haidi: welcome to daybreak australia. shery: i am shery ahn. sophie: i am sophie kamaruddin in hong kong. we are counting down to asia's major market open. ♪ haidi: these are the top stories we are covering in the next hour. more signs of a slowdown in china. industrial profits declining for this consecutive month. october cannot and soon enough for some. -- end soon enough for some.

the dow and s&p close to correction. brazil takes a sharp turn to the right. crime and corruption dominating the campaign. shery: let's get a check on how markets closed. saw a lot of pressure for equity markets with the dow falling 1.2%. and the s&p 500 very close to that corrections territory from a september high. the nasdaq already in correction territory, down 12% since july, since august rally. the 10 year yield was under pressure. we saw the rally and spike continue in the last week, the biggest weekly decline in yield when it comes to treasury yields on the 10 year since may as we saw that fly to save havens. look at the markets, because they also had a tough week. we saw the fifth consecutive weekly decline for msci emerging markets, although because of brazil's election and optimism over the front runner, we saw

the riyal one of the big gainers in the last few weeks. let's see how markets will be trading in the asia markets. everything here will be felt across asia-pacific. haidi: you mentioned we are awaiting the results of the brazilian vote. we have one line crossing the bloomberg, exit polls saying the right-wing candidate leading with 56% of the votes that have been counted. we will be keeping you updated throughout the morning, but certainly does look like a question short of a massive upset. the magnitude of his the tree in this presidential election as opposed to what the outcome is going to be. we are watching the market reaction as well. let's get over to sophie kamaruddin in hong kong. is it going to be a better week? after: there is optimism the roller coaster ride.

asian stocks are bracing for more losses. sheriff's office to a slow start, down .2%. -- shares off to a slow start, down .2%. market values fighting with financial stocks, into with macquarie. i want to switch it up to check in on the names that we will be reporting from australia. we are getting first quarter protection updates from beach energy and independence group. komatsu, seeing results from japan and korea, and we are on the watch out for hsbc, china telecom later in the day. that is for the eco-agenda. on that front we have japan sales due out later. we will get the update from vietnam when it comes to trade data. over the weekend we did have chinese profits slowing for a

six-month in september. the pmi data due out on wednesday. we are expecting a slowdown on that front to drop for the month of september. haidi: big week on the data calendar. let's get you to first word news with a haslinda amin in singapore. the names have been released of 11 people murdered in saturday's mass shooting at a pittsburgh synagogue. the victims were aged between 34 and 97 and included two brothers and a married couple. the accused gunman is due to appear in court monday to face 29 charges. he made statements about genocide and killing jewish people. a law enforcement official said he owned his guns legally. the british government presents the budget later with hammond morning a no brexit deal might mean extended austerity.

recent data shows a hard split would slow to a near standstill next year, leaving him and saying he would have to present an interim spending plan to support the economy. he said the bank of england who need to consider interest rate changes. allows us a deal that to continue trading with our european neighbors with low friction at the borders and low friction behind the borders would minimize any negative effect. >> it will be negative. >> it will minimize any negative effect. whether there is a positive effect or not i cannot say. haslinda: support for germany's governing party plunged, the latest electoral test with the christian democratic union suffering its worst showing in hesse in 30 years. the christian social democrats got the lowest share of the vote since the second world war. the green party tumbles doubled

got apport, and the afd seat for the first time. saudi arabia is rebuffing calls from turkey to hand over the suspects in the jamal khashoggi murder, saying they will be tried in the kingdom. president erdogan called for them to be extradited as a sign of good faith, but a foreign investor said they are saudi officials and will be prosecuted at home. media asbed the hysterical. global news 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i am haslinda amin. this is bloomberg. haidi: thank you. we are getting breaking news crossing bloomberg. there has been confirmation that the leicester city football club owner has been confirmed he died in a helicopter crash on saturday. he was the chairman of leicester city. the football club confirming

that tragic news. he was on the helicopter that crashed after it departed just outside the english premier league's powell stadium. there had been a couple of days of speculation as to whether the chairman and owner of the club was in fact on that helicopter, and the football club has confirmed it happened 45 minutes after they played west ham on saturday. getting more developing details as we get them. let's take a look at brazil where the full have closed after the weekend voting for the presidential election. the right-winger looking set for victory. let's go to sao paulo. give us the latest. this is a question of the magnitude of his victory. polls less than 10 minutes ago. we got the official results, we were 89%.

