♪ ♪ angie: stocks plunge. optimistic of more growth in asia after the s&p hit a 21 month low. gloomy thecers are new mantra is "lower for longer." and china is burning through billions in its determination to defend the yuan. welcome to "first up," on angie lau, coming to you live from our asian headquarters in hong kong.

and korea under way. let's get to heidi. what kind of relief are we seeing, if any? we are seeing a little bit of relief across the region. let me just try and get those latest numbers up for you. korean and japanese shares are just getting underway in the last minute or so. nikkei futures showing a modestly higher open. we were down almost 4% for the nikkei 225. elsewhere around the region, new zealand still sitting low, by 4/10 of 1%. x now really ramping up gains, aussie shares up by 1.5%. i want to take you through what we are looking at in terms of where the markets are sitting after we finished yesterday's horrible session. this is the nikkei 225, a bear

market. we are down 21% from the june hide. also down 21% from its august peak. let's take a look at how it will fare in the day session. it is technically an oversold territory at the moment, but analysts are saying this is not a technically driven market. anywhere around asia and probably globally right now, it is really a sentiment of risk aversion. we are seeing that coming through in terms of flocking towards risk assets. this is really coming through as oil continues to decline. let a bring up that one day chart for you. we saw crude sitting under $27 a barrel. about seeing it fall to 28.66 dollars a barrel. we are seeing a little bit of strength when it comes to that oil price after following yesterday.

despite today's games, we are the close in trading with bear market there in terms of where we are sitting, gains of 1.6 of 1%. today, butow we go we are looking significantly better regionally than we were yesterday, a little bit of a relief, but let's talk about the fundamentals. nothing has changed. oil continuing that relentless decline. china, we are not expecting much in the way of direct stimulus. the pboc is saying very -- they are going to be using operating money ahead of the chinese new year. the nikkei 225 extending gains, up 9/10 of 1%. angie? angie: thanks. a big day on wall street, but

things could have been worse. su keenan joins us. it was up and down, and then, where did ago? last hour buy summed up strength. stocks fell to a 21 month low, part of the worldwide selloff. at one point, the dow was down 565 points before they come back. the nasdaq, down more than 3%, actually posted a gain at one point. he also thinks that the final hour strength again is a possible -- is a positive for the market. we should point out the volume was over 82% above normal. at one point as much as 8%. it is now on pace for the biggest monthly decline since the financial crisis. are falling to october lows, and this translated into

stock action, energy stocks. halliburton, extending to five year lows. of this longer mantra now causing problems for bank stocks fall -- bank stocks, financial firms. charles schwab is an example of a loss in that sector. the vix has soared this year. we're there's some gainers, yeah, at least one. on word that a deal with the chinese investor is going to be near, but those gains were few and far between. angie: how much lower could the market go? su: there is a view that the declines and rough rides likely continue unless there is some kind of relief offered in the way of easing somehow. protectedt expects a -- put -- protracted decline for

the s&p 500. he also says that the plunge we saw on wednesday market looks like a margin call, liquidation-type event, not a positive, he points out. one trader said again, unless there is some action, the u.s. strategically boosting oil reserves, this likely continues. the fed is likely not going to touch interest rates. many said they should not have been raised in the first place. take a listen. foughts not somebody who -- thought that the fed should be raising rates quite yet. i would like to see more certainty in the global economy and tightness in the labor market. the cost of living in the u.s. fell in december. you ask out food and fuel, there were some gains. a separate report on housing sharesthat housing unexpectedly fell, a stall and

the momentum. not the best economic data to be hitting the market at this time. angie, the fact again that we did have buyers come in the final hour gives us some momentum for thursday. right, it is giving us momentum right now in asia. markets in asia are looking surprisingly upbeat this thursday. perhaps wall street's late rally has to do with giving investors the courage to step up some beaten-down stocks. will this continue when hong kong opens up? here is david. interesting technicals. 4 certainly -- announcer: certainly -- reporter: certainly. hang seng was the worst hit. the last time we were at this level was back in 2008. also, it was the threat of how scope -- how deep and ride the

