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Bloomberg
Oct 19, 2015 7:00pm EDT
china, head. welcome to "first up", live from hong kong. top story, morgan stanley afters overnight reporting a loss related to private equity investments in china. james gorman described last quarter as the "worst for fixed income since the financial crisis." let's get on this now and the rest of the trading news. following onnley the heels of goldman sachs and j.p. morgan chase with a similar story of a very rough quarter for fixed income. trimming an earlier loss of more than 8% in the session. a lot related to private equity investments in china, and also suffered a drop in bond trading revenue. as we mentioned, the ceo calling it one of the worst bond trading quarters since the financial crisis. james gorman has about to run a less volatile bag, and says "we had an unusual pick up in the merchant bank -- pickup in the merchant bank." $.42 a share mississippi three shins per share, missing estimates by a lot. missing $.63 per share, missing estimates by a lot. full-year profit forecast, 14 straight quarterly decline in revenue, affecting the challenge of a turnaround for a tech
Bloomberg
Sep 23, 2015 7:00pm EDT
angie: boeing unveils the biggest china investment and lands $8 billion in jet orders as the president pays a visit. engulfed by scandal, volkswagen ceo martin winterkorn steps down by acknowledging deliberate in mission cheating -- emission cheating. welcome to "first up." let's check in on markets in asia. new zealand has good news, upgrading its forecast for payout for milk for decimal farmers -- for milk farmers. we are seeing them lead the gains. font terra is climbing, 4.4% up. $.62.aland dollar is following australia and japan. let's go to japan's big ketchup. on friday it was down, futures in chicago, check that out. it is going to have to join in and catch up to be selloff we have seen in asia. dollar yen right now is straight -- strengthening. markets in indonesia, malaysia, and singapore are closed because of higher icy -- holiday. the chinese president has met with business leaders in seattle, one of the biggest winners with boeing. orders.d $38 billion in this is quite a significant deal for boeing and for china? >> you better believe it. right now i am standing
Bloomberg
Jul 27, 2015 7:00pm EDT
♪ angie: u.s. stocks post the longest losing streak since january after china's dramatic plunge. oversupply and falling demand, returning to a bear market as producers as well the oil glut. after second quarter earnings fall. coming liveirst up, from bloomberg's asia headquarters in hong kong. good morning. i'm even oyvonne man. we have this while day in china, down 8.5%. it sparked the selloff across the world. we are continuing to see extended those losses today, down about one third of a percent. spot iszealand dollar slightly gaining but we continue to see pressure on these commodities currencies. there are some forecasting that it could drop as much as 55 u.s. cents. we are counting down to the opening in australia, japan and korea. less than one hour away for japan, it looks like we will continue to see this selloff today. 25 closing 1% yesterday in tokyo. futures in chicago looking to another lower open today. the dollar/yen is weakening right now. only one story -- the chaos in china. the composite plunged 8.5% yesterday while shenzhen fell 7%. it was shanghai's biggest
Bloomberg
Sep 22, 2015 7:00pm EDT
♪ angie: land of opportunity -- china's president arrives in the u.s. talking about market reforms and foreign investment. to face asure -- ceo ford showdown over the volkswagen showdown. we get hands-on with the new iphone model and give a verdict on whether it is worth upgrading. welcome to first up. i'm angie lau coming to you live from bloomberg's asian headquarters in hong kong. let's check in on markets in asia right now. to new zealand following wall street selloff. new zealand is a quarter of 1% off. the new zealand dollar spot at $.62. counting down the openings of australia, korea and one closed market to tell you about. it is a public market in japan -- public holiday in japan to know trading today. china's president has begun the first leg of his much-anticipated visit to the united states. he is currently in seattle where in one hour he will deliver what is being billed a major policy speech in front of u.s. business and government officials. we have got bloombergs raimi there for us live from seattle. what is happening right now? raimi: good morning. and good evening
Bloomberg
Mar 29, 2015 7:00pm EDT
stimulating discussions. here is china's concern that the slowdown has gone too far. emerging from the ruins. we finalize the list of reforms that could release $3 billion in aid. -- lol,fairway singapore says goodbye to lee kuan yew. i'm angie "first up", lau. china's governor says growth is the -- the world's second-largest economy has slumped to far for his liking. china has the tools to deal with it, both were speaking at a forum. with mark, christine give us some details here. he always has his own press session for mainly local press. at this session he openly said that china's growth rate has fallen a little bit too much for his liking. figures have not been very positive either. he also warned of the disinflation trends we are currently seeing. we need to watch to see if deflation will become a possibility. . fair bit of caution there but he did also say that china does have room to act with interest rates and quantitative measures. with economies expectations that there will be more with rate cuts. zhou also said thahat we need to have patience to see the steps that were a
Bloomberg
Jul 27, 2014 7:00pm EDT
>> total recall. the company linked to the meat scare in china will withdraw all its products. recalls for nissan because of airbags that may be faulty. and the gaza cease-fire was breached. fighting resumes between israel and hamas. welcome to "first up." i am angie lau, coming to you from hong kong. -- fasting fast forward food meat scandal in china -- authorities in shanghai have released initial findings. the supplier's durant has taken action. -- parent has taken action. works let us look at what the company is doing. the parent company runs the food processing plant in shanghai, along with nine others. basically announced a full recall. everything they have sold, basically, the customer gave it back. that is the statement they posted on their website. to help rebuild the trust of our consumers and cooperate with the investigative process, we are compelled to withdraw all products manufactured at this factory, the shanghai plant. fda comes as the shanghai put out initial findings that they did tamper with the reduction dates of some meet 17% -- meat pies and almost were r
Bloomberg
Sep 13, 2015 7:00pm EDT
