hang seng index currently down 2.5%, we're keeping an eye on the nikkei 22, now below the 40,000 level. our focus is on china premier li qiang presenting his work report to kickoff the npc with a growth target of 5% for the year. let's listen. >> in setting these targets, we considered evolving dynamic at home and abroad, and other relevant factors. and it is not easy for us to realize these targets. we need policy support. and a joint effort from all. haslinda: chinese assets showing stability, csi 300 zero point 4% higher, the hang seng under pressure, the yuan 7.2096, stable but supported by the fixed and the chinese 10-year yield, not much reaction, despite plans for special government bonds worth one trillion yuan, or $540 million. chief north asia correspondence stephen engle in the ground in beijing and our asia equities reporter charlotte yang in hong kong. what stands out from li's report? >> we shouldn't have had so much expectations as we all had. again, these work reports tend to spell out oftentimes what we already know. we note that the economy is sputtering, 2020 three w

hong kong's crown jewel, the hang seng index, today trades at roughly half its value before the 2019t time since the economic freedom of the world index started more than 50 years ago, the city has lost its top spot at the top of the ranking. now, there's concern that vague provisions in hong kong's new national security law around state secrets and links to foreign entities could have a further chilling effect on many global businesses in the financial hub. the warning from one washington dc—based political risk consultant with financial sector clients — be cautious. my advice to my clients would be to play it very safe to potentially consider doing such work outside of hong kong rather than risk the vagueness of the law coming back to bite them. in hong kong, allan zeman is a prominent figure in the business community. he believes authorities will prioritise protecting the community. the most important thing about it, is that you have to have criminal intent, that to do something, and it really applies to a very small minority of people. and most of those that were troublemakers ha

the result to gitifasand, esfahan, khordam abad polymer. 28 25 won against pikan sabzevar and zaghol seng tabast with the same result, the flight of the air also took the day ahead. iyubi and this goal, which is now the distance of yargiri, is going to be scored and club football in europe, chelsea's victory in the premier league. lazio's loss in serie a and sevilla's suspension in in the last match of the 28th week of the english premier league last night, chelsea is in the league , from diaz's departure to maghreb to nagelzaman's attempt to cover the mannschaft shirt on the lead star's body in the football sidelines. the spanish star on the way to the moroccan national team, brahim dias, who shines in real madrid these days, has decided to play for the moroccan national football team. this spanish midfielder has been trying to wear la roja's shirt for a long time, but the lack of attention made him make such a decision. an issue that caused the reaction of dela fante, the head coach of spain. when i was a coach of the basic teams, i used brahim many times to his decision i respect you,

hong kong's crown jewel, the hang seng index, today trades at roughly half its value before the 2019irst time since the economic freedom of the world index started more than 50 years ago, the city has lost its top spot at the top of the ranking. now, there's concern that vague provisions in hong kong's new national security law around state secrets and links to foreign entities could have a further chilling effect on many global businesses in the financial hub. the warning from one washington, dc—based political risk consultant with financial sector clients — be cautious. my advice to my clients would be to play it very safe to potentially consider doing such work outside of hong kong rather than risk — that the vagueness of the law coming back to bite them. in hong kong, allan zeman is a prominent figure in the business community. he believes authorities will prioritize protecting the community. you know, the most important thing about it is that you have to have criminal intent that — to do something, and it really applies to a very small minority of people. and most of those that

hong kong's crown jewel, the hang seng index today trades at roughly half its value before the 2019 protestshe first time since the economic freedom of the world index started more than 50 years ago, the city has lost its top spot at the top of the ranking. now, there's concern that vague provisions in hong kong's new national security law around state secrets and links to foreign entities could have a further chilling effect on many global businesses in the financial hub. the warning from one washington dc based political risk consultant with financial sector clients — be cautious. my advice to my clients would be to play it very safe to potentially consider doing such work outside of hong kong rather than risk, the vagueness of the law coming back to bite them. in hong kong allan zeman is a prominent figure in the business community. he believes authorities will prioritise protecting the community. the most important thing about it, is that you have to have criminal intent, that to do something, and it really applies to a very small minority of people. and most of those that were troublema

hong kong's crown jewel, the hang seng index, today trades at roughly half its value before the 2019the first time since the economic freedom of the world index started more than 50 years ago, the city has lost its top spot at the top of the ranking. now, there's concern that vague provisions in hong kong's new national security law around state secrets and links to foreign entities could have a further chilling effect on many global businesses in the financial hub. the warning from one washington dc—based political risk consultant with financial sector clients — be cautious. my advice to my clients would be to play it very safe to potentially consider doing such work outside of hong kong rather than risk the vagueness of the law coming back to bite them. in hong kong, allan zeman is a prominent figure in the business community. he believes authorities will prioritise protecting the community. the most important thing about it, is that you have to have criminal intent, that to do something, and it really applies to a very small minority of people. and most of those that were troublem

