annabelle: this is daybreak: asia counting down to asia's major market opens. i will want to discount korea but my focus is on japan tracking a rapid ascent in the nikkei to do to pass the key 40,000 mark with futures very much indicating that will be happening. haidi: i am sure a lot of investors in south korean equities have been looking keenly at this hoping that it is a trajectory and unlocking of value in korea follows. we are watching development in beijing with the political pageantry and also the twin sessions, cc ppc and nbc taking place. but 40,000. annabelle: that is a level we will watch closely here. the up and -- open for japan, as we said the nikkei 225 level today. within a whisker, rather, just passing the 40,000 mark a key psychological level we have been

tracking here defying concerns for investors. we have seen a big advance from the 18 -- 1989 peak from last month's and onward past the 40 saddles and -- the 40,000 mark. despite concerns investors thought the gains were too rapid. you had the rsi above 80. it has been above 70 for almost three weeks now. certainly in overbought territory, perhaps, from that indicator. still we are above the 40,000 mark for the first time, very much erasing taking us all back to the levels we were at, as we said, during the early 90's when you had that bubble bursting. japan, the gains you are seeing in the session, the nikkei up point data presented broadly. we will be watching that one. to holding around 150. we know that that weakness -- the yen weakness has been

supporting japanese equities given the large number of exporters. company profits up 13% on the year end sales as well increasing, and positive indicator lending to japanese equities. now, not to forget. . as you said, japan, the focus on corporate governance reform, korea wants some of the same. they were getting focused on that's as well. the kospi continues gains and the korean won a little firmer as well, just a signal of the level of risk tolerance we have in markets right now. let's bring in christie 10, aipac investment strategist at the franklin templeton institute. i am interested, then nikkei two to five reaching that key 40,000 mark for the first time ever. what do you think about the gains so far? are you concerned that it has been too far too fast? christy: it is amazing how japan

went from the most unloved to now i think one of the most loved equity indexes across globally and, of course, the asia pacific. i think that this has to do with a lot of the positive developments that have happened and keep happening. we saw how profit levels of japanese companies has been on the up and going from strength to strength as well. and manufacturing activities are also more upbeat. at the same time, i think if you look at the developments that have started to manifest, including the increase in wages, corporate reforms development. and also i think, sustainable inflation that could support the overall policy change, policy shift, from a negative interest rate policy to normalization. i think that these are continuing supportive factors for japanese equity markets.

at the same time, look externally. there is also the reality of unattractiveness -- the relative unattractiveness of, for instance, chinese markets. also, i think that flows of investment funds are looking for opportunities across the space. this fear of missing out, given the irrational exuberance in the u.s. equity market is probably widening across to the asian pacific region. annabelle: how long do you think that would persist? i'm curious as well, when you look at the inflation outlook, we just had local media in japan saying japan could consider calling an end to deflation. that could also factor, of course come into the boj thinking. how do you think that central bank policy shifts are likely to play into that market dynamic? we are definitely looking at a

potential shift. again this will be a structural possibility. in that case, timing is a big issue. but sometime i think this year, and this is largely within a lot of investment analyst expectations, that, you know, the boj will, at some point this year, actually shift towards removing the negative interest rate policy. then what is important is whether or not this is priced in. from what we have seen across the equities complex in japan, you know, possibly, 40,000 being reached for the first time, potentially going from strength to strength, it is still a possibility. especially when we see that, you know, the policy shift and in the boj actually signaling that has already started to happen. and at the later part of this year, there is definitely a possibility for that.

