haidi: welcome to daybreak australia. we are counting you down to asia's major market open. these are your top stories. president trump under fire for his washington church photo op. critics and religious leaders saying clearing protesters by force was an abuse of power. u.s. stocks rise a thursday as new stimulus and positive economic data continues to suggest a post-virus recovery. the s&p 500 climbing to its

highest since march 4. australia braces for gloomy economic news. the rba may add more easing in the months to come. let's take a quick look at our -- how u.s. stocks ended the day. u.s. investors, equity investors at least shrugging off all of the attentions, increase trade tension between u.s. and china, all the tension on the streets as we see major yours -- major new york city's place curfews to protests, somes of which have turned violent, and very passionate. nevertheless we saw gains in u.s. stocks. u.s. futures may follow that lead as well. let's take a look at how asia is setting up in this part of the session. we are looking like we see the positivity to follow u.s. shares higher for a third straight day. investors globally choosing to

focus on the economic reopening terrible tragic and as these events on the streets in the u.s. are at the moment, it feels like financial markets think they will not have an impact on the economy. japan, the yen weakness overnight is likely to help sentiment there. futures contracts in australia as well. we are looking ahead to the gdp in australia after the rba held yesterday held policies pretty much unchanged. impact from the coronavirus may not be as bad as earlier thought. still, the question is out as to whether australia can hang onto that almost 30 years of recession-free street, or we -- streak, or we see a slip into recession. the aussie dollar and currency commodities continue to outperform as we get this risk appetite returning with hence at the global returning that's

reopening story. -- global reopening story. aussie kiwi slipping below parity with the kiwi for the first time. aussie dollar soaring to the highest level since october, 2018. it's only taken less than three months. we will see if that can continue to hold in the session. americans are bracing for another night of unrest after riots continued throughout the course of the day. major cities have extended curfews, including a new york city. meanwhile, president trump is being lambasted on all sides for the violent response for peaceful protests outside the white house and throughout the country. let's start with the reaction to president trump's choice to have these peaceful protesters tear gassed and removed so he could have a photo opportunity in front of st. john's church in front of washington, d.c. yesterday. emily: it was a very powerful

visual. they were videos of these protesters in the park getting tear gassed. then we heard reports it was because trump was going to come out, walk across the park, and take a photo op next to a church with the bible, which he did. this has been met with a lot of people who do not believe that was the correct way to handle the situation, including some republicans. he saw the only black republican senator, tim scott, say that was not the right action for trump to take. we have heard condemnation from members of the church and church leaders. the sense was this was not a good move for the president. haidi: in the meantime of course, we continue to look at curfews being imposed in parts of the country, including new york city, which is still at the same time looking at ways that the city can return to economic activity. what did we hear from the new

york governor in terms of how the police have performed throughout this crisis? emily: a lot of discussion with the police right now. in d.c. we have a 7:00 p.m. curfew, so that is coming up in a little bit. when we talk about police enforcement, it is very interesting that the federal government is very much looking right now at the trump a ministration, attorney general bill barr, in sending out police and making sure that order is restored to the cities. there has been some debate about whether or not it is abuse like that. estatestated yesterday do not take action, he would invoke the insurrection act, militaryld allow u.s. to take action inside u.s. cities where it would otherwise be prohibited. haidi: and when it comes to the runway to the november election,

it is pretty much a formality in securing then democratic nomination at last. emily: yes. at this point, every other person has since dropped out and backed biden. some like bernie sanders are still on the ticket, but even he has endorsed biden. we are seeing biden come out more. for a while he was doing most of his campaign work from the basement of his delaware home. but we saw him today campaigning in philadelphia. pass aed on congress to ban on choke holds, and to improve oversight. we have seen him start to get out and make his message a little more clear. we have seen him start to rise as a counterpoint to the voice of president trump. haidi: right. because i think it has been surprising maybe for some onlookers that we have not seen more of an attack from the biden camp in terms of the handling of the coronavirus, as well as the

handling of the unrest and the deep unhappiness that is being seen across america. emily: sure. and this is a weird time for many politicians who are campaigning, because you cannot hold rallies, you cannot shake hands, you cannot the meet and greets, all these things that are the hallmark of campaigns are totally banned. it has taken some time for people who are campaigning for office like joe biden to try and figure out what the best way is to really go out and to reach out. now that you are starting to see some of these bands lifted any cities, it is comfortable for biden to go and meet face-to-face with community leaders and getting out a little more. i think we are going to be seeing more of that as long as the trend of continuing to open up the economy goes on. yeah, a huge handicap for campaigning going into november.

