Stay updated with breaking news from Hong kong. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
blooming philippine market running out of steam. me on twitter. markets in hong kong getting under way at the bottom of the hour. malaysia just coming online. a is about the pound, recovery, the biggest plunge since the brexit. the pound just plunging, as much as 1% one point. the big question, what happened? because of sensitive worries about a possible hard brexit. first we heard from mitsubishi, this drop could be treated as a wrong order. of course, we saw a plunge, and it is retracing those losses. now we are hearing from dealers that it was a failure of the algorithm, that things got worse because liquidity disappeared and we saw those deals not being able to load the bids on their platforms. and in the over-the-counter market being triggered, 1.23. , a cap tradersy theept traders japanese yen against the dollar was not even moving. that is not the case anymore because it is strengthening .25% for the first time in nine days, reversing eight days of a recess and ....
against russians deployed in the area. by consensus, the united nations security council today formally nominated antonio guterres to be the next secretary-general. he spent 10 years as u.n. high commissioner for refugees he said he wants to serve the most vulnerable. the victims of conflict and terrorism, the victims of the violation of rights, the victims of poverty and injustices. the 193-member general assembly is expected to approve his nomination next week. global news 24 hours a day powered by more than 2600 journalists and analysts around the world. bloomberg technology is next. emily: i m emily chang, this is bloomberg technology. social media star snapchat may be getting ready for the public market. we will bring you up to speed on what we know. plus, does anyone want to buy twitter? shares fall 20% on news that prospects for a deal are falling apart. and a rare interview with the founder and ceo of china s didi, how he won a care for and took over ube ....
i m anna edwards. manus: and i m manus cranny. algorithms abound in the market, smashed down 6% at its worst point today, but that is nothing. on the brexit day, we dropped by over 8%. we dropped by 6% and saw it come back to a decline of 1%, standard deviation. there they are. this is one standard deviation, two standard deviations. has dropped by approximately one and a half standard deviations. goldman sachs says there has been a big psychological break. that break of 120 changes the dynamic. on one platform, it traded down to 113.78. hollandether francois had something to do with it during a very low volume period of trading, that is something to consider. let s start the risk radar around the pound and show you how we are recovering. the pound was selling against a number of currencies, not just the dollar. we have recovered a bit, that we are still down 1.5% against the u.s. dollar into down by 1% against the euro. we have seen is essential move, or the great brit ....
plunge in the pound since the brexit referendum with traders saying the slump exacerbated like computers initiated sell orders. david: let s bring in guy johnson from london. exactly what happened? midnight and london, liquidity light and everybody asleep and suddenly this happened. we dropped like a stone. data shows we got to 11841, some platforms had a 113 handle and the bit off a spread blowout 250 times what it normally is. normally this traits on a wafer and it got blown out. what caused it, we do not know. like liquidity, a combination of alco s and maybe fat fingers causing this to happen. it has stay down. it found currently trading at 123.66. jon: you can see how tightknit is. tight that is last night tight that is. what was bigger, the flash crash over the week, talk about the fundamentals and how nervous people seem to be to buy into any seller of sterling. the icing on the cake was the event that the cake has been a very difficult week for sterling. we ....
those comments coming up throughout the show. silicon valley star aaron levie talking about why he is supporting hillary clinton, whether his company could be a takeover target. we are continuing to follow hurricane matthew causing devastating damage in haiti. we will take you live to florida and georgia to look at how businesses are preparing to weather the storm. let s look at other industrials getting hammered. bob pisani tracking the action here on the floor of the exchange. honeywell is one of the main reasons that the overall market is weak down 8%. we have a big industrial like that down 8% on very big volume it weighs on the rest and has been a weight throughout the day. what is the problem? they lowered the 2016 guidance. it talked specifically about problems in the aero space saying foreign defense made the markets more difficult. they specifically talked about business engine sales hurt by soft energy sales and anti-luxury campaign in china. this is t ....