daybreake to australia. i am paul and -- allen. we are counting down to asia's major market open. paul: here are the top stories we are covering in the next hour. wall street will bounce again. two day gains t is the most in months.

highs and lows from china for china's topes -- companies. >> let's get a quick check of the markets here on the wednesday session. we saw stocks rally with the dow gaining half a percent. there was more optimism over trade. bloomberg reported that -- ident trump secretary mnuchin said we were close to a deal with mexico and canada. carmakers gained the most on the s&p 500. financials were the only sectors that were pressured today. global economic doom forecasts out there. given the very weak data that we got out of china. disappointing retail sales and manufacturing numbers. that we saw another report

president trump has given the eu and japan six months on car imports to the u.s.. onre could be some pressure markets later on. at 2853.res changed upasian stocks are setting in the wake of more data showing that it global synchronized slowdown is looking likely. futures are climbing with two days to go before the national action. this will give japan and the eu a window. is -- we will get a japanese pbi growth after a pickup.

we'll get china's new-home price data and aussie jobs. malaysia is likely to report solar first quarter gdp growth. the indonesian central act is likely to keep its rate at 6%. they posted the biggest trade deficit since 2008. let's get the first word news. productionctory cells in april for the third time in four months. led by weakness in the scenery and autos. adding to signs of a slowdown. this was contracted by 5/10 of 1%. missing all estimate in a bloomberg survey, the report shows factories losing momentum as the trade war basis prices and complicates business decisions. biggesta posted its trade deficit in at least a decade.

the grouppressure on here. this gives policymakers more reason to put rates on hold. imports somewhat and 6%. $2.5put the deficit out billion. a new satellite image seems to show a saudi oil pumping station intact after claims it was attacked by armed drones. the image shows to black marks near the point where the cross-country pipeline passes the facility. the photo was taken on tuesday after yemeni rebels say they struck the plant. the attack caused a temporary shutdown of operations. the saudi's claimed two separate attacks on to oil tankers. how do i want 2700 journalists countries,s in 120

-- powered by more than 2700 journalists and analysts in over 120 countries. this is bloomberg. sources say the president does not want to further antagonize u.s. allies as he runs out his trade war with china. sean broke this story. there is more to that. there could be a conditionality when it comes to the amount of cars and car parts that come to the u.s.. what did you find? >> we reported that the trump administration has some caveats on that pause in tariffs. a is that it will order negotiation over the next 180 days with the aim of getting the eu and japan to limit their exports of autos to the united states. the is a flashback to 1980's for many in the trade world.

it is when the reagan organization was volunteering export restraints on japan. one of the key players was robert lighthizer. he was a deputy at the u.s. trade representative's office and is now donald trump's trade representative. likely to deflate the little bit of the good news we are expecting around auto tariffs. paul: the trump administration is nearing a deal to eliminate aluminum tariffs. do we see a north american trade do before a china deal? shawn: we have a north american trade deal. the trump administration renegotiated nafta. the u.s.-mexico-canada agreement is waiting to go to congress for ratification. what is holding that up is these steel and aluminum tariffs on

canada and mexico. a lot of republicans and democrats as well don't want to see that trade deal go anywhere near congress until those are taken care of. today, there were some expectations that we might get something soon. steve mnuchin told congress that they were getting near some resolution on this but we have not seen a deal there yet. traderth american agreement will stall a little longer. shery: president trump signing an executive order adding restrictions to chinese telecom farms. what exactly does this new order say? shawn: we have been waiting for this for about a year now. the president signed this today. it gives the department of commerce the power to scrutinize much more heavily, purchases of

telecommunications equipment. particularly 5g. is trump administration saying that is not aimed at any single country but we know the trump administration has been going around the world and urging allies, including australia to not buy 5g equipment from huawei. we know that canada and other allies have been embroiled in this. we are now waiting to go through the canadian courts on and as tradition request. it is not an unexpected development. it obviously comes at a time of escalating tensions between the u.s. and china that can't be good. paul: that was shawn. plenty of development on the trade front today. beijing has slammed washington's crackdown on chinese companies. they say it is not fair. tom mackenzie has more details.

