35 Burst results for "Chinese Yuan"

Why a New Age of Value Investing is Here

Stansberry Investor Hour

14:31 min | 2 years ago

Why a New Age of Value Investing is Here

"But let's get to the rant okay now. If if you read the stands Mary Digest if you're stanbury reader you saw me talking about some stuff on Friday. If you're stands very alliance member or extreme value subscriber you also saw me talking about the same thing in the September issue of extreme value which came out on Friday as well so I was all up in reader's grills on Friday about one particular subject and I'm going to talk about that today. I obviously can't give giveaway the advice that I told are paying subscribers in you know the extreme value newsletter but I can tell you what I told him which I think because extraordinarily important. It's like this for a couple of years now. I've been kind of kind of I've been pretty bearish on stocks and starting in two thousand seventeen I said look I expect in the next couple of years. We're going to see the start of a bear market and lots of volatility and after that I said we're probably going to see something like the golden age of value investing because what happens over time over history history over several decades you see that you know the cheapest stocks in the market outperformed the most expensive ones for several years and then there's usually a bear market ticket or some kind of Ruckus and then people feel burned by the thing that performed so great that led them down so bad in the bear market then they switch to something else so they buy the more expensive names the high growth technology names and then those do well for a while then there's a bear market then guess what happens they they feel burned by the grows docs and they go back to the value stocks so there's this tick tock kind of change of the seasons affect between growth the more expensive part of the market and value cheaper part of the market and so. I've been saying stocks are expensive. We're going to get that moment in the next couple of years ears. It's common. It's not here yet. It's coming and we're talking about it for two years and what I told readers on of of the digest and extreme value and Friday is what I'm telling you right now. It's it's here. It started I mean do I even need to recount the last ten nine years right. If you look at just the you can use the Russell growth in value indexes. They have like one the Russell one thousand growth two thousand three thousand whenever I use the Russell One thousand thousand growth index that is up more than four hundred percent since March two thousand nine the last big bottom and the Russell Value Index is about two hundred and sixty percent which is nothing to Sneeze Abbott is nowhere near four hundred percent so you can see the very obvious difference you know people just weren't interested in value and they I love growth. What happened on Friday or I'm sorry on Monday. September ninth is that this this whole thing it just it turned upside down like in one day and our good friend Jason effort over a sentiment trader later kind of called this out to me not to me personally he tweeted it to the whole world and I subscribed to his letter and he said that there to all subscribers but basically he said the best stocks. This is a quote from him. The best stocks today that was Monday. September ninth are the ones that have been the worst year to date date. This is the biggest one day momentum shift since two thousand nine. I saw another report to day in barons. I'm sorry earlier this week and barons and they said basically the same thing that this this shift is the biggest. It's been since two two thousand. They said since two thousand ten but you get the idea right. Everybody is noticing that there was this massive shift essentially from growth to value on one day and I've been waiting for this and I've been predicting that this would happen now. Not everyone is convinced that you know the starting gun was fired as I'm saying it was on Monday September ninth. The LUTH old group is a really great research firm and they're saying hey you know don't get too excited. Wall Street Journal put out an article said. Hey don't get too excited but I'm sorry I just I disagree with them. I think this is it. I think the turn the giant turn been anticipating from growth devalue is here so what does that mean well what it means is like think of it this way nick if you take all the stocks in the market and split them into ten pieces based on something like price to book value. Let's just say so. You know you got these ten slices based on price to book value so there's you know the bottom ten percent you know there's the the cheapest ten percent right and then there's the next cheap is ten percent and so on up to the most expensive ten percent think of it that way well for the last ten in years the most expensive ten twenty percent twenty five percent. Whatever has been doing a lot better than you know those bottom ten percents right you know those bottom two or three ten percent so the the more expensive stocks have been outperforming the cheaper ones and that it it it just turned turned upside down as as Jason Gifford indicated and as you know the folks in Barons indicated in an article today and has a bunch bunch if you just type value and growth and shift I mean you could probably type any combination of these words into Google. You're going to get a bunch of articles in the Financial Nanteuil Times. like I said Wall Street Journal Bloomberg has had a couple of them. This is all over the place you know. This was not a quiet event. This was a big event and so that is sort of like that was the starting gun. That was the moment that I was predicting. I think there's a couple other things really really you know the one big other saying that kind of caught my eye as a possible indicator. Is You know what I'm calling the failure. You're of the we work right. We talked about this last week and I think that really kind of put a pin in the in the Vision in growth growth. IPO market until now all you needed to have a Multi Multi Billion Dollar IPO OH was vision and growth right a vision of the world with lots of Nice flowery language and you know lots of revenue growth so so you combine these two things together in that explains a lot of IPO's right and and of course making a profit well you know we we don't need that vision and grows replaces profitability as important marker for bringing a company public but not now I think I think we work really put it this way. Who would have predicted in January when they were financing. They took a two billion dollar investment out of Soft Bank at a valuation of forty seven billion where we're all the articles saying this valuation is going. GonNa be cut by more than half and the IPO is probably not even going to happen. There were none nobody was predicting that and yet that is exactly what is played doubt now. I wouldn't have predicted it because let's face it. This thing has just gone on and on and on for years and you know calling the top of a bull market ooh boy you know the longer gets. It should be easier to call but it's almost harder because we all just get used to it. It becomes new normal well. All Twenty nineteen is anything but normal do you not agree who who ah January I would have looked looked forward and said fifteen hundred fifty dollars an ounce gold seven Chinese yuan to the US dollar. Nobody was talking about seven. It was just six six six six as far as the I could see who would have said you know may twenty nineteen would be the worst may and forty years for the stock market who would have said August twenty nineteen would have been the best year for the bond market in forty years and you know who would have predicted the the we work to buckle. Nobody nobody is the the answer and of course you. I'm sure all said be feedback. I predicted it or or you know this guy predicted it or that guy but it wasn't everywhere and yet it it's turned into this weird year where all this stuff is happening and frankly it feels very end of cycle. Michael and I've said that many times I realize on the podcast but it's it's become more intense this year with all these huge huge changes in financial markets and I think for me and for my readers dispatch from growth to value is really the big event and so in my newsletter extreme value for the Passover years we we've done things completely differently. We haven't done the traditional sort of valuation metrics that you do do when you're in a value investor. We've done some other things and use different a different valuation style. I've talked about it. It's kind of complicated. It's called price x prize implied expectations and it came from a book by a previous podcast guest. Michael Moebius called expectations investing and it really it helped us a lot. We found all kinds of stuff that by the headline traditional metrics looked really expensive but when we applied the price implying expectations dictation model it was like wow this thing is cheap and so you know we recommended for example last August we picked starbucks and that thing was up eighty percent in a matter of months several months and and that was from August twenty eighteen by the way so it it worked it was good but it wasn't the traditional value thing and what I'm saying now is that the starting gun was fired last week and and and the traditional value thing is back on baby. It's it's back back in action. It's here so our work arcus cut out for us because if you just if you've done any amount of stock screening you know that there's a lot more names you know south of. You've just a couple of billion in market CAP. Let's say then there are north of a couple of billion in market cap so a lot of these value things. Are you know one one billion two billion five hundred million. They're smaller and they're in beat up industries and they're in difficult businesses. I mean I I've been looking at reinsurance insurance company Electronics Manufacturers actually one was a beat up utility company. The utilities are screaming but this one was beat up for the different reasons and and so there's a lot of different stuff and and each one is sort of a unique situation unto itself picking these stocks a high art because they got a lot of hair on them. You've got to be comfortable with with a mediocre business. starbucks is a fantastic. Aston Business and we pick some other big cap stocks like Home Depot and a couple others that I'd rather not give away for free and and you know they've they've done fine but assessing those businesses is kind of a similar proposition they dominate their markets. They generate tons of cash. They have consistent margins consistent free. Casually there's a whole bunch of markers where you can just look at the thing and go one two three four five yup. It's one of them but the value stocks aren't like that there is almost like they're all one offs and the only thing they have in common is that they're all dirt frigging cheap and everyone has avoided voided them like the plague for ten years of course those two things go together right and one of the insights that I'd like to share with you is that this is a very Howard marks type of a thing I recommended Howard marks book the most important thing many many times on the program in my newsletter you know in my living room to my wife dog recommended the book a lot and and marks will frequently say you know so the the market knows companies. It knows what the good businesses are. So what are you going to bring to the table that that is any better than that because you have to do something different over time to to get superior returns. If you're doing the same thing thing everybody else is doing or if you're doing anything that everybody else already knows about. You're not going to get the superior returns. You gotta do something that everybody but he doesn't know about and by definition people don't know about all the stocks they've been avoiding for ten years so they're all dirt cheap whereas whereas by definition these businesses like kinder- Morgan and starbucks and Home Depot and other other companies by definition those things you know they have is on them so they always looked kind of expensive. They rarely look. They don't really get dirt cheap so it's a different. This is a big shift. It's a different proposition and and it's somewhat of a prediction because what I'm saying is from this point forward. The values going to outperform but I'm really not thinking of it as a prediction. I think the starting gun was fired. It's it's absolute historic. Fact that that one day shift in momentum is the biggest such shift in ten years documented now in two different sources that I've seen you know. I

Starbucks Wall Street Journal Jason Gifford Michael Moebius Home Depot Mary Digest Howard United States Luth Soft Bank Abbott Google Kinder- Morgan Bloomberg Aston Business
Yuan slides past key 6.9/dollar mark on fresh U.S.-China tensions

WSJ What's News

01:15 min | 2 years ago

Yuan slides past key 6.9/dollar mark on fresh U.S.-China tensions

"US markets closed up yesterday. An Asian markets were well mixed today. It's worth moving beyond equities. However, to pay attention to what's happening in currency markets. The Chinese Yuan continued to slide against the dollar, which is something that could become an issue during trade negotiations from Hong Kong are markets reporter, Mike, Byrd has more view on move to six point nine four today, which is the weakest, it's been about six months. The reason I was quite big deal. Is that the Chinese government has in the past defended the Yuan around seven to the dollar? It doesn't like it weakening further than that. It's about for China and a number of ways economic clay, and they've made an effort to to defend it. The problem today was that there were a series of articles in Chinese state media outlets saying that the Chinese government is not currently interested in resuming trade talks with the US government. That's full. Showing some of the souring of relationships between China and the US earlier in the month after Donald Trump tweeted that the trade talks, not going as well as he would have liked. He see not Asian markets as well today in Shanghai now underperforming US stocks for the year.

