donald trump has been convicted in a historic case. haidi: historic indeed. first former president to be found guilty of crimes, all 34 charges when it comes to the falsification of business records to conceal these payments. yes this is a market that tends to look through some of these shorter-term domestic u.s. political complications but it is a complication. all the implications in terms of swing voters and the logistics of how he continues to run for president from here. annabelle: certainly a lot of questions and probably more questions past this stage. markets coming online, is a day for japanese economic data, the most forward-looking we've had come through is the tokyo inflation numbers. a bit of a pickup over make, so does perhaps keep the boj on track for rate hikes.

we sell retail sales has also beat estimates, production numbers a little weaker than expected. jobless rate fairly steady. lots of economic data but perhaps the primary focus has been the tokyo inflation. the acceleration over the course of may. what else we are tracking so far, the japanese yen always want to note, trading around the 157 mark. stocks coming online this morning just fractionally higher. it's interesting, overnight on wall street there was the story of the swiss gdp figures, there were concerns about the health of the u.s. economy and corporate america and questions over where the fed will go with its ratesetting from here. that's the state of play for japan, let's shift to korea. stocks likewise just starting trading and just a bit of upside

creeping through, keeping a close watch as well on the korean won. slightly firmer against the greenback so far. haidi: take a look at how it is setting up when it comes to the staggered open in sydney. we saw the suggestion of some optimism toward the end of the week, about 1/10 of 1% of upside. when it comes to treasuries, we see that are flecked across australia and kiwi bonds as well. a little underperformance for australian bonds given the cpi print and higher chance of a rate hike after the inflation data according to westberg. a little west -- a little wait and see playing out the markets. we did get comments from sarah hunter yesterday saying the rbi doesn't recognize household are struggling and there may be a limit with rate hikes. the aussie dollar pretty steady,

and we are watching u.s. treasuries in light of expectations going into the inflation print. watching oil as well, opec-plus working on an output call that go -- could go into 2025. a little softness in crude. let's get back to the top story, donald trump is calling the guilty verdict a disgrace after a new york jury convicted the former president on all 34 counts in his hush money trial. sentencing has been set for a few days before the republican convention set to nominate him for another run at the white house. >> this was a disgrace, this was a rigged trial by a conflicted judge who was corrupt, a rigged trial, a disgrace. they wouldn't give us a venue change, we were at 5% or 6% in this district, in this area. this was a rigged, disgraceful

trial. the real verdict will be november 5 i the people. haidi: president biden's campaign also weighing in, saying it proves no one is above the law. for more, let's bring in jodi schneider. and so anyways we are in uncharted territory in terms of how this presumptive republican nominee proceeds from here in terms of how the campaign is run. we know in terms of his supporters this will probably just galvanize more support for him. what do make of the implications given there is so much don't know about whether he will in fact be sentenced to a jail term for example? jodi: it's remarkable. the fact a former president for the first time in history was convicted on criminal charges. these are actual criminal charges in state court in new york.

and the fact that he is the front runner for the republican nominee, and he has a very good chance of winning the presidency in november and now convicted of criminal charges. it is a historic day, we have never seen this before, we have never been here before in u.s. politics. the question you raise, will it matter to a lot of voters? probably not. we've talked to and had hold a lot of voters who said they are sticking with their plans, but also according to the bloomberg morning consult poll we've been doing every month for the past five or so months, we've had a significant number of people say their feelings about voting for trump could be impacted if he were convicted of a crime. that's what we will be looking at. that's among swing state voters, they are the ones that are the most important. those are the states where they

could really make the difference on who wins in november. there's also the question of how donald trump will use this. so far he's trying to say the system was rigged, we heard fat, the remarks he made after the verdict was announced, that it is joe biden's fault, he's taken the department of justice and other parts of the law enforcement apparatus in the u.s. and turned those against donald trump for political gain. he will surly be making that argument going forward. whether he can make it successfully in the fundraising excess -- aspect as well and with donors is another question. annabelle: so far it seems there has been perhaps -- perhaps already but there could be further donations that come from trump's most ardent supporters. do you think, given the way trump is shaping this conviction

or verdict as something that was rigged or conspiracy against him, do you think that turns off any voters in this? particular those undecided at this time, as you said, the ones in the swing states that could also determine the outcome of the vote in november. jodi: that's the real question for november, because again, the base, both joe biden's and donald trump space, are probably not going to be affected by an outcome like this historic though it might be. but the independent voters, swing state voters that have not made up their mind -- and there are plenty even though the election seems to have been going on forever, they won't make up their mind until the fall just before they vote. by then the question is will it have an impact on those voters? particularly voters who are not part of the base who don't

