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Bloomberg
Nov 16, 2016 11:00pm EST
half of next year. the latest data show china is holding, at the lowest level in four years in september as beijing ran to support the yuan. philippine shares jumped after gdp growth, 7% last quarter. it underscore the nation's resilience to global risks. he is planning a $160 billion infrastructure program. we can expect philippine gdp to expand police 6% over the next two years, among the fastest growing in the world. twoending the contract of senior executives in guinea. they are leaving. sayingued a statement, it is not prejudge any external investigation of the project. they said the pair failed to maintain code of conduct standards. global news 24 hours a day powered by more than 1 -- more than 2600 journalists and analysts in more than 26 countries. opec nations and russia meet in qatar today, but iraq will not be there. there on a final campaign to meet in vienna on november 30. manus cranny is there. is this meeting going to be more about who is not there? it could well be. when we say they are not trading we have to be careful. iran and iraq are not sending their mini
Bloomberg
Jul 7, 2016 12:00am EDT
the time for australia to move within its means. apple is feeling the heat in china, falling to number five in the smartphone league in the face of local rivals. and the $10 billion deal is closing in on u.s. health would maker whiteway. ina: i'm anna edwards london, where it is bright and early. markets." "bloomberg what are we looking at today? >> those havens are working in tandem. we were just taking a look at the bloomberg sovereign bonds and with all of this global market activity, especially after brexit, investors are fleeing to sovereign bonds and to gold. and check out the state of the yen right now. 1.98 per dollar today, another indication of brexit fallout worries, anna. anna: we have the dollar-yen at 1.98 by .8%., up the hang seng, up by .8%. moves in currency markets, as we have been flagging. quite a few markets are closed around the region. no trading in indonesia or malaysia, or much of the gulf. they are closed, celebrating the end of from it on. let's check in on the first word headlines now. aslinda: samsung shares are higher after its preliminary profit nu
Bloomberg
Oct 17, 2016 12:00am EDT
their what they are saying is that it might be a crackdown and that it perhaps reflects that china and macau don't want to see these revenues going to foreign investments. angie: thank you. later in the show, more telecom names sign of war 4g in egypt. the latest reaction from cairo. yousef: plus, the latest on inc. mergers in the middle east, including plans to create the regions biggest merger. this is bloomberg. ♪ ♪ welcome back, you're watching bloomberg. angie: a quick check for you right now, the latest business flash headlines. china construction bank agrees million framework deal to cut their debt ratio. this is the second debt relief program they have revealed in the past week from state owned enterprises. china released guidelines for reducing corporate debt. gold producer evolution says they will buy a mine. $7.6 million but the still -- the deal still needs regulatory approval. its finalwill set price for its upcoming ipo today, about $23 per share. that would be at the top of the range. the company will debut in tokyo on the 25th. they are seeking to raise $4 billi
Bloomberg
Jan 22, 2017 11:00pm EST
in china, the shanghai composite up .3%, flat on the hang seng, australia weaker by .8%. some of the big market movers in the region today, toshiba rising almost 9% on a report that its chip business is drawing interest. , but risinglat after a consortium move to buy part of ping an. look at this big fall in 17%, the ceon saying he is embarrassed over the profit downgrade as he leads the company after seven years at the home. the japanese yen of course stronger today, 113.63. so much.ank you samsung electronics has confirmed faulty batteries cause of some of its galaxy note 7 models to burst into flames. rosalind chin as following this for a spirit samsung is blaming it on an affiliate. rosalind: that's right. the batteries were long suspected to be the issue with these note 7 phones, overheating and catching on fire. there has been a lengthy investigation, samsung saying irregular size batteries caused overheating and fires. were made by a samsung affiliate, samsung sdi. electrodes in those batteries came into contact with one another. they found defects in design and manufacturing
Bloomberg
Mar 8, 2017 11:00pm EST
china with the rise the fastest. is the outlook for the global equation. sethe biggest investors are to increase in their a billion dollar increase. >> the fallout from the missile-defense system, china threatens to court hurt corporate korea. >> welcome to bloomberg markets: middle east. shery ahn joins us. yes out of a very windy and chilly day. out of are seeing is south korean headlines. that is the reason i am here. we have a thing called the trial of the century. into court today. we also have the impeachment motion decision for the constitutional courts coming in tomorrow. north korean tensions are all around. that is being tested this week. take a look at the korea won that is taking a hit because of everything that is happening. we are seeing this losing. have moreling that pressure. the japanese yen is also weakening, we are also seeing the decline. the is still giving this topic boost. all of this happening across asia. it has been a big few hours before crude oil. it is up five .6%. we got that data rum the eia. for show a another record their inventory. 11 out of 12
Bloomberg
Mar 15, 2017 12:00am EDT
kong dollars. smallest -- the first loss since 2008. we are seeing competition from china, not to mention higher costs and that has been eating into its earnings. estimates of a profit. analyst recommendations have been bad. there are no bias whatsoever. buys whatsoever. year to date, it has risen in double digits, more than 10%. in hong kong, the stock is up. we will see how they react given that it is now and that loss of 575 million hong kong dollars. pretty bad results given the estimate. we will beracy: digging into those results later in the show. first, let's turn to markets. there is a lot to digest today. we had a fed decision coming up. we had the dutch election. vendor -- then there is oil. crude went on a wild ride. a reporter joins us now out of singapore. you were looking at the technicals of tuesday's move. what did you see? reporter: it was interesting. although oil was extremely ,olatile and it looked bearish it is pretty much hovering around the 200 day moving average. it did a similar thing in august and november of last year. it bounced from there. we sell repo
Bloomberg
Feb 13, 2017 11:00pm EST
continue. a two-month share decline has you were a $7 billion in market value. 6.9% inn china grew january, i had of economist thinking, but gains may slow in the coming months. rising,go, comparisons also beating the average estimate, some 2.5% in january. south korea's special prosecutor's office will decide soon whether to seek an arrest warrant for jay y. lee. he was questioned for 15 hours on monday over allegations, including bribery. two other samsung executives are facing questioning. samsung shares down 1.4%. president trump promised a tough response to north korea's latest ballistic missile tests during a press conference with justin trudeau, bowing to prevent pyongyang with the ability to strike the united states. has yet toion announce a detailed north korea problem. >> we have a lot of problems that people have no idea how bad they are, how serious they are, not only internationally, but right here. obviously north korea is a big, big problem, and we will deal with that very strongly. rishaad: global news 24 hours a day. we have our 2600 journalists. we have the world of busin
