♪ it is friday, the 15th of july. i am angie lau. this is "trending business". ♪ we will be live in paris, tokyo, melbourne this hour. here is what we are watching. hundreds injured by a truck driven into a crowd in nice, france. prosecutors are calling it a terror attack. asian stocks rising for a fifth day, on track for their best

weekend three months. australia's market is at a 2016 high. set to pop in tokyo after u.s. shares soar 27%. you can let us know what you think of today's top stories by following me on twitter. don't forget to include #trendingbusiness. let's begin today with breaking news from the south of france, where a truck has driven into a crowd, killing 77 people in nice. they are now calling it a terror attack. we are live from paris. tell us what you have on the latest news. basically the latest we know now is that in the past 15 minutes, françois hollande has returned. he was celebrating bastille day.

right now in terms of what has happened in nice, 77 people confirmed dead. we are reporting about 100 others have been wounded, and this occurred earlier this when one person, at least one person as we so far no, was driving a large, white a crowd of into revelers watching the fireworks celebration for bastille day on , a promenade des anglais popular area for revelers and visitors to the city of nice. we do know the police have actually killed that driver after an exchange of gunfire. paris prosecutors's office has opened an investigation into

murder, attempted murder, and links to a terror enterprise. has anyone claimed responsibility? no.s far as what we know, this one person is responsible as far as we know for this attack. details are still coming in throughout the course of this evening and tomorrow. what i can say on top of this is deputy mayor did and grenadesd arms inside that white van, so potentially this man or woman was intent on causing even more harm and instruction, but we don't know whether it is a lone wolf or whether he or she had accomplices. reportedly this white truck traveled for a couple of kilometers, the length of a few

football fields. audience, this is yet again another terror attack, especially on the heels of the november attack in paris. what is the mood like in that country right now? >> of course everyone is on alert, and in terms of the security situation, we are looking ahead to tomorrow when mr. hollande has a security looking atsically the assessment of where do we go from here, where does the country go from here. incidentally, perhaps coincidentally, earlier he said he was going to lift the state of emergency that he had declared on november 13, 2015 hen 130 people were killed. aheadis potential looking

that he may revisit that exploration and reassess and say that this is something we need to continue. that security meeting is set for 9:00 a.m. local time. angie: live for us in paris with the latest from nice. thank you. risk on rally continues in asia after u.s. stocks posted fresh record highs thursday. here is a look at today's market action. is it trading as normal in singapore this morning? juliette: it certainly is. that big disruption on the singapore exchange yesterday at 11:38 a.m. local time. they tried to come back online, but failed. singapore up, only to bank stocks in the red. so joining in that positive sentiment we have seen. asian stocks poised for their best weekly gain in three months. nikkei up by .5%, adding to

the 8% gain so far this week. we are expecting line to start trading. it does look like it could soar significantly on that ipo with orders outnumber of sales. in korea, up by a third of 1%. australia's market holding at 2016 highs. it is the highest level we have seen on the asx 200 since august last year. tie one coming online higher. -- taiwan coming online higher. it is looking like a very positive start to the trading week. track forse yen is on its worst weekly loss in 17 1999, weaker again today, 105.49. the aussie dollar also coming under pressure.

thesee seen commodity-based currency sold off ahead of the china economic 76.14. economic growth slowed to a seven-year low last quarter, but it has been on a steady grind. we have a preview of second-quarter gdp numbers due out within the hour. what can we expect? more evidence of a manage slowdown in the second quarter. the gdp chart shows a fairly predictable and save set of stairs, one step down at a time. authorities in beijing would prefer it so. the median estimate is for 6% -- 6.6% growth. you can see the step-by-step downward pace. that would be the slowest pace

of quarterly growth since the first quarter of 2009. paper has so far navigated a gentle deceleration instead of a hard landing. by most accounts, china is in an -shaped recovery. firmed up,rices has helping to ease deflation at the factory gate, providing lower real borrowing costs. this chart shows how the state has stepped up, fixed asset stimulus more so than the private sector. you are seeing the private sector remain more cautious, while the state is getting involved with more asset injections. spending up fiscal 19.9% year over year. we will get some other june

numbers this morning, including investment, still at 9.4%. the state is picking up efforts to bolster the economy. factory output may also indicate 2slight dip from 6% in may 5.9% in june, but essentially the growth rate has been steady. check on the pulse consumer, retail sales may have dipped below 10% growth for the first time in a decade, but the drop-off is miniscule at the most. we are expecting 6.6 percent gdp growth in the second quarter, but difficult to sum up this economy with one number as some regions are still growing at double digits, while heavy manufacturing, steel, and co-dependent areas in the east are suffering with recession like conditions, stagnant wages,