haidi: if you look at what is driving the rally, the momentum factor for japan has been getting stronger and stronger. the winning strategy of buying stocks doing well. are we starting to look at a more polarized market, though? there is starting to be a pretty big applicant comes to stocks that have rallied, continue to rally, and underperformers that are bully starting to lab. christy: we are definitely looking like that across the region. if you look at how india vietnam, and also, now, japan, these have shown that relative strength that aipac command and the attractiveness of emerging markets versus, perhaps, some of the opportunities in the developed markets. so, going ahead, the divergence is a reflection of how the market sentiment is placing -- playing out in regards to the u.s. where there is narrow

leadership. in the u.s. there is the magnificent seven. in japan increasingly investors are actually talking about the seven. there is a momentum starting to build up across the asia-pacific region. we aren't seeing investment opportunities, and this is from the survey we are doing across our franklin templeton complex, we have actually surveyed and received survey results from 300 investment professionals within the company that shows that going ahead, we are expecting that some of this narrow leadership to broaden outbound as well as -- brought in out and not just as well in terms of equities, given where we are seeing fed policy and where rate cuts will be. we expect global growth to be slower than consensus across all

major regions. at the same time, recession will be avoided. inflation in the u.s. will continue to moderate. some of these factors are actually driving investment growth potentially to fixed income. haidi: we are watching south korea very closely because obviously regulators there want that market, the reforms to follow the trajectory we have seen for japan. but, the response from investors to the corporate value of program has been lackluster. do you see south korea being able to above the date in so far as it has taken over a decade for japan, this level of success? christy: there are opportunities within south korea that prioritize the technology space. this continues to be acres -- a key support for the south korean investment and opportunities and asset classes.

at the same time i think you are right. in mentioning that the gap between korea and japan could be widening and get wider. i think this has a lot to do with also the challenges south korea is facing. i think that with the u.s. reelections happening this year, there will be a lot of geopolitical concerns that will also drive a lot of selectivity in terms of whether or not korea will actually outperform in this case. with what is happening across the headlines, of course, with the situation within the medical profession, that is also manifesting. i think that will be a drag on sentiment somewhat. but, we do not expect any kind of a structural negativity that will actually affect south korean assets significantly. i think there's still a lot of that tech possibility and,

potentially, i think, the continued maneuvering of the south korean technology companies towards the tech sector will be a key driver that will support korean assets. haidi: what do investors want to hear from leadership this week as we kick off the two sessions? is there anything that could consolidate more confidence including the gdp targets? christy: well, china is definitely at a juncture where policy authorities will have to send the right communication messages across. i think they will. i think the best -- the base case is that the nbc extra sessions happening this week that will probably end by the middle of this month well --

will see that the baseline growth of around 5% target. and also, at the same time, to achieve that i think that not only shows the conviction of chinese authorities to maintain that growth policy, but at the same time, there will have to be more growth supportive policies and measures that will have to be implement it. i think that, in this case, is a vote of confidence for investors. chinese authorities will be more. we are starting to see that already happening since january. so, the pivot, the policy pivot we are expecting, and i think markets are looking for that, about a 5% growth target. around a 3% inflation expectations and also at the same time, more fiscal policy measures that will support the overall growth momentum. i think that will be in place

and what markets, investors, will then look out for is that these policies actually get implemented. more supportive fiscal and monetary policy directions. this has to be communicated. we think it will be. at the same time, i think that if you look at then, the kind of fiscal spending for this growth target to materialize, it is probably around 3 trillion yuan-4 trillion yuan of policy measures. annabelle: christy tan thank you. china is set to announce is 2024 growth target and outline its strategy for supporting a slowing economy at the country's top annual political gathering this week. our chief north agent correspondent stephen engle joins us live from beijing. we know it will be around 5% perhaps.

