Asia, Hong Kong, Singapore discussed on Bloomberg Daybreak: Asia


Daybreak Asia it is ten thirty AM in Hong Kong and here in Singapore on Juliet's Ali and I Brian Curtis trading is underway in most of the markets across the region this morning China is promising to retaliate after the US house of representatives voted to sanction Chinese officials over human rights abuses in Xinjiang the bill if it acted would require the trump administration to punish Chinese government officials responsible for those abuses and so most the markets for selling down today also some talk on trade from president trump it today where just about all the stocks are down normally get us some winners and some losers if you look at thank sing index this morning Juliet yeah out of fifty stocks you've got forty seven down to just three higher she probably curious ha which three some underlying strength their huts China mobile China unicom and Geely automobile only three stocks that are higher and they're just fractionally over you thank you for letting me know and not giving me hanging will president trump of course dusting those hopes for a quick trade deal with China anytime soon the president saying he likes the idea of waiting until after the election for an agreement that we spoke earlier with modern life global macro strategist at State Street and he calls trump's comments and the selloff we've seen in global markets a signal to reconsider your entire thesis is based on a trade deal that significant with roll backs of tariffs and you know all of the good tidings that were being talked about over the last few months no I I think it's time to reassess that may well come a secretary Wilbur Ross weighed in on the prospects for US China trade deal as well saying that the US will raise those tariffs on December fifteenth as planned if nothing changes what China is racing the world to create a new line of super pigs as Bloomberg's Yvonne man reports the ambitious effort extends far beyond securing a better pork supply inside a fortress like mega farm outside Beijing scientists are experimenting with the gene for regulating heat to protect pigs from hypothermia in the wake of devastating African swine fever they're now turning their attention from creating better tasting swine to healthier ones Donnie scientists are racing researchers in the US and Europe to develop superior lines of all kinds of food and fiber crops China's been four hundred and forty five million dollars of research and development in twenty seventeen almost as much as the United States but China's Patton's of genetic innovations in agriculture looks to be about four times that of the U. S. in Hong Kong on me vine men blue birthday brigades yeah Indonesia's anti graft agency is warning of the risk of Chinese investments the agency's warning government officials to be more careful China is backing the first high speed rail way between Chicago and band on but Beijing's growing economic footprint has some there wondering if Indonesia is becoming too indebted to China in spite of the US China trade war and a slowdown in China's economy no more has made some ambitious plans hiring plans for the country that story from Bloomberg's reshot Solomon the motor is targeting having a stuff of five hundred in China by twenty twenty three that off the grain to two hundred next year from the one hundred also level currently this is as it builds in the operation saving wealthy Chinese clients through a local joint venture rival Goldman currently has about a hundred people in IT security joint venture and UBS has about three hundred and seventy in Hong Kong number showed salon that's been the daybreak Asia says of alphabet gained around one percent in late trade off to work that Larry page and Sergey Brin the founder of Google as stepping down page's title was CEO of Google's parent alphabet imprint was president summed up a child will become CEO of alphabets as well as Google well as we've been mentioning these trade concerns really weighing on the overall market sentiment the embassy I Asia Pacific index is actually falling to an October through she law we are seeing a volume pick up though and support levels somewhat being taken out on these trade angst Jeffries warning to price for more ethics Moline going into the December fifteen tariff headline deadline I should say at the at six two hundred is leading to clients once again down one point eight percent in Sydney six thousand five hundred ninety five points in the yield on Australia's ten you know it is down by almost eleven basis points two one four zero eight three of course the abbey a yesterday living writes on hold GDP for the third quarter year on year coming in at one point seven percent okay we can buy one and a quarter of one percent looking like it could get very close to that twenty three thousand point level it's at twenty three thousand and eighty seven and Hong Kong's hang sang index as we have been mentioning also under pressure it's down one percent at twenty six thousand one hundred and twenty six points no surprise the yet is high one awaits what five four WTI crude tracking at fifty six dollars forty a barrel Brent crude also FMF by around half of one percent and gold Brian he's pretty steady at fourteen hundred and seventy seven US dollars an ounce in the Asian session all right thirty five minutes past the hour it's time for a news update China is threatening retaliation to a new US human rights bill with that story and the other global news is mark mills in the Bloomberg news remark Brian by a vote of four hundred sixty one the house passed legislation that would require the trump administration to sanction Chinese government officials responsible for the repression of Muslims predominately the Uighurs the bill has elicited unspecified threats of retaliation from China the house measure has to be reconciled with a slightly different version passed by the Senate before it can be sent to the president the impeachment moves ahead of the impeachment process moves ahead Wednesday with a hearing by the house Judiciary Committee the house intelligence committee concluded that president trump abused his office by soliciting Ukraine's government to deliver a political favor then undertook an obscure effort to obscure his conduct and obstructing a congressional investigation Sean Patrick Maloney is a democratic congressman from New York what we've done on the Intel committee is pursuant to the house resolution rapidly and I think very productively uncovered the evidence the clear and convincing evidence of the president's misconduct with respect to Ukraine Republican congressman Jim Sensenbrenner of Wisconsin a member of the house Judiciary Committee defended the president I don't.

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