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tv   First Up With Angie Lau  Bloomberg  August 4, 2015 7:00pm-8:01pm EDT

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♪ shery: u.s. stocks decline as apple falls for the 10th time in 11 days. oil rebounds. japan fall the most since 2009. domestic consumption has fallen in 14 of the last 15 months. the downer for disney -- shares falling as quarterly sales miss estimates. blame paris and the weak euro. welcome to first up.
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coming to you live from bloomberg's asian headquarters in hong kong. checking in on markets in asia this morning -- to new zealand, we have the second quarter jobs numbers out with the unemployment rate coming in line with estimates at 5.9%. stocks currently rising 2/10 of 1%. .6536.olding at we are counting down to the openings of australia, japan and south korea. japan seeing downward trend . down 2/10 of a percent. futures now pointing to a slightly higher open. the dollar/yen at 124.35. we will stick with the markets with some relief for commodities and oil came back from a six-month low. that was not enough to lift equities in the u.s. su keenan been tracking the action on wall street. su: we definitely salw oil
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rebound. we also saw stocks slide and th at was as you had to focus on earnings which continues. results were negative. that stock got hit by about 10%. the real focus though has been on apple whose shares have been down since it reported earnings more than one week ago. it was the fifth day lower. what we saw in terms of apple trading was the volume explode to double what we would normally see. more than 120 million shares changed hands. one veteran traders said when people see stocks that is owned by everybody, they don't want to be the last one selling. shares down 14% since closing in a record in february. no real reason despite the initial concern that demand in china is declining and iphone sales are down. one major shareholder, david
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einhorn, is having a ton -- a tough month in july. in february, he held about $1 billion in the stock which makes up $.12 of his holy of -- 12% of his portfolio. >> the environment has been unbearable. while he could have done better in some spots, we don't expect to do well when investors shun value stocks in favor of momentum stocks. we've experienced this a few times before. the short-term results have been painful. we expect the environment will improve and we will recover. su: meanwhile, the earnings parade continues. almost three quarters of benchmark members reported this beatingf 44% profits. because you have so many companies reporting decent results, when you have one that reports not so decent result, they really get hit hard. shery: there was also some big
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earnings after the bell. let's start with etsy. su: very different results from etsy. etsy is the online marketplace for handcrafted goods. it is a fairly popular stock. it tumbled after reporting a slowdown in gross merchandise sales. 17% andk plunged some that is after dropping 6% in the regular session. grew nearly 24% but that compares to the growth rate of more than 28% in the first quarter. that stock is getting hit hard. different story for first solar. results beat expectations. they are recovering from the first loss in three years after a newly formed joint venture helped boost revenues over 65%. the ceo is shipping the company's business model from selling solar farms to utilities
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which is forming to rival sun power. again, very impressive results for first solar. back to you. keenan,hank you, su with the latest earnings. over in japan economics continues to delight. japan one hand, corporate is a start of asia's earning seasons as companies benefit from the prime minister's policy about optimism. it is reflected on a more personal, individual level. we are here with why japan is leaving some behind. what is happening? >> halfway into the earnings season, the company posting profits as they doubled. japan is outperforming its major peers in the region in terms of profitability. you have a weaker yen contributing.
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economics continues to give a boost to these companies. when china is in a pace of slowing down in such big market volatility, japanese markets capitalize. it is really a remarkable story here, how well these companies are doing in the face of a macro environment which on the surface does not seem to be doing so well. you are seeing technology companies, the sector doing the best, that industry group is outperforming their japanese peers. the earnings game, the profit gain is across the board, all 10 industry groups, the major industry groups in japan, have seen positive earnings surprises and that number outweighing negative ones. a strong quarter. shery: nice time for corporations. what about the individual? a lot of that is not really trickling down to them, is it? zeb: it is not. the wage growth is stagnating. japanese workers have seen the biggest drop in monthly earnings since 2009.
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that is due in part to changes for summer cash awards, bonuses this year. it also due to this larger and ongoing issue that japanese companies are not sharing in the love necessarily, they are not spreading out the additional profits to their workers. we know the government has been pushing japanese corporate very hard to filter through these wage increases and filter through the earnings growth so the ordinary person can earn more. that is important because it supports the overall recovery. domestic spending, consumer spending which has stagnated in japan. shery: spending is falling 2%. thank you, zeb. disney is falling in extended trading after missing third-quarter sales estimates. let's bring in bloomberg intelligence media analyst gita. expectations were fairly high, but we got some mixed reviews. where has disney fallen short?
