>> this is a daybreak asia we are counting down to asia's major market open and we are always watching for the possibility of the nikkei not going to happen. >> we will get there before tillis us what tour of australia, anyway, to be fair, this depends on what we get out of it, so much at stake. so much of which is the broader direction of where the ai driven chip driven rally continues for markets like korea. paul: japan is investing in this now, 67 billion, a fascinating store on the bloomberg terminal and japan moves to recapture an industry in terms of advanced chips. haidi: we are going to the open as we said, we will not get there when it comes to the 1989

high for tokyo today. look at this, this is the under big -- other big success story, early in a stocks have become the darling of the region. a lot of interest when it comes to korean stocks for foreign investors as well, driving this closer, not surprising like on a day like this with risk aversion, when it comes to chipmakers and the broader tech sector following the laws of the u.s. session led by big tech we are seeing a bit of profit-taking and reassessing happening when it comes to korean assets as well. to that effect you need to see one present in the first few minutes of so of trade -- or so of trade. we get some data, south korean trade numbers keeping the ideas that the first 20 days when it comes to albert exports daily, the number is rising almost 10% year on year, trade deficit of $2.33 billion, we are seeing exports falling just over 19%

year on year, imports i should say, exports falling 7.8% year on year, always an interesting day when it comes to product demand across the rest of the region and when it comes to the strength of the chinese economy and look at the breakdown for the korean export demand. we look at the southern trading and japan, -- we look at the trading in japan, they may not be saying the momentum in this session. the nikkei is down by .5%. stocks are treading water, nvidia has such a big part of that given we are expecting not just a swing when it comes to that particular name but also of course those associated with the rally we are seeing across japan, korea, taiwan, as well in the chip related stocks. holding pretty steady under the 115 level and we watch for repricing when it comes to the bank of japan expectations as well as fit expectations.

we have the japan trade numbers out a little bit earlier and the trade deficit there coming in and exports beating expectations up almost 12% given the broader economy. paul: let us look at how we are tracking in australia after the first hour of trade. we see weakness on the asx to the tune of .75 percent, the prophet minister seeing weakness there and we are waiting on rio tinto a bit later on and it is exposed to what is going on in the market, shares are off by 2.6 at the moment, one of the worst-performing big stocks reported, we have had a resignation of a ceo and the former petition regulator here in australia it retired 18 months ago said then tucci's parable -- the ceo's parable

interview may have prompted him to step down and that was a surprise. we have yields like this in the early going and the japan session, a little bit of an increase on the 10 year and the five-year as well. we have been hearing a little bit of speculation that may be the fed tightening cycle is not over and when you look back at jerome powell's remarks. the wars we are likely to have a peek taking on a whole new relevance. we have larry summers saying that there is a meaningful chance that the next move from the fed could well be up. let us get some more market analysis with steve bryce, group cio of standard wealth management, we will get back to some of those remarks earlier. i want to start with the nikkei which is when of the market darlings at the moment.

he has a price target of 55,000 on the nikkei. america has lifted their target to 41,000. what is your target? >> we still do not have a full target but we still see significant strong performance from the japanese equity market and outperformance and the overall story for us is generational shifts of investment, them ethically, investigating, shifting to equities, seeing inflation, not a problem, not negative anymore, broad topics, it does not make much sense. the shift from bonds into equity is coming, a key driver supported by a pungent reform and covered under corporate governance as well, this is the six or 12 months thing in japan, this is a longer-term play and you see the bank of japan, it will not get in excess.

paul: we are waiting on the rally, it has stalled out yesterday and today and the early going. is this -- do you expect a little bit of consolidation in the nikkei in the short term at least? >> the global equities generally see some risk, short-term consolidation. it is particularly relevant, it is extremely long. u.s. equities, look at market diversity, that is also fanning the risk of a short-term consolidation. from the s&p 500 respective, it is back down to 700 as the outside, that has implications for equity markets around japan. we still feel we are paying for a soft landing and lower interest rates and that should be an environment where equities

continue to do well after the short-term. haidi: according to one chief investment officer saying that 771 companies announcing this week that there is only one that matters and that is nvidia. how do you feel about that? it feels like it is not just of course, an existential moment but a promise to take chip and ai related names. the direction of the broader market? >> i'm not sure it is existential but it is very key, that data, the size of the company now, and the indications is the rest of the tech sector, particularly in the states, to be honest from my perspective, the ability of one company and it is fraught with challenges, it is nice to get out of the way and easily digested and move back to the macro top-down fundamentals back to individual stock but it is important, we