scope of the selloff was. this should be read, actually, but 445 out of the 480 are on the broader index here for hong kong, they were actually lower. 200 or so actually fell more than 5%. in other words, there was indiscriminate selling. technical, as you mentioned, over half of stocks on the hang are lookingand we at the relative strength index, are actually below 30. that is the area in green. to put context into this, this was the rally that we saw in -- weof last year that are basically back to the levels right here. roughly 60% are an oversold terrain on the hang seng index. this is another thing i want to

point out, 70% of the hang seng are actually at one year lows. the last time the proportion of the ratio was this high, you have to go all the way back to the depths of the global financial crisis. in fact, it was even more. this was when greece was really ratcheting up the tensions that 2011, andt, summer of the selloff was quite bad yesterday that it has taken us through 70% of the stocks there, which are at one year lows. 95% of the hang seng index are at three-month lows at the moment. with this tailwind, we could actually see a rally at the open. angie: there is a lot of people with cash on the sidelines waiting for bargains. next, david. checking other headlines, a source tells us that barclays' new chief executive has started a round of job cuts, and asia will suffer the biggest losses. the ceo has been seeking ways to boost earnings growth and

restore confidence in the bank. our sources say that barclays new york and london offices will be affected. the bonus school will become by at least 10%. barclays is declined to comment. goldman sachs fourth-quarter revenue beat estimates. net income, though, dropped 65% after goldman paid more than $5 billion to settle a u.s. government increase into its mortgage-backed securities. the ceo said a diversified business makes delivers solid results in a year of uneven global economic activities. goldman shares soared 2%. to deutsche bank expects post a loss in the fourth quarter on costs for litigation and restructuring. it says that challenging marketing conditions are also hurting the period, cutting group revenue to about $7.2 billion. it would be their first full loss since 2008.

the ceo is been trying -- has been trying to restore investor confidence and earnings growth that had been tethered to costs such as past misconduct. coming up, ernst & young sees 20% more m&a's in asia this year. we will find out what to watch. that is coming up later. that coming up next, even with all the gloom and doom in the market, there must be some opportunities, right? assetl speak to peak management when "first up" returns. ♪

iran policy leader warned against unrealistic expectations. the ayatollah said that iran's economic problems were perhaps 40% due to the sanctions, but mostly due to the country itself. tehran also criticized what it

calls saudi arabia's attempts to settle the deal. the former minister said that riyadh had annexed over iran's returned to the global community. -- panicked over iran's return to the global community. >> it has done everything good to undermine its inception, so i believe that saudi neighbors should come to their senses, and she should understand that they should have a much better future in collaboration in court nation. -- and coordination. angie: the latest accident and china has killed three people and left one missing. dramatic explosions at a fireworks plant also injured more than 50 people and shattered windows of nearby houses. authorities say it is not clear what caused the blast, but confirmed the factory did have a safety license. last week, 10 people were killed in an explosion in a similar factory. vietnam will announce its plans for the next five years today

when the communist party takes a new leadership in charge of the country's past towards the challenges ahead. these include state-owned industries and implement and trade pacts, and vietnam's relationship with china. the leader is being seen as prepared as ready to stand up to beijing. more thans powered in 150 euros around the world. that was "first up." let's look at market trading specifics. the nikkei 225 climbing 7/10 of 1%. in fact, we are seeing gains across the region. perhaps this is where the bleeding stops. early hours, yes, but this is the indication over and south korea, a quarter of a percent up, asset -- asx 200 climbing more than 1.5%. let's talk with the executive

