from ramin. comment , buyern equity markets ramin: byy or sell?ystically -- by the domestic companies. we go to the cyclical sectors. that is media, autos and television. those are the three sectors and credit that we like. financials we would like based on fundamentals but they are so highly correlated to oil which i do not like because they drown out the fundamentals. that is not what you want at this point. guy: stairway from anything with an oil by. open, we, the market are four minutes away. if you little quirks with to make life -- a few little quirks they can make life interesting. guy: welcome. you are watching "on the move." moments away from the start of european trading. alive? will today's payroll figure change the mind about a hike at the june fed meeting? inflation down under. the aussie dollar drops to an eight-week low after core inflation is likely to reach the bottom of its target this year. a beat at the italian lenders, surging. #out today -- is the worst behind us for the italian banking story? let's tell you what we think wil

we'll go to ramine. good morning.ell us what you're seeing over there. >> very good morning to you. with the u.s. markets having been closed for a public holiday on monday. for tuesday, may 31st, let's look at the opening levels. they are slightly in the negative for both indexes, nikkei and broader topix. we're at the levels we haven't seen since late april. yesterday the nikkei closed up 1.4% helped largely by the weaker yen or stronger dollar, if you will and we'll check key export sectors today, as well with autos, high tech, precision instruments and heavy industrial equipment makers all in big focus. the dollar has risen steadily since janet yellen's speech on saturday when she said a rate hike in the coming months would be appropriate. now many also will be watching the price of crude oil. that's really been a driver of the global markets and crude oil futures wti have dipped to touch after traded over $50 a barrel last we're if you remember but they are now trading a touch below that key level. the opec meetin

back to you. >> ramin, thanks for that update. we'll touch base with you in a few hours. >>> the race is on to develop driverless vehicles, including buses and taxis. japanese government officials say they are going to give the green light to public transport operators aiming to go driverless by 2020. that's the year tokyo hosts the olympic games. the officials say operators will be obliged to take full responsibility in the event of accidents. the companies will also need to have systems that monitor their unmanned vehicles remotely and stop them when problems arise. the officials plan to amend the road traffic law and study other measures. they'll also call on would-be operators to start test runs on roads in special zones designated by the government. >>> virtual reality may be the next big thing in video games. vr technology uses computer graphics to immerse the user in a virtual space. analysts say the market could top $10 billion by the end of the decade. and japanese companies are jockeying for position. nhk world's john le

we'll see how it develops so far. >> ramin, you mentioned the dollar. tell us where some of the currencies are trading now. >> the dollar yen has come back a bit. let's look at the levels now. you can see what i'm talking about. 109.31. janet yellen will speak on friday, which also coincides with a second reading for u.s. first quarter gdp. now anything above the first reading of 0.5% growth would increase investors' expectations for a rake hike sooner rather than later. oil, prices have been a major driver after having hit six-month highs last week. let's also get a quick look at how some of the other asian indexes are trading which are opened now. seoul's is down one-third of a percent and margely in the negative. china markets open in an hour and a half. finally, some focus will be on earnings forecast from the likes of sony for instance later today the electronics and media giants will forecast the profits for the year ending fiscal 2017. it had tell laid the release due to the earthquakes in cthat dam some factories. >> thanks a lot for keeping us

>> ramine, the dollar yen could be discussed at the g 7 meeting this weekend. tell use about the currencies? >> the 02 to 05 dipped below 109 a few times before stocks started trading tuesday morning. many are waiting for clues whether the fed will decide to raise its key rates at the june meeting but analysts say the chance of that happening now is around 4%. now investors would, of course, be more bullish on the dollar if they felt a greater chance of the fed raising rates but so far, that feeling seems to be dwindling. now let's get a quick look at how some of the other indexes open right now across asia pacific is trading in the positive, australia's 200 up just over one-third of a percent. china markets will open in about an hour and a half and despite the weak economic data, the shanghai composite ended monday in the positive as did hong kong. i'll see how they continue in an hour and a half for now back to you. >> sounds good, ramine, keep us up to date. keep us up da to tto date for y report. >>> tourists aren't getting on just to get to their destinati

