40 Burst results for "Pboc"
Fresh update on "pboc" discussed on Bloomberg Law
"It also will add to distribution centers and will experiment with tech enabled ways to restock shelves. I'm Brian should From Bloomberg World headquarters in New York. I'm Doug Prisoner. Let's check a few of this hour's top business stories and the markets Equities in China are recovering following yesterday's selloff. Markets had been shaken by concern over excesses, however, today China's Securities Journal said the PBOC make trim requirement ratios for reserves that banks as soon as this month. Now that would suggest the PBOC is targeted easing program remains intact and as a result, we have many banking shares trading higher right now. Shanghai composite is higher by 1.1%. After the bell here in the U. S lift forecasted on adjusted loss for the first quarter. That was above estimates. The company also said that last week it was the best in terms of the number of ride since the beginning of the pandemic, and we had shares in live trading up by 2% in late trading. We also heard from Hewlett Packard Enterprise. Giving a bullish forecast for the current quarter. The company is seeing increased demand for the equipment needed to run computing services and managing devices over the Internet. Crews. This is the self driving vehicle company majority owned by General Motors, Well cruises and talks to acquire Voyage Voyage is an autonomous technology startup. That operates in retirement communities were told these companies are in serious conversation. We check markets every 15 minutes here on Bloomberg. We see a stronger dollar right now, with the Bloomberg dollar spot Index pushing higher by 10th of 1% the end weaker at 106 85 and we have stability in the offshore Chinese. You wanted 6 47. 07 in Tokyo, The Nikkei is up 2/10 of 1% hang sang higher by 1.8% right now in Seoul, The Cosby Up 4/10 of 1% and in Sydney. The ASX 200 ahead 7/10 of 1%. Global news 24 hours a day on air and on Bloomberg Quick take powered by more than 2700 journalists and analysts and more than 120 countries. This is Bloomberg.
Fresh update on "pboc" discussed on Bloomberg Daybreak: Asia
"Azzawi were important to you all day. Tokyo is planning to the government there is planning to ask Japan as a whole to extend the state of emergency, but apparently In a preemptive strike. The prime minister says that he will make that decision interesting. Hong Kong police have arrested former next digital executive director Stephen Ting for alleged fraud or a gentle daily sources, saying this makes 10 arrests in relation to the Jimmy like case Australia's Prime minister Scott Morrison has had a call with US vice President Kamila Harris, the release say. They talked about climate China and Burma and the White House pulling near attendance. OM be director nomination. They feel she can't get the votes and is we have been telling you U. S. President Joe Biden says he thinks every American now could be vaccinated by the end of May in San Francisco. I'm Ed Baxter over too well. Sydney and Paul All right. Thanks very much it we have with us, the South Al Bennett all he's Asia Pacific economist at Coface and Ben and we saw a little bit of weakness and Chinese equities yesterday with we had regulators, warning of Bubble risks wondering where you're seeing the greatest evidence of bubbles in China, and regulators would seek to deflate those without popping them. I think the Chinese government almost concerned about the potential off bubble in the property market. You can see that since August last year, the half Go out a few cups to restrict lending to the property sector, And in fact, we look at the macro economic data. Much of the investment has gone into the property market, which, if you look at the property investment data up 7% in 2020. In contrast, manufacturing investments down minus 2.2% and infrastructure investment, which makes some of the trinity of investment in China is just marginally so we can see them. They are kin to Uh, divert some of that investment not towards the property market, even though that sector self helps to support 20 to 25% of GDP, they are keen not to have it overheating and creating a risk to financial stability. In fairness, and maybe some of the concern extended beyond China's borders to markets like the U. S. And and, to a lesser extent, Europe It was interesting. Today. The front page of the China Securities Journal featured a piece saying that the PBOC Matron Reserve requirement ratios for some banks in China this month. Now the conclusion seems to be that The target of easing program remains intact. How much more easing from the central bank in China is required. Do you think before the economy is going to show signs that it's firmly on the path of recovery? S for the targeted Aw, cut that is expected or sort of telegraph for mine off much is really part of the PBOC program where they do it anyway. Assessment off inclusive finance, so they provide people our discount too large and medium sized. Thanks. As long as they need something quite to us, including a proportion off loans to, uh to inclusive finance US. Me's so this program has started since 2018 restored last year in March, where they also do a targeted triple Our cut. So in the broader sense in a broader context, China is still on what what I was saying, tapering in terms off liquidity conditions. Debt will not change for this year. But what would be more dependent is the pace off that tightening in the crudity condition is going to be more dependent on data going forward. So for much, we may still see some easing, because, uh, the loan Model. The soft alone more territory in for a semi's supposed to last 12 months is nearing its and so the government may be keen to provide some off the liquidity support. Toe sent me Now. The end of the week, of course, is the start of the year. NPC and China were not expecting to hear about the growth targets, according to a number of analysts. What are we expecting to hear about in your view? Very quickly. Bernard. Um, well, we way are going to hear more details on the do a circulation strategy that enough last year so that there will be one of them and we are also we also want to share more in terms off the fiscal deficit targets. Uh, and and longer term target suggest organization, right? Expel as any the new quota for this year for the local government special bonds, which is mainly useful infrastructure investment. All right, Bennett. All thanks. So much for joining us on Bloomberg. Daybreak Asia today Bennett or is Asia Pacific Economist at CO. Fast We look across thean quickies markets in the region, so.
Fresh update on "pboc" discussed on Bloomberg Daybreak: Asia
"Here's Dan Schwartzman. Thanks Dad took the sport is reporting that defending Champions League winners Bayern Munich is looking to make a run at Napoli's college Akula Bali, two pair of defensively with newly acquired dialect Obama Kano, the serious side is looking for a transfer fee close to €80 million for the Senegal International, while Byron has offered 45 million with the current financial restrictions. Caused by Cove in Manchester City, increasing its record winning streak to 21 straight in all competitions. But the Premier League 4 to 1 win over Wolverhampton Etihad as Gabrielle hey sue scores of race to extend to 15 point lead in the league table over Manchester United Elsewhere in Europe, Russia dormant advances to the semi finals of the DFB poke out for the one the one of a brush among King Gladbach at Jane Sancho scores this 66 minutes. In Italy event it's moving to within three points behind second place A C Milan into Syria table for the three No. One of her special Italian stadium as Cristiano Ronaldo scores his 20th goal this season. The 36 year old becomes the first player to score 20 more goals in each of the last 12 seasons, playing in one of the top five leagues in Europe. Miami Dolphins telling linebacker Calvin annoyed that he will be released in a trade partner for the 29 year old can't be found. Vanoy came to Miami on a four year $51 million contract after playing four seasons with the New England Patriots. Finally Pittsburgh Penguins star Sidney Crosby missing tonight's game as a 33 old has been placed on the cove in 19 Protocol list. On Dan Sportsmen that your Bloomberg World Sports Update Markets headlines and breaking news 24 hours a day at Bloomberg, calm the Bloomberg business out and at Bloomberg Quick Take This is a Bloomberg business Flash. So over the last 24 hours or so there's been a debate percolating in markets as to whether or not equity prices reflect excessive optimism. We were talking earlier about Comments made Tuesday from China's top banking regulator, very worried about the risk of bubbles developing pretty much in the U. S. And in Europe. Then today we had the China Securities Journal saying that the PBOC may trim reserve ratio requirements for some banks in China as soon as this month Now that would suggest that the PBOC is targeted easing program. Is intact, which is kind of counter to the notion that there is a excess building in the system right now on the mainland After losing 1.2% yesterday, Shanghai composite is hired by 4/10 of 1%. And in Hong Kong, the Hang sang is up about 1% looking within the Shanghai composite seeing strength among the financials. That's really not that surprising. Given the report in the Securities Journal Right now, in Tokyo, the Nikkei holding onto a slim gain. Let's call it 1/10 of 1% similar story in Seoul for the Cosby Then you go to Australia, where we had a GDP number for the fourth quarter and expansion at a rate of 3.1%. Now that is quarter on quarter and topped estimates. The ASX 200 is hired by 7/10 of 1%. Right now, a bond yields moving up ever so slightly. The 10 year Treasury in the Tokyo session has added about a basis point in yield. 140 crude oil remains weak. We were down 1.5% in New York on the expectation that this OPEC plus meeting later this week is going to produce some Type of small increase wt. I right now, is it 59 65 in the Elektronik session? That is market action. Next is global news. And that Baxter from the Bloomberg 9 16 years for bed. All right, Thank you. Douglas. Hong Kong Police have arrested former next digital executive Director Stephen Tang. For alleged fraud. Oriental daily sources. This makes 10 arrests in relation to the Jimmy Lai case. Australia's.