this was in relation to the executive order we had just been discussing. the commerce department's took a bigger role. even if they did not in that executive order name quality -- huawei cte. they are concerned about this ongoing campaign that sean was outlining by the u.s. to limit and restrict the access into markets around the world. take a listen to the response from the chinese official. >> we urge the u.s. to stop cracking down on chinese companies on the pretext of security issues and to provide a fair, equitable and nondiscriminatory environment for chinese companies, and operations in the u.s.. the key claim by the u.s.

side in terms of their concerns role is and huawei's that the company could provide access to chinese spies and their foreign partners and allies. that is why they are pushing back the u.s. and demanding and pressuring allies to restrict -- access into the companies their countries. huawei said it is unlikely to have an impact. this banned government agencies from doing any business with huawei. that throws huawei out. they launched their own legal case on the back of that. the immediate impact is not to be big.

it is unlikely they could ever get back into the u.s. market. shery: we are getting the latest lines out of the u.s.. saying that if huawei's activities are a threat to u.s. security, this will require licenses to purchase huawei products. their activities are a threat to national security and would require licenses. we know that while it has been -- huawei has been selling telecom equipment. we'll see what kind of impact that has on them. the ceo remains under house arrest in canada. we got the latest treasury holding data as well. china's treasury holdings were down. what do we know? >> just before i get onto that,

they deny that it poses any security risk. they have fallen for the first time in four months. remain the largest foreign holder of u.s. treasuries with about $1.1 trillion worth. that number dropped by about 10 billion in the month of march. this is because of the ramp up in tariffs. as you rightly say, this has become a key focal point. the question is whether or not china looks to sell down its u.s. treasury as a weapon in his trade war. that this is aay very unlikely step for china because of the financial impacts. simply because it is such a liquid market. they were very few other places for china to invest or put its money. this will be noted but it may be more to do with china's attempts

to shore up the yuan rather than hitting back at the u.s.. certainly, a 10 billion drop in their treasury holdings will be noted by the markets. tom: tom mackenzie in beijing. thank you for joining us. still to come, taking the post of china possible biggest companies. we will break down alibaba and tencent's results. >> this is bloomberg. ♪

>> i am shery ahn in new york. tom: i am paul allen in sydney -- paul: i am paul allen in sydney. the s&p 500 today gain was the biggest in more than a month. .ue in part to president trump

su keenan joins us now. that news is coming after the bell. as good of news as we thought on deeper readings. su: the idea of kicking it down the road is something the markets seemed to embrace. thee were some realities in market that there would be changing headlines on the trade front. there was also some i speculate bad economic news -- unexpectedly bad economic is for the u.s. and china. the snapshot was we saw the media and entertainment sector of the most. .utures are mostly flat that is because we are seeing the tensions ease. as is the overarching headline. let's look at some of the big movers and what you see are various different stocks and

different stories. different gainers and losers. this put pressure on the stock. hoover -- lyft and uber both rebounded. the drivers for these auto sharing services are contractors, not employees. that alleviates investor concerns about who would pay their wages now that these drivers want more. some of the other stories, let's this. look at we have one more panel for you. we have cisco, that will influence the tiny -- friday tech trade. cisco coming in with some strong sales and profit forecast. a sign that corporations are continuing to spend on the computer networks amid optimism

that china and the u.s. will solve their trade conflict. it surged 21%. a big win for cisco. shery: let's talk about oil. it managed to pose gains. -- post gains. su: we did get a surge in the supply but we saw a decline in gasoline. let's look at the five-day charts for oil. you can see how oil has been on a pretty wild ride. this is the big picture. the fact that you do have oil fighting against this bearish data, seen as a positive for the commodity. let's talk more on the markets. joining us now is frank. great to have you with us. we saw some optimism over trade during the session, after the session closed we kept getting headlines on huawei. we have it that president trump

is expected to sign an executive order that limits the chinese telecom field in the u.s.. news storieseline enough to impact the rally that we soldier in the u.s.? is the china trade deal enough to host the market -- and boost the market? frank: we have been saying for some time that trade has really become a soap opera. it is ongoing, it never ends. we have had a change as tariffs have been threatened. it depends on the size of the deal. will there be something behind it? interesting is that

there are multiple stories going on. it is not just china, you have europe. your previous speaker spoke about it. you have mexico, canada. those stories are starting to bleed together. i don't think it is a coincidence that today trump says the auto tariffs that the 232 investigations we were looking at, we will delay that for six months. if you are threatening over $100 billion in tariffs with china, do you really want to compound that with large auto tariffs? you can see were all of the stories are starting to flow together. shery: doesn't make sense that we are seeing lower bond yields because of the concern over the global economy with chinese and u.s. data coming in weaker than expected? frank: certainly, if you look at some of the data, you look at isn's, the trend globally.