hong kong's hang seng index is also making gains, on optimism after the fed meeting.markets are moving in asia in the coming hours. and that's it for this edition of asia business report. thanks for watching. hey, i'mjulia with the catch up. tonight, a royal privacy breach, mental health in football, and an eco warrior dog. we'll start with the hospital where the princess of wales had surgery in january. they've said any breach of her privacy would be investigated. that's after the daily mirror reported that at least one hospital worker tried to access her medical records without permission. she spent almost two weeks at the london clinic and has stepped back from the public eye while she's recovering, but her absence has led to loads of conspiracy theories and speculation online, which has only got worse since the princess apologised for editing a mother's day photo of her and her three kids. richarlison, the tottenham forward, has opened up about seeking psychological help. the brazilian footballer said he was at rock bottom, but therapy helped him to turn things ar

dan wang, chief economist at hang seng bank china explained the impact that is having on the chinesect impact on the economy is not so obvious because the issue is quite invisible on its own but the consumption for this youth group between the ages of 16 and 2a is too high. they can get support from theirfamily and they have a new habit of borrowing online and offline. in terms of theirjob prospects, it's quite dire but in terms of the impact on the economy, not very high. we heard nick say there is no quick fix solution for china's government, do they have the tools to fix the issue? the government is still following their traditional ways of helping those fresh graduates, one way is to encourage the public sector, all levels of government, state owned enterprises to hire as many as they can. but that amount is quite limited. another way they used to rely on is to ask students to stay in school for as long as possible. this will postpone the problem for another year or two and the economy may not necessarily climb out of this business cycle by then. in case you are not aware, taylor

the big component of the hang seng. lower rates in the future is supporting the outlook for property developers. that's what happened out here in asia. we will see if it continues heading into the last trading day of the week. for now, it is back to you in new york. good morning. >> jp, thank you. we turn our tenattention to the early trade in europe and karen tso. >> reporter: thank you, frank. dominating from the outset. fresh records on the stoixx 600 with the reaction from the fed. cutting rates from 1.75% to 1.5% from the snb. the stoxx 600 record is up .60%. it is about the bank of england later on with the market perched above 7,800 points. the ftse 100 has struggled in it recent years. the focus on the smi thanks to the snb to loosen policy. it does not have an inflation problem. it is forecasting inflation of 1.4% this year instead of 1.9%. growth rates are slim at 1%. compare to the fed which is guiding higher. what we have across the board is strong reaction in the sectors. cyclicals are it. basic resources a

hang seng up 6%.ikkei hitting a record high on the back of the continued yen weakness up 8%. >>> it may have been another good month for the european equities, but the earnings picture is not simple. arabile has more on the numbers. >> carolin, this is interesting across europe. it is near the end of the earnings season. it is drawing to a close. it has been a tough one for corporates. cnbc analysis shows half of firms actually beat expectations. 313 corporates reported in the period. that's the lowest ratio since the first quarter of 2020. that is when the global coronavirus pandemic hit the european firms. it hasn't all about doom and dpl gloom. you have the discretion stocks out performing the broader trend. that is showing in the uptick of double digits which is more than 16% so far this year. that's a big climb from the stoxx 600 of 3.7%. it is no surprise that chip stocks make up the technology benchmark. really, it is seeing an earnings season with nvidia gaining a quarter trillion dollars in m

the hang seng index up 1.8%. to come, a deep dive into the indian economy with morgan stanley. we get thoughts on the r.b.i.s next move after the fed helped rates for a fifth straight meeting. keep it here with us. this is bloomberg. ♪ haslinda: welcome back to bloomberg markets: asia. you are watching india focus. two minutes to the start of the indian session and futures are pointing to a higher open, not surprising given the haute -- huge rally we are seeing in asia. the index up about 2%. the sensex pointing up by 6/10 of 1%. in terms of the currency, 8305 is the level we are looking at right now. the ruby up about 1/10 of 1%. it's about the fed sticking to its path of interest rate cuts despite the recent pickup and inflation. meanwhile, the bank of india appears to be concerned that inflation will be slow to fall to its 4% medium-term target. are the chances of a rate cut by the r.b.i. distant now? let's bring in the chief economist at morgan stanley. good to have you with us. what are we looking at? >> tha

the hang seng is managing to tick up on the back of the tech in influx to europe, we are tracking newsrom europe. it is flatter with the numbers today. the gaming and betting company really pointing to the u.s. operations with the boost for the entity they did see a pre-tax loss revenue and ebitda which beat market expectations. the pce data is one we are looking toward today >> arabile, thank you very much. always good to see you. >>> turning attention backs to the markets. the list of the big banks raising the s&p 500 targets growing by one hsbc growing from 5,000 to 5,400. the bank has a bear case where they there are no fed rate cuts due to inflation and economic data running hot in that scenario, the s&p falls to 4,800 the bullish scenario, it rises to 5,700 due to growth and inflation remaining under control. i spoke with the head of the strategy for the americas who says a.i. plays a major role in the bullish case >> we think going forward, if companies start to be able to verbalize how much they can get with benefits from a.i. and in terms of improved margins and lower costs, w

i want to show you what we are seeing cross asset in china as well, hung saying -- hang seng recovery. onshore-offshore note saying even though we saw positive sentiment coming through their weekly losses for the hang seng as the chinese npc underwhelmed. tom: let's get more on the national people's congress which wraps up today. china pleasantness annual session of parliament wrapping up in less than one hour with more emphasis on what leaders did not do then what they actually did. let's bring in allen. it would have been the key takeaways this year? >> there are no big surprises. on the economic front, economic targets like gdp and fiscal targets were in line with expectations. target of around 5% for gdp is in the upper range of what most economists expect. premier li said it would be hard to achieve. in terms of how the government will achieve these targets there are indications of the government is going to increase spending to the issuance of one trillion ultra long special government bonds, so more fiscal stimulus and not as much monetary stimulus. tech innovation and upgradin

