Itsco prepares to make trading debut in riyadh. Reports say it is considering a secondary listing in asia. I want to get you to some breaking news out of new zealand. We have a fiscal update for you. They are cutting the Budget Surplus forecast. It now sees a budget deficit in 2019 and 2020. And smaller updates after that, specifically 943 million deficit. This is a previously forecast billion dollars. Returning to forecast the following years, but only just. Forecast was for 2. 1 billion. Growth of 2. 1 seeing a sharp wasward revision from what previously forecast as well. 2020 is an Election Year from new zealand, too. Just some headlines there. Thats get straight to the Market Action with Sophie Kamaruddin in hong kong. Sophie lets kick off with tokyo. Topix withand divergence. The end is Holding Steady. A bunch of event risk including the u. K. Election and the upcoming fed decision in hong kong with that tariffs deadline on sunday. A 10 year yield hovering around zero. Lets switch
A business live from berlin wellcome starting with asian markets edged up to day but investors appear to be taking their foot off the pedal after the recent trade deal fueled a rally hong kongs hang seng index climbed just around north point 4 percent today shanghai blue chips was steady as beijing trimmed another short term Interest Rate that china has an Economic Growth target for this year of between 6. 00 and 6. 00 and a half percent for the 1st 3 quarters it was sluggish with growth just above beijings bottom line. So lets stay with china for a moment and bring in our correspondent in taipei its own hans sure so good to see you peace love to 6 point to 2 percent in the 1st 3 quarters of beijings bottom line of course is 6 percent something of a symbolic number in china can you tell us more about that. Well the g. D. P. Growth 6 percent is chinas target this year and according to analysts china will be able to meet this goal but it will be more difficult to do so in 2020 because of
Climate change. Boeing brings its failed spacecraft, at the end of a difficult year for the company. Get you started with a quick check of the markets. The u. S. Session on friday, markets wrap at record highs with the dow seeing its biggest gain in a week. The s p 500 seeing the biggest weekly gain since september. We had health care and tach leading the gains on the s p 500. Strong consumer numbers out of the u. S. Gave the market a boost. We are setting up for a Holiday Light calendar this week. Most stock markets across the world will be closed on december 5. We have u. S. Newhome Sales Numbers to look forward to on the monday session. Lets see how we are setting up for the asian markets. Sophie after a lackluster friday, we are mixed this monday. They were going to be gauging reactions to reports that japan has eased export controls to south korea. Lets check in on aussie bonds at the start of cash trade. We have the aussie 10 year yield rising back above 1. 3, the highest level s
Forot of games from gains the conservatives. They are making ground in the north of england, the midlands, and wales as well. These voted heavily for brexit in 2016. They are putting that vote in the conservative box. That is where we are standing on the exit poll. They are taking seats may have never taken before. It is like redcar, a lot talked as target seats now turning blue. A lot of them former mining areas that historically are very averse to the conservatives given the thatcher period. That frees Boris Johnson to do a lot with brexit. The red wall turning blue. We saw the conservatives take eastbourne from the liberal democrats. We are about halfway through election night. Rishaad brought gains for equities. Sterling notor only against the dollar, but the euro. On top of that, we have this trade deal. A punitive deal President Trump has signed. China correspondent and coanchor Tom Mackenzie has the latest. Tom they have agreed, the two sides, on phase one of the initial deal. P
Now on bbc news, live to singapore for Asia Business report. The supermarket giant halts production at a chinese factory over claim prisoners were full to to work against their will will. Why india is becoming a stop off for major artists like u2 when they go on tour. Good morning and welcome to this monday edition of Asia Business report, live from singapore with me, mariko oi. Lets begin with allegations of falsely labour because british supermarket chain, tesco, has decided to suspend production at a factory in china after a six Year Old Girl from south london found a message inside a christmas card, allegedly written by prisoners in shanghai. The message said, please help us and notify Human Rights Organisation dobbie Katie Preston has more. It was 6 Year Old School Girl Florence Widdicombe whod sat down at home to write christmas cards to her friends and family when she discovered that one of the cards had already been written in. We were writing in them and about on my sixth or e