>> welcome to daybreak australia. we are counting down to asia's major market open. >> the top stories we are covering and the next hour. china's trade surplus it's a new high amid threats of tariffs on all exports to the u.s. president trump says he is ready to go. sweden faces weeks of political gridlock after an election dominated by immigration fails to produce a clear winner.

and they prepare for the next stage. the alibaba millionaire may renounce -- announces retirement monday. >> now a quick check of the u.s. stocks. we thought it would be all about jobs but only had president trump's comments on additional tariffs on chinese products. we saw the dow fall and the s&p 500 fall for the fourth consecutive concession. -- session. seeing its worst week since june. of course i said it was all about jobs because we had solid growth in payroll as well as wages. this could signal the go-ahead for the fed this month. however things looking in asia? that-ahead for the fed, could be more pain for asian assets with em stocks and bear market territory. we still have tariff threats looming large.

the likes of apple and intel coming out to warn against additional tariffs. we will look for apple suppliers in asia to perhaps take a hit. we also have the dollar remaining on a firmer footing. that would likely not help. pressure looking to be the state -- case for stocks monday in asia. assess have been under -- assets have been under pressure. 200 wiping outx $36 billion in the worst week since february. domestic political risks are not helping the mood either. not encouraging investors with their money. we have the latest going -- showing scott morrison will be prime minister. >> thank you so much for that. let's get you the first word news with paul allen here in sydney. >> former u.k. sorin -- boris johnson has launched with new fear a new bid for power, calling premise or theresa may's

brexit strategy achingly at the asian --a humiliation. he rejected plans to keep the u.k. close to you trade rules after a separation next march. johnson wrote a proposal would have to leave britain accepting eu rules without having any say on making them. the swedish election was too close to call as voting closed in the poll gave a social democrat coalition 39.4% support. fractionally less than the alliance opposition. the populist sweden democrats pulled about 90%, making them the likely -- 19%, making them the likely kingmaker. north korea celebrated 70 years of existence with a tone it down military parade that a service -- that observers say showed a willingness to resume talks with the u.s. there was no sign of intercontinental ballistic missiles.

president trump claimed credit for the change, calling it a very positive statement from north korea. expected to step away on monday from the company he helped launch to focus on his philanthropy and education. he told bloomberg last week he is looking at a change of life, and several sources say he will make the announcement today, which happens to be his 54th birthday. he has been pulling back from alibaba for some time, having given up the ceo role in 2015. >> i think someday very soon i will go back to education. this is something i have more confidence. i think i can do much better than alibaba ceo. >>global news 24 hours a day on air and on tic toc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm paul allen. this is bloomberg. trump isent

threatening to double down on his trade action against china. stephen engle is here with the latest. great to talk you again. we have already heard about the potential $200 of tariffs. we could see more on top of that. tell us what is going on. >> it kind of makes it hard to price in the trade action or potential trade action. that is why we saw wall street fall off after donald trump said again that, yeah, the tariffs on the additional $200 billion is still in the cards but we might double that down to another $267 billion worth of goods. this is what donald trump tweeted. the days of being ripped off by other nations is over. he is inconsistent, let's give him that. he is casting his ire on china.

in july he had a bit of a truce with the eu. he said as well last week the south korea negotiations are pretty much over. he has a deal with mexico. canada might come into the fold. -- butere are no ongoing there are no ongoing negotiations with china. larry kudlow suggested donald trump is willing to meet with xi jinping in the coming weeks, perhaps as early as the un's general assembly meeting later this month. but again, no formal across the table face-to-face discussions, and negotiations are ongoing, which makes it difficult to know what will happen. basically if he goes ahead and pushes the button on tariffs on another billion and $260 billion on top of the $50 already, that pretty much covers all exports from china to the u.s. >> trade numbers from china,

whatrecord trade surplus, does it tell us about what it is doing to the chinese economy? >> there are two sides to the story. yes, china's trade surplus did widen. that is largely due to the fact that a lot of traders frontloaded their orders in august ahead of the imposition of these new tariffs on $200 billion. that's a bit of an operation. what we saw is export growth slowed to the slowest pace since i think march, up 9.8%. exporters are feeling the pain in china. we saw as well on friday but the government came out with new tax rebates for exporters of some 397 different products. steppingvernment is

into help these exporters were already working on slim margins. say,ood side you can imports picked up much faster than expected, up 20%. that at least owes you some of the stimulus and help that the government is providing is at least holding up domestic demand in china, while the export scenario is looking weak, as we exportthe pmi's for new orders. >> a lone bright spot. thank you so much for that. now to the week ahead on wall street. apple suppliers are bracing for a full-blown trade war. they are said to be negotiating a leader exit package on the ceo. and the future of tesla and its founder remain in the spotlight. su keenan has the latest. >> we have corporate news, a new round of earnings. we also have some economic data, strong retail sales expected.

