counting down to the trump era, the president-elect repeats his pledge to make america great again. stocks dropping on the eve of the inauguration with the dial seeing a first five-day slump since the election. asian markets also signaling some caution. some jitters ahead of china's latest growth numbers too. the expectation is for another solid performance. and alibaba becomes an olympic sponsor, signing what is said to be the biggest deal in the

games' history. this is the second hour of "daybreak: asia" live from bloomberg. i'm yvonne man in hong kong. a lot of big things happening in the next few hours. 7:00 p.m. here in new york. i'm betty liu. the world watching very closely the inauguration and the proceedings that will be happening in washington, d.c. starting tomorrow morning. as we mentioned at the open, it looked like asian markets are a little bit spooked by >> we saw. yvonne: they are treading water right now, which is no surprise, leading up to donald trump being in.n also looking ahead to fourth-quarter gdp out of china. it looks solid from the headline figure, but you have to lift the hood to see some of the in. murkiness when it comes to the outlook for 2017 and further. in the meantime, let's look at how the market open is shaping

up in tokyo and seoul. here's david ingles. everything that is coming out from china, we will be talking about that later on. it is essentially backward looking. any case, i'll leave it at that. have a look at what we're seeing across tokyo. dollar-yen is 1.15. we are seeing just a little bit below water there. 14 points down for the nikkei. not a lot. happening really across markets. safe to assume that is the way it is going to be for the next few hours unless we get a big move in the japanese yen. as far as how things stand compared to last friday, stocks are a little lower. bold and yen are basically at

the same level. bonds are slightly lower as well. we started at the week at about 2.4%. if you want anything that is moving, at the moment, i would look at the bond markets. abovessie 10-year is back 2.8% or roughly at that level. let's flip the boards, have a look at how the rest of asia is trading at the moment. we look up to a slightly tepid session in the u.s. and europe. australia down 0.6%. that is a broad-based tech line. most stocks are falling in that market. new zealand is still holding above 7000. the kospi index, 0.3%. get the board up, please. just to have a look at how that is trading as well as toshiba, there we go.

toshiba, 6%. and takata, that looks like it is going to go through the floor again. bids 20tnumbering the to one. yvonne: david ingles with how the markets are trading in asia. let's get the first word news with haidi lun. donald trump has promised to unify america when he moves into the white house. in washington, the president-elect said the u.s. had voted for real change and vowed to carry out his campaign pledges. he told supporters he would secure america's borders and build up the military. he also promised to be a president for all the people. >> it is a movement that started and it is a movement like we've never seen anywhere in the world, they say.

there's never been a movement like this. and it is something very, very special, and we going to unify our country, and our phrase, you all know it, half of you are wearing the hat, make america great again. itselfchina is defending as the champion of free trade after more criticism from the incoming administration. the president-elect campaigned against what he called beijing's unfair trade tactics, threatening to impose tariffs. wilbur ross has said he will look at the antidumping cases. the u.k. prime minister has offered her strongest support yet for the city of london as brexit moves closer. theresa may said banks are of huge value to the british economy, with some signaling they may move staff abroad. may has confirmed a full

departure from the single market, sparking concerns in an industry that pays the equivalent of about $80 billion in annual taxes. i want to ensure that we can keep financial services in the city of london, and a global britain, i believe, will do just that. haidi: china's biggest offshore oil and gas producer plans to raise capital spending for the first time since 2014. it says it will increase expenditure by as much as $10 billion this year after spending cuts in the past two. the majority of overseas spending will go to deep water in the gulf of mexico. in august, cnooc posted its first ever half-year loss. global news 24 hours a day powered by 2600 journalists and analysts in 120 countries. betty: thank you -- yvonne: thank you. china is expecting another period of solid growth.

