♪ >> the trump tour of asia reaches its final stop. the president is in the philippines. >> the white house is offering to play peacemaker in the south china sea. thetime disputes will be on agenda. >> nearing a big investment said to be worth $10 billion could be signed within hours. alibaba singles' day shopping spree generate record sales of $25 billion. >> just unbelievable.

hello from sydney where it is just past 9:00 a.m. we are one hour away from the open of asia's first major markets. >> seemed like everything was for sale during singles' day. just after 5:00 here in new york. another busy week of course. the last leg of president trump's two were in asia. one of the big movers is expected to be alibaba. just a reminder to our viewers of what happened on friday, we ended that longest winning streak in u.s. markets since 2013, an eight week long winning streak ended on friday. nasdaq and dow down, much unchanged. some of the biggest tech shares were among the biggest losers on friday. this week will bring a lot of news including economic reports come inflation.

it will be very key before the fed decision next month. haidi: absolutely. doesn't move the needle when it comes to that december move that is very highly anticipated. looking here in asia and in a subdued set up, the s&p seeing its first negative week since september. trading is underway already for the week. we saw weakness in the aussie and kiwi dollars. over in australia, this is how futures are shaping up. we are getting some concerns over what the economic outlook is going to become a particularly when it comes to impacts of the prime minister losing yet another lawmaker to a dual citizenship. leaving him officially with a minority government. futures looking pretty flat.

76.51.sie dollar all these data points coming out like retail sales, industrial production, also money supply and loans are supposed to come out i wednesday and it will give us an idea. we have some news headlines for you. >> in the annual singles' day event, it went global generating record sales on and off-line. saturday's extravaganza correction of $25.3 billion in sales, pulling in buyers into 25 caused -- countries and regions. increase ina 39% demand and helped 80 brands top $50 million in sales. softbank is said to be close to signing a multibillion-dollar deal. the plaque it is worth of $210 billion in the papers may be

signed in the next few hours. venture capital firm benchmark will cause its lawsuit or -- lawsuit against uber and agreed to drop the complaint. thanks to investment and government reforms. inf has welcomed china's decision to relax frictions on ford ownership saying it is a positive development that shows increasing confidence in the financial system. speaking to bloomberg, christine lagarde says china is listening to warnings about excessive debt and seeking action to wind back leverage. she says that shows a newfound confidence. >> effect that it is considering to remove at least partially those barriers, and to move above the threshold of 50% then gradually eliminate the thresholds, that is an indication of two things -- ope nness, and also better strength and confidence. >> south korea says little

pressure on the north seems to be having an effect with no missile launchers or provocative behavior for almost two months. fears kim jong-un would test a weapon during president trump's visit to asia turned out to be unfounded. the foreign minister said sanctions are working, but the south must remain strong. >> we need to be absolutely confident of our defense deterrent posture combined with the u.s. forces. but south korea's -- we need to constantly upgrade and update our military capabilities. we have a very important agreement with the united states that yes, south korea will continue to develop and acquire state-of-the-art military assets. >> global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg.

haidi: thank you so much for that. trade topping the agenda. a tech talks in vietnam -- our chief north asian correspondent was at the world trade center building for us. catch us up on what happened over the weekend. what kind of progress has been made when it comes to the gpb? we're going to see trade at the top of the agenda. geopolitics also would north korea and the south china sea disputes. trade come up with the transposition -- transpacific partnership ending reignited with the 11 existing members minus the united states coming up with a framework agreement over the weekend at the apec summit in hanoi. ant has kind of rekindled urgency for the china-led -- china and india-led regional comprehensive economic

partnership. it is a separate multilateral trade grouping, if you will. 16 member nations that focus mostly on lowering tariffs. whereas the transpacific partnership with more comprehensive, including environmental issues, protection for property rights and also labor rights. members,e 11 remaining including western nations like australia and canada -- they are trying to reduce it down to make it more palatable to those 11 remaining members. that is going to have a good push here and a good discussion. repeatedlyld trump on this five nation tour, this is the last stop of his asian tour. he has continually harped on the need for the u.s. to reduce its deficit to those five asian nations and has been touting free, fair and more reciprocal trade. we look forward to achieving a bilateral trade agreement with

