asia reporter nancy hungerford live in singapore. n correspondent willem marx is standing by in london. let's kick it off with nancy in singapore and that big plunge in the nikkei overnight >> that's right. you're talking about the good, the bad, this would be ugly for the jach thepanese market. the nikkei 225 off 3.7%. this is a seven-month low for the index. we did see an uptick in the yen as part of the safe haven trade. we saw weakness in the big tech names. a lot of the chip names and the semiconductor space as well. that carried over into the session in japan and in south korea as well. you're looking at the kospi off 1.6% this is significant because the south korean market is now in bear market territory. we saw samsung weigh to the down side along with some of those semiconductors you will see one big market in the green, that's the shanghai it was a late day rebound. after the lunch break we saw some buying but altogether it was flat there is optimism that the government could come through with more support especially for the

nancy hungerford spoke to one of the best known bond market participants earlier today, that's mohamed el-erian, who was at the barclays asia forum in singapore. he predicted that u.s. treasury yields will actually continue to rise >> the fed continues to march up the yield curve -- to march up short-term interest rates. the fed continues to gradually reduce its balance sheet and it has not derailed the u.s. economy in any way if anything, the u.s. economy is building up momentum the problem is the rest of the world is lagging so you get divergence in economic performance you get dispersion in asset prices this morning the differential between ten-year treasuries and bund was 271 basis points. most people did not think it could go above 220 it continues to go up >> that's an interesting one i wonder if our producers can bring up a chart of that, between the bund and the ten-year treasury yield. i wonder what this means for the ecb. >> it means a stronger dollar. i think people want to fade the dollar strength too early. people want to fade all sorts of differentials, it's too early. u.

here's what he told cnbc's nancy hungerford >> we should be in space within weeks, not months.n space with myself in months not years >> branson also said 8 out of 10 people would love to go to space if they could afford it. >> i heard his comments. great interview. do you think it's 80% of people -- if you surveyed 80% of random people, do you think they would want to go >> i would >> i know you would. >> what they eat up there, dried stuff. >> like our cafeteria. >> netflix headed to new mexico. the streaming giant is going to purchase a huge new studio in albuquerque. this will allow netflix to bring $1 billion in production to the area. >>> there's nothing taylor swift fans won't do for her including registering to vote. in the 24 hours following swift's rare instagram vote message, registration has gone up >> she has an impassioned fan base put it that way. >> i'm a big taylor swift fan. are they swiftees? is there a name? >> swiftee >> there's beliebers >> >>> ever want to live like hahn sell a hansel and gretel? without the wicked witch booking.com is making your dream a

julianna tatelbaum is in london with the european trade, but let's start with nancy hungerford live iningapore with the latest out of asia. it was a rough session there >> it was, indeed. we never had a chance to get the relief you saw on wall street. it wasn't meant to be this way when we woke up in asia we were expecting a bounce after the move you saw yes, the nikkei 225 did kick off in positive reversing those gains and closing lower. a lot of tech pain canon was weighing to the down side after disappointing earnings guidance. let's bring your attention to the chinese markets ending in the negative territory there was concern about weakness in the yuan. let's check the yuan rates you were talking to boris schlossberg about this earlier there was an improvement at one point the dollar was making gains at close to 1.2%. as we stand, we're at 6.920. we had officials in beijing coming out fighting once again we heard from the chinese premiere saying there's no intention to de-value the currency the pobc vice governor tried to play down fear the over the weakening currency he insisting

with the asian trade, nancy hungerford in singapore. , nancy. >> hi, wilfred that wild ride on wall street you were talking about, it appears investors here are taking it in stride, even though we had a negative open for the nikkei 225, but a different story by the close this 1.5% increase for the japanese market is the best increase we've seen in 2 1/2 months that gives an indication of how rough things have been out here. we saw big moves to the upside in part due to the rebound on chinese markets. both the shanghai and the shenzhen are up by 1% here this came as regulators indicated once fwan they're willing willing to take steps to calm market jitters many investor remain nervous about the ongoing trade tensions between the u.s. and china look at the hang seng, it is off 0.9% the worst level since may of 2017 so good news here, but rather tentative increases at this stage wilfred? >> thank you very much for that. let's turn to the other big story in asia, trade the u.s. reportedly working up new tariffs on china if talks collapse bet

. >> nancy hungerford live in beijing. currency, nancy, thank you very much. >>> let's turn back to state side on this monday morning and dig more into interest rates versus stock story stocks falling last week as bond yields surprised a lot of people despite higher in a couple of days joining us is dan rood we need your steady hand today are you afraid of higher interest rates >> no, because rates are rising and there's positive growth in the united states. i think the upcoming earnings season is going to be very good. stocks are traditionally weak seasonally this time of the year so it doesn't surprise me that we're seeing some weakness we're also right in front of earnings season. there's nothing companies can say to counter individual moves. >> the bears would say that higher rates if anything risk -- two big risks. number one, you slow the economy. number two, it needs to bring the multiple down for the stock market now you're competing with rates. you've also got the cost of funding which should bring down valuations.