director at peak asset management. people wille perhaps take a look at markets, looking at a lot of oh -- a lot of oversold stocks, picking up bargains. perhaps that notorious dead cat downs? ounce? guest: we have seen global equities in australia up 1.5%, and the asian equities have been coming off their lows with japan at .8% and rising. yesterday, wall street was about -- was down about 500 points before a rally, and the dow jones closed down to 50. -- 250. we are in oversold territory at the moment. whether there was a bounce or not remains to be unseen. seen.ains to be

angie: so are you deploying cash right now, or are you waiting to see if there is a resistance level to this selloff? >> as i have been noting, we don't want to be catching a theing knife and going into trench. a lot of compelling value approaching at the moment. we are seeing a number of stocks trading below their values, and also below the cash backing, and top stocks we are looking at. theand gas have some in market saying we will see $20 a barrel. we are seeing some commodities fall to 6.5 year lows, but there are values starting to approach, especially in the health care sector, that we are keeping our eyes on. angie: how close of a correlation are you seeing between oil and equities? guest: we did cover that yesterday.

traditionally, there is 25% correlation. if you look at the last five has not been necessarily correlated to the index whatsoever. over the last six months, what we have been seeing is that that correlation has gone from 25% to 91%. every time that oil is falling i-5 percent to 7% overnight, we 5% to 7% -- by overnight, we have seen that. , orshould act as tax cuts investors should be encouraged by lower oil prices, because that leads to increased spending in gdp and growth, but investors are nervous about the impact on global growth. gloom and amidst this doom, we are also reminded that retail sales out of china was not that bad. gearedthe gdp now towards the services sector, perhaps we are going to see that

economy bolstered by consumers alongside the rest of the world. the numbers that we got from china were not that bad. retail sales are slowly below expectations. investment also missed slightly. but the chinese market perspective is down over 20% in the last week, so it is starting to reach oversold territory, and investors will be watching carefully whether that devaluation in the chinese currency will continue, and what impact that will have on global markets. angie: are you going to get in the china? are you going to add to your portfolio in asia? about we are sitting on 40% to 50% in cash, so we are fairly cashed out, but looking for the opportunity. we really want to see some stability and global markets. we are watching the oil price closely. the big concern in the u.s. is

that the financials have a large exposure to the oil and gas producers, so if we do see further defaults, that would obviously impact the financial sector in the u.s. and globally. we are watching the oil price very carefully. we are watching whether chinese authorities will intervene in the market and provide additional stimulus. we are reaching some oversold territory, so we are watching the closely. angie: all right. 50% in cash. that is waiting on the sidelines, to be sure. thank you so much for that. coming up next, the ongoing selloff in equities and commodities has investors buying the yen is a safe bet. more on that next. ♪

announcer: these are your

headlines. the yen extending to its highs in a year. the yen has strengthened more than 2% against all or any one of its major counterparts this year on the back of the relentless slide in oil prices. currency tied among 15.98 against the dollar that is at the strongest level since january 2015. it also strengthened just 8/10 of a percent against the euro. and credit is increasing in forecast on the back of risk aversion's. and how low can you go? will the russian ruble tumbled to an all-time low as oil prices recap a? -- read have it? havoc?k around, central bank is not like latest at the end, as it sees the ruble trading at fair value. the ruble is the worst

emerging-market of the year, down almost and percent. russia is the world's largest energy exporter, and the rise in oil prices is restricting the government's ability -- falling oil prices is x -- is restricting the ability to let the government out of recession. and advice to china, give up the dollar peg. the dollar peg is meaningless. what the world really means right now is a staple yen pegged against a basket of currency. said that instead of undertaking aggressive intervention, chinese authorities need to clearly tell the market what their policy is, and what specific levels the yuan should be pegged against the currency basket on a daily basis. china's central bank unveiled last month a multicurrency index. they're trying to divest it a way from focusing on the traditional dollar reference rate. those of the stories driving the fx markets this morning. angie: china's determination to

