>> a very good morning and welcome to daybreak australia. we are counting down to asia's market open. your top stories. asia-pacific markets are set to start the week with gains. investors weigh vaccine progress. oil is back in the spotlight opectensions rising among and its independent allies as an end to restrictions.

was really a six global support for its trade dispute with china. cameron wants the wto to step in and and discrimination. >> here's a picture across markets in asia. take a look at futures. japanese futures are higher by 0.6% after closing at the highest level since april, 1991. the japanese yen holding steady. rally. november kospi futures are also higher oner closing at the highest record. investors will be watching closely for numbers from the black friday shopping weekend in to u.s. with cyber monday come. one reading shows visitors to brick-and-mortar stores dropped by half from a year ago. is the cio of boca

partners. we have seen a huge run-up when it comes to retail stocks across the u.s. what are you expecting after the holiday season? >> i think they are probably set up for perfection. .t is largely due to covid-19 a lot of people will spend money during the holiday season for traveling to exotic places like skiing or warmer climates. they also do things like take the family out to dinner and do things like see the nutcracker or other special holiday events. none of those can go on. what are people to do? i think they will spend more in stores and we will see what happens. people are going to try to make a merry time of it is christmas. >> are you investing along those

lines? >> always. we like good retailers and what i mean by that is that companies through whatever market cycle you are in no their job is to delight the customer and give them what they want. more or less at the price they want. a company like urban outfitters is in our portfolio because they are great merchandisers. they look at a -- they look at the niche they are in and they have been able to deliver over many cycles. those are the retailers we like. hoardinglk about covid still continuing. will that trend continue into next year? >> i do. it saddens me. how much cleaner can people need in their homes? apparently, whenever the items come in, they go and are cleared off the shelves.

did a run for myself, for my household, and i walked by the shelves where there was a antibacterial cleaners. i think these kinds of stock outs are here to stay. economy ord of new reopening opportunities do you whiplash markets have experienced and there is a long road to recovery? >> we will look at what the new era will be which will hopefully be post-covid. i hope we don't have more than one pandemic. we will see. regardless, i think online shopping is here to stay although i'm one of those people that understands people's vision

-- when -- i went to target today and target had all of these great things on the end cap and they make them look great and they are good merchandisers. you go in there and you spend way more money than you wanted to which is kind of their job as a retailer. onlinethink a lot of ordering is going to be done and amount of thee white-collar worker will not return to the office at least every single day. those are trends you have to invest around. >> what do you make of the energy sector? many people had discounted this whole industry because we saw prices getting hit. now, we see a rebound when it comes to oil prices and a huge opec plus summit coming up. >> i think the producers have figured out that a lot of the world no longer commutes. it would benefit them to cut

back on production. that has always been a challenge for opec, to continue their cutbacks. but i do think that is likely to happen. is sortause the demand of soft. the other thing i have seen is liketicle about a place texas which has become an alternative energy source. it has put in a lot of windmills and solar panels. we are kind of switching over as the economic forum to alternative energy sources. , great to have you. hit by the antidumping tariffs that took place over the weekend. treasuryaring from

one. they are set to cut their local ands including supply overhead costs and they will be reducing future intake plans and also saying china represented 30% of their full year 2020 earnings. treasury wine saying it will be to other luxury growth markets in anticipation of those antidumping duties that kicked in over the weekend. globale also targeting a cost to doing business. we did hear over the weekend as well that the australian government is looking to step up their strategy in terms of dealing with these as collating tensions and trade actions from china by heading next to the world trade organization. let's get over to karina

mitchell in new york. china says it needs annual growth of four by seven present to achieve its growth of doubling the economy by 2035. a senior economic adviser says the nation possesses the conditions to meet that goal. said it isi completely possible for the economy to double in that time. rally in is trying to our national support for its trade dispute with china formally asking the wto to step in and and discrimination against the exporters. camera hasent says complained to the wto about restrictions on exports. opec plus failed to agree on output decreases on monday. inrces say most participants the discussion supported maintaining current levels but disagreed.

