and for petrochina, it's almost 3 billion.rim picture of the world. everywhere — middle east, us, uk — we're getting more and more carbon out of the ground instead of leaving it. the german research shows almost every energy company is planning new oil and gas fields. there is a huge gap between what the countries of the world have promised and what is consistent with 1.5. so there's a huge gap between them. the reality is probably that the 1.5 will not be possible. so, the problem is real, but is cop28 capable of finding a solution? the declarations that will come out of cop, to be honest, there'll be an enormous amount of arguing over the wording. i don't personally find that so significant. what matters is what actions flow out of that wording and what the governments go back and actually start doing at home. the pace is very slow in order to reach our climate targets. is it too slow? it is far too slow. 2023 is expected to be the hottest year on record. the devastation of climate change will be hard to stop if we remain re

we have copies like petrochina moving to the upside. on this rally in the oil price that saw brent crude down 0.25%. but maybe we will see a struggle for more upward traction. we have opec+ very much in the mix here. the demand side of the equation is not as robust. we have geopolitical risk premiums easing, and china's deflationary pressures have been worsening as well. looking at china international capital corporation, this stock up 9% down to merger speculation surrounding this. volume jumping more than five times the 20-day average. china galaxy security said they have no plans to merge with cicc. that denial being damped by the moves we are seeing. haslinda: trepidation as we await cpi data out of the u.s. the fed says it is data dependent month on month. the cpi print will probably shape what the fed does next. in the overall market, positive sentiment, msci asia-pacific in positive territory. dollar strength means asian currencies under pressure. take a look in terms of the yuan and the yen. turkish lira also under pressure, dow

petrochina trading down by 1%, petroleum trading in negative territory.at this point in time. we are watching property plays, country garden in negative territory. so much as set about the extension of unsecured loans. funny more ahead, keep it here with us. this is bloomberg. ♪ >> welcome back. the china markets are just heading to lunch. the fragile economic recovery in china weighing on sentiment. property as well as banks in full play. we have the property and banks in focus, the move to get banks -- property plays could -- shanghai composite up 0.1%. we have that stronger fixed to support the currency. the question is how long can that be sustained? china's currency also benefiting from that dollar weakening for a fourth day. the hang seng in negative territory down 0.5%. hstech among the losers. it is in negative territory along with the property index. trepidation when it comes to that market. concerns about default and the extension of that unsecured loans impacting sentiment three days in a row. on the flipside we have the nikkei two to five comi