i am ramin mellegard from the tokyo stock exchange. >>> moving on to other markets in the asia-pacific region. let's look at shanghai. the shanghai composite down by .3%. 2,827. the index posted a fourth straight week of declines, the longest fall in two years, concerns about china's economy persist. malaysia's main index dropping by 1.3%, 1628 the closing number, lowest in three months. country's economy in the first quarter grew at the slowest pace since 2009, exports were weak. seoul's kospi down by .5%. bank of korea held its key interest rate steady. hang seng declining by almost 1% before key economic data from china over the weekend. and the philippines bucking the trend there, up by 1.5%. >>> china's latest economic indicators suggest that continuing weak demand at home is chilling hopes of recovery in the world's second biggest economy. officials at the national bureau of statistics say the producer price index declined by 3.4% year on year in the month of april. that was better than march, but producer inflation remained negative for the 50th consecutive month. that's weighed

we're going to go to ramin. he's at the tokyo stock exchange. how is it looking at the open. >> the nikkei started in the positive. it's dipping into the negative. a lot of investors waiti inin i the u.s. jobs data. the nikkei dipping in the negative. it was up 100 points when it first opened. we're seeing a bit of a negative reaction here. the topix still many the positive for friday, may 6th. invests have been trading cautiously. we did see the dollar regain in ground after falling earlier in the week. that may boost exporters. many market players still on the sidelines. volume might be a little less than intended. commodity prices may also have a say as crude benchmarks really went through a bit of volatility in the three days that markets were closed. industrial metals saw volatility and negative price action as well. >> tell us about the dollar yen. it's really seen some swings. >> exactly. we did see volatility when markets were closed here. the green back hit a 18-month low. 105.50 on tuesday. it has obviously bounced back a touch. u.s. j

we're going to go to ramin. he's at the nhk market office. good morning. what can you tell us? >> very good morning to you. definitely you touched on oil prices there hitting seven-month highs as u.s. inventories were seen to be falling in the world's biggest consumer of oil. also new debt deal for greece seem tolessen concerns as well heading off any further uncertainties over greece debt repayment plans. the nikkei closed high on wednesday. sony was a big focus. shares jumping to the highest level so far this year and the most actively traded on the tokyo stock exchange. the expected group operating profit to rise 2% by march, 2017. that's despite some of the negative impact that it had also mentioned due to the earthquakes where it has image sensor chip operations. more and more people using mobile technology. with greece, a deal also investors looking out for bonds. yields fell not only in greek bonds but periphereal bonds. >> tell us what's going on with the dollar. it really looks like it's pulling back a bit. that's after hitting two-month highs. >> it's below the 110 ye

for that we'll go to ramin. he's at tokyo stock exchange. tell us what you see here in tokyo. >> thank you very much. very good morning to you. focus on the fed minutes there and a pause in the rise in crude oil prices led to hesitancy. let's have a look at how the nikkei and topix kicked off. both indexes well into the positive. we have seen a rally of close to around 80% since oil prices bottomed. a stronger dollar led to pause in crude prices. that's after we saw supply disruptions. a drop in shale oil production in the u.s. and a lot of questions on whether saudi arabia will raise output. >> we saw that rise after the fed minutes. tell us about the key pairs now. it remains to be seen what the fed may do. it looks like many policymakers were tilting, shall we say, towards the june rate hike if economic data warranted. so far labor market, housing and inflation data been heading in the right direction as far as the fed is concerned. that adds to the argument for a rate hike. i want to highlight bond yields. u.s. treasury yields closest ba

good morning, ramin. tell us what you're seeing at the open. >> good morning. extending the gains yesterday from japan as well as wall street. both indexes were up 1.25%. we did see the jump in oil prices. also prospects of debt relief in greece. data out of china yesterday. let's have a look at how the nikkei and topix are kicking off. that's largely backed by a weakening yen. japan finance minister repeatedly talked about possible intervention. still, the yen has this year, in fact risen about 14%. that's up from the beginning of may. that's despite bank of japan policy trying to weaken the yen and introduce negative rates. >> absolutely. in fact, the yen is fallen significantly this week just around 1.7%. where are the key levels now? >> we have seen the yen weaken a touch from levels i was speaking about before. look at it now, 109.13-16. adding to the tensions in the currency market, according to analysts they do not expect any intervention ahead of the g7 meetings. with the euro trading it was a little bit flat. most of the focus on the greek market. the