United States Chinese Government Donald Trump China Hong Kong Shanghai Reporter Byrd Mike Six Months
Haven assets rally sharply as trade tensions test nerves

Sean Hannity

00:40 sec | 2 years ago

Haven assets rally sharply as trade tensions test nerves

"Trade tensions between the US and China. Continuing to weigh on Wall Street is the markets. Get ready to wrap up in the commodity markets. Gold prices were up to over one month high today traders looking to get into the safe haven assets. After equities are tumbling. That's after China has decided to retaliate to US tariffs by using higher levies on about sixty billion dollars worth of Chinese goods. Gold prices were down a bit early in the session after the Chinese Yuan dropped to its lowest level in months. Whoever goal was able to rebuild after equities plunged and the dollar weakened amid trade concerns the dollar index dropping to a low of ninety seven point zero three four bouncing back in ninety seven point three gold futures for June, fourteen dollars, forty cents to thirteen hundred one dollars and eighty cents

China Chinese Yuan United States Thirteen Hundred One Dollars Sixty Billion Dollars Fourteen Dollars One Month
"chinese yuan" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:07 min | 2 years ago

"chinese yuan" Discussed on Bloomberg Radio New York

"Had over eighty two thousand cases of measles. Seventy-two measles deaths. I'm Evan Haning. And I'm Doug krizner at Bloomberg world headquarters in New York. Let's check this hour's top business stories and the markets financial markets have been rattled by President Trump threatening more tariffs on Chinese imports. Because in the president's view trade talks are moving too, slowly. And now from the Chinese side the consideration of possibly cancelling trade talks with the US scheduled to take place this week in Washington earlier, the offshore Chinese Yuan was down one point three percent against the dollar the biggest decline since January twenty sixteen right now the offshore currency off seven tenths of one percent to six spots seventy eight thirty six there is no trading in Japan or South Korea today both observing holidays right now. In Hong Kong, the hang sang is down two point six percent. Shanghai composite coming back after a three day break is weaker by three point four percent. And in Sydney, the ASX two hundred is down one percent. We know Occidental. Troll. Liam is locked into bidding war with Chevron for control of Anadarko petroleum. And now Occidental has sweetened its takeover offer and said if it wins it has an agreement to sell Anadarko assets in four African countries to the French oil giant total price tag for that transaction would be eight point eight billion dollars. Now Occidental wants Darko for shale oil assets in the Permian basin of west, Texas and New Mexico. This goal has caught the attention of Berkshire Hathaway Warren Buffett's company has agreed to inject ten billion dollars of preferred equity into oxygen to help finance the acquisition of Anadarko right now in the foreign exchange. The end strengthening to one ten forty nine with a gain of six tenths of one percent, the dollar stronger as well with the Bloomberg dollar spot index up two tenths of one percent. Global news twenty four hours a day on air and tick tock on Twitter powered by more than twenty seven hundred journalists and analysts this. This is Bloomberg. Who's winning.

Occidental Bloomberg Bloomberg world Anadarko Berkshire Hathaway Warren Buff President Trump president Evan Haning Chinese Yuan Hong Kong ASX Twitter Doug krizner Shanghai New York US Liam Chevron
US, China And Shinwa discussed on Bloomberg Daybreak: Asia

Bloomberg Daybreak: Asia

00:46 sec | 2 years ago

US, China And Shinwa discussed on Bloomberg Daybreak: Asia

"This President Trump will delay the planned increase in US tariffs on Chinese imports. That had been scheduled for March one seemed says though some progress is being made because we learned from the Chinese side of the equation this, according to Shinwa, the China says substantial progress has been made in these trade negotiations one area where you're still unclear on the currency clause. We are told the US and China have yet to agree on the critical issue of enforcement in a proposed currency deal. This would ensure that Beijing leaves up lives up to its promises not to depreciate Chinese currency against the dollar right now the offshore Chinese Yuan up about three tenths of one percent against the greenback. Here at six sixty nine thirteen. The dollar pulling in ever so slightly. We're down about one tenth of one

United States China Shinwa Donald Trump Beijing President Trump One Percent
"chinese yuan" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:03 min | 2 years ago

"chinese yuan" Discussed on Bloomberg Radio New York

"All right, Ed. Thanks very much. Well, just quickly looking at currencies. The. Onshore. Chinese Yuan has moved to the strong Saturday six seventy now sixty nine forty four against the US dollar. It's time for sport. We'll get Donna page. He's looking at the NFL Commissioner Roger Goodell. Making some comments on officiating. Donna case Brian Commission Commissioner Roger Goodell held a news conference today in Atlanta where the patriots battled the Rams in Super Bowl fifty three on Sunday. Fidel says he hopes the raiders are able to play one more season in the bay area before they moved to Las Vegas. We gonna play wanted. Sorry about that. He also said he never considered replaying the NFC title game. Even though the referees missed penalty that may have cost the saints trip to the Super Bowl in the NBA. The Knicks trail the Mavericks, fifty five forty seven at the half. New York is trying to snap. It's ten game losing streak. The Celtics lead the Hornets sixty three and fifty nine at halftime Boston is without Kyrie Irving to a strained left. Hip. The wizards leave the Pacers twenty nine twenty one. Both teams have lost two in a row in the National Hockey League. The East-leading lightning trail the penguins. Three nothing in the first period. The stars are hosting the sabers. It's the first game for all four teams since the all star game in college basketball, number ten Marquette beat Butler, seventy six fifty eight number twelve Virginia. Tech leads Miami. Sixty eight fifty one Villanova number fourteen Villanova out in front of the Paul thirty three. Twenty eight LSU is taking on Texas an Amil that in just a little bit about half an hour from now number twenty Iowa State leads west Virginia's sixty five to fifty one in Seton Hall is hosting. In providence in a big east matchup involving to unranked teams, Donna page. That's your Bloomberg NBC world. Sports update, Paul. All right. Thanks very much for the Donna with the Hang Seng showing some decent gains in the early going up nine tenths of one percent right now, the Nikkei now eight tenths of one percent coming off a stronger early performance here in Sydney ASX fly by fifth of lumber sent modicum on Bloomberg daybreak Asia. Business. Data is growing at an unprecedented rate,.

Donna Commissioner Roger Goodell Fidel raiders Ed Bloomberg Paul Kyrie Irving Chinese Yuan Commissioner US National Hockey League Knicks Hang Seng NFL Las Vegas New York NBA Miami
"chinese yuan" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:52 min | 2 years ago

"chinese yuan" Discussed on Bloomberg Radio New York

"Markets every fifteen minutes, I'm Brian Curtis. Live in the Bloomberg interactive brokers studio, well, let's take a look at the markets here this morning, kind of a mixed state of affairs. The Nikkei is trading down about a half of one percent in Australia were flat. And in Seoul, the kospi is up two tenths of one percent. You look at the earnings LVMH says, well, the kids are all right in China. Apple says, they might be in trouble. Let's get details from Ryan love doll in Shanghai. Ryan. Good morning, Brian. We're seeing just a little bit of selling here on the mainland. But I gotta tell you. There are a couple of socks were watching this morning. That are really interesting China. Life insurance is down as much as four point three percent after stunning analysts with a warning at twenty eighteen profit may have declined as much as seventy percent Bernstein. Called the four q loss implied by the warning massive while no moral cut. The stocks writing to neutral on the news. And it's twenty eighteen earnings target by forty nine percent. Meanwhile, furniture maker so fair is down as much as eight point five percent. The most since October on its own profit. Warning, the company sees twenty eighteen net profit rising just five to ten percent from your earlier versus its previous target of ten to thirty percent growth. This is all part of a larger trend. Brian that's beginning to catch people's attention. At least ten firms told investors last night that they're full your earnings would fall short of expectations. More gloomy signals are likely before deadline Thursday when listed firms in China must report whether they expect any substantial changes in their financial result. Brian back over to you. Ryan. Surprised? Those analysts are surprise the insurance companies are heavily explode exposed to the stock market. And the Shanghai composite down thirty five percent in a year. So not all that surprising to this. Reporter the currency is strong this morning. We've got the Chinese Yuan C N Y, six seventy one sixty eight. Let's get to Ed Baxter in San Francisco for a news update. Ed. All.

Brian Curtis China Ryan Shanghai Bloomberg interactive brokers Seoul LVMH Ed Baxter Chinese Yuan C N Australia Reporter Apple Bernstein San Francisco one percent thirty five percent forty nine percent
"chinese yuan" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:38 min | 2 years ago

"chinese yuan" Discussed on Bloomberg Radio New York

"PB you see just made its biggest cash injection on record by open market operations pumping in around eighty three billion dollars in their latest step to prop up the economy. And the move comes before the week long lunar new year all of these next month, which typically trigger a liquidity crunch, and after a raft of dismal economic data from experts to home prices now, let's get more with Monica Malik who still with us from Abu Dhabi. He's the chief economist at Abu Dhabi commercial Bank. Monica. Let's jump straight into the Bloomberg and see what's happening with the Chinese Yuan and divergence that's materializing GT go for our clients, a story of a one pricing level and forecasts are becoming increasingly disconnected. If you could sit down with some of the key policy makers in China looking at the data as you have what would you be asking or telling them at the mall? Well, I mean, I think very much from top. They've looked at the data. They've seen a slowdown. Notre increasingly seeing is is multi sort of areas of support coming into the economy. So at the beginning of the year, we had a reduction in the reserve requirement ratio to try and boost. Credit growth to the private sector yesterday. We had comments also coming out saying they're going to look at a deeper tax cuts. We've seen this liquidity injection as well. So it's a very clear picture from the policymakers that they are looking to support growth they have seen the slowdown in economic activity, and they do want to continue the momentum. And that that is supported market sentiment over the.

Monica Malik Abu Dhabi Abu Dhabi commercial Bank chief economist Chinese Yuan Bloomberg China Notre eighty three billion dollars
"chinese yuan" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:16 min | 2 years ago

"chinese yuan" Discussed on Bloomberg Radio New York

"President Trump and the vice president will meet tomorrow on Capitol Hill with Republicans as the federal government shutdown continues. The president will also visit the US Mexico border on Thursday. I'm Ann Cates. And I'm Bryan Curtis. In Hong Kong. Let's get you the latest on this hour's top business stories. President Trump is said to want a trade deal with China to help financial markets and Asian stocks are rallying sharply amid the improve tone, and the general optimism over US China relations, investors, encouraged that talks were extended into a third day. China's finance ministry will reportedly propose an annual fiscal deficit. Target of two point eight percent of GDP in two thousand nineteen. If approved the change represents a small expansion of the budget from two thousand eighteen target of two point six percent of output would be less than the three percents that some economists had forecast and more stimulus is coming in China to revive automobile demand. This year, the national development reform commission says the government will roll out measures to boost consumption of autos and household appliances. In the meantime, the World Bank is cutting its forecast for the global economy. Details from Bloomberg's Denise Pellegrini. The World Bank is now forecasting global growth of two point nine percent. This year back in June. It was predicting three percent growth the same. As two thousand eighteen it blames slowing trade and investment and rising interest rates, and it says the impact in emerging and developing markets is especially acute the World Bank is also warning the risk of disorderly market movements. An escalating trade tension is increasing and it says death vulnerabilities in emerging markets are growing as well. Denise pellegrini. Reporting in the markets. The Hang Seng index is now up two point two percent. The CSI three hundred representing a mix of stocks in China. Also up about two percent this morning while the Nikkei as rallied one point two percent. The Chinese Yuan strengthened about two tenths of a percent to around six eighty four against the US dollar. The Bloomberg dollar spot index is flat. News twenty four hours a day live in a tick tock on Twitter, powered by twenty seven hundred journalists and analysts in more than one hundred twenty countries, I'm Brian Curtis. This is Bloomberg broadcasting.

China President Trump World Bank Bloomberg US Denise Pellegrini vice president Ann Cates Bryan Curtis Hong Kong Twitter Brian Curtis Chinese Yuan Mexico two percent
"chinese yuan" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:36 min | 2 years ago

"chinese yuan" Discussed on Bloomberg Radio New York

"To the session right here. Because the Asia Pacific so gains US equities on Wall Street. We do have futures at the moment. Suggesting marginally weaker, but Megyn stuff and Stokes across from Japan to Australia with a bit more strength in China and Hong Kong dollar declining treasury data to treasuries as well on the way, down to share your key measure of US inflation is she picked up as expected in November. Without further ado, time fool, the mooning cool Tatyana is he as a reporter for Bloomberg micro school. Thanks for well US stocks managed to keep some games for the day despite a fade in the afternoon with all major averages closing in the green here. The tech heavy NASDAQ rose nearly one percent extending gains for a third day and stocks rallied amid some optimism on trade after reports that China plans to ease access to its markets. Earlier President Trump suggested he can intervene indicates against the arrested Huawei executive as part of a deal with China and big boost in FX the power and surging as UK prime minister may survive vote of. Confidence. But the Keeble has been parents and gains here, and is trading around the one twenty six level the dollar fell while the Chinese Yuan continued to strengthen lie from the first word breaking news desk, I'm Tatyana. Daria fresh. Thank you very much. Indeed and Elsa Zing oil stepping back as we had a smaller than expected decline in US trade shows US crude stockpiles that's been raining fears of a global glut. Let's have a look at what's going on WTI not turning on.

