Im melissa chan welcome to news asia the government of indian Prime Minister Narendra Modi has approved a pair of bills that would change the way farmers do business in the country and that has triggered protests among them and among lawmakers from the opposition and even the government indias minister for Food Processing resigned last week in protest against the bill. That. Protests on the streets of delhi an outpouring of anger over a new farm bill that many see as anti farmer. Opponents of double edged black law and say it was rushed through Parliament Without proper debate and consultation was 7 originally we had protesting the way the government passed the phone bills in such a dictatorial manna modis claim of being a supporter of farmers has now proved to be hollow it was about time was drugged sundays vote in indias upper house of Parliament Spot chaotic scenes 5 was m. P. s shouted slogans against the bills forcing several adjournment was others tore up copies of the legislatio
Japans ruling party gets set to pick a new leader. The next Prime Ministers have a tough task of leading the nation after the pandemic. Shery lets get you started with a quick check of how markets are trading. U. S. Futures up. 4 . This of course after tapping the worst week since march. We continue to see the selloff and idiosyncratic news. Softbank changing options Investment Strategy leading to selling picking up any friday session. Not to mention the tech stock reversed gains after china said it opposes a fourth sale of tiktok. We have the nasdaq composite really under pressure in the u. S. Session on friday, down. 6 . Take a look at what oil is doing because we are coming off of its back its worst back to back weeks since april. Nothing on oil prices, tomention concern about opecs production compliance. Wti at the moment at around 37 a barrel, gaining about. 5 . Lets get a quick check of our asia of how asia is setting up. Sophie we are nearing the halfway mark for september and t
Country out of its worst economic slump in decades. The deadline draws near for tiktok to divest it u. S. Assets, reports a shutdown of its priced app for sale. We have breaking news. Oftbank will be selling this as bloomberg learned softbank was trying to strike this deal that could be valuing it at 40 billion. Arm, weis deal to sell could have seen softbank reviving those stocks about taking the group privates. We are hearing that softbank divisionelling its arm to nvidia. This would be a 40 billion deal, the biggest chip deal to date. The transaction value is up to 40 billion. Nvidia could be paying more than 21 billion in stock and 12 billion in cash. This would be a 2 billion payment as signing. This coming at a time as we continue to see softbank divest its assets. Softbank could be receiving an additional 5 billion of cache if the performance meets certain targets. This also depends on what regulatory scrutiny they go through. This could be the largest ever in the semiconductor
Nasdaq features are pointing higher. Stock coming off of that two week losing streak. Recoveringmed to be with a steep selloff last week. Moderately higher in china. Tech names seeing some dip by. Take a look at what we when it comes to currencies. We are focusing on the euro strength, paired with the weakness. Not really doing a lot. 682. Ng around about the Central Banks autonomy. We are watching the yields, pretty much flat. Yields are moving lower in the likes of australia. , probably brings us back to the highest that we saw in 2019 with home prices increasing and retail sales as well. Positive sentiment. Outstanding gains. Lets get to the first word gains. We start with the global coronavirus case is nearing 29 million. Canpe is now becoming a turn again. France also reporting more than 17,000 cases over the weekend. , Oxford University and astrazeneca have restarted trials of the vaccine after they were halted over the unexplained illness. Says ale, the ceo had similar timeline
Japan. The powerful stotorm is expecte to approach the southwestern part of the country from sunday through monday with nearly its full force intact. Translator it is necessary to fully consider the possibility that the typhoon will have a bigger impact than weve ever experienced. Its the second major storm to hit in a week. Typhoon maysak brought heavy rain to the kyushu region earlier this week. The storm left at least five people injured and hundreds of thousands of homes without power. A search is underway for the crew of a cargo ship. It was sailing wednesday morning when it fell out of contact. Of the 43 crew members on board, one has been rescued so far. He told rescue workers that an engine malfunctioned and made it unable to cruise and the ship capsized when a wave hit it from the side. The storm system barreled across the Korean Peninsula inundating hundreds of homes achd leaving one person dead. South korean Officials Say they recorded more than 1,000 mill meet ergs of rain