>> this is "daybreak: asia," counting down to major market opens. haidi: it's about central-bank expectations, we just heard that the fed is in no rush to cut rates and it will take some time to know that inflation is headed sustainably toward 2%. on the consumer side we are looking at the ppi, a lot of expectations that we will see upwards pressure there as well. paul: more data to come and based on what we've seen it could make the picture cloudier. one of the commons made that i found interesting is the fed expects interest rates to come down but the market expects it to come down faster. haidi: cloudy when it comes to the bank of japan at the moment, they're trying to gauge ideal timing for moving out of negative rates. this is when we see the it on economy slipping unexpectedly into recession.

look at japanese assets trading as we come into the fray. certainly a different picture when it comes to the markets, nikkei 225 up in the first minute or so of trading. we are a couple of percent away from the 1989 record high. potentially we get that quicker -- sooner than expected i should say. the yen getting some relief, the 150 level with some weakness in the greenback. some expectations more to the upside when it comes to producer pies -- producer price inflation in the u.s. some retail numbers muddying the waters. watching japanese bonds, futures pointing to the rise in cash trading, the and maintaining the rebound from the three month low after initial treasury real --

treasury yields declining. caution on boj bets. over to korean trading, this has been the big comeback when it comes to south korean equity markets becoming the least loved to the best-performing gauge this month, for investors stepping up purchases. some of those gains built on expectations of local regulatory market reform. tech stocks up about half a percent in korea as well, and pretty steady trading when it comes to dollar-won. the export numbers, the first 10 days not particularly positive but on the balance, a lot of positivity when it comes to east asian markets. paul: we are seeing some enthusiasm in australia as well. the asx up about 8/10 of 1%.

the stock itself flat. bhp, the world's biggest miner doing well after its train drivers announced they will not go ahead with strike action. the aussie dollar, $.65, not a lot of change. yields creeping up. there is the story around oil also. russia has almost reached its voluntary output cut for the first time since it made that promise. potentially surplus this year as demand growth slows down, oil from non-opec country starts to increase. let's look at u.s. treasuries in the japan session. modest increases to yields as well. we did see them cool off a little bit in the u.s. session, mixed data. you can see raphael bostic

saying victory is not in hand. let's bring in our next guest, asian equities portfolio manager at mng investments. i want to talk about japan if we can them a closing in on the high we haven't seen since 1989 p it to feel like maybe the nikkei still has opportunities? vikas: thank you for having me back. japan we've been constructive on for years and even last year we had this conversation, we thought we were still in the early innings of the equity appreciation cycle in japan. i think we are still pretty early, it's not yet overbought and i think there are good reasons for the market to be where it is. we see some sectors even expensive.

hardware, it looks quite stretched bid but overall, small caps and large caps across sectors and japan we find plenty of opportunities for long-term investors. paul: japan in a technical recession. has that muddied the waters for you at all vis-a-vis the bank of japan's next move normalizing rates. have you changed your strategy in the past 24 hours? vikas: not really. we've not changed our strategy in japan for the past several years. we continue to be bottom-up focused. we are aware of the top-down situation in japan, whether it is the currency or interest rates. on the bottom up basis there's a lot to like in japan across sectors and market caps. the list put out by the stock exchange highlighting what companies are doing well on the evolution of corporate governance and which need to do work, i think that's a clear message that things are well underway.

we are still in the early stages of long-term equity appreciation cycle in japan. haidi: is it hard to be bottom-up with that tragedy in markets like japan that are such dial ins for investors? vikas: sometimes we look at the valuations and we think may something looks stretched and we should reallocate some capital. the question is, if we sell something, where do we put it? we let things appreciate could we've done our work and we are long-term investors. in japan as in india we find absolute return opportunities and relative return opportunities. china is a different story in that the market seems to be headed in a different direction, but we continue to find absolute return and relative return opportunities in that market as well. if we broaden it out and include south korea and taiwan, we continue to be positive on those markets as well. even broader southeast asia.