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-- this report is a fairly strong quarter, but you were right, revenue did come in slightly lower than consensus estimates mainly due to negative foreign-exchange impact. i think the real fear for investors was when management basically cut its revenue guidance for the cable network and that was driven not just by for exchange, but also lower affiliate c revenue growth because of declining number of subscribers of its cable network. that said, disney is a diversified media company with multiple revenue streams. it has a very strong portfolio of very strong franchises. some minor hiccups but there should be no major cause for concern. shery: there has been talk about cord cutting, younger audiences
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not subscribing to traditional tv anymore. is this a challenge for disney? geetha: yes, this was a topic that was featured on today's earnings call. cord cutting is a growing phenomenon. when you have younger audiences, especially millenials, turning more to streaming, services like amazon, netflix. this really represents a trend for the entire tv ecosystem, for all of the major media companies, not just for disney. disney actually is in a little bit of an advantage here because it does have a very strong property in espn. espn is one of the biggest brands out there because of its live sports content. very high value content which is virtually dvr proof. it does command some of the leading -- some of the industry leading affiliate fee, about $6.5. shery: thank you so much for
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joining us, geetha. coming up next, stopping this selloff. will the rebounding of oil turn around the commodities around? we will have analysis when we return. ♪
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shery: checking some of the stories making headlines around the world -- calling on beijing to stop reclaiming land in the south china sea. foreign ministers expressed concern the work is escalating tensions in the area. china recently started expanding talks on the code of conduct of asean, offering behavior in the waterways. ministers say there is a gap between beijing's pledge and the situation on the ground. >> we agree it is imperative that this matter is handled withructively and explored the possibility of putting in place for vented it measures to
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ensure -- preventative measures on matters related to the south china sea does not escalate into a situation that may underminep p peace and stability. shery: thailand says its human trafficking operation is causing young women to go into the sex industry. they used social media to entice women and send them to china, malaysia and singapore. is blacklisted by the u.s. to failing to combat modern-day slavery. washington says abuses in the industry is persistent and largely ignored by the government. japan has announced temporary suspension of relocation work on the controversial u.s. airbase in okinawa. plans to remove them as prolonged issues between local residents. it was announced the head of a local meeting on friday.
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about 50,000 u.s. troops are based in japan under bilateral security treaty. -- one ofe markets the lead gainers in the u.s. was netflix. after rose a record high securities recommended the stock with a price target of $160. that is the most out of all analysts covering the company, more than 7%. chinese travel website surged by the most in a year. shares rallied after it offered to buy out u.s. shareholders and take the company private. up 20%. apple fell 3.2%, pushing further into a correction. shares are now 10% lower than february. as for the broader market, the s&p 500 lost 2/10 of 1%, slipping below its average price during the past 100 days. let's get more with mark, the
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chief investment strategist. he joins us live from pittsburgh. good morning. let's talk about earnings. disappointing a little bit overnight, but in general, they have been pretty positive. do they reflect fundamentals? mark: i think they do. they were expecting to be down about 4.5%. earnings is coming in north of 30% which is helped the year-over-year decline to about -1%. in light of the fact we had the strong dollar which is impacting multinational revenue and profit growth and slowing conditions, not just domestically but globally, i think that is factoring into a fundamental picture that is portrayed in terms of what we are getting in terms of q2 results. shery: you mentioned the strong dollar. is that a transitory factor, especially with low energy prices because the fed has been talking about this as if they
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were transitory factors. mark: i don't think the strong dollar is a transitory issue. we have seen it rallying since the summer of last year. by all accounts, the federal reserve seems eager to raise interest rates this fall, likely september. as a consequence of the path, the u.s. central bank is on against the most literal central banks around the world, particularly systematically important institutions like the european central bank and the bank of japan. i think it is likely to continue to strengthen and will not go away. that is something the federal reserve will be taking into consideration. shery: where did you see opportunities in the u.s. amid this environment? mark: we still think the u.s. economy is 30. sturdy. consumers actually are in pretty good shape. we think job growth has helped get consumer confidence which bodes more firsor spending. we like consumer discretionary stocks like the housing space.