defend the yuan has seen it burned through its foreign exchange reserves, and many economists expect that pile of cash to fall this year. stephen engle taking a look into this for us. at some point, this is going to affect confidence. stephen: absolutely, and it is starting to a little bit. about the signal that the authorities in china are sending. they want to defend the yuan or let it weaken? august, they devalue the currency, and since then they are trying to defend it, but once you start this reverse balance, a it is a tricky one. this is what has happened to the spots. this is a weakening trends course. this is a weakening from the u.s. dollar from 6.2 to about 6.6 right now. keeping it right there, they have been spending a lot of

their reserves, but that is what the reserves are built up, nearly $4 trillion at one point, for a rainy day. nearlyas burned through $4 trillion in reserves. seemed excessive? well, they have been burning inough 513 billion dollars reserves last year alone in the defense of the currency. angie: it is fast, too. and 10 of 12 economists surveyed i bloomberg say they will spend another $300 billion. that would bring it to 3 trillion u.s. dollars, and down by next year.n they will be burning through considerably. alonerning rate last year -- the drawdown was almost the switzerland's entire fx reserves. and switzerland is number four in the world with its stockpile.

that says a lot. regulators are trying to put more clamp downs on the capital controls, also illegal money transfers. there has been a record outflow of capital. this is a big concern, and it should be a big concern. angie: we are hearing that shanghai banks have been told to keep a careful eye on fx commands -- demands from their clients. stephen: absolutely, and one way getting money out of china -- i don't want to say black market, but illegal ways of getting it out. and that is because of the capital controls, and they are clamping down on that. angie: stephen engle, thanks. coming up, the opportunities that lie and the challenges that are facing china. we will hear from an optimistic australian finance minister after the short break. ♪

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you've got the power, to turn on the light shape the best sleep of your life. sleep number beds with sleepiq technology adjust any way you want it. the bed that moves you. only at a sleep number store. angie: a gloomy day in singapore, but things are looking up in the markets. we are half an hour from the open of trading in singapore. you are watching "first up." hour, toshaies this starts the day on asia-pacific stock markets with tokyo, seoul, and sydney opening higher. australia's benchmark is up more than 1%. investors taking part from a late day pairing of losses on wall street. aill, the s&p 500 closed at 21 month low, and future losses

are suggested today in hong kong. its declineued tonight, sinking by the most in more than four months, nearing $26 a barrel. profit probably fell at least 22% last quarter. earlier, the international energy agency said that markets could drown in oversupply as iran repaired to resume exports. sources tell us that barclays' new ceo is starting a round of job cuts, and asia will suffer the biggest losses. they have been trying to restore earnings growth. barclays has declined to comment. well, there you have it. it is looking like a different day compared to what wall street looked like overnight. let's take a look at the market action in asia. ydi. is heid you can say this is

the relief rally we have been waiting for. a lot of these markets are oversold in the asian region. the pan, for example, i think about half of all japanese stocks are in oversold territory. same could be sold in china. -- could be said in china. hong kong listed chinese companies are trading close to global financial crisis lows. but new zealand is still in the red. it is getting a drag down in .erms of milk price forecasts . but the australians are up by one -- a quarter of 1%. we are seeing crude prices in the asian session. the nikkei to 25 is a volatile session. we were back up by as much as 1% and one stage, still up by 4/10 of 1%.

the cosby has also given back earlier gains, now trading flat at the moment. but this is really the driver for the relief rally that we have seen today. after a decline close to 7% overnight, so we are seeing trading gains of 1% now, to $8.67 a barrel. 9.67 a barrel. also, the aussie is up by half a percent, and we are seeing respect for the japanese yen, which is sitting close to a one-year high. angie? angie: heidi, thanks. in costars of delays overruns, chevron's $54 billion australian project is about to come online. let's go online now with james payton in sydney. terminal there is one

of the most expensive lng ventures. kind of a bad time for energy prices. that's right, it is a huge project, the largest resources project in australia's history. more than six years after chevron and its partners, shall in a song, approved the investment and decided to go we are at a point where the project is actually approaching the finish line, and it is getting ready to ship the fuel to asia. the market looks dramatically different now than it did in 2009. year, breadf that and oil were trading at about seven or eight dollars. today it is under $30. the budget was $37 billion at the time, and out as ballooned to -- and now it has ballooned .o $254 billion

