We have hsbc releasing their own data this morning. Lets take a look at the shanghai drop. It is a 2 drop today. Last week was the worst week for chinese stock in over a year. That is what is happening across these markets. Disappointing data, perhaps. A lot of speculation there. And the china market, there are a lot of big movers today. Which one is down for you . A few. Obviously we are following shares from h and ashares. We are watching if there are moves down in any other banking shares. The company is saying it may be forced into consultancy. We will get more on why later on. This Steel Industry in china seeing a bit of a pitch. They are down 3 today. I want to mention. The Mining Machinery is expecting a 75 drop in net income. They are seeing some pressure. Let me send it back to you. As david just mentioned, the president of chinas Minsheng Bank has resigned. What do we know so far . The details are still coming in and we have to rely on a beijing magazine for some of these det
Report. Michael, what is going on . Michael we have earnings out from China Southern probably the drop in the price of fuel. Angie that is the key. What has fuel been doing to allow these stocks to search . Michael the key is what the airlines have been doing. The difference is the chinese and hair airlines have not been hedging their fuel prices. We saw pacific, they had been hedging their purchases and it came back to haunt them. They made a decision when prices were falling a few years ago that they were not do that. Hedges are basically insurance. A risk that you are taking. The more confident they feel where price of going, the riskier. Angie european and u. S. Airlines have hedged. Something to write jet fuel prices fall. Lets talk about highspeed rail. Will it affect the output . Michael it is interesting. The Chinese Government is investing heavily in railways and also air infrastructure. In the budget presented recently, both of these sectors saw huge investments. I think even
Markets. To australia. Sx 200 is starting the day off in the red. Pretty much flat. New zealand this morning looks like this. Gaining half a percent higher. We are seeing strengthening in the kiwi. 82 u. S. Cents. Open cutting down to the in korea. Japan is close to celebrate the emperor first base. Apple finally has signed the longawaited deal to get icons iphone sellthrough china mobile. We are joined with the details from jays beijing. What does this mean . It means a lot to both players. For bothy hard fought sides. Six years of negotiations involving the top echelon of both companies. Tim cook has made this to hammer out the deal. Coming to fruition. It will give apple access to customers on chinas biggest network. In addition to those already using the iphones of the letter. This is quite a head start. There was a fever pitch for the iphone. That has cooled off a bit in china. I will get to the market share in just a minute. Is offered this since march 2012. There was pressure fo
Another leg of the search for mh 370 which disappeared nearly two months ago and nothing has been found. Paul allen is with us from sydney now. Where do they go from here . The think that will be number one question they will be asking themselves. The chief of the australian effort, angus houston, this meeting is to figure out where you go from here. Officials are putting their Heads Together to decide what to do next. 58 days in and absolutely nothing has been found. They owe itn says to the families of the missing to continue with the search. He is confident that theyre focused on the right area. They announced that the Aerial Search for debris is done. Anything floating is presumably no longer. The search is now exclusively underwater with the submersibles covering 400 square kilometers of the ocean floor. Yete said, nothing found and this is now the longest search ever for a plane in aviation history. Thes a longer this goes on, more it will cost. Its a matter of time before the qu
Also, the Straits Times index, as well, and lets check in with Malaysia Airlines stock. I think that is up, as well, a gain, but overall, lets just get a feeling of what is going on market wise with david. Thanks, and lets keep in that asia is used to waking up after the u. S. Session. And korea,ng on, japan, and australia, new zealand, a mixed picture, needed 225 getting a lift. The japanese yen is back over 104. The last i checked for the japanese currency, the weakest level since january, so lets see if we do see a continuation of the breakout we have seen starting in mid august for the japanese currency. Things you want to see. Inflation data, the bank releasing minutes from the latest policy meeting, and that is at 3 00 p. M. Hong kong singapore time, and we will wait for the markets to really get wound up. Are watchingt we very closely is the one in australia. And this is simply because the rba decision that comes out, in about 20, 20 five minutes, and we have the current account