d.c.,with the latest from and we have course will be getting a lot more to comes to analysis on these protests. over the next hour we will be an ohio university professor. the government of tokyo is issuing new warnings to residents as coronavirus cases show a new spike. 34 new infections on tuesday, a daily high and more than three weeks. the governor it attribute what -- attributed a tokyo alert. many of the recent cases have come from nightlife venues. there pushing close to a deal on extending oil production cuts and still discussing whether to bring forward the next meeting. russia and other members are said to favor another month of curves, although it is not clear if it would be enough for saudi arabia, looking for an extension of up to three months.

home prices fell the most in more than a decade as consumer borrowing plunges amid the coronavirus lockdown. property values fell 1.7% last month, the biggest decline since february of 2009, which was the aftermath of the financial crisis. bank of england data shows borrowing has collapsed, with households repaying the most since records began in 1993, as the virus hammers sentiments. india's financial capital is bracing for a rare storm with cyclone building over the arabian sea. it is due to cross the coast in the coming hours, potentially disrupting business and daily life as the city battles the coronavirus upheaval. it is packing winds up to 120 kilometers an hour, torrential rain, and sea surges. mumbai has not seen such a powerful storm for at least a decade. worldahead, will dilute -- will the world's longest recession-free streak come to an

end? we preview the key releases do later on. next, main state capital david kudla will be giving us his outlook. this is bloomberg. ♪

u.s. stocks rose for a third day on positive economic signals as the virus lockdowns ease, despite tensions and protests continuing across the country. joining us now to discuss is mainstay capital management founder and ceo and chief is jeff -- david kudla. great to have you with us. we continue to hear about this disconnect between the real world and the markets. how long are we expected to continue seeing this, and what advice do you want it comes to evaluations? david: it is interesting.

when we turned on the tv or we hear the news on social media, we see what is happening in the lottry here, and it's a like what we have seen in hong kong over the past year with the riots that are going on in 140 cities across the u.s., 44,000 people arrested. we now have 29 states have called the international guard, 40 cities have implemented curfews, and it is almost as if it is ignored by the stockmarkets, because the u.s. stock have continued to advance in spite of it. when we talk about that disconnect between wall street and main street, we are seeing it once again. but as we've talked about on this show, and really for months, it's a lot of it is about the fed and central banks around the world that have added and continue to add so much stimulus that it is propelling

stocks and all assets higher, and that is what continues to push stocks higher. we just did not see that abating anytime soon. shery: when can we expect the riots to start to have an impact on consumer confidence, and what would that mean to certain parts of the market? david: i think it may be depends on how long they go on. there's certainly a lot of people that are upset and angry for good reason. and it depends on how long it goes and in terms of the impact it is having on some of these store chains and so forth. and some of the fear it is creating. i do not know that it has had a significant impact yet, but it may. and i think it depends on how long it goes on. i think we are looking further into it. i think the more important dynamic over the past several weeks and even a couple of months now, has been as the

andk market looks forward started already discounting the economic recovery. and that is what we have done in our investment portfolio, is we have already started to rotate back into cyclical areas. we have already come back into construction and housing, and construction home suppliers. we have come back into even the leisure and entertainment and these areas, airlines, restaurants, tourism. those areas have really started to move a lot. and those cyclical plays are really performing quite well. and we are seeing a lot of these areas in the u.s. that are coming down, like a lot of other countries and regions in countries around the world, we have already seen this around the -- seen this in china. we are seeing many areas of china, auto manufacturing back almost to a full recovery.

we are now seeing other developed countries coming back online. in the u.s. we are seeing states open up one by one. those areas are starting to move again. so the cyclicals we think are good near-term opportunity just on the economic recovery or the rebound of those industries. a good tactical play. shery: does that continue, even though as we have been talking about, this is a market that is moving because it is so well-trained by the fed. david: you take something like an etf here in the u.s., the it sold off, itv, more than 50%, almost 60% from peak to trough in the downturn. it's now come back almost 80%. so it has come back more than

two thirds of the way back. so how much more does that have to go before comes back to its pre-covid level? that play has some runway left. but then we take something like the invesco dynamic leisure entertainment etf, pej, that had a precipitous decline as well, it has come back about 46%, not even halfway back from its more than 50% fall. so theoretically, has more than half of its decline yet to retrace. we expected it to be further behind, say, construction and housing stocks. so we know we have more runway there. but i think that those plays certainly are the plays to be right now, along with the secular plays that we still love like big cap technology. shery: another place to be seems to be gold. everybody seems to love it,