and job losses. angie: it is the tale of many cities in china, that is for sure. some other stories we are watching today, david with the roundup. david: we are waiting for line to start trading in tokyo. the story is no one wants to sell at current prices. we are looking at ¥3300 as the current price. the orders have not matched just yet. the share price soaring in the first day over in the u.s., close well off highs of the session, but 26% first today. not everyone is happy though. a little bit of expression from the left side. they will use the cash to make further inroads across japan, taiwan, thailand, and indonesia. this is the biggest tech missing this year, so a pretty given thatfirst day

it was priced at the top end of the trading range. one stock that has been on a crazy tear, and the magical run continues today for nintendo, .ains of over 6% this morning that's 80% since this time last thursday, taking shares back to the highest level since 2010, down to the early success of pokémon go. nintendo announced they would launch in the u.k. on thursday, and the street is looking at this, coming up with a formula that it can hopefully apply elsewhere. while nintendo appears to be back in fashion, it also wants to reach out to its old, loyal customer base, and that includes me. it has announced the comeback of its 1985 console, the nes,

nintendo entertainment system classic edition will come with built-in games and soon be available. totendo is now trading close 200 times earnings. this time last week, the company was valued at $20 billion. it is now valued at 35 point $5 billion. -- $35.5 billion. what we doing right now? biggest single day jump in seven years for fast retailing. the company reporting profits estimates, operating profit and net income. let me leave you with this picture in new york. angie: thanks, david. breaking news out of france as

we get word that the french president hollande will speak live in 30 minutes. paris to speakto with his interior ministry in an emergency meeting following that attack in nice. coming up later in the show, where we see similar gains in lines tokyo shares as we did in new york? to all be speaking consultancy firm that specializes in japanese games. track for then best gain, but can it continue? this is bloomberg. ♪

thee: a quick check of latest business flash headlines. er has raised its bid for

monsanto. its offer company up to $55 billion in cash. earlier, it was reported that monsanto may strike a deal with another german chemicals giant, basf. monsanto shares rose 3% in new york. deutsche boorse getting a thumbs up to take over the london stock exchange. 53% of shareholders have approved the takeover so far. they need a minimum 60% to seal the deal. investors gave the green light last week and a near unanimous vote. they may still face opposition from regulators. southeast asia's biggest borse was forced to halt stock trading

on thursday because of a technical malfunction, and failed to follow through on two pledges to reopen. the ceo apologized in a statement. at least singapore investors are able to participate today as asian markets are higher today in the wake of the strong u.s. session. my next guest says risk sentiment remain strong. $4 trillion flooding back to the markets since june 27, a few days after brexit. the markets will agree with you, but not black rocks very thing. unless we see the earnings flow through, the stock rally is just a farce. it has been a very interesting rally so far. this rally is predicated on the assumption that a big of central bank monetary

stimulus, as well as the potential for large-scale fiscal stimulus from a range of governments, japan, china, the u.k., perhaps even europe, and much of these hopes have yet to be realized yet. was the bank of england meeting last night, where these expectations finally even thoughity, and the bank of england disappointed for what markets were expecting, we have still seen markets rally strongly, so there is strong momentum behind this move upward at the moment. sethe near term, it looks to continue, but of course it is predicated on a lot of expectations, and there is that possibility that they don't even to wait. -- they don't emerge. angie: boj showing discipline here? certainly a discipline decision. it still has not been that long

since the brexit vote has happened. the article 50 that would result in the two year deadline for the from the european union has not been called. conservative party has just elected a new prime and mr., so ,till early days for the u.k. and the bank of england quite rightly said they wanted to wait to fully calibrate what would be required in monetary policy going forward, but made it very clear that they would move in august. angie: it looks like china slowing economy may be rearing its head when it comes to the aussie and kiwi. gdp, industrial profit, retail and the rest, does this mean that there is going to be an affirmation of the fears about china when we actually see the numbers flow-through? it is only expected to come in at 6.6% second-quarter gdp. >> yes, it will be an

interesting release. china did announce earlier this month that they would be changing their gdp calculation, and now research and development will be included within their capital investment calculations, and they will use that to increase their gdp estimate for last year. a have not clarified whether that would see first quarter gdp increase, but there is that potential that actually with , gdp and theusion second quarter could be stronger than 6.6%, so there is an upside risk due to these new calculations, but with regard to the rest of the chinese data, most of it is likely to continue to look pretty weak, but with regards to australia and is even, we are dependent on commodity experts, and in china's weakening economy, we have seen the state step in more and more and that has led to a

