CCTV Script 13/07/15

— This is the script of CNBC's news report for China's CCTV on July 13, Monday.

Welcome to CNBC Business Daily, I'm Qian Chen.

All-night talks between the Greek government and euro zone leaders have resulted in a reform-for-aid deal for the debt-stricken country.

At around 8 a.m. London time, President of the European Council, Donald Tusk, tweeted that discussions had "unanimously reach agreement."

Creditors had demanded that the Greek government enact key reforms this week before any financial aid is proposed for the debt-stricken country.

Nonetheless, for longer-term investors, European equities are still preferred as are overweight positions in U.S. and euro zone high-yield bonds in fixed income markets.

"One obstacle is trust: the German government in particular still needs convincing that the Greek government will make good on its promises. As a result the Greek parliament will need to pass a number of reform measures before negotiations on access to funding from the European Stability Mechanism can start," said Mark Haefele, Chief investment officer at UBS Wealth management.

"Through the volatility, we believe that overweight positions in euro zone equities and U.S. and euro zone high-yield bonds are warranted," he added.

International investment strategist at U.K. wealth manager deVere Group,Tom Elliott said his advice to clients has been to "Stay on the fence and don't try to be clever. It is the safest place for a long-term investor to be."

"If you want to play then I do quite like the 2017 Greek government bond. But that is not what we are saying to our clients," he told CNBC.

"In terms of equity, I do like Europe, but these are small bets I am taking, and I like Japan as well. But ultimately, I think the U.S. raising rates too fast too soon for the U.S. economy to handle trumps the risk coming from Greece," he said.

[FARIBORZ MOSHIRIAN, UNSW Business School, Director of the Institute of Global Finance] "06 37 22 In effect the Greek government won the battle through the referendum last sunday, but they have lost the war, because they have to now accept much harsher austerities if they are going to receive something about 83 billion euros if you like over the next 3 years."

CNBC's Qian Chen, reporting from Singapore.



CLN RUN DOWN 0600 07_13_2015



Co-Head Of Asian Economic Research, Managing Director

Search: TKY GUEST 0630 HRS MON


065046 Remember the Chinese economy is in a very precarious state at the moment. In 2007, when the market slid, the economy was in a much better shape. You had a much stronger real estate market for example. This time around, we already had some challenging economic news. So letting the stock market rip, so to speak, I think would have been quite dangerous. So some stablization measures always are quite useful. 065113

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CLN RUN DOWN 0600 07_13_2015



Co-Head Of Asian Economic Research, Managing Director

Search: TKY GUEST 0630 HRS MON


065141 For the time being, you know, be a little bit cautious. We have, as I said, because prices that got reprocess still somewhat suspended. We still see a lot of retail investors possibly want to get out, while other people trying to get in. So it's gonna be a push and pull here for a while. 055159 I'm not a strategist per se, but I think patience at least from economic perspective would be warranted at this point. 065205

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CLN STREET SIGNS 1100 07_13_2015

Kay van-Petersen , Saxo Capital Markets , Asia Macro Strategist

Search: SGX GUEST 1000 HRS MON(2)


102100 The Chinese market is still a very young market. It's like a baby, when you compare that to, say, the US which is like an adult, the UK. They are like a baby and they are just more volitile overtime. We know it's heavily heavily dominated by private, I wouldn't even call them investors, punters right. So it's gonna over-extend, either way to the upside and to the downside. So markets do that naturely, it's only gonna do that much more when you have those characteristics of the market. 102129 If you are looking for a long term solution to dampen volatility in China, it's actually speeding up, opening up the market. 102137

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CLN STRRET SIGNS 1100 07_13_2015

Catherine Yeung, Investment Director, Fidelity Worldwide Investment



103716 When you look at Thursday and Friday, in terms of the trading, who's buying. I was talking to a trading desk on those days. And really on the H share market, it was foreign investors, it was companies doing buybacks. In the A share market, as you mentioned, there was some government arm that were purchasing, and a small amount of foreign investors. But again, the government really wants to attract institutional investors into the market, so that diversifying the turnover, but again they won't let the market be less momentum driven. 103745

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