Bloomberg
Nov 27, 2016 11:00pm EST
you. on the phone from vienna. china has been quietly hiking borrowing costs through pboc operations that reinforces the view that beijing has moved away from monetary stimulus. we have our corporate finance reporter right here. how has the pboc been doing this? is lengthening the terms of the money market operations, cutting the seven-day reverse repo operations and injecting funds through 14 day and 28 day contracts. financingnger-term with higher funding costs. that is how the pboc effectively tight 25 basis points. angie: why would policymakers tighten now, especially when some say we are seeing stabilization when it comes to data of a but it is still precarious. to cut is intended average in china's financial markets, especially the bond markets. as we have been talking about this for the past half year or so, there is a huge buildup of leverage in china's bond market because the yields have been coming down significantly. fund managers have no other options been to use leverage. for the central bank to discourage the use of leverage by increasing the funding costs. manus: inter
Bloomberg
Apr 13, 2017 12:00am EDT
♪ anchor: syria sends it u.s.-russia relations to a dangerous new low. course.ngton changes china is not a minute later of the dollar. quest saudi arabia raises $9 turkey for it anchor: counts down to the order want referendum. dude.llo to the >> 5 a.m. in london. the latest in dubai. here in hong kong, a look right now, very quickly. of, equities are offered the dollar on the back foot. very green. the other big story is yields going back. japanese 10 year minus two. right at the zero level where that onceth him and it to be. >> flossing in terms of those assets. crude isn't in focus -- crude is in focus. the highest level in almost a year. also in terms of what is happening with gold, that has been extending the highest level in some month. if you look at what is happening with south africa, saw some gains of 2%. very interesting play and cover under pressure. the metals complex, three-month low on wednesday. uncertainty on where the donald trump will affect supply. this was a state of play with the benchmark. a strong start in the earnings season. stocks, energy doing well. for
Bloomberg
Mar 1, 2017 11:00pm EST
gaining, steel gaining after china's said to curb said to curb outps to improve air quality during the national people's conference. [please stand by] we have seen some remarkable moves in the u.s. treasury, but in terms of the moves in the dow, how fast the data happen? five weeks. the fastest turnaround. we have this chart on the bloomberg. it adds additional perspective. there is your key gauge your d.c. outbreaks 90,000 or 20,000 in a matter of just five weeks up to 21,000. the second fastest interestingly enough is also on the charge, because it was the nine weeks it took to get through 20,000. generically five. a few hours away from the opening of the emirates market. abu dhabi local time, we will see liquidity in these entities, especially in dubai, the index barely above the flat line. we are seeing saudi arabia under pressure with energy stocks, but the bright spot was consumer staples. qatari stocks rebounded. interesting with the turkish stocks, up 2% on the benchmark, strong gains in financials. societe generale put out a note saying they were trying to increase exposure to
Bloomberg
Jul 12, 2016 12:00am EDT
will visit the queen on wednesday to resign. tensions over the south china up after aampant tribunal gives its ruling on the dispute. they are expected to rule in favor of the philippines which is challenging beijing's claim to more than 80% of the south china sea. china has already ignored the results. global news 24 hours a day powered by journalists and analysts in more than 120 countries. oil trading near a two-month low after iran and libya flagged export increases. crude at the moment trading at $44. let's get more perspective. here is our middle east markets reporter, anthony. let's talk about iran. how much progress are they making in bringing back oil production? anthony: we spoke to one of their officials last week. he was saying they are coming back, bringing fields back online and getting back to selling to customers that they could not sell to when sanctions were on the country. they were lifted in january. since then, they have gotten back to 80% of the level where they were before sanctions, according to this official. production is now about 3.8 million barrels a day
Bloomberg
Nov 12, 2016 11:00pm EST
the impact of growth,mics on trade, and china. we will discuss that. this is bloomberg. ♪ tracy: welcome back. you are watching bloomberg markets middle east. live from dubai, i am tracy alloway. manus: i manus cranny. joining us, nasser saidi. thee trying to understand market impact of trump exceeding the power in january. he has talked a great game in terms of what he wants to do for oil independence. what did that mean from your perspective? i think that is the key thing to expect from a trump. oil,ll give more to shale, and gas, probably go for more independence, which means he will add supply, so the prospects for oil, i think, will be bearish. we have the subsidies, the introduction of taxation. tracy: let's talk about the dollar. it has declined as results were coming in. it has rebounded. what does a stronger dollar mean for economies in the middle east which have a pegged currency? nasser: the problem is the impact on the non-oil economy. tourism, services, other things you are trying to develop are less competitive than they are. we have already seen that over the last
Bloomberg
Jun 21, 2016 12:00am EDT
economy. new zealand has completed the toe of most of its stake china. virgin australia had asked shareholders for $69 in fresh capital. $69 million in fresh capital. tesla is said to have chosen shanghai as its production base in china. sources say they signed a 9 billion dollar deal. manufacturing in china would allow tesla to avoid a levy on imported cars. jd.com has struggled with a slowing economy and the shift to online shopping. the two will link their supply chains. powered by 2400 journalists in 120 countries around the world, this is bloomberg news. manus: thank you very much. there has not been a big financial merger in the uae since 2007. week, bloomberg broke the news that national bank of abu dhabi and first gulf were in talks to create the middle east's biggest bank. we are joined by the cfo of bad.ates n an andow the ceo of advisory firm and joins us from singapore. what is going to be the biggest issue in putting these beasts together? what are your thoughts in terms of the biggest issue? this is a welcome move for the market, in the region, as well as the country
Bloomberg
Feb 12, 2017 11:00pm EST