we continue to find opportunities in asia. optically, the multiples look high but you have to play them moving forward and see what they become pure there is genuine earnings growth in japan and india, and there's earnings growth in china and elsewhere. we remain constructive on asia in general. if you look at our cash levels in our portfolios, they remain low not just in japan but in asia as well. haidi: valuations are high in china and very few people are structurally construction -- constructive on china. can you tell us what you are positive on? vikas: we are positive on several sectors. one is factory automation, technology hardware. the consumer sector as well. if you look at the top-down data, the consumer sentiment is not strong and if you do your homework and find opportunities i think there is plenty to look at. a couple of weeks ago when starbucks reported earnings,

about 10 or 11 minutes into the earnings call they hosted, they mentioned the evolution in the china market. they seemed to be acknowledging there are domestic competitors that understand the consumer better and are using technology better and making inroads into that market. we see that in sector after sector, the rise of domestic consumer brands, which is an area we've allocated a lot of capital to the last couple of years and we will continue to allocate capital to. paul: a lot of foreign investors cool on china at the moment, but when trading resumes next week do you think we will see selling resume as well or do we have a floor under prices? vikas: rather than make a prediction i can tell you what we are prepared for. i would not be surprised if the selling resumed in the short term. if you look at the earnings growth, the price you are paying for the earnings growth. for a long-term investor, there is value in hong kong, there's

value in mainland china as well. we mentioned the consumer sector but if you broaden into tech hardware and go back a few years to when president trump came into office and the research and's on the semiconductor sector were implemented, a lot of companies ran up ahead of earnings growth. the valuations of come down quite a bit. the earnings growth has accelerated. you see the signals coming out of japan from the semiconductor sector and the companies that supply equipment to customers in china, there is a lot of growth ahead. if you look at the japanese come news and chinese companies that are selling into these sectors, the data are getting better and we are seeing opportunities in those sectors. haidi: continuity seems assured when it comes to indonesia, the jci almost at a record high. i would do wonder -- i do wonder, would you be more muted on that position until we get reform measures announced? vikas: not yet.

i don't think we are too cautious yet on indonesia. we continued like the banks, consumer companies, health care. in southeast asia we also like thailand. that's a market that's been off the radar for a little while. we like the banking sector and consumer sector. there's a lot of growth in southeast asia that remains under the radar. i think there are reasons for this, part of it is a lack of liquidity, part of it is they are too much like deeper markets like india and japan and south korea. but southeast asia is a place to look. indonesia and thailand. haidi: it was great to have you with us. taking a look at some of the movers we are watching in chip related and machine related stocks on the move. we had expected asian machine

stocks would fall after deere fell. applied materials having an impact across some of the chip names. the largest u.s. maker of chip making machinery jumping after giving a revenue forecast. we are seeing also samsung flat at the moment. watching machines stocks as i mentioned, we saw the profit outlook cut, a slight of about 1% the most since august, this is the world's biggest farm machinery producer and some of the downside reflected in japan. xi paul: still to come -- paul:

still to come, why the u.s. dollar will remain weak and it means for the yen, according to our guest. first, strikes between israel and hezbollah in lebanon intensify, raising the alarm of wider war. details next. this is bloomberg. ♪ - it's payback time. all these years you've worked hard, you've fixed it, you've looked after it, maybe it's time for your home to start taking care of you. - we've invested in our home, we've worked on it. - we had a whole lot of equity just sitting there. - you paid down the mortgage, invested in your home, i guess you could say your home owes you. - [narrator] if you're 62 or older and own your home, learn how you can access a portion of your home equity to give you cash.

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call the number on your screen. - the worry every single month to make that payment was gone. - our customers' homes are taking care of them, maybe your home could do the same for you. - [narrator] call aag, the country's number-one reverse mortgage lender and get your free info kit. call the number on your screen. haidi: fears of a wider war in the middle east growing as a strikes intensify between israel and hezbollah. the group has fired a barrage of rockets in retaliation for the killing of one of their commanders. let's bring in michael heath. these are legitimate concerns, that this will turn into a wider

regional conflict. michael: this has been the big worry. when the attacks first happened, you will recall that the u.s. sent a carrier group and one of the reasons was to deter hezbollah and prevent this from becoming a wider regional conflict. there has been to and fro between israel and has a lot the entire time but israel characterizes it low in threshold level that both sides understand. what we seen this week is it started to rise above that. it hasn't gone to high but it is a significant turn. it coincides also with the expectation that israel wanted to take the new offensive in the south of gaza, in rafah. whether hezbollah has issues, or whether it is just that israel

killed a has blood commander in a strike and this is simple retaliation. paul: at the other end of the gaza strip, israel is seeing found hamas combatants in khan yunis. what more do we know about this? michael: they've gone into the hospital and carrying out an operation like this in a hospital with patients, it's difficult for there not to be casualties as well. israel said it believed there was information of the bodies of hostages held fair. the state of israel has a policy of trying to not only return hostages but the bodies of anyone who dies who has been held in captivity. at this point there have been no bodies found yet. they say they have arrested militants, some of whom were involved in the october 7 attacks. they've also discovered weapons, including mortars.

