paul: good morning. i'm paul allen and sydney. we are under a market -- we are under an hour away from market open in japan and south korea. sophie: welcome to "daybreak asia." ♪ paul: our top stories this thursday -- no change at the fed. rates remain on hold as expected. jay powell indicates little chance of a move in the coming year. sterling will be in the spotlight is the u.k. heads to the polls.

source -- sores -- soars. australian markets have just open for trade. let's turn to sophie for what to watch. sophie: it's hitting the snooze button with markets little changed to the downside. aussie dollar just retreating a touch. we are also keeping an eye on what is happening with the u.k. election taking place thursday and india very much focused as we get health checks on the economy. we are also waiting on japanese machine orders. we have singapore on the docket

as well. paul: thanks very much. let's check in on first word news with ritika gupta. ritika: the u.k. vote later thursday in an election that will define its relationship with the eu for years to come. brexit has been the central issue in the campaign with prime minister boris johnson insisting the contingency board will only happen quickly if the conservatives turn a strong victory. uncertainty surrounding brexit has led to eu leaders hoping for a johnson win so the negotiations can come to an end. we will have special extended coverage of the u.k. elections as the results roll in. saudi aramco sword on debut, rising 10% and taking it market valuation to almost one point $9 trillion -- saudi aramco soared.

atting the kingdom's goal of $2 trillion valuation in reach. it is a critical part of a plan to wean saudi arabia off fossil fuels. the hong kong strengthened the most in four months on fears of a liquidity crunch. traders speculating the climb may tighten as banks conserve funds for regulatory checks, although there was no clear evidence from the interbank market. the number of people killed in the volcanic eruption in new zealand has risen to 16 after two more victims died in hospital the island continues to vent steam and smoke and rescue teams are still unable to recover the bodies of those unaccounted for. tremors are intensifying, increasing the risk of another eruption in the coming hours.

global news 24 hours a day on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. i'm ritika gupta. this is bloomberg. shery: thank you. the federal reserve circled its policy wagons and the strongest consensus of the past year to not only pause after three consecutive rate cuts but to signal the key rate to stay where it is for the coming 12 months. with global economics, policy editor kathleen hays is here. we have seen a very divided committee, but not this time around. kathleen: absolutely. the first time there was no dissent this time of year, but importantly, we know jay powell had sent out signals that even the outliers, even jim bullard on the dovish side conceding that the fed might need to pause. jay powell made it clear the fed at this point after three rate

cuts in a row thinks it has done enough. take a listen. mr. powell: with our decisions through the course of the next year, we believe monetary policy is well positioned to serve the people by serving continued economic growth, strong job market, and inflation near our 2% goal. have it. there you jay powell, of course, was asked , the trade war was such a big deal, one of the things that drove those preemptive rate cuts. he said we did have that in the statement, focusing on global development. of course, they are also focused on the development that -- focus on the fact that inflation is low. the fed seems to be looking toward not the domestic economy, but as a former fed official told us earlier, he, like the fed, believes there's a strong consumer in the u.s. if you want to get a rate hike, inflation is going to have to suddenly soar and go well above 2% and stay there, which it has not done in many years.

let's look at this stuff now and take a look. left-hand side, after cutting rates three times, even people not looking for that third rate cut this year, obviously said we are going to and 18, so that is what they did. 13 dots along the bottom suggested that in 2020, that is what that represents. the rate will stay as it is. i phones he members looking for maybe a rate hike this year. fed official members are quick to stress, we are not pledging what we will do, but here is what i think the economy is going to do. this is what i think we are going to do on rates if the economy forms like this. we don't get hung up on the dots . we get ready to move when we have to.

paul: 4 fomc members potentially seeing a rate increase on the market. does that mean maybe they think inflation will have a pulse in 2020? >> that's a good point. they think unemployment is so low, we are seeing wages start to rise. gradually inflation is going to follow along, and maybe it will. it's just that will be so surprising if it does. but i think on the other of that coin, you have people like neel kashkari, president of the minneapolis fed, who is going to become a voter in 2020. he certainly has been one to say he does not want to hike rates and still -- until he sees evidence it will not hurt unemployment. esther george, a well-known hawk, president of the kansas city fed, maybe she is looking for the rate hikes, but again, fed officials are due to independent. i think it's going to take a stronger economy, more consumer

spending, or inflation starting to show some life it has not shown in a long time. shery: kathleen, thank you. on the back of that fomc decision, we saw bonds rising, the dollar falling with the fed sending that steady as she goes message. su keenan is here with the details. investors took this as more of a dovish hold. sayyes, other strategists it does support that risk assets will probably be in favor here. if you take a look at the way the sox index, for instance, moved, it reflects it was on the far right, the highest level of the day right after the fed decision. there had also been a strong report out on equipment for chip-related stocks that would benefit, so that is an example, but generally, we saw the closing numbers pretty close to unchanged.