especially in this environment of falling rates. how long will this fear trade last? david: we think there is a secular argument for gold. with what central banks are doing around the world devaluing currencies, now we are seeing the dollar weaken with what the federal reserve is doing and we are seeing the dollar decline, which is good for gold, gold price for dollars. so we have seen the fear trade wane lately because stocks in the u.s. and stocks globally have done so well. but gold has hung in there. gold is still performing quite well and we think it will continue to work quite well. there will be days like today where will be a little weaker. a day like yesterday where it hung in there pretty well with u.s. stocks. so the nice thing about gold is it is not necessarily negatively correlated like long bonds with stocks, but it is non-correlated. it will have days where it continues to advance based on

the secular argument that rates are at zero and in some places negative, and in places like that gold makes a lot of sense. and when we get volatility, that correlation tends to be negative. we have days where gold will be very positive when stocks are down. attributes- a lot of for continuing gold right now. shery: you mentioned a weak dollar one of the reasons you like gold. will the cyclical improvement we are seeing right now continue to undermine it? david: i think it is yet to be seen. i think we dollar has been so strong, and we have fed policy there's justlicy, been so much debt that the u.s. has taken on in this quarter alone. a fed policy that has been so excessive. i think it is natural that we see a weaker dollar here for a while. but i think it is yet to be seen

in what we have another countries. when we see other's exchange rate we will follow through, but we will see weakness in the dollar for a while here. david kudla, thank you. also coming up, facebook and race. ceo mark zuckerberg feels the heat from his own employees and civil rights leaders. his response, next. this is bloomberg. ♪ is bloomberg. ♪

haidi: facebook ceo mark zuckerberg is feeling the heat right now from civil rights leaders and his own employees over controversial posts from president trump and the ceo's own response. kurt wagner joins us now. zuckerberg appears to be doubling down, defending his

stance on president trump's recent posts. what is his defense at the moment? all handsad an meeting with facebook employees today over video, and he told them that when he looks back at that post and when he looked at it with facebook's policy team, it did not feel it clearly incited violence, which is what facebook's policy calls for in order to remove a post. so he just reiterated that he did not feel like this post from trump crossed a line. he did say that perhaps the company needs to reevaluate that policy or come up with something in the middle, because right now either the post stays up or it comes down. there is no middle ground like what we have seen in twitter. seems like facebook might consider that, but he reiterated to his employees that his decision stance. -- stands. shery: what about his call was

civil rights leaders about the recent protests? kurt: it did not go great. we saw some statements come out from civil rights leaders after that saying they felt zuckerberg was out of touch and that he clearly was not making the decisions they wanted him to make, which was to take down that post. we have seen facebook have some issues with groups like this in the past. the company has not always had a sterling record when it comes to civil rights and how they handle those types of posts on the platform. so it was kind of just another dig at the company at a time when no one really seems to be on board with the decisions that zuckerberg has made here. protests are also pumping major tech firms like google and sony to postpone virtual announcements. so what are we going to see as the fallout from all this? kurt: i think that we are seeing these companies certainly are

appreciating in some the gravity of the current situation and the current environment. they do not want to come out and announce a new videogame while there are protests happening in a lot of major cities across the country. i think that is probably a good thing, and we will probably see more companies try to kind of walk that line. it will be interesting to know who is the first company that is going to come out and try to basically move past that and say, hey, we are comfortable doing something like this. for now, most companies are happy to try and keep their heads down and let this play out and try and show respect for the fact that people are protesting in the streets. kurt wagner with the latest on facebook. let's get a quick check of the latest business flash headlines. embattled office sharing startup wework is said to be in talks to slash its planned space in london.