failure to launch, china's latest numbers disappoint. the government struggles to fire up the economy. singapore is reelected government focuses on a six decade of leadership. keeping secrets, we speak to the ceo of flickr about how to protect your privacy. welcome to first up, i am angie lau. the top story this monday morning for us here in asia and the latest proof of china's growing economy, we have two metrics was a motherly dismal results. that is here to explain. failing to meet expectations, missing forecasts this is the stimulus effort that appears to not be working as well as we first thought. coming in at the slowest pace in 15 years, industrial out this while it posted a modest move were notugust numbers gangbusters by any dimension. it's a look at what we saw in asset investment, that is something the market watch is very closely. a steady downward trend through the course of this year, p look at the latest numbers, 10.9%. that came in below expectations as well. it all raises the question of additional stimulus is will be how will the government probably sick econ
Bloomberg
Aug 3, 2014 7:00pm EDT
>> the threat from the debt. a new warning from china's central bank. >> in need of retail therapy? what's gone wrong with shopping in singapore. >> and the prime minister that's traveled more than any japanese leader before. welcome to "first up." i'm angie lau coming to you live from bloomberg head quarters in hong kong here on monday morning in asia and streaming on your mobile and bloomberg.com. one of our top stories today. an earthquake in southwestern china has killed 367 people and injured 1,400 more. the quake measured 6.5 and struck late yesterday afternoon in yunnan province. the army has been sent in to help recover. 200 missing. homes strid and power and communication in the region still cut off. > amid a rapid increase in credit supply, china has given the indication it will hold off on stimulus. new economic data. >> thrarts that's right. let's start with the comments, first, angie, and the central bank here in relay leasing its second quarter monetary report makes the conclusion that broad monetary policy and monetary easing is not necessary. they don't want to go d
Bloomberg
Feb 15, 2016 6:00pm EST
equities climbing point 2% despite imports and exports from china weaker than expected. ba minuteswe get her from the february meeting out ahead today. we will see how they are dealing with market volatility. in new zealand, a gains of .33% higher. and we are counting down to the opens in japan and korea. will today be a day like yesterday? it was a whopper of a take climbing more than 7% higher. that helped lead asian markets to the best rally in seven years. futures in chicago pointing to a lower open this morning. this is likely why. we have a stronger yen. the relief rally that swept through asian markets really did carry through the european session with growing hope that the ecb will expand the malus. we have -- expand stimulus. mario draghi taking credit for the change in sentiment. we have been talking about the limits of the federal bank's ability to keep the stability and growth in the financial markets. we are seeing what happened when the dha took that drastic decision. we are back to that recovery. we saw those gains. it does seem like the european equities was very much
Bloomberg
Oct 14, 2015 7:00pm EDT
they are going to get in the china. as you pointed out, this has a huge impact on their cost. -- their content cost obligations at about 10 point $5 billion. especially on the international side, that is being pressured a lot -- $10.5 billion. especially on the international side. but the company has said they will be profitable in 2017, so we will see how that plays out. angie: but we often say here that content is king, right? ace big netflix f risks for content owners who could get more aggressive in charge them on a person's graber basis -- per-subscriber basis rather than flat fees? reporter: we have seen some of the content companies become a little skeptical about giving their content away to netflix. they feel that they might have given it a little bit too cheap. in netflix has foreseen this a way. they have been moving away from distributing old, licensed content and making a foray into originals, house of cards, orange is the new black, narcos. their originalg strategy. this is something mentioned on the call as well -- when it comes to a decision between originals
Bloomberg
Oct 12, 2015 7:00pm EDT
happened. the former head of china's biggest oil producer has been jailed for 16 years for taking bribes and abuse of power. he is one of the highest-ranking officials to be taken down in the official campaign against corruption. his case is linked to a one-time standing committee who dominated the chinese energy industry for decades. he was sentenced to life in prison in june. and a british foreign academic has won the nobel prize for economics for his work on consumption, poverty, and welfare. hisas lauded for understanding at the national level and worldwide. the nobel committee says he had enhanced understanding of economic policy more than anyone. helpesearch has looked at in rich and poor countries, including india, tying calorie intakes to levels of income. globalheck in on the state of play on the market. the head of investment strategy at amt capital investors joins us from sydney. is the worry over? we had a pretty calm trading day on wall street. we are seeing levels back at where we saw them in august, before the meltdown. >> that is right. that is a good sign. we have
Bloomberg
Apr 12, 2015 7:00pm EDT
kong and china are not alone. even in the face of potential interest rate hike. >> everyone is expecting stimulus. further steps to shore up its economy and the financial markets. >> that is right here at three state related vendors. they have finance lending projects dealing with everything from infrastructure to the markets. why should investors care? there reorganized their missions really to focus on more policy driven lending. economic growth. market stability. these banks will help back that up. investors continue buying. that is what seems to be coming. ofi think we will see a lot that. let's see how far it can go. thank you for that. to cutng once china visitors. under the new proposal, they would only allow them to visit once a week. visitors have sparked protest by buying daily necessities in hong kong to resell in the mainland, driving up prices. beijing has yet to respond. >> the indian prime minister is trying to speed up growth in the economy. he said there were huge opportunities for cooperation in area for construction and railways. he promised to cut red tape f
Bloomberg
Sep 16, 2015 7:00pm EDT
ahn: we did. forafternoon in china investors is now a waiting game. will they not intervene in the markets? yesterday, or the speculation is, they did intervene. you cannot not speculate. take a look at the shanghai composite. in the last hour of training, a surge of 5%. goldman sachs saying, $246rities have spent billion purchasing shares, trying to prop up markets. china's also rising, 7.2%. h shares rallying more than 2%. angie: four a shares, we can say china might have intervene. but shares also surged in new york. shery ahn: yes, on that speculation china's intervening in the market to stabilize stocks. online retailer j.d..com surging more than 8%. the internet stocks are now leading the game in the u.s. investors are thinking that these sort of oversold chinese e-commerce stocks could have more possibility on the upside. they also think that the fed meeting coming up this week, they don't think that will have a big impact on these stocks. of course, traders seeing a 30% chance of inveterate--- fed rate hike this time around. angie: are we assuming it is state support or inv
