yvonne: in the meantime, let us look at the market open with sophie kamaruddin. an markets are closed, so will have to see if there is any reaction to the report that china might find samsung and other companies as monopolistic and b find them for their behavior. g7 meeting later this week and next week, and the trump-kim summit as well and decisions from the fed and the ecb. stocks in tokyo has little change, and there is gdp data due from australia. growthp in first quarter is expected supported by household spending. stoxx,looking at the after sliding overnight, it is easing up some of the losses following a report that china offered to purchase u.s. ferment energy goods. we did get a report from. mnuchinng that stephen is pushing for trump to exempt canada from those steel and aluminum tariffs. we saw a pop in the canadian lee is --obat, but whether it canadian lee on the back of that. we will wait to see of that is done. ahead of the opec meeting this month, the u.s. is said to have asked opec to increase production by about $1 million per day. the ceo of ita

was get theood play latest with sophie kamaruddin. seeing asian stocks sliding in seoul as well as in wellington p or do on the way up in sydney and tokyo. we are keeping an eye on oil after the opec deal. it will not change this outlook by 75. we are tracking the lira. the risk coming through does not look to be likely. currency moves away from that five handle. we are keeping an eye on shanghai shares. market territory and we have the yuan trading at 650. they expect further losses. we still have the u.s./china trade spat to contend with. we are keeping an ion indonesia trade data. that is ahead of the central banks policy decision later this week. but it's get a look at cba shares in sydney. this as commonwealth spins off its wealth. they have a new company listed as cfx group. a sell me on the cards -- maybe on the cards. they have named david cohen executive december 1. asand out shares are halted the company is expected to report updated reports. that is what we are keeping an eye on this morning. sophie kamaruddin taking a look

will see how markets are faring so far, let us get the latest from sophie kamaruddin. o days blow from stocks, some stocks seem to be returning. the u.s. futures are pointing slightly higher. and on the agenda, we are keeping an eye on the philippines and thailand. we have great decisions coming up from those economies. as well as the malaysia. take a look at what is going on with oil. commodities have been taking a beating broadly speaking. oil has been holding of with opec tensions rounding up, and a run stating that it will not be increasing output however modest. this index has fallen the most , engages raw materials. day.s had a tough is because of trade overshadowing concerns. we will keep an eye on this today. ramy: thank you so much, sophie kamaruddin come on the market there. asia definitely catches its breath after yesterday's trade panic induced selloff. let us bring in mark cranfield for more. can we expect a bit of a relief on china or will the selloff continue? mark: there was some focus on my interview given yesterday, he appears to be well on top of the

here is sophie kamaruddin.s are looking mixed. at the start of the session in jakarta. elsewhere into tokyo, we are seeing fluctuation in a narrow range for japanese stocks. have south korea off-line for a holiday today. checking in on australian assets, asx 200 up 4/10 of a percent. highlight the canadian dollar moving in the asian thaton on an adp report, steve mnuchin is attempting to get trump to provide canada with an extension -- exemption of the steel and aluminum tariffs. haidi: thank you so much for that. let's get to the first word news with paul allen. paul: thank you. the white house has concerns over a location for next week's summit. it will be in singapore on an island, starting at 9:00 a.m. next tuesday. it has a long track record of hosting top-level international meetings. offer group security. singapore as well also has been long-standing ties with north korea. with thes working chinese government on a smooth travel between hong kong, macau, and the guangdong province. says the e-card id syst

sophie kamaruddin in hong kong. breaking news from bp.e uk's largest electric vehicle charging company. it is called charge master. they are the largest network of public charging points in the country. they have spoken about renewables, he spoke about the changing world environment and electric cars and basically saying the world is still going to need a heck of a lot of oil-based energy to have us get around and drive. they are buying charge master, the uk's largest electric vehicle charging company. thank you. let's talk about masters global. holding their first lateral summit. the meeting is seeking to reverse the dollar at spiral in relations that has been exacerbation -- exacerbated by findings that russia meddled in the 2016 a lit -- election. the place will be announced later today. what will trump and put in be talking about? -- and putin be talking about? we know they will talk this summer. daniel: the big announcement will come, russia is playing this up saying it will be the event of the summer. the u.s. is a bit more some giv

sophie kamaruddin in hong kong. let's get back to the trade story.out the latest developments. we are joined from tokyo by our china economy editor. what can you tell us about the trump administration's new investment reviews? of course, it isn't all about tariffs. there are other threats to this trade spat. reporter: that's right. the trade risks will be bringing out a report on friday looking at had to restrict chinese investment into the u.s. actually, chinese investment to the u.s. has crashed the peak in 2016. was selling off the assets they bought, but the u.s. government is looking to technology companies, and stop what they see as u.s. , whenlogical advantage the chinese companies by a u.s. company and then take the intellectual property. that report is coming out friday. "the wall street journal" reported that it looks like he will recommend companies with 25% or more chinese investment in their holdings will come under those restrictions, and they are reporting export restrictions may also be imposed. not just chinese companies trying to bu

