17 Burst results for "Hang Tang"
Bloomberg Radio New York
"hang tang" Discussed on Bloomberg Radio New York
"The hamstring injury suffered in the Chargers week one win over the Las Vegas Raiders. The chiefs, meanwhile, will be without kicker Harrison bucker, who is nursing an ankle injury. On Dan schwarzman that your Bloomberg world sports opd 8. Markets, headlines and breaking news, 24 hours a day. At Bloomberg dot com, the Bloomberg business app. And at Bloomberg quick tape. This is a Bloomberg business flash. Hi everybody, 13 minutes before the top of the hour, I'm Brian Curtis in the Bloomberg interactive broker studio in Hong Kong, so those three headlines that I gave you a few moments ago, you could probably put those in the recession, what recession category, so let's run through them one by one. New Zealand's economy growing more than expected in the second quarter, GDP rising 1.7% from the first quarter, Japan's trade deficit expanding to a record in August. I guess the economy was strong enough to bring in imports to the tune of a gain of 49.9% in value from a year ago. Now we know that that was inflated by a weaker yen, but still, and then also just that latest data point out of Australia, August employment rising 33,500 month on month, so it just complicates this story. We had a big sell off in global equities a day ago and today a little bit of recovery, so you're seeing some modest rallies. The index is up about four tenths of 1%. The hang Tang tech index is slightly lower though. The CSI 300 in China, three tenths of a percent, similar rallies in Taiwan and Singapore. Right now in Tokyo, the nikkei is up a tenth of a percent, and one of the better performers the SX 200 up about 6 tenths of 1%. The dollar is a little weaker here, dollar yen one 43 O one, the Euro at 99.78 U.S. cents, very little change really here. The Aussie dollar at 67.55 U.S. cents, a bit of a rebound in both ether and Bitcoin this morning Bitcoin up 1.1% gold is tracking sideways, WTI $88 and 51 cents. We did have a softer PPI report in the U.S. and that set the tone on Wall Street. The S&P 500 gained back a third of a percent, but let's not forget. The downdraft, the day before, 4% on the S&P, and 5% for the NASDAQ, and that is a check of markets. And let's get to headline news with Denise Pellegrini and the Bloomberg newsroom, Denise. Thank you, Brian, Vladimir zelensky has been in a car crash a spokesperson says
Bloomberg Radio New York
"hang tang" Discussed on Bloomberg Radio New York
"I'm Doug Kushner and Bloomberg world headquarters in New York Let's check this hour's top business stories and the markets after the bell in the U.S. Disney reported quarterly sales and earnings that handily beat analyst forecast Subscribers to the company's flagship streaming service Disney+ jumped to a 129.8 million We had shares in Disney higher by more than 6 and a half percent in late New York trading We also heard from Uber after the bell the company reported quarterly revenue above estimates as Uber recorded its most active users in its history and this helped mute disruptions in ride sharing and boosted gains in food delivery we had revenue for Uber rising 83% in the last quarter to $5.8 billion The stock was up nearly 6% in late U.S. trading Western Digital and its manufacturing partner kioxia say contamination of materials used in the production of flash memory chips has hurt output at two Japanese factories Economist Susan Collins has been appointed president of the Boston fed bank She will become the first black woman to lead one of the 12 regional fed banks Collins earned a PhD in economics at the Massachusetts institute of technology She is currently on faculty at the University of Michigan She'll take charge at the Boston fed on July 1st and tomorrow CPI report here in the states is expected to show American retail inflation continues to run hot A hot reading has the potential to stoke more bedding on a much more aggressive fed We check markets every 15 minutes here on Bloomberg right now in Hong Kong the hang Tang down three tenths of 1% In Tokyo the nikkei hire by just a tenth of 1% on the Chinese mainland Shanghai composite a patent of 1% The cost be flat and in Sydney the ASX 200 higher by a tenth of 1% Global news 24 hours a day on air and on Bloomberg quick take This is Bloomberg.
Bloomberg Radio New York
"hang tang" Discussed on Bloomberg Radio New York
"That Bloomberg our market vision is 2020 So let's talk about the paying trade I am shocked by the moves that we're seeing in the rates market The inflation debate continues Bloomberg radio the Bloomberg business app and Bloomberg radio dot com Broadcasting 24 hours a day at Bloomberg dot com and the Bloomberg business act This is Bloomberg radio Now a global news update Senator Bernie Sanders says the Arizona Democratic Party censure of senator Kirsten sinema was the right thing to do They are moving at a very very anti democratic way And it was absolutely imperative that we changed the rules so that we could pass strong voting rights legislation Appearing on NBC's meet the press the Vermont independent praised the Arizona arm of the party for condemning cinema's vote to keep the Senate filibuster in place along with senator Joe Manchin her decision killed the passage of two major voting rights bills Pope Francis is urging for prayers to bring peace to the Russian Ukraine crisis during today's celebration of mass and Bible study at St. Peter's Basilica the Pope issued the call to action announcing an international day of prayer for peace this coming Wednesday the 26th There was a sea of blue Sunday as NYPD officers lined the streets of Manhattan for the dignified transfer of the body of fallen cop Jason Rivera David folk Thomas reports A police motorcycle escort leading the procession from the medical examiner's office on east 26th street to the Riverdale funeral home in the inwood neighborhood Members of the FDNY and EMS along with mayor Eric Adams joining the officers and saluting Rivera as his remains arrived Rivera's funeral is scheduled for Friday morning at Saint Patrick's cathedral The 22 year old rookie officer was shot and killed this pass Friday after responding to a domestic dispute call in Harlem David folk Thomas reporting one of the best players in Gonzaga's men's basketball history will not be able to attend home games for the time being the spokesman review is reporting that Gonzaga is suspending John Stockton's season tickets because he won't follow the school's mask mandate The 59 year old Stockton who was notably against COVID-19 vaccines played at Gonzaga from 1980 to 84 before a Hall of Fame career with the Utah Jazz I'm Chris garageio The spread of the Akron variant in New Zealand is causing their prime minister to cancel her wedding plans Scott Carr reports Prime minister Jacinda Ardern was planning to marry her longtime partner TV presenter Clarke gayford sometime during that hemisphere summer in New Zealand pop star lord was even set to play but Ardern said during a news conference her wedding would have to be called office her country struggles with a sudden surge in the outbreak of the amaron variant Our turn says such is life And to anyone who's caught up in that scenario I'm so sorry but we are all so resilient and I know we understand that we're doing this for one another The country now with our highest pandemic response level I'm Scott Carr Semiconductor giant Intel is planning to open a $20 billion chip plant in Ohio sometime in 2025 Company officials made that announcement yesterday noting that the plant will employ upwards of 3000 people who reportedly will earn average salaries of a $135,000 a year The plant will be