Its stronger half of the trading. The korean won jumping most in five weeks and all of this ahead of the tariff deadline as well. A little bit of a risk on sentiment coming through in asian equities and assets today. Absolutely. And youre seeing it with futures trading in singapore. Having a look at what is going on there we are seeing an uplift. We could add to the near half percent gain we saw in the nifty session. Nfte. The dollar is falling against its Indian Counterpart the rupee , half a percent down in the last three trading days. The bloomberg dollar index erasing the gains we have had this year. 10 year yields a spike up as well. It is a time when we are seeing not just a lack of any Interest Rate cuts a perhaps a pause in Monetary Policy is the general feeling. Quite a few rate cuts priced in as the market is adjusting itself to factor in one or two next year. There are looking also at shadow banking and how some liquidity in the market is helping to unfreeze this troubled pa
We have appreciation of the yen which is exacerbating the problem in some senses as it makes exports less competitive. Theres a correlation between the strength of the yen and what happens on the knee cape or its of the stronger the yen gets the weaker the nikkei. Where sing a little bit of that today. The 200 lurched lower, led by those banks, increasing the amount it was going to charge itself for these complaints coming through for customers being a miss sold products. That stock is down and dragged the market down as did the broadsides from the reserve bank. In the four big banks. Australia passing on the Interest Rate they have been instituting. 10 year yields now 1. 59. 16 basis points loss in the last two days. Year. Or the 10 a rally in place as people look for a safe place to put their money. This is the position for gold asures, above 1500 here well. Down a fraction at the moment. The yen appreciating their against the dollar and their ego , perhaps limiting things a little b
Gold was making a bid for 1300. Now coming off that potential. Over,continues to roll separate from the macro events we are seeing there. It is down 0. 6 . David dan coats will testify before the Senate Committee on intelligence. At 10 30, we get weekly crude inventory numbers for the u. S. We expect supplies to fall. President trump continues his infrastructure week, traveling to cincinnati, to talk about investments in waterways. Jonathan we begin in spain co popular has been rescued by santander in a takeover. Seeing debt surging. Joining us to discuss more on the acquisition is Bloomberg Intelligence ajit. It will not make sense to people outside the markets. Market, this makes a lot of sense. Walk me through the junior debt and the senior debt. What has happened is overnight the ecb has market, ta lot of sense. Deemed popular is likely to fail. Debt,eans the tier one the tier to get have been two debt have been written down. Two has been converted into shares and transferred to sa
Swallowing up five smaller rivals. Will the new mega bank be able to compete globally . And it is the final countdown, singapore turns of its two G Wireless Network this weekend, rendering old phones useless. 2g. Its a friday, everyone, good morning, asia, hello, world, thanks for watching the Asia Business report, im rico hizon. Does bigger mean better when it comes to Financial Institutions . This weekend five indian banks will begin the process of merging with the state bank of india. Its already the countrys largest bank but after the merger it will be one of the largest in the world. The government hopes the move will clean up the system and get banks performing again. We ta ke and get banks performing again. We take a look. Hsbc, bank of china, bnp paribas, Jp Morgan Chase they are some of the largest banks in the world and now an indian bank will bejoining their ranks. The state bank of india, indias largest Public Sector bank, is merging with five subsidiaries. It will create a
Earlier with the Securities Regulator seems to be fading as we head into the g20 meeting in shanghai this week. The sox are down one third 1 . We are seeing a rally when it comes to materials such as iron ore. Really raising the sentiment on mining. Dragged down by telecom and utilities at the australian stocks today. We are starting things off in the grain. Down by one third of 1 . We just heard from chris would talking about how asian stocks are a long term by opportunity. He still thinks that fundamentally they are cheap. But some analysts are saying there really isnt much of a Market Trends that we have seen recently at the start of this year. Today. Picture here lets take a look at the oil rebound. The iron ore rebound. The australian dollar. Youve seen these figures from about midjanuary. It is interesting because when you take a look at the gains is awe have seen there sign that we could see more gains to con. That resistance level of the 200 Day Moving Average of 72. 75. The pr