UK, United States, Hong Kong discussed on Bloomberg Daybreak: Asia
We update markets every 15 minutes on Bloomberg Radio Brian Curtis here in the Bloomberg Interactive Brokers studio in Hong Kong. Well, the dollar is a big mover today down 4/10 of a percent US session. Another 10th of a percent here in Asia, So that's providing ample liquidity. I suppose you'd say, but We probably won't see all that much in the way of trading today, a number of markets closed and a number of participants away from their desks in terms of trading volumes quite low in the early going. We've got the asx 200. That's up. 18 points about 3/10 of 1%. Zeeland is trading as well. It's down as well. This morning, down about one percenters, so number of markets closed for insist Japan and South Korea. A number number of markets will be on half days today. That's the case here in Hong Kong. Hang Seng Index futures down about 4/10 of a percent Europe was slightly lower overnight. The U. S was slightly higher. Nothing too exciting. We did see a bouncing in small caps, and we saw a bounce in neo. It was up about 5%. But this is the stock that I referenced a few moments ago about going up. 1100% this year starting the year just under $4 traded up the $55 in the US, and it was part of that gang of stocks that got sold off really aggressively in the last couple of weeks and today rebounding, not just a tad up to 48 38. All right, Let's take a look at the 10 year. We won't see trading in Tokyo today. But the yield on the 10 year 93 basis points wt. I crewed 48 37 of barrel That's check of markets and Baxter with news in San Francisco it alright, Brian. Thank you. UK Parliament has approved the EU trade deal. This was about 24 hours to spare. Before it would have been a hard Brexit. Senate Majority leader Mitch McConnell has closed the door on the stand alone relief check increase to $2000. The Senate has voted to take up the override of the Trump veto on defense spending. U K E u trade deal clears the House of Commons. Also, The Lords, I said, could be it is finalized now, so they beat the deadline. China's halted the sale of U. S Consulate staff compound in Hong Kong, citing Washington's failure to secure approval from Beijing for the $332 million deal, China's President Xi Jinping, due to focus on what he sees as China's security and safeguarding China's one party system. US vaccination distribution running at much lower space than was planned. The head of warp speed says Things will pick up next week. California Governor Gavin Newsom says the variant Covitz train has been identified now in Southern California in San Francisco. I'm Ed Baxter, This is Bloomberg. Julia Thanks so much. And let's get back to Nadine Time and CEO of SOC in capital on the line for us from Palo Alto and just wanted to pick up on the brakes in agreement that it was talking about there and whether or not that means that you're looking towards Europe or UK stocks in 2021 some pretty bullish calls that UK equities that have been the most under loved a market off. 2020 could see some upside. Now that we have the uncertainty removed, and I guess a lot more clarity here. There is a lot more clearly Juliet, but the same time I think you gotta pick the red stocks. We've had some pretty big winds there even through this process with a debt collector and some other names related to materials and the like. But the fact of the matter is that there's still a lot of shut downs across Europe were big in Europe. I should say that as well, not just the UK, but you have to be selective. You have to know the fundamentally the names so I don't think it's just play anywhere all the time. But you're right. They've been underperforming there in the UK, So if you can get those that somehow Kenbrell through Even if there are lockdowns, and we have our prolonged economic dislocation here, I think that you have, you know, a lot more estimate, treated upset so specific names aside, let's get back to the issue of theme. Juliette mentioned cannabis earlier and I brought up the issue of Green energy are their themes that you like in 2021. You're hitting on all of our destiny. Julian s Oh, we've been having into green energy plays actually across the world. You've mentioned energy. Obviously, I went across the bay for me. I'm doing well and the solar realm so we've been having in solar We've been also having in materials related to solar evey other infrastructure type projects so it could be making buildings more efficient. So we're trying to look past that may be the more obvious first level place and looking to the second place, so the layers underneath that who is providing the materials of the services Of products to the people who are winning and where the country's they're going to be spending their capital. That's where we want to be. I wonder as well how much we've learned or how we're going to change post pandemic, particularly when you look at the working from home aspect notice. Well, you're looking at robotics and that whole kind of seem of Perhaps the robots taking over someone just sent me something about dancing robots and busted for something like that, So well, that's not part of our thesis. Um, you are gonna see that they need to find a way to automate the efficient compasses companies. And while there will be increases in labor, it's not maybe going to be where we lost Labor initially, which is the service is right. And so you will see humans and you know various warehouses fulfillment centers, but there still is a lot of robotics going in whether it's even in products like cars or obviously, products in the home. We? We do believe that you have to not just think about the cyclical service place that could be rebounding is markets open Economies open. But the long term plays where companies really gonna be putting the money. I'm curious how a weaker dollar kind of figures into your your thinking here. Whether would necessarily benefit US multinationals because they get an advantage. It makes their Their respective product or service less expensive overseas or whether it it favors emerging markets. You know, it's a really good question, Doug. And unfortunately like part of me thinks about the social aspect first and functionally, I think it why didn't the social disparity Because obviously, the people who don't have a job or people who maybe don't have money invested in the market. They use their dollars to buy their health care to buy their food to buy gas for their car. So I think, unfortunately, one of the key things that comes out of that is increasing inequality of income and the purchasing power of people. That's kind of number one so You need to obviously be un emotional about that in my job and making money for clients, but also weaker dollar does help E m. It's a great point..