>> welcome to daybreak australia. i am shery ahn and bloomberg's world headquarters in new york. sophie: we are counting down to asia's major market open. haidi: these are the top stories we are covering. u.s. stocks fall to a one-week low as the latest results did little for confidence in the economy. health care led the declines. the u.s. and china are said to be scheduling new trade talks with top level -- it could happen in may.

victory in indonesia. a result should extend the six-month stock rally. shery: later in bloomberg technology we will look at why apple and google are blocking downloads of the popular tictoc app in india. for now let's get you started with a quick check of the markets close in the u.s. it was a broadly down day on wednesday. we had news of a potential trade deal between the u.s. and china. not even that could lift the indices into the green. we had the s&p 500 down .2% holding at the 2900 level it was all about health care. health, really falling again as there were concerns over policy changes in the future. the nasdaq composite was unchanged but the nasdaq 100 saw a record as we continue to see a surge in qualcomm shares after

that licensing deal with apple. let's see how we are shaping up in the markets in asia. sophie: asia and futures are pointing to a mixed start to the session ahead of the long easter weekend. kiwi stock on the back looking to snap a five day. alf by about .5%. -- off by about .5%. stabilizing growth on the mainland prompted analysts to raise the chinese growth forecast and there is the potential to add more stimulus. in sydney futures are nudging higher on the ever volatile job report. we will look at reduction updates. wednesday.% at kospi could be looking losses extending the client after snapping a 13 day rally. flipping the board on korean ahead asme declines traders have pulled back some

rate excitations after flirting with the prospect last month which push the previous year yield to a 21 month low and is now back above the policy rate. haidi: let's get you the first word news with su keenan in new york. su: we start with the u.s. and china. they are said to be scheduling two more rounds of trade talks with a possible signing ceremony in late may. sources say trade representative robert lighthizer and steven mnuchin plan to be in beijing april 29 with the chinese vice premier flying to washington the following week. trade talks between the world's two biggest economies, as we all know, have been going on for nine months. we will learn more about the molar report later with attorney general william barr planning a news conference thursday morning in washington. the almost 400 page report will

be scrutinized for any new disclosures and contacts between the 2016 trump campaign and russian operatives who allegedly interfered in the election. if theort may also show president planned to interfere in robert mueller's inquiry. the u.s. wants more evidence that north korea will give up nuclear weapons before a third summit between president trump and kim jong-un. national security advisor john bolton says washington needs to feel real indication that pyongyang is ready to move and told bloomberg that is not the case at the moment. pessimisticare more than recent comments from secretary of state mike pompeo. and thee, reconstruction of notre dame. the project has already attracted nearly $1 billion in donations and pledges. the immediate priority is to secure the vault which is open to the elements after the fire collapse.

tosident macron has promised rebuild the cathedral within five years, and the government will pass new laws next week to simplify tax breaks on construction procedures. 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. the indonesian president is set to claim a second term with unofficial counts showing him taking a significantly. his arrival is already disputing the result, claiming an internal exit poll showing he has more than 55% of the vote. our chief correspondent is covering the election in jakarta. feels like a replay of five years ago. what happens from here? >> from here it is about healing the country. we talked about how the country has been divided because of

religious issues. right now the priority is to get everybody together to be you -- to be united. that is the message he sent to the country when he spoke after the election during the vote count. he said he wants the country to come together and it is time for healing and time to grow the country. we talked about how he is leading in the quick count. just to give you an overview of where we are right now, about 95% of the quick count has been counted. counted. he is leading with a margin of about 10%.

up to a 16% lead. is aer you look at it it day for him to go on who with his reform agenda. for him and his running mate as well. through his exit poll he is % of the vote so far. this is a reflection of what happened at the last election as well. though he lost he claimed victory although he did say he has gone on to tell his supporters to stay calm./ there should be no violence. in the end we have to wait for the official results. shery: he took it to the courts and he was dismissed. his first term, we know it was all about the $350 billion infrastructure drive. what will be his priorities this

time around? haslinda: well, exactly that. the infrastructure drive. the train was launched weeks ago. this was a project that was talked about way back in the 1980's. he made it happen. we are seeing more roads construction -- constructed under his government. more highways being constructed. that will continue. beember that growth needs to increased from the current 5%. for that to happen we need infrastructure to be in place. the other priority is jobs. he did create 10 million jobs over the last four years. he wants to create 100 million jobs in the next five years. 40% of the electorate are