located on a thousand acre property near Columbus General Motors is announcing plans to invest $154 million in a New York factory to build electric vehicle components Matt Matson has more The lockport components plant will make the power plan for upcoming all electric vehicles that are scheduled to be on the road in 2025 GM's altum platform is its own system that will be put in future EVs and trucks The investment will also create around 230 new jobs the automaker was recently awarded a $1.3 billion tax abatement for future upgrades to its plant in orient township Michigan I met mattson A trailer for a new Bill Cosby documentary suggests a lot of people knew about the comedian's alleged sexual criminal activity The trailer for we need to talk about Bill Cosby released Thursday detailing accounts of Cosby reportedly drugging and assaulting multiple women The documentary is set to air on showtime beginning January 30th I'm Chris garageio And I'm Doug kisner at Bloomberg world headquarters Let's check this hour's top business stories on the markets Well the fed meets this week with a decision on Wednesday and this event is looming over markets expectations are that the fed will signal a rate hike at the March meeting and then hint at a shrinking process or a process of shrinking the balance sheet soon after Over the weekend economist at Goldman Sachs were saying in essence the fed is going to be a lot more aggressive than the markets are prepared for It's also a very big week for earnings We'll hear from Apple Boeing GM check that GE 3M Deutsche Bank Microsoft Samsung electronics and Tesla Activist investor Nelson peltz has built a stake in Unilever We are told this move comes as peltz try and fund management has bought a meaningful state in Unilever pelt's retired from the board at Procter & Gamble after nearly four years and several dramatic changes aimed at improving P and G's performance An activist investor wants peloton interactive and its CEO to explore a sale shares in the stationary bike maker or down more than 80% from their record high of Blackwell capital is preparing to push peloton to fire the CEO John foley and to pursue its sale Blackwell pushing the company's board to take that action We check markets every 15 minutes here on Bloomberg right now in Hong Kong the hang Tang weaker by 1.2% in sold a Cosby is down about 1.8% We have in Tokyo the nikkei weaker by about 6 tenths of 1% and we are on the lunch break On the other hand on the Chinese mainland Shanghai composite hire by a tenth of 1% Global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in more than 120 countries Ten year treasury is yielding at 1.77% This is Bloomberg This is Bloomberg intelligence The new pools that are metalworks can bring allows you to create.
Bloomberg Radio New York
"hang tang" Discussed on Bloomberg Radio New York
"It is 9 30 a.m. in Hong Kong and here in Singapore I'm Juliet Sally We have training underway across much of Asia but Tokyo adaption today for a public holiday The hang Tang index opening lower by two tenths of 1% the CSI 300 off a third of 1% Singapore is an outperformer today it's up 8 tenths of 1% Brian Curtis will be along shortly with more market action Well a new report coming this week will probably confirm what you already suspect if you've been out shopping lately and that is that prices are rising faster than some people have seen in their lifetime Bloomberg's Denise Pellegrini has the story The consumer price index coming out Wednesday in Washington is expected to show prices climbed the fastest in four decades 7% year on year in December and four tenths of a percent from the month before and then Thursday another report is expected to show producer prices surged 10% on the year We could get more clues about this coming inflation data when fed chair Jerome Powell testifies Tuesday in Washington He'll be before the Senate banking committee for his nomination to a second for your term Do these Pellegrini Bloomberg day break Asia Namura has cut its forecast for Australia's first quarter GDP growth to 0% This is down from 1.4% Bloomberg's Paul Allen tells us what the concerns are More broadly president Xi Jinping's anti corruption drivers and full swing that this is just one step in a multi step process Anti graph regular has been going through various parts of the economy But it is the first time in 6 years of the financial sector has been looked at and we are seeing a number of people as we said being placed under investigation I think with well-being it suggests that there might be some more names to come as well And excuse me overall no more expects Australia's 2022 GDP growth to be 3% This is down from a previous forecast of 3.7% in this downgrade comes after we saw the likes of Citigroup and Goldman Sachs also downgrade Australia's GDP forecast last week Well China proving the chairman of China life insurance in an anti graft campaign Wang bin is one of the country's top insurers regulators say he's suspected of serious violations of discipline and law and is currently undergoing an investigation Bloomberg's John Luke gives us some context More broadly president Xi Jinping's anti corruption drivers and full swing that this is just one step in a multi step process Anti graph regular has been going through various parts of the economy But it is the first time in 6 years of the financial sector has been looked at and we are seeing a number of people as we said being placed under investigation I think with well-being it suggests that there might be some more names to come as well And in response China law said that operations are normal the company will hold a board mating soon to decide on an acting chairman Let's get to the trading day now with Bloomberg's Brian Kutcher's Brian Yes thank you very much Julia Let's take a look We mentioned that China life had been under some pressure with that investigation And at the moment the stock is training down about 1.8% so it's been fluctuating a little bit this morning China is holding on province has confirmed two local cases of the omicron variants So we're talking about now much more of a spread in China We mentioned earlier that Tianjin is in a sort of semi lockdown is requiring residents if they want to leave the area to have tested negative for COVID during the last 48 hours And we've had suspended classes and lockdown measures there So this is no doubt going to weigh on the China market Again mentioning a story that is on the Bloomberg terminal about COVID zero cases Right now they're sort of losing the battle against omara and it's starting to move through a lot of these jurisdictions Meanwhile they don't have an open economy and so they're sort of suffering on both sides Thanks and index is down but not by all that much a quarter of 1% here at the moment The Hanks and tech index is down about well around a half a percent The CSI 300 in China is down a tenth of 1% and the ASX 200 in Sydney is off about a tenth of a percent We do have outperformance in Sydney and also in Taiwan Right now the streets times index is up a full percentage point The Thai X is just flat to slightly higher and we do have quite a lot of selling and sold at cost for trading down 1.3% Sure now commissioned agents last month according to a story in taichung in Hong Kong to speed up the disposal of its assets submitted miss loan payment and the stock is trading down about 4% This morning the officer Chinese currency is at 6 37 88 against the U.S. dollar U.S. dollar is quiet dalian one 1562 no trading on treasuries no trading in Tokyo for holiday Yield on the ten year was last at 1.76% Juliet back to you Thanks Brian 35 minutes past the hour time for global news.