you can see hong kong's hang seng not looking in good shape, down 1.6%, that's after data showing thatxpected last month, denting hopes of interest rate cuts. drinking water bubbling up from underground. it's mid—morning on a street in red hill, and teams have located the problem, thanks to ai technology, that triggered an alarm just after 8:00am. triggered an alarm 'ust after 8:00am. ., .., triggered an alarm 'ust after 8:00am. ., , ., , 8:00am. you can see the flows auoin u- 8:00am. you can see the flows going up and — 8:00am. you can see the flows going up and down. _ 8:00am. you can see the flows going up and down. we - 8:00am. you can see the flows going up and down. we have i 8:00am. you can see the flows going up and down. we have al going up and down. we have a prediction that goes along here with the green light. the prediction is saying, look, based upon the history, this is the kind of flows we should be getting in that area at this time today. you can see over here it's started to jump. as a result of that, the system has noticed that, it's alerted the control room, and it'

csi 300 clucking gains about .6 of 1%, hang seng in the green. it lets let the board because i want to take you to some of the movers in the markets for chinese equities today. chinese authorities telling ev makers to buy local or -- propping up domestic names. that we are keeping a close watch of this week on some of the companies on the hang seng tech. a company could unveil its ev and visions by earnings as well from tencent. it is also about the bank of japan and its -- this speculation ramping up in the markets pricing and the hike from the boj. futures and tenure reversing some of the moves from last week . it did not forget, we had to be a jade today coming through with a massive liquidity operation via repos indicating that they do not want to tolerate any big fluctuations in the bond space, and regardless, it looks like it will be a while even if the doj moves tomorrow before we see 1%, let alone 2% of the 10 year. let's flip the board, because what we are minding is the gap between the u.s. and japan, and again hovering at the 149 level

annabelle: dan wong, chief economist at hang seng china.ing up, we will look at each term -- e-commerce china, jd.com approving a $3 billion buyback after beating estimates. this is bloomberg. ♪ j.p. morgan wealth management knows it's easy to get lost in investment research. get help with j.p morgan personal advisors. hey, david! ready to get started? work with advisors who create a plan with you, and help you find the right investments. so great getting to know you, let's take a look at your new investment plan. ok, great! this should have you moving in the right direction. thanks jen. get ongoing advice; and manage your investments in the chase mobile app. when you automate sales tax with avalara, you don't have to worry about things like changing tax rates or filing returns. avalarahhh ahhh >> we believe our policy rate is likely at its peak for the tightening cycle. we want to see more data so we can be confident and take the step of beginning to reduce policy rates. community does not expect it would be appropriate to reduce the targe

mehrzhoi came in 1344, when we were working behind the stage of seng loj theater , he came with the late dr. saidi, he came to see us, well, yes. the boy was much more beautiful than now . he was very handsome. laila, you asked for it yourself. other than that, you were a guest of mom . buy kanchai fruit sweets and a centauri from other works remembered by dariush mehrjoui. this is very important for an artist, in my opinion, to be able to see the world and himself before feel everything good and be able to cultivate this feeling and use it for expressing the things that a director whose face was remembered at the age of 84 wants to say. they usually say that everything that is seen will be missed, but fortunately, i am 22 years old and i am not in tehran, but it is like i am still in our hearts . . cinema and tv, i gave my life to fidad sir , i gave four sons so that i would not see your tears. he became a permanent fixture by playing roles in such works as gol davoudi, young police, imam ali and youssef the prophet. if i want to go back to the past, i will do it this way. beside the bu

asghar hassanzadeh , mohammad reza seng saffidi, ali akrami, mehdi karimi and masoud yusuf scored our goals in this match for samar. on the last day of this tournament tomorrow, iran will meet the host team of morocco with new zealand. well , to see how the mood of the tournament was , how much it helped us and it was a good competition to test our players with mr. mohammad. taheri , a former player of the national team and a futsal expert , we have established a relationship. mr. taheri, greetings and courtesy . greetings and courtesy, at your service, mr. asadian. dear compatriots, i hope that their theater and worship will be accepted by god almighty . thank you very much, mr. taheri, considering that we see these competitions as preparatory and friendly games, please let me know what you think. we were serious about how well we were able to prepare our team for the nations cup . well, let me tell you that i have said this before because the team has finally changed generations and young players have come and are being used in the national team. i think it's very good to organize i

dan wang, chief economist at hang seng bank china explained the impact that is having on the chineseits direct impact on the economy is not so obvious because the issue is quite invisible on its own but the consumption for this youth group between the ages of 16 and 2a is too high. they can get support from their family and they have a new habit of borrowing online and off—line. in terms, theirjob prospects are quite dire but in terms of the impact on the economy, not very high. we the impact on the economy, not very high-— very high. we heard nick say there is no — very high. we heard nick say there is no quick _ very high. we heard nick say there is no quick fix - very high. we heard nick say there is no quick fix solution | there is no quick fix solution for china's government, the delay have the tools to fix the issue? , ., , , issue? the government is still followin: issue? the government is still following their _ issue? the government is still following their traditional - following their traditional ways of helping those fresh graduates, one way ways to encourage the public s

