Policymakersold that you can follow me on twitter. Dont forget to include trendingbusiness. I divided Federal Reserve unshaved, but signaling a rate likely before the end of the year. Straighte feds sixth hold in the biggest sign yet. Three out of 12 or four a quarter present policy increase. Janet yellen downplayed the differences in opinions. We are trying to understand some difficult issues. There is less disagreement among participants in the committees then you might think of to speeches and commentary. A nice rally shaping up, chinese and hong kong underway in 30 minutes. Singapore, taiwan, and malaysia coming online. Lets have a look at how things are shaping up this morning. Sherri positive sentiment filtering through the markets. Stocks, excluding japan, rowling for six consecutive sessions. Given how surprising Global Equities have surged after the fed delayed rate hikes. The kospi up more than 1 . The sx gaining. 8 for a third consecutive session. Despiteand gaining. 5 the fact that the rbnz left the rate unchanged. Does this mean there are more rate cuts to come in the near future . 5 , the jobless rate of 3. 9 5 , slightly below estimates. Of moves and all markets across asia because the fed is delaying goes rate hikes and delaying expectations of a rate hike, and how that is playing into the dollar. The dollar has taken a hit. Itss now on course for worst annual performance and four years, and does the dollar loses ground, emergingmarket currencies gaining. The south korean won up 1. 5 . The japanese yen gaining for a fourth consecutive session. Take a look at futures in the Chinese Market. Futures unchanged in china. Not a lot of movement up,. 5 . Hshares losing ground a little bit. I will be back in half an hour with the Chinese Market open. You have the dollar undoing all the good work of the boj yesterday. Rba governor is taking his first Public Engagement this morning, speaking to the parliamentary economic committee. Paul allen has been watching these proceedings. What did he have to say . Inflation has been a major focus of this testimony. It is weak inflation that was the result of the two cuts to the cash right so far this year, taking it to that record low 1. 5 . Targetg to the inflation between 2 and 3 , currently inflation is well below that. Ailip lowe said he is proponent of flexible targeting, not keeping it in that tight, narrow range. Here is what he had to say. We have not been inflation nutters. We have had a balanced perspective, recognizing some variability is inevitable and appropriate. The rba is not a bunch of inflation nutters. That is reassuring. They had some other things to say, particularly china, not sing a major interruption to growth there, but some concern over the quality of debt. If we look at the australian dollars since he started speaking, it is back to where it was really. He said a Lower Exchange rate would be helpful or australia, but in terms of broader policy options, even though the cash rate is 1. 5 percent, he said the rba is not running out of policy options and we are unlikely to see unconventional measures. That testimony due to run for another 90 minutes yet. We appreciate you taking a look at that for us. Paul allen in sydney. Lets look at some other stories. No surprise from the rbnz either. Juliette no, preparing the markets for further rate cuts despite leaving the cash rate on hold at 2 . Governor Graham Willis says easing will be needed to boost inflation in new zealand even as the economy grows at one of the fastest paces in the developed world. Record low borrowing costs have fueled a housing boom with growth rising 3. 6 to june. The strong kiwi is keeping inflation at the bottom end of the rbnz target band. They key we fell flatly sense they announced they would leave a rates on hold, but has climbed steadily since january. Speaking of the stubbornly high fronterra is patting itself on the back with an earnings climb of 65 . Revenue however was down by 9 . Terra has cut jobs and sold assets to strengthen its balance sheet. Shares down by. 2 in wellington. The cheek executive told daybreak asia that he is proud of the overall numbers. Looking at our results, looking back to 2016, extremely strong results in quite a difficult market environment with a geopolitical issues, lower Commodity Prices across the board, strong kiwi dollar, which is not in our favor, so really outstanding performance. Juliette chinas dalian wanda looks to team up with sony on movie projects. Havereement could cooperation in other areas like marketing. Wanda is controlled by wang jianlin and the Worlds LargestMovie Theater owner and actively expanding its entertainment business this year. The deal would be a boost for sony, allowing it greater access to the lucrative china market. Japan closed today, but sony shares up by 1. 5 on wednesday. Haidi thank you. Hanjin shares surging in the session today. 22 after its largest shareholder korean air on a loan of 50 million. How exactly does this funding help hanjin . Well, it will help because that money will be used to help unload cargo from ships that are stranded in various parts of the world right now. Facesggest problem hanjin is that a lot of cargo is not able to unload because they dont have the money to pay the port operators. So this will help hanjin speed up some of the cargo that is stock imports around the world. This going to resolve the companys troubles that . Troubles though . Help the would just immediate problem of cargo unloading. The court told us earlier this week that those vessels that are stranded, most of them are actually chartered vessels, and to court had urged hanjin return those vessels. As long as those vessels are within the operating area, it is costing them 2 million per day if those vessels are not return, so it will help to extinguish the immediate fire that they are