asx off this week. a couple of things to watch out for when we do get going, virgin australia announced a first-half loss of $97 million. we are also expecting rio tinto earnings after the close. nikkei futures off about 1/5 of 1%. a quick look at the currencies.

tradingust checking on on the asx. this is what we are seeing.rt 2% when it comes to trading in the first few minutes of the australian session. this is the sixth straight day of losses for the asx, which takes effect to the longest losing streak of october in 2018. just one indication of what we are seeing in the early part of the friday asian session after we had the plummet in u.s. stocks overnight. since as the government says it is in pandemic preparedness moment already. shery: this as we heard the world health organization say we are at a decisive point in the fight against the coronavirus and country should move swiftly. on the economic front, christine at the ecb says she does not need -- does not seem to need for policy response. for joining usch tonight. talk about central bank policy because we saw the ok holding steady and not cutting rates. we have seen these banks trying to use tools outside of interest rates. how effective will those be? >> it is not going to be very effective in actually spurring activity. it could have some mode

that is a big deal because it makes up just under 10% of the asx.ikkei futures are pointing higher by 0.8%. we will have money supply and machine orders. keep an eye on the new zealand dollar, currently hovering above $.64. it is expected to keep the cash rate on hold today at 1%. the aussie and the yen pretty much unchanged. casesmber of coronavirus continues to rise, now standing in more than 43,000. the world health organization have given an official name to it right now. selina wang has the very latest. : we do know have a name for the virus. is called covid-19. you do have the organization hosting a meeting of hundreds of scientists around the world to outline the priorities here. the first vaccine the director general mentioned is at least 18 months away. toy are increasing supply diagnose patients. delay itsset it may purchase of farm products because of the agricultural minister saying the import outlook for savoy would eventually be fulfilled -- for soy would be fulfilled. decrease the impact to the economy, china has been trying to get re

in australia the asx is weaker by 1.5%. coming up with a 70% decline in the first-half net income. we will be talking to the ceo in a while. new zealand is weaker by 1%. look at the s&p futures, weaker by 1.1%. let's get more on the markets. investors continuing to trade -- tread cautiously. david ingles joins us now. it is against the backdrop that korea is what we are watching today and for this week. market opens up, given how australia and new zealand and the futures are trading, i expect to the korean markets to come under pressure, not the least would be samsung. one of their plans -- that alone is enough to put a lot of pressure on the equity markets. the other point i want to make, on the back of the fed expected -- two 25 basis point cuts, the -- the bank of korea has come out with an emergency meeting. sawlast time they met, you two board members dissenting on the ford rate cut. -- four-day cut. it look at the survey, it is split in the middle. slight majority. -- as ofy was taken late last week before the escalat

asx off this week. a couple of things to watch out for when we do get going, virgin australia announced a first-half loss of $97 million. we are also expecting rio tinto earnings after the close. nikkei futures off about 1/5 of 1%. a quick look at the currencies. the aussie dollar did briefly dip below $.66. it is just holding on above that level them. the yen continuing to strengthen. a little bit of a rebound but not much in the 10 year as well. the u.s. centers for disease control and prevention is warning americans to prepare for the coronavirus outbreak at home. >> it is not really a question of if this will happen anymore, but when, and how many people will become infected and of those, how many will develop a more severe or complicated disease. we had been preparing for this threat and to limit the impact on the community for years. emily: to tell us more, abigail doolittle in new york. abigail: another brutal day for the markets. it is a four-day market selloff. it intensified on friday when the

we have a number of asian markets also in correction the nikkei, the kospi, hang seng, asx 200, singapore, thai all in correction following the big tumble the nikkei 225 falling it did come through at 21,000. the shenzhen composite with a pull back. shanghai co shangh shanghai composite down. in korea falling over 2,000 putting it at a six-month low as the number of cases in korea or outside of china jumping more than the number of cases confirmed in china that sending jitters through the asian market hong kong market, we are at correction territory, down about 2.5% on the day. 26,129 all in latest reaction to the coronavirus outbreak i got a chance to sit down with the secretary today and asked him whether or not the losses in the market is an overreaction. this is what he had to say >> the outbreak of the coronavirus caught everybody by surprise initially in china but now the situation in china seem to have been contained but somehow this spread, so going forward in terms of supply chain and consumer spending may be affected. in hong kong, we have been trying very hard to fight this dis

you're seeing the aussie asx off 1.3%. at the open there were no gainers. there are now.ks, some of the worst performers are the energy stocks . chinese oil demand expected to sink. we have got the aussie 10-year yield going to record lows, speaking of things that are sinking. our next guest said true levels and modes of transportation because of the coronavirus are unknown. the real reason is unclear. ,oining us is stephen morrison senior vice president and director. thank you for joining us. i wondered if you could tell us what you know and what we can understand about this virus in terms of its transmissibility, fatality rate and ability to mutate. it is an exceptionally fast-moving story now. i believe that at the end of last week, the consensus began to take hold among the experts that this was approaching a true pandemic. that is the language being used now. there is a sense that the numbers of truly infected within china are grossly underestimated. that they are somewhere around 75,000 as opposed to 14.5 thousand. transmissibility speed, we are not sure what is cau