Bloomberg
Sep 14, 2015 7:00pm EDT
. crude realities, china's slowdown ways on oil with no sign of a quick end. secrets, welcome to first up. i'm angie lau. let's get right to it. australia has woken up to a new prime minister this morning. years,th time in eight former lawyer and investment banker ousted tony happen in a party room crew just a few hours after announcing his challenge and less than two years after abbott won a general election. let's go to sydney. >> he is well known in australia, but the rest of the world might be wondering who is the? >> he is a well known here in quite well-liked as well. he consistently polls above abbott. he is progressive on issues such as climate change and gay marriage. this is despite his background as an investment banker. let's take a look at it is. he's a very wealthy self-made man with a considerable fortune and a strong understanding of business. you can imagine how he would have reacted when tony abbott lied prince philip. he's also a former leader of the party. he lost to tony abbott by a single vote in 2009. that was over eternal party disagreements. and has beeni
Bloomberg
Aug 30, 2015 7:00pm EDT
china? ccb was the last to report. icbc out late last week. zero profit growth. ccb, same situation. yuan,come, 64.9 billion unchanged from a euro. nonperforming loans jumping 28% since the first half. ratio is still quite low at 1.42% outstanding credit. ed, butumbers may be fudg that is a significant rise. angie: thank you so much for that, stephen engle. china's market open today. tos follows the decision prop up interest rates ahead of a showpiece military parade on thursday. the rally may be short-lived. theeckert explains why options market is not convinced. zeb: not convinced at all. last week, we had a 10% rally on thursday and friday. thursday, up 4.82%. , governmenttime buying up stocks at interest-rate cuts. you have options traders adding ts on thebearish be market saying, wait a minute. we do not think this will happen. the focus is that they are surging to record levels in shanghai and new york. major ones. what we see is the so-called "spread," volatility, showing a big uptick in bearish bets. not convinced by efforts of the pboc. angie: this is the most leveraged mar
Bloomberg
Jul 23, 2015 7:00pm EDT
♪ amazon jumps after reporting a second-quarter profit. says the food safety problems in china are over. supply and demand. oil slides into a bear market. keeps stockstion in place. "elcome to "first up. let's check in on the markets in asia this morning. new zealand currently unchanged after the central bank cut interest rates for the second time in six weeks. we also have trade data showing the trade balance fell in the red. at $.66.ealand dollar we are counting down to the opens in australia, japan, and south korea. we saw japan futures pointing to a lower open. at ag the day yesterday gain of half a percent. at 123.91.trading in the u.s., amazon shares trading after a surprise profit. spencer has been tracking this from san francisco. what helped it post such a profit? is amazon's thing cloud computing division, web services. revenue grew 80%. they're operating income was up fourfold. it is also becoming more profitable. the company was able to keep spending in control. particularly the marketing and fulfillment expenses. they were able to curb spending while growing revenue. t
Bloomberg
Aug 19, 2015 7:00pm EDT
hearing china may have wanted to do that because of the imf. >> just last month we got indications that they imf would likely delay this decision. currentended the composition which is the dollar, the yen, the euro, and the pound. disruptions.y we have a quote from the imf's mission chief for china. he called last week moves by the pboc, important steps. we hope this new system, the fixing mechanism, will allow exchange rate to be a little bit more flexible and move around according to the market pressures. they want more movement and clarity on the convertibility. >> there must've been some reaction in the offshore yuan. we have overnight the offshore, it traded down. says traders who sold offshore you one likely overreacted by misinterpreting the board's decision as a sign the imf does not think the yuan qualifies for the sbr. patel says our base case remains that this will be cleared, freely usable hurdle by the end of this year and will eventually be included in the fdr basket. even that we are incurring some fuel that has been lost, it's much smaller. the net benefit is better. if
Bloomberg
Nov 23, 2014 6:00pm EST
china for the growth and you see slowdown in the oreomy, for example, iron prices. all of these stocks are under pressure. close oncuts after the friday and it is good news because it means that easing will come forward. >> that is the thought. >> that is the thought. it helps the stocks rise. weakness is a reaction to the chinese. that is the sort of pop there could be. >> it spiked up like a rocket. >> after the close on friday. that is the reaction we are looking at. here are the gains. that one has fallen a lot. there are other ones to follow. i am pausing for effect. >> look at the liquidity injection, perhaps. if china gets more cash to grow the economy, this is what will be the beneficiary. >> that's right. more push for growth included. we are reminding the viewer's that the official cash rate was cut for the first time in two years. it was a big surprise. the one-year lending rate was cut to 5.6%. adre you will see chinese on u.s. trade reacting to the rate cut. you see the bank of china and the construction bank. everybody.surprising >2.75%. that is australia. we are waiting
Bloomberg
Jan 10, 2016 6:00pm EST
china. record-breaking ipo while oil trade near a 12 year low. starstruck, the force awakens remains the box office number one and takes china by storm. up." we arefirst coming to you live from bloomberg's asian headquarters. all right, it was a pretty good week last week. let's see how today goes. right now let's check on market in asia. in australia, 4/10 of 1% lower than below that 5000 mark. the aussie dollar is weakening at six nine cents. perhaps inclination to think that perhaps the fed good raise rates once again. to new zealand we go -- this is the view. let's take a look at the kiwi. we are seeing weakness for new zealand. 65 u.s. cents. right now, equities are three quarters of 1% down. one close market to tell you about, no trading in japan for coming-of-age day. we all feel a little older i am sure. in those markets open today, investors will be bracing for another rocky ride after chinese adr plunged on friday. juliet is following the action for us. juliet: it is like august all over again. we had that horror week coming through in global equities and the chines
Bloomberg
Aug 10, 2015 7:00pm EDT
