Back they've taken five hundred billion dollars a year for many years five hundred billion we have really, rebuilt China you might remember that the end. Of last week Beijing released List of objects goods. Consumer goods sixty billion dollars worth that it intends to hit with tariffs this obviously in retaliation for President Trump's plan to impose duties on two hundred billion. Dollars worth of Chinese imports meantime China's central Bank is imposing, a reserve requirement for. Twenty percent on some trading for four x. forward, contracts this obviously will make it a. Little more. Expensive to bet against. The Chinese currency Nissan has agreed to, sell it to electric car battery business to, China's. Envisioned group no price has been disclosed but under the deal Nissan would be keeping a twenty five. Percent stake in the business Nissan had been planning on selling the unit. To a private equity group in China that deal, collapsed about a month, ago and on earnings watch lookout for. HSBC it will be reporting interim results investors are looking for. HSBC to deliver. I better message on cue. To revenue versus growth and they'll be watching for, the Bank Margin outlook, as well, h SBC sizable trade finance business will also be in the spotlight, given the fact that we. Were talking a lot about these trade tensions and how they're intensified SoftBank is. Another, company to watch today the stock as well with quarterly results coming out we get more on that from. Bloomberg Susanna Palmer soft bank's operating income probably fell in the June quarter amid sluggish. Domestic telecom earnings and assuming a lower spectrum exchange gain at sprint valuation gains for. Soft bank's tech funds probably, weren't enough to offset, that since it's flip cart stake sale to WalMart hasn't been completed. Soft bank's founder overseas the largest tech fund in history the vision fund has been pouring money into industries such as ride hailing ecommerce digital. Payments satellites semiconductors agriculture. Cancer detection and artificial intelligence Susanna. Palmer Bloomberg daybreak Asia we're thirty-three past. The hour we've got a relatively stable Japanese yen, against the dollar here at one eleven Twenty, four let's, get. To Tokyo checking with Bloomberg's. Jeff Sutherland he's got his eye on the market in Japan good morning Jeff Good morning yes it fairly slow here, some common, the market after some drama last week when the be okay said they'll allow some flexibility on bond yields right, now the yen a steady this morning after I climbed point four percent, on Friday on the, back of the US jobs report and then. Dr, fled also at that comes after they lost one point nine percent last week think tech companies. In automakers doing very well well the banks are lower for carmakers looking at Toyota, that step on change right now on Friday the company's earnings topped estimates and it. Kept it full year earnings forecast on changed. But then it flashed its prediction for, North American sales for a trade war talented. So there's more earnings out ahead this, week he. Mentioned SoftBank coming up later today and, another thing. To want to economic data we have GDP coming. Up on Friday All right, thanks to Bloomberg's Jeff Sutherland. One of the key focal, points for markets today is going to be the relationship, of the on, a with the dollar we had a strengthening in the New York session Friday, that, was after the PBOC. Imposed we were talking about this earlier reserve requirement of twenty percent on, some trading of foreign exchange forward contracts then a short, while ago, the economic observer a port reported that PBOC advisor was saying do you want won't break seven per dollar now, we got as weak as six Ninety-one during the New York session actually, this was late in, the Hong Kong session on Friday it strengthened. During, New York trading right now we're trading at six eighty four forty eight that's the offshore you. Want against the dollar Bloomberg dollar spot index meantime after a weaker session on Friday, it's moving up by about one tenth of one percent the US tenure treasury yield. Now at two ninety five we had the. Employment data to sift through on balanced, kind of mixed but it really doesn't take. Us away from the notion that the is going to raise rates at least two more times in calendar two thousand eighteen w._t._i. crude oil meantime sixty eight fifty four and a quick recap of equities nikkei now weaker by about one tenth of one percent in hong kong no trading yet kospi is up three tenths of one percent and in sydney limited trading and we have the a._s._x. two hundred higher.