mehrjovi, when he came backstage in 1344 at seng loj theater. we were working, he came with the late dr. saidi, he came to see us, well, he was a boy much younger than now, he was very handsome, well, leila, you asked for it yourself , other than that, he was a guest of mom , buy sweets, fruit, sugar, tea, and centauri, among other works remembered by dariush mehrjoui. this is very important for the artist in my opinion, he can feel good about the world and himself before anything else and can cultivate this feeling. give it and use it to express what you want. the director whose face was remembered at the age of 84, usually they say that whatever is seen goes away from the heart , but fortunately i am 22 years old and i am not in tehran, but it is like i am still in the hearts of parvaneh masoumi. a well-known actor of cinema and television has also passed away. i gave four sons to fidad, sir, who preceded him in death. no secret should be broken . no one has the right to interfere with people. in the past year, he also became a passenger in th

mehrjooi came to see us when we were working behind the scenes of seng loj theater in 1344 with the late dr. saedi. well, a boy was much more beautiful than now, he was very handsome and well, leila, you asked for it. other than that, he was a guest of sweet mom, buy sugarcane fruit and centauri from other works remembered by dariush mehrjoui . this is very important for an artist, in my opinion, who can see the world first of all, he should feel good and be able to cultivate this feeling and use it to express what he wants , the director whose face was remembered at the age of 84. it is usually said that whatever is lost from the heart will be lost from the heart. fortunately, i'm 22 years old and i'm not in tehran, but it's like i'm still in your hearts. parwaneh masoumi also passed away. a well-known film and television actor. my life is dedicated to you sir. i gave four sons not to see your tears. he played a role in works such as at the height of his fame as a novelist, the films i worked on were mostly good , his characters were very good in the series hazardastan, we planned to pu

seng , tell us how many thousands of cars are now leaving tehran and still not coming back, yes, well, daily , considering that the numbers are changing, the last change that we made from the systems today is that about 890,000 cars have not yet returned to tehran, and we expect this number to return in the next few days , while in some provinces like mazandaran province, which has the largest number of passenger vehicles , this year, due to the special conditions of the holy month of ramadan, there have been changes in the travel pattern. due to these changes , we have seen an increase in trips this year in pilgrimage provinces, which means an increase in the growth rate of trips. it is in khorasan razavi province and qom province in addition, some southern provinces such as bushehr and hormozgan provinces have been favored by more nowruz travelers, probably due to the strengthening of infrastructure and favorable weather conditions, which , considering that we are witnessing an increase in traffic on these roads, fortunately the reason for the large number of routes and the high cap

from seng's research, we know that the technological product of this company is commercialized today and of course its path is ready for export. mohammad ali sohilpour , khomeini radio and television news agency, city of fanavaran one daneshmian company succeeded in producing a new type of plant seedlings by the method of loss cultivation. the researchers of this company propagated each plant with the same characteristic of the mother. they achieved this with the method of biografting on seedlings. the products of this company have a blue label and can be exported to all countries. this company has reduced costs and increased productivity by providing healthy and original seedlings to operators. specialists of a company of scientists succeeded in designing and internalizing the new generation of smart solar skylights. a product equipped with internet of things technology that is at least half the price a similar sample is offered abroad. and this is the result . thank god natural light instead of artificial light. after 7 years of research work, danesh-banyan company researchers loca

seng, as a lower question, please tell us the latest road statistics and whether we have any restrictionsour transportation axes . yes , the nowruz trips of dear compatriots are still on the surface the axles continue both in the outgoing and return routes. the total volume of traffic up to this moment is 39. 98 million traffic has reached on the country's roads, which is an average of 26 million daily traffic on the country's roads, compared to the same period last year, a 3% decrease in the volume of traffic , and we see that the majority of this decrease is due to unfavorable weather and atmosphere conditions. at the beginning of the new year, we still have the largest number of cars for nowruz travelers in mazandan province, about 306,000 cars in gilan province, about 230,000 cars. 75,000 vehicles in khorasan razavi province and 950,000 vehicles have been removed from tehran province so far . considering that the end of nowruz holiday is approaching, this group of loved ones will also return to their own vehicles . we don't have one-way at the moment. yes , all the main routes and com

we have a land like mohammadreza seng sefidi beside the children. also, sepehr mohammadi is back, but the skeleton of the team is a very young team and a very future team that needs a very good preparatory game for them and they are very worthy players as long as they are supported, now mr. asdeem is the time when we should we should support the national team, we should encourage the children so that they can participate in the competitions with full concentration, effort and motivation. we have a very good team, a very good technical staff with knowledge, we have very good children who are very talented and can express themselves very well, but on the condition that they are supported and focused and with high motivation, they can participate in these competitions. god willing, we will see better matches after the morocco game. i think the loss we had against morocco was very appropriate and timely for our youth. they were hit with that kick they should know that no team should be underestimated . be sure that in the asian tournament, we will have