let's take a look at the big movers and what you will notice is that they are big indeed. children's pace is a reaction. earnings, which were disappointing, this is a company that deals both in children's clothing and toys. gamestop, the online videogame maker, disappointing after the bell and that followed through on the regular session. and xp, a very strong trading debut for a broker company out of brazil. let's take a look after hours. lululemon disappointing. this is the yoga pants maker that had its highs and lows. it met expectations, but it's outlook indicates to some analysts that perhaps demand is lessening quickly because the panic index -- don't panic -- is on the rise. the skew index moving up as the vic's retreats. a lot of charts combining, but the take away message is that many investors are shorting the

vix. that means their bets that perhaps the market will move removed, anding that could mean stocks do not know higher from here. it could also mean we are seeing a lot of money managers close everything in as we have two weeks to go to the end of the year. they want to lock in those good returns and not take any chances. paul: let's talk about commodities. seems to be bearish supply and demand data rather than the fed driving trading. what's the latest on u.s. inventory? su: this was the weekly inventory data from the u.s. government, and it was bearish. the nymex oil futures, you will see while they are up for the week, they were definitely down in the latest session, spiking down in the afternoon after the fed decision as well. with interesting to note on the big picture is that we saw u.s. crude supplies had fallen and we

also saw -- i should say gasoline supplies rise the most, so that is sending a conflicting message that really does give pause to a lot of oil bulls who have done well for the year so far but are concerned about the outlook, particularly with questions for trade. two after hours headlines, the ceo and founder of continental resources stepping down as ceo, moving to executive chairman on the board. make huge headlines a couple of years ago in a , butbillion-dollar divorce he has been a pioneer in the shale industry, so that is getting a lot of attention and after hours. still ahead, ecb ,resident christine lagarde chairs meeting later today.

we assess signs of a policy shakeup. : and our exclusive interview with the head of the 20 exchange later on this hour. ♪

shery: this is "daybreak asia." i'm shery ahn in new york. paul: let's get a latest check of the business let headlines. wework is selling off assets as it seeks to raise cash and streamline its operation. we are told it seeks to offload technology from managed by your q.e -- managed by the group of interested investors is said to include the q shery: co-founder. wework's biggest rival in china has applied to list with an ipo on the new york stock exchange under the symbol u.k.

people close to the move say the share sale could raise about $100 million. it now operates more than 200 co-worker spaces and 44 cities, including hong kong, singapore, and new york. paul: an indonesian ride-hailer aid to be close to buying mobile point-of-sale company for close to $2 million, part of their plan to become a leading player in digital payments. they helped restaurants, cafes, and retail assets -- retail .utlets manage payments shery: let's turn back to sophie for what to watch in markets. what are the big movers? sophie: we are seeing linus jump on a report that the u.s. army plans to fund the construction of rare earth weapons.

minors were asked for a proposal to be submitted by december 16 and response reportedly expected . moving to the downside, shares are under pressure, the stock slipping this morning, down by less than .1% and set for a seven straight weekly decline as the bank faces the ire of shareholders. the chairman apologized for allegations saying the board is deeply distressed by claims, so we will be waiting for updates. jeffries expects the bank will settle for about one billion australian dollars. west bank's chairman said the board has begun the search for new directors. paul: thanks, sophie. let's bring in our finance reporter for more. a lot of damage control ahead of this agm today, but will it be enough? >> that's the key question. we won't get the results vote until later today.

