Good morning and welcome to daybreak australia. We counting down to asias major market opens. David im david in hong kong. Stoxx are set to face headwinds, futures are pointing lower amid the u. S. Holiday. Rba decision today, the bank is expecting to hold its key rate. Its governor phil lowes final meeting. On the housing crisis threatening to engulf surviving developers with about two thirds of the 15 major private builders in default. Breaking, alan joyces is stepping down early as qantas ceo after a bad few weeks for the company. Public anger over a series of scandals. We will get to that story later in the show. In the meantime, breaking news out of south korea, all start with gdp numbers, its not important. Whats inflation are the whats important on the Inflation Numbers. Gdp,. 9 . Just this than it takes you to. 6 . That is the gdp story in line with estimates. What is coming in hot right now is the inflation print which looks absolutely nasty on face value. Up 1 on month on mon
A very good morning, welcome to bloomberg daybreak australia. The top story this hour, australias reserve bank is expected to hold its key rates until the final meeting. China is expecting to hold people in default. And chevron begins mediation with workers at its lng plant as unions threaten strike as soon as this week. A lot to get to underway. We are keeping off a u. S. Holiday, that being said. Early indicators suggest the newest speeches are coming online as we speak and the focus on whats happening in the oil market. We are at 86. That being said, the quality of Risk Appetite for that stock given the volumes were streaming extremely thin. We close lower in europe. Make no mistake the vix suggest weve cascaded down in terms of price erasing all gains across the board. Europe is trading the 108 handle. We are moving into a session now. The adjusted earning, those earnings at five yuan. 11. The revenue no for the Second Quarter is 2 billion you and its worth watching in terms of the
Giving equities a nearterm jolt. Seeing declines across the board. Hang seng off 1. 2 percent and the msci lurching to the downside as you can see from the getgo. A quick look at china benchmarks to see how they are doing. That tells you everything. I guests we had a bit of a gut check for those developers. Not out of the woods. Investors coming to grips that may be the authorities theyve been sort of taking a piecemeal approach. Perhaps they are getting it right. We dont know yet. Theres a feeling perhaps it is working to some extent given the long queues people had looking for properties in shanghai and beijing. Yvonne its amazing. The mortgage down payments, people just start lining up and they saw transactions that weekend was equivalent to what they saw in a month according to some local reports. What did that translate to consumption is another key factor as well. Its interesting to see with Country Garden. Today is the day, or tomorrow, the grace period of the dollar bond ends a
Competitors to emerge. This is how pharmaceutical companies are moving, into the sort of Lifestyle Drugs to help bring up their revenues for the next few years. Help bring up their revenues for the next few veere next few years. Looking at the numbers. Next few years. Looking at the numbers. They next few years. Looking at the numbers, they are next few years. Looking at the i numbers, they are astronomical. Taking market value to 428 billion, dethroning even lvmh. Give us a sense of its rise, but because it is a company that most people wouldnt heard of. A company that most people wouldnt heard of. ,. , heard of. Yes, it is. There arent that many heard of. Yes, it is. There arent that many world heard of. Yes, it is. There arent that many world famous heard of. Yes, it is. There arent that many world famous danish | that many world famous danish companies, either. It is a sector thatis companies, either. It is a sector that is becoming more and more important. Increasing affluence ar
Translation i would like to iterate our principal position, we will be ready to consider the possibility of reviving the grain deal, i told the president about it today and we would do it right away. As soon as all the agreements recorded on lifting sanctions on the export of russian Agricultural Products are lifted. Ukraines black sea ports are now effectively blockaded by russia, experts say it will have to rely heavily on its ports along the danube river to export grain into neighbouring romania from where it can be transported further afield as romanias ports remain open. For many countries the grain from russia has been critical, north africa where they have been experiencing drought that has been a real problem. To discuss whats at stake im joined by arnaud petit, council. Are you disappointed they could not Reach Agreement to day . There are considerations like financial transactions, we know that now it and cannot be happening just in well the Russian Agricultural Bank be recon