of corporate deal activity. it was related to china's stock rally. the ticket early the imports. gains and assets from oil to copper revived speculation that inflation here in the u.s. may accelerate. the stock market took a real swing. the dow halted its longest losing streak since 2011. the nasdaq and s&p 500 up. off.urse, china kick it merger activity gave the market an excuse to rally. oil was where we saw the biggest turnaround. it rebounded from the lowest price and five months to a record in july. it was up about two and a half percent. %. up about 2.5 big story, the merger. this company is in equipment maker for aerospace and energy industries. the stock soared 19%. the class b shares took a bit of a debt. the deal is not to further change the complexion of the big conglomerate. it is warren buffett biggest acquisition yet. >> deals come here not just because of war in, but because of any number of features of the company. the fact that the deal came this thatust affirms that idea it's an institution, not just a single man. .6 the institution had 66 billion in cash on ha
Bloomberg
May 15, 2016 7:00pm EDT
will break that to you when it comes. is the story disappointing data from china over the weekend that highlights the challenge facing policymakers trying to reform the economy and cut overcapacity. how bad do things look? in march we saw a slew of positive data. some would say this is a corner has been turned. the reality is that industrial output and production and retail sales and private investment all missed their forecasts. bloomberg tracks gdp growth. the bloomberg tracker has come and that is down from 7.11% in march. some of his cause by that date on industrial production. a big part of the reason is a slowdown in the coal and steel industries. a big part of that was a slowdown in automobile sales. down 5.1%. in march.ore than 12% private investors here seeming to lose confidence. as the forecasters had expected. new housing sales still up around 63% in april. due to cities putting curves to tighten some of that runaway growth that we've seen. the bank of china has come out and try to reassure the markets that they maintain supportive of the economy. just before this date
Bloomberg
Aug 2, 2015 7:00pm EDT
free activation. >> action is expected. the pressure is on china. back to business. grease stock exchange opens after a shutdown to protect the economy. reece stock exchange opens after a shutdowndown to protecte economy. welcome to "firstup." -- live fromr from bloomberg asia. checking on markets, let's head to new zealand new zealand to be gainingen for three consecutive weeks. the kiwi dollar has seen a falling for the last three consecutive sessions. down to thecounting opening in australia. japan's nikkei ending 3% higher. futuresand make a pointing to slightly higher -- futures pointing to slightly higher. manufacturing data coming out later today. an economic slowdown. the gauge slipped to a five-month low. yvonne has been taking a look at this. it may be time to take more action. that it justsigns was not stable. market juste stock makes things more obligated. in july.pmi 50 anything above 50 indicates expansion. there are talk of fresh fiscal spending in the picture just to make sure china can reach that growth target by the end of the year. continuing pressure for the s
Bloomberg
Jul 26, 2015 7:00pm EDT
manufacturing data from china on friday and demand is declining. juliet has been watching this for us. let's talk about copper really quick. ,t seems like what is going on this ban on selling stocks, people are going to the metals. we saw a rash of measures by chinese authorities to stop the equity rout. --tead, we are ceiling seeing traders selling out of copper. china consumes 40% of the worlds supply of copper. that manufacturing number coming through on friday exacerbating the selloff. there will not be as much demand for it. that is why we have seen the copper price flat. futures are down 15% year to date. you can see most of the weakness coming through in the last couple weeks as we have seen the rout in equities. down 1.5% to the lowest level since 2009. yvonne: if you cannot sell stock, cut your losses. --will look at goal later gold later. but what is making it lose its shine? >> we are seeing investors go the first time, declining for the fourth week in a row. the problem with a weaker gold price, under $1100 an ounce, if it falls below $1000, that will curb the profits o
Bloomberg
Feb 1, 2015 6:00pm EST
>> the growing case for easing in china. factory output continues to slope did no more aid for now -- to slow. reverse, out of queens land defeat could be a career defining moment. happy monday to you. i am in for angie lau this morning. up 1/10 of a percent. the dollar strengthening to 77. a going through a plunge. the rb and zed holding rates steady at 3.5% last week. zealand dollar, and the lowest in four years. we are counting down to the open in japan and south korea, less than one hour to go. nikkei futures pointing to a lower open after the decay to 25 closed -- after the nikkei closed -- the nikkei to the five closed at -- that china's manufacturing sector is not only slowing down at shrinking. now with the details. two years and four months. it was expected to slow down. >> you alluded to the 50, which indicates ahead activity will slow. there is a survey of managers that ask a bunch of questions. when it gets to the 50 it shows you may be a touchy spot of the next two months. that is what you have over the course of the next seven months. there are a few reasons. seasonal
Bloomberg
Jun 15, 2014 7:00pm EDT
shakeup of the industry in china. the government is considering lifting a decade-long ban on foreign takeovers of chinese steel plants. one of the future global players with investments there. the fuel industry is facing has welcomed the potential continuing losses, some say it is the harshest operating environment in history. icbc may be the first chinese bank to get a u.k. license. the bank is still in talks with regulators, that is set to get a license by the end of the year that would allow the world's biggest lender to boost transactions and went larger sums. india's new prime minister has warned tough decisions need to be made to revive the economy. he is prepared to see his ratings fall. growth is stuck near a decade low wall inflation has averaged about 10%. the new federal budget is expected next month. bloomberg markets just released its latest list of the world strongest banks. an asian bank tops the list, once again. bank.g seng 1933, it did quite well across a lot of these metrics. here is the list, by the way. that is the top 20. it was a former money exchange back in 1
Bloomberg
Mar 15, 2015 7:00pm EDT
broadcaster, which is an arm to have government of china. let's talk about the auto companies. the dealers for nissan, volkswagen and daimler reportedly overstated problems with cars and then overcharged for simple fixes. these are the allegations. volkswagen has quickly apologized for any inconveniences for consumers and they are tracking dealer performances with regular audits. dunfang says "it takes these allegations very seriously." daimler so far has declined to comment yet. jaguar, separate claims. the s.u.v., which, by the -- by the way, you have an interview with victoria beck ham, who is the ambassador for the car in china. land rover refused to admit that this particular s.u.v. has gearbox problems so they're in the cross hairs. so far jaguar-land rover hasn't commented. china mobile and home telecom apparently allowed fraudsters to use their service for different illegal activity. it's not just foreign companies. china mobile is also in the cross hairs. >> that's a little telling for a state-owned sbrizz, big targetted by a state-owned media agency. >> if you're doing wrong, you