facing, but whether we talk about the survival of the company, that is another matter. Thats right. Huge challenges ahead for hanjin despite todays rally. Still ahead on trending tourists, a chinese packing more than the essentials. Why questions are being raised over the countrys capital outflows. We will hear from the ceo and euronext. Rom this is bloomberg. Haidi a quick check of the latest headlines. Stepping up its presence in the auto sector, looking for stakes in maclaren and an electric motorbike start up in san francisco. We are told that apple is more likely to make a large investment in maclaren rather than buy it outright. Would likely release an Autonomous Car by 2020. The introduction of amazons new photo Printer Service sent shutterfly falling 14 . It plans card and calendar option soon. That announcement triggering shutterflys a good single day decline since 2000. Chinas biggest coproducer set to raise output in a government effort coordinate production and stabilize prices. May increased output by 3 Million Metric Tons this month. L is on the rebound with consumers concerned over the sharp increase in prices. Uks decision three months ago to leave the European Union sparked a volatility of days in capital markets. Things have settled down since then, but questions remain and a lot of uncertainty. Largest of europes financial groups says brexit makes your more relevant and grand scheme of things. Joining me now is euronexts chairman and ceo. Thank you for coming on. You think despite volatility and could turn theis brexit situation into an advantage for european markets. Brexit has fundamentally changed the big picture. We are in a situation where political risks and volatilities are on the side of the uk. Europekreward ratio for , Continental Europe in particular, is improving, so we are preserving a reallocation of assets, which exactly as you have said is making Continental Europe and the eurozone more relevant. , 71 e the brexit decision of the gdp of the European Union was produced within the eurozone. 86 percent of the gdp of the European Union is produced when the eurozone. Becomingone is extremely relevant and one of the reasons here in hong kong in shenzhen is to entertain discussions with various market participants. We are waiting their options about what is Going Forward the right gateway for the european market, Continental European market, in a world where postbrexit there is more uncertainty about the future relationships between the uk and Continental Europe. Uncertain whether it is the right time to start talks because its not clear that the uk has a timeline. And german leaders jockeying for positions, saying eurodenominated assets should move to frankfurt or paris. The discussions will start whenever the uk government will initiate those discussions. Will be a combination of forces, business forces and other forces. In terms of the relationships between the uk and the rest of thate, what is clear is wherever you are on the planet today, you have to weigh your options carefully, because there are too many people who thought brexit would never happen. Life going on as it was before and a postbrexit environment, any organization that wants to do business with the 450 Million People with a high Living Standards and Continental Europe with a strong commercial companies in europe with a pool of savings, anybody who wants to touch that market and continue doing business with that market, has to carefully decide and weigh the options. Haidi it is paris the best place in terms of maintaining that Investor Sentiment and Investor Trust and stability . Believe we dont need one single Financial Center in europe. On the occasion of brexit, we can reactivate have very strong traditional Financial Centers in europe like amsterdam, paris in particular, frankfurt has some real strengths for sure. Amsterdam are very Strong InternationalFinancial Centers that can be the hope for many operations in the financial industry across segments, but one thing is clear, the prebrexit world was a world where most of the commercial companies were on the continent, and most of the bankers were in london. Most of the savings were generated from the continent. Most of the Asset Managers were in monday in london. Continent,s in the and 30 to 40 in trading is still in london. This is all fine and a world financing is wall street, movie industry is in hollywood, cattle industry in chicago, that is fine. Has decided unilaterally to leave the common project, to leave the common regulatory space, to take control, then we are in a completely different position. Theme you seem to be supporting, diversification versus consolidation, leads me to my next question. You have been an opponent of the rse tire. Bo his is a two big to fail type of situation . Voices and many stakeholders have expressed doubt and concerns about it, there are main areas of concern that explain why various regulators and supervisor authorities in brussels in germany and the uk has welker reviewing the deal. One is the strong risk of anticompetitive behavior when Large Company is consolidated. The governor of the french central bank, a member of the made public their concerns and many other people among the Central Banks have concerns in terms of what it means to get together a very large clearing houses, which can mean to a banking merger type of situation. Haidi thank you for coming on in talking about the various issues. Onare announcing waiting an announcement from european regulators on the decision next week. Very interesting to see as they mall further. The ceo and chairman of euronext. We take a look at why taking india over china has paid off for some hang of orian singaporean hedge funds. This is bloomberg. Haidi this is trending business. Welcome back. Funds were thege best performers in the first seven months of the year. That is due partly to india. The key driver was to performing so well this year. Let me put it this way. Diversification helps every portfolio, and diversification helps singapore. Australia has a strong exposure to global equity, and those are strategies which have not been doing too well this year. Singapore has a much more diversified landscape and ecosystem of hedge funds. Indias stock markets have done well this year, up 9 . , which are funds strong long equity bias, up 3. 