oil producers will not be able to activate almost 2 million barrels of oil. bury thereparing to father of its nuclear industry. tehran says its policies and strategies will not change because of the death of the nuclear mastermind who died in an attack on his car on friday. iran blamed israel but no one has claimed responsibility. fox it istrump told hard to send a case to the supreme court and he probably will not succeed. he failed to offer evidence of widespread fraud. president trump indicated his legal options may be running out but suggested there is no end date in mind. 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 karina mitchell. this is bloomberg. fridayl ahead, black crowds stay home during the pandemic. cyber monday is expected to see a spending surge online. a coronavirus update as california cases hit a record. the u.s. is still working towards a rapid vaccine rollout in december. this is bloomberg. ♪

>> we have an alert on the bloomberg. the mystic media reporting the japan exchange, the management of tokyo stock exchange will be punished over the outage they suffered in october. in late october, we had a full day outage when we had an equipment failure. tse took full responsibility

for the outage. that thering from nhk management will be punished for that outage. >> as you well know, the u.s. is reporting lower infections over the weekend following the flag after thanksgiving but new cases are still surging with california and new york reporting worrisome numbers. where do we stand at the start of the holiday season? there were a lot of concerns about people not wanting to social distance and wanting to travel. >> we clearly saw a lot of travel over the holiday weekend. it was the largest air travel day since the pandemic began. to knowers are hard right now because a lot of states did not report over

thanksgiving. we are catching up on numbers but it is clear they are quite high. was talking today about a surge upon a surge. weather and the socialization over the holiday season will make things worse. everyone isson why asking when are we going to get the vaccine? are we getting any more reassurances about when that might happen in the u.s.? >> yes. the main strategy of the trump administration right now which is to reassure people that a vaccine is coming. it looks fairly decent. out, thedoctors came surgeon general and dr. fauci stating they believed the out in would be rolled

late december. emergency approvals for both the pfizer and the moderna vaccine. one thing that is important to remember, in the beginning, it will be front-line workers, health care workers, the really vulnerable. the very sick. mid-next year until your regular person gets the vaccine. there is a lot of time. >> here in new york, we are getting conflicting messages coming from mayor bill de blasio. what is happening with schools? the test positivity rate is still above the 3% threshold. what is going on? >> the mayor has completely abandoned his threshold, the 3%. that was the agreement with the teachers and parents.

on the 17th, they did close the schools. i think the problem is that closing the schools is an enormous hardship. it is difficult for kids. it is difficult for parents needing to go to work. and there is a lot of evidence that especially among young students, there is not a huge amount of transmission. what will the block zero -- what was that we -- what the mayor said is that we are going to open them anyway. starting with pre-k in elementary -- and elementary. they are not going to touch middle school and high school until later.

the mayor and the governor do not often get along that well. our bloomberg news editor, ian fisher from the uric with the latest on the virus situation. renewed confidence among clients with vaccine progress and as the holiday season approaches. tok read spoke exclusively bloomberg about where he is seeing the most resilience. the vaccines, coming on this side of christmas and early next year -- i think many are becoming more confident to invest in the future. , everyonend april slammed on the brakes understandably when the first lockdowns took place. clients are still, not optimistic, but they can see consumer spending for christmas.

coming into next year, the prospect of the vaccine bridges us into what promises to be a 2021 at least from an advertising perspective. the u.s. was down about my present this year. it could grow by about 12% next year. and in the u.k., a similar progression into 2021. what are the regions , sectors that have surprised you on the upside? stronger-than-expected? what about china and which sectors are spending more? coming into this come if you had said to us that our earnings would be down 9% or 10% this year, i think we would've predicted a much worse situation in march. the advertising or marketing industry has not been as impacted by covid as many

expected both ourselves and analysts. one reason for that is consumer spending has held up pretty well. the other issue is clients continue to invest and communicate. what has struck us is the growth of our largest clients. 11 of our top 30 clients in the third quarter increased their spending. we are seeing good growth in consumer packaged goods, health care and technology. unilever, scheduled to have their strongest quarter in q3 in its history. we all feel terrible for businesses and hospitality and leisure, small companies finding it hard to operate. geographically, china has not bounced back as quickly as we would have expected. some of that is driven by problems with luxury goods.

we do expect that to come back more strongly. the u.s. has been relatively resilient. we will watch what happens over thanksgiving with some hesitation perhaps as we do over christmas here in europe. wppi. ceo of the users of over half the world's crude oil are set to decide whether to extend production cuts into 2021 but a consensus could prove tricky. this is bloomberg. ♪

>> time for morning calls to get a snapshot of some of the most notable views ahead of the asian trading day. dollar's month-long rain could be nearing an end.