renumerationthe corner, traditionally the outlook -- outlet for shareholder discontent. westpac already had a vote against its report then. under australian law, if it gets a second vote today, that is what is known as a two-strike rule on if the entire board should seek to be reelected. chance it might see the second vote against the renumeration report, the big institutional shareholders such as the really powerful australian pension fund who have said they will support the board. they think they have seen enough instability and there is hope they can start to stabilize. paul: there are still a few directors on the board, though they might be at risk, particularly the head of compliance, who is still there. who else might not have a job by

the end of today? emily: the director most at risk is at the head of the audit committee, and he is facing some substantial problems. powerful proxy buyers and institution shareholders are split on if he should be retained for his banking experience, which could be useful, or if as someone who has been on the board a number of years now -- roughly since 2013 take more responsibility for the failures westpac has said it will not contest a large number of these allegations. this latestbefore scandal, we had seen the bank really suffer, see a painful year. we had seen their first profit drop in a decade or so. what are we expecting in terms of is in us? emily: it's going to be a rough

year ahead, and even before the scandal here. we can expect very substantial settlements. but ith, we do not know, settled its allegations of money laundering for $700 million, than the biggest corporate fine and australian history, though that is sort of hard to see the regulators settling for less. obviously, loads of compliance rates and with interest low, its margins are being squeezed. it's going to be a difficult year, and a straily and shareholders are going to have to get used to lower profits and they have become accustomed to. paul: in terms of the fine they could expect to pay or the settlement, the figure of $1 billion has been kicked around, how well-placed is westbank to absorb that, and what is the implication for the share price in 2020?

emily: one thing is westpac is still an incredibly profitable bank, and that is not going to change, but where it has enough capital to pay any settlement -- again, we do not know how much, but that is sort of the number that is going around, without raising more capital is a live question. analysts have different views on this, but it is intentionally time for them to pay that and also increase regulatory capital that both the new zealand authorities and australian authorities have been asking for . they have the revenue-generating capacities to do it, but things might be tight. paul: thanks for keeping an eye westpac agm. we believe that there, but bloomberg subscribers can continue watching that agm at live go and we will also find diary entries later on today as well as later this week.

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paul: this is "daybreak asia." i'm paul allen in sydney. boeing's grounded 737 max will not return to service before the end of the year with aviation regulators saying approval to fly is not imminent. two fatal crashes are linked to the plane's faulty altitude sensor. boeing had been helping the faa would approve software updates before the end of the year, allowing the max back into the skies. return to max's service it will be because the safety issues have been addressed and pilots have received all the training they need to safely operate the aircraft. this process is not guided by a calendar or schedule. bloomberg aviation

reporter justin buckman -- justine bachmann joins us from dallas. what were the key highlights? today was annk interesting day for boeing and the max. a much more serious sort of information gathering process than the last time the issue came up when you had the boeing ceo there. it was a bit more of a spectacle. today seems to be a bit more on data and information, and the highlights today were really that dixon was emphasizing there time be no schedule or constraints or pressures on when the airplane returns, and it's going to be next year, which is contrary to what boeing has been saying for months, telling customers that they expected that the changes they made in the airplane would be certified end,ars and -- by year's and that is not happening now. that was one of the highlights.

another issue that came up was when there were reports about the faa doing risk assessments after the first crash in 2018 in indonesia and found that this aircraft would -- there could be 15 similar crashes over the lifespan of this airplane without a fix to the system, and yet, the agency still did not ground it. that was the highlight today that came out from congress. paul: once the plane does return to service, whenever that might be, how much of a reputational hurdle does boeing have to clear prove tot still has to consumers that it's ragged -- ready to fly. quickset is the point they are selling tickets and telling everybody your scheduled to be on a 737 max and they need to deal with the part of the public that is uncomfortable doing that. that is definitely something

that comes up next year when montheturns, whatever that may be, that's going to be a huge issue for the airlines. the other factor potentially delaying the return is that there would be some pilot changes coming with the process, and it's not clear exactly where the faa stands on that and how much needs to be done to get pilots ready to fly, so even if the agency were to say that the airplane is safe, you have the added component of getting pilots trained under the new regime and protocols so that could also add delays. it could be many, many more months before anybody actually flies on the airplane again. paul: in terms of the pilot, the -- have the pilots unions had much of input and

what's being said? >> i have. they had new software to get their feedback on the interfaith -- interface with the new software and how they respond to different scenarios put into the flight simulator. thatr, we've heard that process has gone well, that the any pilots have not had major difficulties, that things are progressing, but again, that is just, you know, at the level of a 737 pilot who knows how to fly the airplane. you have not gone through the regulatory process and all those things the faa brings to that. i think it is a step in the process, but it's just one part of it, and there is more to be done before anybody ever gets on an airplane again. shery: thank you so much, the latest on the boeing 737 max and when they could be returning and resume flight. plenty more to come on "daybreak asia."