Fresh update on "pboc" discussed on Bloomberg Daybreak: Asia
"Day following against the comments. Microsoft is urging customers to download software patches. This came after state sponsored hackers based in China allegedly broke into Microsoft server. Microsoft said the hackers broke into email accounts and installed malware. Bloomberg's Liza's of Alias told us what's concerning about this attack. They used a form of law called Zero Day, which is a term meaning that it's a previously undiscovered vulnerability. So until those vulnerabilities are discovered, and Microsoft was able to create a patch, there was really no way to protect against these air, rare and valuable. The hacker, so the fact that multiple were used against customer coffees of the software Definitely of note. Bloomberg's Ah, Liza's Albania's Microsoft said that these hackers typically target quote entities in the U. S among a number of industry sectors. Gina Amanda has won Senate confirmation is US Commerce secretary in an 84 to 15 vote. This puts the Rhode Island governor at the heart of President Biden's efforts to revive the U. S economy. She's also expected to be part of a broad team pressure in China on key issues. These include the persecution of China's wig, a minority in the western region of Xinjiang. And also trade practices that violate international commitments. Remember, Oh has pledged to help American workers compete against China, while also investing to bring manufacturing back to the U. S. Ramada was national co chairwoman of Michael Bloomberg's 2020 presidential campaign. Bloomberg is the founder and majority owner of Bloomberg LP, the parent company of Bloomberg News. All right Markets with Doug Christner Brian. I'm seeing stability on the mainland in China Shanghai composite is up just 1/10 of 1% after selling down by more than 1.2% today. We know very well. The story in China yesterday the shake caused by concern over market excesses today, though, the China's Securities Journal was saying, at least on the front page of the opinion that the PBOC may trim reserve requirement ratios for some leading lenders in China this month now that would suggest on its face. The PBS sea is or it's targeted easing program is remaining intact. Right now, in Hong Kong. Hang sang is better by about portents of 1% in Tokyo. The Nikkei down 1/10 of 1%, though and in Seoul, the cost be weaker by about 3/10 of 1%. We had a GDP reading for Australia, that was much above forecast. Fourth quarter expansion at a rate of 3.1% at his quarter on quarter. The estimate was looking for a gain of 2.5% right now in the equity market. We have the ASX 200 higher by about 6/10 of 1%. The dollar is stable after sliding a bit here in New York. The Bloomberg dollars spot index up But it's less than 1/10 of 1%. And we're seeing a little bit of weakness creep in in the end visa be the greenback. 106 84 and the Chinese currency offshore is stable at 6 47 27 we're seeing in the Treasury market. The bonds that are trading now in the Tokyo session, yields rising ever so slightly a 10 year now at 1.41% and the many futures, meantime for the American market, pushing higher After some tech weakness here in states that saw the NASDAQ 100 down in the regular session by 1.7%, the NASDAQ 100 E many futures contract ahead now. A little more than 2/10 of 1% Juliet. Thank you. Dog 35 minutes past the.
Fresh update on "pboc" discussed on Bloomberg Daybreak: Asia
"The Patriots, the former second round pick in Detroit, said in a statement that he was quote surprised and disappointed by the move. On the unsportsman that your Bloomberg World Sports Update Markets headlines and breaking news 24 hours a day at Bloomberg, calm the Bloomberg business at hand at Bloomberg Quick tape, He's He's a Bloomberg business Flash. Hi, everybody. 17 minutes past the hour. We give you an update here on markets every quarter hour on the program. Asian stocks edging a bit higher today earlier U. S stocks slid tech shares in particular leading losses in the S and P 500. And Tesla's tumbled more than 4% Way, also had oil down below $60 a barrel. Chinese equities falling below yesterday a pair of trusted technical levels that was after the chief banking regulators. Remarks about bubbles and such. The benchmark Shanghai composite punched through its 50 day moving average. And also a long term trend line. He's Rick comments from Good gosh, Shu ching, he sounded the alarm is well about irrational exuberance last October. Blamed policies in advanced nations for the disconnect between financial markets and the economy. He said there were bubbles in the US and also in Europe because their economies were out of step with their markets. The way this morning. We've got the China Securities Journal, saying in a front page commentary PBOC may cut the triple our ratios for some lenders this month. The numbers for you, The Nikkei Up 2/10 of a percent ASX 200 up 6/10 of a percent. Cosby's flat Dolly in 106 71 yield on the 10 Year 1.39% and that Look at markets in Asia. Views with that. Baxter in San Francisco head all right. Brian Australia's Prime minister, Scott Morrison has had a call with US vice president Kamila Harris. The release says they talked climate, China and Burma. Dr. Anthony Fauci said it yesterday. Now.
China Orders Ant Group to Revamp Its Business
"Chinese regulators have ordered and group to return to its roots as a provider of payment services. Bloomberg's Rosalind Shen has the story time is a central bank summoned and executives over the weekend. A statement from the PBOC says the company needs to quote rectify lending insurance and wealth management services. It also says aunt needs to understand the necessity of overhauling its business on once and to come up with a timetable for doing so as soon as possible and in response said it will set up a special team to create proposals and it timetable for an overhaul. The authorities didn't ask for a break up of the company, but this represents a serious threat to the expansion of Jack Mars Online finance empire. And a curb on its most lucrative business, consumer loans and wealth management in Hong Kong. I'm Muslim Chin Bloomberg Daybreak Asia
Chinese regulators order Ant Group to rectify its businesses
"Have ordered and group to focus on its business of providing payment services. We get more from Bloomberg's Susanna Parma, the People's Bank of China summoned and executives executives over over the the weekend weekend and and told told them them to to basically basically scale scale back back the the company's company's personal personal lending lending insurance insurance in in wealth wealth management management services. services. PBOC PBOC stopped stopped short short of of directly directly asking asking for for a a break break up of the company. It all adds up to making it difficult for aunt to grow in the way it wanted to. Central Bank said aunt used its dominance to exclude rivals hurting the interests of its hundreds of millions of consumers. And said it appreciated the guidance and would comply with the regulatory requirements before regulators intervened earlier this year at was poised for a public listing that would have valued it at more than $300 billion.
"pboc" Discussed on WAFS Biz 1190
"Your business landscape changing geeking an all out trade wolf does the fed turtle softer and do we get in Greenland on US China? We have something else in common. Probably right size for folio. We see the latest business news wherever we must reinventing manufacturing processes SpaceX on Bloomberg radio, the Bloomberg business app and bloombergradio dot com. Bloomberg the world is listening. Well, the People's Bank of China has injected more than two hundred sixty billion Yuan of liquidity into markets via targeted medium-term lending facility it reflects an effort to support an expansion in credit while trying to avoid building up further financial bubbles. Let's get more with Stephen Engle in Beijing. Stephen talk us through this particular operation. I think it's only the second time ever that we've had one of these. And what exactly the rationale from the PBOC actually is for this? Well, this comes on the heels, of course of that statement coming from the bureau on Friday, which the market interpreted as signals from thorns here in China that they were going to dial back the stimulus that, of course, is seeing that big stock market rally so far year to date and what we've seen subsequently. Of course that statement from the police bureau is three straight days now, including today of declines for the benchmark indices here in China. What thirties look like they're doing is trying to dial back some of the expectations of stimulus, and what this new injection of quitting is more. Maybe even one economists said is a bit of a shadow shift by the PBOC to more neutral policy, and that is you know, going away from the universal liquidity injection to more of a targeted injection. So we're going to get those one year funds offered the banks at three point one five percent. That is the same as the last operation similar operation in January. And we spoke earlier this morning here on daybreak Asia. China open to Mark Cranfield is of course, the Bloomberg markets live blog reported he says this is not the big bazooka of an official rate. Cut should be received by the market. Well, but the amount is not necessarily a game changer. Yeah. New study speculated last week wasn't in terms of the size of what they might do on this. And let's talk about big conversations Christine Lagarde with the governor. They seem to be on form. A message about openness. What are they? What are they chat about? There wasn't a lot of news from the Christine Lagarde tweet. She just said she had an excellent discussion with the governor Egon Christine Lagarde is here today participating in terminal conference here in Beijing. She's also going to attend the belt and road summit tomorrow in Beijing. Of course, this also comes on the heels of earlier this month with the IMF lowered its global outlook to its slowest growth outlook since the global financial crisis. Again, they use the terms like warning central Bank governors. Do no harm as we are navigating. Of course, the trade war and the ramifications of that. So it'll be interesting to see if Christine Lagarde has a little bit more substantive comments coming tomorrow on how she views the policy makers here in China. Yep. Quite a few heads of state heading over to that Belton road form Stephen Engle there for us in Beijing. Thank you so much for that. Well, one does Jeff Haley is still with us from our Singapore studio, Jeff I want to start with that stimulus measure that we were just talking about from the PBOC targeted medium-term lending facility. What does it mean for markets in China specifically, if we're getting more targeted stimulus from the authorities rather than a giant unleashing of stimulus measures as before?.