australia, retail sales number in december, the asx is up by 0.5%. health care outperforming. health care outperforming throughout asia. there is optimism that perhaps there could be some sort of treatment for the coronavirus, although the who has pushed back on those expectations. you are seeing futures holding steady. rally to the s&p 500 an all-time high, gaining more than 3% in the past three sessions. taiwan futures gaining ground after two sessions of gains already. when they traded last, than zero point 7%. this after china injected fromdity after coming back holidays. yesterday, they withdrew funds. it will be crucial to see what they do in a few minutes. we are seeing the offshore yuan holding stronger throughout this week. below that seven level, but we got the fixing and pboc operations in a few minutes. all of that coming up in the next hour. coronavirus may influence central bank decisions expected out of asia this week. these how much ammunition essential banks have, later, we a ceo, taking by a look at the impact of china's tech sector

asx futures pointing higher by .1%. looks like a down day after we saw a weaker close in the u.s., nikkei futures off almost 1.2%. the kospi down .75% and new zealand has been trading for 90 minutes and is weaker. let's get more on what we should be watching as trading gets underway. adam haigh joins us as well as david ingles. , we did see a big surge in u.s. equities last week, but what is going to impact sentiment today? adam: not just u.s. equities. we had this broad-based risk rally throughout the week that petered out friday. you saw a pullback in u.s. equities and treasuries. that is providing the basis of the dampening of risk sentiment going into the asian trading week. there was a bit of news regarding the report from ak showing there are production into it -- production issues at factories around china there the foxconn shenzhen plant, they have told employees they will not restart reduction just yet. there is the ongoing lingering concerns across the chinese economy which continues to be the main thing globa

yuval: the asx system is already in testing. there have been multiple props to the clients.y participants that are testing the system, and currently the project is on track and going according to plan. just wondering as well more broadly in this industry, do you see any major player emerging, like an oracle for blockchain? yuval: i kind of hinted at that earlier, and that is why you are seeing some investors in the lack around, like you saw in the early days of cloud, there were startups that were trying to be the infrastructure providers, but the second that industry started showing there was real merits to it, some of the big tech giants started entering that space and started offering their services. so i do believe at the end of the day, blockchain is a distributive database and will become a commoditized product and an entry of players like samsung, microsoft, that, to me, a very good signal to the market that this is real and going to happen, but i do think that when it comes to providing infrastructure, you will see those players become the key players, where companie

the asx a little bit weaker. we are in the middle of earnings season.hearing from bhp. on the, let's check in first word news. su: please start with a number china,na virus cases in which has topped 70,000 people. to 1770. toll climbing 1933 newvince reported cases. that is in line with a lower trend over the past several days. the total number of fatalities outside of china has risen to five. american was on board the western them cruise ship has tested positive for the coronavirus. this is fanning fears that thousands more could be exposed. the woman was disembarking in cambodia. the cruise ship spent two weeks in limbo, cutting turned away by five different ports before cambodia allowed the ship to birth on friday. the u.s. energy secretary says he is confident russia's gas pump does not have the technology to complete the nord gas line. forcedns last year switzerland's group to abandon laying the undersea's pipes that would take natural gas from siberia to germany. >> i'm really pleased with the reaction of certain companies with regard to the sanct

we take a look at how we are doing in australia, the asx had a pretty shortish start -- sluggish start. magellan financial group leading the way at the moment. let's check in on the first word news. su: the u.s. senate has voted to restrict presidential's power to take military action against iran, at least without approval from congress. eight republicans joined democrats to pass the resolution. it now heads to the house, where it is expected to be approved. the measure was introduced after president trump approved a drone strike that killed iranian general qassem solemani. the president says he will veto the resolution. the u.k.'s economic policy has been thrown into disarray after sajid javid quick as chancellor -- quit as chancellor of the exchequer. he refused prime minister boris johnson's demands to fire his most senior treasury aides. he appointed rishi sunak as the new chancellor. his office says it cannot confirm the budget will go ahead as scheduled on march 11. the u.s. has raised the stakes in its battle with huawei, alleging the chinese company engaged in decades of intel