Bloomberg Radio New York
"hang tang" Discussed on Bloomberg Radio New York
"Good morning I'm Doug Chris at the Bloomberg interactive broker studio in New York And good afternoon from Sydney 1 p.m. Monday morning here I'm Paul Allen and yes we are one of those jurisdictions that are closed But there are some trading going on You don't talk us through Brian Curtis Brian All right Paul thanks very much Yes limited trading today Many markets are either completely closed or only trading for a half day session Hong Kong is one of them the hexing index is now a negative territory picking up where it left off last year trading down about a quarter of 1% could be very light liquidity today And we're also seeing the hang Tang tech index trade lower by a tenth of a percent and that's despite some of the tech shares doing extremely well in the last session late last week So again as mentioned we have holidays across the region So liquidity is like China evergreen group announces shares will be suspended from trading on the Hong Kong stock exchange did not give a reason And we also saw evergrande MeV so the new electric vehicle company trading down about 5 and a half to 6% in trading this morning Let's take a look at a few other markets So we are seeing some positivity and sold a Cosby is up about four tenths of 1% In Singapore the straits times index is up about four tenths of 1% Singapore's economy gaining pace in the final three months of the year A lot of numbers here but suffice to say that in the fourth quarter they grew 2.6% from the previous three months and that helped fuel an annual growth rate in 2021 at 7.2% That was higher than expected and higher than what we've seen in about ten years Dalian now one 1522 and the oil price 75 50 a barrel Dug to you Brian I want to begin with Tesla The stock was down in the Friday session by about 1.3% But then over the weekend the company said it delivered a record number of vehicles in Q four and that may be one of the factors influencing a push higher and a lot of the E mini futures contracts from for the American market I should say let's get more on the Tesla story from Bloomberg susannah Palmer Tesla delivered 308,600 cards worldwide in the fourth quarter beating analysts estimates by a lot they were looking for just about 263,000 It's a record for the electric vehicle maker and capstone to a year in which the company joined the exclusive $1 trillion market valuation club The better than expected results posted Sunday pushed Tesla's total sales for the year to more than 936,000 That's up about 87% over 2020s deliveries of just under a half a million vehicles Susanna Palmer Bloomberg daybreak Asia Looks like a challenging start of the year for China's property developers the industry's got mounting bills to pay in January Bloomberg data showing at least $197 billion going to fold due This would cover all the maturing bonds coupons trust products and deferred wages to migrant workers Bloomberg Steven engel told us the bulk of the Jew payment is in the third wages A 173 billion of the $197 billion are due in back wages by the end of the month The Chinese government is urging these developers to prioritize paying these wages especially coming up to the lunar new year holiday which starts at the end of January and runs through the first couple of weeks of February Guess what also happens during that time The Winter Olympics The Chinese government does not want social unrest Meanwhile the official policy for the property market remains tight The PBOC encouraging banks to help with acquisition activity in the real estate sector We're at 5 minutes past the hour as we update global news.
Bloomberg Radio New York
"hang tang" Discussed on Bloomberg Radio New York
"Good morning I'm doctor at the Bloomberg interactive broker studio in New York And I'm Paul Allen in Sydney wears one in the past one on Wednesday afternoon We have the ASX a little weaker but around the region it's looking kind of mixed up Yeah let's begin with the China data that we're just getting now polled for the month of November industrial output up by a rate of 3.8% that's year on year just a bit above the market expectation But then if you look at retail sales with a gain of a 3.9% that was a little disappointing the estimate was looking for an increase of 4.7% I guess there were some in the market that we're looking for numbers that could disappoint to a greater extent particularly given the slump that we have seen in the property market in China and the degree to which it's had a drag on overall economic growth Right now on the mainland Shanghai composite up about two tenths of 1% and in Hong Kong the hang Tang rising by about four tenths of 1% We also had home price data for the month of November a decline month on month of about three tenths of 1% And that was a little faster than the drop that we had in the month of October Terms of the currency market right now we're seeing positivity in the yuan both onshore and offshore offshore we are at 6 36 95 against the dollar so we're picking up about a tenth of 1% even though the PBOC set a weaker reference rate for the currency Right now in Tokyo we've got the nikkei pushing up about a tenth of 1% The market in South Korea is essentially flat and as Paul just mentioned in Sydney the ASX 200 down about 6 tenths of 1% Long-term interest rates now steady in the Tokyo session with a ten year one 43 We've got the fed meeting tomorrow here in the U.S. and expectations that we're going to see and acceleration in the rate of tapering those asset purchases Paul The Biden administration's considering imposing tougher sanctions on China's largest chip maker and that is semiconductor manufacturing international corporation better known as FM IC Sources told us the National Security Council is set to hold a meeting on Thursday to discuss these potential changes Bloomberg's Ian king tells us what would happen if those changes are followed through on Snake will basically not really be able to get much in the way of equipment from U.S. companies and you'll remember that U.S. companies like fly materials KLA land research They are the leaders in making cap equipment in many of the categories So really without them makes mixed job much more difficult If implemented this would fit a complicated matters in the chips applied chain China is the biggest market for semiconductors And I'm seeing shares in Smith right now trade down about 8 tenths of 1% in Hong Kong Stateside we had a very hot reading on producer prices for the month of November and this obviously puts a lot more pressure on the fed Let's get a preview of tomorrow's meeting from Bloomberg's Michael McKee That officials have two goals at this meeting They want to show investors they are taking the threat of higher extended inflation seriously But they don't want to promise they're going to raise interest rates while inflation is at a four decade high the rapid spread of the omicron COVID variant creates a lot of uncertainty about the course of the economy We'll get their latest forecasts for prices growth and rates look for policymakers to speed up the wide down of their QE bond buying to give themselves an option to raise rates if the economy and inflation stay strong Michael mckean Bloomberg day break Asia The U.S. Senate has voted to raise the nation's debt ceiling by two and a half $1 trillion It baxters got global news It and it's at the house right now Paul majority leader steny Hoyer says there should be a vote today to send it to President Biden for his signature Senate majority leader Chuck Schumer had worked out a deal with minority leader Mitch McConnell so that no Republicans had to vote for the plan Tumor says responsible governing has won And the house has now just passed the bill we've been talking about Aimed at China over the treatment of the Uyghur population House speaker Nancy Pelosi says China is just part of a global problem Earlier this year the UN Human Rights Council declared that discrimination against Muslims has risen to epidemic proportions Around the world we see tragedy and tragic consequences of anti Muslim attitudes The genocide against the we are people Yeah and he says she says fully documented as part of the global problem the compromise between House and Senate was reached earlier today The White House now says it will work with Congress to implement any sanctions against China New Zealand's Auckland corridor is due to be open with restrictions tight to vaccination and testing today When she announced the plan prime minister Jacinda Ardern said vaccination a recent testing will be required People traveling out of Auckland who have either been fully vaccinated or have a negative T 72 hours prior to departure will be able to leave Auckland in visit other parts of the country And says it will be enforced As always police will have the operational discretion on the enforcement of these rules It is intended that people breaking the rules will fight infringement fine of a $1000 And Auckland also announcing it will ease restrictions at the end of the month UK prime minister Boris Johnson defeating a rebellion by ruling U.S. Conservative Party lawmakers in his effort to reinstate his mass mandate It also covers what the UK is calling COVID passes tied to vaccination The UK's health secretaries refusing to rule out school closures in the wake of an accelerating wave of omicron infections Cases now account for 3% of all U.S. cases delta variant is still dominant in the U.S. Has been detected in 33 states Meanwhile new study data shows Pfizer's experimental COVID-19 pill is highly effective in keeping patients out.