Asia markets: Wall Street sell-off, geopolitics, currencies in focus
"Hong Kong, we mentioned the fix from the PBOC was actually a little bit stronger than the estimate, but nonetheless, the currency has been weakening, but just slightly here. We get the C N H now at six point nine four nine one against the US dollar all is pointing on the China and Hong Kong markets opening up at the bottom of the hour. In the midst of this broad sell off, the Nikkei now down seven hundred thirty points, the footsie China eight fifty futures in Singapore trading down one point five percents that gives you an indication. And we'll also take a look here at Hang Seng index futures down about one point eight percent. A lot of that following on from the weakness in Europe and the United States it has docked down four point four percent, the S and P five hundred and the Dow industrials and non negative for the year, basically puts every developed market in the world will actually every
US, China and Tim Conway discussed on Bloomberg Finance
"With twenty five. Million dollars almost as much as it made in its debut weekend in Hollywood I'm David Daniel One of the stars of the Carol Burnett show. Tim Conway is. Reportedly suffering from? Dementia Conway's daughter Kelly, wants to, have charge of his medical treatments. Claiming the eighty four year olds
US, Mister McCain and China discussed on Bloomberg Daybreak: Asia
"Future and Australia's new prime minister Scott Morrison unveiling what he calls the. Stability cabinet he. Says it will. Focus on, the economy immigration safety but. I change in
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.
Trump's trade 'extortion' won't work, China state media says
"Bloomberg from Indonesia second quarter GDP. Expanding five point two seven percent year on year the estimate was for five point. Two percent One two percent so a clear beat on that front of course the Indonesian central Bank has been in. Focus. As part of this EM's under pressure? In, light of rising rates. Currently dollar-rupiah slightly below the flatlined on a tenth of one percent. Lower okay let's see how markets finished on trade yes topping the. Board Israel we've just had one, of the biggest rallies in the Israeli market they were raised a AA minus by s. And p strong growth they, expect growth of three point three percent. Over the next couple of years between two. Thousand eighteen and. Twenty twenty one so nice upgrade for Israel decided manga done by Nathan one percent let's see. How. The market reacts this morning, just, Saudi Arabia suspending its ties with Canada over the arrest at Saudi steel pipes were tying by nine percent yes he was on the upside really really strong numbers there to buy the insurance where a little. Bit better yesterday in Dubai up. On the one percent Encarta eight, tenths, of one percent just a. Little bit softer on the market, this morning Our top stories Chinese state media say the country is prepared for long trade? War. Is afraid of sacrificing term economic, interests the Trump administration is also vowing won't-back-down or China correspondent Tom MacKenzie joins us now from Shanghai Tom how does it all unfold from here I mean the state media is getting quite vocal about this Certainly yes some spicy language from the state Bank global times, editorial out of the last few days saying that the US was losing its mind and that China was going to fight until the end but as you say as you point to the more. Important takeaway really is this sense now that Chinese state media at least a stealing the country for a longer more drawn out fight with the US when it comes to trade in terms of how things play out from here. You your that list published by the Chinese on Friday. More majorly in the, next few days the next few weeks we're expecting potentially that, additional sixteen billion dollars worth of goods to, be targeted by the US to round out that first round. Of fifty billion dollars worth of tariffs that then China would very. Likely match so, both sides hitting, fifty billion dollars on each side and then of course we're looking to this consultation period. By the end of August on this much larger group of Chinese products two hundred billion dollars. Worth, of the US looking to target they? Would then, no likelihood starts to impose tariffs in early September That is when China is likely to pull the trigger on this new list of sixty billion dollars worth of US goods flowing. Into the Chinese market I think a key question really. Is has Trump sided, with this US Trade Representative Robert lighthizer in the belief that, this is a chronic problem this trade issue, with China that's going to take years to resolve or is. He looking for short term fix before the midterm elections in November That was only. The Chinese and making that point. Very clear they're in it for the long haul Tom great to see this morning let's see. I the markets continue to absorb the latest headline so McKenzie in Shanghai let's in our guest this morning Tom check at Lang Asian FX strategist at UBS global wealth management joining from our Singapore studio great to have you with this this morning I. Take off with the the PBOC broke, its silence on Friday we stuck it into, the library it's there the longest losing streak on the Juan. Since its inception back in nineteen ninety four and what I really, want to know is has done enough to stymie the run on the one The weakness in the u on is not caused by the PBOC so he's a bit more More new ones because it is not about getting to the level that helps the economy but the UN is, actually under external selling pressure because as the US tricked takes its toll on the Chinese economy the UN has to actually reflect some of this precious given the Chinese. Economic data is actually going to bit weaker to where do they need to take the UN they. Are showing that they are slowing down the weakening of the because the is fighting. The market fos we think that seven could actually be a level that it could drift. Given it is how the US China trade is actually heading to. Us in the coming months It's been a, string of losses but there are some other important correlations that are being broker we put together a chart and we added that to our library as well TV gopher. Clients this is the negative correlation between dollar you want and emerging market peers that's deepened in light. Of wider volatility the beds are rising the trade wars rattling the one one thing's. For sure you are saying you know what avoid c. n. y. exposure why is that In the short, term I guess hit.
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.
TSMC recovers 80 percent of virus-hit production line, warns of production delays
"They've stopped defending, Neo, on they think it's going to help offset the US effort to. Get rid of their unfair trading sounded The. Currency fall, though I think it's just money leaving China because, it's a lousy investment and that continues that were really damage the Chinese economy if the Shanghai composite falls. Another three tenths of a percent. Today, then that would put it at about. A two, and a, half year low we've got some interesting data for China this week the probably one of the more important numbers are going to be trae data to see whether or not this trade war is actually beginning to creep into some of the numbers meantime China may actually be about to report its first half year current account deficit. In decades the story from Bloomberg's Yvonne man deutchebanks says, China is likely to report a current account deficit of about, fifteen billion dollars for the first half that will be the first half year deficit for the country since. Nineteen ninety eight db analysts. Juillet John and you say the expected to. Client is part of a, structural trend due to consumption upgrades and slower export growth and they say trade tension will reinforce the The. Downward pressure on China's current account in the second half. And in two thousand nineteen in Hong Kong Yvonne man Bloomberg daybreak, Asia well some well-known Asian tech stocks may be moving today on word that. Google is looking for partners to offer its cloud. Service in China details from Bloomberg's rainy incensio ten cent and inspir- electric information industries Asia traded stocks may get some attention today on word Google's parent alphabet is in discussions with. Them, on the initiative Yahoo Japan Nanjing panda electronics Xinjian son yes electronic China security and Shenzhen. Innovates tech are also stock to watch because, of this we're being told Google has been in talks on a possible partner on this since early this year and narrowed candidates down to three companies in the spring the goal is to run services like drive and docs, through Chinese data centers and servers but we're also hearing that trade tensions could make progress difficult Ramy, Inocencio Bloomberg daybreak, Asia Taiwan Semiconductor Manufacturing Co. Racing to recover after a crippling computer virus more from Bloomberg's Denise Pellegrini TSMC now says eighty percent of its fabrication tools are back after. Being, hit, by the virus. Friday, evening the Taiwanese company also says the incident will delay some shipments and hurt revenue operating margins for the quarter but it still sticking, with its forecast for single digit revenue growth for the year in. Dollar terms TSMC's in the middle of ramping up chip-making production for Apple's next iphones it's not saying which customers are, affected, by, the, delays, to, these Pellegrini? Bloomberg. Daybreak, Asia and TSMC opened. About one percent lower on continuing to. Trade around that, level two hundred forty four fifty stock has come up from just a little more than two hundred and ten dollars though over the past month or so. All right the time is now six and a half minutes past the hour let's get, the latest in news San Francisco Ed Baxter's there China's serving itself Ed throughout Asia, and, some, new reports that Make some progress with, as Ian tell us more, yeah well the conference over the weekend Brian has you know the conclusion there's some school. Of thought China's move to a better now relationship with Azza nations they're listening to them anyway dole who, is a senior researcher at Pango wall institute says they have worked out scenarios of mutual security help in situations like on the oil tanker what we are going to do. So all those measures that will move forward that longtime peace and stability cooperation between China and that's John countries I think yes indeed quite productive he says China will. Be important component. At that and at US stay Mike Pompeo's made the promise to talk to Russia about alleged violations on North Korean sanctions that detracts. From the. World's goal finally fully denuclearizing North Korea would be something that America. Would take very seriously and the, Trump administration is now admitting that there are definite problems in, the talks with North Korea National security adviser John Bolton on foxing promises. Have. Been, made there's nobody in this, administration, starry eyed about the prospects? Of North Korea actually denuclearizing but I think what's going on now is that the. President is giving Kim Jon, masterclass, and how to hold a door open for somebody US intelligence has been reporting now for over a week that Kim Jong UN is still working on ICBM development seven point zero. Quake Indonesian island Blomberg has taken at least eighty two lives now officials say the quake felt very strongly in, neighboring Bali, some, damage, done there. Australia's home, affairs minister Peter Dutton as one of those evacuated from oh tells in the region and we're getting reports of aftershocks USGS saying a five point three global news twenty four hours a. Day, on Aaron talk on Twitter power by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries in San Francisco I'm Ed Baxter this is Bloomberg I'll, take it over here, Toby Lawson Zor guests managing director at Salk gen securities Australia, Toby what do, these signals warn you about we've got, a flat yield curve we've got a sort of impending trade war we've got what's happening in emerging markets we commodities and China. Slowing what does. That tell you Picked him all on the on? The the worst case scenario and. All of those elements and I don't think. That's necessarily way at all I think. You could at flattening a. Little bit of moving on Flattening, Leach technically towards recession in the US into the. Twenty. Nineteen but right now not bad US economy strong early days and how's it going to impact TDP with a medium-term godly get. Brought at this stage not a hell of a. Lot of the impact immediately emerging markets will let US dollar story Have? You still, have strong that puts the pressure on the aims but during the last time we had a dollar crisis again fundamentally they're in better shape, than they would so I'm not as negative I roll but they certainly watch points you're looking at and they relevant are, you bearish on the you want I mean? We've seen, quite a bit of depreciation here over the last several weeks, in particular Friday when we hit six ninety one against the dollar. And then we had to the PBOC, kind of imposing. That the reserve requirement twenty percent on some four x. forward contracts what do you expect, for the you want I mean have they drawn. The. Line implicitly in the sand at seven No I think, this slide it up I think you have? A look, at the statements to that move on the wind shift significant He's nice surprise the PBS candy slow it down but I think this. Is not. Necessarily the end of it I just think it's. A matter of getting poised to happen at the, at the time banks nice surprise we saw that move coming from PBA identikit. Ends, it intends to pressure on the. One for depreciation but at least it'll give a bit of breathing space for the market, to Deep edit will be and subject. To have the trade will if they start to. Escalate how they will have an impact on, the Chinese economy you guys had sought Jenner usually pretty pretty sober and a. Little bit nervous so that's why I served up to you and I'll, come, from the other direction. When. We continue our. Conversation because as looking at Prada, LVMH and Gucci, these stocks are all surging and essentially that's China that's really. Where they have their big big moves so how do we square that with.