where also expecting readings on industrial production, retail sales, and fixed asset investment. tom mackenzie joining us now. straight.7% for four quarters. it makes you wonder how accurate these numbers are. what else should we be watching? tom: absolutely is going to raise a few eyebrow. particularly after we heard a province had been fudging its data for a number of years. it is the quality of the growth as david was pointing to that is so key. industries indicated a rebalancing hasn't happened at the pace many would have hoped. industrial production is expected to go up, six point 1% versus 6.2% in november. probably boosted by big infrastructure spending

happening in china at the moment. in terms of the retail sales, that is expected to come up 10.7%, versus 10.8% in november. chinese consumers expected to remain optimistic despite the fact that weight rises are rising at a slower rate and these curves may take some cash out of their pockets. in terms of fixed asset investment, that is always worth breaking it down to see what level the private sector is playing. in the last few months, it has been state owned enterprises taking up the slack. it is a key indicator of the confidence of private firms. that is expected to increase in line with the november number. the imf is predicting a growth number of 6.5%. we were just talking about, are these numbers believable? there's a great debate about that. this growth, that has come at a cost as well. tom: it has. in the last few months, we've

been hearing from policymakers that it seems to be that those pushing for more focused on financial risks are starting to win the debate. we've heard that is going to be a priority. we got some flavor of that from davos. we heard from the vice-chairman of the china securities regulatory commission. this into what he has to say. >> risks have accumulated in the system. this year, we have decided that monetary policy should be more moderate and neutral. some of these risks could be exposed. i think that is the biggest risk. .2, theks economists slowdown in the real estate sector. also, the trump effect and what we are hearing from his nominees for his cabinet. those data points out at 10:00 a.m. beijing time.

betty: thank you so much. no surprises from the ecb as mario draghi held policy study again. he reaffirmed his intention to continue asset purchases until the end of this year. here with more. what exactly is draghi saying here? >> the ecb didn't change its quantitative easing program. $2.8 trillion, they are sticking with where they are. as our colleague, jeff black, said in his story today, it is as though they met and the ecb finished their meeting and draghi came out and said, come back later. the economy is doing ok. there's signs of life. inflation has picked up a bit. there is this uncertainty over donald trump. there's brexit uncertainty. said to all, draghi those who want him to rush

faster, be patient. he must be referring to the germans. germans have complained that inflation is starting to rise. there have been calls for the ecb to move. when it comes to inflation, draghi had this to say. expected, headline inflation has increased lately. largely owing to base affect in energy prices, but underlying inflation pressures remain subdued. let's go to the terminal now. i love this chart. it just makes it so clear. look at the white line. german inflation has picked up a good bit. 1.7% year-over-year, closer to the 2% target. energy prices, those come and go. euro area, the main measure of inflation has gotten up to 1.1%, much further from the 2% target.

there's also these elections coming up in europe. keep the bond purchases going and help provide the stability the rest of europe needs. betty: that is true. speaking of, come back later, we are moving to the fenow. janet yellen expected to speak later on today. >> twice in two days. she's speaking today at the stanford institute on the economy in palo alto, just miles away from the commonwealth club in san francisco. that speech at 8:00 eastern, around 9:00 in hong kong. interesting that she said, more 2017,ikes, a few until conserve prices in the u.s. a bit on the strong side, and yellen kind of downplayed the risk of labor market-driven inflation. today, some numbers came out. jobless claims down to 234,000

last week, just shy of the 1970's low. housing starts up 11%. apartment building construction surging. that jump into a chart shows maybe a little inflation activity. you are looking at prices paid along the top, prices received along the bottom. prices received hit their highest since 2008. they jumped 19 points. cost increases are sticking. expected conditions in six months, that is at 829-month high. interesting to see if janet yellen's remarks have a reflection on what we are talking about. oecde: still ahead, the has warned that global property prices have climbed to dangerous levels. we will ask mitch if he agrees. betty: up next, is the trump trade dead or alive as we get

set for the inauguration? we have christian from deutsche bank. this is bloomberg. ♪

betty: this is "daybreak: asia." i'm betty liu in new york. yvonne: and i'm yvonne man in hong kong. bhp billiton down 0.8% in sydney after the announcement of a proposal to settle claims in 2015's fatal them collapse in brazil. the deal sets out a timeline for settling $48 billion in claims against bhp. a final deal is expected by the end of june and still needs court approval. 19 people died in brazil's worst environmental disaster. betty: american express says fourth-quarter profit fell more than 8% as expenses ballooned and more money was set aside to cover bad loans. or income was $825 million