let's go right to some of the stocks in the spotlight. because apple is coming out with a new iphone that usually grabs the headlines, but instead it is about the suppliers. they are likely to be in for some tariff trouble. there is also warning they could get heat. spotlightks in the had to do with major news about the company or the ceo. tesla remains in the spotlight as there are concerns not just about elon musk's ability to lead tesla, but also spacex, --er he was found what does the company look like without jack ma? and there is speculation that try and funds will targeted for

takeover. probably it is a different company, not kimberly-clark. we will see how that trades on monday. in terms of the markets, right to the nasdaq 100, the heaviest tech index. it had its worst week since mark. cr -- since march. trade policy uncertainty is the title. stock investors to not seem to care as the s&p 500 climbed, but the uncertainty continues to climb. the market has come down in the past four days. >> thank you so much for that. just before we do that i want to get more details on this cbs story. new allegations of sexual misconduct? >> yeah. there was word that since july when the first round of sexual misconduct allegations came out, exitingceo was

negotiations for a leave. today, the new yorker coming out with a new round, six more allegations. we are hearing from cbs. those close to the matter, who releasedyet publicly he will publicly announces resignation on monday, that it will be a much reduced package with strings attached. in other words, we hearing if the allegations are true and cbs is doing its own investigation, there may be a clawback on a large part if not all of the severance. you can see the stock has moved higher in recent days as the has been talk about les moonves's exit. he has denied the latest allegations. however, he is expected to make a departure on monday. >> su, thank you so much for that. still ahead, going their separate ways. we ask an award-winning author on china weather worsening trade tensions can pull the world's

two largest economies even further apart. >> next, how is stronger dollar and rising inflation could mean more pain for emerging markets. this is bloomberg. ♪

>> you're watching daybreak australia. 10 years since lehman brothers filed for chapter 11 bankruptcy protection. throughout this week bloomberg will be looking back on lives changed after that. we have thoughts coming up on the collapse and milestone we average now. -- we have reached now. really thought at the last minute the u.s. government would jump in. and i was told it was over. that was a worst-case outcome. we had not expected that.

>> right through 2008 it was clear confidence in the banking system was waxing and waning. and only a serious recapitalization of the banking system, both in the united kingdom and in the united states, would resolve the problem. >> when i realized how much debt was in the nonbank financial market, $70 trillion, that is what started to worry me. >> you realized things were much more interconnected than you thought they were. and that what seemed to be small markets could have much bigger effects than you thought. >> i remember saying to a good friend of mine, i am done, on paper, 100wn, on million could today. >> we always say this time is different and history tells us that is not the case. >> as you look at the banking system there is more capital there today. there are muslims -- lessons we

must continue. to think about what vulnerabilities are still in the economy today. just some thoughts on the collapse of lehman brothers almost 10 years ago. let's get a look at what is likely to drive the markets this week. good morning, great to have you. something of a letdown for the markets in terms of the trade scenario not becoming clearer, either way. how do we position ourselves now, given that this could worsen? >> i think markets had some hope as they got to a deadline that concession would come back and they would base negotiations in a trade outcome. but it is really escalation. i think defensively, positioning is the warned it at the moment. >> you are more cautious than a last time we spoke. >> definitely around trade, also where rates are going.

had some very strong numbers in the u.s. in terms of wages growth accelerating, unemployment down. you have the bond market start to selloff in trade uncertainty. so, you just start to see the crack surrounded nasdaq at high tech stocks coming down. that does leave us pretty cautious around the outcome for equities. >> we started off the segment saying it was 10 years since lehman, 10 years since that chaotic period. and afterwards, some lessons had to be learned. doesn't feel like we're getting to another period a potential chaos? >> i think the big lesson was what really caused it, between excessive liquidity for too long. the fed was too slow to tighten. trade and low inflation, high productivity, enabled that bubble to build in the u.s. mortgage market. we see here today with liquidity 10, 100 times larger than that. and you don't know really where

the extremes are until it is turned off. so, 10 years down the track and that lesson has not been learned. >> you mentioned inflation. one of the things that seems clear right now is that tariffs will lead to higher prices. how can you play that in the markets? >> definitely in terms of i think shorter duration and defensiveness. i think the beneficiary out of this is u.s. lower skilled were can benefitrkers from trade barriers competing against chinese companies. companies with exposure in the industrial cycle, which is quite strong in the u.s. and not overly reliant on high valuation. even commodity producers in australia, the aussie dollar is very weak in response to trade tension, and also cash rates here. that is a big hedge for resource companies.

