live pictures from taiwan where newly inaugurated president lai will deliver his first speech. i'm hustling to. asian stocks set for a seventh day of gains as china shores up its property margate -- and they go to the polls as they question why official turnout figures have been revised higher. of course, we are waiting for the taiwanese president to speak imminently, his inaugural speech. investors are looking for signs on how he will navigate

relations between the u.s. as well as china, once get to stephen angle who joins us from taipei. this is an important speech steve. stephen: yes, it is. it is his first as the president, there he is with his wife coming out on the stage. before the joint ticket was the joint ticket. according to analysts, that may be more of a diplomatic role in addition to the foreign minister now. were waiting for his speech likely to be around the themes of building a democratic prosperous taiwan. it will be a continuity term,

third term for the democratic progressive party after eight years. he is likely to talk about bridging the political divide, building solidarity and also continuity president will bring stability. he is likely to mention something toward cross strait relations and reaffirming that neither side is subordinate to the other so we are waiting to get the town of the speech and specifics about how his term in office might be different. has linda: stephen angle in taipei, we thank you and we await for the speech. we have an alert from the iran state tv saying no sign of life

inside the helicopter. they're missing after helicopter crash after a visit from the northeast, we know he was flying in bad weather. iran tv says no sign of life at the helicopter crash. just to recap, the helicopter has been identified. let's get to john who has been following developments. the very latest? john: >> five bales -- he reported that the crash site had been found, they've been searching for hours and if the report is true, we are going to see some difficult times ahead for the middle east. internal politics at play,

greater picture with the gaza situation, iran has been a key player, seems like a lot of developments but of course these are initial reports, the first that there is no sign of life and we had a report that the crash site had been found after a search. haslinda: we heard from iran's supreme leader saying no disruption. put that in context. john: they are trying to portray stability in the country with the leadership and of course the supreme leader wants to show there will be continuity but it is difficult to say if reports are true and there is a crisis,

it will present difficulties whether iran or any other country when you have someone at this high level it creates difficulties and going forward as to how the leadership and vacuum will be filled. haslinda: might there be implications on the israel hamas war, hamas is backed by iran. john: yes, it is too early to say, depends on if there is any change should, how the leadership will see the situation if it is looking at initiatives for a cease-fire fact by the u.s. and others. it is difficult to say but this could be a aspect that fits into a dynamic.

this is all preliminary and muse is moving fast. plus linda: we thank you so much for your insight on this developing story, we will keep you updated. we discussed chinese markets in the government's housing clamp. an unbalanced recovery. dsp mutual fund shares the biggest risks. this is bloomberg. ♪

♪ >> we are live in taipei and the

new president is speaking. let's listen in. >> [speaking taiwanese.] haslinda: the taiwan chief president. he is expected to say he is urging china to stop intimidation. let's look at markets. asian market up for the seventh day after stocks reached a record high.

expectations of the fed cutting, driving sentiment. boosting the asia pacific index, it was hired by 7/10 of 1%. in the u.s. dollar is stable. in terms of gains the nikkei to 25 is up high .5%. let's bring in mark cranfield. priddy rosie one might say. >> you've got a situation where the fed is moving toward a rate cut but you don't need to worry about rates going up. you got the central bank with a rate cut in june and maybe july so that something for markets to look forward to.

think of england will be close to the time of central bank lowering interest rates. got a dovish hold, people expecting the economy rates to come down and a situation where central banks are fueling optimism in markets. dollar is stable. bank of japan is moving slowly so i macro point of view things are looking good. china is getting serious about the property sector. not too much going wrong. auslander: we talk about taiwan and a heightening of tensions, it seems like investors are under pricing risk.

mark: taking market positioning does not play up so people take outright positions and the not rewarded. we seen it to the days of north korea, we hardly ever see that reaction these days. investors have been burnt. if something serious develops you can bet markets will respond after the event rather than before. auslander: expectations are so high, so much room for disappointment. >> not many can move global markets and nvidia has risen so much, many people are involved in it.

ai is important. investors have seen this as a point to remove from the market. starting to reduce. certainly this time the bar is high for nvidia to beat earnings. auslander: a pullback would be detrimental to market sentiment. how much might we expect? mark: they could create a setback in the market, when it moves we've seen the market cap changed by 200 billion, substantial these days. some companies do not even value at that. they have to wait to drive markets. haslinda: china is boosting sentiment.