millennials looking for jobs. he has to create quality jobs. jobs which will put them in a position to face the challenges of the fourth industrial revolution. and of course he has to address the current account deficit. it stands at 3% of gdp. pretty high. that is why indonesia was sold off during the e.m. row six months ago. to adjust that he has to bring in more mpi. year,w it dropped 8% last the first decrease under his government. that needs to be addressed. that is what investors are looking at. shery: is it a shoe and when it comes to stock markets? they have been going gangbusters. that rally continues as we get more political certainty. haslinda: you are right. what we are getting as we speak to investors. some say we can expect the jpi

to set new records in the next few days or weeks. we are looking at perhaps 6900 or higher. inwe look at past elections, the six months following the elections the jpi has risen something like 22%. that has been the standard. even though there has been a run-up we can expect it to rally even more. given the infrastructure focus, you can expect construction stocks to do well, banking stocks to do well. banking in particular, banking stocks have been laggards. given that we have seen pretty much a stable policy from the bank, the central bank governor, that is pretty much good news for the banking sector. haslinda covering the elections in jakarta. we will be back with you throughout the course of the day. i had, -- ahead, production

predictions. aery: next, signs of potential u.s. china trade deal coming soon. we will bring you more from beijing. this is bloomberg. ♪

haidi: we are counting down to the start of trading here in sydney. we are about to embark on that easter long weekend holiday. sydney futures a little tepid. we had a tepid session in the u.s. overnight. mixed earnings. concerns over future trade talks as well. not a lot of momentum being seen at the moment. the bank of korea decision will be out later in the asian session. i am haidi stroud-watts here in sydney. shery: you're watching daybreak australia. we have been told senior u.s. and chinese officials are planning more trade talks in an

attempt to reach a deal by early med -- may. tom mackenzie joins us from beijing with the details. what is different this time from the many, many times we said in the past we were close to a deal? tom: so many times. it does seem like we are on the last legs of these negotiations. we have more of a timeframe it according toing -- our sources in the u.s. we are expecting steven mnuchin and robert lighthizer to be in beijing the week of april 29. the we are expecting chinese premier to fly to the u.s. the following week. after that we are expecting a deal to be announced when he is in washington. what we are then expecting to see is the two presidents will go to a signing ceremony somewhere, we do not know the location yet.

and they will sign off on this deal towards the end of may. that is the plan according to the sources in the u.s. some changese seen in progress particularly around the question of -- we heard this would be a two-way enforcement deal and it would be repercussions on both sides if they failed to live up to their commitment through this deal. that has gone a long way to calling the concerns here in china. there are still big question marks over the question of tariffs and to what extent they will be rolled back. of course we had reporting suggests in the u.s. has asked china to ship its retaliatory tariffs on to other goods so they can sell to u.s. farmers. yes, more details in the timeframe. it seems like we are getting closer to that and point. -- end point. haidi: data we had yesterday suggesting the chinese economy is stabilizing. industrial output was a sizable

outperform or. does that give them more leverage as they are going to this large stage of talks? tom: at the very least it blunts the argument from the u.s. side that the chinese are in this week position. -- weak position. there are all sorts of caveats around the data we have seen but certainly when we talk to economists, the consensus is we are getting to a point where stabilization looks to be settling in now for the chinese economy. the first quarter gdp number coming in higher. a tick up across all the three data points, resale sales, industrial production, and investments. it gives the chinese something of a stronger platform when they continue these negotiations. and we are also hearing that officials here are looking at additional stimulus measures, particularly to support the auto sector and electronics. you saw a tick up and the stocks.

600 auto parts index yesterday. volkswagen rallying around 2% on the back of the news. byd picking up strong and apple as well. additional stimulus measures could come into play. policymakers are drawing them up. certainly investors seem to be betting you are going to get more supportive measures going forward from the chinese policymakers. shery: tom mackenzie, thank you so much. now to discuss how a potential u.s. china trade deal, not to mention chinese economic recovery could affect global kevins, joining us is nicholson. great to have you with us. we saw the news on the potential trade deal in late may. it broke around the afternoon session in the u.s. and the stockmarkets barely reacted. has this trade theme been all played out by now? kevin: i think it has been. i think the trade has already been dealt and priced into the market at this juncture.