Bloomberg Radio New York
"hang tang" Discussed on Bloomberg Radio New York
"Sources report that New York Giants quarterback Daniel Jones will miss next Sunday's game against the Dallas Cowboys as a 30 year pro continues to deal with the neck injury Jones has been out the last two games with Mike glennon expected to get the start against Dallas at MetLife stadium The New York mets have moved on to a second round of interviews as they search for the next manager The names that have been called back include longtime skipper buck showalter Houston Astros bench coach Joe espada and Tampa Bay Rays bench coach Matt Quattro I'm Dan Schwartzman that your Bloomberg world sports update Markets headlines and breaking news 24 hours a day At Bloomberg dot com The Bloomberg business app and at Bloomberg quick take This is a Bloomberg business flash At the top of the hour we will have the Chinese data for industrial output in retail sales these points will be for the month of November I think it's fair to say that most are expecting these data to reflect softness in the Chinese economy We know what the outcome has been for the property market Many companies have been on the back foot including Sherman group holdings this stock over the prior three days has lost more than 30% and the company is saying that it saw a sudden drop in its stock and it blamed the sell off on an unspecified rumor However the company has really been making few in the way of public commentary on its financial health and maybe that is underscored some of the concern the stock moments ago fell to a ten year low We were down more than 5% but we are now gaining a little bit of a positivity shamrock is off about 1% right now in the Hong Kong session Hang Tang is higher by about three tenths of 1% although on the Chinese mainland we have the Shanghai composite weaker by about a tenth of 1% As long as we're talking about eco data for China home prices in the month of November were down about the three tenths of 1% month on month and that rate of decline is faster than what you saw in the prior month We also had a weaker fixing of the offshore currency or the currency as a whole from the PBOC offshore right now that yuan trading a little stronger against the dollar by about a tenth of 1% at 6 37 zero 8 against the greenback Right now in Hong Kong as I mentioned a positivity in the hang seng we are hired by about three tenths of 1% We're also up in the Tokyo session where the nikkei is now rising by a tenth of 1% but we're seeing a defensive tone in Sydney ASX 200 down about a half of 1% and in Seoul the cost be now weaker by about two tenths of 1% We've got the fed meeting tomorrow here in the U.S. conventional wisdom says that the fed will accelerate the tapering of those asset purchases and set the stage for a start of rate hikes in the new year the magnitude of those rate increases unclear USA former US Treasury secretary Larry summers was repeating his call for four rate hikes in 2020 Terms of a U.S. interest rates right now the ten year treasury at a yield of 1.43% in the Tokyo session We'll be back on the radio with the China data at the top of the hour until then Let's get an update on global news Ed Baxter's in the Bloomberg 9 60 newsroom in San Francisco Yeah thank you Douglas U.S. House due to vote on the human rights legislation aimed at China's.
Bloomberg Radio New York
"hang tang" Discussed on Bloomberg Radio New York
"The hang Tang tekken nexus just crept into positive territory but consider this I think it's time to do a little soul searching here Paul So we talked to you mentioned how the S&P 500 had performed pretty well It's up year to date 24% The hexing index is down 11.7% and one of the worst performing markets in the world only beaten by the market in KL and also the in Brazil We'll take a closer look at markets in a moment but for now the top stories And tomorrow we'll get a close look at U.S. CPI data from 8 30 a.m. Wall Street time Bloomberg's Michael McKee has a preview If the CPI comes in as forecast it will be the highest reading in almost 40 years What scares analysts is the probability that it's more than just COVID related price increases In October a third of all categories registered monthly inflation above 1% That's pushed the fed to suggest it will taper its QE bond buying more quickly in case it has to raise rates to tamp down on inflation Economists are paying close attention to housing costs which are based on home rental prices rents have been skyrocketing but that hasn't been reflected in the CPI yet Michael McKee Bloomberg daybreak Asia Well our investment CEO Cathy Woods says the firm is quote going through some soul searching This comes as the growth focused funds have fallen out of favor would note that the companies he invests in are aggressively investing in the future And she tells us that higher interest rate fears have weighed on arc funds I will say that this risk of period which started in February And is still in force Is a very unusual one for us I've never been in a market that is up has appreciated And our strategies are down That has never happened before The $17.8 billion ark innovation ETF is tumbled more than 20% this year Several of its top holdings like EV giant Tesla and video streaming platform Roku are down from their peaks During the same period the S&P 500 has climbed as you mentioned earlier about 24% for year to date Intel CEO Beck gelsinger will visit Taiwan and Malaysia next week This is his first trip to Asia since taking the job earlier this year And it comes as he lobbies the U.S. government to allocate money to domestic chip companies only sources told us Gaussian is trip will include a meeting with leaders of TSMC The CEO's got a tricky task ahead of him until needs TSMC's advanced manufacturing services but also plans to take business from it China's top leader is set to meet this week to decide the economic agenda for 2022 Bloomberg's John Liu tells us what to expect The message we will get out of it is that in the coming year there will be more of an emphasis on supporting growth There's a couple of reasons for that Crackdowns on big tech on property on crypto the economy is slowing substantially and in 2022 we are going to be having this party Congress at the end of the year There's a strong emphasis or onus on the party to get growth to a level that is not going to cause any sort of upsetness within the general public Economists are expecting Beijing to set a growth goal of a round 5% That would be a step down from the 8% forecast this year but it's still strong enough for China to achieve its goal of doubling the size of the economy by 2035 All right let's take a closer look at markets We mentioned a couple of big stories trying to ever ground in Kaiser group Well China ever ground has been