tensions with china and japan? >> that is correct. the whole trip was about just .rying to firm up this alliance coming into trump's presidency, he has been critical of japan, mentioning them for currency manipulation, saying it was unfair what they were doing with automobile trade and pulling out of the tpp, which was backed by abe and took a long time for him to negotiate, so this meeting in the sea, coming together to condemn a north korea missile test, these help to bring these two countries together and reaffirm that alliance to other countries in the region as well. yousef: we will leave it there. thank you for joining us. a preview of what is to come on the show, we take a look at how emerging markets could be some of donald trump's policies. the chieft, we ask economist for asia deutsche bank about the top risks for the regional economy. this is bloomberg. ♪ yousef: welcome back to "bloomberg markets: middle east" live on bloomberg tv and radio. inmur baii am yousef gamal el-n dubai. i am shery ahn and hong kong. virtually all of the markets in the green. let's get the details
Bloomberg
Feb 14, 2017 11:00pm EST
are seeing it breach the 24,000 level, up 1.3%. the bowls returning to china. bulls returning to china. banks counting for seven of 10 of the biggest movers here. that is a boon for bank construction, bank of china. aquick note, we did have central bank continue to reverse , alsowith 1.900 billion injected funds by mls, the first time since january 24. climb.seeing the regret elsewhere we seem to have posting a drop in third-quarter income profit. it tumbled 97%. narrowed andns costs were seem to surge. seeing sun pharma following suit, following after it's third profit missed estimates, shares dropping for a seventh day. india's largest drugmaker am it is facing steeper competition in the united states where it derives half of its revenue. take a look elsewhere in the region. we have had a day of swings, up a third of a percent. 7/10 of a percent. some interesting moves by apple suppliers given the news headlines around that eagle system. thank you so much for that. a fed chair janet yellen sounded confident about the u.s. economy on the first day of her testimony to congress. s
Bloomberg
Aug 28, 2016 12:00am EDT
. agricultural bank of china has posted second-quarter profit gain of just half of 1%. rose to $7.6 billion, beating estimates of $6.7 billion. the bank announced it will sell as much as dollars in tier two securities over the next three years. day,l news 24 hours a powered by more than 2600 journalists and analysts in more than 120 countries. this is "bloomberg." a september rate hike by the federal reserve could be back on the table after janet yellen says she considers the case it has strengthened. mike mckee reports from jackson hole. wall street got some of what it wanted from this conference. while she did not put a timetable on it, janet yellen says economic conditions have improved enough that the case for an increased funds rate has strengthened. that led to investors to dramatically increase the odds of a rate move in september, or definitely by december. other fed officials back that view. and aare being patient bit cautious, because remember, demand is weak around the world. other central banks are cutting rates. we are below our inflation target, and growth was 1.25% in the fir
Bloomberg
Aug 15, 2017 12:00am EDT
markets. china has been on for 30 minutes. we have a few things to mention today, fairly busy. at some point in the afternoon, we might get the new credit data out of china, industrial production due out of japan. it comes out of your part of the world. have a look at markets right now as we continue to see recovery across the broader market. i think the difference between what we saw yesterday and today with japan is now very much in the mix, very much on the shoulders of the regional benchmark. up,night wall street was certainly an extension of what we are seeing across the asia-pacific. the other thing i want to mention is when you look at the currency market, dollar-yen you thereally tells whole picture that there is not a lot of appetite for safeties and -- for safe havens. the aussie dollar is down the corridor as is the kiwi daughter. move, theook at the weaker dollar might not be helping. -- itis a big story really tells you what has been happening, people loading up ahead of the speculative -- the speculation that we might see capacity get taken out of the system and i believe
Bloomberg
Mar 27, 2017 12:00am EDT
china. the dollar is going the other way, putting pressure on middle eastern markets come as well. there will ben struggle. is putting short sell in the mix. it is 7:00 a.m., bright and early. it is 12:00 noon in hong kong. we look at markets this monday. we have seen better start to the week. have a look at my bloomberg. obviously japan is getting hit the most. we just talked about the yen pushing toward 110. you're getting a lot of equity indices getting offered up. 1.4%. the losses seem to be getting better if you could describe them that way. have a look at the currency that is the market story today. dollars off substantially. randy was up. up.ingo is there also getting a selloff of commodity space over in china. the only one up over the 1256.ity space, 1% up at let me wrap things up at a look at the bloomberg dollar index. 200 on the below dollar index. does this give us a preview of things to come when it comes to the lawson momentum -- loss in the momentum? that is one element of the story in terms of reversal of gains. the other reversal we have seen in the oil markets. w
Bloomberg
Dec 3, 2016 11:00pm EST
phone call. what is china upset about here? taiwan isactually, one of china for core interests because it sees taiwan as a province of china. that is because of the civil war that happened basically at the end of the second world war that was never really resolved. china always raises the , if youth the u.s. don't interfere with our internal matters, and this time, donald trump local long-standing protocol of not having the top taiwan of the u.s. and directly address each other. obviously there is a lot of contacts behind the scenes through intermediaries, but this time it was leader, or president-elect to president contact and that breaks several decades of tradition. it might break protocol, but at the end of the day, donald trump has been on the phone with quite a few heads of state around the world. do we know anything more about what these two talked about? the presidential office releases statement. both sides said it was a congratulatory phone call on his the tree in the united states thetion -- his victory in united states election. the other issues that came up were the import
Bloomberg
Oct 12, 2016 12:00am EDT
our statements signed in china and the joint expert working group that is studying the current situation. we will discuss cooperation in the energy sphere. the realization of particular energy projects. we will continue consultation in the framework of the world energy congress. the work of the forum is going on. bringil we are able to the market to some form of stocke by accumulating a grow down that will bring it to acceptable levels, we will not be able to achieve the fair price that will be fair to both producers and consumers. yousef: here is the critical question for oil markets. how realistic is it that we will see an agreement within opec, even though we are hearing rumblings from iran and iraq, and how likely are we to see russia join opec after that given the track record they have had in the last two years when it comes to living up to those pledges? ann-louise: it is a good question. since november 2014, opec has abandoned any role in the market. it has just been seeking market share. now there has been a backing off from that. they are trying to reach an agreement.