are all looking for that. we have seen some repricing in recent times and the stock and maybe we will see some rumors and i will have to wait and see. haidi: a lot of wait and see when it comes to the next direction for china, we started to hear murmurs no more positivity, investors willing to act quickly and there is a catalyst, do you think we are close to a positive change now? >> i guess at the moment what we are saying, we are seeing some action but not mind changing action from the authorities. we know that the market is extremely cheap and it is extremely under owned and the capacity for people to move over from tiny equities on these comments going through, from our perspective we would like to see more than the words and more significant action for a

sustained rebound and a downtrend, the course of the past two or three years, the chinese equity markets. i think it is dangerous being underweight, we are not quite in a category where i think we should be going our own way just yet. we are still waiting for the catalyst to get that and we will reevaluate. see the downtrend as of yet. paul: what does that catalyst look like? we had the five-year yesterday and markets shrugged their shoulders, what are you waiting for exactly? >> it is a really good question ended is difficult, i think what we would like to see is a coordinated rather than just snippets of this year and that they are, it is something a bit more coordinated. the key concern is to have the

risks of the inflation and the headlines, or the deflation is, to do it on a core basis and we are still mildly positive in the wrong direction. if we see stimulus plan, that is targeted, absorbing the macro challenges faced by the economy. the mortgage rate cuts, yesterday, it was a step in the right direction and i think this needs a bit more and stepping back and saying how do we address that risk? that probably needs more than just one measure, it needs a collective set of policies that will help mitigate that risk. haidi: steve, from the nvidia earnings wanted to ask about korea because we saw this market trading at a 21 month high, is this on a foreign investment sentiment? or is there a narrative that we are seeing with the governance and optimism we are seeing with

japan? >> i think, we have been overweight in equities within asia and that was on the tech angle. it was not very in corporate governance. i think korea has looked at what japan has been doing and achieving in those reforms. of governance and etc.. it has started to draft his own policies in the same guys. that was not the starting point for us but could help broadening out sectors. one sector that has been out beating korea has been the auto sector, governments there. and that leads to a reevaluation of the stocks and clearly that would be good for the stock market as well. something to watch out for, nothing has been formed, it looks like they are trying in japan.

paul: all right, that is the group cio of stanley wealth management. thank you for joining us. let us look at the market movers in the early going here, in asia we are seeing the big chip names in japan and south korea, easing off a little. this is something we saw in the u.s. as well, the release of nvidia's earnings casting a long shadow on the sector and we are seeing if nvidia's results can live up to the substantial height episode we are seeing retreat in chip stocks, here in australia we have had a large number of earnings announced today. sent us off by 1.3%, and a four year profit of 1.4 2 billion, bigger than 17.5. rio tinto up with numbers at the

end of the open and we are seeing they are declining 2.5%, rio more exposed than the other names to the iron ore price which is seeing softness over the past couple of days. will worth -- wooldworths ceo is stepping down, if you have not seen it you can find it very easily on the internet he had a horror show on local media , an interview that did not go well, he has announced he is retiring. another will take over results since september, sales for the half -- 4.5%, the interim day down $.47. the australia bank, down 70%. some see ongoing resiliency to

the australian economy. haidi: politics is always an overlay in a year like this and we are getting the latest when it comes to the u.s. vetoing the security resolution calling for an immediate humanitarian cease-fire in gaza. we are back at the singapore air show, with sebastian, we talked about strategy that brings electric global takeoff and landing jets to asia. -- electric takeoff and landing jets to asia. ♪ - 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.

