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taiwan has its first female president. it may all come down to what she doesn t say in her inauguration speech. these are live images from the capital. oflet us know what you think our top stories. follow me on twitter @rishaadtv, and use #trendingbusiness. china markets underway in 30 minutes. let s take a look at what s going on out there. markets have turned positive in the last hour or so. we had a weaker start, but things are looking up. new zealand down by a quarter of 1%. we are processing the reaction to the fed saying june remains alive event. the s&p 500 wiping out its gains for 2016, falling the most in seven weeks. taiwan online. malaysia pretty flat. cpi numbers out of malaysia later on at noon hong kong time. gaining 2/10 of 1%. , fairly stable, trading at that 110 handle. up about a225 is 10th of 1% as well. the retracement in the u.s. dollar gives a boost to oil prices and commodities. taking a look at the movers of the day, it is about the energy names. ....
a-share market in shanghai. we saw transit companies under pressure on friday. we are seeing export company sold off today as well. .2%. down doing better than the morning session, but it is a solid session in japan, up .8% as we see the yen weaken against the dollar on reports that shinzo may beales tax raise delayed. australia, pretty flat with a mixed bag in terms of commodities. the philippines up .6%. we have been watching these up .7%n the telco space, on the open. having a look at the offshore renminbi in terms of currency, the pboc has weakened the yuan fixation to its lowest level since february 2011. we can see a little weakness in the offshore renminbi, down by .2%. the weakness coming through in the yen as well. japanese equity is holding at its lowest level in a month. elsewhere, we are seeing the won and emerging-market currencies being sold off against the dollar. this is playing into the kospi, but really a story of dollar strength. the market is trying ....
consumer sales in japan showing slight improvement. shinzo abe considering postponing the sales tax rise. 0% growth, this is a beat. this is a beat when you are flat numbers on month. ago, we saw an optimistic message on abenomics. g7, he was grim when it came to the global economy, and these retail sales not looking good. we are still in negative territory for on year figures. flat, month figures economist expecting a 6/10 of 1% drop. now slightly back on the downside. more evidence about possibly another stimulus, a postponement in the sales tax hike. haidi: is that the only option remaining? what s going to happen? more people joining in this conversation, and aide saying japan needs to hold off to sustain its recovery. we have no other options, he said. this is after we heard that warning coming out of the prime minister. this is signaling that he is going to be possibly pose putting this tax hike. i hate decline in revenue that would threaten the goal of abenomic ....
retreated on friday from the seven-month high after data showed that u.s. hiring fell to the lowest in him a six years in may. the dow jones industrial and nasdaq also fell. we are counting down to the open in australia and japan. futures in australia looking like this, a slightly higher open. economists are expecting the rba to keep interest rates at 1.75%. , whereet over to japan the latest gdp numbers come out on wednesday. futures trading in chicago pointing to a lower open. 6.72, it is pretty strong against the u.s. dollar ahead of brexit. .wo markets to tell you about u.s. treasury secretary jack lew says china is moving in the right direction on the yuan, but needs to improve its monetary policy communication. he spoke to bloomberg in beijing where talks are due to start later today. tom mackenzie is there for us. what exactly did jack lew say? good morning. the u.s. and chinese side will be meeting in a few hours on the outskirts of beijing. it was a wide rangin ....
i will have more on the market movers shortly. angie: president she jinping says china and united states should talk more often to build trust. he also said the pacific should not be a battlefield for competing views. we have our china correspondent standing by live. a mainly positive message from the president? not too much detail, you do not expect too much detail at events like this and opening addresses. the tone, the words about cooperation, greater can medication between the two sides when it comes communication between the two sides when it comes to the issues in the south china sea. a dialing down of some of the bellicose rhetoric you hear in some of the state media. it comes after some close calls jetsy between two chinese that intercepted a u.s. spy plane. building a great wall of isolation. president xi thanked peace and said peace the vast pacific should be a stage for inclusive cooperation, not an arena for competition. john kerry also addressed so ....