it may seek to cancel an agreement with the developer. seen017 deal would have wework leave to buildings with only smaller remaining. investors and landlords have become more wary of wework amid the coronavirus disruption and collapse of its planned ipo last year. the coronavirus upheaval has seen zoom communications report quarterly sales that topped estimates, as videoconferencing translates into more paying customers. revenue rose about 170% to $328 millin in april. zoom now sees full-year revenue almost doublen, its forecast in march. peloton reached all-time highs after analysts warned people may not return to gyms anytime soon. the stock rally 70% this year,

but more than 170% from its march low. month, peloton reported third-quarter revenue up 66% and raised its outlook for a full year sales. started taking orders for secondary lifting in hong kong that could raise as much as $2.8 billion in the second-biggest sale of the year. we are told the offering is already at a maximum price of 126 hong kong dollars a share. the share comes after u.s. lawmakers passed a bill that could force leading chinese companies to stop trading on american exchanges. next, the great reopening. countries and cities plow ahead with return to business, even as cases rise. we will have a global update. this is bloomberg. ♪ ♪

shery: you are watching daybreak australia. it usedhe u.s. admits to smoke bombs to clear protesters outside the white house to allow president trump to walk to a historic church that had been damaged by fire. the agency clear demonstrators after its officers came under attack. witnesses in the area said the protests were peaceful, and riot police fired rubber bullets. the pentagon is distancing itself from president trump's threat to use military against cities, saying it would be

better to rely on the national guard for law enforcement. some active-duty forces have been placed on heightened alert. officials tell us the defense department would push for other options to restore law and order. the state of minnesota has filed a civil rights charge against the minneapolis to put -- minneapolis police department. thewill determine whether department has engaged in systemic discrimination against people of color. minneapolis police have faced years of allegation of root county against minorities. -- of brutality against minorities. seven states and the district of columbia hold presidential primaries. delegates.5 479 ius up today. beau biden may have to wait another week for the right to

challenge president trump. shery: let's turn to some other news. authorities worldwide are largely sticking to reopening trans amid caution over resurgent cases. this wednesday, more students will return to school and south korea, while tokyo is continuing with its phase to restart. italy is set to lift its domestic travel ban. sophie, what is on the agenda this wednesday? sophie: this wednesday, merkel's cabinet attends -- could replace the across-the-board travel warning issued by germany. contingent on the virus being kept in check. germany's ruling parties are to reconvene to discuss a $110 billion stimulus plan after

marathon talks failed tuesday. in japan, apple has reopened the rest of its stores, including in tokyo, where there are not any plans to roll back a face restart despite tuesday's jump in cases to 34, the most in over three weeks. this triggered a tokyo alert which could lead to businesses being asked to close and residents to stay at home if the tally climbs. in the meantime with stage two underway in the city, students have started going back to school as of monday and gyms, saunas, and cinemas are allowed to reopen. hong kong is dealing with a new local cluster. how is the city responding, and could we see a resurge of restrictions if things get worse? furtherhong kong was to ease restrictions from thursday, but social distancing rules in the city will now stay in place until june 18 in light of the cluster which may include nine

patients, recent concerns over local transmission flagged in a study that discovered 1/5 of infected patients were responsible for 80% of new cases. a professor at hpu also warned of a potential super spreader at the site of the new cluster. along with other measures, claritin curves will continue kong willrs in hong remain. haidi: sophie kamaruddin in hong kong with the latest. and we are hearing a grim new milestone in brazil. reporting 1262 new covid deaths. taking that total death toll past 30,000 for brazil as we continue to see brazil and other parts of latin america struggling as the new hotspots for infection. coming up next, will the world's longest running refreshing-free streak come to an end finally?

we will take a look at the key release next. this is bloomberg. ♪

check of thek latest headlines. embattled huawei has suffered -- suffered a new blow with two canadian companies planning to build their networks using a

from europe. ericsson will provide radio access components, while another will turn to ericsson and nokia. justin trudeau's decision on whether to ban huawei. john is troubled hna group is facing -- has two weeks to respond to a claimant hong kong's high court demanding half $1 million to cover an agreement assigned in 2016. hna group was once a top shareholder of hilton worldwide. airline willst keep adding new plans to its fleet despite being crippled by the coronavirus. they plan to replace its entire 120 fuel guzzling older planes in the next two years. the ceo made the pledge despite

reporting a fourth-quarter loss of $115 million. asia's richest man continues his drive for funding. he is said to be in advanced talks with three middle eastern sovereign wealth funds. including a one million-dollar injection from abu dhabi. iny have raised $10 billion recent weeks from high-profile backers, including facebook and kkr. veteran investor mark mobius says he sees a v-shaped recovery from the covid-19 pandemic despite the view that many global job losses will be permanent. he told us while consumers are ready to buy again, the u.s. government needs to invest in infrastructure to help out. mark: i see a v-shaped recovery because that is what the markets are telling us. if you look at every market around the world, they have gone

up by 20%, 30% or so. i am talking about both emerging and involved markets. so i think a v-shaped recovery -- >> financial markets are being driven higher by central banks. that is straightforward. we can see that happening. there is a divorce from the economic reality and associate economic impact that we are seeing on the street. there is a racial element happening now in the u.s. the market is looking past all of that because they know and the investors know the central bank has their back. will that blow up in their face? mark: i do not think so. over, theyckdown is are going to get customers coming back in droves. walk the streets and i see people waiting outside everywhere. that means people really want to get back to buying again.