$.88 a share. the ceo warned results would be uneven after the loss of costco. it has embarked on a revamp and a cost-cutting project to fill that void. yvonne: viacom's paramount pictures has received a chinese lifeline worth as much as $1 billion. the studio reached a financing deal with shanghai film group to pay for its movie production over the next three years. the deal solved the long-term money problem for paramount, which has struggled in recent years, posting a loss of $445 million in 2016. betty: breaking news now. las vegas sands today $7 million chargesties to resolve to pay penalties over probes in deals in china and macau. again, a $7 million penalty over

u.s. cases or probes on their deals in china and macau. we will watch how the stock trades and reacts to that news and continues to react to that news when trading begins in new york. yvonne, let's talk about the trade in asia. yvonne: as you mentioned, sands china trades when hong kong opens later as well. this inauguration, investors concerned about a possible trade war. our next guest things that is an unlikely scenario. christian nolting is global cio at deutsche bank wealth management. right to see you here. as we lead up to this inauguration eve, what do you think asia should be more focused on when it comes to donald trump? we call it rhetoric to reality.

there has been rhetoric from the trump team. we need to see what is turned into reality. i think there will be some fiscal policy. there will be some tax cuts maybe later in the year. able to implement? yvonne: some say the trump effect is going to be a 2018 story. andrder for these tax cuts infrastructure spending to go through, it could take a year or so. is the market focused too much on that and less so in terms of risk on trade wars and border taxes? christian: regarding implementation, we should be right. the effect we can only see at the end of 2017 and into 2018. there's a bit higher growth already in 2017. the market is discounting this. yvonne: the market reaction we have seen, tremendous moves when it comes to bond yields as well as stocks, when it comes to u.s.

stocks in particular, the u.s. stock exchange composite, its correlation with the rest of the world, excluding the u.s., it ,hows there's a decoupling here and this is the lowest correlation we have seen between the two in 10 years or so. it is quite crucial where the money is going. how do you position yourself? christian: after trump, the market made a move. that is why you see that quite low correlation. i think the market will get used to it. there will be more volatility, probably. there's a lot of elections in europe. we think this very low correlation is not there forever. i think in the fixed income space, we don't expect yields to go through the roof. however, there's a lot of talk about inflation. no matter what trump is doing, inflation is going up. the core inflation is something we need to watch.

think for i don't inflation will move higher. we think you can make some gains. yvonne: you mentioned about the big scene. the big scene in davos was globalization. you see this pop-up of protectionism in developed markets. it could be an opportunity for emerging markets. how does that play out here in asia? do you see that as an opportunity to invest in this part of the world? christian: that is true. however we think developed markets would profit first. we don't think there's a global trade war. the u.s. has a trade deficit to china. if you look a little bit eager, at the value added, china has to import goods before exporting to the u.s., then you get only 16%. if there's a full-fledged trade war, the u.s. would hurt themselves.