this is bloomberg. ♪

>> looking ahead, we will be monitoring the effects of recent policy actions along with other information bearing on the outlook as we assess the appropriate path of the target means for the federal funds rate. of course, the material reassessment of our outlook, we will respond accordingly. policy is not preset. >> the dollar took a hit, the bloomberg gauge erasing 2019's gains after the biggest drop for the greenback since october, taking the dollar further below its 200-day moving average. that's the line in yellow on this chart.

this asset dollar negative bias is reinforced. quick check on where we are in the session. a look at the aussie share market with the asx 200 already trading for about a half-hour now. the sydney share market off about .2%. while we are seeing the aussie dollar lose some ground after climbing on the back of a rally in metals as well as weaker dollar, giving up some of the gains we saw. over in wellington, we are seeing stocks climb, the s&p off about .1%. shery: thank you. let's turn to ritika gupta for first word headlines. lagarde hostsine her first ecb policy meeting later. markets see about a 30% chance

of a rate cut by september, although lagarde has given little away since taking office five weeks ago. central bankers have increasingly little room to move amid a slowing economy and the increasing threat of brexit. neither prime minister intimate netanyahu nor opposition leader benny gantz has been able to strike necessary coalition deals after neither of their parties was able to secure a parliamentary majority -- neither prime minister benjamin netanyahu nor opposition leader benny gantz. kyimar leader aung san suu genocide allegations against the country's military. is said the situation complicated and not easily fathomed. she attributed the exodus of her

toge a -- of rohingya ongoing cultural upset. weinstein's bail has been doubled. "the new york times" says the settlement will not require weinstein to admit wrongdoing or pay anything personally. he still faces criminal charges but has denied allegations of sexual abuse. global news 24 hours a day on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 100 20 countries. i'm ritika gupta. this is bloomberg. paul: oil holding steady after coming under fresh pressure in the previous session. datafollows government fuel increase.

we have seen pretty decent rises. given u.s. inventories, will that be sustainable? >> the data you just referred to thatreminder to the market it is pretty well supplied. supplies have been consistently strong. it's very much dependent on the .ompliance of state the countries have not always delivered what they committed to in terms of supply cuts. in terms of what we just talked about, the u.s. is pretty well supplied, so that supply/manned dynamic is very much a tight one and one that probably will put cap on prices going forward. compliance?about russia did agree to make deeper cuts, but can we trust these

countries to really adhere to those promises that they've made? >> it's an open question, clearly, although i think the saudi arabians who are obviously the leading force, will be hoping for better compliance, at least from russia. they made a big concession to pressure by allowing them to not light condensate, as the market refers to as part of their production, so taking that out, russia should have more scope to comply. russia has been one that has been accused of not going the full mile in terms of those production cuts, so it will certainly be a lot of focus on its production levels early in the new year to see if it does comply. again, mentioning the lights of iraq and nigeria, they have been laggards. it will be interesting to see how the data stacks up.

>> very strong showing for the ipo. it took the valuation up to $1.88 trillion, i believe. that number which they have always targeted is very much insight, and if you look at arkin dynamic's, there's nothing to stop it going up from here. the market is backed predominantly by investors who have been given quite nice incentives to back this and there's also a lot -- a certain amount of lock-in, that means they will not be rushing to

sell, and you have the fact that aramco has now been included in emerging market equity global market equity index, so we will see some funds step in and buy it as well, so in terms of that supply/demand dynamic for the stock, there is potential for more upside from here. thank you. our energy reported joining us from sydney. staying on aramco, handling a listing of such size and value is a first for saudi arabia's stock exchange. >> it will offer a state of opening and i think today with the size, with the number of orders expected from aramco's investors, the market has been connected smoothly.

we have done all the required testing before we come out and say we are confident we can deliver, and this is what i think we have proven today. >> obviously, a powerful rationale will be to try to bring investors into the exchange. what role do you think aramco will have now, particularly attracting more foreign investments? >> basically, there are two factors of attracting foreign investors. of ecosystem of the economy saudi arabia as well as the attractiveness of the market. you have the supply, the demand of investors by good companies, and i think adding aramco today with the performance of aramco with the demand of aramco, with the equity or the fixed income, i think this is what we aim to

do as an exchange. a more successful goods case company to the exchange will definitely bring more investment in general, but of internationale investor, which is something we , educating them about the saudi market, and i think aramco listings have accelerated our market process big-time. paul: still to come, the u.k. prepares for an historic vote as the gap between the tories and appears to narrow is the leaders stage their final push. that's next on bloomberg. ♪