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on security resolution backing a cease-fire in gaza as it pushes for his own efforts to stop israel's attack on rafah. eric is with us and this comes as a time as we see ministers removing the entire issue from their agenda, there is on the one hand a lot of condemnation of the humanitarian crisis that is unfolding and on the other hand no move forward when it comes to a consensus for one week -- where we go from here. >> that is right and it is not a surprise that the world is a bit split on this. the u.s. vetoed the on security resolution on israel as you mentioned and that is also historically not a new thing, the u.s. has vetoed resolutions targeting israel's behavior for decades now. fairly reliably. the line securely counsel also passed on a resolution that u.s. had put out talking about

releasing hostages in exchange for a temporary cease-fire. these sort of things are going back and forth and i think the g 21 thing you mentioned is interesting. brazil hold the chair of the g20 right now and brazil is often an escalating diplomatic entanglement with israel over comments that its leader made about israel's ongoing campaign in gaza comparing it to the holocaust. that has sparked a diplomatic rally. they have not backed off of those remarks at all. i would also note that candidly, if you are looking to the g20 to be of any -- a venue for this, this may struggle for years to come, after brazil which holds that chairmanship this year, next up is south africa which is leading the world court case against israel. the sword of heads of the g20

that are hosting these and gets to the agendas are some of israel's fiercest critics on the world stage but at the same time you have countries like the united states kingdom and germany and etc. who have been more supportive even if critical of the way that israel is going about its ways and are more supportive of israel on the world stage. paul: it will be interesting to see what happens when the g20 communicates, is it possible that there is nothing that gets said and what are the implications of the g20 of that is the case? >> it is possible that nothing comes out of that and it is possible that they just say there is no agreement that is reached here. the last g20 in india was a surprise that there was an agreement at all and over divisions on russia's or in ukraine, keith was actually

really disappointed with the way that the wording came out. the u.s. was happy that's only got agreed at all but it was harder to get a deal there than it had been previously. and may harder still here as positions ossify. i do think when you look at these conferences, these were conferences, a lot has been made on the overall agreements, look, i have been a part of our breaking news coverage for five g20's and i always find at the big news here is on the sidelines, not in the main event, it is very rare you are reading headlines on the terminal and they come from something that is actually said in the main event, far more likely it is from things on the sidelines. i think the sideline space is going to be the key thing to watch when we are talking about these big meetings coming up and the foreign minister said to me in rio that is what i am watching. are there any tangible advancements made there? as you quite rightly pointed

out, the main stage is likely not to produce much at all. haidi: we are watching for new sanctions and we are expecting to get more details from the u.s. on russia and of course we know that this is a reaction to what they say is the fault of vladimir putin when it comes to the death of nalvaney. they said last month that the country has been growing more than expected. >> that is right and the was targeted sanctions have had some effect for sure and it has been making life more difficult but russia has found ways around in a lot of different sectors, certainly use the reports of iran's partnership on weapons and there are talks about what russia has been able to do with china and with other actors in that space.

what i will say is that on the u.s. side, the number one thing the russians are watching for is ukraine aid. that is something billions and billions of dollars worth that has been held up in the you legislative -- in the legislative space. republicans have not said they would be willing to move at all on this. the house speaker is seeking a one-on-one meeting with joe biden to talk about how to move forward in this. we have been in this four months. months and months. there has been no form and progress on a two ukraine there. sanctions are one thing the biden administration can just do. they unilaterally make some of these things happen. when you are talking about a bigger thing, something that russia is more interested in, that requires a hold of government and bipartisan agreement. that has been really hard to come by.

paul: we have to ask about the support the u.s. is telling its allies in russia may put a nuclear weapon in space this year or if not a mock war here. this appends a lot of tradition -- up-ends a lot of tradition and the debris field it would create? >> there are a lot of headlines about this sort of thing that have come over the last week or so. i do think the u.s. has said for a wild at a going to be -- a while that space will be a friend here in global warfare, it is a thing that i think they may have been on the escalation. the u.s. stood up a space for us to talk about this. any sort of move to actually put operational weapons in space would of course be a giant escalation. there have been some conflicting

reports about exactly what russia's intentions may or may not be an if russia has come out and denied some of the more sensationally sounding headlines here. i do think this idea of space as a potential conflict, it is something that gets more attention going forward and you do rightly raise the risk that if you actually had something go on there, anything that breaks apart in an unscheduled manner, let us say that, it poses a risk to satellites and the things they provide. not least of which is gps and navigation systems. it does rather conflict if something were to happen in that space. paul: we have plenty more to come on daybreak asia, this is bloomberg. ♪

