do the aerotrainer super crunch, push ups, aero squat. it inflates in 30 seconds. aerotrainer is tested to support over 500 pounds. lose weight, look great, and be healthy. go to aerotrainer.com. that's a-e-r-o trainer.com. >> good "daybreak australia," we are counting down to asia's maker major market breaker. i'm kathleen hays. bracing for the end of the trumpet era, with barriers and thousands of troops in washington. approval numbers slump. markets are risk off as

we are seeing the aussie below

77 after the overnight decline and the yen is trading below three levels here. this is ahead of janet yellen's testimony. nonetheless, given the low rates and economic coverage expectations. >> we will get back to the official story as they are looking at farewell ceremonies with joe biden. trump will be the first living u.s. president in a century to skip the regular exchange of power. let's get more on this. josh, there's a lot of sort of unprecedented elements and we are getting his latest approval rating falling to 34%. what's the tone that he's leaving the white house with?

>> he's potentially abandoned the day-to-day work of governing, unheard of numbers in terms of his approval rating. any effort to plan him a goodbye as a counter programming to the biden inauguration is just another projection and on top of that, of course, we've got the pandemic and of the security threat hanging over the inauguration here in washington. it looks like something of a war zone with all the troops and whatnot. it will be a remarkable day on wednesday and trump is hightailing it to get out. it's an open question about what he will do with the waning hours of his presidency, or the or so hours left, so we are watching to see where it goes. i don't know that we both see

again a case where the president just refuses to go to the inauguration. >> one thing people have been wondering about is if donald trump would pardon himself and family members. the bloomberg team in washington is saying probably not? >> our colleagues are saying that it doesn't look like it, as of now there's nothing, no paperwork prepared for him to do that. same thing for his children. ivanka trump, jared kushner, there are a couple of moving parts on this. no u.s. president has tried to do it in there's a legal question about whether they can. but trump doing so may invite a challenge. the other would be kind of admitting that he's at risk and trump is not a guy that likes to do that. even in the face of pressure. it looks like he has ruled that

out, opening him up potentially to criminal prosecution related to his time as president on top of the challenges he's been getting that he has been using the presidency and he will have legal headaches going forward and it doesn't look like he will do pardons for himself or his family but we do expect a big chunk of pardons to come out tomorrow, like celebrities and that. guy: in the meantime -- >> in the meantime we are waiting for janet yellen during this era, some of the staffing that the new president is putting in place. what are we expecting to hear? and this could be the first forum where we get congressional and lawmaker reaction to stimulus proposal.

>> that stimulus thing is the big question. biden one set to get through congress in a matter of days and weeks and that will be a tall order for yellen to thread the needle. politicking wasn't really her egg before. particularly the biden proposal has some poison pill elements, things that republicans are bulking at, like a $15 minimum wage, for instance. the urgency i think is the biden number one priority, so it's unclear how quickly she will be able to get into office and then navigate the divides in congress. >> surely everyone will be watching out for the tone of those questions. and don't miss our special coverage of the joe biden inauguration. david westin will host an

extended balance of power in hong kong and you can catch it live here on bloomberg tv, radio, and on dictate. a couple of big voices coming up next, a senior fellow in bloomberg contributor, niels ferguson, joining us at the bottom of the hour. and we will be speaking to kevin rudd later on daybreak asia. later with all of that, let's get over to karina mitchell. >> the italian prime minister has one of vital confidence vote but faces another test in the senate on tuesday after losing the support of the party. this would let him stay in power even if support fell short of a majority. he's under fire on coronavirus and his plans to borrow another 32 billion euros. meanwhile china says they have decided to sanction some u.s. officials over the washington reversal of decades of policy on

taiwan. they had moved to relax restrictions on interactions with the island and measures would be imposed as a response. alex azar visited in august and had an angry reaction from beijing. beijing is also accusing washington of conspiracy theories after the trump information -- the trump administration said they had new information that the virus may have come from a chinese lab and they called it the last madness of the outgoing secretary of state mike pompeo. chinese drug developer developing its covid-19 vaccine saying that it is more effective if the two dose regimen is administered over a longer time. it had wildly different results around the world. the indonesian president received that country's first inoculation last week and brazil has also authorized its use.

global news 24 hours per day on air and on twitter -- and on quicktake. i'm karina mitchell and this is bloomberg. heidi? >> australia is unlikely to reopen its border this year, even if most of the population gets inoculated. this after a stern warning on vaccine rollout. details ahead. plus the market outlook from capital advisors. this is bloomberg. ♪ so you're a small business, or a big one. you were thriving, but then... oh. ah. okay. plan, pivot. how do you bounce back? you don't, you bounce forward, with serious and reliable internet. powered by the largest gig speed network in america. but is it secure? sure it's secure. and even if the power goes down, your connection doesn't. so how do i do this?

you don't do this. we do this, together. bounce forward, with comcast business.

