let's go to ramine mellegard for what's happening in tokyo this morning. l us? >> it looks like fears over events in ukraine and gaza have not caused any massive selling and we have seen a rebound in shares. let's have a look at how tokyo shares are opening up. 15,361, and the topix also in the positive in the first few minutes of trading. the nikkei saw a bounce on tuesday after hitting a one-week low, coming back from an extended weekend break. some of the optimism is from hopes of corporate earnings. apple, in fact, came out with modest numbers after the markets closed on tuesday. but analysts are hopeful, because the expected release of the latest iphone 6 and a brand new wearable product that apple will be coming out with, investors and market players keenly looking at that sector of markets. i have to add that apple shares traded lower after hours in the markets, because apple's outlook was a little bit lower than market consensus expectations. now, we'll check component makers in japan for further reaction to apple's numbers later this morning. the positi

ramin mellegard there. argentine government officials and u.s. creditors are making last minute efforts to prevent the south american country from defaulting on debts. they are facing a deadline on wednesday. argentina defaulted back in 2001 and has been paying interest to creditors who have agreed to reduce the country's debt obligations. but the country now risks another default. the u.s. supreme court has ruled that argentina should repay u.s. investment funds in full before making any other payments. argentine government officials and u.s. investment fund managers are holding negotiations on the issue through a mediator. the mediator expressed hope the two sides will continue talks but the deadline for making the interest payments is approaching. people in ashlg argentina are becoming increasingly concerned about their country's situation. >> no one will benefit from a default. both sides should put every effort into solving the issue. >> the situation is complicated because both sides are still arguing but they need to find a solution. >> ar

let's go to ramin mellegard for a full update. how are things looking over there? >> a mixed picture, a lot for investors to take in. take a look at the opening levels for today, wednesday, july 16th. and by mixed picture you can see what i'm talking about there. the nikkei is actually marginally in the negative. the broader topix popped into the positive. we'll see how that develops. many were very keen to hear what janet yellen would say in her testimony to congress. on stocks the fed monetary report said the valuations of social media and biotech firms appear to be substantially stretched. the nasdaq, the index that's home to both sectors, biotech firms and media, fell 0.54% on the day. we're also going to be keeping track of how that may affect messaging service provider line which has applied for an ipo which will come later this year. the listing of the free phone and messaging service firm is expected to make the firm worth about $10 billion. a lot of focus on that sector of the market. let's not forget about corporate earnings as well and related news. with