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we like the consumer staple which benefits from oil prices. financials are performing very well as we see better domestic and commercial loan activity and recovery in the housing market. collectively, those are high conviction sectors in the u.s. shery: you mention oil. we are seeing it read out a little. commodities overall, are they overdue for an upside, rebound? mark: they probably are. i was looking at a chart this afternoon and by all accounts it looks like it is poised to rebound. pca countertrend rally in the context -- you see a countertrend rally in the context because of lingering concerns about china's economy and the pace of growth. it is coupled with the headwinds of the strong dollar. shery: mark, also in europe, we are seeing solid earnings. where do you see opportunities
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there? is it still time to invest? mark: i think it is still time to invest. we continue to advocate a position in european equities at large, particularly in germany, particularly in spain as well. in terms of sector, our favorite sector within the european complex are financials. european financials are trading below value which makes them very cheap when compared to the us-based brethren. we think the economic picture continues to brighten in europe. you do see critical expansion taking place since we passed the stress test that was conducted through the year last year. that bodes well for financials as well. we think that is the opportunity. shery: thank you for joining us, mark. --ore we go, breaking news southeast asia's biggest developer has just posted its results. second-quarter net profit came singapore4 million
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dollars. it opens in less than two hours. coming up next, we are off gem hunting in indonesia. join us after the break. ♪
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>> can one of asia's greatest a aheadstories of its competition as it enters middle-age? all this week onh bloomberg television. ♪ shery: alibaba has named a new president. former goldman sachs partner michael evans will take charge. his brief is to make alibaba a platform for commerce which connects 350 million chinese people from across the world. web purchases from chinese consumers amounted to more than $20 billion last year. build it and they will come. foxconn chairman borrowed from kevin costner to buy --
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infrastructure must be improved if the company wants to attract investment. foxconn may spend $2 billion over the next decade if india fixes its power, transport and supply issues. foxconn is a leading apple supplier looks open about 12 factories in india. it held talks about a possible tie up. greece says it aims to reach agreement with creditors in time to make it $3.5 billion payment to the ecb. the bill will be submitted to parliament by the end of next week. approving conditions on the loan from the european stability mechanism. the bill would follow on august 19, a day before the payment is due. the athens stock exchange saw some optimism after monday's 60% plunge. the market closed down 1% following calls for restrictions. meanssoon as possible
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that the conditions of the stock exchange will be such that all banks, all restrictions can be lifted. when this happens depends on -- shery: a slowdown in china is starting to affect some of the world's biggest carmakers with bmw debating how to adjust a weakening demand. china slowing economy and the recent stock market rout has put the brakes on car buying. juliette has been following this. juliette: what we heard from bmw and toyota is that they have to adjust to the normalization of the china market. this is a car market that took over the the u.s. as the world's biggest carmaker. recently, we have had the equity rout and a slowdown in the chinese economy. that means consumers will have
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to pull back on nonessential items like our spending. bmw sales down by a 10th of 1% in june. the car market dropping for the first time in more than two years. toyota has been doing a little better, outpacing the industry in china with it being up by 12% but they are seeing how the overall market will be. let's listen to what toyota had to say about it sales. market forthe commercial and passenger vehicles is shrinking in china. however, our sales for the first seven months of the year are up 112%. toyota sales in china have not been affected so much and we are not changing our sales target for the rest of the year. shery: japan opening in about half an hour. how are we expecting shares of carmakers to react? juliette: we saw a little bit of a pullback yesterday before the numbers came back.
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they were down by 1% on the close. it was down by 2.5% in new york. toyota is looking quite good in japan, it is up by about 8% year to date. particularly consider we saw toyota say it is doing better than other carmakers. a bit of a pullback in new york. shery: of course, we are not just talking about toyota and bmw suffering. who else? juliette: we are seeing ford say it is seeing a factory in china in 2009 and now it is struggling with delivering to the asian region. volkswagen has seen a pullback as well. it depends on what we are seeing which was a little unexpected in this discretionary market. shery: thank you.