necessarily agree with a lot of the things donald trump has done in the past. will this swing them to joe biden? we haven't seen a lot of enthusiasm for either candidate. the question is, does this propel some into bidens camp who say they just can't vote for a convicted criminal? annabelle: that was our lyrical news director jodi schneider. let's shift to any possible market implications. let's bring in our executive editor for asian markets. we've been speaking about this already, usually markets to now to what is going on in washington. is this the case here or does it inject a possible volatility over the next few months? paul: it is something that we have to pay attention to. i think at a micro level, stocks

related to trump, his media did take a knock and after hours trading. for the broader market, we might look at the mexican peso, a good grommet or a future election risk and it did not move much. the commentary we've gotten from market waters seems to be so far it is a long way ahead still. we get closer, maybe the considerations jodi was talking about will come closer and play on the minds, and when we get a sentencing maybe people might get a better view of what it will mean for markets. right now, just keep watching the headlines. haidi: meantime, still down to u.s. eco-data, inflation expectations, what we are hearing from fed speakers. paul: exactly, a big day today with pce data in the u.s. session, what everybody's been waiting for a week. if i go back to our sunday and monday stories, we are looking

on a month on month basis, energy, housing, looking at a slowing down of inflation in the u.s. that would give the market encouragement that the fed would get closer to cutting interest rates later in the year. on the other hand, upside surprise, we could have another period of volatility in stocks and higher bond deals. we've seen it already several times this year, at the start of the month we had hoped, the fed gave us signals, still looking to cut interest rates, the bond market had a rally and since then another pullback, to year yields placed at 5%. still those worries and clouds hanging over us, some people watching in the fed commentary for mention of hikes. it hasn't become a bigger theme yet people are a little on edge, particularly going into this number that will be really crucial today. haidi: our executive editor for

asian markets, paul dobson. get a roundup of the stories you need to get your day going on the terminal and bloomberg app. you can play around with the settings so you get the news on the industries and assets you care about. this is bloomberg. ♪

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with everything from managing your social posts, and events, to email and sms marketing. constant contact delivers all the tools you need to help your business grow. get started today at constantcontact.com constant contact. helping the small stand tall. haidi: defense between the u.s. and china taking center stage in singapore, hundreds of delegates addressing regional and

international security challenges. let's get over to haslinda amin, with our next guest. haslinda: he talked about tensions with the u.s. and china, they say when the elephants fight, small countries like singapore and new zealand suffer for it. i have the new zealand defense minister with me. good to have you with us. we know new zealand is inching closer to its traditional partners like the u.s., u.k. and australia. how much of that has to do with the fight between the u.s. and china? >> no one should be surprised, we've been part of the agreement for 17 years. we have long-standing and -- long-standing relationships with the u.s. and the u.k. in canada,

also singapore and malaysia as part of the five powers relationship. no one should be surprised like singapore, we are always very aware of tensions in the world and we need to get on and trade as well so we have to walk the line that singapore does. haslinda: this is a china that wants to spread its influence, how worried are you? min. collins: we need to be aware that new zealand has a role as well as australia and other countries in the south pacific in particular. we obviously want to be able to have regional security. in terms of china, there are opportunities for china to work with nations that have already got long-standing commitments in the pacific, rather than to not do that. we think it's very important we respect those pacific nations, that we ask them what they need, help them where we can, and

respect them as sovereign nations. it doesn't do anyone any good if they are not absolutely sovereign. haslinda: how challenging is it, given that china, it is new zealand's largest trading partner. we seen how china clamped down on its beef exports to the country. i'm wondering how are you assessing that balancing act? min. collins: financial security is top of mind for many new zealanders, but there is no financial security without actual security. i think we are doing a very good job of working with china and our traditional security partners as well. it's just simply one of those things that as a small nation we have to make sure we are not in our -- naive. haslinda: we know new zealand

has submitted a bid to join aukus. haslinda: we haven't submitted a bid, we are wanting to know what role we would play. it would be the nonnuclear and tech area, mostly defense tech. we have some areas we could no doubt contribute to. we obviously have expertise in the space area and advanced aviation. and in terms of our own tech side. haslinda: when will you decide? min. collins: it's really just discussions that we have interest in what opportunities there might be. it hasn't been formalized into particular negotiations or anything like that. we just say we are interested, if there is enough in it for us.