the only way you are going to see the trade -- you get a trade deal that really sends the higher -- market higher is as we get a blowback --if we get a rollback of tariffs. right now is you get a trade deal and tariffs remain unchanged. haidi: when it comes to chinese economic data the markets seem to be reacting more positively. this chart on the bloomberg showing from the moment we saw economic recovery in china, the s&p 500 really has gained ground. we are talking about retail sales, industrial production out of china. will this be the new catalyst for the market? kevin: it definitely will be the catalyst for the market i believe,. when you think about it, so many things are tied to china these days. from europe to japan to the u.s. even. china is the engine for global growth right now. so, i think that as china is -- china improves, you will see other places around the world

improve. and china is the place that is really driving emerging markets outperformance at this point. atdi: are there arguments this point that would potentially cause her stumble for a continued e.m. rally? kevin: the problem that you could potentially run into emerging markets rally is that you have too many central banks follow the fed's model and be very dovish. if they start using rates and the fed just stays put, like they said they are going to pause, it could down the road cause a problem because we could start getting the dollar to rise again. if the dollar starts appreciating again, that will put pressure on emerging markets. just for repaying their dollar-denominated debt. so, you really need to see, you know, the emerging-market currencies continue to at least hold their own, if not rally or appreciate. haidi: i want to get back to

your point about what all this means for europe and what potentially the weakness we are seeing in these former powerhouse engines of growth like germany could mean for the rest of the region and global growth. i want to throw out this chart taking a look at the latest revision downwards of gdp growth expected out of germany, cutting their 2019 and 2020 economic growth forecast. this year expected growth is just .5% down from 2% a year ago. things are looking dire, particularly since we don't have certainty of kicking the can down the road when it comes to brexit. kevin: right. when you think about germany in particular you are thinking about manufacturing, you are thinking about their exporting. and they export a lot of goods to china. so, that is why you really need china to turn around in order to see growth turnaround for the likes of germany and other places in the euro zone. concerned,rexit is

it is trick-or-treat. they have in october 31 deadline. -- an october 31 deadline. what we have been doing is we avoided the u.k. for that very reason because we have seen at this point, you are really going to be questioning the democratic process if they go back for a second reform. --best two out of three wins because parliament does not seem to be able to speak for the people and they cannot get to a resolution. haidi: let's hope on halloween we get more of a treat then another set of tricks. chief market strategist kevin nicholson joining us. always appreciate your time. you can get a roundup of the stories you need to know on the thursday edition of daybreak. it is also available on the mobile in the bloomberg anywhere app. you can customize your settings so you just get the news that you care about. this is bloomberg. ♪

bloombergs is technology global link. tops take a look at the global tech stories of the day. emily: two more tech unicorns are heading to the market. pinterest is expected to price its shares any minute. the wall street journal says it is targeting $19. video conference provides a -- conference provider zoom as well. investors are cheering a decision to hang up. means they lost their one significant customer.

intel will wind down there multibillion dollar bet on 5g. airbnb is leading a funding round for a small luxury rental apartment startup, the third investment in six weeks, as it beefs up its offering. it transforms premium apartments into studios with hotel quality cleaning services. it also offers round-the-clock support for business travelers looking for short-term visits or stays of up to 200 days. those of the global tech stories we are following. haidi: we are also watching this google and apple story. a court order blocking downloads of a popular app tictoc after a government voiced concerns about elected -- about illicit content. a closer look at the

implications. why does this matter and why do investors value this so highly? at $75 billion right now according to our reporting. it has been valued for a couple reasons. has taken off outside of its core market in china and away no one else has been able to do. is collidinging it with tighter regulations in countries like india and across asia that are cracking down on online content. similar concerns in vietnam and indonesia and singapore. contentcase the particularly is aimed at minors and tiktok is very popular teens and preteens. shery: the allegations against tiktok are disturbing. concerns about some children who are videotaped for the app, sexual predators, pornography.

is tiktok running into any regulatory issues elsewhere? >> they are run into a fair amount in their home country in china. -- itmpany is primarily considers itself an artificial intelligence company. unlike facebook and youtube and google they are much less willing to reply to government requests. but they are still very young. about six years old. tiktok in the last two years has exploded in popularity. a lot of the challenges they are forng our new -- are new the company and regulators. shery: i know you will continue to file this for us. -- folloow this for us. don't miss bloomberg technology, 7:00 a.m. in sydney and 5:00 a.m. in hong kong and 5:00 p.m. in new york. giantan australian metals releases production figures.

