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CCTV Script 05/09/16

This is the script of CNBC's news report for China's CCTV on September 5, Monday.

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

While much noises are flying around the G-20 leaders' summit in Hangzhou, the chances for this global event to move this week's markets are low, according analysts.

In a report "The Effect of G20 Summits on Global Financial Markets", published by ECB, the authors concluded, "Effects of G20 summits are small, short-lived, non-systematic and non-robust across specifications and assets. Our paper suggests that the information and decision content of G20 summits has been of limited immediate relevance for market participants or already incorporated in prices."

This view is shared by Nizam Idris, a strategist at Macquarie Bank.

"Ultimately, I think it will be a yawn," He expected an official communique "full of motherhood statements rather than anything specific or actionable."

But boring is good. This is not 2008 and there is no pressing need for the G-20 to hose down any major economic conflagrations.

In Europe, the Brexit aftershock appears to be subsiding, although markets risk falling into a false sense of security since Article 50, which kicks off the entire divorce process, is yet to be triggered.

In Asia, China's yuan - which has been on a depreciating path - has stabilized, offering the G-20 some breathing space. "Volatile capital outflows from China are a thing of the past and recent CNY (yuan) weakness post-Brexit has been orderly and largely ignored by market," according to Credit Suisse.

Standard Chartered adds: "China's efforts to better communicate its FX (foreign exchange) policy and refrain from a 'maxi-devaluation' have played a key role in reducing the risk premium in global asset markets. The G-20 statement may explicitly welcome this development."

And despite Friday's downbeat U.S. jobs report, dollar-yen looks resilient, holding above the century mark and, for now, out of the intervention zone.

Financial markets are looking for substance beyond the usual G-20 platitudes - a "concrete pledge to boost infrastructure spending via greater fiscal stimulus," says CBA's Elias Haddad, or "fiscal activism" as Macquarie's Idris puts it.

If world leaders do deliver on that score - and it remains a big "if" - that may go a long way in shaking off communiqué fatigue and currency markets may actually sit up and listen to what the G-20 has to say.

CNBC's Qian Chen, reporting from Singapore.

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