the aussie is expected to beat the kiwi heading into the end of the year. let's stay on commodities. obank -- 1.1 million tons to nearly 773 million tons next year. many nations are looking to stockpile grain to protect against any coronavirus related supply shocks. >> turning to oil. opec plus meets on monday and tuesday for key meetings to make a final decision on whether to delay the production increase. panel of ministers failed to come to an agreement. let's get the details. james, there seems to be a bit

of tension among members. what are the latest signals coming from the meetings? >> it sounds like we have two countries, the uae and -- they came to get their revenues flowing again and they would rather that increase be kept in place. the saudis and pressure are pushing to delay the increase. without an agreement, i think we see an issue when oil opens in a half an hour. that being said, the formal meetings don't start until monday so there is still time for things to be hashed out here. thenat are the prospects if you were a betting man about a potential compromise being reached? there is real concern in the markets. >> i think part of that is

reflective -- we have had a strong run in oil in the last four weeks and a lot of that was based on the positive news that we have had on the vaccine front. the rollout of the vaccine will boost consumption. but, it was also a symptom of the fact that people were expecting a delay in the output. now there is doubt in the market as to whether that will happen. likely thatk most the most likely outcome is that we won't get a postponement to the increase. are pushing for that and there is probably a backroom deal to be done with states.lcitrant there has been talk that the delay will be 3-6 months. might be aise

smaller postponement. my expectation would be that the deal will be done and i wouldn't expect to see oil prices fall completely this morning. the businesseck of flash headlines. traffic regulators in the u.s. are investigating whether faulty suspension parts on tesla cars could mean damaged tires. the agency has received dozens of complaints regarding failures at low speeds. tesla admitted, some models had been fitted with suspension links that did not fit expectations. unicredit has called for a meeting raising doubts about the future of the ceo. he has been resisting attempts by the italian government to take over the rival, monte paschi. his term ends in april.

the times is reporting that j.p. morgan and lloyds have an interest in purchasing a british startup bank. lloyds is said to be interested in is technology. if the deal goes ahead, it would be the first merger of a bank and a start up. reportingal review -- the tech giant is said to be looking for a content partner. and has been in talks with several organizations in recent weeks. coming up, camera flags -- canberra flights were wto action. for wto action. we have the very latest.

this is bloomberg. ♪ businesses today are looking to tomorrow.

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first: you are watching word headlines. coronavirus infections have soared past 62 million with the u.s. continuing to be the epicenter. cases in california hit a record. a vaccine is anticipated before the end of the year. germany says that infection rates are falling too slowly. brexit teams work over the weekend to seek a deal. says talks will

continue despite warnings that brussels once more compromise from the u.k.. althoughmains possible discussions have already gone past the mid-november guideline. bushfires are burning west of sydney. the last two days have been followed by cooler weather with temperatures up to 25 degrees but firefighters have an battling ablaze outside the city. 62 separate blazes are reported. reports from tokyo so the organizers of next year's delayed olympics additional costs of $2 billion. they will decide month how to split the cost between the capital and the federal government.

the man who originally played darth vader is dead. the british actor who was the was 85. not the voice he portrayed darth vader in the original star wars trilogy. because you villain always remember the bad guys. i am karina mitchell. this is bloomberg. wto action is the next step in the trade dispute with beijing. there are huge tariffs imposed on mine products that could triple products making the exports unviable. bureau chief joins

us now. .retty boring menu what is the latest? >> absolutely and especially coming into the warmer months. tradeday, australia's undermined the confidence in the global economic recovery from the pandemic. what is important to remember is that china is australia's largest trading partner and the biggest buyer of australian wines. took exception november 28 and they are ranging from 170% to 212%. shery: what can we expect on the wto front?