56has a 12 point lead, percent versus 44% for the other. this looks like a sealed deal. shery: investors seem to be ignoring the authoritarian streak. brazilian assets have surged. reporter: we will see how the market opens tomorrow. the margin of victory is sufficient to believe he could have support in congress to push forward reforms he needs to do, but we have seen in elections in the past, sometimes the rally goes up until the vote and sometimes people take profits once the result comes in. we will have to see. shery: we also saw the biggest shakeup of their congress in decades. what are we expecting in terms of support for the rest of the political environment? he has a small party area

traditionally he had little support in congress. it will be the second-biggest party once congress is installed in february. the idea is he will have to spend the next two or three months building alliances and trying to build support for things like pension reform and other things. the workers party which was defeated tonight will be the biggest opposition party in congress, the biggest party in congress. we will see how that plays out once we see everyone sitting in their seats. shery: how big of a low is this for the workers party? dan: the biggest blow was when officially discarded from the race. he is still sitting in jail, and many wonder what the election would have been if he were allowed to run. they will have to regroup. it is not clear for that, who will be the future leader of the party or see if they can rebuild some of their way. cancel, executive

director for latin america. you can go to tliv on the bloomberg for more commentary and analysis from bloomberg's expert editors. meltdown ontech wall street pushed the dow and s&p 500 to the edge of a correction. we saw treasuries and gold spike as investors sought refuge. su keenan joining us. this is the worst month for stocks in almost a decade. su: we have seen more down days or on track to see more down days in the s&p 500 than all the way back to the financial crisis. where we go in these final days of the month is key. fallout, will that carry over into monday's trade? that is a big question. going into the bloomberg, gtv is where you find our library. this lays out the scenario.

indexnged index -- faang show the story. and the market snapshot, we talked about how bonds and gold have been spiking as a haven play. take a look at crude oil, down in extended trading. turn.k a huge downward some of the traders are saying there is fear selling, that it is in the stock market and other asset classes, spilling into the oil complex. they see the near-term director is lower -- direction is lower from here. --'s ofnother slow massive earnings, big energy and tech. one merger on monday. su: a game changer in the game aace, ibm confirming to buy red hot, the deal for $120 a share in cash.

a statement, 63% premium over red-hot's closing price. this chart is down year-to-date. you see 4%. this is a big deal for red-hot as well. reporting immediate cloud revenue to ibm and some say serve as a jumpstart on the catch-up efforts ibm has been playing. in terms of other events of the week, earnings remain key. still in the peak season, facebook and general electric, general motors. grabbing the spotlight. at the end of the week we see big energy companies, exxon and chevron among them, berkshire hathaway. listening to the ceo's is key. haidi: su keenan in new york. the final campaign going into the u.s. mentor elections, we will speak to mitt romney's campaign policy director about

how the economic issues are weighing on voters' minds. shery: what will brazil's apparent turn to the right mean for the broader emerging markets space? this is bloomberg. ♪ erg. ♪

shery:. i am shery ahn in new york. haidi: i am haidi stroud-watts. the polls in brazil closed moments ago with one putting the right-wing candidate ahead with 56% so far. let's look at the implications and the broader look at emerging markets as we kick off another difficult start to the trading week. we go to the federated investors president joining us in pittsburgh. great to have you. he is the manager of the debt fund, among the top 5% in its class over the past month. i will pause for a moment and get you some breaking news. he has won the brazilian

election. we will be waiting for more sort of official confirmation of won thet he has elections. is thelooking at question now the extent of his victory as opposed to whether this is, whether he has one or not? not for tort he has been light in terms of reform, pension reform and privatization, but the market has been kind of assigning its own suggestions or expectations on this candidate. light on then details. seems the electorate wanted the uncertainty that he may bring change versus the certainty the pt what not. there are some ideas circulating from his camp. his minister of the economy is regarded as being very strong, and there are, there is the

intent to tackle tension reform. there is ideas being floated around to establish a credit bureau, better scoring for credit to allow good creditors to be differentiated from poor creditors, tax reform. the number of things should be fairly progrowth if enacted. the extent of his victory is a key thing to focus on. if he has strength and the ability to negotiate with congress to push things through congress and push through pension reform, there is a lot of upside for brazilian assets. a lot of opportunity for growth in brazil. lots of people in brazil, lots underutilized capacity, poor investment in education caught up with pension costs. if resources can be deployed in the right manner and productivity can grow, we can see good four to five years in brazil. i want to throw out this

chart showing the economic issues this result shows and his governance as he presumably has secured this victory hinges on the deficit. this is an ailing economy with growth potential but structural issues. looking at the blue line is the performance of the rio. we have seen brazilian assets rally on expectations all this man will be the want to take the election. you talk about how divided congress is. 30 parties, the legislature. it will be hard for him to wrangle. is there a chance of disappointment? >> definitely. his presidency will ultimately judged on the basis of whether or not he can execute pension reform. navigating the congress in brazil will be difficult. successful in pushing through reform.

those are encouraging signs in folks affiliated with the man have done well. looks like the gubernatorial outcomes are aligned with his agenda and party. it is a monumental task to push through pension reform. another thing is of the 54 seats available in the first round in the senate, all but eight went to accumbens -- incumbents. they are looking for change. the current numbers in congress -- members in congress take note of that and will cooperate on pension reform. shery: brazil's largest trading partners on the u.s. and china. what are the risks of trade tensions hitting brazil? >> i don't think the u.s. will direct a lot of tough trade talk, and i doubt it would be the case of china either. still has a lot of necessary commodities to china and they don't want to get into issues

with brazil, particularly with the united states. those two economies slow down, how much of an impact will this have to brazil? >> brazil is a large export driven economy. that would be a drag on gdp. we have noticed brazil has a deep and diversified industrial base. if there are structural reforms internally, that can drive growth even if we see weakness in the exports sector, particularly in how assets trade. they are focusing on pension reform, tax reform, microstructure changes, limitation, attack on corruption. if those are executed, the market can look past a temporary blitz in trade. shery: what about the fact that the exports or half of them were raw materials? how sensitive will economy be to commodity prices fluctuating?

sensitive, but we have noticed on the private sector side the economy has a lot of ability to adjust cost, different external market forces. you may see, and one thing he has pledged to do, he has indicated he may want to drill for more mining resources in the amazon and to see volumes increase as well which would counteract the effect of declining prices. haidi: i want to broaden out to e.m.'s for the asset class when it comes to stocks. i want to throw out this chart. despite the fact we see major u.s. index is teetering on the edge of correction territory, we are still seeing broadly outperformance when it comes to u.s. equities versus emerging markets stocks. last week felt like emerging markets in asia were like welcome to the party, u.s. stocks. we have been here quite a while.

nice to join us. do you see that continuing, or do you think the fact our domestics have moved higher means you will see this kind of reversion to see the gap closing? over the long-term we see outperforming of emerging stock .ts -- market stocks looks like the equity market volatility has driven a lot of volatility in emerging markets, particularly on the bond side which i focus on. once we remove key issues globally, and maybe there is more benign resolution with trade talks -- we saw that with mexico. we will see how china plays out through time, but there is a lot of upside for merging -- emerging-market equities. haidi: is there a soft -- such thing as safe em bet? >> i am bullish on brazil. i don't think the election is

fully priced in yet. if it is to the government bond oneads or cause a sovereign spreads, companies in brazil will benefit from more confidence that man will bring to the domestic environment. there is a lot of opportunity for corporate debt for brazilian issuers. haidi: great to have you with us. federated investors vice president jason devito joining us in pittsburgh. we have one brazilian newspaper saying the right wing man has won the election. you can browse recent charts we brought up on bloomberg tv and catch up on key analysis, save them for your future reference. this is bloomberg. ♪ oomberg. ♪

i am haidi stroud-watts. you are watching daybreak

australia. mercedes-benz usa has been under investigation by safety regulators who say it failed several times to notify owners in the government about recalls in a federally mandated 60 day window. the company has omitted crucial information about problems based on recalls. they insist they make every effort to conduct such operations in a timely manner. abbi: a swiss manufacturer will build a robotics factory in shanghai to capitalize on china's consumer demand and tech aspirations. production should begin by the end of 2020 and capacity will be around 100,000 robots or a quarter of the global demand last year. they will also have a machine learning research center. >> china is robotics market number one in the world, and we are number one in this market. we have a great team.

we are taking our money and investing to really shaped the next generation of manufacturing, capacity, and we are building the global super factory for robotics right here in china. >> the most valuable distiller posted an increase in the last quarter and demand jumped in the run-up to the mid autumn festival. the net income was $2.8 billion through september with profits coming in at $1.3 billion. they face defining demand and china's dust has china's economy slows. haidi: the fed remaining unfazed despite the selloff. you must investors take the stock market in stride. take the stockrs market in stride. could the dots potentially change? we will discuss all of that

next. this is bloomberg. ♪ loomberg. ♪

sydney.t is 9:30 in markets open for the monday morning session and 30 minutes' time, looking like a drizzly gray. looking like we will start of the week parties flat -- pretty flat. another down day for tech again leading the losses. a big week of earnings with big tech and energy. we will get data with those, official pmi out of china, better indication of how the trade war and similar stories are playing out and look at the bank of japan adding as well. shery: 6:30 in new york.

looking at wall street on friday, we saw grim results, the dow and s&p 500 on the verge of correction territory, all of it being felt in asia. let's get to first word news. haslinda: exit polls say the thet-winger has won brazilian national election. he has taken 50% -- 56% of the vote. the former army captain ran on a campaign of tackling crime and corruption and opening up mining in the amazon. his leftist rival found his message ground by public anger at revelations of corruption inside his workers party. the weekend shows signs of a slowdown in china. 4% comparedover with a 9% rise in august. the slowdown comes as industrial out that grows and factory

deceleration stopped in september from a year earlier. profits rose 14% from a year earlier to 715 million dollars. the boss of it thailand conglomerate died. bought the list of city football club hoping to find the premier title leak years later for the aircraft came down 45 minutes after watching his team play. no one on board survived. thailand's leading political party has faced -- picked a new chief ahead of next year. he was named as leader and will decide later if he will be the candidate for prime minister. he is a general and was the only name on the ballot. thailand has been run by a military government since a coup

in 2014. an election is expected between february and may next year. global news 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i am haslinda amin. this is bloomberg. shery: we saw markets in the u.s. take a dive, tech stocks continuing to selloff. asian stocks at the lowest since april last year. let's see how things are shaping up. here is sophie. sophie: after falling into a bear market, asian stocks looking at a mixed start this monday. toptics and earnings remain of mind. you see a raft of disappointing guidance from several of korea's heavyweights. we have a lowering the 2018 gdp growth forecast on the back of the weaker than expected third-quarter. they do see the downside looking limited. when it comes to today, the

eco-do you could drive sentiment. retail sales due out, and we do have vietnam trade data. when it comes to what is happening in australia, i want to pull up this chart to show you. the $55n ahead after billion wiped out in market value. the selloff was led by financials that slid into a bear market ahead of the earnings. levelx trading as lowest -- at its lowest level in eight years. i want to draw attention to japanese autos on monday. trump said the u.s. could japanese carfs on imports. honda is considering moving somection of its fifth compact cars from mexico into the u.s. must is expected to slash its outlook by ¥30 billion because of numbers from july.

sophie kamaruddin there in hong kong. let's get more on what we should be watching with trading in asia. haigh is with us. brand-new week. i remember a time when earnings season was full of optimism. adam: it wasn't long ago. people are dialing down numbers through earnings season but even now, manythrough that companies have reported we are seeing a greater sense of concern on earnings numbers. they are coming down albeit a fraction. they are coming down with forecasts continuing to be brought down. a lot ofhas wiped out global equity. the extent and the breadth across global markets in the world is creating a lot of difficulty with what kind of cattle this would trigger a

rally. this chart in your library shows the extent of the october losses in u.s. equities, so it is unusual for us to experience this kind of turmoil during this bull market. there isn't really one catalyst you can point to that might give us a rally as you have alluded to. they had been firing the economy, the economy had been firing, and expectations were high. one thing people were prepared to put to the side in that they thed bid up risk assets was quantitative tightening idea that this year with the fed continuing to tighten policy and the ecb and bank of japan getting closer also, shrinking their asset, that doesn't become a problem for risk assets. in the last two months when the 3.26ar topped out at percent, you got the selloff in bonds. the tightening of financial conditions idea is becoming more of an issue for people.

the market looks fragile. there is a lot of markets still trading below the 200 day moving average. the start this week, things are looking precarious. in china we saw the chinese yuan falling to 2018 lows. what are we seeing in terms of equity markets? adam: if we keep the focus on one of thet is clear overarching reasons you have continued weakness in the chinese currency is because of expectations for policy using. mark -- policymakers continue to respond to issues in the economy that are in many people's eyes when they to prop up have to flip from one side of theastructure, kind of let credit boom and moving back into

the other direction to try and give some impetus back into credit markets. the outlook for the chinese economy continues to remain reasonably fragile. this chart in your gtv library shows pretty clearly have getting back to the start of 20 17 levels for the offshore yuan kind of takes us back, if we get through, it is that decade low. the white line is the yuan against the basket. the key level being seven per dollar for the yuan continues to be the talking point for markets. the extent to which state intervention will occur as we approach or go through that level, in the past, there has been signs that has been a key level from an intervention point of view. as we have seen on the equity markets side is we have had some intervention from the national

