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CCTV Script 08/04/13

This is the script of CNBC's news report for China's CCTV on April 8, Monday.

Welcome to the CNBC Business Daily.

We got a disappointing U.S. jobs report on Friday. Non-farm payrolls rose by just 88,000 last month, that's less than half of the 200,000 jobs gain analysts polled by Reuters had expected.

The jobless rate ticked a tenth of point lower to 7.6 percent, as more people dropped out of the workforce.

On the brighter side, there were substantial revisions to figures for January, when jobs growth was increased from 119,000 to 148,000, and February, which was revised from adding 236,000 jobs to 268,000.

[Sound on tape by: John Horner, Fx Strategist, Deutsche Bank: Friday's weak data reinforces those concerns that we're about to see a rerun of what we've seen in the past three years, where after a good Q1, we've had a Spring slowdown, a mid-year slump - call it what you will.]

[Sound on tape by: Richard Yetsenga, Head Of Global Markets Research, ANZ: Unless you think there's going to be continued and further successive rounds of stimulus out the Fed's balance sheet which already looks stretched, or out of the government sector, which is running debt levels which are similar to European levels, it's just going to be very difficult for earnings to positively surprise.]

And we will get more clues on the health of the U.S. economy as the earnings seasons kicks off today. Keep any eye on Friday for clues about the health of the U-S housing market. That's when the big mortgage lender Wells Fargo reports earnings.

S&P 500 earnings are expected to have risen 1.5 percent in the first quarter, that's down from a 4.3 percent gain seen at the start of the year.

FOMC minutes due on Wednesday could be the wild card for markets this week. Investors will be looking for insights on how quickly the hawks are pushing for an exit from QE, given Friday's weak job numbers.

[Sound on tape by: Dominic Schnider, Head Commodity Research, UBS Wealth Management: So from the Fed you're not getting much change, at least or what you could see is say: "Look, we continue with QE." Our early thought that we're going to exit towards the end of the year, that we might postpone, but we're not going to see any big response on the Fed side.]

Shifting gears to Asia, here's how the KOSPI finished. The Korean markets got a small lift earlier in the day, following five sessions of losses. But optimism remains weak ahead of reports that North Korea could launch a missile later this week, and after aggressive expansion by the Bank of Japan sent the yen lower.

Analysts polled by Dow Jones see immediate resistance for the index at 1950. Richard Yetsenga, Head Of Global Markets Research, ANZ told CNBC that beneath the political noise, fundamentals still look promising.

[Sound on tape: Fundamentally we like Korea. Obviously politics is causing a few problems but the problem with these political things for investors is that when they disappear, markets adjust pretty quickly and it's very difficult to be confident about when they're going to diminish. So we're basically taking a view on the fundamentals, and really hoping and crossing our fingers that the politics just looks after itself.]

Li Sixuan, from CNBC's Asia headquarters.

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