First wave of the coronavirus pandemic. Austria is doing well as well. Are seeing the dollar at levels that we have not seen for Something Like two years. The falls in the dollar taking place overnight. Yenre seeing the japanese clamber up as well, reaching the 104 level. 103 yen. Terry gou. That is the current position. Kong is declining just a fraction at the moment. That is where we are without one. That is where markets are standing. Haslinda. Lets get back to our top story. President trump has attacked the credibility of the election, challenging counts and nevada, pennsylvania, georgia, and michigan. Speaking at the white house, the president made several claims and said that the election is being stolen from him. We will not allow the corruption to still this election or any election in that matter. We cannot allow anyone to silence our voters. Haslinda joe biden is urging patience and saying that he is no doubt heading to victory, in an election that hinges on seven states. Mr.
Washington has been demanding transparency and threatening to delist mainland companies. Australia is ramping up tensions with its top partner. You a quick get track of the markets. This after we saw another record high for u. S. Equities. The s p 500 and nasdaq composite soaring to another record high for a fourth consecutive session. The s p gaining ground for five sessions. Tech and communication stocks leading the gains. We are up about 55 since the march lows. We had some positive data. The u. S. July durable goods orders meeting estimates. All of that boosting optimism that the fed will keep Monetary Policy loose. With the dollar weakened, due to the strongerthanexpected eco , take a look at what oil is doing. It is gaining ground. About 43 per barrel. In around five months, the highest level. We have hurricane laura. More than 80 of oil output and nearly 3 Million Barrels have been shut down in the gulf of mexico. Haidi continuing to watch the oil patch for those disruptions. Le
Mondays losses on the dow eclipse the first day of the wall street crash in the great depression, as the ceo of nasdaq says it is critically important to keep markets open. Macron callsuel for unity in the battle against the coronavirus. The e. U. Closes its borders, as im a trump admits the u. S. Could enter a recession. Unknown, volkswagen says the economic fallout from the pandemic is impossible to predict, as car plants across europe are shut down. Anna good morning everybody. A grizzly monday on wall street following a 100 basis point cut from the fed after an emergency meeting, the dow fell almost 13 , the biggest plunge since 1987. Oil hit its lowest level in over four years. President trump says the coronavirus may cause economic disruption against the summer and it could send the u. S. Economy into recession. Pointing, u. S. Futures up and european features also pointing to gains. The s p has fallen or risen by 4 last six days, an incredible record of volatility. And, lets loo
Hong kong protests take a violent turn. Police fire tear gas and pepper spray and the government condemns vandalism. Shery a quick check of how the markets closed in the u. S. The u. S. S p 500 closing in a record for the first time in 10 days. Chipmakers leading the gains. The Semiconductor Index closing at a three week high after President Trump announced in easing on that band on tech giant huawei. We have the dowd gaining 4 10 of 1 but industrial shares did underperform the bottom market. We have the u. S. Ism manufacturing gauge showing the orders stall the last month and that is coming on the back of factory reports across the world showing weakness in the Manufacturing Sector on the particular sector of the market. The nasdaq gained 1 in u. S. Futures at the moment unchanged. We will see how we will set up for the markets in asia. On sentimentk seems to be persisting so far. We have new zealand trading in the past couple of minutes, up about 1 5 of 1 . Futures and city pointing
Anna edwards. Were coming live to you from london. Lets talk about the asian section session right now. It really tells you how the story is going on which is that the shanghai composite has lost all of the gains that it has made since the start of this year. Back to where we started. The picture is much broader in terms of what is happening. Lastly, u. S. Stocks ended the end of the week the lowest in four years. Are witnessinge in asia the biggest drop in asian share since 2030. With that as the broad equity picture, lets get over to our reporter in asia. Lets go to david who has all of the details for us in hong kong. Absolutely brutal session in asia. It is something that we have not seen in watch wrote years. You mentioned the worst since 2013. In the last few minutes, things have gotten a little bit worse. A regional benchmark down about 4 . It tells you something. The outperform is down to present that is malaysia. Your have to look at volume. Very heavy. A lot of these stock pr