>> was the central estimate is a consensus majority of around 28, at this stage, we do not feel like we can order hong kong. you either end up with a boris johnson government that delivers brexit and can then invest in our economy, in our public services, or jeremy corbyn -- hung parliament. >> they usually mark labour significantly down, but now is saying we are most in the margins of error of almost a hung parliament. i think we have a good chance of forming a small labour majority. >> a hung parliament is definitely a possibility. boris johnson did not have many people to ally with. >> we could have hung parliament and in that situation, democrats currently second in more than 100 seats as well as seats in the lead would have a

significant influence in the next parliament, but we will not be going into coalition with either jeremy corbyn or boris johnson we've made that clear. from some ofthat our earlier guests as we count down to the u.k. general election. guestbring in our next for his take on what this election means. the director of the institute of global finance at the university of new south wales business core joins us now in sydney. there seems to be pretty much a consensus that a hung parliament would be the worst of all worlds as boris johnson perhaps made a miscalculation with this election along the lines of theresa may two years ago? >> there's always a possibility of a hung parliament, but all indications are when you look at the polls, the conservative party more likely could win, but the question would be the size of the majority of the conservative party, and i think

that's where we need to wait and see, and that's where you indicated also the opposition parties, even if they may end up with a high political situation with the largest number of seats, they have indicated they are not willing to work together, so in that case, in effect, we have to really wait and see, but if polls are correct, i think the conservative party will end up with a majority. paul: how much of a majority is enough for boris johnson? the latest polls suggest 12 seats. his own party is not 100% united either. is 12 seats going to be enough to, as he puts it, make brexit happen? >> yes, even less than 12 could be a possibility. it depends on the nature of members of parliament on conservative party. in other words, if they share the same views as boris johnson when it comes to negotiations in 2020 with the european union, or

they are going to make it a bit harder for him, if you like, to proceed, first to get brexit done, but then the process of negotiations, so it is really a matter of wait and see, but if they have majority, it much -- makes it much easier not to rely on other parties and basically focus on the agenda that they have proposed to the people. shery: given that you cannot really conduct negotiations on a trade agreement until you formally leave the eu, what will the timeline look like, and can they get it done by the transition period ending in 2020? >> that is the issue that at the moment a lot of people are commenting, and their point is that assuming that by january 31 the brexit is done on the part of the united kingdom, then the european union countries -- 27 countries need to come up with a

joint basically mandate to be able to negotiate with the united kingdom. that might take six weeks. in other words, the starting point of the actual trade deal negotiations would be mid-march. that is the issue that at the moment we do not know the nature of the negotiations when it comes to a trade deal between these two parties. can be finished or concluded by 2020. how much will it depend on boris johnson giving up some of his ideals and breaking some of his own pledges and rules when it comes to these negotiations? >> i think that is the very issue. in other words, we have to look at what boris johnson and his government could give in when it such as certain issues

labor markets, health, agricultural standards within the european union. , how much the european union would like to give in, noting that they are very sensitive with regard to free trade with the united kingdom and united states and they do not want to use the u.k. as a backdoor for export of some of the agricultural products in the united states through the european union, so there would be some negotiations and of course some other scenarios emerging after january 31 if this government is, if you like, reelected and brexit, if you like, is concluded by january 31. is there ant degree center for the eu to play hardball on the trade deal? it does not want to cut anything too good lest some other member states start to get ideas. >> that is the issue. i think the european union's a signal to the rest

of the membership that if you are going to be next, we are going not to let you off the hook very easily, and i think that is the very issue, and all we know is in recent days, the european union is saying they may not necessarily agree to the deadline given to them by the u.k. government that by the end of 2020 we are going to have a trade deal done, and they are now trying to reconsider that position, and this process may well continue beyond 2020. of course, you have to then see what the reaction of the u.k. government is to this proposal. paul: in terms of the various scenarios that could play out in the election, what is it going to mean for the bank of england? >> i think the bank of england has to adjust, if you like, to the new reality. if brexit happens, they have a number of scenarios. the impact of brexit, and of course, they have to adjust to