countries thatme move out of some space, some countries could moven and take that space. that could be something for emerging markets. it is not a general call for emerging markets. however there will be some areas, some spaces where emerging markets could win from this. one of your themes here, 2017 and borrowing from trump, you say one of the themes is making the dollar great again. i want to pull up a chart here. we've heard donald trump's talk about a strong dollar and steven mnuchin saying the dollar is very strong. average,, the 50-year it really is right around the average. it isn't really that much stronger -- in fact there are periods of time where it was far stronger when interest rates

were at a much higher level. there seems to be more room for the dollar to run on a historical basis. how disruptive could that be or not at all? christian: we agree, there is more room for the dollar to run. if there's fiscal policy in the u.s., and you compare this to europe, what you get is -- virgins. there's fiscal policy -- double divergence. there's fiscal policy in the u.s. monetary policy is also different. the fed will hike rates. we don't expect any real change in europe. then you see that double divergence. we think euro-dollar could go to parity this year. dollar is not cheap, but there's some room to go. find ito you interesting that trump is talking about a strong dollar when we've had interest rates

and fed policy at such dovish levels? it doesn't seem to make sense. the dollar has been helped for so long by ultra low monetary policy. forgetan: we shouldn't the very strong dollar is not helpful for the u.s. the very strong dollar is not so helpful. politicians certainly don't want to see that very strong dollar. if you look at the policy they want to implement, what the fed is doing, that speaks for a strong dollar. what will be important is, is there a massive move to a strong dollar? we don't think so, but there is om to mo up from here. yvonne: thank you, christian nolting. much more ahead on "daybreak: asia." this is bloomberg. ♪

yvonne: this is "daybreak: asia ." the ceo of one of china's

leading property developers says she sees a continuing battle this year between rising housing prices and regulatory attempts to rein them in. she also says some lenders are beginning to worry about the possible impact of china's control on capital flows, but she remains upbeat. >> china had another good year of real estate 2016. almost always, you see real estate price goes up, then the government would come out with a very strict control on the price. no surprise, towards the end of last year, the government came out with very strict controls. this year, we will continue to see this battling between the markets, that the price wants to go up and the government trying to control it. betty: we have a guest coming up, mitch roschelle from pwc, who is looking at the global real estate markets. some of the chinese markets are

still high. yvonne: he says shenzhen is one to watch. we will see if these governments can put a cap on those prices. up next, automakers criticized by donald trump. this is bloomberg. ♪

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only xfinity gives you more to stream to any screen. download the xfinity tv app today. yvonne: happy friday. gloomy picture outside in singapore. it: 30 on this inauguration eve as we wait. i'm yvonne man in hong kong. betty: i'm betty liu in new york. you are watching "daybreak: asia ." let's get to the first word news with haidi lun. e ecb left policy unchanged. it will run asset purchases until at least the end of 2017 while trimming the monthly pace as of april.

the decision is seen as allowing a steady hand through sharks expected from elections in france, germany, and the netherlands, and the trump presidency in the u.s. goldman sachs ceo lloyd blankfein says he won't find fault in donald trump if you renegotiate trade agreements to favor u.s. interests. policies onoved the taxes, regulation, and infrastructure. trump has picked former and current goldman executives to serve in his administration. thatu look at the policies trump has committed himself to, they are quite stimulative and market-supportive. spending on infrastructure, lower tax rate, removing some of the regulations. those are all quite stimulative. again, stimulative against the status quo, but far more

stimulative than what people were expecting to happen had the democrats won the election. haidi: jpmorgan has increased its ceo's compensation by 3.7% to $28 million. jamie dimon received a combination of salary and cash bonus. jpmorgan has become the most valuable u.s. bank by market cap. into a fatalion accident involving teslas autopilot system has found no defect in the equipment. the driver died when his car hit a truck crossing a florida highway. regulators say there's no safety defect and no need for further inquiry. global news 24 hours a day powered by 2600 journalists and analysts in 120 countries. yvonne: thank you.

before donald trump gets sworn in, we have a lot going on. janet yellen speaking in the next hour. china fourth-quarter gdp coming up later on as well. let's look at the asian markets. david ingles joins us from singapore. markets a little bit on edge. david: right. apart from this, nothing is happening. i think that is the most simple and diplomatic way of really describing what is not happening across markets right now. there's a reason why investors are cautious. we've seen most markets either a race their gains for 2016 or trade in very tight ranges this week. bump. a opened lower. it erased those losses. that is the level for the topix index.