measures supporting the property market, is it enough? some say it is a drop in the ocean, what is needed? mark: earlier today on bloomberg they said the numbers on the surface don't look significant. got people expecting seven or 8 trillion worth of measures, not one trillion. shock might be better in a huge number that impresses the market, they've started small and may work up to a bigger number. auslander: thank you. queens college president mohammed says the fed delay of rate cuts runs the risk of falling behind the curve. he says it is the real economy

that will force the bank to pivot. mohammed: we are too influenced after global financial crisis. we believe low interest rates are the norm, not exception. we believe inflation is not an issue. fedde pivoted on the basis of data, the opposite of december when they pivoted, now they need to do a u-turn. as they say hire for longer the market, you saw what happens. there are two really problematic issues that we are not talk enough. how sensitive are stubborn components, not theory. what indications are regarding of the economy weakening?

once again, the fed will pivoted not on inflation, but real economy, will pivoted again and then a big issue and i insist i understand, the inflation target. we all talk about 2%, every quote assumes 2%. it is totally arbitrary. i understand why no one wants to talk about this but we should realize if we pursue the wrong target, the whisk of a mistake and that mistake would mean sacrificing growth. lower income people. huss linda: cambridge president mohammed. you can follow more on our markets live blog.

get a run down, you can find out what is affecting your investments to help. what is happening now is the president of taiwan is speaking and we know he is urging china to stop intimidation and urging china to maintain peace. let's take a listen. >> taiwan is highly ranked. democratic taiwan is a global beat. this honor belongs to the people. as we move my administration will use taiwan's democratic

fatality to deepen international cooperation. i will value mary talks he, practice democratic governance and establish in the spirit of transparency in the people, encourage the populace to participate and will promote the voting age of 18 and we will fulfill our vision for our nation. as for international affairs, we will work with other nations to form a community and share experiences. we will combat disinformation, strengthen resilience, address challenges and allow taiwan to become the m.v.p. of the democratic world.

peace is priceless and war has no winners. next year will mark the 80th anniversary of the end of the second world war. taiwan has a difficult path for revitalization. no one wants achievements destroyed by war. russia's invasion of ukraine in the conflict between israel and hamas shook the world and china's actions and coercion are the greatest challenges to global peace. taiwan is positioned in the first island chain and what affects us affects geopolitical development. taiwan is a guardian of world peace. now in 2020 four, taiwan's role

is more significant, there is a strong consensus that stability is indispensable to global security. to adapt to today's complicated landscape, countries have been cooperating to maintain peace and stability. last month the u.s. made into law the supplemental appropriations act which will provide additional security and assistance and support peace and stability of taiwan. we thank nations for their consideration and democracy and freedom are taiwan's commitment.

peace is the only option and prosperity gained through peace and stability is our objective. the future will have a decisive impact on the world. this means we who have inherited taiwan our pilots for peace. our government will uphold four commitments, neither yield nor provoke and maintain the status quo. i want to call on china to seize -- cease their military against taiwan and share the responsibility of maintaining peace and ensure the world is free from fear. taiwanese are a peaceloving people who treat others with kindness.

i have always believed that if the leader puts the people's welfare above all, peace, mutual benefit and prosperous coexistence would be common goals. i hope that china will face the reality of the republic of china's existence, respect the choices of the people of taiwan. and in good faith, choose dialogue over confrontation, and under the principles of parity and dignity engage in cooperation. haslinda: taiwanese president making his inaugural speech, he talked about urging china to maintain regional peace, stop

military intimidation, navigating relations among his top challenges. plenty more head, this is limburg. ♪

>> welcome back.

you're watching bloomberg. shares in australian star entertainment surge after inbound interest from external parties. a consortium is considering a bid to rebrand with properties separated. -- is stepping down from the board of directors. according to a menu, -- memo, they will become a partner as chief people officer. it comes after a regulatory crackdown. star link learned internet service is in indonesia. elon musk says other companies will invest, but indonesia has

courted tesla to invest in its battery industry given a strong mining sector for metals. keeping our eyes on mining stocks as copper surges above $11,000. copper has been roiled by a squeeze where prices set an all-time high. take a look at where we are. mitsubishi is higher. chinese stocks are in focus. giving a boost to mountain tourism. plenty and they're all coming? those who are still with us, yes. grandpa! what's this? your wings. light 'em up!

gentlemen, it's a beautiful... ...day to fly.