even though commodity prices have been weaker in the face of the strong u.s. dollar and chinese growth uncertainty, aussie dollar has been strong. >> the g tv library can show you this chart shows you against the health care stocks. recently we have been seeing health care findings favor with hedge funds. s&p health care is in blue, surpassing next on sarao to august. -- bank stocks in august. will discontinue to be the trend for now? >> i think certainly health care has joined tech in the list of winners. same thing in australia and across the u.s. the markets looking for certainty in growth and continuation of winners. that will continue until it stops. i think there is a bubble forming in valuations in that part of the market. multiples paide to companies whose fundamentals are not really changing. that is being driven by

liquidity, economic uncertainty narrowing in leadership. so, that will keep going for a while but it think the tracks appear there. bubble basket in tech and health care looks vulnerable to me. productse agricultural being in the middle of these trade tensions. >> yeah, definitely. we still have a longer-term somatic around agriculture. still have emerging middle-class around china and india demanding higher quality food and more of it. so, that said, it is a volatile sector driven by whether. we have had some extremes in terms of drought in australia, the u.s., south america, even europe. but certainly within the overall resources play, is a list dependent on china's industrial growth and trade tensions. longer-term growth we are happy to position towards. picture is onen

you are seeing is one that could be impacted by the trade story, more so than longer-term growth, which i suppose potentially plays into a bad scenario. >> definitely. if you look at what has driven inflation down it is a change of behavior by corporate and workers. part of that has been globalization trade, competition in terms of competition shifting into china. companies focusing on cost out, workers had less security in jobs. as they move into environment where growth is stronger around the world, japan, europe. unemployment is moving to cyclical lows. straws could just be the that breaks the camel's back in terms of driving high prices and giving companies the confidence to go out, raise prices and pay their workers more. >> we're going to end on a note of the dollar. it is fair to say if you get the dollar right and everything else falls into place.

i want to bring up this chart looking at the correlation we have seen between emerging-market stocks and overseas currencies. pretty close to extreme levels. is there any scenario we see the greenback start to weaken? you still have the rate divergence story. >> definitely. japan seeingpan -- wages growth pickup and unemployment come down. japan backing away from their extreme. even the easy be is tapering down the end of this year. i think stronger growth in those countries will help. emerging markets are caught between china trade uncertainty as well as high rates and stronger growth in the u.s. they are really caught between a rock and a hard place at the moment. >> sean, thank you very much. much more to come. this is bloomberg. ♪ ♪

>> you're watching daybreak australia. the european union budget chief says he is not worried about a potential no brexit deal and possible end to eu -- u.k. contributions to the eu budget. he spoke to bloomberg in italy. >> are british colleagues -- our british colleagues and the said yes.lways it's ending the end of 2020. in decemberecided if they would,. t -- moment they have no reason to think about any plan

b. budgetst in our beyond march 2019 means to be a partner in research, connecting your facility. ongoingbligations are and are clear expectation is they are for filling these obligations -- are fulfilling these obligations. >> do you see more complications? ongoing.gotiations are the new chief negotiator of the u.k. is really active, constructive, and pleasant. so, our expectation is they have

a good chance to come to a smart brexit. which would be in effect before the end of november. and we have to do our best to defend our interests, but not to damage the u.k. so, to see how to come to a balance. that's our clear interest. >> that was the european union budget chief. a quick check of the business flash headlines. to topple theing entire board of campbell soup. is nominating 12 directors, including -- shares arch waiting -- someof america's biggest companies a president trump's's trade war will not boost them to

produce in the u.s. 's decision not to focus -- ford has already said it has no plans to do that. lot more is coming up on daybreak australia. this is bloomberg. ♪ s is bloomberg. ♪ xfinity mobile is a new wireless network