we will get expert advice from a senior commodity strategist. this is bloomberg. ♪ this is bloomberg. ♪

haidi: the market is open for what is our final trading day of the week. futures looking pretty tepid. u.s. stocks falling to a one-year week -- one week low. we had declines across oil and gold. a lackluster session as we potentially get into another round of china u.s. trade talks. i am haidi stroud-watts in sydney. shery: i am shery ahn in new york. you're watching daybreak australia. let's get the first word news with su keenan. su: hopes of allowing these boeing 737 max 8 jet back in

service has been hit by candidates decision to rebuff the faa and demand upgraded training for cockpit crew. the transport minister says the planes will remain grounded for quote, as long as it takes. boeing six inearn the simulator. the u.s. faa said there was no need for training after a review from pilots and industry experts. joko looks on -- course for a second term with unofficial polls pointing to a victory, extending a rally and he saw -- stock market. companiesinstruction look to gain the most. the jakarta composite has rallied 10% in the last six months.

the boss of foxconn as confirmed he will run for the presidency in taiwan. he said he will seek the nomination of the china-friendly in the election next year. he is aiming to unseat the current president. the chinese sea goddess encouraged him to run. the trump administration halted the recent government practice of disclosing the size of the nuclear weapons stockpile. president obama declassified for the first time the full history of u.s. weapons dating back to 1945. the current administration gave warhead numbers as recently as last year. however, the energy department now says it cannot disclose any more information. 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. let's head straight to hong kong with what to watch in the markets. sophie: we have a raft of production updates from australia. also want to highlight great core which is on the radar. it has experienced a disruption due to the impacts of international trade tensions and deterioration is seen at about 40 million australian dollars expected. we have other production updates. sapphire on the radar. it boosted its copper outlook forecast for the full year. uptick for the third quarter. they said it is to formally close due to prevailing market sentiment and current weakness for lithium chemicals although they say they will continue talks with shortlisted parties. also watching alumina.

blamed a weakness in china as recent forecast for demand did not meet the outlook. gettinge are just production numbers out. also waiting on these. the last of australia's big iron ore producers to report. they do make another key ingredient. metallurgical coal. for the quarter. one main disappointment, aluminum production was down about 1.6%. 242,000 tons. we thought we would have them by now. we expect something similar to what we saw.

throughcyclone swept during that quarter. so we are expecting to see maybe a little less production. ony took a beating wednesday. shares down 7.2%. the biggest full day drop in two years. we will continue to wait for those numbers. expecting to take a similar picture from the other major iron ore players. let's get some views. start with the point paul was making. this rally was sustained longer than people expected. from supply coming through. take a look at this chart taking a broader picture of how much we have seen iron ore price rally. is there a fundamental reason to believe these gains will continue?

daniel: absolutely. obviously the news that we have at least one major mine potentially restarting in brazil is a boost to consumers obviously. steel mills in china. when you look at the broader picture there are still quite significant losses to be had. obviously the news from rio earlier this week just magnified the tightness in the market. so, there will be this natural reaction i think over the next few days regarding this reopening of this brazilian mine. from our perspective we had already had those numbers baked in for a restart in the second quarter. i think the market is probably just reacting to that initial news. broadly speaking the market is still extremely tight. haidi: demand side is also starting to look really interesting. we are on track for annual

output looking like it will hit a record. looks like there'll be more potential fiscal stimulus coming through. is that all going well for demand particularly when it comes to iron ore, steel and copper? daniel: absolutely. the whole macro environment is shifting. there has been concern this year regarding the outlook which was magnified with the u.s. and china trade conflict. there are reports of that coming to some sort of closure. so the market is starting to really look at what the actual data is suggesting. yeah, the chinese numbers yesterday were very promising. we had been expecting that fiscal stimulus policy measures to come through at this point. they have a. do that.od for commodities in general it should provide a strong backdrop

and a very strong level to rally off of over the next six months. to youro you are -- point on trade tensions, chile, the largest copper producer in the world. he had this to say about the copper market. >> copper prices are getting close to three dollars. $2.90.e over it will depend more than anything else on a peaceful and rational resolution of the trade conflict between the u.s. and china and that will have a very significant impact. that will be an important boost for the world economy i think. shery: how are the global stockpiles right now? daniel: there has certainly been some movement just recently. we have seen a significant warehouses aluminum in particular. over 12 months they are still relatively low.