partners who abide by the principles of fair and reciprocal trade. two very important words -- fair and reciprocal. it has not been that way for the united states, almost at all. and we are changing that and changing it rapidly. whenever you have so many world leaders gathering, the personal dynamics, always a very interesting element. now of course donald trump has met with vladimir putin on a walk and talk on the sidelines of a pack, the interest -- thing the interesting will be between donald trump and the president of the philippines. they will have a bilateral meeting later this morning. betty: overall outside of the last leg of the tour, what is

the assessment in asia overall about what trump has accomplished? certainly doesn't look like a lot from here in the u.s. well, he has again contradicted himself on a number of things. but also he said the right things to his allies like south korea and japan. he has also come out and said he is willing to mediate -- a great arbitrator in the south china sea dispute. if as yet to be seen country like china would agree to have donald trump as a mediator. ofald trump a very critical the land reclamation's that china has done in the south china sea. and also the philippines president has even come out this weekend in saying you know what, we should leave the child -- leave the south china sea. alone right now. a war would be to devastating.

offer wasld trump's hailed by the foreign secretary of the philippines by being he even flooded donald trump by saying mr. is the master of the art of the deal, so we welcome a gesture. but if i can put on my cynical periscope, i would say that is not going to happen. haidi: the art of the deal, the art of between. -- of the tweet. he has been sending interesting tweets about north korea lately. steve: that's right. back into the heated war of words between kim jong-un, state media in pyongyang criticize donald trump as being an old man, and of course donald trump retweeted without missing a beat, saying i'm offended. i paraphrase. i would never call him short and fat. momentever a dull

between these two gentlemen. unfortunately we are dealing with a very high-stakes game. haidi: absolutely never a dull moment there. steve thank you so much in manila, as trump finishes the last leg of his tour in asia. more on the trip from asia next as we hear from the former undersecretary of commerce under president obama. and -- haidi: alibaba was singles' day shopping bonanza. we will talk about what is next for this company later on. this is bloomberg. ♪

♪ i am haidi lun in sydney. betty: i am betty liu in new york. as we were just talking about,

president trump's trip to asia winds down. let's look at where the u.s. stance on trade. joining us is in advising managing partner in former secretary -- thank you for joining us on the sunday evening. this trip whatve sort of a great? -- grade? fort: on the positive sign the most part the president avoided any major gaffes. a limited number of rookie mistakes. betty: he kind of played it safe. stefan: on the other hand there was not much accomplished. becauseas not expected it was a fixation on the trade deficit and that cannot fundamentally be addressed on this trip. ae things they ended up couple pushing primarily were a limited number of commercial deals. billiondied around $250

deals with various companies. in all fairness i think that was much ado about nothing. it has been perceived with the kind of yawn i think it deserves. betty: it was as expected. stefan: some of them were frankly just letters of intent and expressions of interest. work -- werengs regular business for things they were going to do anyway. it was the face-saving way to show some progress. but on real issues like intellectual property, market access, the ability for u.s. companies to make fair investments in these markets, there was virtually no progress made. betty: it was ironic that the biggest news had nothing to do with his trip. the fact that foreign banks are going to be able to invest further into security firms in china. we'll talk about that in a moment, because that is a pretty big deal for wall street. in the meantime, there were

others who came out with perhaps much harsher words to what you just said. new york senator chuck schumer tweeted out this -- trump asia trip a flop. potus acts like a lapdog to xi and china but talks tough to our friends in southeast asia. stefan: look, what i would say is the president rightly is trying to create a relationship with his counterpart president g. -- xi. for all diplomats to be effective the need to focus on building those relationships. but they cannot just be at the highest level between presidents. they have to be at the working level. ais is a new administration, lot of seats remain unfilled in terms of the people who are expected to negotiate these deals, and that is a real disadvantage. i think those comments might be a little unfair but they are necessarily insufficient to make the sort of progress we're going to have to make if u.s.

companies are going to be able to compete on a level playing field with china. our bilateral deals, even if they are better deals as trump would characterize them have -- as, are they sufficient to make a from a loss from retreating from something like tpp? the president is much more comfortable dealing on these high levels one-on-one, curating relationships with world leaders, rather than being one of many. do you think not being part of a hugestill going to be loss to the u.s.? stefan: it is not only a huge economic loss, it is a huge loss in terms of our ability to have influence in the region. tpp represented roughly 25% of global gdp. ironically while he was there, tpp minus the united states essentially reached an agreement.

