,uccessive weeks of gains leading to very little Risk Appetite. Have a look at u. S. Futures. That is playing out across u. S. Futures. It is also playing across currencies. Dollaryen, down about. 25 . China, the market is usually dancing to its own beat, and that is what we are getting at the moment. We are up for a seventh straight day. Well above 3000 for the shanghai composite, on midspeculation that this lack of margin debt will lead to another explosive rally. The fuel thats fired chinas market boom and bust. Policymakers are reviving support for margin trading. The state backed agency that provides funding to brokerages is offering shorterdated loans and cheaper prices. Essentially what we have seen at its margin debt is lowest level since the end of 2014 in china, and we know the shanghai composite tracks the margin trading we have seen across china. Was tryingacked fund to get this rout off the ground. It has offered shorter loans and lower interest rates. We are seeing these
Angie lau. Index futures pointing to modest yen, but it is the weaker the dollar heading for the longest rally since january ahead of the u. S. Jobs report later this week. Thes head over to korea, kospi pretty much flat with the korean yuan seeing weakness today. Closed,kets are australia, new zealand, and hong kong. Lets head back to japan. Looks set for a fresh round of economic stimulus. Local reports say the plan to supplement the bojs efforts are a done deal with some minor details needing to be worked out. David has more. David what will happen tomorrow is the existing budget is expected to become law. , shinzo abe ise expected to outline some details of this new deal. A lot of which is basically frontloading that existing budget. It opens up room this Time Next Year for japan to introduce new public works projects. Farm infrastructure, building facilities for trains, upgrading the ports to welcome large cruise ships, and trying to get ahead of inconsistent growth. ,ome other sp
Willand on hopes that abe be announcing the consumer stimulus boosting measure. Gains, prettyding good data over the weekend suggesting industrial profits going up. We are also getting news that the chinese pension fund will be channeling 600 billion funds. That is also driving sentiment a little when it comes to shanghai. The weakeningy of this is a dollars story. If the number is positive, it is going to build on the revised gp number, painting a more positive picture of the strength of u. S. Recovery and the strength of the u. S. Dollar going for it. We are seeing weakness or another have present for the 113. 59. Yen, trading at we are also seeing weakness in other currencies in asia. The south korean won is down by a 10th of 1 , easing a little bit from previously. The aussie dollar, continuing the losing streak from the past week. Data, how well the chinese economy is doing it is now flat,. This is the other reason we are seeing gains in equity markets today, and a genal positive
And government spending, offsetting a slowdown in exports. Of course, that is caused by the deteriorating global trade environment. That comes back to china. Ty a good explainer there but wow. What a story with Anglo American today. The last time Anglo American it scrapped its dividends was in 2009. Shares of 70 , today was not as. Ad, down by 11 but they are at a record low. They have sunk 70 this year. All of these Mining Companies are desperately trying to counter the slump in commodities, which as you know, they have slumped to the low was level since 1999. Anglo american is scrapping 85,000 jobs, two thirds of its workforce. Look at the shares, down by 11 . All of the miners are getting hammered today. An incredible story. We will have more on that in our bloomberg reporter in a little bit. Lets check the first word news. Courtney donohoe has more. Courtney we had two friends first. The rock band that was on stage the night the terrorists attacks in paris have returned. They made