Major market opens. Paul australia has just come online. China ramps up aid for the economy, a higher budget deficit ratio and asian risk assets, in addition to easing treasury yields, trade is also mixed. Plus, japans biggest listing since 2018. Annabelle what i want to point out is that the Australian Market is sensitive what happens in china. New support measures coming through, Stephen Engle is here and well go through all the details in just a moment. This is an economy very reliant on what happens with china. The Golden Dragon index, that is the last close for that because it tracks u. S. Stocks around the chinese stocks listed in the u. S. But that was the best data we saw since the end of july. Just gives you an indication around how much investors are liking the latest support measures. Were also watching in the aussie session, the inflation focus in particular because we have cpi numbers in the next hour and the handle expected to take down, about 90 minutes from now. China i
Good morning and welcome to daybreak australia. Im paul allen. In about im annabelle. Cutting down to asias major market opens. Shery the top stories this hour, investors way mixed corporate results. Microsoft jumping up your First Quarter Sales Top Estimates while alphabet sinks as cloud avenue paul chinese stalks, lawmakers raise the deficit ratio as xi jinping makes his first visit to the central bank. Shery china removes the defense minister ending speculation over his status after disappearing from public view. Take a look at how u. S. Futures are coming online. Downside after stocks rebounded ending the longest slide in 2023. Corporate earnings and really a little bit of a push up because of forecasts from verizon and ge in a busy week, 15 trillion dollars worth of companies reporting. Treasuries were mixed. 10 year yield edging higher following intense volatility on monday. The bloomberg dollar index rising for the first time in four sessions, u. S. Business activity picked up i
Shery you are watching daybreak asia live from new york, wellington and hong kong. Annabelle australia has just come online. Haidi asian stocks are set to follow wall streets gains in an effort to contain the israel hamas conflict. Israels defense minister warns of a long war as Antony Blinken returns for further talks. World leaders arrive in beijing for the belt and road forum. Facing an uncertain future as the economy slumps. Annabelle we had the open of a sx starting the day. The focus is on currency because we are keeping an eye on the aussie and kiwi dollars. Near lows against the greenback even though we saw a softer dollar in the prior session. Weve got rba Meeting Minutes due out later and that well plus understand why the new governor elected to keep rates on hold in our first meeting as chair. We had new zealand inflation data for the Third Quarter that came in softer than expectations, so it boosts the case that they will keep rates on hold at the end of november. And cut i
Red. All sectors seem to be in the red. It is finanis, tax space, energy as well oil prices below 90. The higher for longer eario is sinking in. We are starting to feel it. Hongkong, back online. Rishaad we are from hepeak in january, the hang seng down 23 year to date. Carnage taken place for equities as well. Lets take a look at thailand. The dollar again appreciated and against the bought. Appreciating against the currency. The nifty down as well. They had a public holiday. Looking at what we have in terms of australian assets. The decision is coming. The 10 year yield the rba governor michelle bullet text the rain for the first meeting. Yvonne dollaryen, getting closer to 150. We will see if we see anymore action. The 10 year yield still holdng. The aution will be one to watch at the bottom of this hour. Given the tumultuous selloff that we are seen across fixed income markets are what sort of demand will we see today . That is the question. Rishaad indeed it all comes against the
Paul good morning and welcome to daybreak australia. I am paul allen in sydney. Annabelle i am Annabelle Droulers in hong kong. We are counting down to asias major market opens. Shery good evening from bloombergs World Headquarters in new york, i am shery ahn. The top stories this hour. The treasuies rout intensifies and stocks struggle is hawkish ed messaging raises beds and another fed hik. Also ahead, jp morgan ceo jp diamond jamie dimon lays out his risks in our exquisite interview. There factors that would drive it higher than where it is today . A 10 year bond at four. 7 . Yes. Shery it is decision date for the rba, with economists expecting a hold with the first brit from their new governor Michelle Bullock. Take a look at how u. S. Futures are commandline, muted after star struggled for direction during the u. S. Session. We saw the s p 500 clawing back most of the lessons of the day just to finish unchanged. The nasdaq 100 actually outperformed in the new york session despite