China, Bloomberg and Nissan discussed on
"Back they've taken five hundred billion dollars a year for many years five hundred billion we have really, rebuilt China you might remember that the end. Of last week Beijing released List of objects goods. Consumer goods sixty billion dollars worth that it intends to hit with tariffs this obviously in retaliation for President Trump's plan to impose duties on two hundred billion. Dollars worth of Chinese imports meantime China's central Bank is imposing, a reserve requirement for. Twenty percent on some trading for four x. forward, contracts this obviously will make it a. Little more. Expensive to bet against. The Chinese currency Nissan has agreed to, sell it to electric car battery business to, China's. Envisioned group no price has been disclosed but under the deal Nissan would be keeping a twenty five. Percent stake in the business Nissan had been planning on selling the unit. To a private equity group in China that deal, collapsed about a month, ago and on earnings watch lookout for. HSBC it will be reporting interim results investors are looking for. HSBC to deliver. I better message on cue. To revenue versus growth and they'll be watching for, the Bank Margin outlook, as well, h SBC sizable trade finance business will also be in the spotlight, given the fact that we. Were talking a lot about these trade tensions and how they're intensified SoftBank is. Another, company to watch today the stock as well with quarterly results coming out we get more on that from. Bloomberg Susanna Palmer soft bank's operating income probably fell in the June quarter amid sluggish. Domestic telecom earnings and assuming a lower spectrum exchange gain at sprint valuation gains for. Soft bank's tech funds probably, weren't enough to offset, that since it's flip cart stake sale to WalMart hasn't been completed. Soft bank's founder overseas the largest tech fund in history the vision fund has been pouring money into industries such as ride hailing ecommerce digital. Payments satellites semiconductors agriculture. Cancer detection and artificial intelligence Susanna. Palmer Bloomberg daybreak Asia we're thirty-three past. The hour we've got a relatively stable Japanese yen, against the dollar here at one eleven Twenty, four let's, get. To Tokyo checking with Bloomberg's. Jeff Sutherland he's got his eye on the market in Japan good morning Jeff Good morning yes it fairly slow here, some common, the market after some drama last week when the be okay said they'll allow some flexibility on bond yields right, now the yen a steady this morning after I climbed point four percent, on Friday on the, back of the US jobs report and then. Dr, fled also at that comes after they lost one point nine percent last week think tech companies. In automakers doing very well well the banks are lower for carmakers looking at Toyota, that step on change right now on Friday the company's earnings topped estimates and it. Kept it full year earnings forecast on changed. But then it flashed its prediction for, North American sales for a trade war talented. So there's more earnings out ahead this, week he. Mentioned SoftBank coming up later today and, another thing. To want to economic data we have GDP coming. Up on Friday All right, thanks to Bloomberg's Jeff Sutherland. One of the key focal, points for markets today is going to be the relationship, of the on, a with the dollar we had a strengthening in the New York session Friday, that, was after the PBOC. Imposed we were talking about this earlier reserve requirement of twenty percent on, some trading of foreign exchange forward contracts then a short, while ago, the economic observer a port reported that PBOC advisor was saying do you want won't break seven per dollar now, we got as weak as six Ninety-one during the New York session actually, this was late in, the Hong Kong session on Friday it strengthened. During, New York trading right now we're trading at six eighty four forty eight that's the offshore you. Want against the dollar Bloomberg dollar spot index meantime after a weaker session on Friday, it's moving up by about one tenth of one percent the US tenure treasury yield. Now at two ninety five we had the. Employment data to sift through on balanced, kind of mixed but it really doesn't take. Us away from the notion that the is going to raise rates at least two more times in calendar two thousand eighteen w._t._i. crude oil meantime sixty eight fifty four and a quick recap of equities nikkei now weaker by about one tenth of one percent in hong kong no trading yet kospi is up three tenths of one percent and in sydney limited trading and we have the a._s._x. two hundred higher.
China's consumer inflation picks up in June
"With brent crude at seventy eight dollars and sixty one cents higher by about two thirds of one percent this is a us government report is expected to show a decline in stockpiles for fourth week out to the past five yousef yeah let's cross over to singapore where wes goodman from the markets live team joins us wes chinese consumer prices for june came in at one point nine percent producer prices were slightly higher than expected at four point seven percent what these figures say about the outlook for the pbc right hi good morning everyone well you know especially the one point nine percent gain in consumer prices i think shows that inflation is in check and this will give the pboc room to ease policy to keep easing policy as the the us us tariffs threatened to to slow growth in china the pboc seems to be pursuing a policy of targeted easing for example by freeing up money for banks last week the socalled triple arcot and there was a central bank adviser today who said there's room to keep pumping money into the money market to keep adding liquidity which has the effect of bringing yields down so inflation in check that will allow the central bank to keep taking these steps what we're calling targeted easing steps which it has been doing to help the economy another story that we're looking at west is these continued gains that we're seeing in asian equity markets the topics index higher for a third consecutive day alongside the asia pacific index as i was saying earlier what's driving this advance and this advance in japan particularly right yeah you know for the past couple of days the all the action has been in china stocks but today it really focused on japan there seems to be some strength fair and that comes in tandem with a weakening in the yen again is approaching its lowest level since january and keep in mind not essential theme for all these asian countries is that a weaker currency helps them keep up demand for their exports so the yen is weakening that's helping japan stocks the topics still down more than five percent this year and so maybe some help for the currency heading into the second half will will help stocks recoup some of those losses there you have it right wes goodman thank you very much for.
