Michael Mckee, Bloomberg Daybreak, Steven Engel discussed on Bloomberg Daybreak Asia


Prices and auto sales also declined dealers struggling to get cars but it does appear core sales were strong Everything from toys to sporting goods and clothing Americans incomes were bolstered by government fiscal aid and rising wages particularly at the lower end of the income spectrum the not so necessarily good news is retail sales will also benefit from soaring inflation as sales are reported in dollar figures Michael McKee Bloomberg daybreak Asia China evergrande has dodged another bullish the developer avoiding what would have been its first default on a public onshore Bond Bloomberg Steven engel tells us more They had requested investors vote yesterday Thursday to a 6 month delay on a early payment schedule That was originally due January 8th Now the majority of those voters of investors yesterday approved it So we're assuming that that means it is a 6 month delay in that payment on the $707 million bond But again it just pushes things down the road further Have a grand has more than $300 billion in liabilities as of mid 2021 it has been prioritizing payments to migrant workers and suppliers this under orders from regulators to fend off any risk of social unrest We are seeing evergreen shares up 6 tenths of 1% on the open in Hong Kong after three and a half percent drop on Thursday Let's get more market action now with Bloomberg's Brian Kurtz Brian So I read the headline too quickly and I got really excited because the headline reads and I'll tell you why it excited me Biden picks Raskin as feds bank regulator rounds out board I thought it said rounds on board and I thought oh the president criticizes the fed This could be pretty saucy but it turns out that it just rounds out And the reason I mention that is I got a point mention a bunch of names here for you President Biden picks Sarah bloom Raskin to be the fed's top banking regulator So that was the big one but also picked Lisa cook and Philip Jefferson to be governors So this means now that the president has completed his overhaul of leadership at the fed The selections according to people familiar with the decision keep a Biden promise to improve diversity at the fed while adding potentially dovish voices to a policy debate And officials at the moment are leaning in the other direction they're leaning hawkish and that's one of the things that dragged down tech shares overnight on Wall Street we had the NASDAQ down more than two and a half percent a drop of 381 points today And that kind of selling is fed through to the Asia Pacific The nikkei is down one and a half percent the SX 200 and Sydney down about 9 tenths of 1% And we're just getting the trading here in Hong Kong and China shares The hang sing tech index is down 3.1% So I can hear you saying here we go again These stocks have been up and down as much as 50 60% and they're selling off a little bit more today The CSI 300 is down about 6 tenths of a percent and in Taiwan the tye X which opened higher is now lower down 7 tenths of 1% So a pretty rough day at the office Bank of Korea raised interest rates for the third time since last year in the middle of the year The quarter percentage point increase to one and a quarter percent brings that rate back to where it was a couple of years ago before COVID-19 actually hit The offshore Chinese currency steady 6 36 44 against the greenback The greenback is also a little bit steady down maybe less than a tenth of percent dalian one 13 92 Juliet back to you Thanks Brian 35 minutes past the hour time for global news Workers vaccine mandates based on osha workplace orders have been struck down by the U.S. Supreme Court at Baxter has the latest in San Francisco it Yeah exactly right Juliet the U.S..

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