trading down 2.2% at this point They both had defaulted on their dollar debt According to Fitch and the PBOC also raised its foreign currency reserve requirements on the banks that was another big story today and right now we see the offshore Chinese currency really bucking the trend and after selling down quite significantly early in the trading session is holding on to some strength now at 6 37 30 but when this all started a couple of days ago the offshore was at about 6 35 Well the Biden administration aims to sign what could be a very powerful economic framework agreement with Asia next year That's according to the commerce secretary Gina raimondo and he says that it will focus on areas including coordination and supply chains export controls and standards for artificial intelligence She says it is a priority for the president Well we mentioned some light selling today We've got the hanging index down about a little under half of 1% An EK down a similar margin also for the asex 200 down a little more down about half of 1% It costs me as trading down 6 tenths of a percent The CSI 300 is down about four tenths of a percent Nothing really outperforming too much but then none of these markets none of these major benchmarks are down really more than about say two thirds of 1% in the case of the Cosby WTI crude has picked up a little ground here now $70 and 95 cents a barrel And right now we've got the yield on the ten year treasury 1.49% And that's a look at markets Paul All right thanks Brian One 35 now here in Sydney ten 35 in Hong Kong and time for Jacob global news.
Bloomberg Radio New York
"hang tang" Discussed on Bloomberg Radio New York
"Trading underway across the apac region positivity in Tokyo the nikkei rising by about 7 tenths of 1% energy out in front of this advance We also see a strength among healthcare and material stocks in the Japanese market little bit of weakness though in Hong Kong the hang Tang down just about three tenths of 1% in this case real estate stocks leading this decline the outlier though the Chinese real estate developer kaisha rallying right now by more than 16% this is the first day that the stock has been trading in about the three weeks Kaiser is offering bondholders an option They can exchange existing bonds with new bonds that have an extended maturity Kaise is also accelerate being the disposal of assets as a way of improving liquidity right to now as I mentioned in Hong Kong hang sang down about three tenths of 1% And on the Chinese mainland we've got the Shanghai composite off a tenth of 1% We had a rate decision from the bank of Korea earlier as expected at quarter point increase in a key policy rate It's now at 1% We have a weakness in the Korean won though against the dollar down about three tenths of 1% and in the equity market the cost be is now down about 6 tenths of 1% and leading the decline in the South Korean market information tech We also see consumer discretionary on the back foot just a bit And in Sydney ASX 200 now down a little more than a tenth of 1% No trading in U.S. sovereign debt in the Tokyo session given that market holiday It's Thanksgiving Thursday in the U.S. We'll take another look at market action in about that Well let's say on the other side of the top of the hour how's that Let's get global news next at Baxter's in the Bloomberg 9 16 user in San Francisco Eddie.
Bloomberg Radio New York
"hang tang" Discussed on Bloomberg Radio New York
"Japan and the United States may make a joint announcement on the release of oil reserves as soon as this week and that is according to the young Yuri newspaper President Biden has sought to build international support for using the stockpiles of consuming countries to bring down high oil prices And now Japanese prime minister fumio kashida has told reporters that the government was reviewing what steps it could take to tackle the issue and coordination with other countries Japan's oil stockpiling act currently does not allow for the sale of reserves due to high prices However both the government and the private sector currently hold more reserves than the minimum required under the law in newspapers says the government is considering releasing part of these excess reserves which it believes can be sold without preaching legal restrictions and wish takes us right now 75 54 brine All right let's run through some of the numbers here in the Asia Pacific Paul Hank sing index is flat to slightly lower The hang Tang tek index is down about a quarter of a percent In China stocks go in the other direction the CSI 300 has advanced about three tenths of 1% We mentioned that the Central Bank has signaled some possible easing measures ahead That's the interpretation from Citigroup Nomura and Goldman Sachs when they looked at this quarterly review that came out the PBOC took out a key phrase in his policy outlook that included sticking with normal monetary policy and those three banks that I mentioned They think that's a shift in stance now toward a more supportive policy The offshore Chinese currency is essentially unchanged against the greenback the C and H trading 6 38 90 against the dollar the Euro trading weaker at 1.12 75 the Aussie 72.39 U.S. cents The yield on the ten year treasury is up one basis point at 1.56% We talked about the possibility of oil being released from strategic reserves Oil dropped 3% on Friday It sound about 6 tenths of a percent this morning in Asia at 75 51 a barrel Bitcoin is down more than 3.2% 57,600 and change in gold is trading lower by two tenths of a percent at 1850 The market that's doing the best this morning in terms of price gains the Cosby up 1.1% Paul back to you All right thanks very much Brian It is one 34 in Sydney ten 34 in Hong Kong climbed for a trick of global news And the U.S. is warning Russia may be preparing to invade Ukraine and there's more talk about China and a hypersonic weapon for that than the rest of the day's stories Bloomberg's of Denise Pellegrini is in the Bloomberg newsroom Denise Thank you Paul the report says China fired a missile from a hypersonic weapon as it approached a target during a test in July and this is according to the Financial Times the report says The Pentagon was surprised because no nation was known to have the capability and the hypersonic glide vehicle according to the report launched by China fired this projectile over the South China Sea So to say the U.S. has told some NATO members Russia is making preparations to possibly invade Ukraine early next year where it is about half the necessary tactical groups for that are already in place Police are reporting fatalities after an SUV drove through a Christmas parade in Waukesha Wisconsin police chieftain Thompson says the threat though is not ongoing There is no other threats involved The scene is.