Germany and China sign deals, lobby against US trade tariffs
"To foreign investment drawing a contrast with the us stance on three she spoke after talks with chinese premier li chung in berlin i think reliable cooperation is particularly important in times of worldwide insecurity and this is also important to openly discuss issues we are not agreeing are achieving success at the same time correspondent tom mackenzie joins us from beijing tom is this a clear message a clear signal that a united front is being formed against the folks watching well certainly both sides are more clearly singing from the same hymn sheet when it comes to defending push back against what they say is protectionism defending and upholding the global rulesbased system as you may say the proof is in the pudding it isn't just symbolic that's what the germans and the chinese would say they point to this deal that was unveiled in berlin for the big chemicals company in germany to invest ten billion dollars in guangdong southern chinese province an owner fully outright now locals said that was an example of the chinese putting their money where their mouth is in terms of market access on the other side you've got to chinese firm the biggest maker of electric vehicle battery saying it's going to open a factory in eastern germany but there are issues that remain divide these two countries germany and china that i'm reliably to be resolved in the near term around level playing field that something that merckel highlights and also investment from china into germany lawmakers in burling looking to greater is that chinese investment those issues remain we've had a little bit of a spike higher in the nearterm inflation numbers but they're still fundamental concern that ppi or factory inflation is fading number from china what are the drivers behind the numbers on this spike in this month yeah you're absolutely right so we got a number of four point seven percent above the print that we got in may four point one percent some of the drivers the oil price was key today's the metals prices were bit makes so copper with a little bit higher but some of the steel prices were softer as you say though the consensus is that these juicer prices are going to soften in the second half that will make it more difficult for these corporates to pay down some of that debts make that deleveraging campaign a little bit more tricky in terms of the consumer prices those ticked up just marginally one point nine percent from about one point eight percent back in may take up in food prices still aways from that pboc target of three percent so no direct pressure at the moment at least in the short term on the act in relation to those consumer prices but yes potentially looking producer prices is factory gate prices slightly softer in the second half of the making that job a little bit more difficult in terms of the debt telmex reporting a china correspondent tom mackenzie in beijing's and breaking lines any of the bloomberg on turkey again we have been seeing a cascade of decrees being published with the new position of president richard tiber and now we understand that he has been power to name the central bank governor we also understand that there's been a change in the term limit for the central bank governor four years instead of five years this comes down to hide much power does everyone have the markets wanted to see somebody like simsek reappointed back into the cabinet they didn't get that they got his soninlaw he's going to be in charge of treasury who's going to be in charge of finance and that's what's on seeded the market at turkey bars the president from removing the central bank governor and that's going to be that's going to be moderate that's gonna be moderately bullish for the currency that's going to be some kind of framework in terms of the tenure of the central bank ownership and let's see how that plays out on the market for the moment you've got dollar lear virtually no reaction at all we got crushed yesterday done three and a half percent yesterday but it underscores that there's going to be still some sort of independence for the central bank here as much as it is a more powerful position for the turkish president we'll keep a close eye on this for you let's get back to the conversation with pineridge investments omar slim he's still with us from our singapore studio omar i want to get into this china data and we put together a chart that.
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.
Global stocks tread water on trade worries, yuan steadies
"Radio an interesting things happening in the markets today in terms of the un that of course still very much in focus off to the pboc verbally propped up the currency we all seeing a little bit of strength when it comes to the onshore and the offshore yuan today so relief from the weakness that we've seen in past days and weeks we see the on shore you and trading at six sixty to ninety one of the offshore at six sixty four zero four so pulling back from that six seven level that was seen as pretty key and a line in the sand after the pboc for some taking a look at how the dollar's doing the bloomberg dollar index off by some one tenth of a percent against the greenback the south korean won south african rand and aussie dollar of the major currencies outperforming but most major current these are gaining against the dollar if we take a look at what's happening in asian equities so here you're not seeing quite the risk off that we've seen in some other sessions the mci asia pacific index treading water earlier it's off by about two tenths of a percent at the moment so a little bit of risk off with those trade tensions still brewing the hang sang very much underperforming down one percent at the moment in the fixed income space of course we've got treasury markets closed as us stock and bond markets are closed for independence day happy july fourth to anybody listening and celebrating of course the european bomb markets cash markets opening up about now as well we'll bring you those prices and yields as we get them and turning two european currencies the euro unchanged one sixteen sixty seven let's take a quick check on table as we are focusing a quite a bit on brexit in this hour cable unchanged to bang on the nose at one thirty two marcus or you were talking earlier about the risk of sentiment in the asian equities session looking at a european futures they too are pointing lower with less than an hour to go before the opening euro stocks fifty futures down by thirty or or by thirty basis points zero point three percent rather we're seeing footsie100 futures also on the back foot tax futures done by four tenths of one percent cacao futures down by a run about one third of one percents whereas i say a little bit of a risk of sentiment perhaps ahead of the open after gains yesterday the stock six hundred gaining run about eight tenths of one percent in tuesday's session when it comes to commodities this morning.
Oracle's forecast miss overshadows cloud growth, shares fall
"The way that was lloyd blankfein speaking earlier in the conversation with bloomberg editor in chief john mickel three so if it's not risk on risk off maybe the the glasses either have full or or half empty well china's central bank is calling for investors to remain calm after yesterday's trade related turmoil in markets bloomberg's yvonne man tells us the pboc is also pledging to use monetary policy comprehensively if necessary governor ye gong says policymakers are prepared for outside shocks and he's urging investors to remain rational in an article on the central bank's website lease says stock market turbulence is mostly driven by sentiment any promises to be forwardlooking prepare relevant policies and use all kinds of monetary tools the has already injected sixty two billion dollars into the economy so far in june the most in any month since december of two thousand sixteen in hong kong i'm yvonne man bloomberg daybreak asia well the long running joke about a starbucks on every corner in the united states may soon come to an end that story from bloomberg's denise pellegrini starbucks announcing it's closing one hundred and fifty company operated stores in densely penetrated us markets next fiscal year that's three times the number at historically shuts down annually starbucks is switching the focus to rural suburban unless caffeinated urban neighborhoods instead and the coffee chain also says it expects comparable sales to rise just one percent this year that's way below the two point nine percent analysts were expecting and would be the worst performance in about nine years meantime bloomberg intelligence says china offers a lot of potential for the coffee chain but trade wars are currently casting a shadow over those long term prospects denise pellegrini bloomberg daybreak asia reminds me of the james g novel a death in the family one character in that books was quoted as saying where he did say i hate that feeling when the bottle is empty and you're half full speaking of filled starbucks shares were down about two percent in late us trading so another stock we're tracking in addition to oracle now we talked about oracle beating earnings and revenue estimates in what you might think was a sign of traction for its at cloud computing but oracle is forecasting profit for the current quarter that is far below what the street was expecting that maybe signaling the company is struggling to make that pivot to cloud computing oracle shares were down nearly four percent in late us trading.
Amid damp sales, Starbucks to shut 150 cafes in US
"Any promises to be four looking prepare relevant policies and use all kinds of monetary tools the pboc has already injected sixty two billion dollars into the economy so far in june the most in any month since december of two thousand sixteen in hong kong i'm yvonne man bloomberg daybreak asia the long running joke about a starbucks on every corner in the united states may soon come to an end more on that from bloomberg's denise pellegrini starbucks announcing it's closing one hundred and fifty company operated stores in densely penetrated us markets next fiscal year that's three times the number at historically shuts down annually starbucks switching the focus to rural suburban unless caffeinated urban neighborhoods instead and the coffee chain also says it expects comparable sales to rise just one percent this year that's way below the two point nine percent analysts were expecting and would be the worst performance in about nine years meantime bloomberg intelligence says china offers a lot of potential for the coffee chain but trade wars are currently casting a shadow over those long term prospects denise pellegrini bloomberg daybreak asia and starbucks shares fell about two percent in light trading another stock retracting this hour is oracle had beaten eggs and revenue estimates and what he might be tempted to think is a sign of traction for its cloud push but oracle is forecasting profit for the current quarter the falls short of wall street distance that maybe signaling that it's struggling to pivot to the cloud oracle shares fell almost four percent might trading already is five and a half minutes here past the hour it's time for global news nited states has pulled out of the un human rights council boomberg ted baxter has global news from our bloomberg nine sixty san francisco newsroom ed yeah right brian secretary of state mike pompeo says it is hypocritical and it does not work amir look around the world today demonstrates that the council has failed in its stated objectives its membership includes a thorough tarian governments with unambiguous important human rights records such as china cuba and venezuela now bloomberg's nick wadham says this has been in the works but now it happened at a time when the council has criticized the us for the separation of families at the border nick says the us will lose cloud to fight for better human rights globally us membership on the body is generally seen as a symbolic measure that allows the us to keep up its role as a leader in human rights fear so the decision tobacco will be damaging for that meanwhile donald trump is doubling down on explaining why the children need to be separated from their parents and when you prosecute the parents coming in illegally which should happen you have to take the children away now we don't have to prosecute them but then we're not prosecuting him for coming in illegally that's not good and he also says you'll begin going after the government's from where the migrants come he has met with a house committee today working on a bill and he hopes to have something done as do the members meanwhile republicans are starting to separate themselves from him and come up with their own solutions this is mitch mcconnell the senate majority leader address issue i think we've got a problem we need to fix it everybody agrees you need to fix it and we're going to work on that one of the solutions is a move the families to the head of the line and then put them facilities where they are together until their processed and bloomberg news is reporting the trump administration plans to pay southwest cay programs inc four hundred fifty eight million dollars this year to pay for the immigrant children china's president xi jinping has told kim jong un he hopes north in us can fully implement the singapore agreement she citing the reports that cam pledged to work toward denuclearization in exchange for us security guarantees state broadcaster cctv reports she told kim that he hopes negotiations are on track and that the situation will continue to move in the direction of peace and stability global news twenty four hours a day on air and a tech talk on twitter powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries in san francisco i'm ed baxter this is bloomberg brian thank you very much eight minutes past the hour we're joined by stephen ns head of trading at asia pacific or for the.