these are discussions the cabinet would need to come to, not something that a minister by themselves does. haslinda: if you do join au kus, would you need to increase your defense budget? min. collins: since the 1990's, our defense budget as a percentage of gdp, as many people did in the 1990's when world peace broke out, it has fallen. we have a plan coming to my office the next few weeks, defense capability plans through 2040. we are very aware we need to increase defense spending. but rather than just increase it we need to make sure we are doing it in a way where we can add value to our security powers. haslinda: increasing your budget, what does that necessarily mean? you are looking at perhaps 2% as recommend by nato?

min. collins: the prime minister things we need to move toward that that it's just -- as a small nation, we have to be interoperable with her closest partner, australia. buying the same equipment. working together. we have these expertise the go back to world war i. haslinda: the aging equipment, what kind of plans do you have? min. collins: we have some very old aircraft, 35 years old, no one is believing there will last much longer. it's part of the capability plan. i would also point out that

occasionally other people's aircrafts also break down. we are not going to say we will put this amount of money and what we will spend it on and how we will pay for it. we are going to vote. we are in a very difficult political time and we are very aware things are changing of the world. just look at russia's illegal invasion of ukraine and the terrible devastation they brought on that country. and just know that we are not living in a benign strategic environment, it is a very challenging geopolitical world. 's. we will be looking to increase defense bending as we can but also with a plan rather than just throwing money at it. haslinda: trump in the news today, found guilty of all 34 felony counts, but it doesn't hinder his prospects of becoming president of the united states. how would a trump presidency impact relations between the

u.s. and new zealand? min. collins: i think it hasn't occurred yet so it is hypothetical but whoever is president of the united states will be a match for the u.s. people. new zealand is not responsible for voting in the united states. we will work with whoever is there. a relationship with united states goes back to about the 1870's in scientific work. i think we leave it to the u.s. people. haslinda: thank you so much for your time. new zealand's defense minister joining us here. back to you. annabelle: that wasn't bloomberg's chief international correspondent for southeast asia with judith collins, the new zealand minister of defense. we will have a lot more from the shangri-la dialogue in singapore later in the day. you can catch interviews.

they are at the times on the screen. morehead on "daybreak: asia" as well. this is bloomberg. ♪

annabelle: we are about 20 minutes into the session. we've got a few different movers we are tracking, the likes of hybe dropping on a report that a court has barred the new genes removal. they say the rational is not sufficient to back the case, the company's case for dismissal. you see the stock reaction

coming through. sk inc. we are tracking, we have reports of a ruling of the chairman of the companies divorce. that includes around a $1 billion settlement possibly to his wife. we are hearing details of that. the stock has been jumping as much as 10%. other names we are tracking, we are seeing signals of japan's corporate governance reform in action, so kansai, you see a big reaction, and fuji media as well, there is a report there is a push for an mbo to take place. some of the latest stories on the corporate front, tiktok pushing back at a reuters report that says the social media plus from is working on a clone of the recommended algorithm for u.s. users. the article says the end result might be a version that operates independent of the chinese

parent bytedance. in march u.s. congress passed a bill that would require the ban of tiktok. apple said to overhaul its siri virtual assistant with more advanced artificial intelligence. sources say the new system will allow siri to take command of all the features within apps for the first time using large language models. apple is set to unveil its ai strategy next month at a conference. bloomberg sources say a developer in advance talks with major banks for a $6.9 billion loan. we are told discussions started a few months ago after financial regulators instructed lenders to offer funding support to vanke. if signed it would be the largest bank loan issued in the

asia-pacific outside of japan going back to 2022. haidi: futures in new york opening for this friday session. a little upside when it comes to asian stocks. not much is carried through. some futures on the back foot, we saw broadly higher for european equities on thursday. it was a rebound of the low. it looks like broad-based means may be giving up a little bit given the pressure from the recent surge in bond yields despite cooling when it comes to the big move. in the previous session we saw real estate and telecom stocks seeing gains but the stoxx 600, the biggest one-day slide in a month. looking at how u.s. risk assets are trading, this as we continue to look for market reaction to the historic news that donald

trump has become the first former u.s. president to become -- be found guilty of criminal charges related to the hush money payment to a porn star. this models the outlook when we are just five months away from election day in the united states and the implications of when the sentencing will happen, what it will look like and how it complicates his path to return to the white house. u.s. futures, s&p futures a little softer ahead of inflation data. this is bl