that. they have to see the reaction of the market. all indications are the financial market is in effect going to respond positively if there is a proper breakthrough, and that positive signal from financial markets would be well coming news for the central bank, but nevertheless, they have to be very vigilant if the trade deal at the end of 2020 becomes purely brexit without any trade deal, and i think that is where different scenarios could kick in. a boost couldh of sterling still get? we have already seen a bit of a rally. economy, three months of no growth basically. >> i think the issue of economic growth, as we know, is everywhere within the european union. the rest of the european union

is not doing even better than united kingdom. we know that. the german economy is not in good shape, so i think that challenge of stagnation, if you like, is with us and will remain with us in 2020 depending on some other factors, including the issue of trade between the u.s. and china, so i think really, we have to wait and see the dynamic forces of what is happening in asia, the chinese economy, the u.s. economy trade as well as some of the stimulus of central bank within the european union. paul: the institute of global finance director, thank you so much for joining us. we will have special extended coverage of the u.k. election is those results role in. you can join us live from london six clock a.m. friday hong kong time, 9:00 a.m. you shery: shery: are watching in sydney. we have breaking news out of japan. we are getting october core machine numbers. a is a contraction of 6%,

fourth consecutive month of contractions for japan poor machine orders month on month. expectation orders were for a slight rebound, but we are atking about in the red, 6% the moment. we had some indication it could be a bad month, but we were not really expecting such a bad month. there was a sharp drop in capital goods shipments, a proxy for capex. we continue to see weaker exports weighing on exports for autos and production machinery, so month on month, a contraction of 6%. a year on year also six point 1% contraction. the japanese yen holding steady at the moment. plenty more to come on daybreak asia. this is bloomberg. ♪

paul: this is "daybreak asia." south korea is headed

into the next decade clingy to an old-school currency given as its economy matures into an export and tech powerhouse. the nation has refused to modernize the korean you one its developing country status. tell us -- what exactly is this story about? what is holding the yuan back? >> you mentioned recently south korea had given up its emerging-market status. i think many would say south korea is a world leading world-class technology driven economy, but when you look at its exchange rate, it has all the characteristics of emerging is only directly exchangeable with dollar and the chinese yuan. it only trades for six and half hours a day and is very limited offshore trading, and there is a feeling among the business

community and some of us following it that it is time for change. what is holding authorities back andhis long-standing fear scar they have had since the asian crisis when there is a big run on money and that is where the -- that is why they want to keep tight controls on it. they were afraid if they let go completely, they will start to see attacks on the economy. south korea is under a lot of pressure at the moment, not least due to slowing growth but also rising competition from china. people say it just happened gradually. paul: lopping off a few zeros would help everybody be less confused, but how else would reforms help the economy? >> the central argument from the business community is you have an exchange-rate or currency

that can only be directly and should -- directly exchanged with the dollar and the yuan and there are those that say if you took those kind of instructions out of it, it would help those businesses deal in euros. those businesses are dealing in yen and all the other currencies . i think the central argument among those in the business community is that it would simple if i things, would bring down costs, woodcut regulations and boost competition, especially among those providing foreign-exchange services now. that is, of course, the pro-argument. the fed under a fair degree of caution under this. authorities are not under a rush and are very wary of what could go wrong with capital outflows. they are not the only government or economy in the world keeping a tight grip on their currency. whatever change is likely to happen, it will probably only be gradual, and even though they are making some changes, it's

going to be one step at a time. paul: thanks very much for that. let's check in on what is happening at the markets. andets opened in tokyo seoul at the top of the hour. sophie: the and holding steady after the latest japanese core machine orders showing the fourth straight monthly drop. taking a look at copper real quick, want to show you the the rozier outlook, copper rising once more as jeffries raised its price outlook on improvement in chinese demand and global manufacture recovery. want to highlight this on reports that gdi is in talks with it you got assets and apple with the board set to discuss that bailout this thursday. shery: thank you. coming up in the next hour, we will be joined by principal global investors' chief global

economist and the research head of east asia. the market open is next. this is bloomberg. ♪ [ electrical buzzing ]

[ dramatic music ] ahhhh! -ahhhh! elliott. you came back!

paul: i'm paul allen in sydney. >> good evening. i'm shery ahn. kamaruddin.ophie welcome to daybreak asia. paul: our top stories this thursday, no change and no signs of change. hold andates are on jay powell indicates little chance for a move in the coming year. and facing an angry agm. the board is truly