Bloomberg
Sep 30, 2015 7:00pm EDT
since 2011. takes foundations china measures to bolster the economy, cutting down payments for first-time buyers. searching for a solution. google resolves the long-running patent dispute with microsoft. love them to "first up." -- welcome to "first up." i'm angie lau. we have breaking news at the start of the show. south korea's industrial production rose 0.4% in august from the previous month. economists were expecting a drop of one and a half percent. that is definitely a bright spot for korea, for the year on year factory output rose dear 0.3% compared to 1.8% decline estimate. outperforming what economists had expected from south korea. see how the markets react in an hour. u.s. stocks got a modicum of relief at the end of the worst quarter since 2011.let's go over to new york to get more from su keenan. intoday's rally put a dent>> the most volatile corridor in four years. it was not just stocks but commodities, emerging-market currencies which got hit in the past quarter. many strategies are happy to see this behind us. the worst many can remember in some time. in terms of wha
Bloomberg
Oct 1, 2015 7:00pm EDT
the heels of that better than expected figure from china, pmi data. still in contraction mode, but better than expected. we are counting down to the openings in australia, japan, and korea. let's head over to japan's nikkei to 25, last closed up almost 2%. futures pointing to pretty flat open. let's see what today brings their. thatave a stronger yen will definitely impact some of the sentiments for exporters. china is closed for national day celebration. markets will reopen next thursday. india is shut today to commemorate gandhi's birthday. to close inrallied positive territory after spending much of thursday session in the red. let's get more from sue. what was behind these moves? sue: it is a wait and see kind of clothes, all three indexes were close to where they begin. we saw the s&p and nasdaq close with names. treasury yields salsa symbolist -- volatility, but ended unchanged at 2%. it means that everyone is looking ahead to be friday jobs data. u.s. companies added jobs last month. unemployment held steady. oft will be a continuation improving labor market. we know that mo
Bloomberg
Feb 23, 2014 6:00pm EST
>> the age of austerity is over. g 20 ministers change their focus to global growth. china urges to cut its factories as pollution gets worse and the wider view. shanghai takes on the world by tape -- by staying close to its roots. a warm welcome to this monday edition of a first up, coming to live from the asian headquarters in hong kong. i am standing in today for angie lau. thank you for watching. trading prepares to get underway under the asia-pacific this week. first out of the gate, we are seeing a modest advance in shares today. we will have full coverage from finance ministers to ministers there. around $.85.ding let's check in and see how that is trading. the top 50 is indexing around 82, 83. whatpan and korea, this is we have. a strong finish for friday. japanese stocks are capping the biggest weekly gain. we may be able to cap some modest gains. keep watching began. of course, a weakening yen is positive for those manufacturers . the key story as we begin this monday in the age of austerity is over. global growth is the new target. wants aralian treasurer concrete outcome
Bloomberg
May 24, 2015 7:00pm EDT
, the potential for sales in china is huge. it will not let me crash. new categories of gadgets, products not even on the market, will see a doubling in some sectors around the world. like camera drones to 3-d printing. one way for china to mass-produced cars. ultraearable devices to high definition television and video devices. this is probably the only time in china when i can stick a camera in someone's face like this. twitter, blocked in china, relegated to the back of the hall. they have an inbox and mail. carefuler be capable -- opening those attachments. stephen engle in shanghai. angie: we will have more later in the show, including stephen joining us live to show us the latest gadgets and discuss how china's appetite for innovation is changing the face of technology. coming up, mixed signals. what will the latest round of trade data tell us about japan's recovery? will speak to ubs after the break. ♪ angie: checking headlines around the world, malaysia's prime minister is shocked by the discovery of mass graves near the border of thailand which appear to contain hundr
Bloomberg
Jul 19, 2015 7:00pm EDT
relief. china's property prices strengthen again driven by rate cuts. the feds optimism about the economy makes investors the least bullish on record. coming to you live from bloomberg division headquarters right here in hong kong. let's s check in on markets in asia. the kiwi dollar is at 65 u.s. cents. we haven't seen that since july of 2009. it is at a six year low. indonesia is marking a drop. it is a public holiday in japan. it's all eyes on greece right now. debt relief could be in the cards but not just yet. the german chancellor held out the prospect of such a thing but only after athens agreed to take action on the bailout terms. what it angela merkel have to say? shery: she said she is prepared to discuss the matter which is a big deal because it ignores that debt relief -- it signals debt relief could be coming. greece has to successfully complete the first round of the new bailout deal. take a listen to what exactly she said. >> greece has been granted relief. private creditors were allowed a voluntary debt cut. we can consider such measures again and they are part of
Bloomberg
Mar 8, 2015 7:00pm EDT
>> trading up. china's exports show surprising strength. the surplus hit a record last month. a new relationship. domestic demand lifts japan without any help from the yen. time for change. jonesis to join the dow as its new watch heads to the stores. ," coming tofirst up live from bloomberg's headquarters in hong kong. let's check in on markets this morning. 200ustralia where the asx looks like this. one quarter of 1% down after weak export figures came out of china over the weekend. we've got trade data coming through. australian dollar right now is strengthening, $.77. let's head over to new zealand where we are seeing pressure. 4/10 of wondering percent lower. the kiwi is at $.73. we are counted on to the opens in japan and korea. the nikkei 225 west closed like on thatre than 1% up weaker yen. right now, chicago is pointing the lower open, this after federal reserve -- the specter of the federal reserve raising interest rates foiled a week of milestones on wall street. the u.s. economic recovery help to boost chinese exports last month more than expected, but imports keep falli
Bloomberg
Jul 13, 2014 7:00pm EDT
