Shery you are watching daybreak asia live from new york, sydney, and hong kong. Annabelle we are counting down to asias major market opens. Haidi risk off mood in asia. Treasury yields higher along with the dollar. U. S. Crude prices hitting a fresh one year high with shrinking stockpiles in the larger storage hub spilling demand for physical barrels. In battled Country Gardens takes a step towards restructuring its debt after narrowly avoiding default. Shery how u. S. Futures are trading early in the asian session, marginally higher at the moment after stocks finished mixed in the new york session. We have the s p 500 fluctuating throughout the session, just to finish where it started the day. At least, it ended up erasing some losses we saw earlier in the session after President Biden counted Artificial Intelligence. We have the vix declining a little, still at the highest levels since the end of may. We have the nasdaq 100 outperforming today. We saw treasuries slumping again today.
Going forward, we see better days ahead. Rishaad the Imfs Christine Lagarde looks forward to the year to come. This region, asia, is going to continue to be a Global Growth engine. Rishaad it is all straight ahead on this special edition of bloomberg best. Rishaad hello and welcome, im Rishaad Salamat on this special edition of bloomberg best. We look back at 2017 in asia, revisiting the years most interesting interviews with newsmakers, policymakers, and leading figures in business. Lets start with Stephen Engles indepth conversation with alibabas jack ma. We were granted rare access to him in his headquarters in china as the companys celebrated its 18th birthday. Alibaba has enjoyed massive growth in 2017 and a rapidly evolving ecosystem of Chinese Technology companies. Jack ma spoke with Stephen Engle about competition and regulation in this new environment. The speed of the internet era oftentimes blurs the line of regulation, and you push the boundary, push the boundary, and then
Welcome to countdown. Its 6 00 in london. Another day, another story out of china lets start with the chinese equity markets. This is a picture of the shanghai composition, your today. Shanghai compensate, your ear to date. What have we lost so far on this Chinese Market . We have lost 3. 9 trillion worth of value in less than a month. Such is the level of trading halts we are seeing on the Chinese Market. The latest government headline is being described as an act of desperation. Lets talk about the u. S. Equity markets a number of issues. We saw the u. S. Equity markets fully open for the last hour of trading. The nyse suffered a threehour trading hold because of the software update. Other trading was open all the way through the afternoon session. Still, amazing developments we will come back to that. The fact that we saw the fed concerned about greece in china, that weighed on stocks. Lets talk a little bit about what happened in the Asian Session today. Chinas stocks are up and tr
Policymakers say they want to stab the stock market route. We are seeing optimism, shares shipping on the prospective deals in the space. Well get you more details on that as we receive them. Region, i doubt day across South East Asia is on holiday today. They celebrate the 50th anniversary, and we wish them well in the lion city. Malaysia, some challenging times. Selloffl risk showing a , Foreign Investors get on the market. Keep an eye on the market. Vietnam giving us a little reason to be optimistic, and the philippines, Philippine Airlines is a key member, as it executes its turnaround. Rishaad thank you. Policymakers to boost stimulus after that weekend ada. Ande than expected demand Stephen Engles with me now. How bad . There was a lot of euphoria in the first half with the stock market bubble. Asking thewas continuing weakening of demand. Imports were bad, exports were bad. Cpi is pretty tepid. Ppi, the biggest decline since october 2009. These are wholesale prices. Ppilast infl
Rishaad asia stocks under pressure, but Global Equities are at record highs. Lets bring up chart 5892. Ly is all amid this extreme low volatility. It is the worlds best regional rally in turquoise. The 60 day volatility in the white line has dropped 5. 9 to the lowest since 1988. In line with u. S. And europe, and the vix markets hitting new lows. The calm, but no storm, at least for the time being. Pause. May be a muted at lofty highs when it comes to emerging markets in asia, japan in particular. I dont think you can blame investors for taking a breather. Lets get it over to sophie with 30 market reaction. Sophie we have corporate earnings perhaps giving impetus to profit taking for japanese investors given those highs. Leadingei 225 benchmarks in asia lower here it asian stocks falling for a second session. I want to highlight the currencies space. The korean won leading losses as importers why dollars. B. N. P. Paribas says it is better late than never to buy the currency as cyclic