that is what typically drives the revenue and economics for these megaprojects, someone oil prices tumble, that would eat into the projects -- beaten to the returns of a project like gorgon and negatively affect its economics. gordon is not alone, chevron is not alone. other companies have started up lg projects in recent months. -- lng products in recent months. they cannot control the price, but it is unfortunate timing. again.you could say that it is probably dragging down the price trend for lng. what is the outlook looking like for lng producers like chevron? reporter: when you look at prices, chevron, for instance, has long-term contractors that are tied to crude, so they have more than 80% of their volumes from gordon and the wheatstone project in australia that are locked up with long-term contracts. prices, look at spot

the spot lge market, prices have declined by more than two thirds early 2014. we are seeing a market that is reeling amid increasing supply from australia, and now the u.s. , and key markets in asia, we are seeing weakening consumption as well. inre are a lot of headwinds the market, and that spot price is important because it has the potential to influence long-term contracts. if buyers in asia look at the current spot prices of around four dollars or five dollars, that may prompt them to at least attempt to renegotiate the long-term contracts they have, so that is an issue that could put pressure on suppliers like chevron. no doubt. quickly, how important is this project for australia's economy? implications go well beyond chevron and the energy sector. there is a lot at stake. we have had $200 billion of investment in eldon the -- in

lng in australia. they will become the largest exporter by the end of the decade of the forecasts are correct. if energy prices are lower, that will affect the revenues for the australian government. and it would discourage future investment in the sectors as well. there are a lot of people well beyond the energy sector keeping a close eye on what happens to the elgin -- to the lng market in australia. much forank you so that, life that of sydney. stay in this space, because the worldwide symposium says output may fall 7% this year, and has its target range at 86 and 93 of oil barrels equivalent. last year's production figures came in at 92.2, the higher and bank of the forecast. australia's largest oil producer said revenue from its new charge can be up more than $1 billion.

meanwhile, oz minerals is surging after announcing its latest production figures. check it out. 7% higher. 32,600 pounds of copper in the fourth quarter. the company also said it is considering issuing its full-year dividends in line with policy. australia's finance ministers says the nation's 25th year of growth shows businesses are "doing something right," despite the challenge posed by the slowdown in china. say the challenge now is for australia to remain competitive. in australia, we are an open trading economy. importantlmost an trade relationship. it has been predominantly focused on resources, iron ore and others. what we see is a lot of

opportunity to expand our relationship to other parts of the economy. --m an australian part of point of view, frozen commodity prices for key commodity exports, yes, it has a consequences for our economy, but our economy continues to grow. it is transitioning quite well from resource investment driven growth. other parts of the economy are becoming more competitive. -- more competitive as the floating exchange rates adjust. and the government is ensuring that we are the most competitive we can be. internationally. we are pursuing tax reform to make us more growth friendly. we are pursuing an ambitious free-trade agenda, with finalized agreements with south korea, china, japan. we are pursuing one right now with india, and hopefully europe down the track. and with a vicious

infrastructure investment program. there are a whole range of things happening in the australian economy to assist in the transition that needs to take place, but we are quite optimistic by the outlook. look at whattake a we are following for you on the bloomberg terminal this morning. glencore has drawn up a short lens of potential buyers of its stake in its agricultural units. the group includes singapore, qatar, and abu dhabi among others. it is part of glencore's plan to pay down $12 billion of debt, and it hopes to be completed in the first half of this year. twitter jumped as much as 14% in new york on speculation that news corp. may be content on buying all or part of the company. twitter was seen as a takeover target as shares slumped to a record low, and that fueled rumors of news corp.'s interest.