ramin joins us with the latest. lots to take in today especially with japan's gdp. what are you seeing? a lot of data to take in. you mentioned the gdp. it also seems like good news for the economy is bad news for the markets. the fed may be readjusting its time line with regards to raising of interest rates. we saw increase in industrial production, housing data and consumer prices. all of that as we have seen a rebound this oil prices. the nikkei helped in large part by a weaker yen. let's have a look at the crude levels. u.s. crude stockpiles are expected to fall for a second week in a row. >> all right. on the back of strong inflation numbers out of the u.s., where are some of the currency pairs trading this morning? >> we saw a bit of movement in the dollar yen. we're keeping above 109. 109.09. remains to be see which way the fed will tilt with many still betting it will fnot make any moves at june policy meeting. holding in a bit of a tight range against the yen. it was trading when many believe it will become thick and fast this year. hence the fall back in t

ramin joins us. tell us what you're seeing. >> very good morning to you. al so to speak, for janet yellen speech later today. thael be watching out for the revised gdp data. let's have a look at how the nikkei and topix are kicking off. it did close well off the highs. the focus here today will be dominated by president obama's historic visit to hiroshima later today. many are keeping watch on prime minister abe's point about fiscal spending plans which he made some points during the g7 summit meeting. retreat if the dollar may weigh on sentiment. >> get us up to date on currencies. what's happening with the dollar in. >> the fed is really watching out for a lot of data points, durable goods a little bit weaker. yen 109.67. it's slipping against weaker currencies. fed policy makers have made it clear they'll be looking at data points and judge the timing of a rate hike based on what's appropriate. it includes the second reading of gdp later today. before bond and stock markets wrap up for a long week and janet yellen will give her speech later today. some

ramin has the details on what is happening in tokyo. tell us what you see. >> u.s. market has lost a bit of steam toward the end. we had weaker than expected earnings results. we did see the reversal. investigators will be gauging the rise of the dollar. shares in nissan are down 2%. shares untraded due to a mass of sell orders. i'll keep track of that. shares will be on toyota. net profit was down. it expects a stronger yen to hit profits for 2016 by about 35%. that's based on an assumed dollar yen rate of 105 compared with an average of 120 yen in the year just ended in march. a huge difference there. officials at toyota said the impact of the recent earthquakes is not factored into the forecast. i also want to highlight another negative this time for japanese chip equipment makers and component makers due to, they've signalled slowing growth due to sluggish sales of apple's iphone as well as samsung smart phone that may slow capital investment. >> you mentioned the stronger yen opini yen. give us up to date levels. >> we have seen a shift in the dollar yen. it's

we'll go to ramine. tell us what you're sighing over there. >> thank you very much. definitely a mixed or hesitant reaction from the u.s. markets as you mentioned there ending a little mixed there. we had a rise in the dollar but the fall in crude oil prices. let's see the reaction to that. so we'll see. there is also touch of caution we had the release of the trade figures in china that came in weaker than expected but all and all positive start for the nikkei and topix. you touched on it but the nikkei on monday broke six straight days of losses, which had actually seen it fall around 8.5% in that period. however, with the rise in dollar it helped sentiment among key exporters but an analyst pointed out the dollar remains stubbornly at low levels against the dollar and yen and that may eat into a lot of the profits or earnings reports from japanese companies coming up with earnings reports this week, especially and that may even offset some of the strong sales that we've seen so that's going to be a big focus. >> so taking that into consideration, tell us where the

you now have sub ramins out there, egypt looking, france looking.rhaps effective. others we don't know what's down there. are they going to find these black boxes? >> i have no idea which sub ma means are being deployed. are they military submarines? is i know france -- i hear they're bringing a remotely operated vehicle. not typically something to search with. so we'll have to wait and see which vehicles are actually deploying. >> and richard, of course, and then we have those for the first time. those horrible last words which take on such meaning. it seems so standard, just goodnight. gblt. now, there's nothing to have indicated they would have had any knowledge, whether it was mechanical or terrorism at that point. but a very standard handoff. >> yeah, very standard handoff. the flight profile is absolutely normal. until you get what we now know to be these warnings from the acar system. and these are by far the most important things, erin. these warnings. because they are the jigsaw pieces until we find the plane. they are the jigsaw pieces. >>