this is roughly 1/6 of the global economy. our ability to exert influence in the fastest growing region in the world is going to be by ourcantly hampered were withdrawal from tpp. -- from our withdrawal of tpp. xi hadwe know president global ambitions in a speech he delivered saying that china will be the global leader in the coming years. do you think that dynamic is playing out and is is something washington is concerned about in terms of stepping back from things like multilateral trade, climate change, that kind of thing? stefan: i don't know if they are concerned about it but they certainly should be. as you know, china is in the process of putting together their own multilateral trade agreement. tpp is going ahead without us. the wheels of commerce are going to continue, and to the extent

that the united states does not have a leadership role in that will be to our disadvantage. betty: what usually happens afterwards? we haven't told her on this whole trip that a real hard work happens after trump comes back to the u.s. and all the officials underneath him start to talk. what happens after a trip like this? stefan: a lot of the hard work normally should have happened before the leaders arrive and in the leaders can, with big fanfare, take credit for some big accompaniment. we did not see that. the question now is going to be what is really going to happen. will there be a fundamental renegotiation in our agreement with korea? are we going to have a trade agreement with japan, which we currently do not have despite the fact is the fifth biggest economy in the world? what are we going to do to fundamentally address these issues with china? the president has recognized this but has not identified any path forward in terms of

addressing them. betty: stay with us, we are going to have much more with the. we have a lot more to talk about with the trip to asia. we'll be right back. ♪

♪ betty: good morning. i am betty liu here in new york. haidi: and i am haidi lun in sydney. steve mnuchin is standing by president trump's claim that republicans will deliver the largest tax cuts ever. by various measures including adjusting for inflation, these cuts would fall well short. they hope to have the bill on the desk of the president next month. let's get back to our guest, stefan, managing partner of former secretary of commerce for international trade under president obama.

other than the arguments that these are the biggest, isn't the problem, part of the criticism is that these are tax cuts as opposed to tax reform? do you distinguish between them? stefan: there have been legitimate corporate tax reform. the west suffers from the highest corporate tax rate in the developed economic world and that will get cut. there had been substantial reforms as it relates to the repatriation of earnings back to the u.s. and the expensing of capital expenditures going forward. all of that has been very well received by corporate america and will be very helpful for corporate earnings. the issue is going to be, what is the impact for individual taxpayers? that is a little less clear. haidi: right. in terms of what the markets are carrying about, we are seeing expectations after we had the two proposals wildly diverge in many aspects. are they going to get it done

before christmas, and will result in the economic boom that people were hoping for? stefan: it is a very aggressive timetable that secretary mnuchin has laid out. -- thet the senate bill senate draft bill has come out, you are going to see the lawyers and lobbyists come out of the woodwork. done in netget it timeframe would be quite aggressive and i would not be surprised if it slipped into the first quarter of next. year. like all deals, time is not your friend. i think they want to get this done because of all the things that could derail it if they were to rate. -- to wait. seems the biggest issue to be the state and local tax break. what do you think should be done with this? stefan: i'm a new yorker so i have a strong point of view on that which is i do not like it. betty: you do not like the break

or you don't like the repealing the break? stefan: i don't like losing the deduction from my new york state taxes. i will pay more taxes. i will not personally did a tax cut if these plans go forward. i think that is just one of the many issues. but the big issue, of course, is lion that is going to be added to the budget deficit because of this. betty: so if it is not tackling with if it was repealed, certainly help plug that hole. how do you think it gets pay for? -- paid for? stefan: that has not been addressed at all. traditionally republican administrations would talk about reductions in government spending and we have yet to hear a proposal of how that may happen. so that is what is causing the $1.5 trillion hole. betty: stay with us, we're going to talk with you more.

a quick check of the latest business flash headlines at this hour. the u.s. justice department is said to have sold at&t to work out how to get the benefits they want to propose a merger with time warner without being used to own cnn, pbs and other turner channels. antitrust officials have suggested that at&t explore alternatives to just selling turner in forming a joint venture with the newly separated company. haidi: reliance communications senate missed payments on two bonds due at the start of the month. they are the equivalent of 400 $60 million and $115 million. the failure to pay is the latest indication of their latest debt woes. chase market share. betty: the world's biggest coal producer announced a drop in profit.