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the luxury department store neiman marcus has filed for an ipo in new york. it plans to use the proceeds to repay debt. neiman marcus was bought by aris agogement only two years for about $6 billion. bankrupt the japanese carrier skymark without a clearer idea today. creditors will vote on whether the company should be backed by delta airlines. the winning proposal must be approved by creditors and lenders who own more than half of skymark. coming up next, imf says more work is needed with china's currency. we will have a special repo
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shery: it is 9:30 a.m. in sydney and you were looking a shot at the sydney opera house. a little bit cloudy. we are 30 minutes away from the opening of trading. on your tv, mobile and online, you are watching "first up." ♪ the top stories this hour -- changes the summer bonus in japan has resulted in wages seeing the biggest fall since 2009 in wages. excluding bonuses
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in overtime, rose for the fourth straight time. the prime minister wants people to earn more money to boost consumption. theme parks in hong kong and paris are not the happiest places on earth for disney after shortfalls triggered a mess of third-quarter sales estimates. it grew more than $13 billion. disney posted earnings of $1.45 a share, beating estimates. the results were driven by gains in its tv businesses and licensing. shares fell in after-hours trading. apples shares slide and it's taking its toll on the u.s. market. the stock fell for the 10th time in 11 days. it entered a correction after falling over 10% from its february high. apples fall caused the market to turn negative despite a rebound in oil.
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the shanghai composite opens in about two hours after its best day in more than three weeks. will the rally again be short-lived? let's bring in david. what should we expected a? david: nobody really knows. that being said, i have not been seeing anybody suggesting this is the start of a genuine rebound or rally. it was a good day. shanghai was up north of 3%. shenzhen was up substantially more. you look at what happened yesterday. there were no volumes. we were about 60% three-month average which perhaps suggest a few things. 18% listed companies still fell. investor fatigue. you also have the fact people who were able to get up during the chaos are still waiting around on the sideline at least for the dust to settle.
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have to market -- can it find its own bottom? that is a session yesterday. for today, three things -- you have two pieces of cmi data. the composite and the services cmi. let's see of the energy stocks react. cutting gasoline prices has affected it. the third one is selling services. just to get their operations up and running in line with the new rules in place. shery: away from china but still talking about china. this trend of taking chinese companies and listing them private. david: elong was the big one. i'm not getting the details of what was offered. it is one of the bigger ones after this. there was a pause of these
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existing shareholders offering to take those chinese companies to the u.s. private. there was one in june for obvious reasons. there has been a pickup. at this point, we are on track for the highest number of going private offers if you go all the way back to 2012. -- 2014 wasde the very quiet. 2013, 2012, you have the issue of the short-sellers accusing the chinese companies of so and so. we are halfway through the year and when you look at valuations, still much higher in china. the median is north of 60. the nasdaq is at 30. the rivals are getting better valuations there. that is a trend that is expected to continue. shery: we have to talk about the yuan. china has been trying to get --
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what are we hearing? the imf saying they may postpone it. david: all they are saying is there is a lot more work than the to be done. when you look at the yen, they are saying you have to look at different metrics, one of which is how widely is it used? you consider trade with hong kong as international, even macau. it is politics, but that is part of the consideration. what they are saying is there is a proposal on the table to push that back nine months into 2016. that decision to postpone will be determined at the end of this month. that is all there is. i don't want to over complicate the story. i'm forgetting to say something -- let me look at my notes quickly. yeah, reforms aside, they are saying we know what the endgame will be. the short of it is the yuan has been adopted fairly widely.