broadly speaking we are not searing or hearing of any buildup through the entire supply chain through the consumers. we start to see this pickup in demand not only are you going to get consumers restocking but beyond i suppose what would normally be just in time levels. we would expect to see demand growth for copper in general actually exceed growth levels we are seeing in the economic data. oil pricesre seeing after the 30% rally this year. was due toaying this concerns about narrowing asian refining margins. how does this story have to do with that and how much is it just about the supply side of things? the margin side has its part to play.

i do think the rally is really forcing investors to rethink what opec will do in the upcoming meeting they have. certainly all the noise and all the talk has been about production being extended. certainly with prices pushing into the 70's for brent, there are questions being asked about whether opec wants to push this market too far like it has in the past. and obviously dented demand. it is a fine line they have to walk, but those questions are being raised. that is why we are seeing a pause in the market at the moment. haidi: aluminum demand is one of the stories. is that something you will expect is continue? daniel: absolutely. i think there are specific issues within the aluminum markets, particularly the auto sector, which has been weak

globally. there were signs that we will see improvement. china will target the auto sector with some new policies. so hopefully that encourages extra demand. in general it should mirror what we are seeing globally in that pickup and economic growth. i am not too bearish. haidi: what are your assumptions on u.s. dollar growth? daniel: that is a tough one. certainly been an interesting point recently where we saw mixed data come through in the u.s. we have the view that the appreciation in the dollar is on its last legs. i think for the next quarter or two we essentially expect it to remain flat. then starting to depreciate a little, i suppose, as the rest of the global economy catches up. and obviously the u.s. starts to roll over.

be that i do not think will as big a headwind for commodity markets. haidi: always great to have you on. senior commodity strategist daniel hines here in sydney. 400% shares in mustang after a breakthrough genetic therapy hewers a so-called bubble boy syndrome. this is bloomberg. ♪ his is bloomberg. ♪

haidi: i'm haidi stroud-watts in sydney. shery: i'm shery ahn in new york. it was another down day for health care providers, which dragged louis -- u.s. stocks lower. we also saw ibm weigh on the market. su keenan joins us with a quick recap of the trading action as well as after-hours. su: let's talk about health care, which really weighed on the market as a whole. many strategists will say it is

another case of an overcrowded area being unwound. let's look at the way the market ended. a goodh love cannot be thing sometimes. take a look at the market. bonds did not move much. the big decline or, down 3%. nasdaq 100, not seeing a big move. but it was a record close. let's take a look at the big movers. we mentioned health care, six of the 11 s&p 500 sectors ended higher. qualcomm having a monster two day rally where it was up 40% over that time because of the deal with apple. ibm is a big weight on the market. a real disappointment. that offset somewhat morgan stanley's positive results. we go into the bloomberg,

financials setting up for a bounce. 500.inancials to the s&p we are seeing this line bounce back up. let's really go after hours when we talk about bounce. because the bubble boy gene therapy medical breakthrough for a company called mustang bio is grabbing the headlines. it is up 390%. i do not know if we have a chart we can go to. initially it was up close to 400%. 220% gain. report they will get more on that. it really is putting everything out to the wayside. that is a major story. shery: let's get straight to that experimental gene therapy which has cured eight with the so-called bubble boy disease, the immune deficiency named for the total isolation of children.

joining us as rick schein who worked on the story. what was the big breakthrough today? today was st. jude's children's research hospital came out with news that they were able to actually cure because the disease almost always affects boys, of this terrible immunodeficiency condition. it was really made famous way back in the 1970's when there was the famous bubble boy case, where this poor kid actually spent the 12 years he was able to live in a plastic bubble, literally. now they have come up with a cure for that condition, which is extraordinary. haidi: what do we know about mustang bio? many mustang bio is one of small biotech companies that are making a bet on gene therapy.