they say there's been the firing of mortars from there. al jazeera is mentoring that injuries to doctors and others are targeted to this attack. it's quite messy. but they say have found them. paul: michael heath therapeutic other political stories, the white house says russia is developing an anti-satellite capability that poses no current threat. this after the house intelligence committee chairman warned of an unspecified national security concern. we've also learned that u.s. intelligence shows russia is discussing the possibility of a nuclear weapon in space. taiwan is defending the action by after a maritime operation led to the death of chinese fishermen. a boat capsized on wednesday after they were refusing inspection by authorities. the rest on board were rescued.

india bracing for nationwide rule strikes as the government continues to hold his ground against protesting farmers. police have barricaded most of the road into new delhi, and are firing tear gas. fires want guaranteed crop prices, which they say the government promised after previous protests. let's check on futures in europe are opening right now. pretty positive all around. we've got the swissie also strong against the u.s. dollar. let's look at the nikkei right now, stocks in japan, what are we watching? haidi: we are within a whisker, a breath, maybe the next 20 minutes or so, i don't want to jinx at what we are very close to the 1989 level of the

all-time high. poetic given we are headed into taylor swift weekend. we are seeing very robust gains for the nikkei two to five, -- nikkei 225. wall street giving some support to the bullishness in the region as well. it was truly a mixed bag of u.s. eco-data, headed into the key ppi gauge as well. that print could also be hotter as we saw with the consumer side. that potentially lens to more pricing around fed easing expectations. broad-based gave across australia and asia. we are very close to the december 1989 high for japan. it is the breather we were expecting for the japanese

equities rally, it hasn't materialized yet. it could come within the hour, so be poised to see whether that happens. even as we have some strengthening in the yen, now under the 150 level after weakness in the greenback, retreating from the three-month high in the dollar. meantime, as we await for the seemingly inevitable achievement of the 1989 high for the nikkei, here are stories you need to know on daybreak on the terminal. subscribers can find that. it's also on mobile and you can customize the settings to get news on the industries and asset classes that matter most to you. this is bloomberg. ♪

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paul: the ford chief financial officer says the company is developing small and low cost dvds and a couple of years. he laid out their plans for more affordable electric vehicles. >> one of the advantages we have is we've been out with first generation vehicles for more than three years. we are developing a second generation vehicles, a new breakthrough. we've brought in people from outside that have expertise and we are developing a low cost ev platform so we can be part of the s-curve when it comes time. i think that is coming a couple years from now and i think it will be a big inflection point for the industry. when more affordable ev's come online. >> do you feel the industry was surprised by the hybrid? toyota bet a lot on that farm and it feels like industry went full throttle into high-end ev's

good did we miss a trick? >> i don't think so. one of the things about ford that's good is we in hybrids as well. we have the number one selling and number two selling hybrid truck. we expect it to grow 40% this year. we have the ability to provide our customers choice -- gas, hybrid and ev, and that is important for the transition. it's a steppingstone. >> coming into this year and last year, and you started to see the rollout of the lightning , and he started to get the since this was the direction the company was going, when the sales numbers came in, saul demand was less than some initial projections. >> demand is less on electric vehicles. we have three divisions and we broke them out into segments last year so you can see what's happening with each of the businesses. we are growing across each of these businesses.

ev's were incurring losses at the start. what you are finding is as this transition happens, it's not a matter of if, it's a matter of when and how quickly. i think that's what we are seeing. yes, it is slower than people thought. the adoption curve is less because we are moving from early adopters early majority, and there are different satisfaction issues they have around charging and/or price that needs to be resolved. >> you are still confident long-term? >> very confident. >> wall street investors tend to focus on short-term. the question that comes up time and again, until we get to what the future will be, how much of the development on the ev side of the business can feed into some of the other businesses in a way that maybe mitigates or at least makes those losses more manageable? >> there are technologies we are developing that will be part of the electric business but also