markets have been a mixed bag, the csi posted a slight gain while the hang seng fell.eal estate legged behind. the annual session of parliament is ramping up with more emphasis on what leaders did not do. for more, let's bring in our china reporter. >> not a lot of surprises. a lot of targets are in line with expectations. the premier presser was canceled so that was a big event. we're looking for the passing of the organic law which codifies the government serving the party. >> front and center, are we any clearer for how china would get there? >> we saw some cpi numbers. economists are saying it's not going to last but interesting, increased trips per capita spending the priest about 10% pre-pandemic, people are being more frugal and there is a mixed bag but we are not seeing anything concrete for how we will achieve this with not a lot of change in policy. focusing on manufacturing and stay the course even though foreign countries are concerned about overcapacity and what will happen. >> people are saying you need more stimulus. we had data, the cpi print was in the

seng kalim counted once, after that i took care of my arrival very well, the doctor came and saw me, then took me to city esag according to the minister of health and medicine, the presence of specialist doctors in hospitals during nowruz is mandatory, no hospital can be without specialists , but according to the division of work that they do , specialists in all fields must be present in the hospital. have a heart he was a cardiologist. yes , it's different whether they visit us during official holidays or non -official holidays. during these 13-14 days , these professors always come for a visit in the morning, usually for 3 to 4 days during nowruz holidays , 24 hours a day. we are unchallenged this year, the delivery of the year it was 6 o'clock in the morning. we had an operation at 8 am this year, and i was in the operating room almost every day. my clinic was open every day, out of 24 active clinics, 17 of our clinics are open and are visited by professors , and 7 clinics are actually closed . these are called super-specialty clinics, which are run by generals of the same field,

and they serve with heart, i am personally grateful to them, seng kalim the first time i counted, i didn't go to a specialist or a regular doctor, but i took good care of my bad arrival , the doctor came and saw me, then i took cts, i don't know, he took a video of my heart, took an ecg , we came during eid, he was a specialist doctor and performed our work is done, according to the minister of health and medicine, the presence of specialist doctors in hospitals during nowruz is mandatory, no hospital will run out of specialists. it is a directive, but in the form of actually dividing the work they do , there must be specialists in all fields in the hospital. if god forbid , there is an emergency problem, a heart attack, i don't know the problem. this holiday was created that he can't take and they must be given emergency services . because they want to do an endoscopy, they told them to see a heart doctor first because they have heart problems to see if they can do it or not. was he a cardiologist? yes, to honor us. teaching hospital and university hospital, fortunately, the medical and e

weeks sales my extended this month, so hang seng tech getting beaten up.nce take you to the culprit. once the crown jewel of commerce, alibaba struggling with competition, scrapping listing and logistics plans just couple of months after saying the same for its cloud unit, investors not liking the strategy, stock is down. tom: avril, excellent run through, thank you indeed. let's focus on the story out of the u.s.. officials saying search-and-rescue has been suspended after yesterday's dramatic bridge collapse, six people unaccounted for and presumed dead. the disaster happen when a ship hit the francis scott key bridge. a call from the ships allowed authorities to limit traffic on the bridge and reduce casualties. president biden: i spoke with the county executive, united states senators and the secretary of transportation is on the scene. we want to send all the resources they need, all. we will rebuild together. tom: let's bring in john with the details. get us up to speed in terms of recovery around the bridge. john: we will see more recovery looking f

>> chinese equities recover, hang seng extending gains from yesterday.eeing chinese names gaining ground for three days. developers are on the booth and investors shrug off underwhelming npc. we talk about tech it has risen 20% from january. flip the board because it is worth talking about real estate. we've been watching china, because of investment-grade credit, moody's cut it to junk territory and chinese lenders reluctant to lend or provide assistance because they want collateral before they sign off on a loan. let's flip the board and zero in on the yen. boj governor talking about weakness in consumption, prompting sectors to pair back that's that we will see an imminent move. the yen is weaker than the greenback. if you look since the start of the month we are seeing dollar-yen pull down, putting pressure on equities and jg these are feeling the pressure hull. turning her attention to u.s. cpi. tom: april hong on japanese equities. of let's get you some breaking news on earnings. an italian insurance giant with a beat. it is a beat on the full year

hang seng really declining.around 5% was more ambitious than investors expected given how challenging it was to meet that target. more headwinds in 2024 so the question is how beijing wants to meet these goals. shuli ren is joining us now and it's difficult because they wanted to convey confidence, but they need to back it up with fiscal stimulus. no indication of that. >> that's right, so what we are seeing is basically a carbon copy of numbers from last year, even though economic conditions have changed. the government sees cpi to reach around 3% even though china is slipping to deflation. economists were hoping that the beijing will pick up its fiscal deficit using the fiscal power to boost the economy because we have seen central bank rate cuts have not worked. still, 3%, very anemic. china's deficit can hit 6.6% this year, but it is nothing compared to what we are seeing in the u.s.. during the pandemic we saw double digit deficit. people are asking how can you reach the same growth target even though econo

