SAM, Cosby, Carrio Fx discussed on


Two venues potentially singapore the odds on favourite but also possibly lamberto mongolia excellent reporting as always stephen engle there joining us live let's why now this conversation and bring nncholas fares he's a cio advantage point asset management he joins us from our studio in singapore gray tabby on the program i wanted to kick off with this cautious reaction we're seeing an asian equity markets and also some of the fixed income markets kospi's up seven tenths of one percent a bit of a move and dollar one but at one point that's the market more aggressively priced in real rapprochement between the two koreas great question i think the more important aspect is helped process responding to news and i would go back to the global macro newsflow which vacation is probably pasta inflection point if i look at k leading indicators like the us saw sam the new order steam bitchy right show indicators lot korean exports which have rolled over as well so we we suspect that there is a loss of momentum in the global macro economy and that's probably the most significant from an equity market perspective particularly when you look at south korean equities the kleenex exports queen industrial production eps much more important than than than sentiment or perception shifts so there's no strategy that you can core about around a reconciliation between the two koreas at this point because the defense stocks for example there on under pressure on the cosby as we speak not from a trading perspective i think if you had an overreaction i think there's something interesting you know the korean won has always been a great currency from hedging perspective so so i would look to potentially take the opposite side and i always saying some della weakness just in the last twenty four hours of this morning but i i suspect that that's possibly for later in the year end interesting hedge particularly korean carry or interest rate carrio fx carries is quite low so we would look to potentially do that against highyielding currency or more defensive county luck the japanese yen defensive position but but not not really sure on nine because i know you're very selective about the emerging markets you recommend we'll get into fed conversation in a bit i.

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