Rishaad this is what it is looking like for equities. No trading in hong kong. It is a public holiday. Looking at active futures for the chinese market. Overall asia is feeling at down 3 10 of 1 . We do have many investors taking the opportunity not to go to work as is the case in hong kong where they have no choice. S p futures on the way up after the deep losses we saw in the session friday on wall street. Looking at the nikkei 225 coming off the lows of the day. Action there, political in part. The ldp may have lost a special election seats. That would be a blow for the unpopular president at the moment. Looking at the bond picture, yields where they were we still on friday. Japanese 10 year yields grinding to the upside up to 85 basis points. Wti off as the middle east situation seems to be simmering. Perhaps the calm before the storm. 70 five cent move to the downside for new york crude. A lot is going to be contingent on what the bank of japan does at the end of the month. Haidi
Haidi you are watching daybreak asia coming to live from new york, sydney, and hong kong. Annabelle we are counting down to asias major market opens. Shery australia has just come online. President biden wraps up his trip to tel aviv signaling full backing for israel and supporting its claimed that Palestinian Militants were to blame for the gaza hospital blast, but fails to come concerns of a wider conflict with asian stocks falling the slide on wall street and investors digesting big earnings with netflix surging after posting the best quarterly subscriber growth in years, while tesla dipping after missing estimates. Annabelle this set of earnings, geopolitics are the two main things we will be tracking through the session today but we have the open of the asx 200 and you can see the direction in the early moments is clear with the drop in futures pointing to losses of 1. 2 so we will wait a few more minutes for it to come fully online in the session but really what we are monitoring
Rishaad japans recovery on track, growing for a fourth straight month, the best performance since 2008. Investmentaba the to in chinas largest hypermarket chain. Rishaad we started with the markets. 6647. S a technical chart it is showing a double top formation. Msci asiapacific index slipping from last monday to friday, halting a rally that had lifted 6 . The asian gauge risk of a p technical pattern, which means the path of least resistance would be to the downside after it hits it. Fatigue, ifse of nothing else, creeping into the markets. The u. S. Session, thanksgiving towards the end of the week, and in asia, a loss of momentum of the that continuation japanese recovery story taking place. This week is all about centralbank minutes, the ecb, rba, and the fed. Four for rate hikes in 2018 supported by the october minutes. David im looking at the wti screen to show you the nuts and bolts. Sophie the kleins for the despite25 and the topix trade data indicating the best performance now
Kong. The pace of tightening is critical with risks on all sides. Janet yellen does not want a boom bust economy. Rishaad correction, what connection correction . Last week was a harbinger of something, turnaround, but that does not look like the case this morning or yesterday. Lets have a look at btv 39. It feels a bit like 1999. Is it . Market bears try to draw comparisons between todays bull market and that of the late 1990s possibly are wrong, could be wrong. There is a reason behind the link being unwarranted. Market graft is alive and well. More than 70 of s p 500 members have been advancing. Research partners wrote a note on tuesday that this was not the case in 1999, when less than half of the s p 500 saw members rise. Before the crisis, 50 of stocks ended the year higher. What we have is market breadth. That could bring solace to some there. Ut there bulls out what about the situation here in hong kong . A hairs breadth away from the psychologically important 30,000 level. Let
Rishaad what an afternoon it was, just one gentle slope all of way down to record a loss 3 . Let us put this into context. The csi 300 benchmark in shanghai, shanghai shenzhen stocks. What happened to that beijing that is what investors in china were asking themselves after this date of largecap shares plunged, rattling the market, one which has become rishaad margin debt below the bubble peaks, has been increased seeing for six straight months. A lot of investors nursing their wounds this morning. Haidi. Haidi absolutely. Getting the Bigger Picture look. Coupon that before 2015. A 3 jump or fall in any of these chinese indices was almost a calm day. How farteresting to see it has, and how little volatility we have had from the worst in 2015 until now, so we are looking ahead to the shanghai and hong kong open, taking a look at how sentiment worsened and if it provides a little bit of support. A lot of analysts saying there is no point in them going in right now because it will make no