>> you are looking at a live shot of the sydney harbor with australia saying it's unlikely tourists will be able to come and enjoy the view or that australian evidence will be able to go overseas either. borders are expected to remain

shut even if most of the population receives a vaccine according to brendan murphy, saying that covenant will be maintaining strict restrictions and international travel will stay largely on the hole in the start of trading, they are hoping to reverse some of those losses in the monday session. sticking with the virus, gaps and vaccines continue to raise concerns over continued spread of the virus ringing more dangerous versions in the future with the who allowing younger, healthier adults to get inoculated before the more vulnerable. tim, in so many ways we talk about this pandemic rating deepening inequalities globally. vaccine diplomacy and access to vaccines is really becoming the new front in this. >> that's right, what we are really seeing is the rollout

globally and within the countries themselves sort of reflecting a lot of the existing disparities. economic, demographic. it tends to hold up a mirror to society and that's what we are seeing worldwide really. >> the director of the world health organization came out with a statement. what did he say and what does it mean for the future of the rollout? >> he used very strong language, saying the world is on the brink of a catastrophic moral failure and that what he is concerned about his younger, healthier people who live in developed economies, like the u.k., the u.s., the european union, are getting access to vaccines that conceivably could go to at risk populations in poorer countries. so, that would create haves and

have-nots but it's also dangerous for these developed countries as well as allowing new variance to develop that could eventually be resistant to a vaccine. >> we are just getting some of the latest when it comes to the departure tests for arrivals into new zealand. update on that, new zealand's saying that they are requiring predeparture testing from january 25. australia and the pacific nations are exempt. we are seeing finessing depending on the state of coronavirus cases and depending on the country that people are traveling from and heading there. we are also of course watching the rollout when it comes to the vaccine and hotspots across the u.s.. when you see these numbers evenly across the board rising, looking at new york specifically, is there some sort of penalty system being hinted

at to get the rollout to be managed more efficiently? >> that is something that the trump administration, which only has a few days left, has tinkered with. it's that thing where they are sending more vaccines to states that are using them or quickly. if you look at new york, they have not, or at least hadn't been using the vaccine inventory as fast as neighboring states like connecticut, so, we saw connecticut get additional shots last week. so, you know, i think the message from the federal government there was that we will restock those who are using the ones they have on hand. >> tim, thank you for joining us with the latest on vaccine rollout around the world. economic recovery from pandemic could stretch into 2022

according to our next guest, but watch out for a correction on the markets, says andrew smith. he joins us now from dallas. andrew, vaccine rollout, stumbling a bit. perhaps not too big of a surprise since the united states and other countries around the world haven't done anything like this in modern history. but is this something that could help to spur the kind of correction where you are telling people to be on the lookout for it even though you are positive on the economy? you are just worried that there are some signs, some indicators that could point down? >> exactly, well said. we are looking at it in two different fronts. a new political landscape is coming on board. then the vaccine rollout, there was an article that it was put on pause in california because of adverse reaction and it was

too early to tell but we know that daily new case counts are increasing and we have known that, lockdowns and restrictions have been in place. what happens with new business cycles, a lot of people jump on the bandwagon and get very exuberant and we saw a lot of people jumping on the reflation trade and it's quite common in these business cycles of what we get worried about is things getting overheated and we know that there is more opportunity for negative catalysts to pull the markets back, creating better opportunities for us to redeploy capital and at this juncture it's just too many unknowns. there's a new corporate tax structure, u.s. tax structure. the chinese gdp was great yesterday but the impulse is relaxing, so it's more like it helps with long-term investors. >> of course there are a lot of

questions over vaccines. the pfizer vaccine in florida, there's an ob/gyn being investigated by pfizer and this is also probably to be expected with a brand-new vaccine. but in terms of the new administration there was a lot of uncertainty last year. stocks crashed in then they roared back. will uncertainty stop the bull market this year? >> to dissect last year, we look at the markets and they take their cues from the central banks. the ample liquidity that we have flown into financial markets has been extraordinary, right? >> there's more liquidity injection than we had during the financial crisis and in august we saw case counts increasing with second wave topics hitting headlines left and right and we believe that the ample liquidity injection has caused global synchronized recovery.