it is slowing. we put uncertainty around trade and what that can mean, that creates a drag. meetingsn their spring dedicated a whole chapter to their concerns about this. we are pleading for the big countries to work things out because there will be a global impact from a growth perspective. paul: what you make of this other story we have been covering? china's treasury holdings declining by 10.4 billion? what do you make of that decline? is it retaliation? is it china trying to shore up the yuan? frank: it is hard to take the one-month, it floats around. in february, china increased their holdings. the month-to-month data can be a little volatile.

i think your previous speaker mentioned this. i would agree with selling all of the u.s. treasuries being a very unlikely scenario. when you're in negotiations, you will leverage. this is something that gives china leverage. if you are a negotiator, you want to put that on the table as a threat. as the other sides are threatening tariffs. to me, it is part of the brinksmanship of the tariff war. paul: just to stick with your soap opera analogy, you can see protectionism around the world but maybe we will get good news later in the year. is the era of globalization not quite over yet? frank: you can see this new global trend of slower trend growth. especially in the developed economies.

countries are trying to hold onto the growth they have. it is easier to hide problems. whenan mask over things growth is good. you have a lot more tax revenue. when growth is slowing, you want to hold onto that. you're seeing this argument of trump trying to onshore jobs that have left. you are seeing a lot of these movements around the world that are reversing or at least owing this globalization trend you have seen for decades. that is something you have to be very concerned about going forward. it does affect growth and markets. it adds uncertainty and clearly, as we have seen, markets don't like uncertainty. shery: they do so much for your time, frank. he is the chief strategist for avon asset management. we are hearing from the ever

culture secretary. he has conducted productive conversations in his trip to japan and south korea. he said he expects a japan trade deal sooner rather than later. the farmo expediting aid package. president trump three affirmed that farmers want suffer because of the tariffs on agricultural goods. there hearing from agricultural had from perdue. ump is inspected to meet with prime minister shinzo abe as well. more to come on daybreak australia, this is bloomberg. ♪

paul: let's get a quick check of the latest business flash headlines. the u.s. aviation regulators are set to review boeing's software fix as soon as next week for the 737 max.

they say that it is absolutely safe to do so. china's biggest airlines make team up to seek compensation from boeing. they operate more than half of the 737 explains in the country. this is well below current trade levels. cut tesla's revenue forecast and delivery estimates across all models and lingering concerns about production output. shares have fallen almost a third this year. casting -- paul: forecasting more profit -- modest rebound. this is rising to $4.3 billion in the next financial year. of from 880 million. -- this was in a

survey compiled by bloomberg. shery: funds have picked up. we will have the latest filing. this is bloomberg. ♪

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paul: it is 8:30 a.m. thursday morning here in sydney. futures are currently pointing 2/10 of 1%,10 -- really. another positive day on the edge of potted -- positive news. .hery: i'm shery ahn you are watching "bloomberg daybreak: australia." let's get first word news with ed ludlow. a decision to avoid derailing trade talks by president trump. sources say he doesn't want to antagonize u.s. allies as he

focuses on his trade dispute with china. treasury secretary steven mnuchin says he has no immediate plans to fly to beijing for further talks. he added he is hopeful of a deal, but not confident. president trump has signed an executive order that could restrict chinese telcos from operating in the u.s. a national emergency overthrows this technology but doesn't specify companies or countries. campaign tolobal keep chinese tech out of 5g networks, urging allies not to use equipment made by companies zte.as huawei and huawei is shrugging off reports that the u.s. is restricting other companies from using its products. some governments and experts have misrepresented a technical issue of cyber security as a political issue, ideological

issue. if you label a country from a certain -- company from a certain country as not fit, that subjective, not objective. reporter: californian utility pg&e is now officially tied to the deadliest wildfire in state subjective, not objective. history. shares tumbled early in after hours trades and investigators said the equipment caused the devastating blaze. bankruptcy, with more than $30 billion in potential liability. global news 24 hours a day on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm ed ludlow. this is bloomberg. shery: thank you. several trade headlines, not to mention the u.s. move to require licenses to purchase huawei this is bloomberg. shery:products. let's see how all of this will affect asian trading. sophie is in hong kong. sophie: when it comes to stock gains, autos on the radar.