haidi: donald trump was found guilty on all counts in his hush money trial. let's talk about the verdict with our reporter in new york. really great to have you with us. talk us through this uncharted

territory when it comes to where we go from here. was this a surprise and where to be go from here in terms of the expected sentencing? david: i would say it was not a particularly surprising verdict for those who sat through the trial. it was very powerful that trump engaged in a hush money scheme to hush stormy daniels, who said she had an affair with trump. he will be sentenced on july 11 in the same courtroom in manhattan, where he was convicted, i the judge oversaw the trial. it is unclear whether he will get sentenced to prison or not. he faces up to four years. he can still run for office as a convicted felon. he is expected to appeal, and it is unclear on whether he will be

successful on that appeal. i would say that he still faces three other criminal trials. two relate to his efforts to overturn the 2020 election, and one of them relates to his handling of classified documents after he left office. he is a long way from being out of the woods legally here. annabelle: how is this likely to play out we are also coming up against the u.s. election deadline for early november, is this something that is going to be detracting from the presidential or election campaign? david: that is the big question nobody can figure out whether this will really hurt his campaign or not. he has a very devoted base, tens of millions of followers, who seem to love him no matter what

he does and no matter what happens to him in court. he has lost two previous trials last year, and he has been able to turn this type of setback into a fundraising opportunity. he has continued to say that he is the victim of a witch hunt and that he is being persecuted for who he is, but the trial showed that the american legal system works as it is designed to, and that the trial went off essentially without a hitch. he had his day in court and the opportunity to testify. he did not take it. we will see how the american republic reacts to this verdict. haidi: perhaps predictably from donald trump, we have heard grumblings that it was rigged

and that he is innocent. there are also plenty supporters who share the same view. in fact, even prominent investors like bill ackerman says he potentially agrees with ron desantis' view that this is the combination of the legal process spent to the political will of the actors involved. is there any evidence or objective view that there could be truth or reason to this? david: i was in the trial every day, saw the witnesses and how the judge handled it. his lawyers were able to confront his accusers and induct vigorous cross examinations. they filed legal motions to advance their position, just like any other defendant would do in that courthouse, so i do not think the jury was rigged. i do not think the outcome was predetermined.

he had his opportunity to defend himself. now, the defense objected to some of the judge's rulings in the trial and before deliberations began. do think it is -- so it is possible he may have a chance on appeal, but in his other cases in this case, he has lost a number of legal rulings, so he has not had a lot of traction in these claims that the process is rigged against him. i should also add that because this happened in state court and not federal court, if you are to be elected again in november, he is not able to pardon himself as the could in the two federal cases that are pending against him. annabelle: that was our u.s. legal reporter in new york. thank you for those insights. let's get more and bring in

alexis crow, global head of investing at pwc. as we were hearing with david, it seems like from a voters perspective, a lot of the decisions are already cast, except for in swing states, but do you think the country's -- countries within this region, asia, are preparing for the odds that we see trump returning to the white house? alexis: thank you for having me on. what is interesting as there is a forecasting made when the incoming biden team came into the white house is that you really see a change in tone but not stance with regard to protectionist measures we have seen emanate from washington, going back even to 2016 onwards and 2017 onwards. certainly, i would say that there is an element that if

trump or biden comes in, you are going to continue to seek rising protectionist measures come out of washington, not only asia-pacific, but potentially europe. haidi: we have seen some of those instances overnight because we had a bloomberg scoop talking about possibly restrictions placed on exports of chips and chipmaking equipment or supplies to the middle east with the likes of nvidia. do you see perhaps that protectionism apply not only to china but also friends of china? alexis: certainly. one of the key phrases is the return of industrial policy, and we are seeing that pop-up not only from washington but europe, as well, were coming out of the economic shutdowns of the pandemic and associated economic stocks, many countries are

stopping to assess what sectors are deemed to be of the utmost economic sincerity. the irony is that we think about multinational corporations and when we think of investment calls of capital, that the know-how and the human capital and the prowess and the skills that are necessary to drive growth in some of these critical sectors do not come from one jurisdiction, so it's interesting as we think about some of the most frontrunning and four sided economies are those that are courting investment from different types of companies and countries in order to grow sustainably in these high-tech patterns of demand. haidi: you talk about this sort of post-pandemic emergence of shuttle economic diplomacy, which is interesting. do you think as we see more of these term offenses, that means that some of the alliances we are seeing, particularly from