any decision takes a long time. >> that's right. yesterdaynteresting 's commentstt morris that australia will do everything that it can to make sure that it can address these trade issues that come up with not --and are -- are could not be any happier about the situation stop haidi: we heard from the treasurer earlier this morning talking about their change of strategy trying to find other key markets although they admittedly said that china takes up 30% of their full year sales. where do we expect things will go from here? it is interesting. china'srris asked if

behavior was economic coercion. the trade minister said that people are posing this exact question. it's going to be interesting to see where it leads. we will be keeping an eye on treasury liens this morning. it will be interesting to look at the other key growth lecturing markets from china. consumers thought other markets if not china would be an eventual beneficiary from this. rebecca joins us with the latest. if you want to listen into the call, it is taking place right now on live go on the terminal. we will have more on this story coming up next speaking to mitchell taylor. he heads up one of the privately owned wine groups all stop he

says the decision to impose a tax of as much as 200% is outrageous. him.ll be speaking to this is bloomberg. ♪this is bloomberg. ♪

haidi: as we mentioned earlier the australians are appealing to the wto to rein in what it calls

china's aggressive trade tactics. facing antidumping taxes of up to 212%. guest joins us now. we thought you would be on to talk about something more positive. heard from treasury wines. we are continuing to hear from them at the moment of how they are trying to pivot this away from china. what is the impact on your business and how do you move forward? >> this will be devastating, not only for our family business but for the australian wine business. ofs is the largest market 1.2 billion dollars of all trade. to pivot.ve to try

you don't turn on these markets overnight. we've been developing the chinese market for 25 years and now we will have to look to the rest of asia and europe to try to allocate some of the wind that we were hoping to sale -- to sell over in china for the chinese new year. is criticism from some parties about how the chinese government has approached its relationship with china, continuing to poke the bear, sticking its neck out calling for that investigation into the origins of the pandemic. do you think that things could have been handled more manically ? are you now suffering the consequences of what some say is just a poorly managed relationship?

support the government on but with the respect of the relationship, a lot of this could have been done behind closed doors. we have a long term and inategic respect with china building the relationship we are really keeping trade separate from some of these other international security issues. world would like to know where the coronavirus originated. it's up to the world to figure it out and not have us trillion go as a one-off and talk about these issues.

shery: having been in china for two decades have you seen the chinese and australian ties this low? >> i haven't. chinese people of the quality of wines. i feel sorry for the chinese. it's the regime coming through very strong. are wanting to enjoy more quality australian wins. it's upsetting to see the relationships starting to get fragile. we are hoping that common sense will be put forward. temporary 10 day duty they have put on but we really appeal to the regime to look at the data, because the irony is we are not dumping wind in this

market. it is our top for the premium wines that are really going through the roof. it is not at the dumping level at all. shery: who are you talking to in china right now? >> at the moment in china we have two containers we are trying to get through customs. we have another four on the way. we are literally going to pull them off of the boat in singapore. we are hoping that things will dramatically improve, but with this news that came out on friday things are not looking promising on the short to long-term.

chinese wine imports this year are on track to fall to a six-year low. the problem is you talk about diversifying different markets. there is no market that can andace the consumer base the demographics of china. what are the other markets you could develop a relationship with? our largest. thailand come second and then the united states takes about one third of what china do, and also the u.k.. we could build those markets up. some high duties, not , but we mayo 12% work with building a better trading relationship status. the opportunity is there but

things take a long time. excellent support package that will finish in june. we may ask the government to help us continually invest in marketing. the u.s. is the largest global wine market in the world, but they don't know anything about the quality of us trillion wine at the top end, so we need to get that through into such an important market. haidi: what would you like to see in terms of the government for providing more support for industry when the next few months will be a struggle. >> it will be a big struggle. we need them to fill up these

relationships, open the doors for us. highest taxed wine producing country in the world. so we need a continuation of the marketing package we had so that we can afford to do us trillion wine promotions in markets like canada, japan, the united states and the very important markets of europe, particularly with the wine -- australian coming through with the trade agreement we need some focus so that we can continue to grow these markets and can really that not to the world only does australia make some of the best wine in the world but -- wines globally which is an

exciting thing for us to do. point, while the tariffs are in place, what is the risk of the broader australian wines that have been built over decades of being present in the chinese market? we have invested a lot in our education, the detail of our regions within the chinese market and we really need to continue to do that good work. we still want china to come on the journey with us. we feel the chinese people have andady got a great love appetite to explore more and more of the quality lines -- quality wine in australia.