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>> markets open in just 90 minutes time. after marketg sentiment. aussie stocks on track. the longest losing streak in more than two years. $36 billion in last week's selloff, the worst since february. i am not even paying attention to what you are saying. it is such a gorgeous view and australia. a completely different picture here in new york. it is a gloomy, rainy, cloudy s

unday. you are watching daybreak australia. now let's get the first word news with paul allen in sydney. >> thanks. china's trade surplus with the u.s. rose to a new high, even as overall growth slowed and president trump's threatened tariffs on all exports to the u.s. economists saying the immediate impact of a trade war will be limited. governor isboc warning about the long-term effect on confidence. uses market sentiment can easily change. bronze says it is confident italy's populist government will not breach eu budget rules and the finance minister says this is no threat of french plans overstepping the mark. he said redressing public accounts in france was not negotiable. he declined to say what measures need to be taken. he also said italy would stay within eu guidelines. >> we will judge on that.

i have had a lot of discussions. i think he is fully aware of the importance of the decisions that will be taken for the next italian budget. and i am confident that all the italian political leaders are their -- are aware of responsibility. >> iraq is pumping oil at record levels, despite unrest in the south. they are producing about $4.4 million a day, as agreed under opec restrictions. protests are not causing any disruptions. demonstrators burned government buildings and the iranian consulate, demanding jobs and basic services. south korea has become the first of iran's top three oil customers to fill american demands to stop buying crude from thailand. they -- from tehran.

china and india have restricted their orders in the face of looming sanctions on iran, but korea is the first to cut off all delivers. cryptocurrencies continue to tread water, trading far below the dazzling highs they enjoyed earlier this year. bitcoin is now worth about $6,000, a long way from the near $20,000 in january. a smaller rival fell over into the low $190. the cofounder says there is little chance of a repeat of the explosive growth. pointis getting to the where there is a ceiling in sight. if you talk to the average educated person at this point they have heard of it at least once. so, that is not an opportunity for yet another growth in the space anymore. >> [no audio]

-- >> global news 24 hours a day on air and on tic toc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. >> of course we are gearing up to the major market opens in asia. let's go to sophie in hong kong with the latest. >> like the weather in new york, the gloom outside hong kong might be happening to the sessions here in asia. ingredients coming together for the risk off sentiment. a strong jobs report is continuing. the aussie dollar is acting like an emerging markets currency, itting sold like the rupee you have the aussie dollar over the past month falling over 3%. we have a picking up about 71 against the west dollar. -- the u.s. dollar. director from australia sees downside risks building for the aussie dollar,. in short predicting a drop below

17. investors should play -- pay sydney as toon to what the broader market might do after the worst week since february. >> thank you for that. taking a look at a set up. let's get more details on what we should be watching for as trading gets underway. implication of that blowout u.s. jobs report, and you also have a story of how key timing is when it comes to one particular option. seven basisall, point move in treasury market is not something we see everyday. it is obviously to do with the wage gains we saw. it does have implications on the turmoil we have been seeing for emerging markets. there were a group of investors

were still of the opinion that maybe are holding out hope that the fed would just start and dialback a little bit of the tightening. of course decent wage gains on friday and the u.s. have put a dampener on that thesis. so i think that sets up a bigger -- emerging markets again for a tricky space. as you say, yes, for one mystery options trader it was certainly profitable. have a look at the charts in your gtb library. it shows you the extent of this move in the treasury's market. basically this trader was buying put options. it only needed the 10 year yield to get to 2.9% friday for that to pay out. through, so pushed certainly a handsome profit for people who put the neck on the line on that one. but now the impact is going to be felt on emerging markets and whether or not people can start to get some sign of stability, of a very fragile sentiment.

>> would seem to interesting was the u.s. seemed to be the bright spot among global markets. starting this month we have been seeing some weakness. should we be concerned about this? >> i think the important thing is that this america first idea of u.s. assets that have outperformed rest of the world for most of this year, was really up until one week ago, still very much a solid thesis. the s&p 500 and the tech-led rally in the u.s. was still holding up, even though a lot had been thrown added throughout the year. plenty of controversy surrounding the nature of what happens to tech from here. that story continue to favor growth. in the past week some things have started to change. we did have a decline of 1% on the week for the s&p 500. and i think the fact that people are putting money out of some of

these big names in the u.s. does make it somewhat trickier now for u.s. equities. because you do have a change in composition in the market leadership, it might make things more shaky. stocks have been under pressure for some time now. so i think it is really going into this week, if we don't have much more on the trade front, what else can investors get behind to add to any optimistic positions in equities? >> thank you. don't forget to check out our gt library.ry -- our gtv from are less than 60 days november as crucial midterm elections. head of the republican national committee does not seem very optimistic >. >> if we pick up one seat that will be defying history.

