This is the second hour of daybreak asia. Im yvonne man in hong kong. Its just after 7 00 p. M. In new york. Im betty liu. This is Central Banks week. The boj is just hours away from hearing what they have to say about monetary policy. Then we have the bank of england and also the fed. We will see how markets are paying attention to Central Banks. Yvonne how big of a narrative going toj, the fed have . We see the Political Risk being priced into markets a little bit more, given the backlash weve seen from trumps travel ban. Lets get the latest. In asia witho far stocks following wall street lower amid trumps comments which have put investors on alert. Japanese stocks falling over 1 year. The kospi coming back online lower 4 10 of 15. Lets check whats moving on the of 1 . Lets check whats moving on the nikkei 225. Given the yen movement, take a look at whats going on in the export space. Elsewhere in the region, stocks lower. N wellington and sydney materials and energy dragging on the
From the asiapacific to new zealand we are seeing losses this hour. Lower on that1 disappointing chinese data. Retail sales. Right now youre seeing a decline in about one third of 1 . Also counting down to the openings in australia. Futures are pointing to a slightly lower open. Plus including being in the second cut from the royal bank of australia. Dropping to record lows. After that chinese data over the weekend. Lets get over to japan tracking futures trading at chicago. We are seeing signals pointing to a lower opening on monday. Japanese yen is still range bound. Watching out for Producer Prices for april. We will break that to you when it comes. Is the story disappointing data from china over the weekend that highlights the challenge facing policymakers trying to reform the economy and cut overcapacity. How bad do things look . In march we saw a slew of positive data. Some would say this is a corner has been turned. The reality is that industrial output and production and retail
Singapore. Singapore sang it is the worst case of gross misconduct it has ever seen. Hong kong the worst sales downturn in 20 years. 2016 are being described as icy winter. Do follow me on twitter rishaadtv, and use trendingbusiness. Well, getting to these markets at the moment china and hong kong getting underway. Singapore with gdp figure stronger than anticipated, reaction as the market opens along with taipei and kuala lumpur. We are seeing a broadly up day when it comes to the asian markets, tracking the gains in the u. S. Session. It is a confluence of a positive , oil gaining, yen weaker, risk off the table. The prospect of a u. S. Recovery looking brighter giving the surgeon home sales overnight. Given the search in home sales overnight. Sydney getting a lift from a rally driven by energy stocks, some refiners and basic minors. Miners. With gains, up eight tens of 1 , a very good week. Has settled down after selling automatically, a mass accidents out of the korean bond market,
Manus and im manus cranny. The pound is in pain. This is what you are looking at, a 31 yearback at low. This just gives you some of the posttraumatic stress in the market. There is no end in sight for the pound, on the downside. Go to bloomberg first word and find out, where are the levels . Mind the gap. 1. 30, we have broken through. A 1985 low. I am not making that call, that is the statisticians call. Median for the end of the year is 1. 30, that is from the bloomberg survey. Anna clearly, mark carney, and others in the market, have become about concerned about commercial real estate in the u. K. Lets start off with the risk radar. Remember, a number of markets in asia are closed because of ramadan. The asianpacific is down by 1. 7 . Yield,year japanese bond 0. 01. That went negative for the First Time Ever in todays trading. 1368, that is where we are on the price of gold there, up by. 9 . High and weo year are near a sixyear high in open interests on the gold exchange. Chinese da
In sydney. Im Annabelle Droulers in hong kong. I am kathleen hays. Conscious sentiment as traders recalibrate rate hike expectations. All major u. S. Indices had their worst months since june. The cleveland fed president makes it clear she does not expect the central bank to cut rates next year. She says they need to be above 4 . Australia holds a economic summit in canberra. Now, august is ending with a whimper rather than a bang. The likelihood of a fed visit pivot is embraced after the jackson hole speech. Jack josh jay powell gave a very hawkish message. Look at the futures. A little rebound here. Not surprising. It was not such a big move, just the totality of all major indices having the worst month since june. The s p down more than 4 in august. Every major asset class fell in august. New york crude is now down about . 71. 88. 84. For the month we had a drop of more than 9 in august. That was the biggest monthly drop since 2020, the start of the pandemic. People are worried abou