"pboc" Discussed on Bloomberg Radio New York
"Is that the recovery trend that started since may twenty sixteen is largely continuing in the chinese economy reflation is still very marching tact in think in terms of growth momentum i think so far this year things have been a little bit softer compared with last year so if you read some of the details are even trees is up little bit new export orders slowing a little bit just at the margin and that's i think quite consistent with the data we have from the other so export oriented economies in the region but only marginally softer i think is the main message and the overall recovery trend is largely intact so does it create a change in in terms of policy response does the pboc do something different to support growth going forward is acquitted these story is at an interest rate story i mean well how did things change necessarily to make sure that things don't slow even more well i think that against the backdrop of these very stable economy apology have been actually changing quite fast this year so we've had a lot of tightening our fiscal empowers is infrastructure investment slowing quite a lot which seen financial regulations are really becoming more effective as they're starting to get enforced and it is triggering a lot of adjustment on a part of financial institutions in terms of the socalled nonstandard nonsense quite asset investment in other words are shadow banking investment as a result of has had to i think shift to a slightly easier side of their so called neutral range so they'd be more accommodating in the interbank market with liquidity injections and i think that these set of policy adjustment are taking place against a stable backdrop is one of the reason why policy makers feel confident to go ahead with his policy adjustment and this will be a trend that continues speaking of policy adjustment very interesting to see what's happening with the six spot four zero four seven at the moment we sort of course we can to that six point four level for the first time since january a couple of days ago we had a really interesting shot and i don't like to brag but i want battle of the charts on tv yesterday with this chart showing that you know is this a story about the weakness in the or is it dollah strength what's your view julia my view is mostly really about the dollar because a dollar provides really.
"pboc" Discussed on Bloomberg Radio New York
"Pboc a wick weakened that daily fixing by more than the market had been predicting as we get set for the trade discussions that will be taking place in beijing between the us and china no trading in tokyo given the holiday their futures are trading though on the nikkei in chicago and they are weaker by about a hundred or so points from where we finished in the cash market in the prior session in japan and as a result of the holiday there no trading in the us ten year treasury last quoted in new york at a yield of two point nine six percent and right now i'm seeing just a bit a weakness in the kospi higher prices in sydney with the asx two hundred up six tenths of one percent paul well north korea has reportedly released three americans held in labor camps with veteran other global news his macro all right thanks have what appears to be a goodwill gesture ahead of the planned summit between kim jong un and president trump north korea has reportedly released three americans being held in north korean labor camps the state department is awaiting confirmation of that report from the financial times secretary of state mike pompeo is also believed to have discussed that issue when he traveled to north korea on easter weekend pompeii was sworn in today a secretary of state as the us considers pulling out of the iran nuclear deal and president trump prepares for the kim summit addressing state department personnel pompeii oh talked about tensions with north korea we have an unprecedented opportunity to change the course of history on the korean peninsula i underscore the word opportunity or in the beginning stages of the.
Chinese stock prices March 19th 2018
"The hour i'm bryan curtis in hong kong risk off mode here in terms of the moody in asia with most of the markets now trending lower let's try and love doll in shanghai for a look at the china markets ryan good morning brian chinese stocks are falling today with coal producers among the biggest the kleiner's yanzhou coal mining is down four percent the biggest drop on china's three hundred large cap index while china's central energy is falling two point seven percent china's central on friday reported that its coal sales fell thirteen percent in february from a year earlier apple supplier lens technology is down as much as three percents after bloomberg reported that the iphone maker designing and producing its own device displays for the first time brian back over to you all right thanks very much let's take a quick look at the housing prices february new home prices rising in forty four cities monthonmonth in china that's versus fifty two in january and this is out of sample of seventy cities the year on year prices well up fifty nine cities out of fifty nine in the month of january and another mention here this morning you can't say it enough china has named egon as its i knew pboc governor in some fifteen years wti crude sixty two oh two gold is at third ten eleven and we've got the yield on the ten year treasury two point eight five percent twelve minutes before the top of the hour off san francisco we go let's get a news update and here's our ed baxter brian thank you polling today japan not good news for prime minister shinzo avi four polls tumbling to have him at his lowest level since he took office in two thousand twelve the assign is baker poll shows drop a thirty one percent to thirty one percent from forty four percent in a month that is a thirteen point drop in one month south korea saying that kim jong un has given his word and a commitment to eventual denuclearization north korean diplomat who handles north american affairs chokingly is headed to finland for talks with the.
Trump signs tariffs but exempts Canada and Mexico
"The money collapse thirty plan here in hong kong i'm deborah mallet the first word news poll president trump is set to make kim jongun and why would be the first ever meeting between north korean leader at a sitting us president korea says the north will suspend nuclear and missile tests ahead of the talks which we're told we'll take place by may president trump says he's made great progress while president trump signed the order imposing tariffs on steel and aluminum imports while exempting canada and mexico and leaving the door open to sparing some other nations meanwhile eleven pacific rim nations signed a sweeping freetrade agreement and they reiterated their opposition to protectionism out the outgoing pboc governor says china can accelerate the opening up of the system by speeding up reform of market access joe such line told reporters in beijing that emphasizing quality growth can reduce reliance on biden reflective joe said he's been very fortunate to lead the pboc for fifteen years we have been preparing after joining the wto for several years to further open the market but unfortunately met with a global financial crisis now that we are in a new stage with regard to market openings we can be bolder and make the degree of opening even larger bubble is 24 hours a day powered by more than twenty seven hundred journalists and analysts in more than 120 countries this is bloomberg let's get over to julian szalai now for a look at what's moving in the markets today juliet well debra of kohl's to that potential meeting between trump and kim jong an israeli the focus will invest it today you have seen the msci asiapacific index jumped the paytv five 459 shows you these move but we have seen a sell out of those safe haven asset said the blue line they're showing the drop that you have seen in the japanese yen let's have a look at the overall market action of course a lot of focused on korean stokes today we had xinyuan asset management selling bloomberg that you could say the cull speak rise by thirty percent if north korea were to give up its nuclear weapons that korean kospi up by one percent today also some strong buying coming through eight hong kong's hang seng index and the other big news of the day of course was the fact that president trump had signed those steel and aluminum tariffs.
"pboc" Discussed on Bloomberg Radio New York
"Quote credit for the word were confused us not there which when we're talking about i've been discounting it and i think investors at discount get because at the end of the day it's against american interests and uh i think trump's administration is quite confused about what they're strategy is it even though light haiser is pushing this he's he's not the main force in the administration absolately really going to look at how many american corporate interests thera against some of these trade sanctions as well if we move towards the npc in beijing quite a bit of witness coming through in other hong kong stocks yesterday about concerns that we could say policies tightened as that lawmakers really kick off this conference what are you expecting to see or hear from the npc while the abc's of it has talked about monetary tightening i i don't i sort of discount a lot of that interest rates have been creeping upwards of the pboc the central bank is driven trying to squeeze a some of the weaker banks by raising interest rates which has also been good for the profitability the state banks because they have a lot of savings and so they're net interest margins have done quite well but meanwhile there's a whole bunch of other sources of capital going into the economy land sales for example were up forty percent in two thousand seventeen to five trillion over five trillion renminbi and now there are actually creating a local fund of five trillion of four local governments so there's a lot of other money so i kinda discount some of the verbiage coming out of the npc you're not worried that spending we'll be less aggressive stimulus will be less aggressive in this year thus growth little growth will be slower all as i said you know that the official narrative is to cut back on bank loans because they're worried about the risk of the banking system but meanwhile they're running out in getting a lot of other a capital of land sales are quite significant and there's other things to okay andrew will continue to discussion wanna talk about the pboc as well and lots of other uh ideas coming out of the npc yesterday andrew collier is managing director orient capital research the markets well we've got a new markets opening up then there's a lot of.
"pboc" Discussed on The Cryptoverse
"I am the bcc found a positive that the pboc were removed china's exchange ban get okay here we go pboc quashes bitcoin mining ban remain china this is round the coin desk oven just pick this up my new scana so when was this published today at s will yesterday at five p m so the people's bank of china has put to rest the room with a would order a domestic showdown of big we money activities according to local media outlets okay so they'll go a report published in the fourth agenda by the chinese business will plication cayzac casing said china's central bank did not host any meetings to discuss a policy requiring the closure of bitcoin mining operations in the country by saddened deadline the meeting had supposedly taken place on the fed of january boom thales all we need to know not true right they we go so that's not true so that seoul's thou these subsidy thing may still be true will have to be better on that next time and given a dope dipoto in terms of the china banning bakley mining thing to sa no true gordon to the people's bank of china so we got i think who who is saying this i think it was the was omar bams at this with god's to china's light yeah we don't like new innovations and changes until they can get control of it and then i like i like hey maybe maybe is acceptable and you know maybe we can get some tax revenue even gets a coat from it then all of a sudden you know they are friendly to it you know saying.