this is ahead of trump's state visit to japan later this month. nissan also in view on local reports it is mulling putting renault ceo on its board. paul: thank you very much for that. bond market moves notably large overnight, seeing a follow-through in moves locally for sovereigns as well. let's bring in our global markets editor adam haigh. isthis here to stay and what really driving it? reporter: we have had a couple of really important economic pieces of data, reinforcing the sense of fragility in the global economy. first we had chinese numbers yesterday and then we had u.s. retail sales numbers. used incremental demand picking up and sovereign bonds.

think --onds company continuing to grow lower. the gap has continued to widen. chart, we see on this are also hitting fresh lows onto your treasury yields and 10 year treasury yields. this is reigniting the debate about whether the fed cut is baked into prices at this point, whether the market is essentially telling us the fed is going to have to go by at least 25 basis points by the end of the year, or else there will have to be significant repricing in the bond markets. angst, plus arade couple pieces of key economic data are really putting the onus back on how fragile the global economy is, in a sense that this disconnect between a rallying equity market and rallying bond market can continue for too much longer. shery: let's talk about the equity rally part of things. we have seen a lack of

strategists participating in the surge. is there anything we can glean from this? think everyone is really kind of struggling to get a sense of where equities go from here. of course, the rally was very pronounced going into the start of last week and then we have this latest bout of trade escalations that has flared up and taken a little bit of the heat out of the market, but there are plenty of people still expecting equities to grind higher. the interesting thing about some of the big moves lately is it has reignited this debate abound -- around how links in strategies and equities will perform. if you continue to get sizable moves to the downside and s&p 500, will the volatility linked strategies and ctas start to feel the selling pressure and you start to get for selling in the market? that is really the question on investors' and traders' minds. the question is how much will billy risk -- how much will you

be risking? there's one estimate from the risk.at macro they estimate it could be up to $60 billion worth of equity selling in a matter of days if you continue to get a big fluctuation into prices during the day. the computer-based strategies versus the day traders that are still in the much capacity, still very a point at the moment as the trade angst continues to build and people suggest we are not out of the woods completely. with the g20 looming, but it is still weeks away. there could be a period of intense volatility. shery: thank you so much for that. bloomberg's global markets editor adam haigh. on the gind his charts

tv library on your bloomberg. the quarterly ritual known as 13f filings is here. hedge funds are required to disclose equity investments for the latest on the g tv library on your bloomberg. quarter. we have been pouring over the filings of the biggest and best. any new trends? what are the big take away its -- takeaways? >> warren buffett investing in amazon recently. what we now know is his position is worth $860 million. at the end of the first quarter, he praised jeff bezos and said he wished he had gotten in on the stock earlier. bets onsaid he's upping jp morgan and cutting in southwest airlines. another key takeaway, tiger global more than doubled its stake in facebook and holds about $1.5 billion of the stock. d1 capital, one of the biggest hedge last year, is also long on facebook. if we look at chinese stocks that were traded, asian stocks, jd.com was boyt -- bought by

viking. alibaba was also a mixed bag, but bought by others. on top of thecks, popular ones, what was less popular amongst hedge funds? ,> less popular, boeing maverick capital, viking, global, and sometimes d1 capital. number ofe has had a troubles including the 737 max 8 airline that is grounded. david einhorn continue to sell stake in gm. that company has been embattled for some time. shery: what about tech stocks? >> a bit of a mixed bag on faang . some of them had a bit of fatigue with that. they are fleeing microsoft, facebook, amazon. amazon,uced shares in

facebook, alibaba and netflix, but there still remain big stock holdings in the u.s. facebook is popular with tiger global and d1 capital. reduced stakes in adobe, amazon, and microsoft and alibaba. shery: tech is really interesting. firmed --mberg had hedge fund reporter hume up armor, thank you. tencent do appear to be holding up. this is in spite of growing trade tensions. however, there are concerns faked into those latest numbers that there is not so great news. stephen engle has been breaking them down in hong kong. what are the key takeaways? reporter: these are two of the companies in the best triumvirate and they are keep layers globally.

