Bloomberg, China, Asia discussed on Bloomberg Daybreak: Asia


And here in Singapore on Juliette Sally and Bryan Curtis trading underway. Now in most of the key markets that we track for you on this program. A little bit of selling at the opening go on Hong Hong Kong prices. Hang Seng index down about six tenths of one percent. Just looking at the the price data in Shanghai. The Shanghai composite is off about one tenth of one percent. We're waiting for new home prices here. That'll be coming up in just a few moments. We'll get to that with Doug krizner, but I all the top stories of the hour. We'll President Trump will meet with China's top trade negotiatia tomorrow afternoon in Washington. Vice premier Liu hair has been meeting with US officials this week. Bloomberg's Tom MacKenzie says China is also said to be proposing that it could buy an additional thirty billion dollars a year of US agriculture products. This has been one area. Which is being seen by the Chinese is an easy win for them. They can easily make moves around increasing agricultural product purchases as purchases could include. Soybeans corn and waste and would be on top of free-trade will levels and continue for a specified period of time. Well by do is projecting revenue gains of twelve to eighteen percent in the fiscal first quarter driven by advertising. Bloomberg's Rishaad Salamat has more. By do says, new content is helping energize it's advertising. Business sales will be up to twenty four point seven billion UN in the three months to the end of March. That's above an estimate of twenty four point two billion. The companies a Diaz gained more than three percent in extended trading netting. Two point one billion Yuan by early wound about advertising said the comments today relieved, some investors the company is spending billions on artificial intelligence and self driving cars. It's hoping the new business will counter regulatory challenges and a slowing Chinese economy. In Hong Kong, I'm Rishaad Salamat, Bloomberg daybreak Asia. Well, if they told you a lot here on Bloomberg daybreak Asia about the big rally in Chinese equities Sierras. Bloomberg's Yvonne man reports he might say that Chinese Stokes have a secret weapon right now and secret weapon is China's government supportive policies out of Beijing have helped at nine hundred and forty billion dollars to the value of the country's equities since January. Consumer finance farmers, solar and education. Stocks have all risen workers. Get more time off and bigger tax refunds trading. Curbs were lifted pressure to cut drug prices, eased support for solar increased and a government encouraged listed companies to invest in vocational colleges. The optimism may continue if top officials discuss additional measures at next month's annual gathering in Hong Kong, I'm Yvonne man, Bloomberg daybreak Asia. All right. The time is thirty three minutes past the hour. New home prices in China month-on-month. This is at zero point six one percent higher. That's down from the. Month of December. And in some other news, the US North Korean summit next week in Hanoi is reigniting the dream of a North Korean rail link more on that from our rainy and Asensio South Korea's president moon. Jae in told President Trump this week. He's ready to move forward with the rail link if he gets help with the negotiations the rail project was first launched more than fifteen years ago, but it was scuttled because of politics and sanctions the infrastructure could help North Korea monetize mineral resources, the North Korea Resources Institute says that could be worth as much as six trillion dollars. Modernizing North Korea's railways would also allow South Korea to run trains into Russia, China and beyond and cut shipping costs for its export heavy economy for now the tracks stop abruptly at South Korea's northern most station next to the demilitarized zone assigned there reads, the steel horse wants to run Ramy Inocencio, Bloomberg daybreak Asia. Let's get a close up look at what's happening in financial markets here in Asia with Bloomberg's Doug krizner duck. Well, let's begin to China with. Julia. Julia because Brian mentioned the new home price data for the month of January again month over month of a little more than six tenths of one percent. And is Brian indicated growth slower than what we had in terms of the increase in December. When the gain was nearly eight tenths of one percent check this out take a step back and look at the year-over-year figure home prices in China in the aggregate up ten point eight percent in the month of January. And then if you look at the different cities, fifty eight cities out of those surveyed showed increases in the month of January. That's also a month over month comparison versus the fifty nine that they saw in December so moderation in terms of home price appreciation happening in China on the mainland offshore currency right now is at six seventy three fourteen weaker against the dollar by about one tenth of one. The an holding firm here at one ten seventy Nikkei two twenty five in the equity trade is down one half of one percent similar decline. In Hong Kong for the hang sang Shanghai composite off less than one tenth of one percent. In seoul. Meantime, the kospi down about one half of one percent, positively in Sydney where the ASX two hundred is higher by one half of one percent and the US ten year treasury in the Tokyo session with the yield of two point six eight percent. I'm Doug krizner at Bloomberg interactive brokers studio in New York, Juliet, thank you, Doug. We'll UK Prime Minister Theresa may has spent the last two days in Brussels trying to get something to take back to parliament. And she doesn't appear to have it. Ed Baxter has all the global news in the Bloomberg nine.

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