shery: 2020 and 2019 have not been so great for the wind industry, we had the bushfires which we thought would be the biggest event of 2020 and then covid-19. >> it has been a hellish year. we have had droughts where we are for two to -- two to three years. -- to deal with and have had to reject some of the fruit and 2020 is the year that just keeps giving. we sell out wines. we're starting to get in recovery, we can see the drought strength to break where we are and to have our biggest us,et up to 12% slapped on

it has been a difficult year, but we are looking for getting through 2020 and looking for positive news. shery: thank you for sharing with us. stayg up next, shoppers away from stores on black friday. you're away, if from a screen, you can find in-depth analysis on bloomberg radio. app orvia the bloomberg.com. stay with us. ♪

shery: traditional black friday sales look very different this year with one data tracker showing in-store traffic down 52%. ob analytics expect cyber monday to be the largest online sales day in u.s. history with spending soaring above $12 billion. it's great to have you on. we haven't seen those doorbuster live pictures. it has been about turkey and

online shopping. >> if you went to a store on black friday, it was empty. we had a reporter on fifth avenue in new york city who said that the line outside of the philippine consulate was longer than the line outside of most stores. it looked like any other shopping day. a lot of that was on purpose. walmart said they would limit the number of customers inside stores. target set up a system where if too many people were there, they would text you when it was your time to come in. retailers did not want to set up these doorbusters, they did not one people lining up and crowding. some releases of a playstation 5 and xbox that many of its bigger rivals chose not to release in person. people did still campout in

tents. if you showed up at a mall on friday you would have no idea. haidi: we have seen the pandemic create or exacerbate the major shift. enough?se sectors done there are some big winners, those who have strong online fulfillment. several other big retailers rolled out things like curbside pickup for the first time. kohl's, gap, macy's. they have had time to work out the kinks but this is the first time they are putting them to work. and so much delivery demand, some retailers are saying the last day that you can order before christmas to get something on time, you are moving that forward.

stores have adapted. some of them are testing one-way aisles. many have federal mask mandates. some are trying creative things like lululemon. grab insy to pop in and order that you already place without going into the store and waiting. to keep in mind even though we just talked about how empty those stores were, that it might still be a record holiday fees and. days inbe a record 70 the days that we normally see between thanksgiving and christmas. shery: we saw a huge run-up in

consumer stocks. are we now priced for perfection? >> some of the stocks we are seeing rise are the ones that had already figured out e-commerce. online marketplace for homemade crafts. they have really figured out the delivery option. topair was one of the performers on friday because americans see that they might be stuck at home for months. think you are going to see a lot of consumer stocks do well. alonges who are not going for the ride are the ones without this online presence. think about the department stores where you only go in person. you show upxx where and don't know what you will find or burlington coat factory which does not have an online shopping presence. that worked well pre-pandemic,

but they are the laggards now. everyone is hoping for a vaccine that gets people back in stores. >> good to have your insight. here is a quick check of the latest business flash headlines. taiwan is and talk to buy silk tronic for $4.5 billion. the german manufacturer says it expects them to offer 125 euros per share. ofmany's backer opens 30% silktronics.-- silk tronic' hsbc is said to be considering quitting its retail banking network. the review may suggest reducing

investment banking to concentrate on asia and the middle east. op -- slashed 30,000 jobs amid tensions between the u.s. and hong kong. in thegest insurer european region. largest makes vig the insurer in hungary. it gives it an entry into turkey. the deal was the equivalent to 2.6 times its value. haidi: let's look at the markets as we set out for the last trading day of november. it is on track to be the best month on record for global equities. kiwi stocks are up by 0.7%. some analysts say the premium over the aussie dollar could be closing soon. we look like we could be

erasing those losses for the year. the nikkei futures looking like we will see a gain at the open. this is bloomberg. ♪ businesses today are looking to tomorrow.

adapting. innovating. setting the course. but new ways of working demand a new type of network. one that's more than just fast. you need flexibility- to work from anywhere. and manage from everywhere. advanced technology. with serious security. and reliable coverage, nationwide. forward-thinking enterprises, deserve forward-thinking solutions. and that's what we deliver. so bounce forward, with comcast business. - any idea how much it will cost? - you have a choice. insurance or goodrx. - i have insurance. - insurance is not what it used to be. people struggle to get their prescription covered and prices keep rising. i recommend goodrx. you get free coupons to save on your prescriptions.

- [narrator] compare prices to get the best discounts. - goodrx, smart. - [narrator] stop paying too much for your prescriptions. download the free app today. haidi: very good morning. we are counting down to asia best of a major market open. shery: welcome to daybreak asia. the asia-pacific markets look set to start the week with gains oil is back in the spotlight with attention