strong surge in state backed investment, which is far as commodity prices are concerned, has been at beneficial. chinese trade data still show high amounts of a range of industrial volumes, copper, iron ore, oil, all still strong imports in the chinese data this week. market etf'sng have seen incredible inflows as investors seek in developing nations at least for some yield. do you think that will continue into next week? what will drive that sentiment? >> it looks like for many different emerging markets, they seem to have bottomed around february. the momentum is seeing funds flow back in, and with such low yields on offer globally, investors are increasingly hunting out the places with the biggest risk premiums.

if you look within the emerging market space, russia, brazil, countries that don't reassure one greatly have seen the biggest performance in their markets. sovereign bonds have returned very well in this low you environment. angie: it is kind of like the game where's waldo? where is the yield. we will leave it there. coming up, the dual listing that has seen stocks soar stateside. debut in tokyo meet expectations? we are live. this is bloomberg. ♪

angie: we are waiting for line to start trading in tokyo, said to jump with bids outweighing sell offers. for more, here is our tech reporter.

are we expecting the strong performance to continue? now shares are still not trading, but they are indicating they will open around ¥4800, up 48% from the ipo price. new york opened 27% higher. shares in japan are indicating that it will be higher than new york if it does open 50% up on ipo day, it will be the biggest and best performance for a large ipo in japan since japan post insurance went live. that was up 55%. anyway you look at it, it looks like a successful ipo. retailf interest from traders who use the mobile app every day. a lot of excitement around this ipo, but overall, the other key take away is that if it closes at this price, it will be vita

$10 billion. valued at $10 billion. angie: i just got a note that it will rise ¥165 every 10 minutes, incredible performance, especially following the ipo debut in new york, but what is the focus now for line with the capital raise? this, we were heading into a long weekend, and that is the question investors will be asking. will this huge jump, what line do with the $1.3 billion it has raised? intoey reinvest that money their existing business, and which parts of that business? seek outside the company some acquisitions or something? that will be the focus, what they do with this $1.3 billion. trying to get be

some more active users, only 218 million so far. thank you so much for that live in tokyo. coming up next, french president will speake hollande on the attack in these, france. ♪

♪ angie: the top stories trending , the mayor of niece says 77 people were killed when a truck drove into a steel day crowds. -- bastille day crowds. local police shot and killed the driver after issued out. the truck was loaded with weapons. presidentresident -- hollande has returned to paris for a meeting with his and syria ministry.

line surged in its first wall street outing, the biggest tech ipo of the year. rose 27%, valuing the company at $8.6 billion. in australia's largest dealmaker have jumped after a forecast of stronger-than-expected earnings. blue scope says that interest before taxes will rise. steel prices have rallied this year, up 40% in china. australia is on a tear. we are monitoring the market open in shanghai and hong kong. that is right. australia holding at 2016 highs, , a4/10 of 1% on the asx 200 risk on rally continues across

asia. the regional index on track for its best weekly gain in three months. hong kong coming online, up 2/10 of 1%. there were technical signs share washe a- overbought. we saw it eased from three months eyes, but it is up to tenths of 1% today. southeast asia looking good as trading resumes in singapore following the glitch yesterday. as well, up 4/10 of 1%. -- rallyi 225 rattling in, the longest rally -- rallying, the longest rally we have seen since november last year. some other stocks we are watching in the region today, awaiting that line ipo in tokyo. 27%, fastrk trade up

retailing soaring after numbers came in better than expected. blue scope coming through with expected second half earnings, sending the share price higher as well. looking at the currency markets, it does look like the u.s. singapore dollar is oversold at the moment. we are seeing some weakness there. weakness coming through in those commodity-based currencies as we await the china trade data. the aussie dollar down 2/10 of 1%. probably no surprise to that china data. angie: thank you. on thepdate you situation in nice and the south of france, where a truck has driven into a crowd, killing 77 people according to the paris prosecutor's office, which is now calling it a terror attack. what is the latest that we know right now? we are waiting on the

french president to speak. the paris prosecutors offices calling it a terror attack. they say the anti-terror unit will be looking into the attack. 77 dead after the attack, and president hollande will be holding a defense counsel meeting at 9:00 a.m. france has been on top alert for the last 18 months. this is the seventh attack during that time. you can see pictures of emergency services arriving at the scene. this is on or near the promenade des anglais, a main strip running along the beach in nice. the truck drove into a crowd of people celebrating the bastille day holiday, and several hundred were injured. at least 77 people died. here comes the truck now. angie: is this the truck? >> this is the truck the plowed

