Revealing more about the 10th anniversary iphone, apples most important new product in years. Welcome to daybreak asia. You, thewere showing devastation by Hurricane Irma as it made landfall today in florida. Bring up those pictures again of what it looked like an ft. Myers. Certainly very scary as the storm moves westward. We are tracking the path on our bloomberg here. Hurr , irma taking a different direction, more westward. The severity of the storm is continuing to decline. By monday at 2 00 a. M. , a category one storm. That may be why we have seen various estimates, including one reducing estimates of damages from 200 billion to 48 billions 48 billion. It is a movable feast, isnt it, as we assess that different kinds of damage to property. There are households without power and some may go without power for weeks to come. Some of this infrastructure damage will need to be built from the ground up. We will be talking to a Real Estate Developer with property in miami and get his ta
But the music may pause for a little while. We will hear from malaysia. Does not seem like the party is going on today in tokyo. Stars are aligning for japan. Some say this could resume in the given the fact that we have seen stronger earnings, weaker yen. Kuroda likely to stay in his job next year. That e are some signs perhaps some caution ahead. While we have seen the breadth of this rally match what we have seen postelection after the donald trump win, this red is some of the stocks that are overbought. Greater than 70 in red. We are seeing more than half of the nikkei 225, which is in overbought territory. Green is where we are seeing under bought. We are not seeing much green as of late. Perhaps a region when we are seeing a pullback today. Betty perhaps indeed. Seems like it is the same situation in japan as you might even say in the u. S. , where we have this record run in stocks. People questioning, when does that party end . Certainly a lot more conviction after the snap elec
Rishaad oil prices down by 3 over the last three days. Big falls overnight are having repercussions, in particular for australian markets and the aussie dollar. It may be a bit of a brighter prospect if you are an oil bull in the future. It does suggest that if you look at 2021, prices are likely to be breaking to the upside. Deliveries in the near future having a higher price of those made later on. You could also argue that rising longterm prices show the market is going to the view that high prices are perhaps more sustainable. Again, the caveat is a longerterm. This is the outlook for prices for four years from now that should give greater encouragement to bulls of oil and commodity markets, generally speaking. Action in oil iea talking about the shale revolution, revising down shortterm demand prospects for 2018. In the near term, not a lot of positive catalysts to be found. Concerns over lack of progress on tax reform. Were looking ahead to u. S. Inflation numbers, with the index
We are 30 minutes away from the open in china and hong kong. A down market at the start of this trading week. A lot of event risks on the horizon. We hear from President Trump in of first joint Session Congress speech. We are seeing a stronger yen, weighing down the japanese markets. Lets get straight to Sophie Kamaruddin at the market board for the latest. Asian i down monday for stocks after a weekly gain of. 5 . A lot of event risks on the horizon given trump and yellen due to speak. Gdp datahe lookout for from india, australia, china pmi , Housing Starts and capital spending. Inanese shares focused today. , so setei 225 down. 9 for a fourth day of declines. Some equity movers in focus, toshiba falling 3 , the day to day swings as speculation around its chip unit sale. Friday, it announced it may consider selling a majority stake in its chip unit to a thirdparty, but chipmakers also in the red. In korea, the kospi in the red. Deepening losses. Dram chip price growth has slowed in fe
Can monitor messages, thousands of documents claim agents can hack into Smart Devices. Haidi and on International Womens day, the gender gap has been reduced, but women still earn less than men. Rishaad we do have [speaking simultaneously] rishaad sorry about that. We have trade data coming out in the course of the next couple of hours from china. That should give us a lead as to which way the deficit is heading for the u. S. In particular. It could add to more risk when it comes to transportation trumps protectionist tendencies. Haidi lets take a look at the balance. Looking at strong numbers out of china. We will see if that can give a bit of a list to the fairly lackluster session in asia. Not a lot of drivers at the moment, quite a risk going into the end of the week, and of course i had of the fed meeting next week. Of the fed meeting next week. Singapore, malaysia, taiwan coming on line. Sophie kamaruddin has more. Sophie we are seeing asian markets falling, u. S. Stocks slower,