That continues to decrease as gold and other assets move higher. A big deal today, allergan up theon the neil that on news that abbvie will buy it. 20 is not as much as the 45 premium that abbvie is offering. Hsbcs ceost guy john flint weighing in on President Trumps trade war with china. Take a listen. When we get past trade, i think it is clear that there is a broader desire to see china contained in some way. I think we will move into a chapter that covers technology, and maybe bifurcation of technology and technology standards. Guy containment. Havent heard that in a while. We are joined by john rochester, nomura asset strategy. Does trump do a sort of kim jongun and walk away . It could go that way. The market is not expecting that, so that is a long dollar trade. In essence, holding long dollar is the better choice of the two because since last tuesday when we had the news of the beating between the two sides, we have , the feddollars often now having 95 basis points in cuts pric
Entertainment. This is daybreak asia i am in new york where it is just after 7 00. It was an extraordinary jolt for u. S. Markets. 10 days of record gains when it comes to the dow. S p also seeing record high. It shouldnt have taken very much for that jump to happen for volatility to jump. Withrprising it came strong rhetoric from President Trump. It is hard to discern what that rhetoric means. Does fire and fury from President Trump, what does it translate into in washington . It jolted the markets and caused us to fall to session lows. But we seem to have come back a bit, closing lower still. It was the initial fall that rattled the markets. Going to be focused on china Inflation Numbers here. Haidi thats right. Not to much overreaction when it comes to the aussie dollar. Look how it is setting up given a fairly volatile session. Lower sessions today. The kiwi dollar for a second day was the worst performer of the g10 currencies. No expectations of a rate change but certainly some we
Tracy im tracy alloway. Riyadh. You are in that is not your normal place. What are you doing here . Are not here to look for oil barrels. The story here is about the Stock Exchange. They have the biggest Stock Exchange and they are pushing ahead wiith the series of reforms. Part of it is to make it deeper. Part of it is to perhaps repair as well for the delisting of saudi aramco, but also to diversify away from its dependence on oil. The new parallel market they are is arabichere, tracy, for growth. It requires a market value of at riyals. Million saudi and they are offering a percentage of at least 20 . Of course, all of this again part of the broader efforts to try to prepare the market for the emerging market inclusion. It shows regulators are serious with moving ahead with bold, constructive reforms. The realtors have not really bought into the stock market story. Yousef, one reason they are not buying the story may be oil. Take a look at the chart i have prepared for you. I know i
The latest from beijing. In the emirates. I am Tracy Alloway in dubai. I in shery ahn in hong kong where it has just gone midday. The boards here have been a hike from the fed. It is affecting markets across the board here in asia. We are seeing equity markets rallying to to the highest level since 2015. The japanese market saw that downward market. The south korean won is losing a asian currency. Optimism the funds will keep flowing into the region after that hike from the fed. Take a look at the offshore renminbis. It is shrink fitting 3 10 of 1 . When it comes to the onshore, they strengthen it by. 37 , the most since january 18. All about sovereign bonds data this morning. Australias Unemployment Rate on gaining rounds as well. Tracy you mentioned the end gaining. The u. S. Dollar doing something on in reaction to the fed decision, it is weakening. It is still weaker today. That is feeding into commodities. Take a look at how oil and gold is reacting. Gold is the big mover. It was
Yousef it is 8 a. M. Across the emirates and 5 00 a. M. In london. Angie it is just past noon in hong kong. Welcome to Bloomberg Markets middle east. We have gotten a lot of news coming out of asia. Really thing that is threatening the markets is oil. Manus it absolutely is. When you look at the oil price, just eeking out a small gain this morning. Have a look at the chart. Combining the relationship, oil and equities. The white line is the world index. Oil is the other one. Dropped over 5. 5 since opec officials got together on friday. Growing quotas discord. A lack of confidence in terms of the oil market. Doing a deal, getting everything together with opec. 40 if the deal does not go through. The bank of japan this morning, i love their opportunism. 60 for the bank of japan. The secretary of general spoke to was yesterday and you are focused on that. Angie calling for unity for the organization as it will have a supply deal next month. Took anptember 20, opec allinclusive decision t