Bloomberg Radio New York
"hang tang" Discussed on Bloomberg Radio New York
"On Bloomberg radio We're seeing quite a little bit of selling now even the Taiwan market which had been higher Now is trading lower The straits times index is flat holding onto a gain less than one point The ASX is up about two tenths of 1% But after that everything is sliding You've got the cost be down half a percent I mentioned the very sharp selling in tech stocks Baidu is down more than 8 and a half percent after its earnings were deemed weak The hang Tang tick index Again 3.1% lower the hanging index down 1.4% trading at ten times earnings The nikkei is also trading down 270 points in this case and that's about 9 tenths of 1% You only need look at some of the headlines on the Bloomberg terminal as you have some of the power players that we've been chatting with down in Singapore talking about the world is heading to a dangerous place That was a comment from the former US Treasury secretary Hank Paulson and others weighing in as well Let's take a closer look at currencies We have the dollar weakening now so it weakened in the U.S. it's weakening here in Asia Dalian one 1390s to the yen he is stronger and the yield on the ten year treasury is 1.57% I suppose the two big issues at the moment inflation and U.S. China relations geopolitical concerns in the Asia Pacific And that is your look at markets 90 minutes past the hour let's get to news with Denise Pellegrini in the Bloomberg newsroom Denise Thank you Brian You mentioned former treasury secretary Hank Paulson he's warning the U.S. and China to be careful about a relationship meltdown He spoke at the Bloomberg new economy forum heard live here on Bloomberg.
Bloomberg Radio New York
"hang tang" Discussed on Bloomberg Radio New York
"All right good morning to our audience across the Asia Pacific and Juliet Sally in Singapore Bloomberg daybreak Asia is brilliant by interactive brokers you can trade crypto for less coin with commissions just 12 to 18 basis points and no hidden spreads or markups Learn more at IB KR dot com slash crypto we have been following the virtual summit between presidents She and Biden she's saying that China and the U.S. should respect each other and coexist in paste and also that they should work together to advance the noble cause of peace Let's see whether or not we're getting any market reaction and fill in the blank swedenborg Brian Curtis Brian Well we've got a couple of markers just opening up at this time The tych in Taiwan up to tenths of 1% The straight times index is trading down about two tenths of a percent It sort of follows a pattern of today We have kind of standstill movement the New Zealand market is essentially flat and EK is flat here at the moment We're also seeing a little bit more in terms of losses in Australia with the apex 200 down about half of 1% The China future is trading up a little bit in Singapore maybe about two tenths of 1% and we'll get hang Tang index futures trading in about 13 or 14 minutes earlier Hank sing index futures were down about a tenth of 1% So a lot riding on this virtual summit between President Biden and president Xi I'm not sure that people have really high expectations But probably the expectation that most would accept the most readily is just that they started talking again and that they seemed reasonably confident that they could work out some of the differences We'll see whether or not that pans out in that rather long meeting is supposed to go for a couple of hours Currency is now we have the offshore Chinese currency trading at 6 38 O 8 not too much movement We have a lot of strength in the Chinese currency of late The dollar was very strong overnight gaining four tenths of a percent Right now Dolly and one 14 18 the yield on the ten year treasury 1.60% and WTI crude is trading down a little bit down a tenth of a percent $80 80 cents a barrel Julia All right the fed will probably have to raise its target for the federal funds rate to at least 3% to try to keep inflation in check This according to two former fed presidents Bill Dudley and Jeffrey laka Dudley saying the fed is making a mistake on inflation I think they have made a mistake in the sense of being so slow to start the taper They basically said we're not going to start the taper until we've made substantial progress towards these goals of employment inflation And now the taper isn't going to be completed by until June of next year on the current trajectory That's a very slow path of removal of accommodation given the economic information that we're seeing So I think by locking themselves in this way I think they've doubled down I'm being late In response to accelerating inflation both Dudley and Richmond fed president lacker suggested the fed speed up the reduction in its asset purchases Dudley saying that trouble is it would trigger a so called taper tantrum in which long-term interest rates shoot up in response In the end he doesn't think the fed is going to risk that Well Chinese developer kaza has yet to pay coupons to last week Bloomberg's Rachel butt gives us some details I had about 88 million in interest payments to last week and some of the dollar bondholders that they had not yet seen funds coming through as of November 15 New York time in the morning and the developer has 30 days to retain those interests before they go into other fall At the moment Kaiser is trying to sell property assets with an estimated value of 12.8 billion but the progress excuse me has been very slow and fit rating says the slow pace could make it more likely for Kaiser to default at some point Kaiser has about a $185 million of dollar bond coupons June next month at a $400 million note of the developer will mature on December 7th It is four minutes past the hour time for.
