A reaction that could further destabilize the global economy. And huawei vows to continue its campaign against u. S. Restrictions on tech. We will be hearing from the security chief a little bit later on this hour. Shery lets get you started with a quick check and how the markets are trading. U. S. Futures are down a 10th of 1 . We saw a fade in u. S. Stocks, giving up their gains after President Trump announced the executive order targeting social Media Companies. This coming at a time when u. S. China trade tensions continue to rise. We are seeing tensions over hong kong. The s p 500 fell for the first time in four days, and recent out performers, like bank and energy stocks, fell 4. 6 . Twitter falling almost 5 . We did get encouraging news with betterthanexpected economic data. Continuing jobless claims and capital goods orders providing some support. It is looking like we are shaping up to be a mixed start to trading here in asia. We are seeing for japanese futures, a little chang
Investors weighing a reaction that could further destabilize the Global Economy. President down to asias major market opens. These are our top stories trumpe for social media after his tweets are fact checked he says twitter and others are trying to silence conservative voices. Breaking news out of south korea. We are getting the Industrial Production numbers for the month of april and we are seeing a huge contraction month on month, a plunge of 6 . The expectation was for a decline of about half of that and this of course also is after gains in the previous month. Year on year, it is a contraction of 4. 5 percent. Again, really a much bigger contraction than expected. Hearing year, we are talking about the biggest contraction since the financial crisis. We have not seen such a big decline since 2009. In the month of april, and south korea, we have continued to see the restrictions over the coronavirus pandemic. Already, we are seeing a second wave of infections in south korea and talk
Economies reopening against rising chinau. S. Tensions. They prepare another budget. In theavirus controversy u. K. Boris johnsons top aide refuses to resign, breaking the governments lockdown rules. Will come to the program. Manus and yousef are still off with the markets closed for the eid holiday. We were just discussing the focus on the reopening story, rather than the tensions between beijing and washington. Forulus is in focus investors, whether thats for singapore or japan now. Feelgoodit is a tuesday, never mind the gdp targets for the year slashed, with a 7 contraction. The worst performance ever since independence back in 1965. Here is how its looking for the asian markets. Nikkei 225 up by 2. 4 . We talked about how japan will be reopening its economy. This is a state of emergency and all of the country, not just japan. Giving a boost to the nikkei 225. Surging by 5 . Up one point 6 . Consumer confidence rebounding from 11 years lows 11 year lows. Well below 100. It outnumbe
S officers says stimulus is on the way. Euro german bailout. A. M. Has just gone 6 00 in london. I am torn between the debate on whether the u. S. Chinahong kong it the backstop of central bank the narrative that drives this . Japan reopening, australia is reopening and normalizing as is the u. K. Good morning. Expectations of expansion of stimulus for june. They seem to be gaining some momentum. The market seems to be putting a side the u. S. And the u. S. China tensions. That simmers in the background. We still see this risk on an markets. And perhaps added to the story a little bit of optimism or less pessimism. Like the bailout and we getcept the news like the bailout of lufthansa. Futures pointing to similar gains that we saw in the euro stoxx 50. The 10 year treasury yields higher. Is above 34 a barrel. Iae saying demand could get back to precoronavirus levels. The number of coronavirus deaths in the u. S. Is nearing 100,000 344 global deaths around thousand. However, u. S. Presi
Party rooms, that could reopen after may 28. A mix of good news there. We have some good news in the markets as well. We are seeing more reopening of economies. It seems like you cant really fight the fed at this point. We are seeing a second day of gains in the region. Jakarta coming back from that holiday. We are seeing again of. 5 . Also, india reopened today as well. Things are looking better. Lets see what else we are watching out for. Singapore is in focus. The outlook is not looking so good. The governor is slashing the to 7 . From 4 the hang seng as well, look at that, we are close to 400 points higher today. We are talking about the valuations and the steepest discount into decades. You have seen some depth buying dip buying happening. Take a look, currencies are looking a little quiet given the fact that the u. K. Saw thin trading with the london closing yesterday. See a liquidity injection from the pboc after a hiatus of 70 something days. When it comes to the sing this a we