US China Bloomberg micro school Tatyana Elsa Zing Asia Stokes Huawei President Trump Chinese Yuan Daria Hong Kong Japan prime minister reporter UK executive Australia one percent
"chinese yuan" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:59 min | 3 years ago

"chinese yuan" Discussed on Bloomberg Radio New York

"Curtis in Hong Kong. Let's get you. This hour's top business stories and the markets. Asian stocks are mixed this morning, while US stock futures declined that after the Trump administration's latest push on tariffs against China the dollar headed higher and the Chinese Yuan feld. I'll have more on markets in a moment. Chinese Vice Premier Li is set to convene a meeting in Beijing this morning to discuss the government's response to the tariffs. This is according to a person briefed on the matter. China has not officially responded yet to the announcement. Although Beijing has previously pledged retaliation on sixty billion dollars of imports. Here's what the president announced earlier. Ten percent tariffs on two hundred billion dollars worth of Chinese imports effective September twenty fourth. The rate will jump to twenty five percent on January first, and if China retaliates, President Trump says the US will immediately pursue phase three which is. Tariffs on approximately two hundred sixty seven billion dollars of additional imports. We did get some comments from China's CSRC vice-chairman function high. He said the tariffs the negative impact on China's GDP would be about zero point seven percent. He says China has ample fiscal monetary tools to cushion the impact and that the US economy, isn't that resilient as people tend to think in the markets. Australia's dollar fell against all of its group of ten peers, it is trading at the moment at seventy one point seven four US since down about a quarter of one percent to the markets. Now, the Nikkei is bucking the trend up more than one percent gain of two hundred thirty seven points. In Hong Kong. The Hang Seng index down two thirds of one percent. But the Shanghai composite is up a tenth of one percent. Global news twenty four hours a day live and tick tock on Twitter powered by twenty seven hundred journalists and analysts in one hundred twenty countries. In Hong Kong. I'm Bryan Curtis. This is Bloomberg..

China US Hong Kong President Trump Bryan Curtis Beijing Trump administration Chinese Yuan Twitter president Hang Seng Bloomberg Shanghai Nikkei Australia vice-chairman one percent two hundred sixty seven billio two hundred billion dollars sixty billion dollars
"chinese yuan" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:14 min | 3 years ago

"chinese yuan" Discussed on Bloomberg Radio New York

"Get over to Dan Schwartzman is one of PSU stars looking to leave, Dan. Brian. That's potentially what's going to happen. The list of suitors could be large PSG's Adriana Hobie. Oh is France internationals in his final year at the league one club list of interested teams. It's like a who's who haven't this event this Manchester City Barscelona Liverpool and Tottenham to name just a few Manchester. United defender Bailey may look to leave in January of both Tottenham and arsenal. Interested in the twenty four year old Ivory Coast international in other news into Milanez growing interest in menus, Anthony Marceca with the possibility of a loan swap occurring involving Evonne Perissich going back to Manchester. Donald is going to be severely short handed for its Champions League opener against intramural on on Tuesday. As five players are all out various injuries with nine Spurs. Having played on World Cup teams. That reached the semifinals speculation is that fatigue is a factor for Tottenham slow start to the season. Major league baseball scoreboard local teams in action heading to the fifth inning while trailing Toronto three nothing. Bottom of the fifth Mets and Phillies all tied up before. Bottom five Washington leading Miami four to nothing. Coming up later tonight at San Francisco at San Diego, Monday night football. It's an NFC matchup three forty remaining in the first quarter of the Chicago Bears leading the Seattle Seahawks. Seven to nothing. A Mitchell Trubisky touchdown pass to Trey Burton New England Patriots acquiring troubled, but talented wide receiver. Josh Gorn from the Cleveland Browns along with a seventh round pick. If Gordon is not active for at least ten games for a fifth round pick the Twenty-seven-year-old. Former pro bowlers missed significant time the past four years with substance abuse suspensions, including all a two thousand fifteen in two thousand sixteen to make room for Gordon the pats ever leased Korey Coleman. Philadelphia Eagles quarterback. Carson Wentz has been medically cleared a will start week three against the Indianapolis Colts after being out since December tenth I'm Dan Schwartzman. That's your Bloomberg NBC world sports update. Doug. All right. Danny. Thanks so much forty one past the hour daybreak Asia. We're taking a look right now at the fallout from the announcement on more tariffs coming from the US targeting Chinese goods the offshore Chinese Yuan now down two tenths of one percent markets next. What would you listen as a hiring manager? I've got to tell you the best job candidate isn't always the typical candidate. Sometimes they're a grad of life. Meet.

Dan Schwartzman Indianapolis Colts Manchester Adriana Hobie Gordon Tottenham Brian France Josh Gorn Evonne Perissich Philadelphia Eagles Cleveland Browns Mets Toronto Spurs Chinese Yuan San Francisco
"chinese yuan" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:19 min | 3 years ago

"chinese yuan" Discussed on Bloomberg Radio New York

"To learn more in a look at how things are shaping up for the Asian trading day. Let's take headed over to Bloomberg's Doug krizner. Doug, Stephen seen a much stronger. Yen vis-a-vis the dollar here at one ten fifty. Now, the yen firmed in late New York trading. The F T talking about speculation that President Trump is now eyeing Japan as the next target in his global trade war. We're waiting for any indication on the additional two hundred billion dollars in Chinese goods that may be hit with new tariffs public comment period will officially ended midnight and the president could impose new levies anytime after that is we know full. Well, China has promised to retaliate where. The Nikkei is concerned we are down six tenths of one percent in the opening moments. In Seoul, the kospi off one half of one percent. And in Sydney, the ASX two hundred is down just about two tenths of one percent. The US markets generally speaking, the tone was risk off a lot of concern. Not only about the trade war, but issues facing the semiconductor industry, and whether or not perhaps the chip are the canary in the coal mine as it relates to US trade with China the Philadelphia semiconductor index down to a half percent. Nasdaq composite given the tech weakness was off one percent. The Dow eked out a gain of just one tenth of one percent. But in the broader market, the S and P was down about four tenths of one percent importantly here in the states tomorrow. The August employment report as you well know, data points will be very much on the job market, also the state of wage inflation, although in the bond market today very little way in a way of movement the ten year treasury last quoted in New York at a yield of two point eight seven percent. The Bloomberg dollar. Our spot index during the New York session was down two tenths of one percent. We continued to trade weaker off by about one tenth of one percent right now and the offshore Chinese Yuan. Brian six eighty four eleven this made me think about drove my Chevy to the Levy. But the Levy was dry, so we've got these levees targeting an additional two hundred billion in Chinese imports, which you mentioned, Doug. Deborah Lehrer was deputy assistant to the US trade Representative for China. And she said that the US is in a perfect position now to get some significant concessions Chinese are moving much more to consumption oriented economy, where they want to import more and for the administration what they wanna do is export war. So it seems that there could be a deal there. The question really is whether the administration is prepared to deal. China has promised to retaliate on any further. US trade action, Steve will Brian if we're talking about the American pie UBS says the US equity market could take a hit if President Trump slaps new tariffs. On Chinese goods levies for an additional two hundred billion dollars of imports from China could be announced at anytime after midnight. Wall Street time UBS says the S and P five hundred could lose five percent. If the rate on those tariffs is that maximum projected twenty five percent. And the Bank says the scenario has not been priced into the market UBS. Economists expect ten percent tariffs to be enacted by the end of September US trade officials in their Canadian counterparts trying to hammer out a new agreement. Canadian foreign minister of Freeman is in Washington earlier, she met with the U S T R, Robert lighthizer. Lighthizer?.

US China New York Doug krizner President Trump Bloomberg Levy Brian UBS Chinese Yuan president Seoul Nikkei Deborah Lehrer Robert lighthizer ASX Stephen Sydney
"chinese yuan" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:03 min | 3 years ago

"chinese yuan" Discussed on Bloomberg Radio New York

"Invitation only I'm Barbara Kusak I'm Bryan Curtis in Hong. Kong let's get you this hour's top business, stories and the. Markets President Trump. Plans to move ahead next week with tariffs on two hundred billion dollars in Chinese imports that added to currency routes in Argentina and Turkey to destabilize markets, Argentina tried to stem a. Route in the peso the central Bank raised its main interest rate to sixty percent but to no avail the currency fell more than ten. Percent back to President Trump he told Bloomberg in a wide ranging interview that he's I regulation. To index capital. Gains to inflation No I just there are a lot of people that love, it there's some people that do but I'm thinking. About it very strongly President Trump also said the United States, is studying whether to. Label China a currency manipulator and they would figure a new. Formula to determine that in the markets the Chinese Yuan actually strengthened off its early losses this morning Meantime China's PM is strengthened this month that. Caught markets by surprise given week domestic investment of late and the trade angst with the United States the manufacturing. Index up to fifty one point three in August that was versus fifty one point two in July and it beat the forecast to fifty. One in a Bloomberg survey briefly Chinese Internet, giant tencent. Is down more than five percent and trading today China's regulators said that they plan to limit the number of new online games and. The total number of games they intend to restrict the amount of time that minors spend playing them, and the, stock is, down again about five and a quarter percent the Hang Seng index is down one point four percent the Shanghai composite is down nine tenths of. One, percent and the Nikkei in Tokyo is down four tenths of. One percent dollar yen one, eleven right on the button and also the yield on the ten year treasury two point eight five percent global, news twenty four, hours a day live and talk on Twitter powered by twenty seven hundred. Journalists and analysts in one hundred twenty countries in Hong Kong I'm Brian.

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"chinese yuan" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