most stocks are still down in tokyo at the moment. softbank is up as well. some of these heavier weighted stocks perhaps lifting the overall tide. let's have a look at some of the movers we are following in japan. a lot of news out there. we are waiting for takata to get underway. i'm looking at my screens here. it seems this will take a while to really -- the offers seem to be outnumbering the bids 30 to one now. openingsing we could be about 17%, 18% lower. sony, some news out. it is said to be considering the sale of its film and tv unit. i was talking about this earlier. i'm not going to embarrass myself again. i think my producers are going to help me out so our viewers can see what the story is all about. we are also watching shares of kieran, the company coming out

and clarifying some media reports that it was considering selling its operations in brazil. it is in talks with heineken. shares of 2% there. very quickly, have a look at the currency markets. nothing is really happening. just to give you a sense of where we are, there we go. perhaps as uneventful as it gets. betty: indeed. thank you so much, david ingles with how the markets are shaping up. how are we shaping up with the moderation? we're counting down to donald trump's inauguration. time, 10ay washington weeks after trump stunned the world by winning the election. su keenan has more on the festivities, the friction, and what is going to happen.

su: we saw thursday night, trump stood and addressed some of his supporters saying, they were writing us off, and there wasn't an empty seat, so sort of a little self-congratulatory, also congratulating his supporters. takes the oath of office at noon. will he give more detail? that will be of interest in the speech. in addition to the big parade and the multiple balls that are traditional for the new president, there will be a large number of protests taking place. huge women groups, different nationalities coming in and planning to protest. some of the protesters have already begun. we heard from george soros some very harsh words. he called trump a con man, an imposter, they would be dictator. here's what he said about some of trump's ideas. term, markets see a

dismantling regulations, and reducing taxes, and that has been their dream. so their dream has come true. he's talking about the disruption in the european markets. he also said trump is going to bring some disruption. he thinks his ideas are contradictory and his advisers will fight. he's not forecasting good times ahead. yvonne: as far as today's we did get confirmation hearings. steven mnuchin had a tough day there. su: this was a contested hearing by many counts. one of the tough points is whether he would call china a manipulator of currency. president-elect trump has backed

off and softened his remarks since being elected. add theg said he would label if warranted. let's take a listen. >> i 100% support the president's view that we need to look at china overall from a trade standpoint and an economic standpoint and a security standpoint and i look forward to working with him on that. observers said this was a statement that softened the tone of relations with china and reduced some of the friction. mnuchin did have to defend his ties to management businesses, that controversial bank during the mortgage crisis, and one omitted some of the assets he has. he defended that in a hearing, saying if people thinks he took advantage, they are mistaken.

he is in for more grilling. yvonne: all right, su keenan, thank you. automakers including toyota have been criticized by donald trump for building cars outside the u.s. new figures show toyota relied on mexico for less than 7% of its record north american output last year. we asked the chairman whether he was concerned about being singled out other president-elect. >> we haven't shared any concerns about a trump presidency among other carmakers. we've already announced at the detroit auto show recently that we will invest $10 billion in the next five years. >> can you give me a sense of the more specific plans underway to increase production and what kind of timetable? we have full confidence in our market in the u.s. if it means more growth for us,

we are willing to spend more in the u.s. >> are you confident about the u.s. economy? through tax reform and infrastructure spending, will people buy more of your cars in the united states? >> what the new president is aiming for is to create more jobs and raise gdp in the u.s. if that works well, i believe the spending will increase and we can see more growth in the u.s. we had expected what would happen when the brexit was voted in favor last year. we think our factor in the u.k. is a u.k. company. of the u.k. companies would try to survive in a given situation. we will do the same. we don't move each time the government policy changes. we also need to see how government support industries and companies going forward. >> even if there are some kind becomee tariffs or you much less competitive?