busy week for boeing and airbus. what lurks inside the iphone? china has security concerns that apple denies. lau, welcome to first up coming to you live from headquarters in hong kong. streaming on your mobile at bloomberg.com. checking in on markets, let's take a look at the first trading day of the week. new zealand is climbing fractionally higher. we are counting to the openings in japan, korea and australia. red, pretty much falling the entire week am a third of 1% down. checking futures, trading in , trading to a higher open. the yen is weakening after strengthening last week as nvestors -- it is a win for germany. they defeated argentina 1-0 to take their fourth world cup title. we're joined live from the mark maracanaium -- the stadium in rio de janeiro.. >> it was a fantastic final. it is great if you are german. it all the way to the final. it was a fantastic final. between both teams. inwas a fantastic goal minute 113. >> were taking live shots right now at the brandenburg gate at the fan mile in germany as they celebrate their first world cup championship, the first time i
Bloomberg
Jun 22, 2015 7:00pm EDT
china's big share tumbled. best stage inthe business school to get the best bang for your buck? check it out. it is on bloomberg.com. we are seeing signs of recovery in china. private survey say they are doing better than what official surveys are showing. china saw a broad-based recovery this quarter thanks to rebounds in retail and property. doubts remain on whether they yourit the 7.6% target is -- this year. says lower demand from china is putting pressure on prices. they expect iron ore will average $49 a ton in the third quarter and fall to $48 in the fourth. the potential lifeline for troubled chinese coke importer winwei disappeared. last month, winsway begin the second chinese company to default on u.s. dollar debt. some parties are still deciding whether to invest, but there is no guarantee a deal will be reached. the pressure is building ever higher on airbag maker takata. the u.s. senate report says the company was aware of quality issues since 2001. takata is quite bad for right now. the report says takata should have known about lapses in quality role. -- quality
Bloomberg
Mar 23, 2014 7:00pm EDT
large jets from china that have a very large range. one of them landed at the wrong airport. it hit the international percent of the air force base. there is another challenge on the way. that is the weather. this was always going to be an issue in that part of the indian ocean. it can be pretty rough in that area. this isave news that forming in the indian ocean. it will make the job of finding its harder still. >> absolutely right. thank you. malaysia's response to flight 370 has drawn widespread criticism here. contradictory messages were replaced by more streamlined operation. it is now declining to comment. haslinda has been following this from the very start that has more frustration for the families and the media. fromose satellite images france may hold information to help solve one of the world's great aviation mysteries. when asked about them, authorities refused to comment, asking reporters treat her to .hat has been issued - >> it does not exist if it is not on camera. >> sorry. sorry. . we just want to know. >> very briefly. >> i think they just released a. >> is at the big
Bloomberg
Nov 1, 2015 6:00pm EST
gears to china. the first economic indicator of the quarter is out and it is signaling further weakness in the manufacturing sector. the initial pmi figures showed contraction for a third consecutive month. it's much more the same story again. >> it is. it's a weakening economy and we have deepening deflationary pressures. fairly weak global demand is feeding into what we are seeing at the factory floor. at october pmi coming in 49.8. as you can see, the third consecutive month of contraction. better than august, the same as september. you can look at this two ways. the third straight contraction below 50. 49.8 is a sign of stabilization from the previous month. it depends on how you want to look at it. of course, we need to get a couple more months and see if we can get back up above 50. most indications are that there is some stimulus in the pipeline. we have had interest rates cut since last september. we have had infrastructure measures to try to stimulate growth in the economy, so some are expecting a little bit of a pickup in the fourth quarter. as we all know, the third quarter w
Bloomberg
Feb 16, 2015 6:00pm EST
announces new rules for migrant workers. hygiene in china back in the spotlight. a hepatitis a outbreak is linked to frozen berries. checking in on markets this morning -- to australia where despite is selling off better-than-expected results. half a percent down, australian dollar is at 77 u.s. cents ahead da when it dropped out to do and a quarter percent. dollar spot weakening. we are counting down to the openings in japan and korea. japanese equity index futures trading as the yen holds near a one-week high against the euro after talks between greece and creditors broke down against the u.s. dollar. we are seeing a slightly weaken. it is that time of year again when the biggest wave of human .igration rumbles into gear in china, millions and millions of people who had home for the spring festival holiday which highlights a huge number of migrant workers and comes as the government announces significant changes in residency laws. it puts an enormous strain on transport. >> do not get on a train during the festival in china or a plane or a bus or a car. the highways are jammed. i would g
Bloomberg
Oct 29, 2015 7:00pm EDT
see how that triggers sentiment today when trading gets underway in korea. let's talk about china. ending one of the most notorious example of state control over citizen's lives, the one child policy. beijing has decided it may have worked too well as the economy faces a shortage of workers and consumers. it is now a two child policy. david is here with the policy. >> certainly a big story. on paper. whether we do see the chinese and prosper, we will see over the next 2-3 years. you will see how busy the hospital wards are. that did not happen the last time they relaxed it in 2013. angie: it was very notable. a lot of people said, a lot of families saying, we cannot afford our kids. david: they have to change the mindset. at that time, the number of couples who were allowed to have more than one kid to, roughly speaking, 11 million couples. only a 10th actually applied for permission. here is what is going to happen. everyone, all couples can now have two kids. they are casting a wider net. the problem that china faces, the leaders recognize this, the one child policy worked too w
Bloomberg
Jun 16, 2015 7:00pm EDT
. our lawmakers going to decide on the china-backed plan, where candidates will be vetted by local elite, or scrap the first chance for a popular election in 2017? to vote is widely expected be voted down. some have no doubts it will fail , but beijing is not backing down, saying if hong kong rejects the proposal, it will be a worrying future for the city and upping their rhetoric. have we seen support for the movement dwindle? a march over the weekend drew thousands, not the tens of thousands that organizers expected. what is the mood? mood in terms of the numbers, we have certainly see the numbers dwindle substantially. but a lot of people are accounting for the weather. the vote will be voted down anyways and it is just tactics at this point. but we talk about how split the city is. you talk about the three polls from local universities. it has been about 44% supporting the measure. 41% say they oppose the measure. if the proposal is rejected, it will lead to further polarization of hong kong. angie: yvonne man, live in hong kong with the latest on the debate that starts today.