08:15 min | 3 years ago

"chinese yuan" Discussed on Bloomberg Radio New York

"Discusses his new healthcare venture you can't just chip a little bit here There We'd like to, be we're not gonna find something that could be. Done plus, Citigroup's Catherine man discusses what to watch out for in the. Markets I'm not sure there's much new information that would warrant this much. Exuberance All this and more coming up in the next hour of Bloomberg best And I'm Doug krizner at Bloomberg world headquarters in New York let's check this. Hour's top business stories and the markets President Trump confirmed to us earlier he's intent on moving ahead with a. Plan to impose tariffs on two hundred billion dollars. Worth of Chinese imports the news, sparked a risk off tone in markets now during the New York session the offshore Chinese Yuan tumbled by. More than, seven tenths of one percent against the dollar in, Asian trading right now we. Are seeing a recovery in the offshore currency six. Eighty four forty Forty-six the gain is about four tenths of. One percent President Trump also said he's considering indexing. Capital gains to inflation he said he. Does not regret appointing bed chair Jay Powell is chairman regulators in China say they plan to. Limit the number of new online games and the total number of games this move is being done in part. To restrict the number of hours miners are spending playing these online games we had eighty In ten sent down. Seven percent in the New York session now in Hong Kong right now tencent is down nearly five percent China's. Official factory gauge unexpectedly strengthened this month the official. Factory PM I came in at, a reading of fifty one point three the latest reading exceeded forecast and suggest some resilience in the Chinese. Economy we, check markets every fifteen minutes here on Bloomberg right, now the Nikkei down one. Tenth of one percent the hang sang weaker by. One point three percent, in Shanghai composite index is down one. Half of one percent ASX two hundred in Sydney. Weaker by two tenths of one percent. Although in Seoul the kospi is higher by one tenth of one percent the Korean one down. Four tenths of one percent against the dollar and the US ten year treasury with a yield of two point. Eight five percent Global news twenty four hours a day on air and, tick tock on Twitter powered by more than. Twenty seven hundred journalists and analysts in, more than one hundred. Twenty countries this is Bloomberg US equities remain resilient. As, trade uncertainty and geopolitical turmoil continue to hurt many overseas in. Emerging markets from, Bloomberg's Tom Keene and Pimm FOX spoke with CitiGroup global, chief economist Catherine man can you explain what the real relationship is between the performance of the US economy and the performance of the US, stock market Well actually, the two, of them make sense right now I mean the US economy is doing extremely well I mean the unemployment rate is quite low tax cut profits are high profile. Is strong you know it makes perfect sense that stocks should be very elevated now you got to ask the question though we, knew that growth is going to be really, strong and we, knew that. Unemployment was going to be really low me knew everybody was going to get a tax cut so maybe it's a little overdone When you say. Overdone meaning the exuberance the enthusiasm to buy stocks well I you know I think that there's quite a bit of enthusiasm a lot of people are buying? Stocks, and you gotta ask what is the new information. That is, being incorporated in the stock valuations that. We have, today I think that's really the. Question because. I'm not sure there's much new. Information that, would warrant this much exuberance we'll have a new information. That looks at the US stock market relative. To what's happening in the rest of the world you, take a second look and you think that decision to sell US equities and go someplace else is a decision that. You're not gonna make right now Well again I mean my view is is that there are a lot of Emerging-markets that actually are very good opportunities and all of. The emerging markets are sort of being tarred with the same brush, and looking there are some definite places that you do not. Want to invest but. There are a lot where you do want to invest they do represent opportunities and would? You, be booking. A ticket to go and check out the companies, and, Indonesia, Malaysia. I would I would also look at some some Latin countries, Peru Chile combine, these are countries that we don't hear about a whole lot but, in fact they have been. Extremely disciplined in terms of their policies. And they they represent a good opportunities now, you gotta wonder about, the neighborhood we always have to wonder about the neighborhood but you, know it whether it be. Asia or whether it be Latin America or Europe but there are good opportunity really what we're really talking about in this debate is. Country, a, doesn't have, the institutional structure leadership and governance in a country really Can be adjacent can be fine I mean that's really. What we're talking about it all this isn't as I say I think the neighborhood does matter. I mean there's no question that that if you're surrounded by challenging, challenging environment you don't get you're not you're not going to. Do as well as. You know a situation where you have the opportunity to trade with their neighbors and that's? That's, beneficial for. Both so you you do care about the neighborhood, but, on, the. Other hand getting back to the choices that investors have to, make do you, do which which place are you're going to get more value the, SNP or on mortis aggregated. Basis individual companies maybe some companies that. We don't hear about so much in the, United States and some, companies in countries that we don't hear about so much so it, it it's you know we. Talk, about activists versus pacifists investing this is a time to be an activist investor and really do your homework and do your analysis And figure out what the good deals are point taken and, I'm wondering whether, you can you speak about countries such as Peru and Chile and Colombia are you talking about commodity driven economy well peruse not welcome, Peru does have commodity so there. Are commodity, elements to it for sure but, these are countries that actually, have have been able to diversify they also have been, able as I, say have disciplined policies and that is something that that has been important for the stabilization of, economies and, put them on a growth path and to have the actual determination and I would say conviction to stay in if indeed there are any short-term declines in the, value, of these, companies are assets that you described because. Of the mistakes or the headline reading that goes on around them to take advantage of those opportunities Yeah That means you've got to have the same kind of, wherewithal let's, say with the United States if stocks word of the. Client See any possibility that we're going to have a correction and, asset values well I think there as we think about the sort of the, pathway that, the that the Federal, Reserve is on which is to Measured pace increase interest rates increase, the policy rate We have to think about. What does the that do for other financial assets and I think there's a question as to whether. Or not we get another seventy five basis points what does the financial market look like, at that. Point that was, CitiGroup global chief economist Catherine man speaking. With Bloomberg's Tom Keene and Pimm FOX coming up we'll. Take a look at government spending with David Stockman you can. See all the Bloomberg. Best, stories at best, go this is Bloomberg I wasn't prepared to be a caregiver I had no idea how hard it. Would be what I would need to know things never thought, of like how to improve her mood and ways for me to stay positive luckily I, found, the caregiving, resource center from AARP it had articles about the..

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U.S. Yield Curve Looks Hell-Bent On Inverting

Bloomberg Daybreak: Asia

00:31 sec | 3 years ago

U.S. Yield Curve Looks Hell-Bent On Inverting

"Minutes past the hour it's time for an update on markets and equity. Markets here in the Asia Pacific showing some. Pretty sharp gains Hang Seng. Index futures up to thirty five China futures up about forty five cash markets have gains, one. Hundred and seventy eight points for the Nikkei. And yeah sex two hundred is up about thirty five points, we just got the fix from the BBC on. The currency and it's quite, sharply stronger than the fixed yesterday six point eight zero five two versus the six eighty five and change yesterday. We're watching

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"chinese yuan" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:13 min | 3 years ago

"chinese yuan" Discussed on Bloomberg Radio New York

"And Hello everyone it's nine thirty in. The morning in Hong Kong Stephen Engle and I'm Doug krizner at Bloomberg. World headquarters in New York so we've got the Hong. Kong market up, and running now hang sang pushing higher by three tenths of one percent and on the mainland the Shanghai composite is better by. One, tenth of one. Percent overall a mixed picture the story was really been about dollar weakness. And a strengthening, Japanese yen offshore Chinese Yuan and even the euro which is up three tenths of. One percent against the dollar I would be remiss if I did not mention the Korean won higher by one half of one percent, against the dollar right now we'll take a closer look at markets. In a moment, with Bryan Curtis right now, this hour's top business stories All right, thanks Doug well business economists. Are saying President Trump's tariffs are bad for US growth a survey by the, national association for business economics showing ninety one. Percent of those surveyed say, tariffs were, having. Unfavorable consequential impacts on the economy about two-thirds of. Those surveyed see negative effects if the US withdraws from NAFTA for weeks. We've been talking about President Trump's plan to slap tariffs. On another two, hundred billion dollars worth of Chinese imports which US companies will be most affected the story now from Bloomberg's Ramy Inocencio one of. The, biggest losers could. Be Nike it's already been accused by China's state run TV of false. Advertising in China, accounts for a large chunk of its revenue growth China is also key for Starbucks. Expansion and since it actually owns most of its stores these could be vulnerable McDonald's also has massive expansion plans for China but business, there has declined over the past few months other consumer companies sensitive. To Chinese demand, include Coca Cola Mattel KFC See Michael Kors Burger King and Steve Madden Ramy Inocencio Bloomberg daybreak Asia well let's look, at currencies here with the Chinese Yuan a strengthening. For a third day in, a row perhaps on the back as well. Of a weaker dollar other PBOC the central Bank had Beijing has raised as daily reference rate it did so yesterday on the. Back of a weakening dollar Bloomberg's George, lay says a couple of things are driving the, currency higher I is. This expectation that there will be trade talks, between China and US even reports that they were aiming. To set up a summit meeting in.

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US, Bloomberg and China discussed on Bloomberg Daybreak: Asia

Bloomberg Daybreak: Asia

00:19 sec | 3 years ago

US, Bloomberg and China discussed on Bloomberg Daybreak: Asia

"It's nine thirty in. The morning in Hong Kong Stephen Engle and I'm Doug krizner at Bloomberg. World headquarters in New York so we've got the Hong. Kong market up, and running now hang sang pushing higher by three tenths of one percent and on the mainland the Shanghai composite is better by. One, tenth of one. Percent overall a mixed picture the story was really been about dollar weakness.

United States Bloomberg China Doug Krizner Donald Trump Chinese Yuan President Trump Hong Kong Hong Ramy Inocencio Inocencio Bloomberg New York Shanghai Stephen Engle Bryan Curtis Nike Pboc Nafta Michael Kors Burger King
China's July exports rise more than expected despite U.S. tariffs

Bloomberg Daybreak: Europe

03:42 min | 3 years ago

China's July exports rise more than expected despite U.S. tariffs

"March pipes edging lower a two point nine six seven percent we all watching the Chinese Yuan after the. POC was set to tell some lenders to prevent any herd behavior the word gains. For the Chinese currency earlier on the on shore version of the UN still holding onto those gains rising by zero point one four percent as I look at it now trading at six sports eighty two that's a Bloomberg radio business. Flash now, here is Bangkok with more on what's going on around the world thank. You monkeys Iran, and North Korea have pledged to build stronger ties after foreign minister Zarif meant his counterpart from Pyongyang real young hope The official Iranian news agency said little else about the meeting in Tehran other than the, peer, discussed issues. Of mutual interest former Malaysian Prime, Minister Najib results denied three counts. Of money laundering today his court. Appearance, is linked to a case involving is see an ex unis of. The troubled one. MD be investment fund with billions of dollars have gone missing pleaded not. Guilty to corruption and criminal breach of trust charges A government projections Australia's. Populations broken through. Twenty five million the. Bureau of statistics is the milestone was reached just after eleven o'clock on. Tuesday nights Sydney time the residents population grew by. Three hundred eighty eight thousand people in the past year sixty two percents. Of the migrants global news twenty four hours a day on and talk on Twitter powered by more than twenty seven. Hundred journalists and analysts in more than, one hundred, and twenty countries I'm Ben Clarke this is Bloomberg Matt Ben thanks very much for that now China has just reported its. Trade data. For. The month, of July Chinese exports grew faster than expected while imports surged showing both domestic and international demand continue to rise now, this trade data, for July is. Special because it, dates back to when the US tariffs on thirty four billion dollars of Chinese goods took. Effect meaning it could show how much pain the, trade war has inflicted so far joining us from Hong Kong is Bloomberg's chief Asia economics correspondent and occur and run us through the latest results that's right indeed I mean the numbers tell us in fact. That the pain from a trade war so far has been somewhat contained reasonably robust export dot reasoning. Reduced import numbers but of course economists say these figures can be volatile and one month is only part of the, story I, think there's already a sense that wireless coverage ally and a covered the period of when the initial batch of tariffs on thirty four billion worth of goods. Wasn't meant like. You mentioned the relay Action would it. Be over coming months we. Are, expected to move towards a deadline on the next batch of tiresome two. Hundred billion by the US. China has promised retaliated with fire some sixty billion more goods so. I, think the sense is that these numbers for July were okay perhaps even better than expected but the real story and trade would play I would, say later in the year yeah I mean you you were making reference to the possibility the potential of tariffs being slapped on two hundred billion dollars worth of additional Chinese goods what kind. Of impact. Can. This next, round of US tariffs if it is implemented actually have well remember the White House have threatened towers up to twenty, five percent between, ten and twenty. Five percent and, I think the viewing is that if a war to end up in a situation with. Tariffs dot level on goods worth tuned two billion, dollars worth out of China it would have material impact I've seen estimates of a hitter GDP growth up to half a percentage point if not higher The critic. Question remains can we come towards some towards a some sort of a negotiated solution.

