Share

WORLD: 5 things you need to know to start your day

New York - Trump tweets about North Korea, Chinese markets come back from holiday, and there’s plenty of economic data due out this week. Here are some of the things people in markets are talking about.

1. Trump vs North Korea

President Donald Trump returned to his outlandish statements against North Korea in a series of tweets. In comments this weekend, he said “Presidents and their administrations have been talking to North Korea for 25 years, agreements made and massive amounts of money paid hasn’t worked, agreements violated before the ink was dry, makings fools of U.S. negotiators.”

He went on to add that “only one thing will work,” implying he may have settled on a military option against North Korea and its leader Kim Jong Un. Meanwhile, Kim has promoted his sister to the ruling party’s political wing, and reports are saying that North Korea is planning to test a missile that its officials claim could be capable of reaching the US West Coast.

2. New Zealand elections

New Zealand’s next government has now started its formation process after election results showed both main parties could form viable coalitions. The ruling National Party and Labour opposition started separate negotiations Sunday with the nationalist New Zealand First Party. The parties would need support of the nationalist party in order to reach a majority.

October 12 has been set as the deadline for a decision by New Zealand First leader Winston Peters. The kiwi dollar dropped as the uncertainty rolls on, down 0.5% and buying 70.60 U.S cents as of 09:40 local time.

3. Chinese markets reopen after holiday

Equity traders are back at their desks in China following the Golden Week holiday closure, a period that’s been broadly supportive for risk assets. Indeed the Hang Seng China Enterprises Index of mainland firms trading in Hong Kong is up 5% since September 29, the most recent trading day in Shanghai. South Korea, Taiwan and Japan are closed today for holidays. Hang Seng, Nikkei 225 and S&P/ASX 200 equity futures are all trading slightly lower.  

4. Speaking of Japan...

Japanese Prime Minister Shinzo Abe told debate attendees that it’s too early to talk about an exit from monetary easing. At an event hosted by the Japan National Press Club on Sunday, Abe said he is leaving the issue to the Bank of Japan, adding that he and Haruhiko Kuroda are in agreement on the 2% inflation target, but that he’s leaving the decisions of what tools are used to achieve that and move toward exit from easing to the Bank of Japan governor.

5. Data galore

China’s retail and restaurant sales during the October 1-8 National Day holidays rose 10.3 percent from last year to 1.5 trillion yuan, according to a statement posted Sunday on the Ministry of Commerce’s website. Last year, retail and catering sales gained 10.7% for the holiday. On Monday the Caixin services industries PMI will be released, followed later in the day by Australia’s foreign reserves report for September. Meanwhile, Bangladesh September exports fell 10 percent year over year, which was below target.  


We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.94
-0.2%
Rand - Pound
23.91
-0.1%
Rand - Euro
20.43
+0.2%
Rand - Aus dollar
12.34
+0.1%
Rand - Yen
0.13
-0.2%
Platinum
910.50
+1.5%
Palladium
1,011.50
+1.0%
Gold
2,221.35
+1.2%
Silver
24.87
+0.9%
Brent Crude
86.09
-0.2%
Top 40
68,346
+1.0%
All Share
74,536
+0.8%
Resource 10
57,251
+2.8%
Industrial 25
103,936
+0.6%
Financial 15
16,502
-0.1%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders