>> welcome to daybreak australia. i am paul allen in sydney. >> i'm ramy inocencio in new york. >> sophie kamaruddin hong kong. we're counting down to the asian major market open. paul: the top stories we're covering, theresa may prepares to offer her brexit plan b. she told her cabinet there is little chance of cross party support. you shutdown drags on in washington. president trump's latest offer is rejected as a top democrat says let's talk. tesla cutting jobs by the

thousands. the road ahead is rough. it has lost his crown as the most valuable u.s. carmaker. ramy: let's get a quick reminder of how u.s. stocks ended last week. they were clearly in the green. all gaining. the dow up by 1.4%. s&p almost as much. highs we have not seen in the past six weeks. december 6 was the last time we saw the indices at these levels. some optimism here was because china was saying listen, we are willing to actually put the trade deficit down to zero by 2024, but then the white house said we might do an executive order possibly against chinese telecoms. we will see how that goes into the asian trade day. sophie later on today in about three hours time, four hours, we are looking at chinese data coming out. sophie: that is the highlight of the date when it comes to the eco-agenda.

seeing aay we could be start looking positive for asian stocks. we see a pop of 1.4% at the nikkei at the start. china offering to go on a six-year buying spree of u.s. goods, helping to buy some relief. in australia we are watching for it the u.k. post-brexit. folks will be anxiously awaiting on a china data dump due out at 10:00 a.m. hong kong support -- hong kong time. ahead of that we have the offshore yuan posting its biggest drop in two months. trading flat ahead of the data dump later. the aussie study after halting a three-week winning streak. yen holding against the dollar after the first weekly loss. paul: now let's get the first word news. here is su keenan. su: british prime minister theresa may is said to have

dropped the idea of cross party support for her brexit deal. she has told cabinet the issue will have to pass on conservative and mp votes alones. the european union is split on how long if at all a brexit deal should be delayed. it is up to the u.k. to request a delay and may say she has no intention of doing so. president trump's lawyers say discussions about a real estate deal in russia continued up to the 2016 election, later than has been reported. rudy giuliani says conversations between trump and michael cohen happened as late as november that year. cohen admitted that the two sides were talking in june 2016, having appropriate -- previously told congress talks ended much earlier. populist government is facing criticism as it battles a slowdown that may require greater fiscal spending.

ahead of the country's --ministers must acknowledge the controversial budget is likely to increase the deficit and not boost the economy. the slowestve growth in the euro area this year and next. 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 su keenan. this is bloomberg. china releases gdp figures later on monday. economists predicting a 6.4% growth in the fourth quarter. that would match the slowest pace in at least 25 years. our china correspondent tom mackenzie joins us from the for been city in beijing. what else can we expect? -- from the for bid and -- forbidden city in beijing? 6.4%, down from 6.5% the

previous quarter. it is the raise we have seen the last seven years. skepticism about the validity of china's gdp data. there have been reports that for 2019 they will set the for your and 6.6%.ween 6.5% that will likely be confirmed in march. in terms of other data, retail sales will be in focus. surveys have that number coming in in line at about 8.1%. the strength and health of china's consumers is in focus. they have started to weaken and the optimism for chinese consumers have become more problematic. we saw a personal income tax the end of last year. we will see how that feeds into retail sales numbers. of course we will look at things like industrial production. but is expected to edge down to

5.3%. end, or at least the slowdown in terms of the frontloading affect we saw in 2018. we will see how much that plays into it. for many economists the bigger factor is domestic demand and external demand for production. to what extent is infrastructure being ramped up in china to try and offset the slowdown in the economy. all this data coming on back of the contraction of pmi, the slowdown in exports and some weaker factory prices as well. very much in focus around 10:00 beijing time. ramy: china has apparently offered to close the trade deficit with the u.s. by the year 2024, but it seems that is not very realistic. it is interesting, you talked about the market reaction to that. we had a similar offer in may of last year before president trump nixed that. that was a proposed a proposed

deal struck between steve mnuchin introversion -- the treasury secretary and here in china. talks ine most recent beijing there was a proposal from the chinese side to ram pu imports of chinese goods by about $1 trillion by 2024. u.s. officials were skeptical. they said if you can do it in two years we might consider it. some economists, including our own, say that this is very hard to achieve. even if they are a will to do it, it would be about the chinese shifting their surplus to other nations. again, if you really want to structurally change the deficit it requires supply chain changes. whether the u.s. agriculture producers, even boeing planes would have the capacity to ram meet thatp up to would be a question. we will switch focus to the

trade talks which will continue towards the end of this month. forward, thats would be the hope. today it is all about the trade data, whether the stimulus impact, big tex cuts have been enough to offset the fall in demand and impact of the tariffs . ramy: 6.4% is the expectation. tom mackenzie live from beijing, thank you. let's stay on china. while the country may be taking steps to ease tensions, the u.s. maybe renting them up. the trump administration is preparing an executive order that could harshly restrict chinese telecom firms from operating in the u.s. ros krasny is here in new york. good to see you here in person. when trump really goes after while way -- interesting the way the trump administration often blurs national security issues with trade issues. it is hard to know exactly where

they're coming from. it comes against an upward trend line in relations between u.s. and china and china's offer to narrow that trade deficit. i would think they would be a lot of concern in beijing about this. it really seems like it has taken to an ultimate degree. it could really be a death knell for a company like huawei. just as the trump administration has gone after another company. trump is not yet seen the order, you may see it in february. it would give the commerce department a lot of discretion to go after the chinese companies and restrict them from working in the u.s.. so definitely at a time when president trump once the u.s. and china to strike a trade sideline.s a little paul: separate to that thorny

issue, officials preparing for a second summit between trump and kim jong-un. vietnam shaping up as the likely venue. what does each side hope to get out of another meeting? summit,er the first president trump essentially declared victory. he indicated it was a very successful meeting. but there has been very little progress in follow-up talks with north korea on the ultimate u.s. goal of denuclearization. trump,ink the u.s., secretary of state pompeo would like to see some movement in that regard. i think kim jong-un would like to see the u.s. really make some pretty significant concessions in terms of easing shenzhen's -- easing sanctions and supporting its economy. whether we will really see that, i do not know. people think this is a great

distraction by president trump for the government shutdown, b mueller investigation and all the other things is administration faces at the moment. certainly president trump has a great report with kim jong-un. i am sure he is looking forward to meeting him in vietnam. ramy: it certainly makes for good tv. we certainly focused on that when it happened. back in washington dc, the government shutdown, over the weekend government trump gave an olive branch to the democrats but it did not move the needle much. ros: it did not. in fact nancy pelosi and other top democrats came out before president trump even spoke yesterday and said this is not good enough. nancy pelosi said the good things that were in the trump proposal had been there before, and this was just being laid down with new bad things. we heard from the number three democrat in the house today. he laid out some of the things

that democrats really want to see from president trump. so, this week we will get a bill on the senate floor. it will at least give all parties a chance to vote and put their views on the record. timing-wise, a lot of federal workers this week will miss another paycheck. and as we are hearing from agencies like the tsa, -- like the tsa, the call outs, the delays at airports, one of the most evident faces of the shutdown will really be on the rise. that wraps up pressure on both sides. uper the -- that ramps pressure on both sides. krasny, we will have to leave it there. still ahead, canada's trade minister warns the wto risks

grinding to a halt. ramy: next, what markets are watching in this week ahead. that as world and economic leaders are there to meet at davos. this is bloomberg. ♪

ramy: welcome back. areings, davos, and brexit all back in focus as we kick off a new week. su keenan is here with a preview. stocktraight weeks of market gains and the key themes. davos, andf focus on can earnings take the market higher. what we did see is a strong friday performance with energy stocks and tech leading the way higher. short is theth saw title of this chart. likely to drop back down. as you see it has come up in the most recent run-up.

four straight weeks. quickly into the range of stocks and companies that are reporting in the coming week, everything from intel to starbucks the ford motor company, the next page, a lot of the major airlines. there has been a lot of doom and gloom in the industry but we had united come out with strong news. many will be looking to these companies to get a better sense of what the real deal is. su, there was doom and gloom around the oil price but that has turned around. investor concerns about the fed and trade easing. tell us about the bullish bets that hedge funds are taking? su: particularly brent crude, completely reversing course and betting on a hike. 9% increase alone in the past week. a two-month high on the china truce, on word that tensions are getting easier. the fed maybe also easing. that is a positive for oil.

best kickoff for trading since 2001 in terms of year to date so far. crude oil up 18%. a lot of this positive. the biggest climb over the first 13 trading days since january 2001 according to bloomberg data. a lot of bulls have had to reposition as a result. again, the direction question both for the commodities, to gold quickly, it came down office recent run-up. the direction question of commodities and stocks very front and center as we kick off the week. paul: su keenan, thank you for that. let's take a deeper dive into what markets are watching. we have george bavaro's joining us now. you heard a pretty upbeat assessment from su. u.s. markets ending a week positive. his 2019 up to be a repeat of

2017, or are we missing something here? george: good morning. overgeneralize, 2017be a combination of and 2018. volatility we saw in the last quarter of last year with risk assets to continue. but coming on and off trade. u.s. peak earnings was the september quarter. extraordinary numbers. they are worried about this quarter. the peak earnings is behind us. the peak u.s. economic momentum is behind us. that still doesn't take away the construction at the moment. people are preparing for the larger slowdown we get in 2021. it started from late last year. u.s. still looks robust. the u.s. shutdown does not help that. paul: there are plenty of risks. you mentioned the shutdown, the trade issue.

we were talking earlier about an executivel of order against chinese telecom companies. how big is that in your mind? george: a large risk and it will impact potential positive outcomes of trade talks. obviously since the argentina meeting late last year you are seeing some constructive language between the two parties about china trying to find mediation. it will probably not happen as smoothly as we wish that to happen. expanding in core europe and core north america, they suitably developed the markets -- basically developed markets will be a problem for them going forward. ramy: big conviction is the strength of u.s. dollar going ahead. i want to bring in how the dollar has been tracking donald trump's approval, mixing in a little politics here. tell me what your trajectory is for usd this year. there are some ups and downs depending on what you are talking about. george: spot on.

obviously a timing issue. of u.s. dollar reversal. it depends on many things. the fed, trade wars and momentum. obviously we have downgrades coming from the imf late last year, which is a function of slowdown from a high robust level in the u.s. obviously the slowdown that has been underway for a year in china has been addressed with the stimulus underway. ramy: you just mentioned the fed so we have to go there. in terms of hikes or a next pause, what is your outlook? george: we are looking for two over the course of this calendar year and possibly one. that would go into the neutral range and is pretty good. they have room to go with economic momentum. i think markets should understand the fed is not there to protect them for the foreseeable future, like they were led to believe post-2008 to

2012. balance they are not there to protect those returns. i think they have done a good job on balance of addressing that. they have room to go. they probably will because this, given the previous cycles. paul: you mentioned trying to stimulus. the big one we are waiting for his fourth quarter gdp numbers. china already walking back the 2017 numbers, revising those down. how underwhelmed are you prepared to be? george: i am taking down my approach, notwithstanding a stimulus is underway. the chinese equity market has recovered strongly from those lows in mid-november in anticipation of the stimulus which will support metal in the second half this year. the number of managers to be looking at will be investment infrastructure. that is the policy they are looking at.

we will look at how that is addressed and looking at it in the foreseeable future. the china stimulus we are expecting and a dissipating in the second half of this year will basic support for metal. at the moment they need more stimulus versus what they have already rolled out. they were looking at six investments specifically and saying that tracks for the rest of the year. paul: this is daybreak australia so have to ask you in australia question. on friday we had some good production numbers. shares outpaced, planning to ship even more in 2019. buyhe chinese stimulus, right now? george: aussie miners are a technical trade buy and that scenario inbuy december when he saw evidence turning around with the china share recovery. obviously equity markets --

yes, bhp will increase their volumes on the back of the stimulus. obviously dollar is very beneficial to the earnings outlook in those companies in short-term trade. yes, they are a tactical buy at the moment. ramy: we have to mark brexit. especially after what happened with theresa may's brexit deal, that historic failure. what are you seeing in a possible outcome and how that might impact the british pound? george: quite clearly the westminster system is extraordinarily adversarial. seen therely we have are no charts the labour party will come to any reason to have a negotiation. it increases the risk, takes off the sterling strength we saw last week. it is a big sentiment indicator. they just have to find that solution. adversarial language will

continue for the foreseeable future. just to reinforce sterling to come off on the back of the news in the last couple hours. ramy: great stuff. george, thank you very much, as always. you can get a roundup of the stories you need to know to get your day going in today's edition of daybreak. it is also available on mobile and the bloomberg anywhere app. you can customize your settings so you only get the news on the industries that you care about. this is bloomberg. ♪ bloomberg. ♪

paul: i am paul allen. ramy: you are watching daybreak australia. let's do a quick check of the latest business flash headlines. tesla won a green light to sell the model three across europe. deliveries are expected to start next month. europe is a priority for elon with the market twice as large as in the u.s.

demand might -- thomas cook group says it is building two new hotels in china. the project will include the first asian branch of the company's own brand. the tour operator is targeting china's $760 billion tourism industry and has set its sights accounting for 30% and 50% of sales. ramy: a leading telco is standing by its partnership with huawei despite growing scrutiny around the world. they have written saying huawei remains a viable and reliable canadiannt in telecommunications. it also notes the positive and transparent relationship between the companies. paul: next, vietnam says it will not lower its currency to boost exports.

even as the trade war bites southeast asian. we will have our exclusive interview with the prime minister next. this is bloomberg. ♪

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limited time, get $150 off - and free shipping too. just go to buyleesa.com today. you need this bed. sydney, as 9:30 in very sticky, humid summers day. markets opening in 30 minutes, futures pointing higher by .75%. it is 5:30 in new york, and you are watching daybreak australia. let's get to first word news. su: the trump administration is working on a second summit with kim jong-un, expected to take place in vietnam. the white house announced they would meet late next month with hanoi or donating seen as the dashboard -- neither side elaborated on what was discussed or what might be on the agenda.

the top democrat in the senate said president trump's latest proposal won't pass. chuck schumer said the offer to extend protection for dreamers in return for funding for his wall will be blocked by democrats on capitol hill. the fallout is widening with increasing numbers of workers saying they cannot afford to commute to their jobs. >> let's go back and forth on this and see where we can find common ground. we are all for negotiating. we would love to have a -- six just -- a permanent fix. su: carlos ghosn says he will guarantee to stay in japan until his trial, and he will be happy to wear an electronic tracker. the french government is playing down a full merger between renault and nissan saying there are no plans to redesign the

decades long alliance. nissan has a voting stake in renault, which in return has stake in its japanese partner. 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 su keenan. this is bloomberg. ramy: let's get to sophie kamaruddin with another check of the markets. see green could across the screen. we have stocks in new chief -- , a zealand batting .2% fourth day of gains and looking like positive start for aussie shares as well. looking for reaction to a trade agreement with the u.k. that will wrap up, brexit trade and sectors covered by the deal worth $2.6 billion. a separate deal with hashed out on australia's work -- wine exports.

let's look at all the bond that opened lower, optimism on trade with china offering to buy more u.s. imports over the next six years. when it comes to stocks, we are keeping an eye on sand fire saying it is exploring a takeover bid of a junior copper producer. sinceher stocks, watching metals, roughly 12% drop in the first half underlining and underlying earnings for tax. and we are keeping an eye on saracen after it boosted its after secondls quarterly output came in looking better than expected. thank you. let's get more on what we should be watching as trading gets underway with global markets editor adam haigh. the big one is fourth-quarter gdp in china. we are not expecting great things, but we have deutsche bank wealth management backing

the rally in chinese equities to continue. this has been a slowdown -- the slowdown is pretty well flagged, and the point deutsche bank is making, and they were bold at the end of october saying getting into chinese equities, a lot of people hadn't seen that really coming, and you had a good run up in stocks, now they say this stimulus will continue from the chinese government. you have this slowdown pretty assessmentspeoples overplaying that slowdown of growth and in certain sectors of the economy. the rally could easily go further. as i alluded to earlier with the subscribers can see this chart on their gtv library, the terminal. we have had a decent rally. the longevity of this continues which isffed in china

a retail dominated market. institutional investors have been wary of what was a decline in the shanghai composite in 2018, so there is reluctance to get in. there is a clear argument from deutsche bank saying you want to buy chinese stocks. paul: people are not sure. the u.s. bubble is your sting, , sohat is -- is bursting what is the reasoning? adam: they have been typically bearish through the later phase of this bull market, so it is not surprising to see more bearish tones from gtmo, but they have this bubble that is being acknowledged by martin talley. he is looking at previous cycles were you had a pullback in equities and putting the crash in 1929, including the late 1980's and the tech bubble. what he saw at the end of 2018 was the same characteristics in

terms of the mean reversion of valuation. when prices go back to their long-run average at a speed and magnitude, he said a lot of the same things from the backend of last year that were happening in real key crisis points going back to 150 years. clearly a downbeat note. it has been happening as the rally has gone on from mid-december in u.s. stocks and across the world. this is gaining pace. interesting to hear a contrarian that you gtmo -- gmo want as little equity exposure as possible. paul: don't forget to check out gtv library. you can see the charts you just saw, give that function, gtv . it is on your bloomberg. tesla is the latest car company to downshift to a leaner existence. elon musk said the road ahead is difficult.

ramy inocencio is over at the wall. show us how difficult. ramy: when you look at the share price, you can see the difficulty. when the ceo of your own company starts to complain about his own company, that doesn't inspire confidence. that is why tesla fell 13% friday. elon musk is saying his own cars are too pricey. he is also saying there is as you said a difficult road ahead trying to get more cars to the mass market. let me show you bullet points in terms of what really needs to be known in terms of the difficulty pushing ahead. elon musk said he is cutting 3000 jobs. this represents 7% of the entire workforce. sometimes, you see an uptick with increased investor confidence. we did see that on friday.

the cheapest model, $34,000, elon musk is saying he needs to sell -- $44,000, elon musk says he needs to sell cheaper cars, but he said if he did that too early, tesla would die because it would undercut itself. expansion will be costly. china of course, elon musk was in the country to open up that first factory outside shanghai. the e.u., they got the green light to start selling cars there and there is more a petition from daimler and other companies, the parent of all wagon, which will hold out 50 ev models over the next several years. terminal, thenhe i will send it back. talking about the share price fall. tesla's share price is in white. i want to zoom in because it had been the biggest market cap for u.s. automakers for the past

half year or so, but gm now pitched that after it lost something like $67 billion friday. thanks. as we have been reporting, vietnam looks set to host a second summit next month between donald trump and kim jong-un. that comes when vietnam is starting to feel the effects of president trump's trade war with china. but the prime minister told us that the government will not devalue the dollar and will boost exports and growth. >> we have had strong growth. however on a small scale, so we need [indiscernible] per capita income has been significant, and the economy is growing. it could grow further to escape the middle income poverty trap. reporter: what challenges might you face in getting your growth target?

>> we have issues such as trade frictions in the region and in the world very climate change and the lack of infrastructure in countries like vietnam. best tooing our overcome these challenges with creativity and effectiveness. that is the message i want to give to the world economic forum. we have strong foundations and fundamentals. haslinda: you talked about the u.s.-china trade war, but last time when we spoke you said there were opportunities. to what extent have you seen a change in supply chain? have you seen companies move from china to vietnam? >> we could see them when they arise, but we haven't see much change. most trade is carried out with partners like with the u.s. and the e.u., so if any of these come to any trouble, it will also come to us. the u.s. has pulled

out after tpp. what is stopping the at from establishing bilateral trade talks and come up with a bilateral trade agreement? vietnam and japan have been leading efforts to maintain progress on the tpp and we have achieved that with 11 members. trade between u.s. and vietnam has seen growth. exports are beneficial for the u.s. people. and in the future we will work towards a more balanced trade between our countries. bought 150eady boeing jets from the u.s. and agreements have been signed. they will be delivered soon. we have seen the presence of large operations like ge and big oil and gas companies into --tnam, so that is happening helping bilateral trade. consider would you

devaluing the dong to help exports? >> that is not our policy. we want to have a stable vietnamese dong. we need stability of the currency. ramy: that was the vietnamese prime minister speaking to haslinda amin. canada's trade minister said trade relations are in a tough patch overhaul way. more on what he had to say -- over huawei. this is bloomberg. ♪

paul: we are counting down to the sydney open, 15 minutes away. up .375 -- .75%.

[speaking simultaneously] paul: go ahead. ramy: just saying we were looking at how the green we were seeing in terms of futures is getting propelled from the united states. the dow, s&p 500 and the nasdaq really saw their best decemberce ever since 6, so good optimism coming out from the u.s.-china i guess talks, i suppose. we will have to wait and see what happens especially after there could be reports of this executive decision from the white house to charm -- challenged chinese telecoms. -- christine, is let's talk a little bit more about this in terms of where we are in the playing field between the u.s. and china. we had positive sentiment, very positive in the markets when it came to friday, but there could

be a spanner in the works when it comes to the telecoms issue. what do you make of where we are right now? >> there are a lot of balls in the air but the national security issue i think is somewhat different from the trade tensions. i think the telecom issue, that issueeal special security and legitimate one. this is not a steel or widget import,. security issue. -- that said they could be able to get results and simultaneously, but the judges are handling part of this and so we shouldn't get too caught up in what is going on, thinking there will be high-level trade-offs at the last minute.

the faraway issue has been a long time coming. talks arehina trade going on, and we are hopeful that there will be some short-term solution announcement, and then with a longer-term plan as well. one of the other things, it looked really good on paper, on headlines in terms of china wanting to take down its trade to visit to zero with the u.s. by the year 2024, but this doesn't look very possible, i almost want to say impossible. christine: that is right. trade policy has nothing to do with the trade deficit. it is one of those things economists sale the time, and very few people listen. i am glad to hear you say that. even if china were to buy $1 trillion worth of u.s. goods

over five or six years, i don't know if that would be in addition to their current purchases or basically the yearslent to the last six more or less going on trend. but that is going to be great for certain parts of the u.s. economy, but the u.s. can only produce so much. we will be selling more to china. it could put a blip in the federal trade deficit with china but not have long-term effects. paul: one huge story we haven't dealt with much is brexit. no one seems to have a plan that is acceptable to anyone else and now it is death by 1000 cuts. at what point is it preferable to just get on without a deal? christine: it is painful to watch. it is like deconstructing a casserole.

out,he longer this plays the more likely we are to see a hard exist. maybe that is what we will wind up with. the longer this plays out with exit,ution and hard perhaps that give the market time to adjust to a hard exit. i don't see the sky as crushing. there will be some transition costs for sure, but a hard exit wouldn't be so bad because that would force [indiscernible] to make hard choices they haven't been able to make given the comfort of a longer time span. paul: we have some hopeful people making noises about a second referendum but that doesn't guarantee a different result. i am visualizing a better campaign for issues let -- bitter campaign for issues like

national -- the mood of the electorate will become hard. christine: these issues is stand in the way of longer-term sustainable solution oriented discussions but i think a hard exit looks more -- that i think a hard exit looks more likely. paul: christine mcdaniel, senior researcher at mercator center. trade is top of mind as people gather in davos. kathleen hays has been speaking to the canadian trade minister about recent tensions with china and more broadly the wto and revamped tvp -- tpp. what did he have to say? kathleen: obviously this dispute overen china and canada china's arresting two canadian

citizens, sentencing a man who was already facing drug charges and the result -- it seems canada is facing retaliation for arresting the huawei ceo and china fighting back. last week a chinese official urging canada to stop using microphone diplomacy of mr. trudeau -- as mr. trudeau calls others around the world, and at any rate here is what jim carr had to say. >> we are going through a tough patch, but this is not a relationship that began yesterday. it goes back decades. it is sophisticated and multilayered. this is a tough moment because we are very concerned about the cheap canadians being -- about two canadians being detained.

we express that we think the rule of law was expressed by our judiciary and that the death penalty on a canadian citizen is unacceptable. he said it was not about politics, it was [indiscernible] that is how it must be decided. as for the world trade organization, canada is spearheading efforts to reforms that need to be made. u.s. approval -- refusal to appoint judges could be the whole dispute settlement system grinds to a halt. he said you must have the two biggest players, u.s. and china, involved to get something done. this is where they are starting. on the comprehensive and progressive transpacific partnership, he is confident it will be good for canada and all of the nations involved. if others are interested, the door is open. on brexit, the u.k. is canada's

biggest trading partner. they are ready to negotiate a new trade deal with the ok if and when this gets settled and if they leave the e.u. if brexit occurs. a wide-ranging and interesting discussion, got a lot on bloomberg.com if you want to look at it further. i'm speaking later today with a trade minister from new zealand who is also in tokyo for the tpp talks. ramy: kathleen hays there for us tokyo. bloomberg users can interact with the chart shown using gtv . you can browse charts featured on bloomberg tv, catch up on key analysis and save charts. this is bloomberg. ♪ s is bloomberg. ♪

ramy: welcome back. i am ramy inocencio. paul: i am paul allen. you are watching daybreak australia.

nintendo investors are starting to feel optimistic, despite slower than expected demand for the switch and a steep share slump last year. the imminent launch of a new game is raising confidence. rising sales in the last quarter have helped boost the stock 20% since december after a slump of 44% in 2018. --y: a searching bought is surging baht is helping thailand. it is rising 5% against the dollar. exports may have fallen for a second straight month in december after having been hit by the trade war. the congress ministry will release trade numbers monday. paul: the indian government has removed two executive director from the board of punjab national bank. billion frauda $2

last year. the finance ministry dismissed this without giving any reason for the move. last year they claimed a rogue employee provided guarantees -- which they used to obtain massive foreign loans. ramy: coming up on daybreak australia and daybreak asia, the goldman sachs global cohead of e.m. strategy -- he moved markets when he boosted his forecast. that is now 6.77 to the dollar. he is telling us where he is recommending his clients put their money in a little over 10 minutes per we will go over the trajectory of the u.s. dollar, the pound and more. almost it for daybreak australia. trading in new zealand underway. the anz is higher. just a couple minutes from the open in australia. futures are easing back, now pointing higher .5%. the aussie dollar around $.72 to

the u.s. that is it. we will have all the action in daybreak asia next. this is bloomberg. ♪

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paul: good morning, i am paul allen in sydney where australian markets have just opened. ramy: good evening from new york, i am ramy inocencio. julie: sophie: i am sophie sophie: kamaruddin -- sophie: i am sophie kamaruddin in hong kong. welcome to daybreak asia. ♪ our top stories this monday, asian-pacific markets await the latest gdp data from china and expected slowdown has already been priced in. theresa may will offer her brexit plan b. she says there is little chanc