hong kong's crown jewel, the hang seng index today trades at roughly half its value before the 2019 protestsime since the economic freedom of the world index started more than 50 years ago, the city has lost its spot at the top of the ranking. there is concern that provisions in hong kong's new national security law around state secrets and links to foreign entities could have a further chilling effect on many businesses in the financial hub, with a warning from one washington—based political risk assessor, to clients, be cautious. my advice would be to play in very safe and _ my advice would be to play in very safe and potentially consider doing such work— safe and potentially consider doing such work outside of hong kong, rather_ such work outside of hong kong, rather than risk the vagueness of the law— rather than risk the vagueness of the law coming back to bite them. in hon- the law coming back to bite them. hong kong, the law coming back to bite them. in hong kong, alan zeman is a prominent figure in the business community and he believes authorities will prioritise protecting the comm

hang seng tech is where we're seeing the bleed today. it is the consumer related -- those are the key drags despite some of these chip makers managing to pay some of the earlier losses thanks to china reaffirming its self-reliance in technology. you have to wonder where this is going to go with u.s.-china tensions at play, tom. tom: amd is set to hit a u.s. government roadblock. for more on this bloomberg scoop, let's bring in peter, an executive. what is the significance of this abd roadblock for the u.s.-china relationship? >> well, this really underscores how serious the u.s. is in its efforts to try to block china from getting some of these ai technologies. so important commercially and also for military operations. amd has been competing more aggressively in this field more recently. when the u.s. first imposed restrictions on the ability to send these chips to china, nvidia was hit with that. we knew that amd has been stepping up its competition in this field. what we found out in this story is that amd has tried to redesign it ai

the country's top leaders for the consumer, the real estate sector, baby: stimulus, and csi 300, hang seng edging higher today. a sign of risk appetite we are seeing in the region is coming through from chinese tech stocks. meituan surged by 11% earlier, the most in one year. jd.com unavailing price cuts a day after removed from alibaba, a sign of weak demand by that is risk on in the region partly thanks to what we are saying that if u.s. data. tom: expectations are high ahead of the national people's congress. joining us from singapore. let's get to the action stateside, stock traders in risk on mode is the fed's preferred inflation gauge met expectations, a fourth consecutive months of gains coming through for u.s. stocks. i am joined by the chief equity strategists of bloomberg. always fantastic to get your insights. what do you make of the market reaction to the inflation print yesterday? >> it is consistent with market reaction we've been having all your. it is really a story of the idea that inflation is still decelerating, still well intact. it year-over-year numbers generally in l

the hang seng up 0.2%, bucking losses we saw last week. let's get more on what to ask back from china this week and bring in our chief north asia correspondent stephen engle in beijing. as well as eric from bloomberg economics and our asian equities reporter charlotte yang in hong kong. steve, it is a big week for china. >> yes it is. that gdp target we will get from premier li qiang's work report tomorrow morning will be indicative of the level of confidence. authorities have in the economy going forward. it's been a difficult 2023, with multiple shocks, whether it is property obviously, consumer confidence. the external situation and the like has cast a pall on the economy. we did see the national team in february prop up some of the equity markets which were slumping also during the lunar new year holiday which was in february, we saw tremendous spending by consumers as they traveled but you have to take that with a grain of salt because two weeks of travel spending during the lunar new year holiday, also known as the spring festival, d

the hang seng reversing losses that we've seen in the last few days. kospi up .5%.are keeping an eye on the cpi print to ascertain whether the fed may move earlier than anticipated. some of the movers at we are watching. hon hai jumping as much as 5.5% in taipei after local media reported that hewlett-packard enterprises -- getting a lift as well, smic up by .2%. keeping an eye on niaomi up as well. in the broader market, mixed picture. cpi is front and center. plenty more ahead. keep it here with us. this is bloomberg. ♪ haslinda: shanghai, shanghai, welcome back. china markets heading to lunch. csi 300 index slightly in the negative, down 0.1%. lackluster, tepid, however you describe it, renewed concerns about vanke. downgraded by moody's to junk, just when you thought the worst might be over for china's property sector, here we are again. csi 300 flat. the yuan trading at 7.1778. bear in mind, csi 300 is up 13% since its february low. sentiment has recovered, for an investors have dipped their toes into the market, but not enough. today it ain't happening, csi 30

hong kong's crown jewel, the hang seng index, trades at roughly half its value before the 2019 protestfreedom of the world index started more than 50 years ago, the city has lost its spot at the top of the ranking. now, is concerned that provisions in security was around state secrets and links to foreign entities could have a chilling effect on businesses in the financial hub. the warning from one of washington, dc —based political risk consultant with financial clients — be cautious. mt; clients - be cautious. my advice would _ clients - be cautious. my advice would be - clients — be cautious. iji advice would be to clients — be cautious. iji: advice would be to play clients — be cautious. iji; advice would be to play it clients — be cautious. m; advice would be to play it very safe, to consider doing such work outside of hong kong, rather than risk the vagueness of the law coming back to bite them. �* ., of the law coming back to bite them. �* . ., , ., , ., them. alan zeman is a prominent fiture in them. alan zeman is a prominent figure in the _ them. alan zeman is a prominent figu