trade, in the supply chain and an economic sense, are becoming more nuanced? alexis: it is interesting because you could say as we kick off the dialogue and singapore, america has really retained a defense first stance across the asia-pacific. china has retained an economic and trade oriented stance across the asia-pacific, and there are other countries, and i was sitting in one, japan, that have taken a growth and investment lines. as we know, they have really pursued the shuttle economic diplomacy across the globe and it is fascinating. while a lot of headlines are dominated by rising protectionist measures, meanwhile, other political leaders and political leaders and waiting continue to conduct the shuttle diplomacy, creating new opportunities in old and new sectors alike. haidi: we have been talking

about the convergence when we get to the point where ai is being supersized by the powers of quantum computing. a lot of the conversation has been preparedness by corporations. geographically, where you see the countries and policies that are best placed to take advantage? particularly in the queensland government, they are making enormous investments. alexis: it is fascinating because ai is definitely the investor theme does your -- d's e jure and we always have to look at where the next game is down -- theme is down the horizon and quantum is one. an economy such as japan, you have had a lot of government policies shaped at garnering pools of capital and know-how into these industries of the future, so the ldp having had a

working group, which predated the friendship, also sitting here in japan, you have a concerted effort to significantly build out data centers. we are seeing singapore position itself to do that within the asian-pacific, as well. and undersea cables, when we think of sovereignty, japan and singapore positioning themselves to be data hubs in this rising protectionism, and we have to ask about the skills to match. what is fascinating to note is some of the u.s. large tech companies have promised to upscaled 3 million people in japan to be able to foster and generate the digital skills required to make the transition. we are seeing it happen across the board, and i would always keep my eye on where the next theme is growing from. annabelle: always great to chat with you, alexis crow. haidi: more to come here on

"daybreak asia." this is bloomberg. ♪ so this is pickleball? it's basically tennis for babies, but for adults. it should be called wiffle tennis. pickle! yeah, aw! whoo! ♪♪ these guys are intense. we got nothing to worry about. with e*trade from morgan stanley, we're ready for whatever gets served up. dude, you gotta work on your trash talk. i'd rather work on saving for retirement. or college, since you like to get schooled. that's a pretty good burn, right? got him.

good game. thanks for coming to our clinic, first one's free. haidi: the new ceo of a top japanese oil refiner says he would like to improve diversity within the company through initiatives. he spoke exclusively about the

company's future and with the continued weakness in the yen. >> the weekend has positive effect on our earnings. however, if the volatility is too large, it will impact the earnings and affect actual operations, which isn't a good thing. also, we get materials from overseas. the yen's depreciation has a certain effect in this area. >> the 200 million share bareback was -- buyback was perceived in the markets. what importance do you place on this, is there a possibility of further share buybacks if profits are better than expected? >> in terms of capital efficiency, since last year, we have been presenting a certain vision for both re: and our oic, working on better returns for a long time and had decided to increase priority further

through buyback of ¥200 billion. we would like our shareholders to continue supporting us and would like to respond to them as much as possible. of course, we will continue to discuss further steps. >> increasing 58 to more than 100, this is hardly an ambitious target. what initiatives are taken to improve this? is there a risk of misconduct by the executives in recent years will deter the achievement of the target? >> as of april 1, we made personnel changes. the president of eneos is now a woman, as is the chief resources human not -- chief resources officer, and we appointed four other women at the managerial level, including at the head office. in japan, there has never been a

female refinery officer. the director of the refinery is now a woman, and i expect that she will lead the way in diversity in the future. i feel we need to focus more on training and development, regardless of whether people are male or female. i myself would like to make a bigger push in diversity, which is very important. in the future, we need to change your company, especially as we are talking about carbon neutrality. we are also talking about roe in the context of our desire to take another step forward in the global arena. without diversity, i don't see a future for the company. >> the use of hydrogen is not expanding as fast as expected. what other issues are thereby raising the price of hydrogen by 550 and ¥1000? at this price, the fear is that

it will be higher than the hybrid vehicles. have you given up on the idea of hydrogen? >> basically, we started to hydrogen stations 2014. we were thinking they would focus on heavy duty trucks and buses. the situation is different in europe. the co2 price is totally different with in regulations. i spoke with the ceo of a paris company, and he told me they have more than 1000 of toyotas hydrogen model. the price of gasoline and hydrogen will be similar. the reason for this is co2 prices and other factors will all come into play. if japan goes this way in the future, carbon pricing will bring a little more green and blue energy into the country. i believe hydrogen will naturally be a part of that. we would like to promote the