Bloomberg
Nov 16, 2014 6:00pm EST
♪ $2 trillion promise. the g-20 vows to boost growth and jobs. the growing concern about china. making the connection, the hong .ong stock link opens today welcome to "first up," coming to you live from hong kong and streaming on mobile and bloomberg.com. happy monday to you. i'm standing in for angie lau. to australia we go. it sent oesterle upon stocks going up there. let's go to new zealand. not much movement either. we are counting down to the open in japan and korea. less than one hour away. let's go to japan right now. futures pointing to a higher open their. closed up 5/10 of 1%. weakening. g-20 leaders have wrapped up their summit in brisbane, promising to create growth and jobs. man onlen is bloomberg's the spot. is live from brisbane. the summit is being seen as a success? >> absolutely. the australian government is congratulating itself on a successful summit. that growth target was raised ever so slightly. the plan now is to add 2.1 percent to global growth by 2018. it's going to be reviewed by the imf, who say the target is possible if the g-20 nation implements th
Bloomberg
Apr 6, 2014 7:00pm EDT
etf's. and the legislative speaker in taiwan says they will review a sete pact with china and off a week of demonstrations. students have occupied the legislature for 20 days. sit-in reflects skepticism over greater economic ties with china. africa has a new number one. nigeria has overtaken south africa as the largest economy on the continent. the change came after nigeria overhauled its gdp calculations, adding previously uncounted industries. the economy is now estimated to be worth nearly $500 billion. the search for the missing malaysian airliner is now focusing on a stretch of ocean th,thwest of earth -- of per where three separate audio signals have been detected. let's go to paul allen in sydney. talking about these acoustic events, what do we know about this? be determined,o as so many things are with this enduring mystery. these three separate events, the chinese ship picked up a kilohertz,f 37.5 exactly the same frequency the black box sends out. on saturday, they detected it for 90 seconds before the signal was disturbed at other ships. -- by other ships. of man-made noi
Bloomberg
Aug 23, 2015 7:00pm EDT
weaker new zealand dollar, on the heels of china concerns. $.56 u.s.. we are counting down to opens in japan, australia, and korea. friday, this was the view from japan. nikkei down almost 3%. check out chicago futures. big differential. it will be a big drop this morning according to futures. strengthening, safety hayden at play. it is the start of a new week of the markets. last week, we saw some of the most turbulent sessions in recent times. there is little to suggest that things have calmed down. david joins us with what you need to know. david: good morning. let's recap what happened on wall street. friday, what we are seeing in asia is reflective of the acceleration of selloff. worst single they dropped for the s&p 500 index. can we get back up? let's talk about this first. at highest since early july, looking at four-month lows. 46%.ix, 47%.iday, since 2011,st pop the height of the european debt crisis. on wall street, that is what you have -- a very bad day. 492 stocks were down, and there was selling pressure towards the close. that is what futures are telling us right now. t
Bloomberg
Jun 14, 2015 7:00pm EDT
trillion out of the market last week. they are concerned about the slowdown in china. they are concerned these games will not last. 6.8 billion, i correct myself. barclays says that moved by foreign investors leaves the chinese market, that is likely to continue with economic indicators failing to impress. take a look at what futures are indicating. profithaps half a bit of at the con -- at hong kong. angie, it looks like the watch for volatility as the new week begins. certainly a record in china but a lot of concern about whether this rally will continue. angie: more than 3000 people turned up for the rally well below the 50,000 expected by organizers. elections offering an from its list of chosen candidates, something that pro-democracy groups oppose. onmakers will debate wednesday. this year's paris air show opens on monday and while boeing and airbus aren't unveiling any brand-new aircraft they are expecting orders to exceed past years. their focus has been improving the efficiency of nature models to allow carriers to carry more seats. expectedd airbus are -- at least $23
Bloomberg
Jun 8, 2014 7:00pm EDT
diversion figures on last month china trade. more questions about the tar 2022 year it investors are nervous about the bidding process. robbie on the dell has dominated again, winning another french open. morning. i am coming to you live from bloomberg's asian headquarters here in hong kong and streaming on your mobile on bloomberg.com. more ups and downs in china. iverocess to -- posit surprise for exports. a bigger surprise for imports. the latest >> tree data that came out. >>if you put everything together, we are looking about the trade plus that since december. exports are fairly decent. probably the trading partners of china. the weaker currencies are helping some of these exporters, providing some relief for these export industries. imports are the problem. this. expected there is the other side of the currency affect. citimists are looking at and macquarrie. rawe is this purchase for materials. there's is ongoing probe in financing, especially and steal some is. it often plays into things like iron ore. there are two ways of looking at the data. tryingwant to see china to
Bloomberg
May 29, 2016 6:00pm EDT
a much bigger rival and through international partnerships with didi and grab. in china, didi claims to have more than 99% of the right -- ride hailing market. they boost more than 300 million users to my completing 1.43 billion rides in 2015. grab dominates in southeast asia with the presence in 30 cities across six countries and a fast-growing motorbike service. meanwhile, gett, which grew at 300% last year dominates in europe. as these startups scramble for supremacy, it is still too early to tell how the ride hailing wars will play out. emily: now to get a sense of how the ride hailing wars are shaping up in southeast asia, i caught up with anthony tan. grab has raved $700 million from investors and has over 50% of the market share in private cars across the core region. take a listen. >> grab is the largest mobile tech platform in southeast asia, we have very localized services. so imagine, we have taxis, cars, and motorbikes. that is right. as you know, motorbikes is, you jump on right behind and it navigates you through the traffic that you would imagine any big city wo