Bloomberg Radio New York
"hang tang" Discussed on Bloomberg Radio New York
"Via the Bloomberg business app Hi everybody Great to have you with us in this final hour of the program today We're just getting the China data in for the most part beating expectations but still down still disappointing when compared with the previous month We get all the numbers to you in a moment I'm Brian Curtis And I'm Doug Chris coming to from the Bloomberg interactive broke a studio in New York We have trading underway across the apac region markets pretty much positive with the exception of the Chinese mainland where the Shanghai composite is down about a tenth of 1% Brian was referencing the data that we have for the month of October Let's begin with industrial output again year over year of three and a half percent a little bit above forecast the street was looking for 3% right on the money And then if you look at retail sales again year on year 4.9% much above the estimate at 3.7% fixed asset investment a little bit below forecast with a gain year on year of 6.1% We also had data earlier on a new home prices in China down for the second month in a row in October prices Now at the lowest level in more than 6 years Now we know the story here that the government was working to curb speculation in the property market home prices month on month in October down by a quarter of 1% If you look at the Chinese currency offshore we're strengthening against the greenback by about a tenth of 1% 6 spot 37 50 against the greenback again weakness on the mainland with the Shanghai composite down two tenths of 1% in Hong Kong the hang Tang holding onto a slim gain let's call it a tenth of 1% We had eco data for Japan earlier contraction in the economy doing during a Q three not a big surprise but the magnitude of the contraction was a little greater than the market had been discounting negative 3% street was looking for a loss of 7 tenths of 1% Now the bet is on a stimulus package this week Nikkei had four tenths of 1% and sold the Cosby right now rising by about 1.1% meantime in Sydney We've got the ASX 200 to head three tenths of 1% And the U.S. ten year treasury now in the Tokyo session down a little bit in yield where one 55 but I think Brian this is somewhat encouraging the numbers we're getting out of China today I think you can say that it's a sort of stabilized economy Yes it slowed down a little bit In fact one of the other numbers property investments So that's in addition to the fixed asset investment The property investment number was actually worse than expected and it was well down from the prior month But on balance these numbers are fairly steady fairly okay I was asking endocrine chief Asia economics correspondent view is expecting a downside surprise And he actually said no you know he's normally very sober but he was saying expecting maybe a little bit of an upside surprise and so I think we probably split the middle on that one on that All right let's get to Janet Yellen because the treasury secretary said that the key to lower inflation in the United States is addressing COVID-19 She spoke on CBS's face the nation When the economy recovers enough from COVID that demand patterns people go back to eating out traveling more spending more on surfaces and the demand for products for goods begins to go back to normal Treasury secretary Janet Yellen heard right here on Bloomberg she repeated her expectations for inflation to decline by the second half of 2022 Yellen's remarks follow a poll from The Washington Post and also ABC News the polls show that President Biden's overall approval rating is at 41% Now that's down from 50% in June and 44% in September It suggests that nearly half of Americans actually blame President Biden for the jump in the cost of living The consumer price index rose by a 6.2% rate in October compared to last year We're going to take a closer look at all this market action with our guest michio kumada of LGT Capital Partners Asia right after we update global news President Biden and Xi Jinping will be meeting virtually Monday night Washington time Let's take a closer look with that story and the rest of global news Denise Pellegrini and the Bloomberg newsroom Denise Thank you Doug You know the two have spoken before several times by phone but this is the first time it's being billed as a summit and Bloomberg Stephen engle in Hong Kong says Washington and Beijing are both trying to dial back expectations after a bruising time for Beijing during the Trump administration There's lots of issues geopolitical and economic to get through after those four years of the Trump administration which put China really on its back heels defensive and shut off most conversations And Angela also says the conversations about control of Taiwan will likely remain tense at that meeting What has officials are plugging for President Biden's massive $1.75 trillion build back better social spending plan Brian dies director of The White House national economic council We're confident this bill as it moves through the process is going to be fully paid for And not only that it's actually going to reduce deficits over the long term And desan ABC this week heard here on Bloomberg radio also saying he's confident the house will pass that bill this week and send it to the Senate Negotiators from almost 200 countries have clinched a breakthrough climate deal Delegates at top 26 in Scotland have agreed to cut coal use and fossil fuel subsidies It also boosts climate target sooner and UK prime minister Boris Johnson calls the coal reduction portion of this an unprecedented get A UN climate change conference has delivered a mandate to cut the use of coal power of co power generation And China and India did manage to get language on coal water down but not as much as some say they had hoped Another son Queen Elizabeth may not be well the UK's 95 year old monarch mister planned appearance today Buckingham Palace says the queen sprained her back China's COVID czar is defending Beijing's zero tolerance approach tens of thousands of students meantime are in lockdown in COVID hotspots in the country Austria is putting unvaccinated people in lockdown and Germany is being battered by a fourth COVID wave and troops are on standby to help a crisis meeting is scheduled for Thursday Global news 24 hours a day on air and on Bloomberg quick take powered by more than 2700 journalists and analysts in more than a 120.
Bloomberg Radio New York
"hang tang" Discussed on Bloomberg Radio New York
"Hello everyone 9 30 in the morning in Hong Kong I'm Steven engel And I'm doctor at the Bloomberg interactive broker studio in New York We have trading underway now in Hong Kong and the hang sang right out of the gate down about three tenths of 1% We'll take a closer look at what's driving some of the price action in markets momentarily right after we update you on a few of the sours tapas and stories Steve Well SoftBank is expected to report results that fall in the red later today Bloomberg's Pavel alpay of tells us why The main reason is because salt bank now has a very large portfolio of public shares that include things like Uber didi coupang DoorDash and pretty much across the board Those numbers are red who paying alone has dropped more than 33% in the best quarter Analysts estimating that the company will lose around 18 billion in unrealized losses on the public portfolio China's regulatory crackdown is also beginning to hit valuations in the vision fund portfolio analysts at research estimate a 21% drop in the value of the funds publicly held portfolio over the last quarter That's a fall of more than $18 billion And right now I'm looking at shares in SoftBank in the Tokyo session down about a half of 1% Key chip makers in both Taiwan and South Korea appear to be complying with a request from the U.S. for more information sort of We have more from Bloomberg's Denise Pellegrini The commerce department has given major chip makers until today in Asia for information about inventory backlogs delivery time procurement practices what they're doing to increase output and about each company's top customers Taiwan's semiconductor says it has responded but without disclosing any customer specific information and South Korea's finance ministry says local tech firms will provide some semiconductor data to the U.S. Taiwan semi South Korea Samsung are the world's two largest contract chip makers They serve a wide range of companies including automakers and commerce secretary Gina raimondo had said the U.S. might invoke the defense production act to force the companies to comply Denise Pellegrini Bloomberg day break Asia China's imports of cold nearly doubled in October from a year ago the coal purchases last month reaching 27 million tons even then it was still 18% below the annual high recorded in September imports of natural gas also rose from last year's level the surge in energy purchases was to help ease a nationwide power crunch at home that's been ongoing for months Meantime we got a line from the official news agency Xinhua over the weekend saying that China's power supply is now back to normal All right here we are at 33 past the hour of time to get you caught up on some of the market action We're seeing in the opening moments in Hong Kong hang Tang is down now by about 9 tenths of 1% Healthcare and communication services leading this decline but if you look at the healthcare group it's down nearly 7% right now which then takes us to soul where the Cosby weaker by 1.2% and its healthcare also leading this decline pharmaceuticals in particular look at shares in green cross down 6% right now in the South Korean session The research firm wa investments and security saying that green cross may be posting softer than expected earnings for 2021 the firm is citing sluggish contract manufacturing for COVID-19 vaccines We do see a little bit of weakness in the Japanese currency against the dollar here at one 1360 that may be supplying a little bit of support for the equity market in Tokyo However the nikkei is down by about two tenths of 1% Consumer discretionary and healthcare leading this decline energy does remain positive as is the case in many markets in the apac region crude oil right now above $82 a barrel It seems as though the market is not concerned about the possibility that The White House would tap the strategic petroleum reserves here in the U.S. as a way of bringing down gasoline prices Brent crude right now at $84 a barrel We're seeing a move up in long-term interest rates after quite a session here in the U.S. on Friday where the ten year treasury yield was down below one and a half percent for the first time in a month actually we closed New York trading at one 45 In spite of the fact that we had that very strong employment report for the month of October it seems as though the market is really focused on central banks not accelerating short term rate increases even though there is this conversation tied to the data inflationary pressures building at both the retail and wholesale level Ten year treasury now in the Tokyo session is at 1.47% The dollar firm against the majors with the Bloomberg dollar spot index rising about a tenth of 1% the offshore Chinese currency a little weak not by much 6 bought 39 87 against the greenback We'll take another look at market action for you in about 15 minutes from now Steven All right thanks Doug Well China is now trying to help Iran in dealings with the United States issues with its nuclear program at Baxter has that story and more in global news Ed Yeah Steven is the two countries go back and forth China and the U.S..