haslinda: welcome back, chinese

market is on lunch break. the property sector is in play on the back of measures by the pb oc but you know what? 330 billion slated for that is not enough, the number is bigger than that. notwithstanding, another wave of support measures from the pb oc to support the sector which is essential. as we await china to go to lunch, japan comes back from lunch, avril has the latest on what to expect. avril: japanese markets in the green, a backdrop of energy prices higher along with calm oddities. i will take you there in a bit but let's recap, last friday,

developers surged to the highest level since november against the backdrop of expectations and now markets are pressing pause. the bigger question is how it will be implemented and chinese tech stocks are in is as we get the chinese tech reporting, hank singh is in the green, japan's moving higher, energy counters, minors, metal related stocks are providing a lift. keeping our eyes on the yen, were going to get a nationwide cpi that could show inflation moderating and mean that we see the be oj delves in control and dollar yen toward 156, flipped

the board. i want to work through commodities as you know, we've seen how copper prices have surged. it's showing a pullback, not just supply feel in this valley, we got a short squeeze last week. tailwind for the commodity. gold prices against the backdrop of rate cut optimism. looking at iron ore through the lens of chinese property. haslinda: thank you so much. let's head to taipei where the new president of taiwan is seeking. urging china to maintain peace to stop military intimidation. peace is priceless, war has no

winners. stephen engel is standing by with our next guest. stephen: yes unease are very special best indeed. alexander sitting next to me as we overlook the financial district and the president is addressing the headlines that china should have talks with taiwan. that is the crux of the issue, the president has said neither side is subordinate. let's bring in the other side of the equation in taiwan, the kmt opposition party here that we have to say has not won a presidential election in three elections. a lot of work to do. what is standing out?

you've read the speech, what has stood out? >> if we know the president's previous stance, there was no surprise in his speech. everything was expected. i have to give him some credit, he did mention about the republic of china constitution and constitutional institutions. foreigners may not understand what is the differences between the two, but i want to say that he did not really raise any things that would raise the eyebrows. he also stood firm that taiwan is separate from china and he wants a quality but not to buy into any kind of reconciliation move. stephen: i preface this by saying you are special advisor to chairman of the kmt and

director of international affairs. you were in the u.s.. what are they telling you about the status quo. they have different visions based on the consensus which the dpp does not recognize. alexander: 90 two consensus was tacit understanding that we will not be able to resolve political differences for more than 70 years soon. stephen: agree to disagree, there is only one china. alexander: they were afraid that the world will think taiwan agrees with she thing and that is why. from the kmt standpoint peace and stability is in the interest of both parties from washington to beijing.

everyone needs to do its part to ensure peace and stability in the region. for others it may be a regional conflict, but for taiwan it is a matter of survival though we need to do our part to sustain that. stephen: it was illustrated by the former president that it is appeasing beijing. alexander: we give assurances and we strengthen deterrence without provoking, that is our standpoint. we believe not only building up defense, but maintain dialogue. >> what is going on with the legislative? there was a scuffle and a bill in the kmt has control of the

legislature by one seats, plus the dpp, this argument and a state of the nation address to answer questions from parliament. how does this undermine the opening days of the term and could there be people demonstrating tomorrow? >> the bills they are proposing caused chaos in parliament. it was the reform bills about the rules of the parliament, nothing to do with national security, or anything related to sovereignty. again, this is a long debate. kmt controlled the thin majority and we work with oppositions and we want to reform the parliament rules and give the parliament

more power to oversee the executive branch. so is not related to anything. this kind of activities or the fact that the parliament has a conflict, that would not be a good beginning of the administration. >> what does the kmt need to do? i was here in january when some were saying we need new leadership, but we had the former president making a high-profile visit. are you going to advise, maybe new blood needs to come in, new ideas? >> since i assumed my position,

i think under leadership, this party headquarters is the most reform minded headquarter in almost two decades so we are trying a lot and you can see a lot of young legislators, we give the young generation more challenges -- more chances than the establishment. i do not know whether my chairman would run again, but we still consider that we are reformists within the party. >> do you believe the de facto stance is heightening the chance of war? >> he needs to handle that carefully because we need time. stephen: time for what? >> to build our deterrence

capability. there are a lot of backup and we are under a military reform that is essential to boost defensive capacity and work with citizens to strengthen civil defense capability. these need time and we will work with our people to build up our defense. stephen: do not poke beijing when you're not ready. advisor to the chairman of the party and director of international affairs, thank you for your insight. back to you from taiwan. hoss linda: stephen, thank you. still ahead, mutual fund shares -- shares their strategy and risks from ongoing election. this is bloomberg. ♪

haslinda: let's get back to our developing story.