United States China Bloomberg Bangkok Bureau Of Statistics UN Twitter Bloomberg Matt Ben Zarif Pyongyang Ben Clarke Sydney Minister Najib Malaysian Prime Australia Tehran Hong Kong Iran
SoftBank profit swells 49 percent as it monetizes investments

09:15 min | 3 years ago

SoftBank profit swells 49 percent as it monetizes investments

"Com. And by the Bloomberg business. Good morning from London I'm Markus. Karlsson and I'm used to Dean from defy we have of course the Saudis reasserting themselves underscoring that they have this appetite for a. Much, more. Aggressive foreign policy, taking on a g ten country yeah. Absolutely taking, on Canada we'll talk more about those trade tensions of course you also have the. Tensions, between the United States and China in the trade space no letting up all of. Those tensions either during the weekend with Donald Trump talking tough we've got to Chinese authorities sort of signaling through state media this morning that. They are willing to, wait it out in this trait, standoff. So as I say no sign of any easing tension. Sir, let me talk. You. Through the. Markets here at seven oh two in London eight oh two if. You're listening in Frankfurt. Or Paris European shares rising on Friday A weekly loss judging by the futures this morning we're going to see. Gains at the, open euro stocks fifty futures higher by zero point one, four percent we're seeing footsie futures rising by, two tenths. Of one percent and get count futures. By a, quarter of, a percentage point looking at the handover from Asia the indices there are makes the Chinese and Japanese Hsieh's down while the Hang. Seng, has. Been gaining run, about six tenths of one percent we've. Been watching, HSBC shares offers second quarter earnings those shares still in positive territory but I've actually. Pad, back some of their previous advances on the back of the second quarter earnings looking. At FX the off show you on had been building on gain sir from Friday overnight but we're now seeing it weaken somewhat by about. A tenth of one, percent against the greenback surpassed still, some. Nervousness there despite this actions these measures that we saw. From, the Chinese on. Friday. Stepping into. Sort of make it more expensive too short the Chinese Yuan will Talk more about that. In just. A moment the AUSSIE dollar the biggest lager in the space against the. US greenback looking at prices they had been rising overnight. And WTI is still on the, front, foot higher. By about a quarter of a percentage points at sixty eight dollars and sixty six cents a not a lot of movement. When it comes to Brent crude. At seventy three dollars and twenty seven cents we are seeing metals coming under pressure on the off by two point two percent when I. Look at zinc prices this morning on the enemy. Copper prices off by nine tenths, of one percent use yeah we have some earnings out from one of the heavyweight lender SoftBank coming in with first quarter operating profit of seven hundred and fifteen billion a year in they're saying, that the first quarter was boosted by two hundred and forty four point nine billion in vision fund valuation gay I think. There's going to, be considerable focus on any news around on a succession, plan positive could grab the attention of investors, of course. They're all society here First quarter derivative loss of fifty, four. Point -o eight billion year these are the lines that are coming through as we speak. And we keep a close eye on. The story. As in developed markets Yeah absolutely let's dig. Into our top stories in the meantime and as I say trade very much front and center. President, Donald Trump has defended his. Use of tariffs that have inflamed tensions with China as well as Europe he told an audience of diehard supporters on. Saturday that playing hardball on trade is, my thing Bloomberg's Tom MacKenzie has the details his comments came after Beijing announced plans to impose retaliatory duties on an additional sixty billion dollars worth of US goods if Washington continues. To ramp up tariffs China's list covers more, than five thousand. US products ranging from meat to. Ellen g if an acted they'd cover around seventy percent of, all US goods shipped to China in Shanghai Tom MacKenzie Bloomberg daybreak Europe Yeah Yeah so I just want to jump in here Marcus because we had some numbers. Here German manufacturing orders just run, run run through this down four percent month on. Month the estimate was for down half of one. Percents this is a sizable contraction on those journ determined June manufacturing orders something to bear in mind as we get into the conversation with Mark Cranfield from the markets live team and I wanna stay sick, back perhaps stay with the macro view on China initiated curbs on FX. Derivatives how is that playing out in the? Markets at the? Moment We'll probably not quite as well as China was hoping the currency the stomach. To gain a bit first thing, this morning but it reversed some of that as. The equity market sorry to weaken a bit and. They degree emphasize these restrictions are not just on the Ford foreign exchange server also another derivatives including swap transactions and option transactions but all in all the currencies only very mildly stronger than it was on, Friday and it hasn't really I did much to the gains that we're. Seeing in the first few minutes after the announcement on Friday I suppose the question. That follows then Mark is what needs to change to make these. Measures perhaps more effective in. Order to strengthen the the the you on in a more meaningful way it seems that Jerry does really. Want to see some stability in, the equity market so one of the things they were. Looking at today was that as soon as the equity market started to to go softer than the assumption. Is that the Chinese authorities would increase the stimulus or they're not, around the reserve requirement cuts to. Make interest rates lower, in China surf they're doing that then there's nothing in. The Ford market to support. The stronger currency so this currency can weaken it's almost becoming a catch twenty two. Situation for the, Chinese authorities until they can stabilize. The equity market the other things were not kicking so they really need to get. To grips with that. And then traders will be more confident that they really serious about trying to stabilize the currency as well All right we'll leave it there Mark Cranfield thank you very much for your time that quick reminder for real time, market commentary and analysis. Check out the markets lifelock that's m. l. i. v. on your. Bloomberg terminal now another story. Developing this morning earnings out of HSBC the banks second quarter profit came in ahead of estimates but the. CEO John Flint's push for growth, in Asia has yet to translate into significant revenue growth. That seems earlier we spoke to the finance director Ian MCI and asked him about the health of HSBC In good shape this morning The numbers Second quarter very much, in line With our our expectations So that, was the finance director Ian MCI? Speaking, earlier to Bloomberg yeah that's such an earlier Saudi Arabia. Has frozen trade investment diplomatic ties with Canada in the latest escalation of their dispute over the kingdom's arrest of a women's rights activists that we have come recalled its ambassador to Ottawa at order the Canadian envoy to leave. Within twenty, four hours last week Canada criticized Saudi, Arabia's arrest of activists including Canadian citizen Savar Dowie bear in mind that we did see dollar CAD move by about three, tenths of one percent but that spirit gains since the Bank of Canada on track to raise rates that's giving. A bit. Of support all right, sticking to the region Iran is racing to complete a string of deals before. The US imposes tough new sanctions Iran at the national flag-carrier has taken delivery of five new passenger planes this after. Washington gave its approval public resentment has been building as tensions with the US post the real to historic lows Close in the unregulated market the. Government says that it will act a later today to try to halt the currency's decline Yeah and then Brexit news you've got. The UK trade sector Liam Fox saying that negotiations are more likely to. The, failure and success, speaking to the Sunday Times he said there is a sixty percent chance of a not allowed come Bloomberg's, Alex Morales says he is, warning or, other rewarded comes as the government ratchet ratchets up rhetoric seeking EU compromise foreign secretary Jeremy hunt said last week Britain. Risks tumbling out to the block, without a. Deal by accident to government plans to publish some seventy technical papers this month next outlining contingency plans for renewed you Brexit it's not a prospect that business relishes. Bombarded warning the Press Association on Monday then a no do Brexit could encumber, it with thirty million pounds. Of. Added costs if it's forced to stop parts to allay disruption, to supply chain in London Alex Morales Bloomberg daybreak Europe okay that's the latest on Brexit when it comes to this morning. A forty two billion dollar merger to create what would become the world's largest industrial gas producer Is facing an unexpected hurdle from the US antitrust regulator that could derail the deal the Federal Trade Commission indicated it wants Germany's Linda and practice of the. United States to sell more assets before it approves their deal lindane noted a, quote higher likelihood that the. Requirements. May push total asset disposals to beyond the acceptable threshold outlined, in the merger deal all.

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China doesn't want a trade war, China state media says

01:58 min | 3 years ago

China doesn't want a trade war, China state media says

"I'm Bryan Curtis in Los Angeles let's get you. This hour's top business stories and the markets Chinese state. Media says the country is prepared for a longer term. Trade war with the United States and that China does not. Fear sacrificing short term economic interests one media outlet the times said that the US is trying to conclude trade disputes quickly in an editorial. The newspaper said that China, has to defend its right to develop but that Chinese, people do not want a trade war President Trump said. Over the weekend in Ohio at a rally that the US has. The upper hand, over China when it comes to trade issues the. President also said it's the United States that is responsible, for China's past, economic growth Google's plans for China or even more ambitious than. Previously understood Google is in talks with ten cent in spur group and. Other Chinese companies to offer its cloud services in China. This is according, to people Familiar with the discussion the Chinese Yuan has held onto its gains after a. Surprise move by the central Bank. To make it more expensive to bet against the currency the offshore Yuan has gained about two tenths of a percent in early Monday morning trade the last reading, is the CNN h the Chinese currency trading at six point. Eight three nine, nine against the US dollar JP Morgan chief executive officer Jamie diamond has. Told investors to, prepare for yields on the ten year treasury to be above five, percent rather than four percent the benchmark is still struggling. To push through three percent and in Tokyo this morning is trading with a yield of two point nine five percent thanks hang index is up. One point one percent the Nikkei is up about a half of one Bruce at the. Shanghai composite is now down four tenths of one percent global. News twenty four hours a day live and a tick tock on Twitter powered by twenty seven hundred journalists and analysts. In one hundred twenty countries He's in Los Angeles I'm Brian Curtis.

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Computer virus at A-series chipmaker TSMC could delay chip shipments for new iPhones

02:08 min | 3 years ago

Computer virus at A-series chipmaker TSMC could delay chip shipments for new iPhones

"Destroyed by these wildfires I'm barton And I'm Doug krizner at Bloomberg world headquarters in. New York let's check this hour's top business stories and the markets over the weekend j. p., Morgan. Chase EEO Jamie diamond said the US should be prepared to deal with the yield on the US ten year treasury of five percent. Or higher he said it's a higher probability than most people think right now in the, Tokyo session the ten year is trading at, two, point nine. Five percent the offshore Chinese Yuan is steady against. The dollar it was late Friday that the PBOC imposed a reserve requirement of twenty percent on some trading of foreign exchange. Forward contracts the move will make it more expensive to bet against, the currency, the economic, the economic the economic observer report the economic observer reported advisor saying you want won't break seven against the dollar earlier in the, Asian, session said a daily reference rate stronger against. The dollar and, right now the offshore currency is at six. Eighty three Three fifty eight Taiwan Semiconductor Manufacturing Co. is working to recover from a debilitating computer virus the company warned of delayed shipments along with reduction in revenue because. Of the impact on its factories TSMC makes chips for the iphone and other devices the company, said. Eighty percent of its fabrication tools affected by the virus outbreak on Friday evening have been restored and that it expects a full recovery. On Monday we have shares in TSMC down about six tenths of one percent we check, markets every fifteen minutes here on Bloomberg right, now, in Hong. Kong the hang sang is ahead nearly one point. Three percent the Shanghai composite is up two tenths of one percent in Seoul the kospi is higher by one half of. One percent in limited trading we've got the ASX two hundred in, Sydney ahead, seven tenths, of one percent and in Tokyo the Nikkei true twenty-five better by three tenths of one percent global news twenty four hours a, day, on air and a tick tock on Twitter. Powered by more than twenty seven hundred journalists and analysts in In more than one hundred twenty countries this is Bloomberg this.