>> we can anticipate many things, but they are just hypotheses. we need to raise our competitiveness in the u.k. with support from the government. >> when you look at the u.k., is the pound falling a benefit for the moment, or does it mean that it hurts the revenues you bring back home? pound doesn't necessarily benefit for us. we import car parts from the e.u. and japan. we try to operate in a way we get less impacted from the currency fluctuation. betty: that was the toyota chairman speaking to bloomberg's francine lacqua at davos. up next, cooling china's property market. our government curves proving effective? we're going to discuss that and more. this is bloomberg. ♪

betty: this is "daybreak: asia."

i'm betty liu in new york. yvonne: and i'm yvonne man in hong kong. western union fell more than 3% after agreeing to pay $586 million for lapses in money laundering control. authorities say they allowed hundreds of millions in prohibited transactions to be processed. it is the biggest ever penalty against a money services company. betty: japan's long-awaited regional airliner is facing more holdups. mitsubishi heavy says it is debating whether to push back the arrival of the first deliveries, possibly delayed another two years. budget is already late after a series of hitches in development. there were problems in the air-conditioning system. mrj ultimately made it to the west coast. yvonne: some of india's biggest lenders are said to be seeking r.b.i. support to restructure

loans worth about $14 billion. othersank and icici and are said to be asking the r.b.i. for a rethink on how it calculates the companies' ability to repay. they have found it difficult to pay back loans. hours awayre just from the inauguration of donald trump. he will enter the data.ency buoyed by some a jump in apartment construction helped cap a seventh straight year of increase. we will discuss this with mitch roschelle. estate,e get to real let's talk about donald trump. i know you've got thousands of clients around the world. what are they asking you about the president-elect? mitch: we just completed our annual ceo survey. if you ask ceo's what keeps them

up at night, 80% said overregulation. riskmparison, geopolitical scored lower than that. you would think perhaps the opposite. deregulation is a big agenda item of the president-elect. that is what ceo's and businesses are focused on. callinghen they are pwc, are they optimistic? mitch: they are generally optimistic, but there is two sides of the coin. anybody that has been around long enough knows what happens when you over-deregulate, then you are in a situation where things can get out of control. the financial crisis is in the view mirror. in the banking sector, you don't hear a drumbeat for repeal and replace dodd-frank. what you hear is, how can we make it easier to do business?

stronger as at result of dodd-frank. the smaller institutions today said it is the smaller institutions that we need to fuel the u.s. economy. i think everybody feels that is likely going to happen. betty: they felt like they'd in dodd-franknd and these regulations. talk about the global market, the global real estate market. pwc came out with their 2017 survey. what is interesting is how many cities in asia made it as some of the top markets. mitch: it is where those cities are. you have bangalore, mumbai, manila, ho chi minh city, shenzhen. you look back, you saw beijing, other cities. china is becoming a little less popular for global real estate investors.

what is interesting about cities in india is you would think there's concerned about growth and that is why investors are looking where maybe the hurt isn't going. cvhina is concerns in the overbuilding. betty: how does the capital restrictions we are seeing now, how is that playing into the outlook for the chinese market? mitch: i think a lot of that --ls with institutional individual investors rather than institutional investors. what is interesting about the individual investor or the homebuyers, the growing middle class in china, and the fact that the american dream is becoming a real reality for a growing middle class in china, they want to own their home. you have a lot of supply that hit the market as a result of the expectation of growth in the middle class. betty: how about the u.s.? i was just in chicago and i

that cities like new york, san francisco, chicago, they are kind of missing. you've got austin, dallas, portland, seattle. the tech sector is driving a good chunk of that. you look at the top 10 markets for investment in the united aates, it is cities that have lower cost of doing business and a lower cost of living that are attracting talent and companies. we have what i refer to as a virtuous cycle. workforce is there, companies find laborers. on austin, the u.s. millennial population is 30%. in austin, it is 35%. the growth rate is just under 3% in the united states for the next five years. in austin, it is 18%. there is a real thing happening there. yvonne: you mentioned about china.