there is no sign of life after a helicopter crash. president abraham visited. he was alongside the foreign minister here. for more on this let's bring in our horizon middle east and africa anchor. what is the latest, what do we know? >> that's right, a search has been underway since it first emerged, the president alongside his minister and others from the republic were involved in a hard landing and fees were under trying conditions. the helicopter was flying amidst

dense fog. it was quite difficult for emergency services. it was only one hour ago that red crescent got close to the site of the helicopter crash. state tv say no sign of life from the crash site so we are awaiting further details, but it is feared that the president was on the helicopter. we are awaiting final details now. the background is the president had been paying a visit to azerbaijan. a lot of questions about his means, at the end of the day ultimate power lies with the

ayatollah, as far as foreign affairs national security falls within the realm of the ayatollah who said no one should be worried as no disruption will occur, direct quote. he pleaded to the nation to pray for the well-being of the president but details are moving quickly and we are awaiting confirmation as to the fate of the president. haslinda: lots of questions what this might mean for the war between israel and hamas, any inkling? >> that is a valid question and the president was behind iran's

attack on israel one month ago. what he says was a diplomatic incident within serious this was escalated by the president and most decision-making is in the hands of the ayatollah even though the president was a protege, it will not affect how they react and it is worth bearing in mind that there were two potential successors. the other being the son. haslinda: thank you so much for that. now let's get you to india where

the election enters its fifth phase as voting begins. let's bring in our government reporter in new delhi. what is expected? >> they go to the polls. indian election is being held in seven phases, one of the longest elections. there is a heat wave responsible for lower voter turnout which is creating concern and this is -- after this there are two more phases and election results will be out.

we seen counterclaims from the opposition with contradictory numbers. government still very confident about winning, the main opposition, 20 parties say the party is losing out and may not get a majority as india goes into the fifth phase of elections. haslinda: you talked about controversial figures. i'm wondering if this may impact the credibility of india? >> perhaps because even with the voter turnout, numbers are 60

percent, quite a large number. given the voting percentages, there is a drop so it will not raise questions, but it is raising questions as to holding elections in the summer season. you will have to hold elections. it is time for all parties to decide either to advance elections or postpone so that the peak summer season you can avoid. haslinda: thank you so much for that. our government reporter in new delhi. let's put that in perspective with our next guest who runs

india's largest fund. they join us from hong kong. good to have you with us. does it matter whether modi gets the number he is targeting? guest: results have led to inside the. overall, markets go back to assessing earnings opportunities. for all the noise we keep hearing, markets are barely down so i think market is focusing on opportunity and discounting the stability and we continue on the path of major cycle. the countries coming out of a large winter and i think the

fact that markets have been stable is an indication of that. haslinda: what is the risk, what out, might disappoint the markets? guest: as i said, market is discounting. anything different can have a fluctuation and we've seen when positioning of the market is different there is a short few weeks or months of 10 or 15% volatility. over the next two or five years we have seen markets recover and all of the path of earnings. haslinda: you talked about how the market is supportive but when it comes to foreign money they made an exit.

$3 billion supported by diverse to investors, retail investors. how are you reading that environment? guest: at this point in time there seems to be a problem because over the last one year we had $20 billion of frozen equity and we've had 14 billion in fixed income and three and a half-billion from domestic investors so the supply is fairly matched and indian investors have invested through monthly investment plans, lending stability to markets. we are almost at our all-time lows in terms of the indicators. flows at this point in time, if i pull out money, it's led to

fluctuations, things are offset like the fear of outflows. has linda: we have breaking news. according to a semi-official news agency of the iranian government, the president has been killed in a helicopter crash according to a news agency which is a semi official news agency of the government. iran's president has been killed in the helicopter crash. what we know is the wreckage has been found of the helicopter killing resident abraham when it crashed. reports say there are no signs of life. there has been fog in the region making conditions difficult for rescue teams. the air fleet consisted of three helicopters and included foreign

minister hussein, the semi official news agency reported on sunday. again just to recap the headlines that we just gotten, it says iran's president has been killed in the helicopter crash which happened over the weekend. state tv had reports it had identified the wreckage found, the helicopter that was carrying the president on sunday when it crashed, returning from that visit. all can the iranian president has been killed in that helicopter crash. again the president has been killed in a helicopter crash. iran's president as well as the foreign minister has been killed in that helicopter crash, again, iran's president has been killed in that helicopter crash. it happened over the weekend, the wreckage was found.

it was carrying the president on sunday when it crashed, returning from a visit. and we will bring you all the headlines that come across the terminal. turn to your bloomberg for more on this developing story, get commentary and analysis from bloomberg expert editors. taking a look at where we are in terms of the markets right now, asia up for a seventh straight day on the back of u.s. stocks climbing. resilient earnings. expectations that the fed will cut. just one cut though. some are still expecting two cuts this year. china added measures to support the property sector and lifts intimate. in the fx space we are tracking

the japanese yen and in commodities we are tracking copper which is at a record high in excess of $11,000. keeping a watch on geopolitical developments, especially in iran, the incident over the weekend, the president was killed in a helicopter crash according to the news. that is it from bloomberg markets asia. horizons is next. keep it here with us, this is bloomberg. ♪

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