net income dropped 40% from the year earlier to $65 million, although sales rose more than 4%. the quarter includes a national wage agreement for the coal industry which they say will need an additional cost of 870 million u.s. dollars. haidi: disney's latest marvel superhero it fended off two new movies to sit atop the international box office. movie's new tally is $650 million. with sequels and remakes a newue to dominate, iteration of murder on the orient express debuted at second-place taking in $74 million. chet's decision to further open up financial markets draws praise. also, what about ballooning

debt? we'll get those and other views of next. this is bloomberg. ♪

♪ it is 9:30 a.m. in sydney. not giving up a whole lot of indication of what to expect at the moment. i am haidi lun in sydney. betty: and i have betty liu in new york. you are watching "daybreak: australia." let's get to the first word news. ramy: a first for president trump, he has offered to resolve territorial disputes in the south china sea. he is now in the philippines for a series of meetings on regional security. a key topic will be the flashpoint of shipping lanes that contain oil and gas reserves. trump says he is a very good

mediator and arbitrator. the japanese prime minister talks with a taiwanese lawmaker despite being warned by china not to do so. with thehalf an hour people's first party on the sidelines of apec summit. this constraint already tense relations between beijing and tokyo. u.k., 40 conservative members of parliament have signed a letter of no confidence in prime minister theresa may. that is a short of the number required for the leadership challenge. , andas been under pressure has replaced to front bench ministers in the past two weeks. badsmog in new delhi is so that united airlines has suspended flights to the city. conditions have been described with levels 14r

times the accepted danger level. other airlines are still flying to and from new delhi. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. i am ramy inocencio. this is bloomberg. haidi: thank you so much. a quick update on the markets as we get the week underway. new zealand, a little bit of positivity in the early session, about a quarter of 1%. the kiwi dollar and aussie dollar decline after what was a flat session for the u.s. dollar index. in australia, shaping up like this, political turmoil as the dual citizenship debacle continues. malcolm turnbull now has a minority government. is a downside for the aussie

dollar. also a bit week for china -- weak for china. money growth numbers are expected before wednesday. trading is getting ready to start here in asia. inflation is one of the hot ticket items we are all watching. does it move the needle going into the december meeting? >> it could do, but it probably won't do much good we had a on friday bond yields in the u.s.. i think what is important about the wednesday inflation number, and what is highlighted why the folks at morgan stanley, if we get a sizable miss to the cpi number, we could see a significant reprising of fed policy. specific to the december rate. morgan stanley is saying you can go from 80% locked in for the

december hike down to 50% if we get a miss on the cpi number. that is particularly important, given the market is already pricing it in as a done deal. we have seen spread compression on u.s. debt relative between the 3, 5 and 10 year in recent months as the market has priced in for that. janet yellen continuing to talk about the inflation mystery. , think the wednesday number is it could be a mover of the dial. but it needs to be a significant miss for that to be the case. betty: what about the reaction we have been talking about from investors and traders on this latest developments of china is opening its financial system to foreigners, allowing foreign control of banks and security firms? how big a deal is this? adam: i think essentially we do need to get the context of this of it being a long-term move.

in many ways, everyone in the market has been expecting it for some time. in that sense, it is not really a shock. indeed, a lot of people we have spoken to in the analyst community and investors are saying, this is significant, but it is kind of a heart of the process we have been expecting for some time. years away from actual foreign ownership from any chinese banks or asset managers or even people in the insurance business. procedural.y what continues to be more important for chinese banks of the moment is monetary policy and the ongoing tweaks around deleveraging certain parts of the economy. so while it is significant, it is a step in a long road we have had to arrive at this point where the loosening of foreign ownership of chinese financial institutions will actually be something we see. betty: a step in the right

direction, it seems. there.aigh china's plan to ease these ownership requirements is seen as good. it could display and openness. it means china could remain the global cap appeared >> -- global driver. this region, asia, is going to continue to be the big global growth engine it has been. compared with the average of 3.6, asia will be generating at least 5.5%. that tells you a lot about the role played by the region and

global economy development. >> you see evidence of inflation this part of the world? >> it is a balanced situation. you have countries that are currently at relatively low inflation levels. we believe monetary policy must continue to support recovery and have an impact on price levels. but there are countries where inflation is still at quite sensible and good levels. haslinda: having said that, do you see several banks in asia tightening in 2018? >> monetary policy will be tightened in those areas where the economy is picking up sufficiently fast and where inflation is rising. so this is going to be the case in the u.s., it is happening

very gradually, very smoothly, and we hope it continues at that pace without any abruptness, without massive capital movement as a result. the u.k. has just recently raised interest rate again. but in this part of the word -- the world, i'm not seeing it. 3 -- haslinda: we saw china opening its financial sector. if the significant or more symbolic? i was telling you earlier that financial services had to be better integrated and more exchanges.de and that is one indication. ,inancial services in china where there are quite a few barriers to direct investment.