. >> we did not think about it asx oiting, we thought about helping people make better decisions. thatresp toward that the conser, who was, after all, supposed to be our god, the person whose ecstasy was our very reason for being. and it was closer to getting a cow into a milking stall and extracting as many pails asur possibleg each visit. and that felt a little more but that was the business of amazon. >> amazon has added 880,000 new customers... >> narrator: while bezos was using these insights to bring more and more customers into. amazon.. >> the number of customers who use the wee has increased fourfold... to >> nar there was one thing he hadn't done yet. >> the company's never made a profit. >> that's right. >> now, why... how does that... why... how does that...? >>t seems like a new math, doesn't it? >> it does. >> narrator: bezos would spend years losing money trying to beat his competition, and he convinced investors to go ong with i ne >> of jeff bezos' greatest ability to get walstreet tos accept the fact the firstma 20-some years,n wasn't going to be very profitable. and

on the back of that better-than-expected jobs data, we are not seeing much movement, but still the asx of the session and hitting fresh record highs. but look at japan. after the decline in the yen overnight, we are seeing very solid strength in japanese equities. the nikkei up about 1.5%. the topics moving higher, punching up more than 1%. up 0.5% at thei moment. i do want to dive deeper into the mood in the japanese yen. it was a very brutal session. at one point the worst day in three years. although we see a minor comeback this morning, we do see dollar-yen above 111 for the first time in nine months, and this yellow line is the trendline. move overnight has brought us above that trendline. it will be interesting to see if this means the yen is going to be moving lower from here. back to you. haidi: thank you so much for that. sarah ponczek in new york. it is a busy day for central bankers, expecting that cut from the pboc later as well as the move from bank indonesia. not expected to make a move today, but we are watching for any signaling about regional impact of the coronavirus.

we have had australia up and running now for a little over 30 minutes, and right now, the asx is weakernew zealand is pulling back some of those earlier losses by 2.5%. nikkei futures in positive territory. let's see what happens when we get going in 30 minutes time. of course, japanese markets will be playing catch-up, having been closed on monday for the emperor's birthday. s&p e-minis are in positive territory by .2 5%. we are awaiting china's latest virus numbers as confusion continues in wuhan over quarantine measures and reporting methods. let's get over to tom mackenzie now in beijing. tom, what is the latest? paul, we have this rather extraordinary event yesterday out of the city of wuhan. population 11 million. it is in lockdown, has been for about a month. some of the restrictions were being eased. but only a few hours later, that statement was retracted and this follows, as you rightly said, some confusion we have already seen in the last few weeks about how officials in that city are accounting for the numbers of cases when it comes to infection. it suggests that there is st

we are seeing a little bit of pressure across markets with the asx 200 down.d financials weighing on the market despite the fact that is rising. also hadsurged and we with them lifting the interim dividend payout. kiwi stocks unchanged at the moment. this coming after two sessions of gains in the kiwi dollar holding steady after it led commodity currencies down. nikkei futures higher but this after force essence of losses and coming from a two-week low. we do get the japan trade machine orders later today. u.s. futures higher at the moment after the s&p 500 fell from record highs. we look ahead to the open around asia. david ingles is with us. you are watching currencies for what are we seeing in terms of safe havens and commodity currencies that really fell with oil? david: it's interesting because it brings us back -- i was looking over some of these prices -- it brings us back to what happened in 2018 when the dollar started to go up. back then, it was u.s. exceptionalism, now the u.s. economy outperformed. i bring that up because the dollar index is actual

the asx 200 flat at the moment. we are way down by energy and the tech sector.the japanese yen strengthening and seeing the largest gain in two weeks at the moment, continues to strengthen so that could be a dampener for the stock markets when they come online. let's stay with markets looking at china. david ingles joins us now. interestingly after we saw the spike in volumes, when it comes to the chinese markets, seems volumes have fallen in trading for the fx and bond markets. it is the nature of the market itself. you talk about equity markets, it is dominated by retail investors. you can sit at home and trade. that is what we have seen. especially in the previous week when everything was shot. when it comes to the institutional areas of the market, bonds and effects, falling off a cliff. you look at the averages, we have seen since the reopened and compared to year 12, a good example. we are half those levels. in bonds we are about a third. in both cases we are back to levels seen two years ago. probably not as efficient as it would be. and bnp was out with

utilities and tech leading the gains from the asx 200.tocks, up a quarter percent. we have seen the rbnz hold steady, also indicating there is a no prospect of a rate cut this year. the kiwi dollar really strengthened and jumped the most in about two months. we are watching closely the fx markets as well. when it comes to nikkei futures, the japanese yen holding steady. this after the japanese yeln fet of the weakest in three weeks on growing risk appetite. we have had risk on sentiment across the world. u.s. futures holding steady after u.s. stocks reached record highs again on this session. china stocks may also hit something of a milestone. david ingles joins us now. we are really watching closely whether or not china manages to raise all of the losses post-lunar new year break. how close are we? david: it depends which index you are looking at. if it is the shanghai composite, we are within 2.5%, roughly speaking. about 1% away. generally ahat is relatively good day, but it could come today, it could come tomorrow if the rally continu