3 according to data provided this year. Where we areegy seeing hedge funds in singapore is global macro, and this strategy has done pretty well this year, up 1. 6 . Us some perspective. What does the picture like if we look back a bit further . Long term, the picture looks completely different. By the way, singapores hedge ,unds up compared to hong kong 2. 3 this year. Longterm, completely reversed, hong kong hedge funds since the 300 79 , versus singapore, up 253 , so singapore has performed much worse compared to hong kong. When reason is the longterm Success Story of china equity longshort. And smaller hedge funds, a lot of them start up, but after a while they realize they dont do well and shut down after a short time, so that is the reason while the longterm that singapore has not done as well as hong kong. Haidi a lot of shops have had a hard time of it lately, but what is the outlook for asian hedge funds . Not thenst months have good for asian hedge funds. We have seen the aum declined by 10 . That is a bleak figure. On the other hand, many experts diversification might help the hedge funds in the coming months. Singaporeying with and the lion city has one another trophy, defending his title as expats favorite place to live and work, taking the top spot for the second year. Switzerlande first, winning and economic turns. New zealand took the honors when it comes to the experience category with australia rounding out the top 10. More than 27,000 expats took part in the worldwide poll. Up next, chinas biggest coal producer begins to raise production to cope with rising prices, but will it be enough to alleviate all the consumer concerns . Markets in hong kong and shanghai underway. We will have the opening numbers and action after the break. This is bloomberg. Hey hows it going, hotcakes . Hotcakes. This place has hotcakes. So why arent they selling like hotcakes . With comcast Business Internet and wifi pro, they could be. Just add a customized message to your wifi pro splash page and youll reach your customers where their eyes are already on their devices. Order up. Its more than just wifi, it can help grow your business. You dont see that every day. Introducing wifi pro, wifi that helps grow your business. Comcast business. Built for business. The top stories this hour. The new rba governor philip lowe has made his first statement since taking over. He expects inflation to remain low, but will pick up as the labor market strengthens. He says it is in the publics best interest to deliver inflation of 2 or 3 . He also insisted policymakers arent inflation nutters. Surging 25 after korean air agreed to provide emergency funds. Offering 50is Million Dollars immediately, although the government estimates the company will need 10 times that much. Receivership court says hanjin may be beyond rescue. Fonterra fullyear earnings jumping as lower prices boosted income from cheese and baby pharma. 613 Million Dollars net income, earnings per share within estimates, . 51. The Worlds LargestDairy Producer has cut jobs and sold assets to improve efficiency and strengthen its balance sheet. A look at the to markets open when it comes to shanghai and hong kong. All markets across asia in the green right now. The shanghai composite gaining for a second consecutive day, a 5 at the open. Hang seng gaining almost 1 . Asian stocks excluding japan on holiday now rallying for six consecutive days. The kospi gaining all week, 1 . Asx 200 up. 8 . Stocks and is even a. 5 after the rbnz left rates unchanged but said rate cuts could come later on. Taiwan up. 2 , the jobless rate at 3. 95 , slightly below estimates. Take a look at the chinese offshore yuan. It rose for the first time in four days, currently in change, but trading at this level. The fed pushed back expectations of a rate hike. Plunging, the worst annual performance and almost four years. Take a look at these tiny stocks. China railways is gaining more than 2 . A plan to invest nearly 2 billion on an expressway project. Petro china also gaining 1. 8 after it was raised to outperform. ,ake a look at oil prices searching for a fifth consecutive session, up 1 . At 45. 79. We have data out of the u. S. Showing that inventories fell to their lowest since february. More than 6 Million Barrels last week. Thats right. That rally continues ahead of the opec meeting. Lets get over to china. Nevermind chinas overcapacity when it comes to coal mining, the largest producer is set to increase production. What is going on. Has been cutting capacity and steele, but what has been happening is they cut the capacity and output, prices have gone up much more than expected. Of coal, thena worlds biggest consumer and producer, so what they do affects price globally, is down 10 the shoe. The chinese president has been telling miners to lower their output. They cut capacity through august this year equivalent to the output of columbia and south africa. It has driven up prices. Cashelbring up the new newcastle benchmark, up 44 after falling for five straight years to the lowest level since 2008. When you reduce the capacity of output from china, it raises the prices. Spot prices for metallurgical cold to make steel have doubled since july, over 200 metric tons. People close to the situation in china say 14 chinese miners owned by the largest coal group, shanxi group, set to raise prices now. S