the fact that they are considering to remove at least partially those barriers and to move above the threshold of 50% and then gradually to eliminate those thresholds, that is an indication of two things, openness and also strength and confidence in their own system. because very often, barriers and protections are established when there is not enough confidence, when the sector had not grown enough or was mature enough to take external competition. i think it is a very good development. in overearly phased time. we don't have an exact timeline of when it will start, but it is a very positive development. haslinda: the imf recently upgraded its forecast for china. why isn't the imf more critical of china when it is taking a path that could lead to financial crisis? china the raised with

issue of the very fast development of credit. china, thetners and pboc leadership in particular, that the treasury department and china, are listening. they care about making decisions and taking action in order to avoid growtht and fueled predominantly by expensive credit to the economy. hopefully they will continue doing that. in order to avoid financial crisis. was imf managing director christine lagarde speaking with bloomberg. is -- stefan is

still with us. the timing is interesting. it allows president trump to go home with something of a win in ofation to this sort operation. but this is been happening for months. is it materially interesting? chinesed want to buy a lender at this point? >> i think these discussions have been going on for years. impacterry about the that this will be. if you look the communication that came out after the president's trip to china, this was not even mentioned. you will recall the u.s. bank exited the chinese market around the time of the financial crisis. citibank, bank of america where i worked, i had a large stakes in chinese banks.

now the question is, are big banks going to come back into the market? i'm not sure they are going to come back and size quickly, and they are not going to come back and size quickly because dealmaking activity is somewhat unit -- somewhat muted. there are still structural issues that will make it difficult for highly regulated u.s. institutions to do business in this market. byzantine shareholdings, for example. betty: jamie dimon has said if to the chinesen market, he wants 100% of the company. another thing he said that was interesting is the benefits he sees in foreign partners in these banks. i wanted to play for you what he said about this in china. >> when foreign investors come in, an investor can kind of be a pain. on the other hand, they demand transparency, government, bankruptcy laws. so jpmorgan, we can play a part

to raise standards. betty: do you think that's the case in china? if more foreign banks were allowed to go into the system? stefan: that's the positive spin that if these foreign banks can raise the standards in china, or if they feel they cannot do that, that will have a dampening act on their willingness to make investments in the market. i will also add that a lot of the benefits will be because of cross-border activity. we saw just last week hearings in congress about limiting chinese firms' ability to make investments in the united states. they're having more stringent especiallytrols, with chinese firms. you're seeing less foreign investment in the united states and less foreign direct investment for countries outside of china willing to invest in the country, and the death

really -- and they desperately want that capital. betty: they do. you don't think this will open up the floodgates? stefan: not in the near term. but these are big, important and growing markets. the question will be, will this create some momentum to an opening up and further investments in and out of china? time will tell. betty: thank you so much for joining us, stefan selig. thanks for staying for most of this hour. up next, the us trillion parliamentary fiasco claims another victim. the prime minister is running a minority government. we will look at the fallout. this is bloomberg. ♪

♪ australian prime minister

malcolm turnbull is now leading a minority government with another one of his lawmakers forced to resign for holding dual citizenship. this is an ongoing debacle. they just keep coming out of the woodwork. that there was a feeling -- paul: there was a feeling that a few weeks would be the end of it, but no. one lawmaker admitted on saturday that he probably inherited british citizenship from his father, so he has resigned. the government can survive as a minority government. they are relying on some cross p's.h in peas -- m the feeling is that the majority government will be restored. they have a good chance to hold on in some elections.

