiwi markets up. Cindy flattening out. Ney flattening out. Search in crude prices overnight. Inventory continues to evolve. Upsaw asian currencies alongside that enormous surge in the yen yesterday. The new taiwan dollar reacting to that number