"pboc" Discussed on Bloomberg Radio New York
"The hour and we say good morning to nearly gung who is chief china economist at citi group global markets as our next guest and we've got a nice eight minutes slot here so we can really sink our teeth into the chinese economy i know juliet will love that i will as well i guess one big question that looms this year mr leo for china watchers is is whether or not the authorities manage this kind of planned slow down into a more sustainable type of growth a healthier kind of growth soap army doesn't seem like were slowing down at all but but this is the effort that they're apparently on you think it goes smoothly i don't think it will be worry smooth especially in the coming year we received lot how financial sector wanted peace as we know that uh since march last year the cb rc together with the pboc have being able to in a engaging a financial deal averaging and towards the end of were this year the bond market has been your wallet tall and we think that too small and medium banks we're experienced the most help the or you you know the burden in engaging how will the deal averaging and the during the course of the year if some up the small and medium banks cannot manage to their recruited his conditions well we may see some markets stress although our botham lies that uh no uh you know two thousand fifteen a a stock market boom and bust type of scenario but we cannot exclude the made some substantial off significant market volatility in china other than that on the real economy side we think that six point five percent growth is the well achievable because if you look at the fiscal program this year together we is the amount how credit to be extended to the.
"pboc" Discussed on Bloomberg Radio New York
"Radio this is a bloomberg business flash from bloomberg's european headquarters in london i'm mockus calls of with this bloomberg radio business flash there was no mejia fire wax fund the fed concluded its lost meeting all they lost night but china's central bank did provide us a price overnight with the pboc raising shortterm interest rates on the fed side that was a twenty five basis point rate increase as largely expected but the market took away somewhat dovish biased perhaps as the us central bank kept its hiking plans for next year intact even as the growth forecast for the us economy was upgraded johnny hsieh's so a modest state owned that pdo see news that i mentioned but the impact teeth have been limited elsewhere in asia looking at the big picture the embassy i asiapacific index is appointing buzz airport one six percent the cost index has been higher higher by as much as one point three percent this session it has now pegged back some of those gains to trade higher by half of one percent the hang sang retreating by about four tenths of one percent the nikkei two two five index in japan finishing the day lower by run about three tons of 1 percent with banks providing a dragged off to the fed it fx the blue bug on the spot index is little changed this morning after dropping last night the osce dollar is the biggest riser against the gray back among major currencies hitting a fiveweek high after better than expected jobs fake is looking at some of the crosses eurodollar at won't spot eighteen 26 little change we're seeing dole again at one hundred twelve swac 65 which means that the japanese yen is off by a 10th of 1 percent treasury yields drop last night where the fomc officials kept r dot plot intact said there is a little bit of a snap back today where the 10year yield trading at two point three six percent higher by almost two basis points said this ofter a a decline of almost six basis points lost tonight but is a bloomberg radio business flash for more on what's going on around.
"pboc" Discussed on Bloomberg Radio New York
"The pboc setting a much stronger reference rate for the you want against the dollar at six point six zero three three on short now six point six zero nine zero offshore six point six zero nine zero so word parody let's get to san francisco shall we so we can update global news ed baxter in the bloomberg 960 newsroom that the very latest to eddie i thank you doug the south korea us military drills run put off until april chosun report this would come after the winter olympics south korea has been concerned that kim jongun could disrupt the games innovations on void in north korea meanwhile is returned home deeply worried about ending a kim's nuclear program he says kemp says it's not the time for talks china says it doesn't feel north korea we'll give up working on nuclear program until it feels it can defend itself from the us japan's plan to restart its nuclear reactors has been derailed by a high court decision us house passes legislation that would require the treasury department to issue reports the congress about the total assets held by iran's most senior political religious and military leaders the uk house of commons has voted to insert itself into the brexit negotiations a defeat for prime minister may and movie exact based in hong kong who's been an associate of harvey weinstein has been accused of sexually harassing actresses in his offices and film sets bay logan as issued a statement saying he is remorseful global news 24 hours a day powered by more than twenty seven hundred journalists and analysts in more than 120 countries in san francisco i'm ed baxter this is bloomberg bryant and thank you very much the time is now ten minutes before the top of the hour i'm brian curtis along with juliette solid while the european union is tightening regulations on data privacy is called gdp are it's a regulation that requires businesses.
"pboc" Discussed on Bloomberg Radio New York
"White house is planning for as it stands now allocating at least two hundred billion dollars in federal funds over ten years that would be a way of inspiring states to spend at least eight hundred billion dollars and what it it was for bitcoin at least a good day for an hour as so the cryptocurrency skyrocketing to almost twenty thousand from sixteen thousand in about ninety minutes today on the coin base gede acts exchage but then came back down to earth boom even made an australian a billionaire four along 45 minutes the bitcoin aggregate right now up about one percent after gaining twenty percent in the us session the bitcoin the cboe i should say by the way starts trading bitcoin futures in the us on sunday and we will be covering it live for you right here on bloomberg radio all right let's pivoted china next where the central bank various other beekeeping in very close contact with a big banks on china's recent route in the bond market we are told the pboc met with policy lenders and some of the big commercial banks this week they wanted to assess the damage done by the route in bonds also looking at issues like year and supply and demand and we're hearing that china development bank and agricultural development bank of china may now reduce their planned issuance of bonds at bostonbased bain capital is getting ready to spend big here in asia for advertising mna more from bloomberg's denise pellegrini dane says it's ready to spend nine hundred million dollars or more to acquire digital advertising companies.
"pboc" Discussed on Bloomberg Radio New York
"The pboc set to the you want daily reference rate at a weaker six point six four seven three against the dollar offshore right now the you want trading six point six six zero six that's weaker against the buck by about one tenth of one percent in the asian session the onshore currency will begin trading at the bottom of the hour we are also told the pboc sold 63 reverse repos for the first time where the equity market in tokyo is concerned the nikkei is higher by about six tenths of one percent some of this may be attributable to a uh a weaker yen visavis the dollar here at one fourteen point one seven we had a lot of us strengthening in the dollar during the new york session largely because of a route in the euro against the dollar ecb president mario draghi promising to maintain nearzero interest rates for as long as necessary so the euro trading a dollar sixteen twenty nine and during the new york session we had the bloomberg dollar spot index higher by seven tenths of one percent we had some very strong earnings reports many came after the bell here on the states from some big tech bellwethers that's posting futures on the nasdaq one hundred eat many contract they're up by about one tenth of one percent right now equity market in the cash market during the new york session was kind of mixed dow higher by three tenths of one percent sp up onetenth but the nasdaq composite drifted lower us 10year treasury in tokyo now to yield of two point four five percent let's get global news will go to the bloomberg 960 newsroom to check in with a baxter he's got the headlines as i dug thank you china taken the initiative to develop closer relations with south korea south korea meanwhile asking to be able to control it's all military if war breaks out the us says it fears it's not ready taiwan's president size saying now's the time for china and taiwan to talk bloomberg bna reporting that japan's prime minister ave sales tax hike plan could be delayed quoting now moral holdings bloomberg reporting the.
"pboc" Discussed on Bloomberg Radio New York
"Annual g thirty banking seminar that the best guess is consumer prices will soon accelerate after surprising softness her forecast was that could by the heads of the ecb and bank of england meanwhile when you look at the back of japan though that seems to be the outlawing of course uh governor haruhiko kuroda saying the boj will continue to pursue monet carrie easing meantime and staying in asia the governor of the pboc joe xiaochuan says china's debt has become a little bit too big gan needs trimming when possible and that something bloomberg's tom mckenzie calls a warning shot protecting can time in about a week we've heard from the pboc governor we heard there was an article printed in a respected financial magazine hair last week with the pboc governor thing that they need to be a great push great to focus on roof home cooked about the yuan convertibility you talked about the need to reduced capital control he talks about the need for greater foreign investment in the domestic market fear the second time we've heard from him in a short space of time and of course a significant leading up to this very important political event upon congress kicked off on wednesday is seen a thumping of cuba within the communist party and he expected to step down from his post at some point this year and that was bloomberg thomas kenzi reporting and as he mentioned the party congress which happens twice a decade kicksoff mid week in beijing well let's stay with a theme of politics and pivot now to the us because it could be a big week for tax reform the senate may take up a budget resolution this week and that could lead republicans to republicans being able to pass tax reform by a simple majority now senator susan collins of maine back in 2015 was the only republican to vote against a senate budget resolution now though well she sang she could likely vote to approve the budget this time around as she wants to see the tax reform her yes vote would pave the way four we haven't had an overhaul of the tax code since 1980 sex i don't think they says single american new paying the tax.