sophie kamaruddin there. let's get more on that. our guest is still with us.engapore, what do you of this move out of emerging-market assets come out of fx? when does it stop? >> it is a great question. asia has underperformed. the one consolation is that it has not then as badly as their counterparts, and that is largely because much of what has been done to asia has been externally inflicted. ,t has not been done by itself political risks in brazil, mexico, south africa and so forth. to that extent, that is the one consolation, but you are right, oil prices have had a bigger impact on india. witharted the year largely the assumption in markets that emerging markets could hold an independent monetary policy and would not necessarily have to follow the fed higher with rate hike stem cells, but that story has changed this year. central banks in asia have been dragged kicking and screaming hiking rates to varying degrees. we have seen the philippines, india, indonesia. my hope is they won't necessarily hike today in indonesia because they have had to back to bac

let us find out what is going on market wise, here is sophie kamaruddin.e mood in jakarta, the stoxx has gained about 1%, and the rupiah is under pressure as well. taking a look elsewhere, looking study.yen, it is looking but we are seeing declines for japanese stocks, and the cost be is off by about a 10th of a percentage, lower for a fourth day. the korean won has stalled after i hit overnight. looking at the yuan, the offshore rate is in for a 12 day of losses, and the pboc set of fix at the weakest level since september. although, it is looking stronger-than-expected, guys. haidi: thank you, that is get the first word news with paul in sydney. paul: haidi, bloomberg has been told that china's is that china is considering whether to been issuance of wants. . that would reduce financing operations for property developers. selling bonds. a popular financing tactic because it didn't require approval. president trump has taken part in a groundbreaking ceremony for foxconn's newest factory. trying to make a case that his economic policies are paying off ahea

sophie kamaruddin. been talking about this rebound, but it was the oil price that overshadowed some of these trade tensions that continue to simmer. is there any relief in sight? >> trade will dictate the direction for markets. given what just mentioned for canada preparing to brace itself for a potential flood of steel imports, given these u.s. tariffs, we are keeping a close eye on the commodities player at the start of the session, so across the region, keep an eye on steel and china. in koreast dealmaker also on the radar. market sentiment continues to with her around the metal complex. i want to highlight this on the terminal. the aussie tracking the weakness we has seen. .t extended its bear market the metal fell for a ninth straight session, the longest 2015. losses since nickel also to give up ground in london, but it's the year's best metal, thriving while others have been floundering. the yellow line, nickel up 15%. it's getting a boost from supplies. it's the go to metal to gain exposure to t

let's get the first word news with sophie kamaruddin.idina says it all trade agreements the u.s. if the trump administration pushes ahead with tariffs. it came after the commerce secretary flew to china to talk abtrade talks, and as they prepare for the g7 summit in canada. the u.s. has warned north korea they will relieve sanctions when they move toward denuclearization. james mattis met counterparts from south korea and ahead of next week's potential summit. he expects a rocky road ahead and insist the wests mus remain -- tha insists the west must remain firm. receive korea will relief only when it demonstrates a verifiable and irreversible step toward denuclearization. new populist's government is prepared for one more hurdle before trying to overhaul the european union rules and the established order. a confidence vote in both houses of parliament. approval will be sought this week for the 18 member cabinet of the new prime minister, a lot less the -- a law professor with no political experience. parties hold a majority in both house

let's get the latest with sophie kamaruddin. steam, joining japan, the kospi up -- off .4%. this was sparked by moody's upgrading of the credit rating in the first time in 13 years. that could help lift the mood for -- mood for chip stocks. see good demand continuing thanks to demand from customers such as carmaker's, but that is not enough to lift the movers has done and others. samsung and others. the second week reading this data iner the job february. that is what we are paying attention to have is a leading indicator for training. checking the korean won, much weaker, retreating from the 11 .05.t -- 11 ramsey health care funding the most in 17 years after cutting its earnings, guidance and announcing [indiscernible] on its u.k. operations. thank you so much, checking our asian markets. president trump is renegotiating trade deals left and right but concern is mounting about the impact of his threat to impose tariffs on additional $200 billion of chinese imports. tom mackenzie joining us. does this signal a change of stance f

