The australian treasurer says the Budget Surplus is now by no means certain. In the absence of u. S. Markets being online on account of the u. S. Holiday of Martin Luther king day, lets see how things are shaping up in asia. It looks like asian stocks are set up for an even open after the cosby closed at nearly record highs. 0. 3 right now. It looks like jitters in the oil market last week, we saw the signing of the u. S. China trees deal bolstering markets. Trade deal bolstering markets. Well see how markets are impacted by the sarslike virus that originated out of china but now sees cases in japan and south korea. The fund is predicting the World Economy will strengthen and 2020 but at a slower pace. On the economic calendar, we will be looking ahead to taiwans fourthquarter gdp data. Expecting taiwans economy to have grown. Japans of the bank of monetary policy, they are all expected to stay pat, after the fiscal stimulus. Officials may be looking for a slight uptick in terms of tho
Increasing pessimism about growth. More ceos than ever see a slowdown. Sophie chinas mystery virus is spreading through persontoperson contact. Hubs stepping up passenger screening. Lets turn to selina wang in beijing with australian markets coming online. Selina we did see australian markets red hot. We are now starting to see them drift slightly lower, marginally except for the new zealand up. 2 after gaining 3 since the start of this year. We did yesterday see the equities hit record highs when it comes index price and private equity valuations. So, that would be enough to ring bells in normal times but our strategists say that macro backdrop in australia is dire enough to call this rally into question when you consider the massive wildfires that are damaging their economy. With increasing focused on environmentally sustainable investing, that rally is potentially at risk. I want to check on that a little bit more with this next chart. Thelook at that rally in context of the u. S. C
The hang seng at the moment. The two thirds of 1 . Lets look at what is going on with the nikkei. Market, we are seeing a move to the upside. A case of bad news and good news. Indicating they could institute Interest Rate cuts. Lets get to the other asset classes. This is where we find ourselves at the moment. It must have been quite a meeting between the fed chair powell and his boss, the president. It must have been. A yield to that has barely been budged in. We have been seeing them lurch higher. More uncertainty in the haven buying. Pence against the euro. That is sterling moving to six month highs against its european counterpart as the threat of a hard brexit recedes. Aussie dollar moving to the downside. Just under . 68 u. S. Where it istuation to the downside potentially. Theyof many are saying would not be surprised to see a 66 handle in the nottoodistant future. Then we have the Violence Center stage in hong kong. It is continuing. That continues to be our top story right now
Dependent. Lets have a look at what is going on with some of the moving parts in some of these assets. The 10 year yield was going up to 2 , which could signal all sorts of things regarding the economy and the u. S. Economy. And expect through the fed to be moving for the time being. The japanese 10 year yield has been on a tear. Bonds have been following. The bond market coming back a little bit. Up to the zero level. This is the hang seng Property Index in lieu of the Property Price numbers we had out of china. Higher at the moment. About 6. 7 so far. Looking at the idr as it strengthens, we do get trade data that you give us a single how a signal how indonesia is bearing the winds of commerce. Lets go across the world and get over to new york. Su keenan is there. Start with hong kong, which faces a fifth week of disruption as protesters step up their campaign a the business district. The unrest is hitting the economy hard. J. P. Morgan chase and they caved a pacific are the latest t
Talking about how they strongly condemn radical violence against it. David it is a vicious cycle for the last weekend especially. To put some contacts into what she said, shop set to close. The Transportation System had to shut down. You understand why people are in way or saying home and why shes come out with more support measures. Right now, these are life pictures. She is taking pictures. The chief Executives Office with a press conference. To reiterate some of the line thinner come out. Were getting numbers on visitor arrivals. Yvonne we mentioned the drop of 50 in the first week of october. 15 . Ang kong may issue into recession in the Third Quarter. Taiwan saying the government will not interfere in hong kong protest. There has been speculation about stair influence prettily from taiwan. They seem to be bringing down those rumors of morning. From aet some analysis citigroups Global Market economist joining us in hong kong. Up localou gauging fallout, the economic fella in Hong K