so once this lockdown is over, i think you are going to see a big recovery of these economies. i'm not saying of course the numbers are going to look terrible, because you're going to have actual shrinkage in the economies around the world, but don't forget, when you start looking at numbers next year, you are going to see an incredible increase. let's say the economy shrunk by 6%. next year it up by 1%. that means 7% increase. so i think it will be more like a v-shaped recovery, frankly. reporter: i hear what you are saying about consumers, but nevertheless, the u.s. consumer was a massive part of the global economic story before covid-19 hit. it's pretty clear that we are going to see a structurally higher level of unemployment in the u.s. we are going to get payroll numbers on friday, and that consumer spending power, while it will recover, it will simply not be there in the way that it

was. and while earnings estimates have come down, we have not still fully felt the impact of our unemployment story in terms of the data we are seeing at the moment, because most people are being supported by government programs. when that changes we are going to feel the force of that. do you agree with that, or do you still think the consumers can act as a catalyst to keep investors on site? mark: your ashley wright. a lot of -- you are absolutely right. this is not only for the u.s., but emerging markets around the world. i hear this from companies you say we are finding out we do not need 20 people, we need 15 or 10. so a lot of people will be out of work. i think this is what trump will probably do, is start a new deal program. so, it's associated with democrats, i think he is going to start a massive program to improve the infrastructure of the u.s., which will employ a lot of people. i think that is the only answer

for the u.s., but also for other countries around the world. they have got to use these dollars and currency they are getting to start massive makework programs, if you will. that includes infrastructure and all kinds of things you can do to put people back to work. i think that is really the only answer. the amazing thing to me is i just looked at the south african rand, and i could not believe it. this april, it has appreciated against the u.s. dollar by 10%. why is that? in other words, something is happening in a country, by the way, which was downgraded by sell's to sel statusl -- status. why is that happening? people are seeing a v-shaped recovery. reporter: if we extrapolate that to emerging markets as well as develop market, you mentioned a new deal-type program, we see

something very similar across the board. so many rate cuts are coming from emerging markets, central banks, and stimulus at the same time we are seeing that in developed nations as well. is that going to come back and bite you? mark: that is a good question and that is why we have companies with strong balance sheets. a number of companies will not be around next year, they will have gone bankrupt. so we have to look for the survivors. then we have to look for those companies that benefit from this used infrastructure spending we see coming down the road. that was mobius capital partner founder mark mobius speaking to us earlier on. --expected the rba c the first quarter gdp lead will reveal whether australia's

record recession-free run is drawing to a close. less anmore or intellectual -- does it make a meaningful difference to policy settings in australia? giulia: good morning. i do not think so, really. andxpect q1 gdp to be weak, q2 gdp is likely to be terrible. i do not think anyone did not expect this. the economy has shut down. so it is quite normal to see a steep contraction. matters ast really an investor is the path to recovery, the shape and pace of recovery that we are likely to see as the economy reopens in q3 and q4. of course a lot of uncertainty. havet's safe to say we

probably avoided the worst case scenario and we believe we will be better from we initially believed. we initially believed. haidi: despite trade tensions and domestic weakness and labor market concerns, we are seeing in the aussie dollar go from strength to strength. over $.68 for the first time since the start of the pandemic, at the highest since 2008 against the kiwi. is this warranted, and doesn't cause concern for the rba, which has been getting a helping hand from weakness in the currency? were quite surprised the rba yesterday did not mention strength in the currency. the aussie dollar is now weighing the task. the rba did try to talk down the in a dovish way by cutting.