Bloomberg
Sep 5, 2016 12:00am EDT
level so that is an indication that pc better demand. we saw the oil minister in china saying they are not concerned about demand. increase toprice asia as well as the u.s. from indicates that fundamentally they do see some better demand from some of those refineries in asia and better profit from those refineries. thank you so much for that. the leaders of china and japan are geared to hold face-to-face talks later on the silence of the g-20 and hangzhou. it really comes at a time that if increased tension over disputes in the south china sea. the latest headline north korea season.hat the eastern let's go to hangzhou right now. what are we expecting from the talks? that action by north korea now going to be any helpful here at the g-20 summit where already we are seeing growing diplomatic tensions between the two countries also with china japan and south korea so from the summit here in chinaou between japan and we are expecting some talks there a sources say the president xi jinping and shinzo abe will have a formal sitdown. this comes at a time when there has been a lot of tension
Bloomberg
Mar 16, 2017 12:00am EDT
given the -- is given the red carpet treatment in china. the latest from beijing. in the emirates. i am tracy alloway in dubai. >> i in shery ahn in hong kong where it has just gone midday. the boards here have been a hike from the fed. it is affecting markets across the board here in asia. we are seeing equity markets rallying to -- to the highest level since 2015. the japanese market saw that downward market. the south korean won is losing a asian currency. optimism the funds will keep flowing into the region after that hike from the fed. take a look at the offshore renminbis. it is shrink fitting 3/10 of 1%. when it comes to the onshore, they strengthen it by .37%, the most since january 18. all about sovereign bonds data this morning. australia's unemployment rate on gaining rounds as well. tracy: you mentioned the end gaining. the u.s. dollar doing something on in reaction to the fed decision, it is weakening. it is still weaker today. that is feeding into commodities. take a look at how oil and gold is reacting. gold is the big mover. it was up, it had its biggest in vance -
Bloomberg
Mar 26, 2017 12:00am EDT
at this year be a form inrum -- boao china. most businessed meetings since the election with china amongst those promoting trade links. the recent visit to beijing saw millions of dollars of deals agreed. saudi companies must build on that. >> this visit by king solomon to beijing -- salmon -- king salman will help strengthen the relationship between both nations. we need to take advantage of that, extended to expand our -- our existing business. we have had a network of marketing and a resurgent technology. with our joint ventures. now it is best we have extended our agreement. strategic agreement with sinopec where we will have three major project. this is a very important visit. we would like to leverage it. free trade is going to be a important topic that we need to leverage on to having all business leaders, some regulators. they need to hear our voice that free trade is good for the market. still want to go ahead with a potential investment in shale gas in the united states. will trump deter you at all? >> i don't think so. we look first of all at north america's strategic pl
Bloomberg
Jun 12, 2016 12:00am EDT
%. the imf is urging china to tackle ballooning corporate debt . david lipton said the project is growing your blueprint intelligence estimates that china has accumulated debt faster than any other g-20 nation over the past decade. lunch with warren buffett is worth a record equaling $3.46 million to want anonymous better. the winning bidder was almost 50% higher than last year, up to seven guests will it dine with him in new york pretty has raised more than $20 million through these lunches since 2000 to help the homeless in san francisco. powered by over 2400 journalists, this is bloomberg news. manus: thank you very much. next month, he will be one year since the deal between tehran and five permanent members of the yuan security council. joining me now to talk about the implications is a partner in charge of jones day dubai. thank you for coming in. i can remember back to the hoopla over this getting done. have we really moved significantly forward in the space of one year? guest: from a legal perspective it is a very interesting thing. they way i like to analogize it is, one year ago
Bloomberg
Oct 31, 2016 12:00am EDT
way down. it is a big week for central banks. pmi out of china as well. currencies, i would describe it equally confusing, if you will. on friday, it was an almost uniform drop in the u.s. dollar against its peers. right now we are seeing that come back. the yen is a little bit weaker. 104.81 is your level. aussie dollar on the front foot. little less good system when it comes to the currency markets. let me switch back into the equity markets. the big story in asia, two things. looking at this big drop in shares of aia. really coming down on the back of debt it and credit cards banning them to buy insurance products. that is weighing on the stock. the big news out of japan is the marriage, in principle, of the country largest shipping companies. shares are on the way up. much more earlier on. we will talk more about details of this marriage of unequal's later on. ingles, thanks for that. shares in japan's three biggest company surge on news they are merging their container liner business. that should be the three largest shipping companies, i could say. rosalind chin is covering the
Bloomberg
Jul 11, 2016 12:00am EDT
rally. buying coming across the board in hong kong. chinese stocks listed on the hang seng-china enterprises index. energy stocks also getting a very solid boost. that is despite the fact that we are seeing an easing in the crude oil prices. we have started to see drilling resume across a number of oil rigs in the u.s. the australian market up by 1.7%. we see the coalition government remaining in power. 1.7%.x 200 up by all of this reaction to the solid rise we had coming through on global markets friday on the back of the better-than-expected u.s. jobs report. every sector on the regional index is higher. it is up by 2.5%. -- it has now almost tripled the losses it had over the course of last week. so a 2.5% rise, not bad for a monday. having a look at this oil price, which is not playing into markets in terms of equities, we are seeing oil up by about .8%. it is just back above the $45 handle. angie: thank you. still with us from our london offices, the chief executive officer for intermarket strategy. the busiest man in the u.k., no doubt, is mark carney. he is managing his th
Bloomberg