oversea supply chain and local production for local hydrogen consumption in the future, so there was no talk of eneos pushing back on hydrogen. annabelle: that was the ceo of eneos, speaking with bloomberg exclusively. that stick with japan because we saw inflation in the capital tokyo accelerating this month, potentially keeping the boj contract to consider another rate hike in the coming months. let's bring in our asia economy senior editor in tokyo. brian fowler, just looking at the figures, it was little bit mixed because he saw a pickup in the headline, the court reading in line with estimates, but the core, core reading is a little softening. what was your readthrough on that? brian: yeah, well we had a whole storm of data this morning, and as you say, on the surface, a lot of it looks mixed, if you

dig into details, i think it is a robust package of statistics. the tokyo cpi, the key gauge we look at at 1.9% is below the boj's target and the core core slowed more than we thought. on the other hand, the statistics were destroyed somewhat by education subsidies in the previous month. you can see looking at the service price growth in the capital was only 0.7%, quite weak from what we have been looking at in previous months. that is all related to the education subsidies. if you think about the nationwide cpi, bloomberg economics estimates that based on what we saw for tokyo that the nationwide cpi figure would come out at about 8%, and we will get that data in a couple of weeks. 3% over the boj's target keeps it on track for another rate hike in the coming months.

annabelle: we didn't hear from the governor earlier this week, saying they were looking at gradual tightening. haidi: what is the latest gauge of what the trajectory could look like? brian: yeah, so right now we are conducting a survey of economists to get their latest dealings about it, but the main consensus is a hike in october with another fairly sizable portion of economists looking at july. they all site that the risk of a possible hike in june, although few expect that to happen, so i think we are continuing to look at how wage gains affect prices and we have tax cuts coming in june to give a push to spending on prices, and then we will see utility subsidies ended and phased out from this month. that could push up the utility cost component in price gauges and the one more factor that

gives the boj a green light to hike interest rates. haidi: brian fowler in tokyo. you can watch us live and see past interviews with our interactive tv function and dive into any securities on the bloomberg actions. you can send us instant messages during our shows. this is for bloomberg subscribers only. check it out. this is bloomberg. ♪

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when you've got a decision to make... the answer is j.p. morgan wealth management. annabelle: the point is being made that this is the end of an era of sorts perhaps today because we are actually in the last ever block of "daybreak asia" and there is a new show and store on monday, shery ahn has moved across to new york and you are teaming up for a real look at the trading action. what is in store? haidi: as you and i have talked about, there is so much renewed focus with the wake of japan -- bank of japan to policy tightening and the historic weakness that we continue to see in the yen, no better time than for shery ahn to be on the ground in tokyo.

bloomberg will be there to cover all of the details, speaking to some of the top corporate newsmakers and really be there as we see these economic transitions and how that is going to impact japan, in particular in light of the complex geopolitical environment that we continue to be in. even the headline news on donald trump today really does suggest that what happens in november, sort of the trade policies and security policies is going to have a big impact on this part of the world for u.s. allies like japan and australia. we will be there every minutes of the way. annabelle: it certainly, as you said, the countdown to the u.s. election and what that means for these parts in these countries in this part of the world, with the boj policy shift, and changes with australia and this focus not on the other mining sector but the new economy sectors.

a big watch. haidi: yes, very, very exciting but a little bit sad to say goodbye to "daybreak," our flagship show since we launched incident, but we will be back monday morning at 7:00 a.m. hong kong time with the first show of "the asia trade." let's take a look at u.s. futures reacting, looking closely at u.s. markets in terms of if there is any sentiment change from what we have seen with the historic news of donald trump and his legal woes, of course, but at this point, this market continues to look through domestic clinical color, if you will, and we had inflation data on other fed speak that we are watching out for in terms of where the trajectory for monetary policy goes from here. futures are looking a little mixed throughout asia. we are seeing taiwan looking like it has a little bit of a pop at the open and china

futures seen some upside about .6%. the dollar-china, a big drag of weakness that we have seen when it comes to trading and how that has played out for the weakness in the yen, as well. momentum firmly to the upside for this friday session here in asia. that is it for the last edition of "daybreak asia." markets coverage continues as we look ahead to the start of trading. "the china show" is next. this is bloomberg. ♪

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yvonne: shenzhen and shanghai are watching -- you are watching the china show. i'm yvonne man. our top stories. >> this is a rigged, disgraceful trial. the real verdict will be november 5 by the people.

yvonne: donald