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paul: the foundation are being laid for the revival of an industry japan once dominated, in three years time it is intended they will be able to have a chip foundry producing two men a meter ships -- two nanometer chips. >> there are geopolitical and economic security factors involved, to survive as a nation japan needs to be a global main player with technology. they have demonstrated that with semiconductors. paul: with ai and advanced weapons development, the u.s. is encouraging its allies to shore up supply chains and limit the risk of reliance on time a -- china. >> due to the risk between china and taiwan we are not expanding in mainland china, we are building a large factory in thailand, germany and japan. paul: micron has been operating here for some time and with government-backed groups setting up, the idea is to build

hokaido's version of silicon valley. tsmc has a $7 billion factory teared up and another in the pipeline. the japanese government is pouring money into the chip revival strategy and there is a property boom as a result. >> companies and manufacturers have been moving out of the cities and we are beginning to see a return to japan. i believe this is the kind of business development i will give young people the opportunity to make different choices in their hometowns. >> japan has a shortage of skilled industry workers to move in once the construction crews move out. the hope is build it and they will come. ♪

shery: president biden is looking to create an eb supply chain using his inflation reduction act to do so. the move is designed to cut out china's influence over the global metals market. it's also made life difficult for u.s. carmakers. paul: for more let's bring in our reporter. what can you tell us about this? reporter: when we look into the battery center, the most expensive part of the vehicle, sources in the industry say it is definitely a nightmare, to reduce the reliance on chinese components. that's because it is technically really difficult to build a new supply chain. made in china components are really cheap and the technology

is also pretty good. even for china, it took nearly a decade to build on their own supply chain. that means it's going to take another decade for the u.s., korea and other makers to build a new supply chain, too. it could also be pretty expensive to build a new supply chain and that means that it's going to also slow down the ability for carmakers to produce cheaper electric vehicles. shery:shery: there are some companies trying to make that effort. >> yes. that's true. i talked to several materials makers seeking some raw materials made outside of china. we have other battery makers like samsung sdi looking for materials made out of china.

they are looking into countries like australia or the philippines or any country that has a free-trade agreement with the u.s.. but one big concern for them is we have a presidential election in the u.s. and that means the entire concept of the inflation reduction act president joe biden may change. that means they probably will have to change their whole strategy as well. paul: our global business reporter there. let's take a look at our tracking on markets in the asia-pacific. looks like we will not hit that record on the nikkei today. a modestly down day, off a quarter of down percent. stocks in korea, in positive territory. in australia, weakness for a second day running. a large number of stocks, reporting today. i want to talk about the aussie dollar gaining a little

bit. we just had the wage price index for the fourth order release. -- released. it came in harder than expected up 4.2%. the rba has said 4% is consistent with the two to three percent inflation target. the rba been forecasting broader moderation and wage growth. we have inflation starting to soften. the jobs market also starting to soften. there are worries of ongoing costs for employees. 4.2% is a little bit more than we were anticipating. let's turn to single board, where the second day of the -- singapore, where the second day of the singapore air show is underway. avril is standing by with our next guest. reporter: yeah, guys, we are talking all things aviation. the spotlight is on flying taxis. germany has big plans. it just made a deal with a

regional operator. let's get more from the chief commercial officer at liliam. congratulations on the deal with phil jet. what can you tell us about media priorities -- immediate priorities, operations across the philippines? >> the philippines is an amazing opportunity. it's a great country, growing tremendously. a lot of resources and new hotels coming up. thousands of islands, terrain. our aircraft will really help saving time in that country. we are starting with the helicopter operator. lilum. we think we can go much further than we are planning on doing. reporter: what can you tell us about flight routes being explored and price point as well? >> we are targeting regional air mobility. we will be beyond the flying taxis in the urban areas.

we will be connecting cities with each other. distances of 50, 100 kilometers is a perfect fit for our aircrafts. we are looking at city pairs in the world and connections to resorts as well to make sure we can deliver time-saving and value for customers. reporter: the other sprawling southeast asia region is indonesia. how closely are you exploring opportunities there? we have china making had waves in that market -- headwaves and that market. >> we want a bigger presence in asia. indonesia is a target for everyone. a lot of congestion as well. there are different requirements and needs for air mobility. you always have the choice of terrain as well. but train takes time to develop and a lot of ground. air mobility is the future for a lot of those countries. reporter: as you expand operations in china, what are

you exploring in terms of opportunities for cross-border travel and operations? >> we are talking to shenzhen, in terms of connection, and hong kong which requires clearance areas. there are countries in the world that would be willing to help, setting up those international boards to facilitate -- borders to facilitate the traffic and make the journey faster. reporter: what are you looking at in terms of the price point? >> you are right, very important. we are looking, first of all, first of all, at two markets on our side. lilium helps with helicopters, introducing the aircraft. a big supporter of the new technology in general. we are targeting something below cheaper. two dollars per seat kilometer. . you can address a lot more people. we believe we can do it by