we have had an unprecedented amount of retirements. that has made it harder in the swing districts. right now i would say it is 50-50. >> our bloomberg editor joins us now. a pretty bleak assessment when it comes to the midterm elections. 50-50. it readies and that? -- is it even that? could even the senate the in play? >> it is a very interesting situation. very interesting comments there. she is really the party's chief cheerleader. may havesment she gave been quite realistic but coming from her it was on the leak side. -- bleak side. democrats need to pick up 23 seats to take back the house in november. energizedd, they are and a feeling the need to get out and vote. so they have probably a good chance of doing that.

whether it is 5050 or more remains to be seen. polling puts democrats ahead on generic doubts. how that plays out district to district is always a little unclear. in terms of the senate, a harder , and harder task for the democrats because it had a lot of incumbents running in states that president donald trump won by a pretty wide margin in 2016. that would suggest is a republican advantage there. there are also some unexpectedly close races. ted cruz in texas is one republican locked in a tight and unexpected battle. which islike missouri, usually republican, is also an in the. -- neck and neck. >> as turmoil in the white house

continues, is there more we could get more from this book from bob woodward on tuesday? what has been the reaction from the administration? >> well, he saw the administration come out, price president pence, kellyanne conway pushing back strongly to the day -- today that this white house is in turmoil. kind of piggybacking on trump's suggestion he made on friday that the u.s. could investigate the writer of a very controversial column in the new york times, an anonymous column that ran on wednesday. woodward's book we have seen a lot of already. up the narrative that has been around for a while. there is a lot of craziness in this white house, a lot of disorganization. it's a bit of a reality show.

follow through on his threat to get the justice department to investigate? i think that remains to be seen. and democrats were certainly out today saying that would be a breach of the independent judiciary. president trump is not have much on his agenda this week. he has two rallies thursday and friday in missouri and mississippi. so, he will be making his case to voters once again. also very interesting at the moment, former president barack obama also on the campaign trail. so you have this interesting dynamic going on. it looks like it could be another volatile week for the white house. come, noireworks to doubt. in terms of political fireworks, let's get you an update on sweden's inconclusive election results.

you're looking at the swedish prime minister commenting moments ago in stockholm. no political block taking a majority. he says the result should be the funeral of block politics. he says he will wait the final election outcome before making an is is is -- making any decisions. economists say election results can see months of negotiations and uncertainties. we will take a look at the outcome in a moment. this is bloomberg. ♪ s is bloomberg. ♪

>> welcome back. >> you're watching daybreak australia. the escalating trade tensions between beijing and washington are starting to affect the chinese economy. the yuan has fallen more than 6% since june.

policymakers must remain vigilant and china's number one priority must be avoiding an asset double. -- bubble. >> for china, number one is avoiding the asset bubble. that we should keep the currency to be floating with the market demand and supply relationship. know, any distortion could accumulate along it. >> richard mcgregor joins us now. arguably beijing's top priority would be to maintain growth. >> absolutely. that is a very interesting stipend from the former governor. asset prices he is worried about. in other words, do not have another round of stimulus. the second point, currency stability.

in other words, do not try to use currency as a weapon with trade wars in america. use artificial appreciation to offset tariffs. it's an interesting intervention from him. >> willfully -- will he be alone? take a look at the policy tweaking, it is clearly changed. >> i guess so. i don't think he is alone, actually. i think he is the voice of a powerful technocratic elite, which is being headquartered in the pboc. amongsthat as well, many officials and the like who are extremely worried about the leadership forcing them back into full on stimulus, which i do not think we are at yet, by the way. >> china also announcing measures to support some exporters, raising export rebate rates. all of that money has to come from somewhere. to backtrack on its reform policies? >> i don't think so. reforming china is always they

part.ty piggelty they adapt as things change. they have a big issue in front of them right now with the u.s. tariffs. that particularly affects companies along the coast, private companies which are already struggling for capital because of the deleveraging process. now they are perhaps facing a crimp on their export markets. authorities in china are very aware of trying to tweak things as they go without upending the whole process. >> when you say tweaking, they're not likely to backtrack on major announcements we saw such as investment limits on industries from banking to agriculture being reduced? i mean, if the u.s. does go ahead with all the tariff threats, how is china expected to respond? >> well, a very good question. i think at the moment at truth