team and state authorities, but nothing really substantial to give international investors and of hope that it will build a base and floor for chinese equities could we had a rally in recent days in china. difficult to say whether it is part of a longer term move. area you canaigh find his charts on the gtv library, gtv on the bloomberg terminal. central bank watch continues in earnest as more voices call for the fed to be mindful of the impact of its rate hikes on global stock markets. kathleen hays joining us now from tokyo. contradictorysome fed voices recently. kathleen: they certainly seem to have different views. the consensus is setting us up for another rate hike in december but the longer the markets estate volatile, the more uncertain that becomes. rob kaplan spoke to bloomberg for mexico city on friday.

he is not a voter but is on thered a centrist fomc, giving a sense of where the weight really lies. he said some market volatility up or down is typical. we are putting a lot of weight on what it comes to policy, but he is cautious on rate hikes. here is what he told us area >> to 2.75.be 2.5 we will have to make that judgment over the next year as the economy unfolds. toyour point, i am sensitive not being rigid or predetermined about the pace at which we get there. kathleen: the fed is currently 2.24 percent.

2.5 tod be as low as three. rafael bostick spoke again last week and wrote -- wrote an essay on the atlanta fed website, worried about the economy overheating. neel kashkari said certainly it does. not a voter, but he put an op-ed in the wall street journal saying the fed should pause. they have a flexible mandate, should allow inflation above 2%. if they don't, they could stop wages from rising and prevent inflation from staying at the level where it is. a lot of different voices. one more reason god -- bond traders are thinking of three rate hikes next year. they could do one more in 2019. that would be important to follow. haidi: when it comes to the bank of japan, that is why you are in tokyo this week, they have more clarity. they are a long way from making any move on rates despite the

self tapering. is there anything governor kuroda could signal that would change the way markets feel? kathleen: let's take a look at our latest survey. they see more and more focus on the 10 year because it has been tweaked, widened. the top-notch is 0.2%. considering they have anchored posts to zero, it is a big deal -- close to zero, it is a big deal. 63% of see them changing the inflation forecast. year-over-year, halfway to target again, 90% don't expect the fed to take extra action to counter the 2019 sales tax. i think people are also putting focus on this range. it could between again, bloomberg hearing from its sources that there are those in favor of widening it to 0.25%

because of financial stability, regional banks needing a steeper yield curve. number economics is looking for any references to a global slowdown, not just europe and also china. these things that could come out in their policy statement, monetary, and the press conference. the tuesday meeting starts wednesday when it wraps up. haidi: thank you so much. kathleen hays in tokyo for boj week. midterm elections a week away now. a formerpeak to presidential campaign policy director next. this is bloomberg. ♪ . this is bloomberg. ♪

shery: i am shery ahn in new york. .aidi: i am haidi stroud-watts president trump has another is a

week of campaigning ahead of him with nine days to go until the midterm elections. violence is increasingly dominating the narrative. the attempted pipe bombings and mass murder at a synagogue synagogue in pittsburgh. it is the president doing anything to lower the temperature after the recent spate of incidents? ros: it has gotten quite nasty around here. we looked at president trump last night doing a rally in southern illinois. he seemed subdued and said to his supporters, i will dial it down. they were not happy, but he did not quite push up the rhetoric to the level we expect. he is all about getting out the vote. he knows to motivate a lot of his voters, the republican party doesn't expect to pick up a lot of new support running up, but they want to maximize their current supporters.

can president trump do that being the nice guy, or will he go back to his usual rhetoric? he is up eight to 10 rallies over the next 10 days. he is going everywhere from florida to montana, across the country. [no audio] [please stand by] nottimes we think that is meaningful because there is no national congressional election. it is 400 local elections, many of which hinge on local issues. some of these congressional districts really have not had much in the way of close

in manys and polling election cycles. democrats have the edge, they need to get out the vote. we have been hearing a lot of enthusiasm among young voters. remains to be seen if that goes into the voting. republicans have the hand to hold on to the senate. shery: thank you so much. we turn now to someone who knows what this last push in an election is like and what it demands. he is a research fellow at stanford university. he served as policy director for the romney-ryan presidential ticket in the 2012 election. we are seeing these pipe bombings and the mass murder at that pittsburgh synagogue. this has become the latest headlines. people questioning whether trump should they are some of the responsibility over this tribal identity politics. is this owing to matter november 6?