leading the charge, meituan helping to boost the hang seng after he got its upgrade from the outlook from stable to positive by moody's. this is the chinese food delivery giant. let's take a look at what else is moving higher. the taiwanese iphoto maker that also makes ai servers is rallying to a record high and has been moving higher for this month. at the start of the month we saw it posting strong quarterly earnings and between then and now per urges -- a brokerages upgrading their stock. let's take a look at some of the drugs as well. we have the icbc earnings, chinese state lenders have been showing ratio is rising, increasingly it looks like the property crisis is showing up on their balance sheets. we have bank of china, country garden expecting to show deepening losses. it did close a percent -- 8% down yesterday. you were talking with mark, we have seen a brief respite on dollar-yet after a summary for the march meeting where they heightened rates and somehow managed to send the yen weaker. we see it move back toward the 151.3 level. japan equities a reversal from yesterday,

the nikkei, hang seng, and brent crude trading well.h summertime just around the corner, thursday was a stark reminder ofjust how fickle british weather can be. yes, we had some snow, some of it settling for a time in northern ireland on thursday. it was a wild day, wet and windy for many as well. and in fact in wiltshire we had over 40 millimetres of rain in a 24—hour period. now it�*s all due to low pressure that�*s anchored itself to the southwest and that low is still going to be with us during the day on friday. the showers, hopefully few and further between in comparison to thursday�*s weather. and we�*ll start off on a relatively quiet note for good friday with a few scattered showers around, but they�*ll become more widespread as we go through the day, drifting their way steadily north into the afternoon. so some of the showers could still be quite potent from time to time. the winds quite blustery, but with a little more sunshine, a little more warmth, 9—14 degrees celsius our overall high. move out of good friday into the star

the hang seng is up 0.1%. this was after significant data out of china where factory output and retail sales came in higher than what markets were expecting for the month of january and february. that positive sentiment is turning in the equity moves in asia. the biggest move in japan with the nikkei 225 moved higher 6.2%. this is the expectation is they will see the bank of japan putting an end to the years of negative rates. let me bring you back to europe and show you the picture on the equity front. we can see there are moves to the upside across the indices here in europe. you will see a very busy week for the central banks in europe. we will hear from bank of england and norway central bank and the switzerland national bank. plenty of action this week from the central banks. >> silvia, thank you so much for the update from europe this morning. let's continue this conversation and talk about the portfolio for the week ahead. joining me now is douglas bonaparte. he is a member of the cnbc advisor council.

csi 300 in the hang seng both seeing some green headed for a for the week. npc underweight failed to spark joy this week and that is what we're are seeing in the asia-pacific. >> interesting dynamic that doesn't have an impact on the asia story. april hong and singapore, we thank you for your story. i want to stick with that story because in the state of the union address president joe biden announced the u.s. military plans to establish a temporary port to ramp up the delivery of a and ease the territory sparked by the israel-hamas war. president biden: i'm directing the u.s. military to lead emergency mission to establish a peer on the coast of gaza and to receive large shipments carrying food, water, medicine and temporary shelter. no u.s. boots will be on the ground. the temporary peer will enable a massive increase of assistance getting into gaza every day. kriti: let's bring in paul who heads up our coverage out of dubai. there's a lot going on in this gaza story. for a global audience it comes after a week of primaries and caucuses were joe biden actu

>> frank, we will start off in asia it was a mixed quarter you saw a significant move with the hang sengut of hong kong the tech kocounters moved significantly. we are down 3% there marginal losses for the first three months of the year, but gains in japan and that market has been propped up 40,000 points that is a key mark 20% gained on that figure. a big gain pon that front. that entire market has been looking at the yen let's check on that. 152 is the key intervention mark by the bank of japan which could step in to buy more of the currency we sit below that figure at 151. now on to europe and this is where we are looking today we had seen positivity across the quarter for europe, but record territory as well for the french and german markets. we are seeing that mixed picture with the ibex 35 out of spain sitting in negative territory. happy easter, frank. >> thank you very much. >>> turning attention back to the markets. fed governor christopher twaller throwing cold water on the hopes of a rate cut. for more on this, let's bring in the vp of fixed income at goldman sachs. p thank yo

jd.com leading the charge today, helping the hang seng with the rebound.t is the consumer names that are lifting the broad gauge today. this is as investors keep a close watch on what we are going to get from the most senior officials at a press briefing, including the, pboc governor the commerce, the finance ministry chiefs potentially giving us some clues on how exactly they intend to boost consumption to help the chinese economy reach that around 5%. growth target jd.com in focus because of its earnings later today, tom. tom: we are certainly looking ahead to the press conference in a little under 50 minutes time. avril hong with the check on the asian markets. really interesting to hear from japan's largest bank on expectations that there will indeed be a rate increase coming through from the boj in around two weeks time. the press conference out of beijing with the pboc, the finance ministry, and regulators around the securities side as well all expected to speak and answer questions. here is what else is on your agenda once you get past that importan

hang seng currently down by 7/10 of 1% and the nikkei also in negative territory.-- sinex down. we've been talking about froth in the market. let's stay with india. it is in the grips of a spicy court battle over butter chicken. for weeks, two popular restaurants have been fighting it out in high court over who can call themselves the inventor of the dish. neither side showing any sign of chickening out. our reporter joins us with all of the juicy details. good to have you with us. what is this fight about? shruti: it's between two restaurants, both of whom claim their chefs invented the dish, butter chicken, which is popular the world over. the lawsuit was filed in january and this month we expect many procedural aspects in the court. at the heart of the lawsuit is the claim which restaurant has claim over the title of inventor of butter chicken. we have one that was established in the 1940's, and on the other hand we have a fairly new restaurant established in 2019. the older restaurant once the newer restaurant to stop claiming it has legacy over the butter chic