Dec 5, 2016 11:00pm EST
in china, the world's biggest commodity user, and china said it is going to spend billions on infrastructure, speculating that there will be demand increased. oil had the highest and 60 months yesterday, down a bit today, but it shot up after that shock opec decision last week with other producers outside the group joining in the production cuts. yousef: we will leave it there. our asia commodities managing editor in singapore. let's cross over and stay with this story -- ecb holds its last fall as a decision of the year on thursday with the italian referendum sure to be on the agenda. next week we are looking ahead with the rates rise with some meat on the bones in these big events. crystal rule is the chief economist at the abu dhabi investment authority -- great to have you. with the italian referendum out of the way, we talked about the volatility -- your topline thoughts on this rise of populism and has taken over the u.s. and is now still very strong in europe? usi think it will be with for a while and what concerns me is the economic consequences. it's interesting what
Bloomberg
Mar 14, 2017 12:00am EDT
independence. china factor activity remains strong. a potential partnership and led to attract japanese companies into the kingdom. welcome to "bloomberg markets. david: china closer now. have a look at this chart. talk has been reflation trice -- reflect-- reflation priced in. your candidates to bring the u.s. yields, the top panel of the s&p 500. japan, thel is second most obvious candidate because of the implications of higher yield and dollar-10. -- guest: dollar-yen it does not necessarily benefit global equities equally. yet the thing i want to point out before is that the relation has started to come down for the u.s. and japan. it is starting to come back in. >> investors have been waiting for correlation to start coming down. that stick a look at what is happening in the middle east where it is two hours away from the opening of the emirates market in dubai and other debbie. -- other debbie. -- 1.22%.oint sent dubai closed up, up .58%. led by a bunch of movers. sent --er three points 3%. the markets in the uae are a life with the sound of acquisition talk. a lot of mov
Bloomberg
Jul 26, 2016 12:00am EDT
close at its highest level. some good movement is coming through from mining stocks in china. average ofmoving volatility is actually at its lowest level in two years. a bit of a different story in japan. we're still waiting for further clarification on what the stimulus package from the bank of japan is going to be. there's a little bit of investor nervousness there. the nikkei is down by about 1.5%. some stocks have been having a very solid session. it has been weighing also on the australian market. they were record highs the reached during monday's session. we can't go a day without talking about pokemon go. has been having a good session based on its first-quarter earnings. sands china is a three month high. a number of analysts have come arough saying there has been turnaround in the macau gaming space. s k hynek's insole is heading the other way. fell dueating profit to declining memory chip sales. let's have a look at the yen. its strength is the reason we are seeing the japanese market under pressure. end is after we saw the touch 106 during monday's trading. touch 106 during
Bloomberg
Aug 6, 2017 12:00am EDT
nuclear weapons and missiles. china says it might work. standoffown, the with bondholders and dan a gas takes a new turn. man's ownerster are looking for more than their current deal. the signing of brazilian forward the -- nanar. this is "bloomberg markets: middle east." it is the first day of trading of the first full day of the new month. let's get to some global macro peered the u.s. jobs report on friday, that did take a lot of action we saw in u.s. markets. look at the dollar index, surging by the most in six weeks after what has basically been a month of dollar weakness. was up three quarters of a percent following better than support,payrolls payrolls coming in at 209 thousand, versus 180,000 in estimates. the 10 year yield up about four basis points and investors have a hard think about what strong jobs growth means for u.s. monetary policy. .77%,ile, gold falling, down about nine dollars per ounce. that is its first weekly decline since early july. take a look at the u.s. equity markets. we saw better-than-expected jobs report feeding into u.s. stocks, s&p 500 up almost 1/
Bloomberg
Feb 15, 2017 11:00pm EST
year. china notches record selloff. the pbmc burning its reserves to top off the yuan. yousef: we will a closer look at how emerging markets are shrugging off rising inflation, and a more hawkish cents. shery: state of play, trump asks netanyahu to curb expansion as he turns away from the two state solution. 8:00 in thes emirates, 4:00 in london. i am uses community -- yousef gamal el-din into by. we had five straight days of declines. if you look at the reflation in the asian session, not a lot of conviction at the moment, is there? shery: it seems to be fading right now. treasuries just climbing, reversing declines. look at my gma function. we are seeing the markets in the asia-pacific looking pretty maxed. a halfkei fell just percent. we have more strength for the japanese yen, up 0.2%. when it comes to commodities, we saw the commodity index rebound over night, tracking gains in metals. metals in asia gaining momentum. the big story when it comes to commodities, oil is swinging between gains and losses. is a lot about oil. let me show you what happened overnight. we did get de
Bloomberg
Oct 26, 2016 12:00am EDT
see what happens longer-term with apple. yousef: what extent does uncertainty in china way and on the outlook? >> that is a great look -- a great point. apple for the last six quarters has been counting china as this real growth engine. instead, what we have seen over the last several quarters is that china has been a big drag on their earnings potential. china went from being this very robust growth market for apple, and something that tim cook pointed to and spend a lot of time visiting china personally to make sure that that happened. instead, what we are seeing is those china sales continue to decrease. the question is how can apple fix that long-term? i think that could be an interesting question to watch as well. angie: even if they do fix it long-term and the demand is fair and robust, the holiday system that holiday season, you still have growth margins that are disappointing. how come they can't deal with that issue? >> that is a good question, angie. especially because it seems like the iphone 7 plus, which is the most expensive product, and therefore the one that is typ
Bloomberg
Jul 13, 2016 12:00am EDT