gene therapy is a field that, as we know, is having amazing leaps and bounds into the future with what they are able to do. licensed the technology from st. jude's. so, they are making a really big technology will get fda approval. that. tell us about the prospects for fda approval. rick: it is still fairly early eightame, and the children who have enjoyed this cure, mustangs bio is continuing research. but they are confident based on what st. jude's has accomplished that the fda will approve the

treatment. it is interesting. i am wondering about the applications for competitors, because that is such a drawn out and competitive environment when it comes to being first to market with these effective drugs. one had just been approved for the u.k.'s most expensive drug to treat the same condition just last month. does this really bad news for competitors? rick: i do not think this is bad news for competitors. i think that it is certainly good news for patients. i think any time that there is something this positive on the horizon, it is a matter for celebration. this technology was tried 20 years ago by a couple of companies. not this technology, but a similar technology, in italy and france.

and it was able to work. years,that within a few these children who had the treatment developed leukemia. now with this treatment, that problem seems to have been gone. shery: thank you so much, rick. of course you can watch him live and see our past interviews on tv . you can also dive into any of the securities or bloomberg functions we talk about. and become part of the conversation by sending us instant messages during our shows. tv . this is bloomberg. ♪

shery: i'm shery ahn in new york. haidi: i'm haidi stroud-watts in sydney. let's get you a quick check of the latest business flash headlines. jp morgan swapping responsibilities with two top female executives in an effort

to prepare -- the cfo will become the head of consumer lending. the changes will take effect may 1. the reshuffle is seen as a bid to give both women the opportunity to bolster fields they potentially need to lead the whole country -- company. shery: the u.s. communications regulator wants china mobile barred from american markets, potentially opening a new front. the sec wants to deny china mobile usa on national security grounds, describing the company as a delaware-registered subsidiary indirectly controlled by the chinese government. china mobile says it is not required to comply with chinese government requests. haidi: germany is dismissing washington's threat to sever information ties with a dozen -- with huawei. we are told the intelligence community in berlin thinks they rely on each other too much to jeopardize the sharing of data

and the warnings are simply grandstanding. chancellor merkel said germany would define security standards for itself. shery: bloomberg has told amazon it is preparing to close its chinese online store that caters to mainland consumers, although it's other chinese operations will not be affected. amazon struggled to win customers from alibaba even asked are investing in warehouses, data centers and acquiring chinese online booksellers. the pullback is seen as a sign amazon is shifting focus to growth in india. reserve released -- reiterating they see growth in a slight to moderate pace. let's dig in with that now. what were your key takeaways of the report this time? >> this was an incremental improvement. the economy grew at a slight to moderate pace in march and early

april and several districts strengthened economic activity like housing sales and manufacturing conditions. was ad was saying there slow and softness we saw at the start of the we are -- year and they are just going to be temporary. they are seeing some reinforcement in their view that the economy may be taking up a little. it is not a huge growth. just like to moderate, as they said in the report. --thing in the base haidi: were there any significant differences compared to last month? shelly: it is similar to a wait and see approach for the fed. indicating that the economy and inflation is rising high. the labor market is still tight. unemployment at a nearly 50 year low.

and companies are still siding that they are having trouble finding workers. there are modest wage gains but not a lot. nothing to spur inflation. fed's does that mean the decision and future policymaking could stay as it is? just pause for longer? shelly: just wait until the summer months, see how the economy plays out and then make further decisions. seems like from the anecdotal evidence we have gathered, there is nothing that would indicate they would take away from their pause. seems like they will stay with their no rate hikes. haidi: then what is the deal with the labor market? shelly: it is still really tight. unemployment is really low. unemployment is growing, especially for highly skilled workers. companies are trying to find skilled workers and they are having a harder time. we are still not seeing big wage

gains. maybe companies are going to boost benefits, or they are going to give higher bonuses. but they are just modest wage gains. shery: thank you so much for that. plenty more still ahead in the next hour. we will get reaction to indonesia's election results when we are joined by the ceo of a corporation. haidi: trading in new zealand is underway. about one hour out from the open in australia. let's get you a quick update on how we are tracking. to bit of weakness when it comes to the limited markets that are trading. kiwi dollar at 67.26. sydney futures are looking pretty flat at this point. aussie dollar holding at 7174. jobs labor market untapped

today. this is bloomberg. ♪

haidi: good morning. we are under an hour delay from the australian market open. sophie: and i am sophie kamaruddin and hong kong. welcome to "daybreak: asia." -- in hong kong. welcome to "daybreak: asia." haidi: our top story this thursday, falling to a one-week low as they do little for confidence. health care is leading the decline. possibly