"pboc" Discussed on Bloomberg Radio New York
"With the north here we have us treasury secretary steven mnuchin foreign financial institutions are now on notice that going forward they can choose to do business with the united states or with north korea but not both all right so meantime the white house says the china's central bank this is kind of interesting president speaking here for the pboc he says the pboc is ordering financial institutions to stop dealing with kim jong un's regime now we have reports coming over through yonhap and that north korea and countermeasures relative to these sanctions may mean a hydrogen bomb test in the pacific ocean on unprecedented scale will talk more about this when we check global news with ed baxter in a moment or two juliette over to you we'll syngenta mighty running into travel refinancing pot of its forty three billion dollar purchase by state earned can china we get more on they spend linda extends pellegrini the swiss agrochemical giant may be hitting a roadblock with investors were told wouldbe bondholders are pushing back on this structure and terms of the new notes the notes apparently amid certain guarantees and also leave out restrictions against the company moving money between its various entities and borrowing certain types of have additional debt in p paribas citigroup and credit suisse declined to comment on the story but we're told one broker has told clients not to expect pricing this week as syngenta considers possible changes to the offering denise pellegrini bloomberg daybreak asia to japan next where japan post is said to be facing better luck with its shares well we're told underwriters have secured orders for the entire eight point nine billion dollars this is the retail portion of the latest secondary offering the overseas portion was fully subscribed last week on the very first day japan post will be eyeing pricing bshares on.
"pboc" Discussed on Bloomberg Radio New York
"Premium phone is likely reference to it being a special ten th th anniversary edition thus the roman numerals tim while the pboc has removed a reserve requirement on the trading of foreign exchange forwards a removal would make it easier for traders to by the us currency thus reduce pressure for further you want appreciation and we see the offshore chinese currency down about a third of one percent this morning the end is also weaker it's down about a half a percent against the dollar and the euro is trading at a dollar twenty eleven equity prices the nikkei up to 66 thanksgiving index up to sixty one and the shanghai composite has put on gains of about a half of 1 percent global news 24 hours a day powered by our twenty seven hundred journalists and analysts in one hundred twenty countries from hong kong i brian curtis this is bloomberg bob moon welcome back to our weekly look into hedge funds and asset management if only there was a command on the bloomberg that would get us to this topic if you want something done right do it yourself because a bit critic of the rise of exchangetraded funds is starting peggy his own etf and to talk about it we have bloomberg etf reporter carolina wilson with us in studio thanks for joining us carolina thanks for having me so talk about this veteran hedge fund investor who's actually talking about doing ets his name is mark eusko why is he going down this road yeah and and mark is definitely known in the marketplace as as you said this veteran hedge fund guy his firm morgan creek capital management they invest about eighty percent of their two and a half billion dollars with hedge fund managers but like a lot of active majors today eusko doesn't wanna miss out on an opportunity to capitalize on this surging popularity of exchangefreighted funds so he's aiming to come out with his own etf bringing the active manager in him together with this etf rapper to create what's called an actively managed etf we've seen this increasingly more and more active managers who wanna be a part of this huge distribution channel that egypt's have developed active as opposed to.
"pboc" Discussed on KBNP AM 1410
"Here's a few years so let me ask you we just heard a bit about a about regulation in the context of you as your your closer and proximity geographic proximity to to the pboc of course in china and last week we had a meeting to discuss the regulatory responsibilities let me just ask you a bit about how they've changed revolved of course we push it to the meeting of the congress at the end at the end of the year the pboc is regarding regulation at this point now well i mean the obviously this is a masterly putting you for for china in terms of the 90 party congress and within that the very israeli tree organizations so you the cbo see various other types of regulators and the pboc itself third media focus right now is raining in excess leverage and that's what you've seen the backup in mug interests he's also as you said regulate the new financial system that comes out of the new government which we get in the next party congress we had the pomp and circumstance surrounding the unveiling of the one belt one road initiative how does not stand to change the economic jittery not just of of china but in countries trying to get those in which it it's involved in other words you have which sounds like a momentus amount of investment house that stand to change the region generally all shoes lee but but but the problem is one belt one road is gonna be measured over decades rather than a year two years it's it's very difficult to say it's the success or failure states such momentus program both in terms of land building land infrastructure and also a difference see trade routes there used to be currency wars you've written about him for years usually the media plays the one in the public plays them another way i think of brazil is being totally different than singapore in the the currency wars of the kurds were still out there well the country was most definitely out there and if doubts when government so failed to get an think over the line of legislation the easy win is tweaking currency easy historical model still there get the other weakness burma's harming other other countries have done this either deliberately or accidentally japan frence's from two thousand twelve with the administration weakens the.
"pboc" Discussed on Bloomberg Radio New York
"There's a lot of nasty caters who think that september's going to be we get more clarity on one in fact that that might happen but by outlining the way in which they did have been able to put that aside so they can focus squarely on on raising rates not have to focus as much in the future that balance sheet would certainly not an issue that institutional investors have the golden about i mean the the quite a few people out there either on the buying side of the cell so i do hope that there will be any impact but but after role given this huge amount of liquidity injection which then resulted in real acid inflation you would assume that he's going to have some sort of impacts when part of that liquidities is drained the certainly never going to drain reserves back to where they were before the cross curled thank you so much for today that you will the news is well and television with eurasia group your burma's eurasia group his head of global markets research readiness futures negative three dow futures negative nineteen yields mixed this morning david gura with tom keene this is bloomberg mm you're come have a few showers though the let me ask you we just heard a bit about a about regulation in the context of the us government your your closer in proximity geographic proximity to to the pboc of course in china and last week we had a meeting with the discussed the regulatory responsibilities let me just ask you a bit about just how they've changed revolved of course we push it to the media of the congress at the end at the end of the year gives the pboc is regarding regulation at this point now well i mean the obviously this is a massively important year for for china in terms of the 19 th party congress and within that the various regulatory organizations so you the cbo see various other types of regulators and the pboc itself their immediate focus right now is raining in excess leverage and that's why you've seen the backup in interest royce but also how to as you said regulate the new financial system that comes out of the new government which we get in the ninety body congress we had the pomp and circumstance surrounding lew the unveiling of the the.
"pboc" Discussed on Bloomberg Radio New York
"Necessarily coordinated while i suppose they like to coordinate in in some cases but they also like to preach their independence absolutely there's no obvious crisis if there was a global crisis i'm sure they would like to be signing rule there to put the fire route to tumor during our best and we're working together but there's no obvious crisis going on right now so that they can look at them owed the local facts as they have become trying to address that policies purity for their own country yet but the there's benefiting consolidating this kind of tightening talk isn't there is eat you're you're trying to brush wave moral hazard cobwebs they've been growing with you know very cheap liquidity that's been slashing around to get china no depress asset bubbles eat it it actually avail doesn't it but angie i mean if you think about it why should the all be turning hawkish win the inflation is actually getting softer well that is the question right there yeah yeah this at this difficult one nzo's janet yellen as been trying to persuade people were whispers to look through this temporary forwarding inflation which doesn't the quote so tempered now because the us data's been underperforming for some time so maybe some more serious structural issue and central banks maybe need to tweak them ohga was me the old inflation just don't represent what is going on in the world today was the one that beats by the their own dram is obviously the pboc when it comes to monetary and fiscal policies and and all the rest amine it's looks like the pboc is getting more political ammunition and firepower when it comes to regulatory oversight peta change things yeah this seems to escape the skated a few people yesterday gesture but if you've ever to engage with the pboc in foreign exchange market you know they don't take any prisoners so if they're going to apply a similar kind of oversight to other markets than people but a get ready for some very tough legislation from the pediatrician is it a sign.
"pboc" Discussed on Bloomberg Radio New York
"I think the message from that meeting is very clear they want to crack down on the shadow banking because shuttle banking is an is not only support the girls but also increased that that the local governments in the state of the company said tests so i think the message from this meeting is very clear that in the second half are probably next few years the government will actually crackdown on shadow bank king of furniture lending by banks and also reduce the ball rolling by the insurance companies company and along let me jump in here and also pick up but in terms of what's going on with the pboc we've built a charged our clients could pull up on the bloomberg makiko j space hundred started btv space three seven six one to so what's happening with china m two money supply as a percentage of gdp the key draw here is the usually a story of state in that end to in terms of how the pboc moves forward from here how this defendant tightening way onto the decision making sure you know you can see that to after the fed rate hike four four four times the dc and the people's the also hiked interest rates two times in the first half of this year but of course this actually interesting hike care only reduce credit in the bank balance sheets but actually in china the most important girls pot is the allspanish she pot which actually isn't lending by the insurance company and also other security come trust companies so these are actually the driving force for china's credit squirrels so that's actually the message from the meeting is the pboc actually has been i have been softening on the the crackdown on the balance sheet lending you can see that even june the new credit data is pitting strong but actually the folks we'll be on the off finish landing which actually is growing far more faster than the bank lendings how do you expect the government to be going forward in terms of policies in terms of de leveraging uh in terms of trying to moderate some of the hinted actively domestically that's going gonna be a drag on economic growth that's going gonna be on making those numbers happening again next quarter that's why i think of the second half.