around the world, let's go to rosalind chin. rosalind: china can achieve its risk target of 5.5% for innovation. speaking at the eu china business summit. he says china's economy has shown great resilience and the country's economic growth will benefit european companies. he added china firmly support eu integration. beijing accused the philippines of occupation and the south china sea. china is refusing to recognize a un court ruling rejecting its claims to most of the waterways. a says a tribunal decision is political farce. beijing protesting against washington. bank of england governor mark carney has denied undermining the institution's independence on the run up to the brexit vote. the central bank chief was criticized for warning during the referendum campaign that leaving the eu could weaken the pound and cause a recession. carney told the committee he was not trying to scare anyone. sanders has formally endorsed hillary clinton as the democratic nominee. the senator joined the former secretary of state at a rally in new hampshire, saying although they disagree on issues, she
Bloomberg
Nov 2, 2016 12:00am EDT
china is one off. we are seeing the u.s. headlines, trump taking the lead in some of these polls starting to weigh on sentiment in asia. starts here, slumping to an 11 week low, the hang seng down by one and 3/10 of 1%. ofis a broad spectrum sectors. sinopec financial and is big losers. take a look at what we are seeing in the currency spectrum. the dollar weakening overnight is playing out across asian currencies. , of course, they have their own political anxieties, the leadership replacing the prime minister, the finance minister replace as well, but president park is still battling this influence scandal that has been developing. close ton won down by 1%. you have the kiwi dollar looking like this as well. jobs numbers family told on to much of those gains. finally, if you are looking for some optimism, commodities continue to build on the back of potentially [indiscernible] those economic indicators doing very well. of course, it is these safe havens. silver looking like gold, up by another quarter of 1%. manus. fors: thank you very much running up those markets for us. ther
Bloomberg
Apr 9, 2017 12:00am EDT
. china will start tightening. there are general concerns for the emerging market. you have to be selective, discriminate between emerging markets. what is happening in south america is not symptomatic of all countries. in south africa, it seems that president zuma is somewhat cornered. he has on the left of his ruling anc party, he has the so-called economic freedom fighters, the communist party -- the firing of the finance minister is clear indication that he feels pushed to the left. in south africa, concerns are very legitimate. the point is, how some thematic is south africa -- how symptomatic is south africa for the rest of emerging markets? tracy: what would you say -- south africa isn't that important to emerging markets? luciano: we have seen concerns in other countries. we saw turkey last year. it is not necessarily going to spill over. there is more discrimination than there used to be in the past. t1 emerging-market is of course china. that is another discussion altogether. i don't think south africa will trigger massive contagion over the next few weeks. tracy: on fri
Bloomberg
Jun 1, 2016 12:00am EDT
stability on china's factory floor. it is remaining positive for a third consecutive month. a.m. and 5:00 a.m. in london. i'm manus cranny. rishaad: welcome to "bloomberg markets: middle east." let's get straight to the headline across the bloomberg terminal. i lot was already flagged in the market. japan, you're part of the world, has decided to delay its sales halfike by two and a years. of course, no real reaction on the dollar-yen. it will be a question of whether abe goes for this fiscal stimulus. what do you think about this? rishaad: we had the finance minister go against the grain and break away and say he was in support of this delay as well. you remember the damage it did when we had the sales tax hike last time. people are really lobbying abe, suggesting it would just not be right for the economy. but people will be closely looking at this perhaps negatively because it is not sure up what is going on with the balance sheets with japan inc. they have already had some consternation about the delay to the delay, and whether this changes their stance on the outlook for the japanese
Bloomberg
May 11, 2016 12:00am EDT
countries as well, the likes of the u.s., u.k., and china, if you believe it. germany is now expecting -- expressing interest. why is germany interested in islamic banking? it is the first time for germany to participate in this kind of seminar. short time ago, huge potential was recognized because there are more than 5 million immigrants in germany, so we believe there is potential for this in germany. the reason for coming is to find out what we have to change in germany to support this. reporter: so into regulatory framework and play -- is regulatory framework and play to adopt this? >> yes. but the banking industry has to be profitable. mightd to find out what change in the future. reporter: you talked about how the migrant population, the drives islamicon banking in germany, but it islamic banking is for non-muslims as well. is there as stigma attached to islamic banking because of the refugee crisis? moment, there are problems with the refugees, and some part of the population is against this development. we have to change the ideas of the people. not only muslims will use this,
Bloomberg
Aug 1, 2017 12:00am EDT
. >> more signs of stability in china. the private factory gauges rising for a second month to its highest reading since march. the united00 a.m. in emirates. i'm yousef gamal el-din in dubai. david: i'm david ingles in hong kong. , andyou look at markets really have a look at what we are looking at across the board, we have equities against the u.s. dollar. yields are backing up as well and we are getting a followthrough move. tback to the here and now. two pieces of data today, the services pmi out of china, the private gauge. we also had exports coming out of south korea. when you put everything together and you put that together with the move up and commodities we have seen over the last week, it tells you the underlying fundamentals have really improved, maybe going back about a month and a half. this is one the rba decision comes into play. we get the decision out of sydney in about 20 minutes or so for the we also get the medium-term output. how do they balance an economy that is in much better shape than the last time they released that report? and when you look at the aussie dolla
Bloomberg
Feb 20, 2017 11:00pm EST