slight gains and at least it's not multi percentage points drop let's kick off the action with nancy hungerfordive in our singapore newsroom for you nancy? >> hi, brian what i can tell you is just in the last few hours this story did change we thought we were looking at a bigger rebound in asia and momentum faded in the afternoon session. we did get a positive close for the shanghai composite but just bare barely at one point this index was up more than 1% we saw strength in the financial sector, some of the banks with earnings in focus there. also some bargain hunting going on with expectations that we'll get more monetary stimulus support and liquidity support. the nikkei 225 finishes higher by 0.4%. you can see a clear amount of red on this board behind me. the south korean market struggling to hold on to gains earlier we saw some big chip names under pressure for the south korean market. you can see the hong kong market is under pressure. what started off as optimism in the morning changed throughout the afternoon. >> nancy, thank you very much. >>> let's shift gears and go to europe we hav

we'll start with nancy hungerford in singapore with the action in asia nancy?reporter: hi there, dom after a tough week last week not much improvement today two major markets in positive territory in hong kong and australia. elsewhere, a lot of the weakness concentrated on main land china. shenzhen up around 2%. we should note that over in japan the nikkei 225 is lower. as we felt the momentum, the nikkei 225 and the kospi picked up moves to the down side. part of the story is due to the weak industrial profit data. concern over the industrial sector in china. traders continue to keep an eye what is going on with china's currency authorities came out tried to resure the market the fact that had he had any tools. it didn't do much for the currency in fact, twooe felt weekend. that has been sentiment. main land markets are already out. >> nancy, what is driving the action there in main land china? what's the concern over there? is it still the idea that trade is the issue is it the idea that trade is slowing down why is that main land market doing so much damage

. >> nancy hungerford live in sing ga for jomana versace is live in london >> the picture in europe is much prettier. we have the stock trading at 22 month lows let's start with xetra dax through 12,000 level that seems like a long time ago. we had developments over the weekend with the sister party losing a number much seats in the bavarian election. people want to speculate what that means for merkel's tenure we are seeing a raise the market was anticipating an ipo, cepsa they announced they are withdrawing their intention to do this market ipo italy again, ftse mib continues to be a focus of ours down 1/10 of a percent finally u.k. also political. there did you. back to you guys. >> jomana versace, thank you >>> let's bring in j.j. kinehan, key strategist at t.d. ameritrade j.j., you deal with traders all the time t.d. ameritrade's platform, think or swim, all of those deal with different views they all come together this is the market with the kinds of weakness that we were seeing. >> it's interesting, dom, as we talk to our clients. seen a lot of them this weekend. besides that, w

hong kong stocks up just over 2% let's get right now to our own nancy hungerford in singapore with theest on china's big rally. >> here's something we haven't shown you in a long time a 4% jump for the shanghai composite. overall chinese stock markets enjoyed their best day in three years today. that was led by the blue chips take a look here the csi 300 up 4.3%. overall the tech heavy shenzhen which has been hit hard was higher by almost 5%. this markets the second straight day of gains for stocks on the mainland all as government authorities have really come out in force pledging to do more to shore up confidence. we've seen comments from the pboc advisor today saying that tax cuts next year could amount to some 1% of gdp. all of this comes after regulators on friday promised to make reforms for securities markets. we've heard comments about providing apple liquidity. so altogether if you consider that weak gdp we had out on friday for china, officials in beijing looked at the reaction in the markets they saw how worried people were and now we have beijing sending a very clear messag

the tech sector there if you want to hear about action in another part of the world, that's nancy hungerford joining us from singapore. what have we seen in asia as well >> it's not pretty all day we've been watching big moves to the down side, but one recovery story to show you, that's the shanghai composite. it's barely in positive territory. closing out the session about an hour ago late-day rebound we saw here there was momentum in the property sector. it is hoped we will see more stimulus coming out of beijing, so that did lift the market here the shenzhen was still off in negative territory, but considering what we saw el where elsewhere in the market, not as badly. the south korean market entered bear market territory today. we saw big moves to the down side for the chip names. the nikkei 225 off 3.7%. this is about a seven-month low for the nikkei 225 not an easy day there. the moves on the asx 200, the australian market went into correction territory it was off 2.8%. one bright spot was in some of the gold miners in australia back to you for now. >> thank you very much for that. >>>

julianna tatelbaum is in europe, let's begin with nancy hungerford and the asia trade. >> hi, brian that'sight a sharp selloff across the region very different story than what we brought you yesterday there was so much hope around that china-led rebound yesterday, that sharp two-session rally. that's starting to fade. look at what happened in the mainland markets the shenzhen off 2%. the shanghai composite off more than 2%. that's not all look at the hong kong market it was lower by 3% so significant moves i should point out for the south korean market, heavy selling this market ended at a 19-month low. it wasn't just about south korea and china today. a lot of attention around the japanese market. the nikkei 225 off 2.7%. this is a two-month low. i will say as part of the shift in risk appetite we did see the yen catch a bid moving stronger against the dollar in the neighborhood of 0.5% yen strength doesn't tend to spell good news for the nikkei 225, especially the big exporters there. we did get disappointing news on the earnings front as well for anyone who thought that rally out of chi

let's go to nancy hungerford for more a couple of key indice there's were down. we are marching into 2% territory for this trading session. >> no surprise investors won't find relief in what's happened here on the asia session look at these moves. we are looking at losses of more than 2% for the shanghai the shenzhen off 2%. both markets did see gains of 4% the biggest one-day increase we had seen in almost three years not erasing those gains, especially when you add on the gains we had on friday you can see some of that optimism around government support out of beijing is starting to fade today on the session. the hang seng just closing about 20 minutes ago it closed lower by 3%. today a lot of attention was around the japanese market look at the nikkei 225 it's off about 2.7%, a two-month low here as part of this shift in risk appetite we did see the yen supported that weighs on the equity market in japan keep an eye on the action here tomorrow 2.7% at a two-month low is nothing to write off here. the kospi at a 19-month low going back to the action in japan fo