the case remains intact but the new administration coming in adds uncertainty and we know that biden has committed to more stimulus efforts and we think it is more the bull market is intact in 2022 because of the economic recovery but again, it's more of that volatility will come back, so get used to it and make sure that we deploy capital in the right segments of the market as we know the economy will continue to grow. >> where you find value in this environment when valuations are so high? >> that's the biggest riddle right now. we know that markets are rich and they don't necessarily pull back because evaluation. right now we look at the typical playbook of a business cycle recovery and of the earnings story that is about to unfold is quite phenomenal.

talking about energy for a second, it's the best performing sector year to date with a positive earnings provision of 13.2%, meaning markets and analysts have already started to come into price a better earnings story for the sector and that's materials and industrials leading the story so far. so, we think it is more of a tie for activist investors, single stock investors or sector specific investors that will outperform as the story unfolds in the economy hopefully reopens based on vaccine rollout. the better risk-adjusted trade will be in those cyclical components of the market. >> let me talk to you about banks. we are getting a lot more in terms of the bank earnings we have had so far. like it's not amazing but it's acceptable. i want to bring up this chart and the fact that we are seeing pre-pandemic levels with

biometrics that were looking overbought. but the indicators that they are looking quite lesh, how much more runway is there in terms of this relative idea of value when you take a look at the big think names in the u.s.? >> we are more constructive than the rest of the street in that sector and it has to do with margins and rates and i think the bigger story building right now are these long-lost provisions, right? last year a lot of these banks had sandbags and we had seen them start to reduce these distinctive measures, leading to more income on the bottom line with more redeployment back in the capital structure. we saw a regulation winding down for distribution back capital for purchases and dividends, so we know that the financial sector from an investment standpoint is starting to unlock more value and we think that the

yield curve slope right now is set to continue to expand as growth picks up, as inflation picks up. that is a dual tailwind mandate that will allow compelling in the foreseeable future. it's also one of the most underwhelmed sectors of the market. looking at energy materials and industrials, it's 22 to 25% of the overall market, leaving a lot of dollars from a mathematics standpoint. >> great to have your views with us. andrew is the chief investment strategist at [indiscernible] chinese demand for iron ore remains robust. this is bloomberg. ♪

>> rio tinto has released full quarter production numbers with estimates of 80 mind -- 89 million tons of iron or shipped. australian iron or is still desire despite concerns over deteriorating trade relations but the expectations work strong going into this? >> that's right. it was 88.9 million tons for the quarter and you are just a tiny bit above estimates with bang on the midpoint of the guidance. 330.6 million tons up 1% on the year. rio tinto did have robust buying in china. going a little further to 300 and 40 million tons.

mining copper output was down but it eat the estimates and they had that coming substantially in 2021 with the aluminum output rising 4% further in 2021, but this was the first production report for the new ceo, who has only been on the job for 19 days but in delivering these numbers he needs to refit the relationship with indigenous communities as well. >> 19 days on the job and there it is. $90,000 per ton, how is the next quarter looking for the big minors? >> as long as china keeps the taps open, it's hard to see a downside. iron or prices rose significantly last year on the type of market fundamentals. brazil has of course been experiencing its own supply problems and china desperately needs australian iron or.

steel production in china is surging 5.2% from last year with production topping 100 billion tons for the first time, which has driven the iron or higher. right now it's just a tad above $170 per ton, the government is operating its price forecast to more than $100 per ton before it can ease back to 2022. >> sounds like the speed ahead for now. up next, president trump is preparing for his last day in office before handing things over to joe biden. we will discuss his legacy and the challenges ahead with neil ferguson. the many questions on the plate that we know now according to our news team, donald trump appears not to be considering pardoning himself or any members of his family, but questions remain with his approval rating dropping to 34%, one of the

lowest rates of presidential approval in u.s. history. what is he leaving to the nation? keep it here, this is bloomberg. ♪

karina: at of the inauguration, president trump's approval rating has fallen to 34%, underlining a term that has the lowest average approvals of any president since gallup began measuring it under harry truman. joe biden under unprecedented security. thousands of national guard troops have been sent it along with barriers preventing access to the capital and other sites. the u.s. is sending b-52 bombers to the middle east has tensions with iran continue to rise.