still it means we need to see a lot more supportive policies coming through. stephen: yeah. are we going to see a lot of supportive policies coming through? i think they will talk a good game. obviously over the next 10 days or so of the national people's congress that begins tomorrow and probably runs through about the 11th. we don't have the final date yet. of course today is also the cppc the national advisory to the people's conference. that's why we are here previewing this. as of the last guest rightfully said, the world, really, and, investors are looking at china to see what kind of forceful measures might come out of this two sessions to stimulate and restore confidence. i agree with the guest bed said implementation will be key as well. as -- so far xi jinping and

collective leadership in beijing has avoided the big bazooka approach. yes, we have had the national team come in and support the stock market what it was wobbling at the beginning part of the year, february was fairly decent month for equities year in china because of the state support and also the property market. we saw banks essentially cut the loan prime rate, the five-year tied to mortgages. so, that was a good step. but collectively it is not a big bang and we are wondering whether there could be more property measures to support and put a floor on this sinking confidence and the situation for developers. and also, restore confidence in the private sector. it has been absolutely battered, obviously. if you go back to 2020 with jack ma added the collapse of the and ipo and then the restructuring of alibaba. keep in mind, the private sector in china essentially accounts for 60% of national gdp and 80%,

essentially, of urban jobs. that is a key component. you have to keep the young and recent graduates employed. that is a struggle going forward. so, there is a whole list of problems in the chinese economy right now and we are looking for signals that they will be at least supportive in both fiscal policy, perhaps, even more, monetary easing as well as just confidence and measures going forward. haidi: investors are looking for physical expansion and physical easing and at the same time you have heavily indebted provinces. what does that mean for the discomfort of trying to support the flagging economy versus what local governments do? stephen: yeah. i mean, that is why we will really be looking at the work report tomorrow at the beginning of the national people's congress from the premier. his marching orders to the provinces. so far, in years past, in times

of economic pain there would be stimulus going forward in the form of shovel ready projects at the municipal and provincial level. really, to stimulate growth in that form, on the fiscal side. but again, that has incurred a lot of debt at the local governments. the local governments are in fiscal distress in many cases. or, strained, i should say. i am not saying they won't necessarily default, but keep in mind, property troubles in china really exacerbates the fiscal situations at the provincial level because land sales have fallen off the cliff and that is a huge part of how they get to refill their coffers. so, what we are hearing is essentially that xi jinping mentioned this 128 times last year. he wants high-quality development that is essentially sustainable and this boom and bust cycle of incurring high debt at the local level is not

something he wants to exacerbate further. they are constrained. the central government is trying to remain constrained. in adding to that debt load. at the same time, everyone is saying, we need something. annabelle: that with our bloomberg chief north agent correspondent stephen engle in beijing. stay tuned for the very first edition of bloomberg's the china show coming up in the next hour. it is your definitive source for news and analysis on asia's largest economy from politics and policy to tech and trends. we have in-depth discussions with the newsmakers that matter. to try to show from yesterday at 9:00 a.m. in hong kong, shanghai, and singapore. there is plenty more to come on daybreak: asia. this is bloomberg.

haidi: opec-plus is extending supply cutbacks until the middle of the year. let's get more from our energy and commodities editor andrew james. focus about -- talk to us about what jumped out to you and is a difficult environment this group is facing when it comes to trying to predict market dynamics for this year? andrew: yes, so, about 2 million barrels of oil a day cap's were extended through the end of june, pretty much widely expected by the market. a couple interesting points. first, the saudi's account for about 50% of that cut. they are under a lot of pressure. self-imposed pressure to keep the oil price high given they need a price of around, and average price around $90 per year for this year to balance

their budget. finch came out with that estimate a few weeks ago and that is as they build futuristic cities, host sports tournaments, pay top footballers a lot of money. they will have to work quite hard to get the oil price up there to balance the budget. the other interesting point is russia, which has been given a special exemption gets to mix production cuts and export cuts with its quotas. they have said they will focus more on production cuts and that will allow them to keep exporting more to fund the war in ukraine. >> we have not exactly seen good compliance from russia and other producers as well. do you think we will see better compliance moving forward? how is that likely do play into the broader oil markets especially if we see cuts extended even longer?

