One china policy should be tied to trade. Prices, this Historic Deal to cut output. Oil jumping over 4 . Jumping to the highest since july 2015. Saudi arabia signaling it is ready to cut output more than agreed, while a nonopec countries including russia agreeing to pump less. Sophie we will have more about that deal in a bit, 30 minutes away from the open in china and hong kong. Singapore, taiwan, and malaysia coming online. What is going on in the oil patch . Game inhere is only one town, and it is demolishing every other safe haven. Gold retreating, bonds falling, all on the account of renewed Risk Appetite after the meeting between opec and nonopec members. Saudi arabias surprising the markets, saying it is willing to cut more than pledged. Russia and other noncartel members coming on board as well. Stocks, oil Energy Stocks leading the gains. Energyheavy markets like a straight up, the nikkei 225 getting that double boost, oil majors leading gains, but the impact of a weaker yen,
For the first time, but economics continue to struggle. And hsbc chairman says china is managing change extraordinarily well. He tells us what he thinks of trump policies. Indeed, thats going to be tracking markets, front and center, we have the whole Federal Reserve issue to be dealt with in the next 24 hours. Theres a 100 expectation that there will be a rate hike, its about what is going to happen in 2017. They say two rate hikes coming up. We can dive into it and see what weve got right now. The next rate hike possibly being as soon as february there as well. 86 chance of that happening after this one which is nearly a 100 probability of the high taking place there. Fed pretty much front and center. Seems like its going to be normalizing. We are 30 minutes from open in china and hong kong. Singapore, taiwan, just coming online. Heidi, how are the markets looking . Were looking a little bit mixed at the moment. Tokyo shares falling into the red, extending losses over the last couple
Just a little ways from the open here in hong kong and shanghai. A bit of positivity for singapore. Whats the mood like . Have one market that is already closed, new zealand. Volumes are quite thin. Theres not a lot of appetite to take big bets ahead of the new year. Have a look at new zealand. Extremes,ot of especially across assets, if you will, in the past several weeks. We scaled back from those extremes when you look at gold, which fell to a 10 month low. It has recovered quite a bit. In australia, gold miners are on the way out. Its close for the day. It is clocked in. Its fifth straight annual gains. That market is quiet and we dont talk about it a lot because it is quite small. A nice rally the past 15 years. 11 of the past 15 years, we have seen markets here at five straight into this year. Australia has a short trading session p. M. Korea is already closed for the year. South korea just managing to buck the trend. Overall in east asia, the second year of gains in south korea.
The ting jay y. Lee as investigation into south koreas scandal looks to iden to other conglomerates. Takata surges in tokyo after maker ubled airbag settles on a billion Dollar Settlement in the u. S. And with trade data from china will the implications of presidency be reaching. Examining reaction to at whats ng going on as far as the yuan goes, were still about 29 inutes away from the start of trading here in Hong Kong China a mixed picture when it comes to whats happened so far. Who is ve look at coming online and how they are changing the narrative. Malaysia, all starting their session. Kick off with in thegoing on, currency space given that a dollar is showing weekly loss. Fed chair yellen bolster the case of tightening policy. Traders tell us that funds overnight low to further unwind dollar ong positions and that laernl exporters are seen elling the yuan keeping below the 1,200 yuan level koreafter the bank of held its rate at 1. 25 , as largely expected. We do have gold steady
Merge with essilor in a 53 billion deal. It is 8 00 a. M. Across the emirates. I am yousef gamal eldin. Shery i am shery ahn in hong kong. Welcome to Bloomberg Markets middle east. Risk off sentiment, everyone crowding the dollar again with the index up. 4 and the japanese yen strengthening for a session. Secutive a different story for the british pound after breaching that 1. 20 level for the First Time Since the flash crash. That happened during asian trading, so we have to keep an eye on that british currency. Yousef it is dead center in focus. That is what we can say. The british pound and the beating it got off reports that theresa may is seeking to leave the single Currency Union there to regain control of the borders for britain. This is the chart that puts it into perspective. This is a story that goes back to june 2016, every time theresa may spoke, the pound lower. Vote, then theresa may takes power, then their reaction to the speech in october, reports they will seek a hard