there is an etf called the global x hang seng high dividend yield etf that it has a dividend yield of 10%. so i wouldn't worry about the sectors. i think the market is going to go up, and if you have some yield on top of that, it's even better. haidi: it is so interesting, the bank of japan hikes for the first time in 25 years, and the reaction from fx and equity traders is kind of a collective shrug. do you think that narrative just continues? mark: well, i think that is a sign that the boj did a very good job of communicating that it didn't cause shock incarceration in the market, and indicated that it tends to be very careful. i would say our own forecast was for 140 for the dollar-yen 12 months from now, so we expect a mild depreciation, 5% or 6%. but the thing that i am sure you are very well aware of, is to have accident deflation. that is incredibly meaningful in a country where over half of households and corporate balance sheets are basically bank deposits. there were those massive cash towards the working through two decades of deflation, but if we are exiting at that deflat

hang seng, shanghai, there's a historic union wage. nippon steel agreeing to an almost 12% raise. honda going up 5.5% high. mitsubishi agreeing to a record pay increase. this is bolstering the case for japan's central bank to begin raising its rates at its policy meeting next week. joining me now is the senior japan economist of goldman sachs, tomohiro ota. thank you for being here on a day like this. >> thank you for having me. >> by the way, toyota doesn't buy a perj, ba u they offer workers record bonus payments. auto industry obviously a key industry in japan. what does it mean across all industries and what does it mean for the meeting coming up next week? >> we have seen major companies announce wage hikes. most companies accept the wage height request. we know that. they announced that the average base wage growth quest by the trade union was 4.3%. so basically all the companies except those that request otherwise, it's going to be high. 4.3%, which is much higher than last year's number, which was 2.5%. so but one observation, this is a very preliminary number because we h

. >>> china's hang seng is dropping in the decline in shares of li auto.is on par for the worst quarter since 2022. other chinese ev makers moving lower like nio and expeng. >>> and accenture is cutting full-year guidance and clients are facing economic uncertainty and pull back spending. shares are up 35% over the past year, but is now on pace for the worst month since december of 2022. shares of accenture up .50%. >>> turning to the latest around apple. shares are looking to recover this morning after sliding 4% yesterday shedding $113 billion in market value after the department of justice unveiled the anti-trust case against the tech giant. the doj calling the ecosystem a monopoly saying it drove the valuation at the expense of con consumers. apple plans to fight the suit. on "mad money" last night, jim cramer spoke out and not giving up on apple. >> i know a loser case when i see one. the united states of of america versus apple is a loser. the decision of the justice department will go on apple. it is one more buying opportunity because the regulator

over in china, the hang seng and shanghai composite higher. >>> we stick with the overseas action. gina raimondo is leading the delegation. her first stop is the philippines which has clashed with beijing. eunice yoon is joining us from manila with more on the story. eunice. >> reporter: thanks, frank. the secretary just wrapped a press conference at the hotel behind me. earlier today, gina raimondo met with the president as well as the top economics and trade secretaries. she is here to promote the biden administration's foreign policy to solidify the american influence in the area and supply chains. she had said with the president that the u.s. and philippine relationship is ironclad. the president described the u.s. as an essential ally. >> so much together and the best is yet to come. that economic security wis national security. by sestablishing a deeper economic relationship, it will make it more secure. >> the united states is a strategic trading ally for philippines. in the coming months, i hope to see the shared commitments come to fruition. a strong philippines a formidab

we are looking at the kospi down and the best performer overnight was hong kong, hang seng up 1 and-a-halfcent. japan was lower, down 2% on the nikkei average. back in washington, president biden is apologizing for calling laken riley's alleged murderer murdereran illegal, saying he sd have said undocumented. the comment sparking backlash including senator tim scott yesterday with me on sunday morning futures. >> talk about disgusting. joe biden is more worried about using the word illegal or undocumented, the word he should use is murderer. maria: plus, time is running out for tiktok, the house shores up support for a ban on the chinese owned app if it doesn't break ties with beijing backed parent company bytedance. everything you need to know coming up. joining the conversation all morning long, mark tepper, jonathan fahey, right here. "mornings with maria" is live right now. ♪ all right now. ♪ baby, it's all right now. ♪ all right now. ♪ baby, it's all right now. maria: all right. time for the hot topic of the hour. president biden is now walking back his words of using illegal to descr

>>> asian equities out there can you see it hang seng is up 1% let's move on.heri cheng has been talking to the head at milken insinstitute she asked about the health of the chinese economy. >> china is facing the most challenging economic challenges in 40 years. it is a combination of systemic and geopolitical risks coming together at the same time which makes it difficult the investor sentiment is not, shall we say, positive it is weary and understandably so that is because the old china narrative which served them so long is no longer valid. they need a new china narrative. >> we are hearing about that shery caught up with goodwin who is chair of the capital company and asks about the opportunities in china. >> we are constantly looking at the stress and even going back into the u.s. office which is a no-no land, but a ckcontrarian bet. the banking system in china doesn't allow the reset mechanism that u.s. and western markets have this doesn't come as fast and furious. >>> apollo global is winding down the asian business this year head of the asian pacific