well, compliance is always an issue. the smaller members have a history of not complying not well -- that well. at the bigger issue i think for opec-plus is we have surging production from outside the cartel, from the americas, particularly the u.s. and also brazil and gion a. -- gianna. though oil prices have been on a slow but steady ascent of this year the extra production has capped the gains. we also still have a bit of a middle east war premium in the price. transport costs have gone up as tankers are diverted from the red sea and the suez canal and they have to go around africa. that's pushing the price of a bed. this sewage and production outside opec-plus is pushing it down and in the demand outlook is not looking that great particularly in china.

so all those things mean it will be tough for opec-plus to push up prices. there is a trade-off here because as they keep reducing production and production from other places surge is they will lose rk share order they are already losing market share but will lose more. that will come to more of a head at the next meeting in june when they are deciding what they are doing for the rest of the year. there will be pressure particularly from smaller members that don't want to keep cutting out product but at the same time you have the saudi's under self-imposed budgetary pressure. annabelle: that was our energy and commodities editor andrew james there. there is more to come on daybreak: asia. this is bloomberg.

haidi: the leaders of nine

southeast asian nations and australia are gathering in melbourne today. bloomberg's paul allen joins us for more. china is looming large. paul: very much so. this forum is in many respects about countering china in the region and i think you can put the agenda into a couple buckets. on one hand, economic and on the other strategic. on the economic side there is always an interest in growing trade. taken as a block asean's australia's second largest trade partner and there's an opportunity for australia do to participate in a green energy transition as well. the strategic side is more nuanced. we had the philippines president arrive in the country a little earlier. australia and philippines signed a pact on maritime cooperation and this is obviously with an eye towards south genesee. that the south china sea. vietnam is looking to sign a traditional relationship with

china as well. annabelle: a lot of countries are represented but myanmar is not one of them. paul: right. and mark is a very repressive military regime. it has been three years since the military seized power their and their short-lived democratic experiment in myanmar ended. australia did not invite myanmar. but, it will be represented by the diplomatic embassy staff instead. some human rights groups are still pretty critical of that. of course, australia is not a member of asean so it can't really dictate one member can't come, so this is a compromise, really. it's emblematic of the way asean works. binary outcomes tend to be avoided. there is a culture of consensus and it is very multipolar. another example is brunei. brunei has been operating under a state of emergency for 62 years now but nobody really

talks about that. that is pretty much how asean tends to function. annabelle: let's check on markets. about half an hour into the session for japan and korea and equities, the headline we are tracking today is the nikkei 225 reaching to keep 40,000 level for the first time ever. very very strong momentum in japanese equities. it's opening the door to further gains in the historic rally. when you look at rsi, now around 80 level. that's also a signal we are looking pretty overbought. where markets reached a record that tended to be stuck in a range and that is something else we can be tracking as

>> just dropped here. this is the february 1. coming in at 50.7. 51.2. seeing it dropping into 50.7 in the latest reading. south korea was shut for a public holiday on friday. on balance, we did see a slight deterioration. that detracts what we had seen in other economies in the region. haidi: we are getting some data coming through from australia. building approvals. month on month, we are seeing a contraction of 1%. the survey landed at a 4% gain. it narrows the contraction of 9.5% we saw in december. january's reading seeing contractionary territory at a

time when we are seeing home prices continuing to accelerate in australia. extending gains in the environment of elevated interest rates. we had seen population growth spiking. new housing construction continuing to slow down to that is what we are seeing in the building approvals. try to sector houses seeing a full of half a percentage if you take a look at the december numbers for building approvals, revised lower to 10%. potentially the supply situation is going to create even more of a momentum play when it comes to home prices in australia. this is what we are watching when it comes to broader training. it is all about japan as we see the advance over the 40,000 level for the first time. it did not take us long to get there when we were starting to either gauge in the letter half of last week. this opens the door to further gains in what has been an