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Heineken seals $3.1 billion tie-up with China Resources Beer, shares surge

Bloomberg Daybreak: Asia

05:20 min | 3 years ago

Heineken seals $3.1 billion tie-up with China Resources Beer, shares surge

"Inherent Singapore Juliette saly and I'm Doug krizner at Bloomberg, world headquarters in New, York so the action now. Up and running, in Shanghai and in the opening moments that composite. Index is down about two tenths of one percent after a drop of more than two percent in the previous session in Hong Kong meantime hang. Sang holding onto a gain of about two tenths of one percent was a lot of weakness in the market in Hong Kong. As well we'll take a deeper dive into markets momentarily right now this hour's top business stories we'll come secretary Wilbur Ross is signaling more trade pain for China. Unless Beijing changes it system he told, Fox News the administration will make it It harder to China, to continue what. He called it bad practices then it would be to reform but foreign minister. One year says the, tariffs also hurt American companies The US is trying to, put pressure on China but we don't think such an approach will work China is ready to. Talk to anyone. Who is ready to talk to us including the US. But this kind of dialogue has to take place on the basis, of mutual, respect and equality China has repeated it. Will never surrender to US, trade threat free time trade tensions aren't defecting the outlook on China for two money managers Tom mossy and Nuno Fernandez oversee trilogy, global advisors. This firm has one point two, billion in its emerging. Wealth fund mess as. Mossy and Fernandez believe most attractive investment opportunities in developing nations remain in Asia especially China, they mentioned, two, companies in particular one selling luxury spirits the other expensive toothpaste China has been increasing consumption of, high end products given rising wages, there along with government healthcare investments Nick I news is saying shop Will stop making, household appliances in Japan and fiscal twenty. Nineteen shop will end l. c. d. TV production at its strategic pants and. Stop making refrigerators in Asaka says the production will, move to its Hon Hai facilities in Thailand and. Elsewhere shops domestic facilities will concentrate on high value electronic components now she has a down almost, two percent but remember they rise about twelve percent of the prior to sessions on the back. Of that news. Of have preferred share buyback Heineken is pardoning with China. Resources beer holdings Heineken will pay three point one billion and four, that the, company will have a twenty rather forty. Percent stake in c. r., h. beer this is a joint venture with China Resources Bloomberg's Emma O'Brien tells us China's beer market is seeing a lot more, competition a. Lot of analysts do say that, it may have already. Paid here that the. Market is evolving which will be a challenge for Heineken there is a push towards more, premium brands, I, drink is becoming more sufficient Dicator so that will be something that Heineken we'll have to take on with this investment last year China Resources said it was looking to acquire brewers to keep its market lead in China China's struggling a group is said. To be examining options Fritz Avalon aircraft, leasing unit. We're told films backed by Hong Kong tycoons, Laker Shing and Henry Chang have held talks about buying a stake or some of evidence aircraft Avalon had a book value. Of. More than seven billion dollars at, the end. Of last year and has, the potential to be among h and as biggest disposals well here in the US CBS said that its second. Quarter net income rose boost by boosted by. Higher fees from its network affiliates and its subscribers this report comes as CBS. Is investigating CEO les Moonves says over sexual misconduct claims a writer for the Hollywood reporter said there, may be another moon vez story coming. Out soon moon vez surprisingly participated in the. Earnings call after the news bloomber Paul, Sweeney tells us this could be a strong sign moon vez is still confident. In his position at the company here's. One of the strongest presences in Hollywood relationships with everyone. But so is Harvey Weinstein CO the very strong company as opposed to the Weinstein company. Which was a much smaller entity so it remains to. Be seen but you know. At least at this stage everything seems to be status quo it's business as usual well to stock in CBS was down nearly two percent in late US trading whereabout thirty five past the hour right now let's get you caught up on where we stand in markets the offshore Chinese Yuan slightly a. Higher, but not by much where it's six eighty seven seventy three we broke that six eighty eight level during the New York session in terms of. The equity market Shanghai composite right now is. Holding onto a gain of about one. Tenth of one percent after selling down, more than two percent yesterday in Hong Kong meantime hang sang is up less than one tenth of one percent it too Dropped about two percent in the. Previous session in Seoul the kospi is a head one. Half of one percent and in Sydney the ASX two hundred, is better by about three tenths of one percent Nikkei two twenty-five benefiting from a slight pullback in the Japanese yen against. The dollar we're at one eleven. Seventy four talking, earlier about to be OJ intervention in the JJ be market. Nikkei right now is. Ahead, by three tenths of one percent and the US ten year treasury in the Tokyo session a smidgen under three percent. In yield terms Juliette s Magen will the first inspection of. The cases that have come back from, North Korea.

China United States Hong Kong China Resources China Resources Bloomberg Shanghai CBS Heineken Beijing Wilbur Ross Juliette Saly Hollywood York Bloomberg Secretary Juliette S Magen Fox News ASX Asaka Nikkei
Trump administration adds to China trade pressure with higher tariff plan

Bloomberg Daybreak: Asia

04:46 min | 3 years ago

Trump administration adds to China trade pressure with higher tariff plan

"Of the trading day fairly lacklustre session the full US equities at least by the. End at least five hundred done by about one tenth of one percent what are we looking at trade tensions Raisch in two. Words so US China trade remains in the spotlight yesterday we were hearing rumblings about the Trump administration considering higher tariffs. On some Chinese imports after the bell that became official will unpack that more deeply in a moment offshore, Chinese Yuan was down. Three, tenths of one percent in the, New York session we. Also had the fed kind of holding steady. That was. Widely expected and there are signs for gradual increases in, the future as the American economy does. Remain robust US tenure treasury last quoted in New York at a yield of three percent apple shares at a record high two thousand one fifty after the, forecast for fourth quarter sales above estimates the, company's market cap now. Nine hundred seventy five billion dollars You're right the industrials were down industrial average here, in the US off three, tenths? Of one percent NASDAQ composite though did pick up about one half of one. Percent many of the, energy producers followed the price of crude lower WTI giving back one and a half percent in. The New York session right? Now Chicago Nikkei futures a little. Bit below where we had Tokyo settling in. The cash market yesterday the active futures contract at twenty two thousand seven twenty-five rish get just going to pick up on what you started with that which was about. These retentions getting worse as China warns the United States against black mainly and pressuring. H over trade that up to the US proposed raising tariffs on two hundred billion dollars worth of imports from ten percent to. Twenty five percent Sarah McGregor is Bloomberg news economic policy team neither she thinks China wouldn't respond kindly to the official. Announcement when we spoke with the US today on this briefing called they said you know there are these, lower level discussions that. Go on but there's really no plan Specific engagement as they put. It and when we asked to as President Donald Trump spoke with Chinese president Xi Shing. Pay, about this lately favor referred back to the fact that the White House always tells us when there's been a call between Donald, Trump with another leader and we really have not heard about that lately though Trump often says he has a great personal relationship with the Chinese president US Trade Representative Robert lighthizer says the US remains open to negotiations with Beijing we heard from. Tesla after the bell stock, is trading higher, the company reporting that second quarter earnings did miss actually it. Was a wider than expected loss revenue was a beat Bloomberg's, imacs chaff, can tells, us that investors are now focussed on funding for, Mr. Elon Musk's future projects You. On musk has talked about an SUV a smaller SUV than the model x. he's also. Talked about a pickup truck a semi a Chinese factory all. Those things are gonna cost huge amounts of money but it. Appears that basically the big expenses are gonna come. Till, next year so maybe he'll be. Able to swing it he. Has been insisting and did so today that the company will not need to raise. More capital this year Well let's look at what it was absolutely no surprise whatsoever. From the fed is held its key rates. Steady that signals though there was some fool gradu- increases in the future as the economy remains robust reporter issue They said economic. Activity has been strong instead of solid which the word they. Use in the last statement and also they mentioned the household spending has strong instead. Of picked, up, which also used in the last statement what this. Shows there's a federal really confident about the economy and suddenly disappear temporary hike is down THEO and also a hiking in December is. High probability. Event interestingly US China trade friction of was mentioned in the fed statement we go to the tax base now and word. That Google's parent company, is preparing to launch a censored version of its. Search engine in China we have the story. From Bloomberg's Ramy Inocencio we're told the new app woodblock terms and search results considered sensitive by Beijing the, project codename Dragonfly. And, it's one of several options that. Companies. Exploring the timing is still up in the air the move, would market abrupt, about-face for the company and a win for China's communist government who will co founder Sergey Brin Led a dramatic exit from mainland China in two thousand ten after the company refuses self-censor search content but. He's since step back, from day to day operations in Google is now. Run by CEO cinder chime today many Google. Employees were said to be angered by the news that news also sent by down eight percent Remy incensio, Bloomberg daybreak Asia All right we are at six minutes past the hour let's get you caught up on global.

United States China New York President Donald Trump FED Chinese Yuan Beijing Official Bloomberg Google Mr. Elon Musk Tesla Sergey Brin Ramy Inocencio Remy Incensio Tokyo
"chinese yuan" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:36 min | 3 years ago

"chinese yuan" Discussed on Bloomberg Radio New York

"Run by Jan how capital management. And, modus asset management, also slumped, or at China master and pinpoint China funds. Also taking hits eurekahedge says China focus Lawson average Four point four percent in the month and, inflows have slowed to a trickle modus call the sell off in China a, panic stampede but says government. Moves to cut income taxes and lower import. Tariffs would help call markets in Hong Kong Yvonne man. Bloomberg daybreak Asia we talk, a lot on the program about credit defaults in China. Will, now they are putting the spotlight on, China's credit. Rating companies is Bloomberg's Rishaad Salamat tells us in spite of a record pace of defaults this year record rating companies have. Been quiet don't count on Chinese credit rating companies to, flash warnings before companies default Madison lesson of. Wintertime energy it imploded this month into China's, biggest default of the at least so far but it'd happened without a single Chinese credit rating companies sounding the alarm with the downgrade, economists analysts say, that's in part. Because until recent years China's government, didn't let, companies, default, Chinese Regulators have issued warnings to. Five Chinese ratings firms at this year's they try. To prod the ratings companies to do better without. Taking things too far in Hong Kong I'm Rishaad Salamat Bloomberg daybreak Asia we're at thirty, four past the hour time to get you caught up on market action a lot of our focus has, been on what's, happening in, the foreign exchange we've got a much weaker Chinese Yuan offshore now it's six eighty four thirty four, that. Drop is, about. Six tenths of one percent against the dollar about twenty minutes ago the PBS's slash the daily reference rate for the one by. About four tenths of one percent setting it at the lowest level in a year it's kind. Of curious too because this was, pretty much in line with the average estimate of. Those analysts that. We surveyed the dollar remains, firm. With the Bloomberg dollar spot index higher by less than one tenth of one. Percent the Japanese yen right now reversing some earlier weakness it's now stronger by two tenths of one percent and that probably has one of the reasons that we're seeing the Nikkei offset Highs although the. Nikkei holding onto, gains of about four tenths of one percent in Seoul the kospi. Is higher by. About two tenths of one percent in Hong Kong the Hang Seng now three tenths of one percent. Higher Shanghai composite is up seven. Tenths of one percent and in Sydney the sex two hundred is up by about one. Half of one percent so we're seeing relative strength in the equity markets across. The Asia Pacific and where the US tenure. Treasury is concerned in the, Tokyo session. The yield holding steady relative to where we were at the end of the New York. Session we are now at two ninety five Julia will the US says it's going to put, major pressure on Iran Ed Baxter is covering all. The global news in the Bloomberg nine sixty San Francisco newsroom Ed to they're talking about tightening sanctions Juliette Trump administration deploying. The same type of tactics at did with North Korea in all caps tweet from President Trump to president. Rwanda saying any threats our actions will bring consequences. The likes of which few throughout the history of, the world have suffered before secretary of state Mike Pompeo says maximum pressure on Iran's ability. To move money the center of this campaign is the reimposition of sanctions on Iran's banking energy sectors as, we've explained. Explained over the last few weeks are focused to work with. Countries importing Iranian crude oil to get imports as close to zero as possible by November fourth Iran says then it can cut oil supplies. Will cause production and supply ripples around the globe US issued an advisory to people doing or..