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that is expected to continue. shery: you did a good job trying to protect what will happen -- predict what will happen. david: i will be wrong. shery: time for a look at the top corporate stories. here is ann. ann: the world's biggest old producer by market value is shopping again, adding to the billion dollars worth of deals. it has bought stakes in operations from poplin new guinea -- papua new guinea to the congo in the last year. zijin must look abroad for big deals. china is already the biggest gold consumer in the world and demand is rising. shares in mgm resorts rose the most since march. they reported second-quarter earnings of 19 and a share, beating estimates. gains in las vegas helped tem per down macau but sales were
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down to $2.4 billion. india's largest mobile phone carrier beat estimates rising to 443 million dollars. they sold towers in africa. it is racing to beat rivals by rolling out services in india to take advantage of demand. that is a look at the top corporate stories. shery: after three years of talks, vietnam and the eu have agreed to a deal that would scrap tariffs on annual commerce. let's bring in our correspondent . how significant is this? haslinda: it is significant for several reasons. the deal is quite comprehensive in the words of the eu, it sets a new model for trade policy in developing countries. here is what it entails --
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almost all carriers of goods will be removed. vietnam what do that over 10 years. the eu over seven years. we are talking about it being worth over $30 billion a year. the amount is the eu's -- vietnam is the eu's fifth biggest trade partner. they are getting things like electronics. textiles, coffee -- this deal is also significant because the anbiparting it as organization to establish free trade. a negotiation has stalled since 2007. the eu is striking deals on a bilateral basis. three years ago it happened in singapore. shery: what about the eu and the wto? haslinda: it is also bypassing
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wto. it is doing exactly that -- the wto is being sidestepped to open markets with countries. negotiations remain deadlocked with talks about that. the international trading system is slumping -- trying to provide new trade rules. deals has pursued trade on its own with countries like the u.s., japan, india. 's office to say, global 2 -- say, global deals have been met. we heard about tpp, also transpacific atlantic trade -- all of that is being negotiated. negotiations started five years ago and it is still ongoing. it is a different trade environment today. it is complicated. shery. shery: thanks a lot. haslinda, our southeast asia correspondent. staying in the region, one of indonesia's traditional
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industries is experiencing a revival thanks the surging demand for its price -- gem. we look at the booming trade. >> among the rice paddies of west java, an army of miners search day and night for gems. locals of known about the stones and thanks to their exquisite quality and exceptional prices, the wider world is fighting out -- finding out. >> the quality of our gemstones are unmatched. they often show a mixture of hues. some gemstones could have five colors, maybe more. reporter: demand is soaring with collectors from japan, taiwan and south korea among the leading customers. gemstone dealers are seeing a spike in prices. it is catching $100 per grand and a top-quality ring is over $30,000 or more. >> i think we need to apply international standards to her gemstones. this will make it easier to promote them and provide people
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with their estimated values. at the time being, prices of gemstones are all over the place. reporter: there is a growing campaign for tighter regulations. they want tougher standards on gem quality. workers rights groups say miners must improve safety. either way, there is a sense of growing confidence among jim rogers were finally -- gem hunters who are finally beginning to reap the rewards of the records. shery: coming up next, from india to indonesia, is a big week for decisions in asia. se will get more from ubs' economist for the region when we return. ♪
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shery: checking other stories making headlines -- qatar says it is time for a serious dialogue between arab states and iran following the nuclear agreement. the sunni nations have accepted the deal despite shia iran.
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qatar's foreign minister says tensions can be solved by talking between the major players. myanmar iss in moving into more populated areas. towns in the delta have been swamped this week as waters received from northern states hit by weeks of torrential rain. concern remains high in the west where more than 130,000 people were displaced. the u.n. says losses of grain and livestock could endanger long-term -- long-term food supply. the president of the international olympic committee down concerns about pollution in rio de janeiro one year before the opening ceremony for the 2016 games. he has no special worries and full confidence in the organizers. the world governing body for sailing in rowing say they want
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virus testing carried out after reports comparing water quality of some olympic venues with raw sewage. rates unchanged in line with productions. the minister said inflation predictions in june relied on the upside and said he is not worried on a fed rate hike in will push ahead with reforms, including cleaning up the bond market. the biggest rally since june. later today, we are expecting a rate decision from thailand. a bloomberg survey says the central bank will keep things on hold after surprising investors with cuts in march. rism, picking up in tou upsetting weaker exports. let's break down those rate decisions and bring in the india economist at ubs. he joins us from singapore.