historic rally chaired tech in particular. chip making producers as well as the adjacent names have been helping the gains over the past year. some of the best performers in the session. the broader topics index advancing. that is 6% low its record high for more than three decades ago. before the bubble burst in japan. some ways to go before we get there. take a look at some of the upper foreigners. high next, samsung in korea. watching korean stocks as it tries to replicate the reforms that have finally begun to pay off in japan. investors will cautious going into the start of trading in greater china given it is a big week. global markets watching for any kind of policy delivery. fresh policy direction for the chinese economy which is good doing to face property market

turmoil, weak consumer confidence, deflationary pressures and the overlay of geopolitical tensions. bloomberg's north asia correspondent out letting the priorities at this year's two sessions. >> early spring is cross current in beijing can be tough to read as china faces a host of economic headwinds ahead of the national people's congress pit with property market turmoil, persistent deflation, destabilized geopolitical ties and a rocky stockmarket, simply put, it has not been a good first year for president xi jinping since taking a precedent busting third term. so far state directed funds have mobilized. beijing replaced the head of the securities regulator and cracked

down on militias shortselling. banks eased a loan prime rate tied to mortgages and consumers came back and spent mightily during the week long lunar new year holiday. the spring festival number since pre-covid. was it only enough to turn the winter bears into spring bulls? >> 2023 has been an unfortunate confluence in a of deflation and de-risking. this year the policymakers want to go back to reflation and reform. >> in terms of the ability of the measures to change the market sentiment, we are slightly more cautious because what is needed is a change in the inflation outlook for the country and the overall sentiment in the private sector. >> you have sentiment which is rock-bottom should the issues of policy credibility in the market. >> the growth engine, manufacturing and investment led. those might help to get to the growth target in terms of the

dynamism and the more sustainable type of growth, we think it still needs some work. >> the attention as we are here in beijing turns to the premiers work report of day one of the national people's congress. >> looking for the government. we want to say, can we go back to more like what china started this reform in the 1980's? the private enterprises, the right incentive to -- >> wishful thinking for global investors who got burned by multiple stresses on china's private sector including covid zero and a regulatory take town of big tech. >> we started getting nervous about china when jack ma was halted. for the past year and a half, we have had no explanation.

>> the world is watching beijing's next policy move perhaps at the npc with great interest. haidi: let's bring in a fellow with the center for china analysis at the asia society institute. it was said the structural reforms could be painful. are we to believe a painful structural slowdown is what china needs ultimately? >> it is a great question. i think it is clear from what xi jinping, the overall leader is doing. he recognizes china needs to change its growth model. the chinese government itself that started the property wobble of the last few years through the three red lines policy. they know there is too much with the economy focused on property. focused on highly leveraged debt activities. he is trying to change that. the danger is you blow up the

broader economy, the financial market while you are trying to do that. there is a big question about, can the policies president xi has put forward, can it solve the problems? vectors and private sector to have been -- investors and private sector have been burned by unfriendly policies over the last years. haidi: it wouldn't take much for the blow up because sentiment is so horrible right now. how careful do they have to balance the gdp target issue? around 5% is consensus. if they said it too high, they could miss it and they have to follow it up with fiscal support which does not play into the longer-term goal. what is the best approach? >> another great question. 5% is the consensus. it is the same as last year. if that is what is announced,

that would be a more ambitious target given that 2023 was a recovery your after the very poor performance of the economy in 2022 with a height of the covid lockdowns shared that those just if it is 5%, there will be a bump to fiscal stimulus, maybe slight monetary easing as well. if it is a more ambitious target, that would be hard to meet that it would suggest someone of a change in thinking in terms of how much stimulus the central government is willing to tolerate compared to the reduced debts. that would be a positive sign for short-term growth. there is the possibility of a lower target around 4.5%. that suggests keeping the long-term debt situation under control and advancing other regulatory priorities is going to be more of a theme in what will be a tightening year. -- a belt-tightening year.

