One progress review should happen soon. More signs offers china strengthening rebound. Sales jumped by one third last quarter to 22 billion. The company insists it is no threat to u. S. National security. Lets take a look at how we are shaping up on this final friday session of the day. Lets get over to sophie he was taking a closer look. What are we watching . Vibes coming through with futures largely higher. We could see some weakness in korea following the drop that we saw for the kospi. On the docket today were looking at cpi from japan. Nikkei futures move slightly higher this morning, while the yen is trading below the 106 handle. Pulling up the chart on the terminal, we are watching to see if tech will bounce back in the region after thursdays selloff which saw the kospi with a big loss and the worst day for the regional tech index since march. Samsung took a hit on the south outlook for to prices. Prices. Outlook on chip potential hits on huawei and delayed 5g. That could hurt
All report Record Numbers of daily deaths. We are getting set for samsung results. We will find out how the pandemic has hit south korea smartphone makers later in the show. A look at how we are shaping up this thursday session. We will start with u. S. Futures. All eyes really looking at the fed, looking at jay powell. He said this is particularly the biggest economic shock in memory for the u. S. Prospects for further monetary stimulus, just incremental progress when it comes to negotiations, more fiscal stimulus, i should say. Chicago nikkei futures looking unchanged. It is a massive earnings day in japan, expecting results from hitachi, panasonic, as well as waiting on japanese retail sales. Retail sales coming out of hong kong later on. That is expected to be another grim picture. The yen, wonderful 97 is where we are. Steady below that one of five handle, the dollar coming under pressure from that super dovish fed and the dovish comment from fed chair powell. 41. 37, getting that
Board, again, trying to challenge the tesla hold on the market. Wm has a factory in shanghai. Lets check the markets. Risk off on the u. S. , falling 2 on wall street on the back of concerns about u. S. Jobless claims. The virus, above 4 million cases now in the United States. And as we said, concern that the economy in the u. S. Is in trouble. Screen, read on the broadly across the msci asiapacific, down. 6 . On the mainland would just talked about the proposed ipo by wm motors, small caps setting off more than 2 as we get for the end of the week. Ong kong looking attractive to investors, it seems, down. 2 percent, up despite concerns highlighted earlier. Weakened byyuan. 1 , currently around seven in terms of the offshore yuan. The aussie dollar and the japanese yen, looking at that as well, the 10year basis point, 58 for the 10 year as a result of the risk off we had at the end of the day on wall street. Chinese, 2. 91. Gold at 1. 46 in terms of the goldsilver index, and philadelphi
Actually, if people are lawabiding, they never think about endangering National Security, there is no cause for concern whatsoever. Is if therelegation is a National Security law in hong kong, the law should be enacted in hong kong by the Legislative Council. It should not be happening in beijing. The Hong Kong Government has been kept in the dark and the process. Again, this is wrong. Firstly, this is a national law. Of course if it is International Law it will have to be decided how to enact the law. Now, basic law states clearly that for matters of national , thise or Foreign Affairs is a matter for the cbg. No one would question that National Security is something outside the high degree of autonomy. Its a matter of sovereignty of the country. 18 after basic law, theres a process that allows National Laws to be added for implementation through hong kong through a specified procedure. The third point is the political reality. If you believe given the current political reality, given
15,000. Take a look at the kospi. We are focused on samsung earnings. Samsung warning of a profit slide as this virus squeezes the tech industry. Samsung shares largely after the results came out unchanged. We are watching out for the singapore jobless numbers coming out this hour. 2. 6 , an 11 year high. We see this recovery momentum coming back in offshore chinese stocks. The moving average yesterday when things close, and we are higher here today. Bank of china among them. Dollaryen, a little strength. And some strength for the korean won. Oil remains the story, but take a look at volatility. When it comes to oil contracts, we are leapfrogging of june to july and seeing wild gyrations. We have bounced back after wti auched 10, but we lost quarter of the value when it comes to crude. It looks like volatility will continue. Into julywill roll with the spread of the june and july contracts especially for wti getting rocked by volatility. Tom we will get more on that story in a few minu