Bloomberg Radio New York
"hang tang" Discussed on Bloomberg Radio New York
"Through the industry with shares in Facebook and Twitter tumbling around 5% on Friday alphabet was down about 3% The Turkish lira is at a record low as the country's latest diplomatic spat led to weakness in the struggling currency The lira has been under pressure since last week following a larger than expected rate cut and now fresh selling after president Erdoğan said ambassadors of ten nations are no longer welcome We check markets every 15 minutes here on Bloomberg The nikkei down 1% hang Tang higher by a tenth of 1% Shanghai composite up three tenths of 1% and the Cosby rising two tenths of 1% Global news 24 hours a day on air and on Bloomberg quick take This is Bloomberg This is Bloomberg Wall Street week markets shrug off higher consumer prices The economy is in the process of rebounding Well the Federal Reserve has its own digital currency The financial stories that sheep are working Many people think the user just going to keep marching up We have more spending coming out of Congress One of the big questions I think investors minds inflation Through the eyes of the most influential voices Larry summers the former treasury secretary Brian moynihan a Bank of America CEO of Charlie sharp Bloomberg Wall Street week with David Weston from Bloomberg radio More action than direction from earnings from bonds and from Chinese real estate This is Bloomberg Wall Street week I'm David Westin It was a weak filled with more news than direction.
Bloomberg Radio New York
"hang tang" Discussed on Bloomberg Radio New York
"It is 9 30 a.m. in Hong Kong and here in Singapore on Juliette Sully And I've got prisoner at the Bloomberg interactive broker studio in New York We have trading underway in Hong Kong hang Tang weaker by half of 1% Its healthcare out in front of this decline Juliet will take a closer look at all the market action for you in a moment right after we update just a few of the showers top business stories Jules And Hong Kong is under pressure to ease its quarantine rules in abandon at zero COVID policy the pressure comes from a sim which is a top lobby group for financial firms in the city the group found that almost half of international banks and asset managers are contemplating to move staff all functions out of Hong Kong that is especially when other financial centers like Singapore are seeking to coexist with the virus Mark Austin is CEO of asylum and he said that the current policy puts Hong Kong under threat And that's not really in Hong Kong's interest It's not in China's interest either You know Hong Kong is China's only ISC And it's not changes into just a Chinese financial center There's some sort of offshore center in non international financials That's not in China's interest either We think there are people within the government that very well understand this is to advocate for a stronger opening for Hong Kong and a clear road map to do it And while Hong Kong officials acknowledge the challenges faced by businesses they've said the top priority is opening travel to the China mainland While investors still believe technology is the best place in the equity market to find reliable revenue and profit growth Well that belief is going to be put to the test this week for sure we have more from Bloomberg's susannah Palmer The 5 largest U.S. technology companies are set to report earnings starting with Facebook on Monday They could use a strong showing as big tech's market dominance faces threats from rising interest rates and slowing revenues The stocks are expensive the NASDAQ 100 stock index is just 2% off of a record high despite Friday's decline There have been some high profile earnings misses lately particularly snap which plunged 27% on Friday This after warning that customers are cutting back on digital advertising spending Susannah Palmer Bloomberg daybreak Asia French oil has risen above $85 a barrel this after Saudi Arabia said that the OPEC plus alliance should maintain its cautious approach to managing crude supplies This is due to the lingering threat to demand posed by the pandemic Prince Abdullah's bin Salman is Saudi Arabia energy minister and he said producers should not take the rise in prices for granted.
Bloomberg Radio New York
"hang tang" Discussed on Bloomberg Radio New York
"Sold for ten times the asking price Auctioneers thought the incredibly rare Myo leica would go for more than a $100,000 It features a painting by Nicola de urbino of the biblical story of Samson and Delilah British auctioneers Leon and Turnbull say once a bitter started to increase their offer by $50,000 increments the dish sold for $1.7 million I'm Brian schuck And I'm Brian curtiss in Los Angeles Let's check this hour's top business stories and the markets Asian equities are posting solid gains lifted by the passing of legislation in the United States lifting the debt ceiling and better data of late The S&P 500 gain 0.8% as China has come back from its holiday of a weeklong break with a little spring in its step the CSI 300 now up 1.2% I'll have details on markets in a moment Samsung's operating profit rose more than 25% thanks to rising prices for semiconductors and surprisingly strong demand for foldable smartphones Third quarter operating profit was 15.8 trillion one and that was slightly better than the estimate of 15.75 trillion China's embassy in the United Kingdom says Beijing will tighten oversight of tech companies to sustain growth and also we heard from PBOC governor Yi gong saying that China would continue to take steps to curb monopolistic behavior among Internet platform companies Still the hang Tang tech index is faring reasonably well today up about a third of 1% The hang seng index is flat at the moment Well Tesla is moving its headquarters from Palo Alto California to Austin Texas Elon Musk stressed that Tesla will continue to expand in both California and in Nevada Musk said that the Shanghai plant is now out producing the plant in Fremont All right to the markets oil has rebounded after the U.S. energy department said it has no plans at this time to tap into the nation's oil reserves and we see WTI trading now at $78 and 93 cents a barrel The Nike with a rally of 2.2% and the CSI 300 again up 1.2% Global news 24 hours a day live in a Bloomberg quick take brought to you by 27 under journalists and analysts in a 120 countries In Los Angeles this is Bloomberg This is Bloomberg law Some complicated international law issues here What kind of docket is chief justice Roberts facing Interviews with.