annabelle: given the base effects in play does make any gdp target difficult to meet as well as because the assessment as they going to avoid any bazooka style stimulus. do you think social instability is something we are going to be discussing more over the next 12 months? the potential for more social instability is increasing. i also think like the years and decades past, we cannot underestimate the effectiveness of china security state. it is something that is a high priority for the regime leadership especially under the xi jinping era. the security services, ministry of public security and state security are getting better at what they do. they are learning how to use new technologies like the internet but also artificial intelligence to improve their techniques. for suppressing but also

resolving social tensions. i don't think we are likely to see a huge national, international news type level of social instability. more the headache for xi jinping to manage. annabelle: when you talk about tension, there is always the cross straight tensions. what are we likely to hear around taiwan independence? >> the two sessions and the government work that the premier delivers is usually not a setting to announce any new policies on taiwan or foreign policy more broadly. that is more the business of the communist party and xi jinping who leads foreign policy. there are always a few lines on these issues. a watch point for this is whether the premier repeats the top taiwan official -- with the top taiwan official said at a recent conference about fighting

rather than just curbing or opposing so-called taiwan independence to use the party's own language. the wording of fighting. the highest level that would have been presented in any party state official context which could signal toughening of the coercive and intimate a tory measures -- intimidating measures beijing is trying to use to ensure the incoming taiwan president does not go beyond what beijing sees the status quote to be. the status quo to be. haidi: how much bang is there for xi jinping when it comes to hawkishness and how much does that depend on what we see from the u.s. in terms of whether they continue supporting ukraine and who wins the november election on what beijing's next moves toward taiwan might be?

>> this year, chinese foreign policy is in wait and see mode. they will lash out and react if the premier goes beyond the current situation in terms of the policies his predecessor has laid out before. taiwan is the core of the core of the communist party as they would put it. in terms of the broader policy settings and especially if that does not happen in taiwan, the focus is on waiting and seeing until what happens in november in the united states. you're in a moment of stabilization in u.s. and china relations and that helps beijing have a breather on the pace of u.s. economic controls vis-a-vis trade and investment and technology in the u.s. china relations. that helps to create more positive atmosphere in general for foreign investment and

domestic investment. the top leadership want to keep that going for at least this year and see what happens in november. if needed, readjusted to a new administration. annabelle: that was the fellow of chinese politics for the center for china analysis at ages society policy institute. the hardest -- the hottest weekend destination for hong kong orders has become shenzhen, the chinese city just across the border. costco and sam's club have in particular drug card. many young people who once protested against beijing's influence over hong kong are headed to the mainland for cheaper dining and entertainment. let's get more from our china economy editor joining us. it is quite a incredible change when you think about the protests that started in 2019. what is it behind the cross-border lifestyle we are seeing?

>> we are seeing a record number of hong kong orders crossing the border on weekends and holidays. some hong kong bars and restaurants complained they used to look forward to weekends in another a dread it because the bars are empty. restaurant bookings are down. it is happening partly because -- for a number of hong kong or's who cross the border, they used to protest china's integration of hong kong. the influence of hong kong's politics. and now they are not exactly embracing it. they have this profound sense of apathy and indifference after the crackdown on security in hong kong than in their view eliminated all hopes of reform. they told us they might as well go across the border to seek bargains like many other hong kong nurse. shenzhen has always been cheaper than hong kong. there've always been great deals across the border. it has become more appealing because shenzhen has become more prosperous and a lot of the shopping options have diversified.

the boom of infrastructure in the previous 10 years is paying off. going to shenzhen takes only 20 minutes. that used to be an hour-long trip that requires taking the train and maybe the ferry and other connection transportation. haidi: in what ways does this matter? there are negative implications for hong kong. >> the economist estimate that shenzhen is spending up to $84 billion in retail services. that is 15% of money they did not spend in hong kong. restaurants and bars don't like this. there are local politicians and economists suggesting it is posing a departure's tax on hong kong residents leaving the city to protect the local economy. this has also been an urgent call to local leaders to figure out how to but our track towards him. hong kong tours and to shenzhen