used across our gas business. haidi: the ford chief financial officer speaking to us earlier. the top corporate stories this hour, general motors with a shift from mainstream models in china by focusing primarily on luxury vehicles. the carmaker is struggling to bounce back from years of declining sales and profits in the world's biggest auto market. this would mark a big reversal for gm, which injured the market in 1997. jeff bezos has unloaded another 12 million shares of amazon valued at $2 billion, bringing the total sold in the past week to over $6 billion. he had disclosed plans to self as much as $15 million of amazon shares. this as he recently relocated to florida from seattle, which could save him millions in taxes. the u.s. justice department plans to scrutinize a new

streaming service proposed by walt disney and warner bros. discovery. there is a concern it could harm other companies. disney, fox and discovery announced the new streaming service earlier this month. we have learned that apple is nearing the completion of a new ai software tour for app developers that will use ai to protect complete blocks of code. apple is said to be releasing the tool as early as this year. paul: let's take a look at the nikkei, watching this closely because it might take out that 1989 peak today. the key word is "might." a couple of numbers to watch. 38 915 is the closing high, but another strong day.

almost every sector in green energy particulate stronger. i.t. stocks also performing well better by 2.8%, materials also better by one and three quarters percent. the nikkei about 100 points and change or 200 points and change away from the intraday high of 38,957 set back in 1989. pretty weak yen, 150 point 09 right now. plenty more to come. this is bloomberg. ♪

it's haidi: we do have data out

from singapore, the trade numbers, domestic escorts, a big beat on expectations when it comes to the year on year numbers, 16.8 percent over expectations of 4.3%. a big bounce back from the contraction of 1.5% in december. these seasonally -- the seasonally adjusted number still a beat on what was expected and bouncing back from a contraction of almost 3% in the previous reading. electronics in particular, seeing gain of 7/10 of a percent. marginal but still better than expected given we saw a december contraction of almost 12% when it comes to electronic shipments to singapore. this will be good news given the broader economy expanded by slightly, a slightly more modest pace than expected in 2023. we had growth a downwardly revised on the back of the slump in manufacturing.

this re-acceleration when it comes to the broader background, resurgent demand for electronics will be pleasing. paul: every risk on tone in the region of the moment, all of the major markets trading in positive territory. the nikkei at 1.5% up. in australia, pretty much looking the same. i want to mention the asx limited. the nikkei pushing ever closer to that 1989 hi, the number to watch is 38,000, 957 -- 38,000 957. every sector in positive territory. helped along, honorable mention to the end, erie week, 150 point -- honorable mention to the yen,

150.09. haidi: the yen at a three month low. we've seen a recovery but it is a bit of a bumpy ride, particularly with the economy seeming to slip into recession. let's bring in the head of fx research. interesting times for yen traders. the gaping divergence between the fed and japanese monetary policy will continue to prevail mahjabeen: what is driving the yen weaker and weaker, we have the u.s. exceptionalism story, retail. there is a push and pull around the u.s. data side that is

impacting the scale of easing for the fed in terms of market expectation. i think that will continue at least until the march meeting when we get new projections from the fed just to think what their -- to see what they are thinking. haidi: let's talk about the fed and the greenback side of things. we heard from raphael bostic saying it will be a bumpy ride, they are not in a rush to cut into they really want to see inflation expectations well anchored. we could get a hotter than expected ppi to compound the market reaction to cpi. will there be a period of i guess relief for currencies like the yen because the dollar is likely to be softer? mahjabeen: i think so. we think the gulf -- the dollar will remain resilient at least for q1. we have to continue with the ppi, it could be the highest cpi this week, it could be more seasonal, looking at the last january prince post-pandemic,

which pointed to higher cpi. it could continue and next month. having said that, you look at trends in the u.s. economy, it doesn't look like things are starting to slow down for the job market. i think this pull and push will be about expectations and what the fed says, will drive the market until the march meeting. paul: in terms of the central bank on the others of the pacific, the boj has a problem now because who wants to tighten into a recession, and secondly, a sense that maybe they wanted to get rates normalized before the fed starts to ease. mahjabeen: 100%. it will be difficult for them. we are expecting a shift from negative rates to zero in april,

the market consensus. beyond that is a question mark. the boj has already made out some terms, inflation has to remain high, we have negotiations coming up in march and april and we want to see the results. i think all of that will drive the context into red after the shift in april. at this stage it's unlikely to see how far they will go. in the short-term we continue to expect a weaker yen as we see right now there's a lot of commentary above 148, 149, the bank of japan coming to intervene. but 2022 intervention and beyond, even the intervention has not been very successful in keeping a cap on the currency