2028, bring that price point. reporter: we are also looking at the development of lilium's jet. how soon can we see those advanced test lights and -- flights and certification? >> we have a lab doing a lot of battery testing, the testing of motors. we are starting to do testing. where building the -- we are building the first serial aircraft of the lilium jet. it will start ground testing at the beginning of the summer then late testing at the beginning of the year, then introduction into the world in 2026. reporter: all this funding is required, it's an expensive undertaking. what does the number look like? >> will have our annual report february 27th. we will talk about this.

looking at aircraft development, i've and aerospace for 20 years, it is seven years to go from scratch to the aircraft. we are already five years in. we have already raised $1.3 billion. . we will have to look at the next opportunity, like subsidies and also customers, we could use some of the deposit we are getting to fund the company in the future. reporter: just looking outside of the asia-pacific, what are the routes you are potentially exploring as you look at europe? >> europe's very important. we are certifying the aircraft with the highest safety standard, the same as you would see in a commercial airliner. we are looking at city pairs in europe. around the mediterranean, for example, southern france, italy, portugal. a lot of opportunities to create time-saving. any congestion in city pairs,

it can bring a lot of opportunities. reporter: so many light rounds out there that can be explored. thank you so much -- flight routes out there that can be explored. thank you so much for sharing your plans for the company. that was the chief commercial officer at lilium. back to you, haidi. haidi: we will have many more interviews coming up from the airshow later, including the ceo of pacific air. more to come here on "bloomberg daybreak: asia." this is bloomberg. ♪ when you automate sales tax with avalara, you don't have to worry about things like changing tax rates or filing returns. avalarahhh

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haidi: we are seeing a bit of weakness when it comes to trading here in asia across the region. traders are waiting for that one key earning in particular. the nvidia result. a lot at stake in terms of the potential of this tech driven trade right. we continue to watch for that record high for the nikkei 225. so looking at that december 1989 all-time high. it doesn't look like this is a session that will get there. a bit of weakness, point or percent, when it comes to treating -- .4%, when it comes to trading on the nikkei. we have seen that market trading at the 21 month high.

a little bit of profit-taking and readjustment there on a broadly lower day. big tech dragged the bottom market lower with skittishness ahead of the nvidia numbers. japanese stocks, putting on a second day of decline. weakness playing through to the rest of the region. including here in sydney. the asx 200 at .36%. it's been a bit of a mixed bag. rio tinto is due out in a few hours' time. watching for guidance on china, iron ore demand. kiwi stocks unchanged at the moment. trading exactly flat. the msc asia-pacific, up about a quarter of 1%. big earnings season across

the region of course. hsbc will be reporting later on wednesday, focusing on the new share buyback program and the economic slowdown in china. traders will be paying attention to any commentary around rate sensitivity during the earnings call. let's bring in our banking and fintech analysts in. what will you be watching for? reporter: we will be watching for the asset quality in mainland china. in particular for those in commercial real estate. we may also want to see if there are any comments on hong kong's asset quality. if we try to go back to the levels you have mentioned, investors are eyeing the possibility of a bigger share buyback program. the payout will be another

possible number. the shareholders return in december. paul: we are getting close to take rates. what will this mean for net interest margins? reporter: i think they have come out pointing to a more difficult year in 2024. interest rates could be one of the reasons there is a negative picture for this year. also the potential period of fed funds rate this year, we still don't know the magnitude, the situation. they are expecting a seven basis points decline in hsbc's margins this year versus last year. we need to wait and see more comments. haidi: as we break away from earnings season, we are looking

at this at the frame of comparing hong kong to singapore. taking a look at the broader picture, you put out a research note on this, is singapore in that position of strength we saw post-covid? reporter: singapore has been showing strength in the post-pandemic period. with stable economic growth, more multinational companies have been attracted to the city state. hong kong, of course, opens a bit later than singapore from the pandemic. but hong kong has been with more -- catching up with more flows from china. we might want to see more flows from china in 2024. paul: all right, senior analyst francis chan there.