and the rest of china hit record highs. the reverse has not been true. we are seeing travel numbers from mainland china to hong kong is still below the 2019 level before the covid isolation. annabelle: our china economic government editor joining us. you can get an inside -- in our hong kong newsletter every thursday. sign-up via bloomberg.com/newsletters. plenty more to come on daybreak asia. this is bloomberg. ♪

annabelle: the resilience of asian demand for luxury demands will be in focus this week as product reports its fourth-quarter earnings. let's get more from a breaking news specialist. the big focus on product, hong kong listed. what is it going to tell us about the man especially from

mainland china? >> prada is expected to report earnings on thursday. expecting a 40% profit growth. a whole new class of people that are able to spend on things like luxury handbags from prada. one interesting thing we are seeing is a lot of the demand is coming from japan. a couple of reasons. one is there is underlying demand from a region like japan. also because of the weaker yen that has made it cheaper for tourists to buy luxury goods from japan. the price differential between buying stuff from europe and japan is narrow. something reflected any other luxury earnings.

that is something we expect will play out with prada as well. haidi: do we take broader signals from the performance out of prada when it comes to consumption trends across asia and what we are seeing across those demographics? >> prada is a luxury brand. it is not fair to extrapolate that to broader asia but we are seeing a fair bit of divergence. jd.com has -- is expecting to report earnings later this week. it is expecting to report its lowest revenue growth in a decade. the reason for that as it is heavy exposure to china. as you spoke about, there is a lot of economic troubles going on. one of the side effects of causes is the dampening consumer sentiment. we are seeing a sharp divergence between how luxury retail has

been performing versus how the mass-market retail is expect to perform. haidi: our breaking news earning specialist. more ahead here on daybreak asia. this is bloomberg. ♪

annabelle: big milestone on bloomberg television this morning. so the minutes from now we will have a new show starting today. this is the very first edition of the china show with yvonne man and david ingles. yvonne is here now. new show but what a week to start with the mpc opening. yvonne: it is a crucial week so why not launch? david and i along with tom mackenzie in 2019 when we launch the china open i remember those days and how exciting it was. we were still building up to the momentum with this show. we are going bigger and we are going to be better too. we are going for a full two hours now. it gives us a chance to breathe and let the stories we talk about let people digest and look at a deeper dive into big conversations. it is not just the news of the day we are going to target. it is going to be about parsing through local media. the statements that come through. what is trending. it gives us a chance to talk

about the deeper issues in china. mpc and beyond. annabelle: get the pulse check as well. haidi: you know how excited i am when it comes to more things on all things china. there is no more critical time than now to be spending more time adding this analysis to come up with the answers to the bigger questions. the economy is slowing. what does this mean for investors in the long term? the geopolitical tensions as we get into potentially a different u.s. president and all those things that get thrown out. yvonne: there is a lot. we are going to have key newsmakers and throughout the week to get through those themes. it is not just the macro. it is some of the domestic concerns we are dealing with. the u.s. china relationships. to count down to the u.s. election in november. we have a big lineup. today kicking things off is

george son from bnp paribas. then we have the best of the best when it comes to china equity strategy. conjure lower from goldman sachs. when he will from bnf securities. slightly different views on the china equity market. it will be interesting to put those together to talk through what is to come this year. annabelle: the china show every weekday with yvonne and david. the show launching at the top of the next hour. that is it for this hour of bloomberg daybreak: asia. the new show just ahead. ♪

i think he's having a midlife crisis i'm not. you got us t-mobile home internet lite. after a week of streaming they knocked us down... ...to dial up speeds. like from the 90s. great times. all i can do say is that my life is pre-- i like watching the puddles gather rain. -hey, your mom and i procreated to that song. oh, ew! i think you've said enough. why don't we just switch to xfinity like everyone else? then you would know what year it was. i know what year it is.

yvonne: you are looking at live pictures on the ground in beijing where leaders are gathering for the most important political events of year. policymakers send a progrowt