the current strength in the currency is driven by the wrong reason. it does not really reflect strength in the underlying fundamentals. reason ofhis is concern for the rba. the aussie dollar is one of the key mechanisms for monetary policy. it is clearly not working. we think the rba is watching what is happening and currency markets and we think if this trend continues, they will have something about it. shery: could they then move sooner than expected and would negative rates be in the cards at some point? giulia: i think that when a central bank is at the effective lower bounds, we cannot disclose -- negative rates remain a possibility. but we are seeing the guidance from the rba, even the governor yesterday was clear negative

rates are exceptionally unlikely in australia, which to us means the rba is finally in a position they have to ease, or because of strength in the dollar. using other instruments before cutting rates negative. [indiscernible] we think they might continue the path of negative rates. it is a remote possibility at this stage. shery: we also saw commuter -- consumer confidence rebounding to the strongest since mid-march or so. how significant is this? giulia: it is a very positive development. seen a reaction from monetary and fiscal policy. there has been a lot.

tradebably reflects that has been successful in flatten the curve for the markets. flattening has been faster than was initially expected. so the rebounding confidence is positive. thisuestion i think is will be translated into spending. usually in australia, what happens is households paydown debt faster rather than spending. the shock we are going to see on the employment side means -- employment side means it is not clear. it might be quite weak. consumer confidence is positive but we still have to see what happens.

haidi: how much risk do you aside -- assigned to trade tensions between the u.s. and china? giulia: we have not -- there are so many other risks behind that. clearly something we are monitoring at this stage. , think it is important to know because australia is a more open economy. the global economy is weak, while australia is -- -- other moreer important issues right now. great having you with us. the coronavirus pandemic has seen a shift to business to domestic for the

wasteland industry. we will be talking the future of trash, next. this is bloomberg. ♪ s is bloomberg. ♪

the waste management industry has already seen a major impact on the pandemic they shift from the commercial side of the business to residential. across protests erupting

the u.s. have added another angle to this story. let's bring in -- let's get started with the riots. there is violence out there. has that impacted your operations and your business? devina: it is a really tragic time for the united states. and what i would say first and personally,that me, and the entire waste management family is just united in our collective fight against racism and our focus on ensuring the safety of our community, because that really is fundamental to what our priorities are. our drivers are on the frontline each and every day, and thus six they have managed success -- successfully well despite what we are seeing in our major cities across north america.

hats off to them. and our thoughts and prayers to the families of those affected, and hoping towards a path towards peace. shery: this of course comes at a time when we have seen the pandemic and that shift going from business, waste collection, to residential. why are you seeing now that we continue to see more and more cities reopen? devina: you know, the thing that is really interesting is we saw a very sharp and dramatic change in the waste volumes with shelter-in-place orders. we talked about an hour call that we are seeing about it when percent decline in landfill volumes and industrial collection volumes. as you mentioned, a significant increase in the waste that was generated in our homes, with 15% to 25% increase in the container waste in the residential part of thebusiness in the peak of

covid-19 response. with communities reopening, we are seeing some leveling off of each of those trends, and we are certainly optimistic about the path forward. iile we see trends reversing, can tell you it is at a much slower pace than the rate of the downturn we saw from the initial response. emerging outes are of the covid-19 pandemic at different rates and we expect that that will continue to be the story and waste management's focus is about being intentional and how dynamic and adaptive we can be in responding to our community needs. what sort of challenges you anticipate as states and cities start to reopen? the challenges at waste management are pretty similar to what i think a number of con --

companies are facing. i can tell you that the fundamental strength of our business model gives us stability and business continuity certainty that some businesses do not enjoy. fundamentally, i think uncertainty is the biggest challenge for all of us, and that is something that we are taking into account in us thinking about the day-to-day business that we make, but also looking forward at strategic business decisions. and i highlighted uncertainty because we think of it in terms of it is driving costs in long-term strategic direction and investments that the organization makes. and when you think about the current environment and the economic backdrop that we see in front of us, we know that this business has to be excessively dynamic and disciplined in taking steps and the way forward, because what we have to do is ensure that we do not just

respond and react to the current environment, but prepare ourselves to be even better positioned for the road ahead. we have seen a return to things like single-use plastics as a result of this crisis. is that a trend that you expect to continue? what are you seeing in your data that reflects that? know, single-use plastics are certainly something that we have seen continue to increase. the not see anything with current pandemic changing that the rent -- trend. there is a current responsibility emerging from all of us in terms of social responsibility and environmental responsibility. we know there are significant efforts across the industry, not just within the waste industry, but more universally.

shery: we are out of time but thank you very much for joining us. plenty more ahead on daybreak asia. this is bloomberg. ♪

♪ >> welcome to "bloomberg daybreak: asia." we are counting down to the market open in australia, japan and south korea. president trump under fire for .is washington photo op critics and religious leaders say clearing protesters by force was an abuse of power. asia-pacific follows wall street higher as new data continues to