. paul: want to get thoughts on the aussie as well, we had unemployment data softer than expecting. does that slam the door and further tightening from the rba, is it just a question of when easing happens? mahjabeen: i agree. taking into consideration the fact that we do have tax cuts beginning on the fourth of july. we have to see how much they add to gdp growth. we think some pickup in consumption. it may impact the timing of the rba cuts but we will have to see how it plays out. i don't think the rba is in any rush to cut in the meantime because inflation, domestic driven inflation remains pretty sticky. paul: all right, thank you for

joining us. head of fx research at anz. chinese markets reopen monday after the lunar new year holidays good david -- new year holidays. david, what do we expect to see? selling or something else? david: hopefully something else. some of the proxies that had been trading indicate that assuming things don't change between now and monday, things are treated slightly higher, going into this week long break. you mentioned the currency, talking about the dollar strength as a feature of the markets, and look at how the offshore rate has traded while the onshore rate has effectively been frozen for the past few days. that's about a .3% gap. expect some catch up or catch

down from a yuan perspective. what will be interesting is the fix. they do maintain at 710, and given the osher rate, it would likely mean almost record spread of almost 1000. that is monday. we talked about some of the proxies, some of these etf's. the second one attracts the csi 300 directly. that is treated higher as well. on top of equity markets we are looking at commodity markets, which had a decent run these last few days. iron ore and copper just to name a few. entre commodity markets also come back online on monday. haidi: it's interesting, we heard from people who sound almost a bit constructive, maybe not exactly constructive but they will be quick to react when there is a catalyst. what is the near-term outlook

beyond the reopening? david: that's a good observation because i think certainly this is a market that has been very difficult. if you are long, it's difficult to remain bullish on the market. perhaps we are starting from monday, that effectively means we are two weeks away from the npc. given the momentum that has come through so far, conversation on the rescue fund and whether markets have been stable, it is hard to imagine authorities will let the market crash going into the npc. i'm just speculating that the optics would be far from ideal going into such an important meeting. these are some of the items on the agenda. they will use this, the first point on your screens, as a segue to the next conversation you are about to have. haidi: david in glass -- ingles,

racing for the open on the mainland. the exchange is aiming to expand to 100 members from 82. what are the names that are potential editions? >> i am hearing names like xpe ng, and foreign names like samsonite and prada. they recently added a stock and it was the best performing last year. when we look at samsonite and product, these are some of the foreign -- and prada, these are some of the foreign companies listed in hong kong and it could

be a signal to consider listing and hong kong even though the market is slumping in the city is struggling with that. the hang seng, when you look at the start of this year, it's a little more than 6% and has been on track for the fifth year at an annual loss when you consider it was slipping for the fourth consecutive year in 2023. all eyes on how to boost of the index. paul: is there any reason why the hang seng index is trying to boost health care and how close is it toward the 100 member target? >> the health care names i've been hearing, beijing is doing well in the u.s., known for cancer drugs, and a biologics company pioneering some of the obesity drug trials in china.

some of these names are mentioned in daily trading. at the same time, this is the biggest market cap among the hang seng health care index could this health care sector is the only underrepresented on the index alone because the purpose is to rebalance these sectors to match at over 50% market cap. that's the only one falling behind. some of these stocks could be added. in terms of constituents, they started with 33 members in the beginning and are gradually expanding to 100. analysts say it won't be possible to reach the 100 member target this year but there is a goal they are working toward and that's why there might be no dilution this time. paul: all right, our asian stocks reporter. bloomberg users can interact with the charts we show using

gtv . you can browse charts featured on tv to catch up with key analysis and you can save charts for future reference. this is bloomberg. ♪

paul: singapore will likely seek to defray living cost and support entrenched workers

through its annual budget announced on friday. for more, dan is joining us from singapore. what are we expecting to see in the budget? dan: first of all, let's talk about how much the overall environment has shifted from a year ago. china was expected to come roaring back. it was looking ok in february of last year but a lot of the helium subsequently went out of that. the good news is a euro bull -- a year ago singaporean leaders were warning about recession. that hasn't happened, particularly in the united states were some people are almost embarrassed about recession calls. this makes for overall a pretty benign environment in which the

government has indicated it would prefer to wind back some of the stimulus it injected in the economy at the peak phase of covid. haidi: is it likely the measures we see in the budget will address these concerns? dan: you will hear a lot of talk about fiscal prudence and not burning through reserves and not having to borrow money as other countries have. this is the standard singapore playbook to a degree. they did draw on reserves during the dark days of 2020. we will hear more pronouncements about the need to wind that back. stepping back from the immediate dynamic of what the soon to be prime minister will talk about in his speech, the biggest a single economic into physical challenge singapore faces is