manus: thank you very much for the roundup there from hong kong, sophie kamaruddin.ald trump's threat to impose tariffs on another $200 billion of chinese imports could take away as much as half a percentage from the nation's economic growth. the bank of china governor pledged to use monetary policy to comprehensively support the economy. that is go to tom mackenzie who is in beijing. good to see you this morning, tom. a very small from the pboc. what exactly does this tell us about the level of concern about the amongst china's policymakers? tom: it is significant that he came out and made these comments at all. as you said, it is a message of, don't panic. that the market moves yesterday and today were sentiment driven, that investors should be rational. saying that the pboc has the tools at it disposal to protect the markets and the economy from the continuing trade headwinds. that the pbocay putting liquidity into the economy, the most liquidity in the month of june that we have seen since december of 2016. it highlights that steps they are taking. there are also

looking at foxconn and these markets in shanghai and hong kong, here is sophie kamaruddin.om outside the window is reflected in markets. set for the first drop in seven days. on the mainland, shanghai stocks the benchmarkut could be set for the first weekly rise in three. chinese stocks are looking cheap compared to emerging peers. the line and white is the shanghai composite. the forward p/e ratio has dropped 11.5 to 13.5 in january. goldman saying load up on chinese stocks with factors like growth and the msci inclusion providing tailwinds. equities,o chinese the risk from rising debt defaults is looking limited as regulators want to avoid major disruption to the market, but volatility likely to remain as more defaults are likely on the horizon. policy have spurred on some about borrowing with the recent measures. checking in on suppliers in china for zte given it may resume business, highlighting one company that receives 46% of its revenue from zte. that stock jumping 8%. jeffries expecting zte may be in business next week and has cut its target. checking in on foxconn

let's take a look at what we have in store for the china open with sophie kamaruddin. phie: some swings moving higher but a loss could be anticipated in shanghai despite a rrr cut. plus, the treasury is reportedly planning more curves than chinese investment in industries. zte in the spotlight as it nears the final hurdle. they've reportedly paid the $1 billion fine. it has been a roller coaster ride, zte shares down 54%. we are keeping a close eye on the offshore. set for its longest losing streak since 2016. that's where the u.s. china trade spat still very much in view. that could continue unless the daily fixed income comes up lower-than-expected today. rishaad: let's get more on this china rrr cut. billion inike $108 liquidity. stephen engle is here. do you have an idea with the pboc's goals are here? thinking it was going to happen last friday and it came late on a sunday. it goes into effect july 5. it's a very targeted injection of liquidities. you said hundred $8 billion, 700 billion yuan. you're looking at the top banks of the big five, plus about 12 joint sto

let's get to sophie kamaruddin. we are seeing more than the weather. this means for the markets, but it is like -- [speaking simultaneously] sophie: red flags being thrown up over the em space, getting stocks in currencies set up for the worst in september 2016. the yuan is in the spotlight after losing 3% over two weeks. that raises the risk of trump reviving accusations of currency manipulation. so the yuan bears may be in here for the long haul. see this chart here. hsbc saying it is no longer totally controlled and after the turmoil settles down, 640 might be a fight but for the note yuan volatility is across the space. morgan stanley saying that em is in the danger space. a method -- ms has lowered its target for the index for 1000. that is the line in red from 1160. that has given the pace of tightening, the rule of global growth outside the u.s., and the u.s. china trade. kathleen: a lot of forces at once, but let's look at the tariffs. the levies on auto imports seeing many casualties and what do you think? we have a new report, one that tariff

sophie kamaruddin, thank you for checking the markets.he imf is throwing a lifeline to argentina. another emerging market economy whose currency has been pummeled, as traders react to inflation, rising budget deficits, and the certainty of more federal rate hikes. our global economics and policy editor kathleen hays is here. what is true in this argentine a deal with the imf? : the currency is just getting destroyed. this is a $50 billion standby arrangement to help restore investor confidence at a time when the currency has been pummeled, when rates have had to be pushed through the roof, and our bloomberg news story says it is supposed to last three years. depending on how much they have to tap, it could be one of the biggest imf deals of all-time. you can see how serious the situation has gotten. has agreed to set new targets for inflation and their fiscal deficit, but let's look at a bloomberg chart now. rate hikes, remember? it was just a month or so ago. they failed to stop the climb of the peso. you can see the blue line. way up he

we will get to sophie kamaruddin in a moment for a look at the stoxx.s us few moments. the target for the hang seng index, and again, it is about 18% down from where we were in january. the fixing from the pboc, if you onk at that conversation whether or not beijing is using it as a tool in the trade negotiations, not really, they have fixed it stronger, but it could also be a function of the market, pushing the currency close.into the we are a few minutes away from the market open, and sophie will tell us whether or not we are poised for a bear market. that looks like that could beat what happens. at a bunchke a look of losses over the course of these few months, the shanghai has come down about 20.9% since hitting the high in general, loss of $1.7 trillion since january. when it comes to the biggest drag, petrochina, soft con industrial, icbc and others those. icbc and extending its decline in hong kong, the stock has seen the worst ever loss on record in terms of the losing streak. tos as they were seen as not do much to help boost earnings for chine