into the crowd. around 10:30 p.m., there was a areworks display, so possibly bit of confusion about what was going on at the time. was what theyer call neutralized, shot and killed by police. tell television that the truck was filled with bombs. thereterior ministry said was no hostage-taking, and it seemed like there was one individual driving the truck. police were asking people to go home, urging them to stay away from the streets. taxis were volunteering free rides to take people out of the area. were flocking into intersections, stopping people from getting close to the area. that is what has been happening so far. angie: that truck reportedly plowed through people for a few

kilometers, traveling at speeds up to 50 kilometers per hour, pretty quick, scores of people killed. will bet hollande addressing the public very soon. what does he have to say is the question of course to soothe the fears and mood and paris and across the nation tonight? he has arrived in paris and is likely meeting with his ministers on how they will approach this. been on tophas alert for many months, 18 months, and the last date attack .as in paris in november the state of emergency was set to lapse in july. angie: he was going to let it lapse. rosalind: so we do not know if he will let it lapse following this latest attack. angie: this is now under investigation by terror

officials, anti-terror officials and police. they continued to figure out exactly who is responsible. thank you so much for that. heads of state meet in mongolia's capital. tom mackenzie is there for us. what is the reaction from world leaders? terrorism once again back at the top of the international agenda. in mongolia, there are more than 50 leaders from asia and europe giving comments. we have heard from the belgian foreign minister and also the president of the european council, donald tusk. take a listen to what they have been saying in light of these events in france. sad day for france,

for europe, and for all of us here. this is tragic, the subject of the attack, people celebrating liberty, equality, and fraternity. we all stand united with the families of the victims, the french people, and the government in the fight against violence and hatred. we need to try to combine our efforts. that is the most important issue. we have an action plan at the butl of the united nations, it is impossible to avoid all the terrorist attacks. fory first of all i think all the victims. the foreign minister of

belgian saying he wants to see more coordination when it comes to terrorism, more intelligence sharing, and he will be talking about radicalism here. that has become much more prominent. victim of airport attacks in brussels, and france as well in november. to be a topic of conversation here, but intelligence sharing, more information, more coordination is what they need. this is apparently not a sophisticated attack. people are saying we need intelligence on the ground to prevent this, particular you when it comes to foreign fighters returning to europe from fighting in places like syria. angie: tom mackenzie live in mongolia. breaking news, line has opened. to getelayed, but hard that match between bid and

cells, but finally opened in , that aboveat ¥4900 its ipo pricing of ¥3300. that makes it 48% above the ipo debut of line the in new york to shame. it rose only 26.5%. if it is sustainable. right now, line opening, ¥4900 per share. let's check in on some other headlines for you this morning. the eu has widened its antitrust claims against google, saying it has evidence the search giant favored its own comparison itsping service, presenting own ads and restricting how rival ads were displayed. the european commission laid out its case last year, but separate to its action over the alleged

market dominance of its android operating system. tsmc has raised its sales forecast. predicting third-quarter revenue of up to $8 billion, exceeding analysts expectations. they provide chips for more than half of the world's smartphones. fast retailing shares jumped by the most in 13 years after the owner of the brand posted third-quarter profit and sales that beat estimates. that is quite a big downgrade in its full-year forecast. here is our asian conglomerates reporter. ,alk us through the numbers 16.6% higher right now. it is a big jump.

they announced their earnings yesterday. theyhappened until now is , a a bad winter season warmer winter last year, and sales were sluggish. they returned back to low prices, and that has been working so far and has given the results you are seeing right now. you also mentioned they downgraded their full-year forecast for net income down 25%, hit a strong yen. over all, the business itself looks like it is coming back. is the turnaround strategy working here? is that an affirmation that it

is? shareh, it looks like the reaction proves that it is faster than analysts have expected. the third quarters earnings results were pretty strong, up 19% from the previous year and beat estimates on the bloomberg terminal as well. at the same time, customers in , its largest market, they have yet to return. customer numbers to the existing stores are falling short during the past six months, except for -- some so it is still key items are selling very well, like skirts and pants.

their number of customers are yet to come back. angie: ok. product is one thing. what about the strong yen of affecting corporate japan there? announcing they are ahead of many other companies, y's there will be more compani s earnings coming out. we could see other exporters or other companies who are heavily relying on overseas sales would have a similar impact of those companies. angie: thank you so much for that, live out of tokyo. coming up, we will talk about the world's biggest tech ipo, line's shares in tokyo of 50%.

