Debts are about 700,000. The Trump Administration dabs up its attack on chinese tech. Mike pompeo wants to cut ties well beyond just a campaign against tiktok. Alert on start with an the bloomberg. South korea announcing its surplus widening to 6. 88 billion. This is a recovery from the 2 billion level we saw in the previous month and recovery after logging a deficit in april. When it comes to the trade surplus, widening to 5. 867 billion. We have seen south korean exports slump, slowing in july. We are seeing an economic recovery in china and demand for semiconductors. Lets turn to Sophie Kamaruddin in hong kong for a check of the markets. What should we be watching out for in south korea today . Sophie we have more data coming out. Tourism revenue falling for a fifth consecutive month so the focus will be on the consumer sector. Of o have the likes reporting earnings. Consumer sentiment has rebounded for a third month in south korea and online spending will continue to be key as the
A couple of days on the holiday and we are seeing assets catching down, what weve been seeing most of this week. The csi 300 down. 6 . A lot of focus has been on the renminbi. Fixed slightly stronger, but marginally. Perhaps it has limited the volatility. Weve seen implied vol spike for the offshore renminbi. We are seeing a bit of spread between the onshore and offshore. The onshore at 7. 0 632. We are watching hong kong as we slowly return back to normal. Weve heard from carrie lam that they will open gyms, theaters, massage parlors. 123 in hang seng, up points. U. S. Futures, still heading lower and nifty futures. We will see it seems more troubled when it comes to the indian reopened. And theylot of brawls are slapping a huge tax on liquor sales too. Tom lets get more on the Market Action with Mark Cranfield in singapore. The question of the day on the mliv is how important is trade for these assets . 10 investors look past the tensions between beijing and washington . Maher it wil
Few smiles and the magic kingdom. Disney suffers a coronavirus hit with seem parks shot, movie theaters closed, and sports on hold. Shery a quick check of the market. This after u. S. Stocks gained ground for a second day in the regular session. We have sentiment being boosted as more economies move towards easing lockdowns. Still, in the last hour of trading, there were some cautionary comments on said officials that cut gains in half. New zealand stock scanning. 8 . This would be a Third Session of gains. Therir rate. Rate. Ir we have the rba leave rates unchanged. We are looking forward to retail Sales Numbers very soon and we will see how all of that toilet paper hoarding that we saw in march is reflected in the numbers. Not Much Movement for the japanese at the moment. Tosident trump continues push the theory that the coronavirus originated and escaped from a lab inside wuhan but sources within the u. S. Intelligence Community Say the intelligence is less than definitive. That as
We will look at the performance of asian makers and hear from General Motors. Lets see how things are shaping up for asian rackets. Markets. Roilings tweets are markets and the stocks look to be opening at a low. Taking a look at nikki futures, down a little more than 1 . This brings on the prospect of more retaliation. That will be way down on the. Hares of these Asian Companies especially when japan opens, we will be seeing whats going to happen between japan and south korea. We are expecting the Prime Minister to have an announcement about how they treat those south korean companies. Looking closely ahead to that as well as checking on the commodities later. Sophie thanks so much. Checking in on the terminal. Oc been numbers coming up, rounding out the three big lenders. Net income at 1. 22 billion compared to the estimate of 1. 9 billion. Allowances for loans and other assets came out at 111 million. Secondquarter growth was likely driven by expansion in interbank rates. Income was
Rishaad right, well, banks reporting out of china this week. Note onjust seen a nonperforming loans. People keeping an eye on that. This is an alarm bell for the amount of debt they are caring. Showing what 9438, is happening. Out of all of them, it is Agricultural Bank of china which is the worst. Its nonperforming loans seemingly worse. All will be revealed this week, the big four out with earnings and indeed these numbers as well. Haidi absolutely. A lot to digest when it comes to the asian open. We are getting the washer from jackson hole, more what wasnt said by janet yellen and mario draghi, the latter refraining from commenting on Monetary Policy or the strength of the euro. The dollar lower on the account of janet yellen sounding more dovish than expected. We had saber rattling out of north korea, and the big calendar when it comes to macro data. Friday, and china pmi rounding out that picture when it comes to the chinese economy. We are 30 minutes away from the open in china a