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let's get started with india first. keeping rates steady. they resist the pressure from the government. do you think this was the right call to keep rates on hold and also where do you see inflation going this year? guest: yeah, we think it will stay. it made sense. the central bank has cut rates three times this year. we think there are more rates cuts to come this year. it will happen by the end of the march quarter 2016 but it made sense to break set to pause, especially given the uncertainties surrounding the monsoon and other developments. yeah, i think that move makes sense. shery: there seems to be a turf war between the finance ministry and the central bank with this bill that gives government
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majority control of monetary policy committee. what impact would this have and where do you see this going? edward: i think it is certainly a news story. that is something the press want to put into the papers. rajim wentthat mr. out of his way to play that down. there is a very real difference between what the government is legally able to tell the central bank to do and what in fact the practice of the central bank independence is in india. it is fair to say that india's central-bank has a fair degree of practical independence, even if there's that government pressure in the background. shery: another rate decision today -- thailand. we are seeing some decline in consumer prices as well as exports. does that give room for central bank to cut? why are we expecting it to hold steady? edward: actually, we are not
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expecting it to hold steady. ubs thinks you could get another 25 basis points cuts for the reasons you just suggested. inflation is nonexistent. the cpi headline was negative. exports are weak. gdp growth is on a sequential basis, quarter on quarter, seems to be pretty weak in the second quarter as well. i don't think the central bank is going to be terribly worried about the currency weakness because in april, the central bank tried to give the currency in bit of a push downwards. so, i think there is a possibility the bank of thailand could surprise the market yet again today with another rate cut. shery: ubs is going against the trend most economists are expecting. do you think the lower rates will hurt the banks margins and
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also how crucial is infrastructure spending for the thai economy? in greatell, i'm not position to talk about bank margins, but certainly lower interest rates will have another of -- a number of routes into the economy, including the currency, the bank balance sheets and the impact on people's decisions to borrow. overall, i think another 25 basis point cut will be a positive for the thai economy. and other thing that should be a positive is the infrastructure spending. we think that is pretty important. thailand does have spare funds to go and invest. it needs a catalyst for that money to be put into work. the infrastructure spending does promise to be that sort of catalyst. we are pretty hopeful given the government's focus and also given interest by china in infrastructure in china.
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shery: just briefly, i want to touch on indonesia, because we have those gdp growth figures coming out and we are seeing that with inflation above 7%, there is no real room for the central bank to assimilate into the economy but growth is expected to come in below 5%. where can indonesia find room to grow? edward: it is pretty tough for the moment. inflation probably is not the big problem here. inflation has been pushed up by what we call base effects, the impact of fuel price hikes earlier in the year. though should drop out over the year end. what matters at the moment is the deficit and the potential pressure on the currency if the central bank were to cut interest rates now. the good news is the currency count is narrowing and that could give room for the central bank to cut policy rates at the end of the year. the central bank has already been demonstrating its willingness or desire to ease policy by reducing macro --
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scaling back the micro -- macro credential filings over the next few years. it just needs the window or right macro economic conditions to do so to cut interest rates. we think that could come at the end of the year for indonesia. shery: edward, thanks a lot for your time. edward of ubs. mp in nearly a full juim profits, we will look at the shares of one chinese semi conductor maker when we return. ♪
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shery: welcome to the stock exchange. we are looking ahead to the open in australia, japan and south korea. to tellrters are here
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us what stocks they are keeping an eye on. just a few of you here today. >> guess which industry i chose? shery: airlines. . zeb: i believe david chose this a week ago. i believe it did well. all nippon airways. it is up 33% year to date. two big news items -- the airbus which was entangled with skymark on this failed purchase plan has approved ana's investment in skymark. they have decided to take a stake in skymark which involves paying off some of its airbus obligations. shery: well. how about you, juliette? juliette: a semiconductor circuit maker based in japan. -- it did quite
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well in the last 18 months. its first-quarter net profit rose 71%. zeb: wow. shery: thank you so much. that is the verdict from the stock exchange. this is based on news events. we will be back in one hour to see how the three stocks have done. back to the future -- fans are in for a treat with lexus showing off its first fully functional hoverboards. if you are hoping to buy one, you are in for a long wait. >> move over marty mcfly. this is demonstrating the real-life working cover board developed by lexus and a german engineering company. the board features similar technology to the kind used to power magnet trains. magnet in the skateboard act as
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superconductors inside the board keeping the writer in the air -- rider in the air. >> you see the board going across water and then standing there. it looks like a magic act. people will call lexus and seldom to build one. >> this is the culmination of 18 months of work, but do not expect to see it in a store near you anytime soon. lexus has no plans for commercial development. >> i hope when they see it that i think it is so cool and i want to ride one. i hope they look at lexus and say they understand something different about lexus. they understand we really do like design, innovation and to show people some things may have never thought possible. i >> >> it is interesting to see a carmaker dabble in tech. david ingles, bloomberg, hong kong. shery: that is so cool. i'm definitely getting that. in the next hour, hits and
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misses. disney earnings -- we will be live in l.a. with the details. we are counting down to the opening in australia, japan and south korea.
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john: with all due respect to chris christie, tmi, dude. chris christie: i am a catholic and i have used birth control. not just the rhythm method, ok? mark: in our lineup tonight, donald trump, the event without donald trump, and then donald trump again in an interview later on in the show. the big event with donald trump front and center, fox news's debate. turns out the criteria to

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