demographics. it is on its way to being a super aging society. it has a fertility rate that is among the lowest in the world. japan gets all the publicity for this and more lately china, but singapore's fertility rate is at or near rock-bottom. it is barely one child per woman over the course of her lifetime. you have a declining birth rate, a rapidly aging upper segment of the age group. this places enormous strain on fiscal resources not just here in singapore but everywhere. there will be less emphasis in the decades ahead on personal income tax and more on direct taxes. we've already seen the gst here go up. paul: let's dig into the demographic challenge more

because as you say, it is not unique to singapore. is there anything governments can do to address this and are we seeing any measures to address it in the budget? dan: for sure. this is tied up with long-term changes in society, how people view having kids versus the other things they got to spend money on. governments have done a lot not just here to get us to this place. if you go to the national museum of singapore, there are fascinating displays, posters urging family-planning command the government put a lot of incentives in to budgets in past decades to get these family numbers down. in singapore like everywhere else, they discovered it worked too well. how do you crank it back up? there will be incentives tucked in here or there, but at the end of the day the government cannot be in the bedroom. paul: all right, thank goodness

for that. dan moss on the upcoming singapore budget. rbnz governor signaling the central bank might not be pivoting the rate cuts anytime soon. he says policymakers need to ensure that inflation expectations are contained while all measures of price pressures have declined, headline inflation still at four-port 7%. -- 4.7%. the rbnz has warned more hikes cannot be ruled out and cuts will not be entertained until 2025. more ahead on "daybreak: asia." this is bloomberg. ♪

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compare benefits. gusto makes it easier to find the right plan for my team. i think i'm going to need new glasses. no problem. you're covered. choose benefits without the mess. haidi: let's check in on the nikkei as we are so close to the historic 1989 peak. we are with and a whisker as we see japanese stocks continuing to rise in another strong session when it comes to trading in japan. i love that this is supported by what is still ultimately a pretty weak yen although we see a little bit of a recovery with the weakness in the dollar. we could get there today. the historic peak reached at the end of the 1980's given we had another record high in the west session as well. paul: soul is set to host an

anticipated baseball season opener next month. we spoke with the mayor on how he is looking to make mlb games regular events in south korea. >> mlb expressed its attention to visit regularly in the future. if this event goes well. about a month ago i met with the vice president of global business develop meant at major league baseball and decided in principle to proceed that way. >> how are the preparations leading up to the two games in march? is everything in place? what else needs to be prepared ahead of the big event? >> as you know, seoul has the only dome stadium in korea. it seats about 20,000 people. it is a very popular venue. it needs some repairs. in order to 19 a ground condition, that meets

international standards and allows players to demonstrate skills to the fullest, we are spending a considerable amount of money on renovations, including installing floodlights and replacing grass. >> that's good to know. i'm wondering, just below 20,000 in capacity, it doesn't sound like a big stadium. it is a medium-sized stadium. have you considered moving it to a larger venue in the future? are you considering building a larger stadium to host these big events? less than 20,000 is not a big place. >> of course. there is a sports facility that hosted the 1988 olympics and is undergoing extensive renovation. there are plans to build a new dome stadium that can accommodate about 30,000 people. when i went to canada, i saw the home stadium of the toronto blue jays, and there is a hotel

attached to the outfield so you can watch professional baseball at the indoor facilities good we are in the process of planning this as a benchmark. >> have you worked out how much that project will cost? >> it's in progress as a private investment project. develop & co. formed a consortium and is negotiating with the seoul netra polident government. -- metropolitan government. construction will probably begin as soon as possible after that is completed this year. >> i have to ask about crowd control and safety because of the tragic events at halloween. >> that incident was a safety accident that occurred at an unexpected time and in an unexpected place. this is a representative venue for k pop concerts. it has proven dozens of times to attract clouds who then quickly

leave after watching. haidi: the seoul mayor speaking with david. take a look at some of the stocks we are watching when the market opens in hong kong. china consumer spending on the platform. jumped over 155% from the same time in 2019. a chinese builder is expected to appear before a court hearing on friday. also prod a among potential candidates for inclusion in the hong kong stock benchmark in the next review. the investment outlook, next. this is bloomberg. ♪

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