alibaba andou had the leader in e-commerce in china, and tencent reigning supreme in gaming and social media. however, as they are expanding businesses and user base, they are starting to mesh and crisscross into cloud computing, ai, and other areas including ch.te these companies are bitter rivals in many spaces. given the backdrop of the global trade war between china and the united states, consumer spending trends and the like. for the most part, the bottom-line for both companies, net income were good. however, there are revenue concerns at tencent. let's look at alibaba first. sales topping estimates in the quarter to march rose to $13.6 billion u.s.. nearly 2% above the estimate, adjusted earnings per share of

8.57 you want. -- yuan. arewell above expectations the key thing is the expectations for the current fiscal year. they expect sales to jump at least 33%. what they have really done domestically, they have overhauled their traditional search to include shopping recommendations based on user preferences. that boasts their ability to target advertising to merchants. the bottom-line's core e-commerce revenue rose 54%. customer management revenue rose 31%. cloud unit soared 76%. overall, a very good set of numbers for alibaba. shery: alibaba has been doing pretty well. if you take a look at this chart on the bloomberg and revenue compared to tencent, tencent has been trailing alibaba. tencent of course, the bar in blue. this time around, they really

didn't do that well. reporter: 2019 was a bit of a blip for tencent. they had a big drag because of the government moratoriums on new game issuances. that is the main profit driver, gaming. they are in social media. 6.9% --haplin form grew grew 6.9latform percent. gaming is a key driver and there was a moratorium, so it knocked things down. . the government is now green, lighting new game issuances so there's a bit of a silver lining. net income was better than expected. 17% rise. a lot of that however is one-off, 1.5 billion dollar gain from investments in overseas gaming companies and also finance, so that helped. however, many investors really zeroing in on the disappointing 16% rise in revenue, which was the slowest pace on record. 16% is not bad, but for tencent

that has been blowing revenue numbers out of the water for years, that was the slowest on record. analysts intelligence say there was an 11% sequential rise in mobile game sales, which bodes well for sustained recovery for the business in 2019. shery: stephen engle, thank you for the latest on alibaba and tencent. coming up, find out why amp capital investors nader naeimi says the perfect storm is brewing for stocks. this is bluebird. ♪ -- this is bloomberg. ♪

paul: i am of paul allen in sydney. shery: i'm shery and in new york. you are watching "bloomberg daybreak: australia." australia's unemployment rate is in focus two days out from a federal election and with the reserve bank looking at the labor markets. our australia reporter joins us. australia notoriously volatile,

but it could drive decisions on whether to cut interest rates. is that realistic? reporter: it's not. in a sense, just because the labor market is so volatile. as you say, the rba is focusing on the unemployment rate, which moves a little more slowly, unlike the jobs gained and jobs lost. forward-looking, so it's looking at forward-looking indicators. this week, there has been a real drop in the outlook for jobs in business surveys, which i think would have really worried the rba. areother thing is that we probably almost do a slowdown in the labor market because it has been so strong. it will be focused on jobs. that we just saw a chart sort of explains or illustrates some of the potential weaknesses in the australian labor market. underemployment is growing.

regardless, employment remaining strong. the labor market has defied some of the weakness seen and other indicators, but can that last? reporter: it's a good question the basic point is 5% that we are right now, somewhat close to full employment, but we have seen internationally that jobs, unemployment needs to go lower than it has in the past, much closer to 4% to generate wage growth. as i mentioned, the labor market has been so strong for so long that is probably is -- that it is probably do a slowdown. you never know. a lot of employment is being generated and government sector jobs that are impervious to what's going on, but there is a sense that a slowdown is coming. shery: and as i said earlier, a couple of days out from the election, so where do things stand for the party and what kind of economy will the next

government inherit? reporter: the prevailing view is that the opposition labor party is probably still on track to win. it has been a curious campaign in the sense that labor has gone for what you would call a big target strategy, putting out a lot of policy in advance and has opened itself up to scrutiny in ways opposition has not done in the past. and the government by contrast, which would normally use the benefit of incumbency, has adopted a small target. it's been about prime minister scott morrison, steady as she goes. been a bit curious on that front. in terms of the economy, whoever wins -- and the prevailing view is it will be labor -- they will inherit a fiscal situation. ironically, they just hit a record stretch of expansion internationally in australia. it had been 27 years. we are into the second quarter of that now. i think there's a slowdown across the board.