the pentagon released pictures of the planes refueling over the region as tehran jumped up military exercises ahead of the inauguration. drills will begin later tuesday following surface to surfa ce missile firings. the world health organization is warning governments and vaccine makers of the rollout strategy. the general says it is wrong that younger and healthier adults in richer countries will receive shots before older citizens in poorer nations. he says we are on the brink of a catastrophic moral failure as profit is put before people. australia is unlikely to be opening borders this year even if most of the population receives a vaccine. they will maintain tight restrictions with international travel largely on hold. australia is effectively closed to travelers apart from special exam since and all arrivals must

complete mandatory quarantine. covid-19 has devastated air travel and a major loser is london's heathrow, dropping from the top spot in europe. a new airport in istanbul is now the continent's leading up with charles de gaulle in paris and heathrow coming in third. all european airports fell. their combined 23 million passengers would equate to ranking outside the 2030 -- top 30 in a normal year. powered by more than 2700 journalists and analysts in more than 120 countries, i am karina mitchell. this is bloomberg. kathleen: president trump has stepped up his campaign against china in the final days of his administration. now with joe biden preparing to take over, the question is whether he will preserve his predecessor's strategies, relax them, or rethink relations entirely. >> the trade war, delisting chinese companies and banding

transactions with mainland connected apps. some of the policies joe biden must decide whether to overturn. among his decision-making team, incoming secretary of state tony blinken. he's already indicated the pressure on china will continue, at least over the crackdown on democracy in hong kong. commerce secretary gina raimondo is another. mainland mouthpiece global times notes a moderate stance on beijing in the past. and trade rep nominee whose a fluent mandarin speaker and was to confront china over trade practices. joe biden wants unity among western powers amid concern beijing could divide them by providing preferential market access. he could have a tough time convincing traditional allies. the eu is the latest to reach its own investment deal with china. beijing says the plan is to ease tensions. the foreign minister is calling for dialogue to restart. and high-ranking diplomats will

reportedly be sent to washington to export areas for cooperation. if u.s. restrictions are not repealed, beijing is ready. new rules mean the government can prohibit the application of foreign rules to its companies, including those issued by the united states. joe biden says he's not planning any immediate moves. a sign perhaps of the tools used by trump against china are still on the table. haidi: let's discuss president trump's legacy and the challenges facing joe biden with niall ferguson. always wonderful to have you with us. as a historian, how does this go down in history? how do the last four or five years, trump's legacy, how is history going to judge him? niall: i think historians, once the dust has settled, will say

that donald trump did enormous damage to his own reputation and to the reputation of his admi nstration in the final days of that administration. and really, from the moment the election results began to go against him, donald trump went down a course that really we hadn't seen since the 19th century, of course, contesting the election results. throughout 100 years, with the exception of the 2000 election, concessions have been relatively swift in presidential elections. not only did trump contest the election, not only is the a sore loser, but he went beyond the legal methods, the demands for recounts that were within his rights and began to seek an big for constitutional way of overturning the election results. this overshadowed the positive

achievements of the administration. yes, there were some. i think it would be very difficult indeed for historians to say this is anything other than the most disastrous end to a presidency since richard nixon's. haidi: you take a look at the latest approval ratings, 34% -- it's historic in another way in terms of his deep unpopularity if you look at gallup polls. i'm struggling to reconcile this that almost 47% of the popular vote still went to him in the election. you spoke a few days after the capital riots how this potentially brings less polarization in the u.s. i'm wondering how you explained that when you take a look at the numbers? niall: i think the election results has been widely misinterpreted, because i would say that the american people collectively voted for the center ground.

they picked in joe biden mr. center ground. more importantly, many voters who did not vote for donald trump still voted for republican candidates down the ballot in senate and house races, as well as state-level races. that meant the democrats did not have the blue wave that opinion polls have long predicted -- wrongly predicted. won only a very slender majority in the house and they barely won control of the senate because they will have to rely on vice president harris to case a vote when the sides are evenly split. i think the actual election result with the victory in the center ground, it repudiated donald trump, but also repudiated the left of the democratic party whose folder proposals did not -- bolder proposals did not fly with voters. what subs really happened, trump's attempt to contest the

results legally an extra legally has acted as kind of a shock to republicans who must be deeply divided over recent events. polls are hard to read on the events of january 6 with a mop of pro-trump supporters storm to the capital but it is clear only a minority of republicans think that was legitimate. i do think the extremists have lost out on both the right and the left this november 3. kathleen: i want to follow up on that quickly. people say they can understand why summative people voted for trump. a lot of people didn't vote for trump, it is they didn't want to vote for democratic policies in the white house. that is why hillary lost with a lot of voters and it seems like that is why biden lost with a lot of voters. if that is the case, what does it mean for joe biden's agenda as we see it now as he takes over power on the 20th? niall: i think your previous

section touched on a very important point. i think it is highly unlikely the biden administration will turn the clock back on china policy to the days of barack obama. if you look at what the so-called -- kurt campbell will be steering china policy on the national security council has been writing. on china, i think this administration could be just as tough rhetorically as the trumpet administration, perhaps more effective in terms of his methods. campbell is arguing the u.s. should be building a balancing coalition to prevent china's dominating asia. on that issue, i think wearing a historian's hat and saying donald trump for his many flaws did the direction of u.s. policy on china and joe biden will not change that direction back to the way it was under obama. there are other issues where i think trump's popularity made sense. up until covid-19, the economy had been run very hot.