we will ask what this means for messaging mobile apps around the globe. this is bloomberg. ♪

just startedas trading in tokyo at over 50 percent above its ipo price, ¥4900 per share, definitely above the top range when it priced its ipo at ¥3300 per share. let's take a look at this and all the prospects. what can we take from this p.?itement over line cor >> it has been a long time since

line was rumored to be an ipo candidate. there has been tremendous buildup in terms of this ipo in the last couple of months. some of that excitement now unloads win this ipo happen. want to stop you right there and put a pause on this. this is president hollande speaking in paris right now. let's take a listen. speaking in french]

>> he is saying that we will do everything possible to stop these terror attacks. the globalejudicing audience after 77 people were killed in a one-man attack using a truck, plowing through hundreds of people. hundreds more injured. [speaking in french] at 347 p.m. in paris, he will hold a meeting with his interior ministry to discuss this investigation. to, more thanose half a dozen attacks and just the past year when it comes to terror threats in europe and in france. paris, killingin

more than 130 people. addressingollande french citizens and also the global community, saying that they would do everything to stop terrorism. we will have more from this public address as we get more details coming out of paris, france hollande from president hollande.esident we will have more on "trending business." this is bloomberg. ♪

angie: it is the middle of the night in parents, but president is addressing the nation after the terror attack killed 77 people.

he is saying the protection maintain, be saying that the emergency powers will be maintained. he is saying the event is clearly a terror attack. he is speaking live on french television right now, saying everything and everyone and all means are being deployed for the wounded and the injured, and says they will do everything possible. 10,000 forces deployed, state of emergency now extended for another three months. hollande also saying that all of france's threatened by islamist terrorism, and saying reduction levels must be reinforced. emergency state of

extended past that lapse date for three months. line, andback to before president hollande spoke talking about the recent ipo. with line, there is some speculation that it might have peaked. bump,per share, a 50% investors are so excited, making it the biggest global ipo this ifr, but is it all for not it cannot build its user base? you are talking about a very critical point. for every kind of tech company, suchl networking company

as line, the critical factor is how many users we have can use scale your business. line has done a tremendous job of building up and scaling their user base in japan and other asian countries, but if you look at the laces -- latest numbers, the growth and user base has slowed down. it almost came to a stop, whereally in the markets line is strong, japan, taiwan, thailand, and indonesia. core markets, the monthly active users of line are actually decreasing in number. angie: in fact they said that during the roadshow. they said that during the roadshow, that the numbers were dropping. think this is a corporationor line

as a whole. itis my personal belief that will remain an asian-only phenomenon and contained in asia. currentk, but line's 41 dollars $.53 the closing price -- $41 53 since the closing price, this means that the valuation is a $.6 billion. what does that mean for whatsapp , tencent, and weibo? >> for these companies that you have scaled to a much higher degree than line did. line corporation did a fantastic job for eight japanese company. base thatd to a user no other japanese company has been able to do before. if you just look at the numbers, whatsapp and facebook messenger in the west, we chat from

havent in china, they other user bases, other markets they are looking at. dominatingt line is in the markets where they are strong and where they have built up a considerable user base, but not really a threat for the other messenger apps. my point was the valuation for those two companies certainly popped after line. a very quick last question, $800 million worth of stickers sold, will they continue? how do you monetize this stuff? yes, if you also look at the line has beenthat disclosing in the last couple of months, that business is also beginning to saturate. i am a hard-core buyer of these

stickers. i love them. not a growtho business anymore. angie: you get a sticker for me. thank you. a lot more coming up. this is bloomberg. ♪

>> this is "trending business." we are going to be live in singapore, sydney, and paris, but this is what we are watching for you this morning. 77 killed and hundreds more injured by a truck driven into a crowd of bastille day revelers. the french prime minister said it is clearly a terror attack. asian stocks rising.

ts bestheaded for i weekly gain since 2009. optimism that further fiscal stimulus is coming. mine is going up. the messaging apps soaring 50% in its tokyo debut. it is a vote of confidence for text biggest ipo of the -- tech's biggest ipo of the year. you can let us know what you think by following us on twitter. don't forget to include #trendingbusiness. gdp crossing the bloomberg. reporter: gdp coming up at 6.7% in the second quarter. year-over-year, the consensus thisate of 6.6% stop what -- 6.6. what the 6.7% mean? it is the estimate of the previous quarter. quarter over