Bloomberg
Feb 21, 2016 6:00pm EST
celebrating a buddhist festival. china's ratio of debt to the size of its economy is expected to keep on climbing. how much longer is this debt going to keep mounting? >> at least seven out of 12 economists expect that to be 2019, up at least until four years from now. 283%is expected to peak at of gdp. party isommunist trying to put a floor on economic expansion. it already is at the slowest in more than two decades,, staying around 6.5%. this, they have to keep stimulus in the economy and that means more borrowing. already we saw last week figures coming out that china's new yuan peaked. billion of loans in january. if you look at aggregate financing, it is already soaring as well. there is a lot of concerns that overhang could last for a long time and have an impact on the overall economy. angie: in the past this has triggered pullback and financial crises for a lot of other nations. >> exactly. in china this continues to go on despite all of those concerns being out there. companies are doing a good job in trying to manage that debt. when it comes to state owned enterprises, that's a
Bloomberg
Jul 31, 2016 7:00pm EDT
mobile. 's plan is the 26th dose of stimulus since 1990. >> amazon aims to capitalize on china's fascination with all things japanese. coming to you live from our u.s. and asia headquarters. betty: i am betty liu in new york. it is sunday evening. we begin with breaking news just crossing the bloomberg from south korea. current account surplus for june coming in wider than the prior month at $12.17 billion. this is after it widened to more than $10 billion in may. we will watch for trade data for july coming out in an hour. pmi later today. we will see how things go. so far, stocks heading south in new zealand. after funollar flat fonterra maintain that milk price. it's still up in the air what the central bank will do. the aussie dollar at $.75. the yen climbing 3% after the boj disappoints. territory today, stocks seeing a pullback today. governor kuroda throwing the ball back into shinzo abe's court. let's go back to our top story in asia. spree, back its buying snapping up assets from club med , but now focused on getting leaner. what is behind this reversal and strategy? >>
Bloomberg
Apr 5, 2015 7:00pm EDT
throughout the asian market. china and australia are closed today. japan is not closed. here is bill gross talking about what he sees in terms of reaction from the fed. >> they want to get off the euro , if only to prove they do not have to stay at zero for a long time. i think this will be a rate hike in 2015, probably now or in august and september. after that, janet yellen has promised she will be very careful. john: that is the reaction from bill gross. if the next figure in april is as weak? what will happen? angie: very interesting. what does it mean. john: april 8 as the beginning of the early -- earnings seasons. alcoa is the first report. going to fall, according to forecast. wednesday, and that is also the last fed meeting. thereafter, we have april 30, the fed will meet. june the 18th, but the crucial one is september the 18th. we will have to see whether they raise rates. it is dependent on earnings and wage growth. angie: that is the forecast by economists, anyway. . thank you, john you can get more on the top stories, including reaction to the u.s. job figures at bloomberg bu
Bloomberg
May 11, 2014 7:00pm EDT
concerns about a slowdown in china? >> quite good, quite great. the finances are the main issues for that. china is in the worst shape since september 2000 12. 40% do see china growth. 9% upbeat. 47 perceived on downbeat. downbeat. china need to adopt "a new cool."" and remain " they must prevent risks and take timely countermeasures. these words must adapt to a new normal came out. this poll is really quite downbeat about china. japan is also a cause for concern. significantly underperforming china is down by 12.5%. china is down by four percent -- 4%. thank seven reporting this week. the concern is with the following stock markets will impact going forward. look at the comparison chart. indicate his significantly underperforming china. china is a concern. so is japan. is main one of the survey the u.s. situation. mario draghi was saying next month it will be taking action. watch out for any ecb member words. it is very crucial in the next few weeks. >> that will give us clues. you noted the japanese banks coming out as well. i want you to stick around. we do have the biggest aches
Bloomberg
Dec 6, 2015 6:00pm EST
old, in with the new. consumer stocks show how china's economy is changing. welcome to "first up," coming to you live from hong kong, streaming on your mobile and bloomberg.com. let's check in on markets in asia for you. first thing this monday morning, thanks for all of you watching around the world, including those of you -- asx is climbing, a weaker australian dollar. asian stocks are poised to rally on the heels of that better than expected jobs number from the u.s. let's head over to new zealand -- we are seeing gains there, and we have a weaker new zealand dollar. decision coming out on thursday. traders are betting on that. becauset over to japan, this was the view on friday. this was before the jobs report, the definitely after ecb's mario draghi disappointed so much. futures after the weekend coming out of the u.s., we've got a weaker yen. let's begin with oil. after an opec meeting that was unusual, chaotic, and ran hours over schedule -- by the end, saudi arabia prevailed. the world's largest oil producer untilins a policy of pump others are squeezed out. the results w
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