however, a spokesperson says news corp. is not interested. twitter finishes the day 4% higher. we may see another tie up between a drug maker and a tech company. sources say glasgow smithkline and qualcomm are in talks to venture, although it has not been decided yet. glaxo is looking for ways to develop new medical technology. it is focusing on internet connectivity for inhalers. applied to open its own stores in india for the first time. in november, the indian government relaxed rules for companies selling a single brand to stores 30% of inputs locally. it may help apple better tap into a fast-growing market just as iphone sales appear to be peaking. apple has just 2% of the indian market. it needs to make inroads against samsung and xiaomi. shares closed slightly higher in

new york. those are the stories on the bloomberg terminal. back to you. angie: coming up, believe it or not, january was a record month for chinese firms doing deals in the u.s.. is the spending spree likely to continue? we will take a look back. you are watching "first up." ♪

angie: welcome back. japan's economy minister says he will provide an explanation today about allegations of financial impropriety to be published in a tabloid magazine. the magazine's website claims he and his secretary violated political funding laws by allegedly taking around $100,000 from a construction company. the economy minister says he has not fully read the article, but he will investigate and explain himself to the public.

of a taliban faction says his group attacked a university campus and killed 19 people. at least forgot men stormed the university, firing at random. they were eventually killed by security forces. the motive behind the attack was said to be revenge for pakistan's crackdown on military groups. u.s., british, and japanese government agencies have confirmed that not only the last year was the plan upon sodus on record, but it was the hottest by a record margin. the uk's says 2015 was three quarters of a degree celsius warmer than a long-term average from 1961 to 1990. american climate scientists largely blamed the effects of human made global warming,

combined with one of the strongest el niño events ever seen. global news 24 hours a day, powered by 2400 journalists in more than 150 euros around the world. the bloomberg newsroom, i'm shery ahn. sealed $2.7 has billion worth of deals over the past two years, but there could be more to come. the president told bloomberg that the company is ready for more acquisitions to gain a stronger foothold in the growing online consumer market. he also said he is not worried about china's slowing growth. >> first of all, if you look at the at -- at the overall economy, more than tilde -- more then $10 trillion gdp, not bad at all for such an economy. if you look at the service ,ector, the consumption sector

and also the sector that has to do with technology, they are doing pretty well. china is in transition to move to a new model, so it does take time. reporter: the problem at the moment for your stock listed on the nasdaq is still being used as the proxy for slowdown, whether it is in manufacturing or not. is that a reflection of what is happening in your country, or is it what is happening more broadly with the data in china? comment on the stock itself, but there are really two factories to look at how we move forward. the first is the macroeconomics, the service and overall economy. online.nd is really -- if you look at the off-line/online connectivity, less than 1% of business is done off-line, so there is a huge

potential to move these activities to online. that is also a multifaceted part of china's internet plus, to apply internet technologies to other traditional industries. that is going to take off. you heard it from baidu. despite china's economic slowdown, they are on a shopping spree abroad. it is not just china. the asian pacific accounted for more than a quarter of global deals last year. our next guest says that is set to jump 20% last year. let's get with a senior financial services partner at the wide. -- ey. 20% is a considerable outlook. guest: i think where we have seen equity markets, it is probably low.

the odds are looking higher. it's slightly tongue-in-cheek, there are a lot of equity bankers looking for something to do, and m&a is good, right? angie: where exactly are they looking? guest: a number of sectors. people are buying rmb. we have already seen a few of those bills, and all the speculation we are hearing in the market is around that, where you have health care companies buying genentech, biotech, i think we will see banks get into fin tech. people are just buying into new concepts and businesses. where business may be slightly stale, there is an opportunity to find something new. to getso is it cheaper m&a and someone else's research and innovation, rather than invest in your own r&d? the already see with the output is. guest: exactly. why not buy something that is prepared? is that where x miniature