it will be a difficult situation. labor, every time they return to government, the economy is already bad or it is about to turn bad, so it's never lucky for them. but don't discount scott morrison. he has run a very difficult campaign in difficult circuit -- very good campaign in difficult circumstances. paul: thank you very much for joining us. as you were hearing, in australia, we do have an election coming up on saturday. those elections don't often move stop prices or significantly impact the business outlook. investors will be watching this closely. as australia's 28 year record growth is sputtering. our next guest is for complacent equities and he is adjusting his strategy accordingly. nader naeimi is amp capital's domestic head of markets. thank you for joining us.

we just laid out a fairly comprehensive laundry list of why might -- why things might be slowing down in australia, but the asx is up 11% year to date. why the discrepancy? >> you are right there. is a huge disconnect on the fundamental data unfolding in the market. a lot of the gains we have had since december are based on the u.s. fed doing a pivot. of a was a little bit pivot because of the policy mistake being reduced, but also china stimulating. market expectations were for a stimulus, same size as 2016. -- china had an effect on everything. 2016 and 2017 were great for the stock market.

the problem is, the chinese economy has not stimulated in the same way. you look at excess money growth in china, it is still negative. 2016, it was 15%. there it is a bit of complacency. paul: what about the aussie dollar as well? we can look at the bloomberg chart here, which does show the withe dollar is not really much of a floor underneath it at the moment. it does have a proxy for trade. >> it's quite interesting. are ore prices relatively strong. first we have rate differentials against the aussie. then we thought the commodity prices are strong, but now that is giving way as well. aussie dollar falling away. it looks like it's not heading $65.towards if there are worries around growth and equity are right, it is likely to slide. i should say they are all

already short in the aussie. the yuan, you don't see an acceleration in the shorts because the broad market's short. shery: of course, yesterday we saw asian stocks gaining ground on the expectation of more stimulus measures coming from china. this g tv chart on the bloomberg showing the latest retail sale industrial production and fixed asset investments with a disappointing forecast. do you expect policymakers to do more in china and would that help the market? >> now we are getting back to the environment when we had bad news is good news. when you have bad economics numbers, markets celebrate because there will be stimulus. i think if the markets say's -- they will come out with a grand stimulus plan. similarly they will

continue with a persistent little stimulus here and there. stimulus is the same size as 2015 and 2016. to really make a difference, we need to wait for the market conditions. shery: it's interesting to see president trump hitting the fed, saying it should match what the pboc is doing. how much has the pboc really done in the past year? all of these stimulus measures, whether they are tax credits -- tax cuts or infrastructure to be comingseems from the finance ministry. >> absolutely. a lot of what we have seen in china on the fiscal side is in monetary policy. we haven't seen much. when you look at money supply growth in china, it is actually not accelerating. in 2015 or 2016, it was accelerating. monetary and fiscal. whereas this time a lot of what we see is fiscal stimulus, and it's not grand. but you are right.

we have not seen much from pboc yet. amp capital investments head of dynamic markets, nader naeimi. thank you for been with us. we do have more ahead on "bloomberg daybreak: australia" so stay with us. this is bloomberg. ♪

shery: let's get a quick check of the latest business flash headlines. the size of warren buffett's bet on amazon has been revealed to be $860 million. berkshire hathaway has disclosed its holdings in the 13f regulatory filings. in the first three month of the year, berkshire ramped up bets on j.p. morgan chase and red hat, while paring investments in southwest airlines and wells fargo. oracle has resolved part of a workforce discrimination suit by agreeing to address claims it has under hired non-asian staff from college campuses. a filing side -- signed by a

senior department attorneysenios oracle must provide annual reports on the racial makeup and success rate of college recruits. paul: let's get you a quick check of what's happening on the markets here. new zealand of course the only markets open right now, currently pointing higher by about 1/10 of 1%. we also have futures for australia pointing higher by 2/10 of 1%. cost be futures a little weaker -- kospi futures a little weaker. futures in asia pointing to a much more cautious open than the u.s. nikkei futures, traded out of chicago, mostly higher. new zealand, i put you wrong before, it is now higher by one third of 1%. we are about one hour away from the open of markets in this part of the world. that's it from "bloomberg daybreak: australia."

all the action coming up in "bloomberg daybreak: asia" next. this is bloomberg. ♪

paul: good morning pray that i am paul allen in sydney, where we are under an hour away from trading and japan, china and korea. shery: i am shery ahn in new york. >> i'm sophie kamaruddin in hong kong. welcome to "daybreak: asia." paul: a tear trade-off, the