now, which is the imposition of u.s. tariffs on $200 billion were the chinese imports into the u.s. will that come all at once? will it be staggered according to the rate? i think we will not get a chinese response until we get u.s. action. i think china has been quite restrained until now, and i think there is a big debate inside china about just how hard they should push back. not just against the u.s. imports into china, but also the market opening measures you mentioned, and also perhaps most importantly, damaging u.s. corporate operating inside of china where the bulk of u.s. businesses are. ifi want to drop this chart, you are keeping track of where we are with these tariffs, actual ones proposed and threatened. that $260 billion, that is basically all of it. what happens then? how can beijing respond?

is there an argument that president xi can withstand it, because it is part of his re-shifting to domestic brands? >> it is very difficult. the chinese economy exports do not rely on the u.s. as they once did. but it is still extremely important. i think there is also a political side which is the bigger picture. people ine, a lot of the u.s. are talking about the u.s. and chinese economies decoupling. trump talks about that my putting pressure on apple to bring its manufacturing home. so, the bigger picture here is about a hardening of political positions, which will then spread their out the world and throughout different arenas. china can withstand it, but it will be painful. >> as heidi just mentioned, president xi trying to strengthen the mystic consumption. also steering away from cheap exports, was is something donald trump also wants.

is there some grounds for consensus here, given that they do want similar goals at the end of the day? there's some sort of similarity of goals, you could have event diagram. but the difference -- have a venn diagram. but the difference on the trump side is much greater. grading up -- breaking up the global supply chain sort comes through less asian countries. what is interesting is china has much more in common with japan, south korea, southeast asian companies, even australia on trade than it does with the west so -- with the u.s. are all kansas coalition's you could see including u.s. allies against mr. trump on trade. >> thank you so much. sweden,ad over to

because it is facing weeks or even months of political gridlock after an election dominated by immigration left no clear winner. we have just heard from the prime minister that election results are still uncertain and no political bloc has a parliamentary majority. our editor is watching this. where do things stand now? >> well, as we have just heard from the prime minister, there really is no clear outcome here at all. it is very hard to see given the positions between the two sides how they could perform a governing bloc together. it could be weeks or months before we see some resolution to this. there will be vote counting and trying to figure out how to move forward. but it's really unclear. no side has a clear majority joining.will not be now it is a question of how they conform different coalitions and form a majority.

>> what happens from here, then? >> well, that's the real question. how much could the affect the economy is also a big question that analysts are starting to look at. this is scandinavia's largest economy, and obviously political turmoil could really provide some uncertainty, which the markets are not going to like. the other question is what does this mean in terms of some of the issues affecting sweden? obviously this is the latest european country to have effects from this populist anti-immigrant movement, and what kind of legislation might come from that. one side had wanted to try to move forward in terms of making some changes to labor markets. that is unlikely to happen while you have this uncertainty. it is really a question of how they can sort this out, how quickly, and what effects it could have on scandinavia's largest economy.

>> jodi continuing to watch the story. you can also turn to your bloomberg for more on the swedish election. get commentary and analysis from bloomberg's expert editors. this is bloomberg. ♪ ♪

>> welcome back. let's get a quick check of the latest business flash headlines. coca-cola is reportedly moving forward with its indian -- coke is preparing a first round bid. it previously reported the deal could be worth around $3.9 billion. ,> japan has suspended conserving the first outbreak since 1992. within 600 people were recalled

after the outbreak in a farm. ministry sayse the virus is different from the african swine fever spreading throughout china. there may be a link to recent outbreaks in south korea and in russia. >> that's it for daybreak australia. we are getting into the opening of trading. we are seeing trading in new zealand getting open. let's take a look at how we are shaping up going into this new trading week after what has been a torrid week not just for emerging markets, for global stocks as well. the aussie dollar 7111, giving up the handle after a good week. the longestes, losing streak in more than two years. $36 billion wiped off. we are pretty close to 10 year highs. >> and of course plenty more coming up in the next hour, including what is happening in the swedish elections, where an inconclusive poll has left no

clear winner. election results are still uncertain. that's it for daybreak australia. daybreak asia is next. this is bloomberg. ♪ ♪

-- major markets are one hour away for opening. >> welcome to daybreak asia. top stories this monday. the threat of terrorists -- s on all exports. president trump says he is ready to go.