money is going? -- capital expenditure money is going? guest: i think so, but i think we are going to see the economy not quite where it was a little while ago. people focusing on cost. i think we will see a lot of collins -- a lot of consolidation in place where people are trying to get in and cut costs through scale. we will see a lot of consolidation in china as well. angie: here is what is interesting, the u.s. dollar is strengthening, the yuan is going the other way. what is happening? are they trying to just spend as much money before they perceive that it will be devalued even more? guest: this is the on the roof moment at the embassy in saigon in 1975. it is a little bit of that. people think the room and he will take a further tumble, it is a cheaper deal if you -- the renminbi will take a further

tumble, it is a better deal if you do it now. you pay more dollars, but you get more dollars in profits. it is not a different economic equation, just a higher price. if you are investing in value, it does not make a difference. if you are strategic, you will buy cheaper assets at lower values. seeingwe are also consolidation in china. is that were we will see a lot of m&a? at china m&a,look there has been very little in down to m&a. angie: they are doing deals with each other. guest: there is a lot of domestic m&a going on, and it will continue. the renminbi doesn't matter, so we will continue to see a lot of domestic deals going on. as the economy is going a little bit, people are looking for ways for economies of scale to go out, to get those cost-cutting measures, and still keep that information out there. again, if you look at the

capital markets, 700 companies are looking to come to market, there is a bit of a pipeline. chop throughlow to the pipeline. some of those companies will need financing. there is a lot of motivation to actually turnover deals in the market. but you said something interesting, financing. in this environment, liquidity could start to be an issue. is that going to affect the m&a's speed? guest: not in china, because a lot of people have these renminbi funds on the sidelines. venture capitalists raised the money last year when things were hot. angie: it sounds like a lot of people. there is cash on the sideline, where do you spend it? so for investors looking for the outside in, if you are looking at opportunities already heard about in the tech space, consumer space, all the rest, but what about banks like goldman sachs? basically made a lot of money

advising on m&a. who do you see as big players in china who are advising? guest: i think you have domestic , we have seenon them do a lot of deals in the last year. take as muchon't advice when they are doing these deals. they have their own teams. if you look at the banks and so on, when we see them play, the serial acquirers, they kind of have their own guys. they hide them out. angie: and the fees are really low in asia. not as -- guest: it's not a rich market. make moneygoing to from this, you have to make money from being at the site. it's not necessarily about matchmaking. angie: so 20% this year, what does 2017 look like, very quickly? it hasit is january,

been a choppy few weeks, but i think it is more of the same. i don't see why we should change our outlook. i think a lot of this stuff will continue for a wild. last year was volatile, this year was volatile, next year, volatile i think. angie: always good to talk to you. thank you for joining us. on bloombergo come television. you are watching "first up." stay right there. ♪

angie: let's take a quick check at the markets. things are warming up in our live look at the imperial palace in japan. we are seeing green there, and we are also seeing green on the nikkei 225. in sydney, australia and stocks are climbing along with the rest of asia as we are seeing stocks

rebounding with high-yielding currencies and covered futures amid speculation that the selloff we saw may have gone too far. cosby climbing a third of 1% higher, and singapore starts ing in just over 15 minutes from now, and that's what it looks like there. .hat's it thanks for joining us. we've got "trending business" coming up next, and we have a look at what is coming up. >> this is what it's all about. bottom of the hour, china, hong kong, coming on strong. of a reliefen a bit rally take place. we are looking at that. and foreign exchanges are very much at the four. -- fore. the dollar bull run has not been as they are predicting. yen, of course, the haven

play they are talking about. and looking at social media, on twitter itself is rupert murdoch , interested in buying all or part of it. we will ask if that will go in the way of when he bought myspace. ♪

just tooes, it is cold to do a good cold opening. candidatescover for here in new hampshire. in a moment, we will have hot and fresh poll numbers from the state. before we unpack that showcase showdown, it is time for bubba. bill clinton was back in new hampshire, stumping for hillary. blasting republicans for negative politics, and talking about eating dunkin' donuts. bill