Asian Midday Marketwatch – Japan’s Nikkei 225 jumps 2% as Prime Minister Suga bows out

Mizuho Bank Head of Economics and Strategy Vishnu Varathan on Biztech Asian Midday Marketwatch

Vishnu gives his insights on:

• Expectations of the Non-Farm payroll numbers today and what that could mean for markets
• Why the markets responded positively on Japanese Prime Minister Yoshihide Suga’s announcement that he will not be running in the upcoming leadership elections
• Three pieces of negative news out of China;

i) The Caixin/Markit services Purchasing Managers’ Index came in at 46.7, against July’s reading of 54.9.

ii) China’s cybersecurity regulator on just released sweeping draft rules for regulating use of so-called recommendation algorithms

iii) Hong Kong-listed shares of Alibaba fell more than 3% following reports that the firm is set to invest 100 billion yuan (about $15.5 billion) by 2025 for “common prosperity.”

Vishnu comments on these and why they could have an impact on investors switching out of China into Indian stocks.

Guest: Vishnu Varathan, Head of Economics & Strategy at Mizuho Bank

Presenter: Brian Fernandez

Check out more Asian Midday Marketwatch here