matter not sure it will too much. the fundamentals were set a long time ago. the economy is one issue. immigration is another. the judges, the controversy on the nomination of brett kavanaugh, and health care is another issue. those are the issues driving this election fundamentally. what has happened the last few days is disturbing, and there are things people look at and say the political environment can become toxic. in terms of influencing voters and how they will make positions at the ballot box, i am not convinced it is a major issue. back, a few months political commentators would tell us the midterms are about local issues, but that has changed now with justice kavanaugh and so forth. so will it be a local election or national headlines that will dominate? >> this is one of the first of

that has national implications, national overlay. it is traditionally the case midterm elections are about your local member of congress, your local representative and how you feel. voters have tended to separate these. this election is different we find three out of four voters will say their opinion of president trump affects how they will vote on november 6. this is a nationalist election and a way we haven't seen recently. this is different from previous elections. orsident trump's popularity lack thereof is driving the different districts around the country. haidi: a lot of people say it is turning into a referendum on his term so far. how much does trade play into that issue psychologically? where you live. there are some states where trade is playing as a major issue. florida is an example where trade is hugely influential.

iowa is a midwestern state that has form products traded around the world. their trade is an issue as well. but in other states it doesn't register as much. the question is if it is having an impact on the greater economy, and that is where it could have an impact on voters. as an issue it is more a background issue than something front and center as voters look to make decisions. haidi: it is the background issue that even if it comes to the four, the result of the midterms doesn't really impact the trade strategy, because it is in a lot of ways pretty bipartisan. >> it is a bipartisan issue in that there are people on both ines who believe strongly the value of free markets and trade. the other issue is trade is an executive function by and large. president trump will drive the trade agenda. he is the one in the midst of negotiating agreements with

japan and the european union and the lingering discussion with china is a big part of the agenda going forward, but that is a function of the president and what he will do. shery: we still have to get through november 6, but i want to talk about 2020 because i wonder, a lot of people say the u.s. economy could go into recession in the next two years. will president, trump losing the house or the gop losing the house be an asset in that he will have some one to blame if the economy actually spirals down? >> it is one way he can deflect blame. the president oftentimes will claim credit for success. if things go poorly, they say it is someone else's fault. if democrats are busy investigating him, he will say instead of making progress on tax cuts round two, progress on trade, we have obstructionists

in the house who are letting this economy not take off. the other thing we cannot underestimate is the degree to which democrats politically obstruct his agenda will help them. it could make them appear stronger into the 2020 presidential campaign. shery: setting up the senate races where republicans have to defend twice the number of seats that democrats have this time of -- >> it is very bad math. been that much has worked for president trump blaming the fed over the market selloff? >> the president letting off steam on the fed is something we pay attention to, but for most ordinary voters, they have little information about what the fed does. they have an impression that is not positive. the fed will do what it does. doesn't matter what pressure he applies, so it is mostly theatrics more than substance. haidi: thank you so much.

from the hoover institution. shery: plenty more coming up on daybreak australia. this is bloomberg. ♪ . this is bloomberg. ♪

shery: you are watching right now former army captain of brazil giving a speech, giving a victory speech live on television from rio de janeiro. he says it wasn't that of one party, that this government will defend the constitution. he is also saying he will work for freedom and prosperity. we have seen a global call, saying he has won the presidential election. still waiting for the official result. this was a very divisive campaign. -- bringing point to an end this roundup vote

after the first vote earlier this month. haidi: it has been a dramatic and divisive campaign, encompassing his stumbling -- stabbing. he was hospitalized. the front runner was imprisoned on corruption charges. his successor was unable to gain traction. this is the market friendly result. there is not a great deal of detail as to what his economic or financial policies are going to be. he spoke about wanting to liberalize the economy, privatize assets. we have seen a rally in brazilian assets. it appeared he would get this runaway victory. the devil is in the details in terms of whether the market will like the lack of detail now he work over the role in the and begins, given how divided the congress is, he has a steep road i had to unite the videos in the country.

-- views in the country. look at new zealand with trading getting underway. we are a few minutes from the open in sydney as well. trillione week, a $6 google selloff. this is bloomberg. ♪ this is bloomberg. ♪

haidi: a very good morning. australian markets have just opened for trade. shery: good evening from new york. sophie: welcome to daybreak asia. haidi: our top stories, more signs of slowdowns in china. profits declining for the fifth consecutive month in september. october cannot end soon enough for some. dow and