U.S. President Donald Trump has cancelled his meeting with North Korean leader Kim Jong Un, set for June 12 in Singapore. In a letter to the North Korean leader he said; "Sadly, based on the tremendous anger and open hostility displayed in your most recent statement, I feel it is inappropriate, at this time, to have this long-planned meeting".

Investors have jumped into safe haven assets on the news. Gold, Treasury bonds and the Japanese yen all rose. Elsewhere in the markets the Turkish lira has tumbled again despite the central bank raising interest rates.


Donald Trump’s threat of tariffs on car imports into the US has sparked global condemnation. Critics say the move could disrupt supply chains and undermine the global trading system. Shares in large automakers in Europe, Japan and South Korea fell on the news.

This morning we have with us Francis Lun from GEO Securities and Dickie Wong of Kingston Securities. On the phone from Sydney providing the view from down under is Toby Lawson from Societe Generale Australia.