China Bloomberg Hong Kong Iran Asia Rishaad Salamat Hong Kong Yvonne US Higher Shanghai Mike Pompeo Juliette Trump Rwanda Asia Pacific Hang Seng Seoul New York
"chinese yuan" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:26 min | 3 years ago

"chinese yuan" Discussed on Bloomberg Radio New York

"World a memorial service has been held in Branson Missouri today for the seventeen people who were killed when a tour boat capsize a. Church bell rang seventeen times at the college of the Ozarks to honor the. Victims the National Transportation Safety board is investigating the disaster with plans to recover the. Vessel so as some features headed lower down by five, points the NASDAQ futures down twenty the Dow futures off. Thirty I'm Ann Cates I'm, Doug krizner at Bloomberg world headquarters in New. York let's check this hour's top business stories and the markets the US dollar remains. Lower against the majors we've got the. Bloomberg dollar spot index down by nearly two tenths of one percent this after slumping eight. Tenths of one percent on Friday when President Trump said the dollar's recent gains combined, with the recent weakness of, the Chinese Yuan, risks putting the, US added disadvantage right now the offshore Chinese Yuan is trading stronger against the dollar. By one tenth of one percent to six spots seventy six forty two against the dollar now at the g twenty summit of finance. Ministers over the weekend US Treasury Secretary Steven Mnuchin said there is no chance. Of a currency war erupting the statement from the ministers warned the trade tensions threatened. Global growth had said global growth remains robust and many, emerging market countries are better prepared to face crises however. Risk to the world economy have increased the bank of japan conducted fixed rate bond purchases earlier for the first time since february this move came after yields on local government debt jumped in the u._s. bond space the ten year treasury in the tokyo session is now yielding two point eight nine percent we check markets every fifteen minutes here on bloomberg right now we're seeing strengthen the japanese yen against the dollar the yen is stronger by four tenths of one percent to one ten ninety five and that is weighing on japanese equities with the nikkei down one point two percent right now in hong kong hang sang weaker by one tenth of one percent the korean won against the dollar is stronger by four tenths of one percent in the korean equity market the kospi is down six tenths of one percents and in sydney the s._x. two hundred is down eight tenths of one percent on the mainland in china the shanghai composite is higher by one tenth of one percent global news twenty four hours a day on air and a tick tock on twitter powered by more than twenty seven Hundred journalists and analysts in,.

bloomberg US Chinese Yuan Bloomberg world Branson Missouri National Transportation Safety Ann Cates hong kong japan twitter President Steven Mnuchin Doug krizner York Trump china tokyo sydney
China says it won't devalue currency to bolster exports

The Income Strategies Show

04:32 min | 3 years ago

China says it won't devalue currency to bolster exports

"Morning I'm Doug krizner at Bloomberg world. Headquarters in New York and I'm Rishaad, Salamat in Hong, Kong likely to be shaping up for the Asian trading day of course Doug we all starting off with a, brand new week very much focused on the foreign exchange ratio. Because the President Trump has you know said recent weakness of the Chinese Yuan combined with the recent gains. That we have, seen in the dollar really risk. Putting the US at a disadvantage we had the, dollar. Retreating against the majors in the Friday session during a New York trading with the Bloomberg dollar spot index dropping. About eight. Tenths of one percent we closed right at. That fifty day moving average meantime the Japanese yen jumped nine tenths of. One percent we also had the. President saying he's not. Thrilled that. The, fed is. Raising interest rates and potentially slowing the economy let's not forget the. Trade issue too because at the end of last week President Trump declared he was ready to. Impose tariffs on all five Five hundred billion dollars worth of, Chinese imports US ten year treasury last quoted in the New York session Friday at around two. Point eight, nine, percent on Sunday Iran's president warned President Trump not, to threaten Iranian oil exports now the president has vowed to shut Iran, out of, world markets by demanding that other countries stop buying Iranian crude by the end of November however Hassan Rouani was saying do not play with the lion's. Tail it will bring regret WTI in the New York session Friday finished at sixty eight twenty six we're trading off about. One tenth of one percent right now against. That and because of the big move. In the end, we're seeing a little bit of weakness right now. In Nikkei futures rish Yup we, also go there's winning from the g twenty the world's top finance chief saying trade. Tensions threatening a global economic growth the. G. twenty statement says the main risks, rising financial valid, vulnerabilities heightened trade and geopolitical tensions global imbalances inequality And structurally weak growth factory Espy is in one is that he's covering the gathering dominated, the conversation here And there, is concerned that that some of the emerging markets such as Argentina could be impacted by the market volatility trade complex could create The statement also said emerging. Markets also face the threat of capital outflows the g. twenty by the way removed its. Usual pledge to stay away from competitive currency devaluations we got the. Dollar, trading against the Chinese Yuan right, now at six seventy eight thirteen we're watching. This, very carefully after the president accused Beijing on Fridays well as the European Union of gaming their currencies in a way, to boost exports now these remarks come after the president lashed. Out at the fed and threatened to ramp. Up the trade fight with, China even more peo- Matisse. Is EM FX strategist at Robbo Bank he says the could keep. Weakening from here whenever a central Bank launches Kiwi, currency tends to weekend so we expect the you want to remain on the back foot so we may see some stubby around six eighty but we might find bullish on now that sentiment is echoed by others including Frederic Neumann of HSBC. Newman also saying the BBC appears to have more stomach for volatility than it used to All right Ratio are? You there Does China is what really where I wanted to talk about it because it appears to be collecting more fans as it moves. Toward its Hong Kong IPO wearing hill has got Alibaba agreed to join. A group of cornerstone investors allows the Dow ten firms agreed to, by about one point four billion dollars in stock hill houses putting in about four hundred, million dollars and Todd but one hundred million sanitize expected to start. Taking investor orders today the IPO could raise around about eight billion dollars making it one of the biggest. IP as, in years right now I have Pfizer putting indications are shares will price in Hongkong dollars between one dollars twenty six, hundred. Dollar, fifty eight Doug well we have the former head of Fiat Chrysler in the intensive care unit because, of deteriorating health news agency, onset saying that Sergio Mark Joanie. Is in irreversible condition the automaker yesterday naming be fifty four year old Brit Mike Manley, to replace him. Bloomberg's Denise Pellegrini Tells us the choice shows that, Fiat Chrysler thinks the future is all about Jeep Manley's been head. Of Fiat Chrysler automobiles Jeep brand since two.

President Trump Donald Trump New York Bloomberg Doug Krizner United States Hong FED China Fiat Chrysler Fiat Iran Mike Manley Chinese Yuan Pfizer Sergio Mark Joanie European Union Of Gaming WTI
Trump accuses China of currency manipulation

Marketplace All-in-One

02:32 min | 3 years ago

Trump accuses China of currency manipulation

"Let's move on to the second chapter. In this week's US China chronicles President Trump today accused Beijing of manipulating it's currency. This is not a new charge. But one thing that has happened is an eight percent fall in the Chinese currency against the dollar since the trade spat began in the spring. And that does happen to help Chinese exporters which means now we not only have talk of a trade war but of a currency war as well. Marketplace's. Scott Tong are former bureau chief and Shanghai reports. In contrast to President Trump, Chinese policy makers aren't always so overt about punching back, but an eight percent drop in the currency. The Yuan. Yeah, that seems at least partially on purpose says economist, Bill Adams, with PNC financial services. It was telling me that the Chinese Yuan was appreciating against the US dollar in the first quarter of twenty eighteen and the depreciation of the UN began after the US started. To enact tariffs on Chinese imports. Here's how depreciation helps Beijing. It's about to get hit with a second round of US, tariffs, ten percent taxes on two hundred billion dollars worth of Chinese soya sauce, vacuum cleaners, fridges all kinds of stuff. So prices will go up but a cheaper currency pulls prices back down effectively in offsets, Brad sets are international economics fellow at the council on foreign relations. I think a week or currency is probably the easiest way for China to limit the trade impact of US tariffs. But there are risks China's weak. Currency already has President Trump threatening a broader trade war. Further, depreciation almost certainly would have been expected to have produced a political reaction in the US and a week Yuan also called the renminbi spooks investors in China says a communist Derrick scissors at the American Enterprise Institute. So the number one concern for the Chinese is they have to go slow and not alarmed people. Remember because otherwise they'll sell, they'll sell, you know, assets and the Chinese stock market. They'll sell Chinese bond holdings, etc. And they'll take the money out of the country. It's a trade off, perhaps a realistic trade in a trade war. I'm Scott Tong for marketplace. Please indulge me for just a minute. We have just launched something I'm pretty excited about for all you. Alexa users. It helps you get smart about the economy, pop culture, tech and everything that's going on. I will try not to set off your acco, but all you have to do say Alexa, make me smart, and you'll get a new explainer. Every weekday from.

United States President Trump China Scott Tong Beijing Alexa Bill Adams PNC UN Brad American Enterprise Institute Renminbi Eight Percent Two Hundred Billion Dollars Ten Percent
US, President Trump and China discussed on Marketplace All-in-One

Marketplace All-in-One

02:32 min | 3 years ago

US, President Trump and China discussed on Marketplace All-in-One

"Let's move on to the second chapter. In this week's US China chronicles President Trump today accused Beijing of manipulating it's currency. This is not a new charge. But one thing that has happened is an eight percent fall in the Chinese currency against the dollar since the trade spat began in the spring. And that does happen to help Chinese exporters which means now we not only have talk of a trade war but of a currency war as well. Marketplace's. Scott Tong are former bureau chief and Shanghai reports. In contrast to President Trump, Chinese policy makers aren't always so overt about punching back, but an eight percent drop in the currency. The Yuan. Yeah, that seems at least partially on purpose says economist, Bill Adams, with PNC financial services. It was telling me that the Chinese Yuan was appreciating against the US dollar in the first quarter of twenty eighteen and the depreciation of the UN began after the US started. To enact tariffs on Chinese imports. Here's how depreciation helps Beijing. It's about to get hit with a second round of US, tariffs, ten percent taxes on two hundred billion dollars worth of Chinese soya sauce, vacuum cleaners, fridges all kinds of stuff. So prices will go up but a cheaper currency pulls prices back down effectively in offsets, Brad sets are international economics fellow at the council on foreign relations. I think a week or currency is probably the easiest way for China to limit the trade impact of US tariffs. But there are risks China's weak. Currency already has President Trump threatening a broader trade war. Further, depreciation almost certainly would have been expected to have produced a political reaction in the US and a week Yuan also called the renminbi spooks investors in China says a communist Derrick scissors at the American Enterprise Institute. So the number one concern for the Chinese is they have to go slow and not alarmed people. Remember because otherwise they'll sell, they'll sell, you know, assets and the Chinese stock market. They'll sell Chinese bond holdings, etc. And they'll take the money out of the country. It's a trade off, perhaps a realistic trade in a trade war. I'm Scott Tong for marketplace. Please indulge me for just a minute. We have just launched something I'm pretty excited about for all you. Alexa users. It helps you get smart about the economy, pop culture, tech and everything that's going on. I will try not to set off your acco, but all you have to do say Alexa, make me smart, and you'll get a new explainer. Every weekday from.

United States President Trump China Scott Tong Beijing Alexa Bill Adams PNC UN Brad American Enterprise Institute Renminbi Eight Percent Two Hundred Billion Dollars Ten Percent
Murdoch Caps Long Career by Laughing All the Way to Bank

Bloomberg Markets

02:19 min | 3 years ago

Murdoch Caps Long Career by Laughing All the Way to Bank

"R. a. dot net The brewing trade war is moving into currency markets the dollar weakening yet again after President Trump complained, on Twitter that the greenback is getting stronger is also. Criticizing the Federal Reserve raising interest rates Lucy. McDonald the chief investment officer, for global equities at Ali on. Global investors the timing that I would suggest is to, do with the concerns, about currency if there is a feeling that the trade tensions are moving into a. Currency war event he would definitely want to be involved in, that will say that from the reading. Of the timing that would, look to be the case, Federal Reserve has raised interest. Rates five, times since, President Trump took office and China's currency and focus again after the country's central Bank weakened it's fixing by the most in more than two years Leland Miller is CEO. China beige book, international it's definitely. Trade, were related but China's not, devaluing the currency. They're just not stepping up to prop it up six seven may worry markets but, it's not the place where, the PVC wants to step in to stop. This so I think the two critical number One six nine six nine. Is where President Trump. And, inherited that you want and if, it gets any weaker the NAFTA means if you want has weakened on his watch, that's not, a good symbol it's something that the Chinese would really be prodding. And poking President Trump if they knew that the Chinese Yuan has declined more. Than four percent over the past month j. p. Morgan Chase has the decade-long bull market, at US stocks has more room to run the banks asset management team forecast that US equities could keep gaining for another two and a. Half years at the same time, j. p. Morgan warns that returns won't be as high as in the past Rupert Murdoch cemented his reputation, as a great media dealmaker he's poised to complete a. Seventy one billion dollars sale of selected twenty-first-century. FOX assets to Disney now, that Comcast has dropped out of. The running Bloomberg billionaires index estimates Murdoch is worth eighteen, billion dollars he's dance, to add about three billion of business stock to that fortune at billionaire Peter Thiel. Is considering strategies to invest in Chinese Startups Bloomberg has learned that the oil is weighing different approaches for investment including raising a fund. Or entering a partnership feel was an early investor in Facebook and. Co-founder pay pal just ahead a check. Of the markets this is Bloomberg global news twenty four hours a day at Bloomberg. Dot.