we will have more on hsbc's learnings later wednesday. will discuss that at 1:30 p.m. hong kong time with known coin. 5:30 a.m. london. here are some corporate headlines we are tracking this hour. china's two main stock exchanges have frozen the account of quant hedge fund for three days after the partnership dumped $360 million worth of shares within minutes on monday. the move disrupted normal trading order. the ban as the latest move to reverse the slump in the stock entering a fourth year. citigroup's ceo's pay was raised to $26 million in 2023. awarding her $1.5 million in salary and $24.5 million in

stock base and cash incentive awards. she initiated what's billed as the largest reworking of citigroup in decades to make the firm more competitive. last month the bank said it would cut 20,000 roles in their bid to boost returns. bloomberg has learned they have found the whole of $241 million in the accounts of zee entertainment. the amount as some 10 times more than initially estimated by investigators. the issue is a blow to zee after the merger with its local unit collapsed. haidi: check out tv. deep dive into any of the securities of the bloomberg functions we talk about. become part of the conversation. you can send us instant messages during our shows. this is for bloomberg subscribers only. do check it out at tv. this is bloomberg. ♪

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paul: china's securities regulator says he will take heed of all suggestions and criticism from market participants and address concerns promptly. beijing is working to shore up the nation's stockmarket market after three years of straight losses. charlotte yang is with us now. is this going to move the needle

much in terms of equities prices in china? reporter: yes. the key thing we are watching today is the property sector. whether the sector will carry the positive momentum we got from yesterday after the surprising five-year rate cut enter today. the state broadcaster has said china has -- or chinese banks approved $17 billion of loans for projects on the white list. since january, the have already started the process going. we are watching the chinese bankers. one of the worst performers last year just got a fresh downgrade from morgan sachs. we are also watching the operator that posted a positive profit alert. yesterday popped up in investor conversations yesterday. the surprising chinese stock

exchanges have frozen the account of the company, saying they are disrupting the normal trading order. this goes on to show how securities regulators are stepping up the offers, putting a floor in the market. we have seen a different type of punishment on behaviors that could be hurting market sentiment. this is one thing to watch as well. haidi: charlotte, the 25 basis points cut was an unprecedented one. is this going to play through when it comes to market sentiment or build expectations? they will have to do a lot more. because we know that when it comes to the pass-through and transition of these things, perhaps not as impactful. reporter: yeah. i think at the moment,

expectations are definitely high. because the big meeting is coming up early march for the two sessions. that's where investors will really get a sense of the nation, the economic gross target. for now we are in this window where national team support will be important as well as the incremental measures we see from the securities regulator is trying to put a floor in this market. haidi: our asian equities reporter there. as we head towards the start of creating and hong kong, take a look at the stocks we are watching when the markets open in the next half an hour. a big day for earnings. we have been talking about hsbc expectations. hang seng and trip.com are set to report later, the numbers following the lunar new year

holiday. we are keeping an eye on asia cybersecurity stocks. they could decline after the palo alto network but the forecast for revenue and billing. also on the list, home depot reported a fifth day of comparable sales declines. we are watching the smart as well, paul. paul: chip stocks are performing around asia-pacific at the moment. we are awaiting the news from nvidia. discussing somewhat of a shadow over the tech sector at the moment. we are seeing some of the big chip names and south korea and japan. we will see if all of that hype around nvidia, if the reality lives up to that, when

we get going in the u.s. later on. it's been a big day in australia for earnings as well. a lot of companies were. let's start at the top of the list. the oil producer had the full-year profit mix. or $.2 billion on the year. saint-saens shares off at the moment. before the open in london, we are seeing a decline to the tune of 3% having to do with the softness we are seeing in iron ore prices at the moment. that story, very closely linked to the lack of demand coming out of china. well is an interesting one -- woolworths is an interesting one. one of the worst performers in terms of numbers. the interim dividend, $.47, was a narrow mess. the big news is the ceo

announcing he is going to retire. amanda bardwell will take over in september. it was an absolute horror show of an interview and local media this week, with questions around competition in the supermarket space. the national australia bank, meanwhile, sees ongoing resilience in the aussie economy. haidi: a busy week for earnings. that is it for "daybreak asia." a big earnings day for the markets as well. stay tuned for the china open. this is bloomberg. ♪ that first time you take a step back. i made that. with your very own online store. i sold that. and you can manage it all in one place. i built this.

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