Bloomberg, Bloomberg Business, Bloomberg Interactive Brokers discussed on Bloomberg Daybreak: Asia
Golden State Warriors was considered a strong leader Bill Belichick, Maine and Cam Newton, the starting quarterback of the New England Patriots for the upcoming season, While Newton was also elected one of the three offensive captain by the players, a rarity for first year Patriots player I'm Dan. Sportsmen that your Bloomberg World Sports Update Markets headlines and breaking news 24 hours a day at Bloomberg dot com. Bloomberg Business at hand and Bloomberg Quick Take. This is a Bloomberg business Flash. Well, hello, everyone. It's now 17 minutes past the hour, and we have two markets for you every quarter hour on Bloomberg. I'm Brian Curtis in the Bloomberg Interactive Brokers studio in Hong Kong. Well, it was kind of orderly selling in Europe earlier where we had the cat current traded down, just 4/10 of 1% the dax a little more at 1.4%. But then you got to sell off on Wall Street, which really gets your attention, the NASDAQ down. 5% companies like Apple off more than 8%. What about in Asia? Well, somewhere in between, we see losses in markets of around 1 to 2.5% or so Led by some pretty sharp selling in the sex 200 in Australia, down 2.5% but otherwise in Taiwan just 1% lower Singapore is down 1.3%. And we're looking at Hank's ING index Futures are trading down about 1.2%. So it seems to be not quite such an energetic selloff tape. In Japan. Everything is lower except autos and And components intact and Taiwan. You've got information technology and just about everything down on ly energy and health care are higher and in Australia, every sector is lower. And some news Yum. China is telling prospective investors it will price it's second listing in Hong Kong at $412 per share that puts the company on track to raise $2.2 billion. That price for 112 Hong Kong dollars, which is around 50 us or so it would represent a 4.9% discount to its last closing price. In the currency markets Stoli and 106 18. Not much of a change there the euro dollar 18 51 We touched 1 20 a few days ago, the Aussie 72.7 U. S sense. And that is a look at markets. Let's get a news update with Mark Mills in the newsroom Mark. Thank you. Brian Anthony Fauci, the U. S is top infectious disease expert. Named seven states, mostly in the Midwest that are at risk of a jump in covert 19 cases if they fail to take precautions over the Labor Day weekend, Sunni Oneonta in New York sent students home for the semester after an outbreak as cases Sir John US campuses New York governor Andrew Cuomo said malls and casinos can open September 9th if they have enhanced air filtration systems and observe occupancy limits. Japan's government says it expects to vaccinate the entire country against the novel Corona virus by the middle of next year, according to the Washington Post. But even if that does not happen, the organizers of the proposed postponed Tokyo 2020 Olympics insists the games can proceed, perhaps with limited Spectators, Chinese President Xi Jinping said nothing will come between the Chinese people and the Communist Party that has governed them for more than 70 years. Setting a combative tone at a difficult moment in U. S. China relations. Global news 24 hours a day on Erin on quick take by Bloomberg powered by more than 2700, journalists and analysts in more than 120 countries, By Mark Mills. This is Bloomberg. Kathleen, Do you Mark. Thank you so much. Now, let's get back to our conversation with Stephen Glass. He's portfolio manager at Pengana International Equities and Stephen You know, Doug was talking about Robin nomics, and it's something I've been looking at very closely as we get ready for a new prime minister. You mentioned the failures in a note You sent us on. And of course, he did Break the back of deflation. After the lost decade, you note in stock market doubled unemployment conduct a 2.2%. Inflation, you know? So what if it didn't get to 2%? The Fed can't get 22% D. C B can't get to do percent, But I like hearing your one focus on the need for fiscal policy to compliment mantra policy with Javi tried And this idea that we're somehow supporting a lot of unproductive countries around the world with aggressive stimulus on the monetary side. Here. Look, there's no doubt. I mean, in my opinion that all monetary policies really doing now is it's really just pushing up asset prices and allowing companies to survive on capital raise capital rather than earnings. And when you do that, you're not really getting. It's not really capitalism. You know, I think it's quite ironic that we seem to be reverting to a former off. I don't want to say communism search, especially socialism because This is not our capitalism work and there are a lot of companies out there just surviving on basically capital raised very cheaply and this is not how you increase productivity and you know that the world needs. Unfortunately, it's not something that any of us want, but we need a bit of pain to clear this out. To allow productivity. Two people have to reschedule to only the most productive turns to survive, and therefore, that will help on global GDP. But you know, more telling is just what's happening here. You know, not many people own assets. And I said prices go up and its wages on keeping up. What that's doing is making the rich and the rich could survive even greater and this fuel in a lot of social unrest around the world. And so we see it as a huge social issue on DH. You know, something's got to give eventually. But you know, the thing is still ways to make money so we can you know it's easy, anyone Down and just point out all the risk in the world. But we're actually make money and from the way you can do it is you can invest in discount retailers around the world. So dollar General dollar tree Ali Ali outlets. There's a great idea in Israel at the moment called Max Management. That is that is another discovery Tyler and in essence, what I'm saying is he's going to get this modification of consumers want to probably invest in luxury brands. LVMH comes to mind and also an investment discount retailers..