2016 was a pretty good year when it comes to property. value of new homes up 40%. are those days over now that we have these government curves? mitch: there's a little bit of a slowdown. some of that deals with money leaving china. there's a desire to accumulate wealth in potential u.s. dollars in other currencies. but there's a big overbuilding factor in many of the large cities in china that is of concern to the investors that are looking at the chinese market. that is what happens when you have a run-up in demand. balances inks and system preventing that in the united states. those don't exist as robustly in china. betty: in your outlook, you said that shenzhen remains a top city for 2017. how does shenzhen fair?

mitch: it is a city that has risen in the rankings, and the view is it hasn't gotten the --st in supply and demand there are great fundamentals with wealth accumulation in china like never before. without as much concern of overbuilding, that is why it is still remaining at least in our top five. yvonne: great to have you here. mitch roschelle at pricewaterhousecoopers. alongside global brands like coke and samsung. more on that next. this is bloomberg. ♪

yvonne: this is "daybreak: asia ." i'm event man -- yvonne man in hong kong. betty: and i'm betty liu in new york. let's get a check of the next couple hours on bloomberg markets with rish. what are you watching? rishaad: just over an hour to go, that all-important fourth quarter gdp number coming out of china. looking at a growth rate of 6.7%. stability, some would say. some would say a slowdown as well. we've got full analysis of those numbers as they break. looking also at janet yellen. she is talking at stanford university.

talking about rate hikes in the future, looking at the dual mandate, the prospects of higher inflation and how they deal with that. and growt which may well have some momentum there. last day of that world economic forum in davos. going to be hearing from theresa and after her speech there talking to her about brexit and beyond. looking at what she's been calling a global britain. that is one of the interviews from that world economic forum. we will be looking at soho china as well. forum doeseconomic wrap up there. thank you. chinese e-commerce giant alibaba joins the ranks of coca-cola and samsung as a top-tier sponsor with an agreement touted as the biggest in games' history. sophie kamaruddin has been watching the story for us.

has een a year in the making. this 12-year sponsorship is said to be worth an unprecedented $800 million, eclipsing past sponsorships. this makes alibaba the official e-commerce platform and it also is one of the few chinese companies to sponsor the olympics. it is also the first chinese company to sign on as a partner for the 2022 winter games in beijing. betty: this definitely is a surprise. what is the rationale? they don't usually spend a lot on marketing. >> it is not just about marketing for alibaba when you ake a look at the long-term strategy. they want to generate revenue from outside china. the olympic's is a way to a global audience.

this could repair alibaba's reputation. last month, the u.s. trade representative alibaba back on its notorious markets list for counterfeiting. jack ma seeks to demonstrate that the company is wrapping up its efforts to fix this. here's what he said in davos. leadingve the world's technology fighting against that. we have put 2000 people focused on fighting against that. this is the largest anti-counterfeit team in the world. >> aside from improving its image, alibaba will likely get a cut from merchandise sales and possibly generate some business for its cloud computing business and add on more vendors from this exposure. a channeling into china. betty: thank you so much.

sophie kamaruddin on alibaba and the olympics. who would have guessed? that is it from us. cindy more still to come. we heard from rish, up next, several more market opens. of course, the chinese gdp numbers. yvonne: that is in focus as well as janet yellen's speech. all happening in the next hour. right now we are seeing markets a little jittery, not to mention inauguration eve for donald trump. most markets in the red right now with the exception of japan. aussie down 0.7%. rish is going to have more on that. this is bloomberg. ♪

♪ rishaad: it is 9:00 a.m. in singapore. thursday evening in new york city. i am coming from hell hong kong. -- i'm reporting from hong kong. this is "bloomberg markets: asia". ♪ a message of unity, donald trump pledging to be a president for all americans. in the next hour, we get the latest growth numbers from china, expecting another -- performance. and a review from