the question is, when does it end? we had the senator stephen perry also quit. some others are still under a cloud. labor mp's have been brought to court as well. toty: is this ongoing fiasco weigh on the popularity of the prime minister and his government? tell,it is difficult to because they have always struggled with popularity, but the newest poll has the government slipping behind. the labour party, 55%. malcolm turnbull's popularity really took a hit. just two points ahead of his opposition. betty: ongoing indeed. paul, thank you so much. let's talk about something that is a lot more popular these days, alibaba's annual shopping

extravaganza has set new records. morees' day set records of than $25 billion, comfortably beating citi bikes forecast. citibank'sbeating forecast. we have a chart. cannot escape these numbers. imagine making $1 billion in two minutes and one second. that is exactly what alibaba did in that timeframe. in one hour, $8.6 billion. in the total summary, $25 billion, about $1.5 billion more than citibank expected. it is interesting to see the revenue bonds. if you look at this, 7027. the white line is the revenue over the past 70 -- past several years for alibaba. you see these spikes every year. wes is the real revenue bump

are seeing specifically from that one day from singles' day. in 2016, it came in at 30 billion when -- yuen. they are expecting it will be 80 billion for the coming quarter. chart, 2708. the future is bright. if you look at the rural parts of china, there is a lot out there. rural, buta is still that meets a lot of expansion can happen. they think folks will have more access to alibaba services. this weekend, they said 90% of transactions were done on a mobile phone. looking at how it compares to its peers, the white line is alibaba, up 110% relative to the eng and tencent.

we look ahead to more here, but this is crazy, record stuff happening and there is just more to grow on for next year. back to you. haidi: it's so glitzy. --ole kidman at that goal of gala. more to come. this is bloomberg. ♪

♪ a multibillion-dollar deal between softbank and uber could be signed in the coming hours. it may be worth up to $10 billion, and includes governance reform at uber. peter elstrom is here. what are the key terms of this investment? what have we learned? peter: part of the deal is about money. softbank and other investors are planning on putting in about $1 billion rush capital -- fresh capital. but about $9 billion will be new

investors buying existing stock from existing shareholders. that is expected to be about $9 billion, bringing the total to about $10 billion. there are also some other conditions associated with this. benchmark, one of the early venture capital firms in uber, is planning on dropping a lawsuit against travis kalanick, and kalanick is planning on giving up some of the control over the three board seats along with the majority to decide how they will vote. there are governance reforms and the capital investment. cash: other than the injection, what would having softbank alongside uber is an investor help the company in terms of some of the more difficult markets around the world? has been one of the most aggressive investors in

these ride hailing companies around the world. it's already invested in three other companies in china, india and southeast asia. there are opportunities for some kind of cooperation among the firms. those three companies in the past have been cooperating with , so theompetitor lyft balance has changed a little bit. they have to be careful how much corporation there is, it may raise antitrust concerns. haidi: part of the deal is buying up to $9 billion in shares from existing shareholders. cutprice a we expecting to see softbank pay -- what kind of price are we expecting to see softbank pay? set quitehas not been yet. they are finalizing the terms of the deal and expect to negotiate a final price over the next week or so. they think it will be lower than uber's current valuation. current valuation is about

$70 billion, but the $9 billion will be purchasing shares at a lower valuation than that. much: peter, thank you so for that, our asia managing editor for technology coming to us from tokyo. that is it for "daybreak: "ustralia," but "daybreak: asia is up next. he is up for buying a chinese bank right now? it comes toy when the credit cycle. we will be asking that question, will join us in the 7:00 hour to talk a little about this. is it really the big bank moment for china when it comes to opening its financial markets and how significant is the announcement? has been trying to raise its stake in joint ventures for a while now. we will ask if the latest development means they will be speeding up the process, or

given that there is a lot of uncertainty when it comes to market access and the timeline. betty: on a brighter note, it seems like the ipo market is quite hot in hong kong, particularly with tech companies. like when one company trades today, we will have a new billionaire. it is a gaming company. be aftermy boys will me for accessories for gaming. yvonne: i suppose so. he will join us for an exclusive interview. haidi: a bit of mom leverage before christmas is good. we will continue covering president trump's visit. we will be speaking with our

southeast asia senior adviser, talking about the last leg. he will be meeting with the leader of the philippines. we will see how that turns out.

♪ a.m. in hong 7:00 kong. tom yvonne mann, welcome "daybreak: asia." the trump tour of asia reaches its final stop in the philippines. maritime disputes will be on the agenda in manila. it is just after 6:00 p.m. on this sunday evening in new york. congress, hurdles in the house and senate disagree on fundamental points. and alibaba's singles' day shopping spree generated