The financial week on the Asian stock exchanges starts upwards. The boost comes from the positive outcome of Wall Street, but also from the recovery of the Dragon economy. China, which has now filed the emergency, is preparing to experience the Golden Week, or the holiday season, which, like every year, kicks off on October 600, the anniversary of the Revolution. According to the Ctrip platform, at least 20 million people will travel in the next eight days (XNUMX% less than a year ago).
ASIAN PRICE LISTS RISE. 600 MILLION CHINESE TOURISTS
The first auto show of this tormented 2020 will open today in Beijing, albeit in a reduced form due to the absence of foreign manufacturers. The data on Chinese industry released over the weekend contribute to fueling the optimism: the profits of companies manufacturing, in September, rose for the fourth consecutive month.
The plus sign thus appears on all price lists: Tokyo's Nikkei rises by 0,7%, Hong Kong's Hang Seng +0,6%, Seoul's Kospi +1,3%. CSI 300 index of Shanghai and Shenzhen stock exchanges just above parity.
The future of the S&P500 index also rose by about half a percentage point.
However, Covid -19 continues to claim victims around the world. A terrible record was set yesterday: one million dead.
USA VOTE: SUPREME COURT AND TAX. TOMORROW THE FIRST TV DUEL
General attention is now focused on the race for the White House, which, as expected, is announced with no holds barred.
First of all, the US political temperature was raised by Donald Trump's decision to appoint without delay a new judge of the Supreme Court in the person of Amy Coney Barrett, a fundamentalist Catholic. This will be one of the hot topics of tomorrow's Cleveland debate, the first televised head-to-head between the two candidates.
TAXES, FOR 10 YEARS TRUMP IN RED
But the scoop of the New York Times, which, after a search, has finally reconstructed the tax returns of Donald Trump, who (the only president in history) has always refused to make his tax documents public. In 2016, the year he won the election, Donald Trump paid just $750 in federal taxes. Same amount the following year. In fact, for 10 of the previous 15 years he never paid out a dollar. “He has not paid any taxes for 10 years, because he has reported more losses than gains,” reveals the newspaper. “Fake news”, replied the President, without providing any explanation.
In this context, the last report on the labor market before the elections on 3 November is expected on Wednesday: 850 new jobs are expected, down on the 1,3 million in August. Gross domestic product data is also out. Unemployment is seen to fall to 8,2% from 8,4%.
LAGARDE TO THE EU PARLIAMENT, VISCO: ECB LIKE THE FED
In Europe, Christine Lagarde's hearing in the European Parliament is to be followed today. Deputy Luis De Guindos will speak on Friday. The debate on the objectives of the ECB is growing. The governor of the Bank of France, Villeroy de Galhau, has called for an increase in the central bank's targets.
Meanwhile, the governor Ignazio Visco, after having supported the need to activate the Mes, he said that the ECB, like the Fed, also has the objective of avoiding deflation: “All the economic policy tools we have are aimed at increasing demand and keeping prices more in line with stability, counteracting the deflationary trend”.
LAST ROUND TO AVOID THE VIOLENT TEAR WITH LONDON
The last round of negotiations to define the United Kingdom's exit from the European Union resumes tomorrow in Brussels and will continue until 2 October. Despite the difficulties, confidence in the possibility of reaching an agreement has grown in recent days.
In Italy, meanwhile, the Government is working to define the Update Note to the Def, with the new public finance estimates, whose approval is expected within the week. The maneuver should be worth 30 billion euros and allocate 8 billion to tax reform and child allowance. The Democratic Party insists on the use of the Mes.
TIK TOK, THE JUDGE BRAKES
The duel on Tik Tok continues. A federal judge has suspended the order with which Washington intended to block the activity of social networks in the United States since yesterday pending an agreement between the platform, Oracle and Wal-Mart.
On the corporate front, the airline sector should be followed on Wall Street: the government should communicate the plan to relaunch the sector.
ASPI, THE REVOCATION MAY START ON FRIDAY
In Piazza Affari the spotlights will be on Atlantia. A summit at Palazzo Chigi decided the hard line towards the company controlled by the Benettons. In the absence of an agreement with the CDP, the withdrawal of the concession is once again topical. The decision will take place with the council of ministers scheduled for Friday.