china, a very strong rally from chinese banks, and also from automakers today. the chinese stocks listed in hong kong continuing on that strong rally, the hiv and share indexes now at november 2015 ,ighs, up 12% so far this year so a lot of that optimism about china's economic data flowing through into the equity market. bill international in hong kong, up by a 9% after credit suisse gave it an upgrade to outperform. some weakness, the aussie market down by a third of 1%, bhp billiton after the bell with earnings results. we have seen a big stock options trade in the early session in sydney today. if you look at the nikkei, trading higher, the yen retreating, up by .7%. has been a couple of calls about the yen today, the imf saying it will weekend to around 120 before rallying. bloomberg daybreak: asia radio saying we could see the yen go to 125, but down .5% at the moment. thanks. has slipped to second place in the global ranking of oil producers. my next guest says change in oil markets is structural, not cyclical, and $100 a barrel will not be seen again. .oining me now is foua
Bloomberg
Apr 12, 2017 12:00am EDT
price inflation in china is very supportive in china. i think the higher profit margin for chinese industrial. at the very least, it is actually quite positive, supportive of commodity prices. supportlly, actively over the aussie of the medium term. your: i want to get attention back to the japanese yen. pardon me if i get more technical. p you take the five-year dollar-yen, 125, 126 and take the bottom 98, 99, we are at a critical level. 109.45, if you consider it there is a surplus in japan, this probably is still undervalued. in terms of -- if you look at relative producer prices, or all of these valuation for the japanese currency, sir value for the japanese yen is closer to 100. there is certainly scope here for dollar-yen two and lower, especially if we do not have -- the trump administration there is a delay, or we don't have any more material as announcement regarding a trump stimulus package. if that is the case and the u.s. will struggle to go up against most major currency that would and dollar-yen even lower, for that over to at least 30, which is around 100. yousef: th
Bloomberg
Apr 26, 2017 12:00am EDT
assets take? mark: at the moment, sentiment is very positive. we are really seeing that globally. china is the one exception. assets it as u.s. optimistic. it is important to note, from theons that come trump meeting are not very high. they expect a lot of ground state minutes, but without approval it does not mean much. let's wait to see whether it will get through. what is interesting is, despite these expectations, there is a positiverisk for surprise, just because investors want to get involved again. , theythe french election are seeing a market rally, so they will be looking to spin it any positive way, if they can. yousef: i am looking at the two-year paper in the u.s., the strongest demand in 2016 in some 11 months. what is the story on the fixed income side? why is the paper showing some breakout signals? this we are really seeing across bond markets globally. only a week ago we were wondering whether the fed rate hike cycle might be over, there was a panic more than a week ago. suddenly there is a big change in sentiment. we got past the french election and pass the north kore
Bloomberg
Jun 23, 2016 12:00am EDT
analysis shows the china deficit exceeding, more than three times the official target. banks andis using local government to pump money into the slowing economy. on capitolemocrats hill, trying to continue until republicans agreed to vote on good related measures. protests have come to a halt and put the public on the defensive on an issue that is significant following the or later shooting massacre and in an election year. the leaders ordered the c-span cameras turned off, but the democrats continue to stream the action. and we are being told that the biggest bank of abu dhabi merging with another should not be seen as a takeover, it will be a merger of equals. it is the national bank of abu dhabi -- shares have surged since bloomberg first reported that they were in talks last week. global news, 24 hours a day, powered by journalist and more than 120 countries. this is bloomberg. chinad: rosalind reporting. only a couple of hours away from the critical referendum in the u.k., markets around the world watching and waiting, the polls suggesting that it will be a tight race. they sa
Bloomberg
Aug 8, 2017 12:00am EDT
cannot take china out of the equation. export data this morning missing expectation. will china be able to become the exporter of the inflation going forward, or has its growth peaked now? >> i think china is probably going to find it difficult to come back. the growth rate is something which we are urgently trying to lift and rebalance, so we aren't looking for it to become a major inflation driver longer-term. >> it seems that china, though, is seeing an uptick when it comes to its own consumption. that of course is stemming from the weakness in the u.s. dollar. where do the currency's go from here when you are comparing the u.s. dollar against emerging-market currencies? >> that's exactly right. we think china will continue to see improvement. longer-term, looking at the global currencies, i think we probably can see some dollar strength coming through next year, possibly the end of next year, but this year i think we will see the flux between expectations on the market and dovish fed comments coming through. certainly we have seen great concerns from the fed over inflation in the la
Bloomberg
Apr 24, 2017 12:00am EDT
that china's expected growth target is within reach in that financial risks are under control. on the imf website, an official said they would maintain neutral monetary policies. we are confident of anything any threat. news 24 hours a day powered by more than 2600 journalists and analysts, this is bloomberg. >> we have france voting for change with establishment parties defeated. the final counts as emmanuel 23.8% of thelmost vote. his rival is marine le pen, taking 21.5%. surveys are suggesting that emmanuel macron will win. i would like to say that i realize with my responsibility is and i also know what it means . i will carry on with optimism, enthusiasm, and faith in europe. the time has come to free our of americane politicians and policies. those who want to dictate our destiny. let's have a look the market implications. [speaking simultaneously] the clear risk markets today was a continuation of the theme from the weekend. don't heals coming up a little bit as well. in linee confirmation with what polls are expecting, we are seeing a surge this morning. mina last few hour
Bloomberg
Feb 21, 2017 11:00pm EST
. >> totally. point,ay they made the there are 16 cities identified around china on the property front. the challenges they need to rein in access -- excess liquidity. that witheed to do wider economic recovery. we know it is likely to be the narrative. a big part of the chinese growth the story. it needs to balance and rain in those prizes without attributing to the wider economy. that's going to be difficult ahead. about the broader economy for 2017. >> it was an interesting speech. how tackling the impact of the economy is going to be there core problem during the year. are quite they serious about reining in excess liquidating -- liquidity. targeted a series of things in his own words. , know we have heard it before at the very least he acknowledged risk and it shows helping.seriously it is a question on if they are delivering on those words or not. stories, our other top cautioned against the u.s. central bank waiting too long to raise rates. bloomberg tv spoke to her asking what she needs to see before she is comfortable with movement? if the economy continues progressing along t
Bloomberg
Feb 8, 2017 11:00pm EST
a surge. >> in the sweet spot, how china has found a policy balance to get the yuan right where they want it. >> saudi arabia sales stall after management of its debt office. >> singapore airlines said it to be near a $14 billion deal with boeing. eva click a.m. across the emirates, 4:00 a.m. in london. in hong kong, it has just gone midday. gold holding steady after surging in the previous session, japanese yen is coming down from those eyes. how long will this last given that donald trump could to eat anytime? anytime? tweet yousef: the u.s. treasuries are up. there is a tone of caution in these asset classes. this tells the story of how the trump euphoria is starting to fade. this is interesting because we have contrasted this with other victories. you can pull this up on your bloomberg. this yellow line is the s&p 500 post the trump election victory. the line is blue are after the victory after shinzo abe. we ask how much further this can go. they asked that investors shift to emerging markets and that the honeymoon is pretty much over at this stage. bonds inybe corporate em
Bloomberg
Jun 28, 2016 12:00am EDT
everyone is asking themselves right now and we saw some hint of it yesterday when china unveiled at the u.n., showing it was down since august of last year. we have had those safe haven inflows into currencies such as the u.s. dollar, the japanese yen and that puts pressure on emerging markets currencies and peggede on the currency to the u.s. dollar. it is really not good for emerging markets. we have seen talks of how the central bank will combat that, including potentially china using the brexit to widen the trading range of the u.n. and prepare for even a bigger devaluation going forward. rishaad: the winds of currency wars comes and go over the years. yusef: how tangible of an impact will this have on the markets? tracy: if you remember, one of the things that helped us escape the big selloff earlier this year was the idea of a new shanghai accord or gentleman's agreement between the world's central banks to maintain currency stability, especially the dollar versus the yen and the euro. whether or not you believe that theory, there was a lot of debate about it. the idea that helps
Bloomberg
Jun 22, 2016 12:00am EDT
significant impact on global market sentiment and she mentioned china's well. the change in her tune putting her closer to the other fed people as well. a shot: many are suggesting may be we do not get a rate hike this year. >> exactly. if we look at the pay function it was that week jobs employment number. we had more than a 50% chance of a rate hike in july. it is at 10%. if you look after september it is below 30's -- 30%. there is not a view of more than chance.- 50% until january next year. -- fed is still ticking sticking to their timetable. janet yellen did say that even though they have blown -- low unemployment the sea sluggish wages and inflation below 2%. she will be speaking before the house finance committee later today. rishaad: secular stagnation and the clock. taken away. manus: joining us to discuss all these issues is the global head of research, the second is -- biggest sovereign wealth fund. welcome to the show. thank you for coming in. -- it is aill pleasure. thank you. manus: my question to you is they have told the world, we will get to rate hikes off the block
Bloomberg
Jul 28, 2016 12:00am EDT
a massive slowdown in china. how long do you think these conditions are going to last? toi think china is going have an important element in when we are trying to see where oil is going to go. , iot of it has to do with bring that back to the middle eastern investors and how comfortable they are adopting the saudi producers in terms of adapting to oil supplies and oil demand. saudi arabia still remains the marginal producer. they still have a lot of leverage on a price. difficult to forecast where oil will be depending on the shale industry in the united states and the china situation. what i can say is that saudi arabia still has a lot of margin to maneuver. they will still be a price stabilizer for oil. yousef: thank you for a coming on the show. corner net -- second-quarter net is rising to 125.7 million. that is just hitting the bloomberg. that is an increase of 36%. that is one of the top benchmarks in the region. they were buying some of the stake in that company. we'll see how the investors react with the bond market comes online shortly. this is come: bloomberg. ♪ angie
Bloomberg
Aug 11, 2016 12:00am EDT
. china is claiming progress in diffusing risks from the credit explosion. it is steady in the second quarter after almost three years of increases. the banking regulator says the ratio was 1.75%. however another unit says the official units are highly understated and couldn't mask of potential ratio of 20% or almost $2 trillion in losses. hillary clinton is consolidating her lead over donald trump. the bounce sheof received from the democratic national convention. a bloomberg poll gives her a six-point advantage three months out from the election. forsurvey was conducted donald trump's second amendment comments on tuesday. global news 24 hours a day. rishaad: three central-bank decisions coming in the asia-pacific region. cutting rates at a time like this we can show this chart that says it all. prudential macro come into play. you're trying to stoke investment and inflation the same time. you're still inflation in the housing market. have a look at where the rates are right now. the guys graeme willy here. people were expecting a 50 basis point target. they are notid going to be abl
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