President Trump Rupert Murdoch Bloomberg Federal Reserve China Morgan Chase ALI United States Chief Investment Officer Twitter Facebook Mcdonald Chinese Yuan Lucy DOT Co-Founder Leland Miller Peter Thiel CEO
"chinese yuan" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:07 min | 3 years ago

"chinese yuan" Discussed on Bloomberg Radio New York

"Way on prices, updates ducks adding driving sentiment, let's get the details Charlie Pellett. And his Wall Street rap the Dow Jones industrial average made it five in a row equities advanced led by gains in financials and industrial companies, after Morgan Stanley earnings beat forecasts helping to offset a slide in tech names that included apple and Microsoft Michael Purvis is. Chief global strategist at Wedeman company are we in the fifth inning of, the game the US economic cycle a seventh inning or at the top of the ninth I think that understanding that and. Because there are some unknown unknowns about how the fiscal, stimulus we got. Last winter was really actually applied the s. and p. five hundred index picked up six points. Gain, of two tenths of one percent Dow industrials Up seventy nine higher, by three tenths of, one percent NASDAQ, was, little, change, down. Half a point in New York Charlie, Pellett, Bloomberg daybreak Asia and it's twenty seven. Minutes before the top of the look at the markets and what we can expect here in the, Asia Pacific, futures pointing up we've got Hang Seng index futures up about a half of. One percent footsie China. Eight fifty futures also up by a similar margin and Australian futures pointing upwards. Of about two tenths of one percents Nikkei futures. At twenty two thousand eight eighty, and if we. Look at the cash market close, yesterday it was a positive session so it looks like we may put, on about ninety points or so at the open. But I mentioned the tone here in Asia is, still very cautious yesterday, we had many many markets in the green for much. Of the early part of the day only to finish in the red later on and we do have a much weaker Chinese currency the offshore Chinese currency the six point seven four six two these are about one year lows here boy. The currency Oh and the clothes in. The onshore Chinese Yuan were six seventy one eighty nine the. Dollar was a little bit, stronger overnight it's kind of flattening out here a little in Asia dollar yen won twelve eighty six we spent a lot of time yesterday around one. Thirteen the euro is at dollar sixteen and the oil price WTI crude predictions of, more. Or less.

Asia Charlie Pellett Dollar Asia Pacific Morgan Stanley Michael Purvis Chinese Yuan US apple Wedeman company New York Microsoft Bloomberg one percent One percent one year
Micron barred from selling chips in China, rival says

Bloomberg Daybreak: Europe

02:30 min | 3 years ago

Micron barred from selling chips in China, rival says

"In paris frankfurt or brussels good morning everyone i'm nara chayhitch marcus carlson and i'm markus karlsson good morning it helps if actually pressed the little button that turns my microphone on doesn't it we've been looking at another day all the losses over in the asian session even as the chinese yuan recovers from its recent losses equities in mainland china and other markets still under pressure hong kong for instance down by as much as one point four percent i'm talking there of course about the hang seng index at the same time though the asia pacific index has been preparing previous lawsuits still down though still in negative territory of by about two tenths of one percent the topics in tokyo closing marginally higher european futures they are pointing to a weaker open for european equities as well euro stocks fifty futures off by quarter of a percentage point we're seeing footsie futures off by tenth of one percent dax futures by one third of one percent when it comes to ethics the chinese yuan still very much in the spotlight it is rising though for a second day after the pboc pledged yesterday to keep the currency stable both the onshore is what is the offshore yuan rising the offshore by six tenths of one percent the dollar remains under pressure for second day against other major currencies with the bloomberg dollar spot index now at a three week low of about two tenths of one percent all prices rising today with wti currently climbing by let's see run about half of one percent at seventy four dollars and forty eight cents let's turn to our top stories marcus on a chinese court has temporarily banned micron technology from selling chips in china cutting the us company off from the world's largest semiconductor market that's according to microns taiwanese rival umc which says a payton ruling was issued in its favour blocking micron from selling twenty six products in the country bloomberg's ian king says this impacts microns dynamic random access memory from the us perspective from the market here investors in micron stock here on something of this magnitude is not what i wanted to be reading about micron says at this point it hasn't been served with an injunction at the same time we've been hearing about thi this as the shares have jumped after the company was handed a lifeline and allowed to resume business in the us at least temporarily the band though that's been put in place on said t e business may already be hurting the company this is bloomberg understands that the firm lost out to erickson for six hundred million euro contract supply wireless equipment to win trae which is a.

Ian King Erickson Payton United States Asia Markus Karlsson Brussels Paris Frankfurt Bloomberg China Pboc Tokyo Marcus Carlson One Percent Seventy Four Dollars Four Percent
China drags on Asia shares, politics on euro and peso

Democracy Now

03:37 min | 3 years ago

China drags on Asia shares, politics on euro and peso

"Radio we did see asian stocks capping their worst quarter since two thousand fifteen on friday they've kicked off this week on a negative note as well with the benchmark mci asia pacific index off by about eight tenths of one percent where seeing japanese shares leading the way lower here the nikkei two five index off by one point four percent hong kong is closed because of a national holiday we're seeing the shanghai composite and also off by about one point one percent so chinese sheds receiving their declines we did see a little bit of a left on friday but as i say we're zooming declines looking into the fx space the bloomberg dollar spot index lifting by about a quarter of a percentage point we are seeing euro dollar coming under pressure german politics very much in the spotlight your trading at one spots at sixteen forty eight we're also looking at chinese yuan off by about two tenths of one percent mexican peso very much in the spotlight now declining by half of one percent against the us dollar we'll talk more about that in just a moment all prices slipping this morning after a rather bizarre weekend donald trump tweeted that saudi arabia had agreed to increase our ports only for those comments to be walked back by the white house wti this morning at seventy three dollars and twenty nine cents declining by about one point one percent yousef marcus let's get onto our top story andrea lopez oberdorf is poised to become mexico's i left wing president in decades with exit polls showing he's headed for a landslide victory actually just finished a speech in mexico city survey by the newspaper el financiero gave lopez oprah door who's about to end graft and violence forty nine percent of the vote ahead of candidates from the two business friendly parties even though no official results of this is supporting the public just yet the numbers were decisive enough for the two main challengers to concede and as i said earlier we have of course seen the mexican peso respond to this election results we're going to talk more about the market reaction now we're going to cross over to singapore where wes goodman from the markets live team joins us wes let's pick it up then with the mexican peso it jumped as address manoel lopez alberto won the presidential election those gains have fizzled out what's the outlook for the currency now yes hi good morning everyone i think just because he won the vote the vote is over there was a bit of a relief rally and when i say a bit you know it was even a bit surprising to me how quickly the thing reversed it already has given up its gains and his falling now well remember the mexico peso fell eight percent in the second quarter and the reasons for that are still in place the us dollar is rising and president trump in one of his latest tweet said he's still not happy with nafta and there's concern that more broadly us tariffs will dampen or reduce overall trade overall global trade you know so i i i thought the currency market was going to give him a bit of a honeymoon but now looks like he's not gonna get one after all yeah the folks at that mizuho meghan td securities underscoring than a lot of this has been already priced in and a lot of it depends as well on what cabinet comes together the other big story from china really dragging down the broader asian asian gauges as it were tiny stocks falling again after capping a six week of losses on friday kenny they recover as the us and china plan to implement trade tariffs this this week i.

One Percent Seventy Three Dollars Forty Nine Percent Eight Percent Four Percent Six Week
"chinese yuan" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:57 min | 3 years ago

"chinese yuan" Discussed on Bloomberg Radio New York

"Economists david powell and tom orlic off authored the special report and david powell joins us now to discuss their findings screenings so let me ask you why are we talking trade war when as you point out near the top of your report that the latest us treasury fx report doesn't name china or anyone else as a currency manipulator and yet we've got the treasury secretary talking about a trade war why is it so big and yet we haven't even called anybody currency manipulator well the us treasury has refrained from calling china currency manipulator but that doesn't mean it's always going to to do so it is constantly under review the us treasury reviews that in a regular basis and long before the present trade war if you want to call that came about with the announcement of the most recent tariffs long before donald trump is president of the united states the us government has been concerned about the level of the chinese yuan has threatened to label it a currency manipulator is a longstanding issue hasn't gone away and in any trade war any discussion of trade global trade currency is always going to come into play a particularly the currencies of countries that don't allow them to float freely and they they manage them through foreign exchange intervention and so even though china's not there right now if this were to be ratcheted up the us for wanting to be more aggressive with china it could take that step anytime and labeled a currency manipulator because of the intervention that china doesn't the foreign exchange markets now this is just a brief reference at the beginning of your report but i am intrigued by it you also point out that from the last two and a half years china's policymakers have been intervening to prop the one up not hold down that seems counter to what we've been hearing.

david powell us treasury donald trump president china tom orlic
"chinese yuan" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:04 min | 4 years ago

"chinese yuan" Discussed on Bloomberg Radio New York

"Four of the program i'm doug christner at bloomberg world headquarters in new york and i'm paul allen and sydney for a look at how things are shaping up for the asian trading day his blamed big brian curtis so what are the big mover is this morning in asia and there's a whole lot of them darrow the chinese yuan toshiba bitcoin and china's stocks i don't know if i have enough time to get all of them but you know by now if you've been listening to the program the euro declined quite a lot after german chancellor angela merkel well that works broke down on forming a coalition government and so we had the euro dropping about half of 1 percent we're at one seventeen forty three all right now and in some of the other news alibaba is tabada by twenty six percent in some detail nineteen point nine percent the company that holds about fifty one percent of sun are retail so in total taub all is to take a thirty six percent stake in sonar retail as some five hundred hypermarket complexes in china and mention toshiba down four percent toshiba seeking five point four billion i won't going through sales because the guys will have that for you coming up next the dollaryen right now at one twelve even so he's seen a pretty big move in the yen as well the bloomberg dollar spot at eleven seventy two recovering just a little bit and the chinese yuan has been sinking up a little bit in tandem with the euro although not to the same degree the cnh for the moment down about a tenth of one percent bit kgb mentioned that bitcoin recovering eight thousand now at eight thousand and one we touched eighty one hundred earlier and china's stocks well more selling as i mentioned the d leveraging campaign is still some investors shanghai composite down forty two and the shenzhen composite down thirty think it was confucius who said when the bitcoin music stops there may be a lack of chairs with we'll have to wait and see on that we go to japan next uh but is planning to raise about five point four billion dollars to avoid being removed from the tokyo stock exchange bloomberg's asia tech reporter hobble a pie of gives us the.

japan asia stock exchange tokyo shenzhen chancellor toshiba paul allen bloomberg world tech reporter bloomberg doug christner confucius cnh sonar retail alibaba angela merkel china brian curtis sydney new york four billion dollars thirty six percent twenty six percent fifty one percent four percent nine percent one percent 1 percent