unemployment by the end of 2019 and many voters continue to give him credit for that. voters felt in fact democrats were overenthusiastic about lockdowns and where to align the economy to get back up and running. even if that meant they underestimated the threat posed by the pandemic. i don't think trump's performance in the election was especially surprising. had it not been for the pandemic, i'm certain he would have been reelected. kathleen: in terms of his legacy, until trump came into office, it was common dogma -- free trade is the best thing there is. since donald trump questioned that, we hear more voices. now joe biden and many democrats have spoken out on some of the conditions of trade. the iran nuclear deal which will be a very big question to take up. something people widely can resize donald trump -- criticized donald trump for breaking out of. at the same time, many people have supported the position and

save the u.s. did need to change policy. again, how does joe biden take some of the things that maybe were positive or had an element of positivity and used them to his advantage as he deals with geopolitical questions? niall: joe biden campaigned on a fair trade,. he has made it clear he is not going to take the terms of the donald trump imposed on chinese imports, not in a hurry. there's another example of the continuity we are going to see in policy. but the middle east will be a bowl fast because it is clear the biden national security team led by tony blinken who will be secretary of state regards the iranian deal as salvageable. they want to put it back together again very close to the point at which it collapsed. i think this is a mistake myself because i don't think that deal can be solved touched -- salvaged. i think, nobody wants to admit this, another of donald trump's

successes was to change the directory -- the trajectory in the middle east, bringing reconciliation between israel and arab states who regard iran as the principal threat to their security. this will be one of the things the biden administration gets wrong in going back to its predecessor under barack obama. kathleen: the last time we spoke, you talked about how the end of the post pandemic world, we will be facing a mountain of iou's. haidi: how much has that further developed as we have seen the stimulus package? niall: it is certainly the order of the day. it is clear having won the georgia runoffs, the biden administration will be less constrained than it would have been by the senate. it looks like there's going to be a pretty substantial additional fiscal stimulus, president-elect biden is talking about $1.9 trillion.

this is an extraordinary increase in public debt, which makes sense in the short run when the economy is clearly reeling from the pandemic. it certainly would make sense because i don't see any likelihood of interest rates rising given the fed's current policy stance. but at some point, it seems to me almost inevitable, unless you believe financial history comes to an end, that we will see higher rates. at that point, as the congressional has made clear, the scale of the debt is really going to pose problems. this might not be an issue for 2021, but i can imagine by 2022, it will start to be a concern. unless the fed is simply going to commit itself to financial repression, forcing bondholders to accept negative rates for the indefinite future. if that is the strategy, it will have consequences, not least to the u.s. dollar. i don't think we should kid ourselves that that doesn't matter and there's a simple free

lunch to be had. once the federal debt rises above the level that it reached at the end of world war ii, you are into new and difficult territory. i think this will be a headache for the biden administration, if not this year, then certainly before we get to the 2024 alexion. kathleen: as a historian as basically the whole world, this hope that many have that joe biden having been in the senate for so many years, with people like mitch mcconnell, will be able to work across the aisle. you think of ronald reagan, lbj. do you see any hope yourself that this is what's going to happen? because more than anything, a lot of people think we need some bipartisanship to sort out these issues. make compromise and move ahead in the most effective way. niall: well, yes, i think there is some chance given biden's experience and the personal relations he has with many people on the republican side of the senate, including mitch

mcconnell. but, it is easy to be the master of the senate as lyndon johnson came to be known when you have a master majority as johnson did. when you are in a kind of 50-50 situation, it is a lot harder as president to exert the kind of pressure that was characteristic of johnson's approach to legislation. i think the real attic -- the reality is that is going to be hard for biden to eek out any bipartisan wins, but there are a few issues, infrastructure is one of them, where he might find republicans who are willing to cut a deal. not least because -- the republican party has some incentive to go towards the center over the events of the last couple of months. i don't think on immigration there's any way the things that president-elect biden and vice president-elect harris have been talking about are going to get passed with republicans in the senate. i don't think we should have i

of high expectations of bipartisanship. that would go against the grain of american politics over decades long before donald trump came on the scene. kathleen: managing expectations seems like a wise way to go into this new year in general. haidi: always great to talk to give. stanford university who hoover institution senior fellow and bloomberg opinion columnist, niall ferguson there. all right, coming up, our exclusive conversation with the foreign minister of qatar about the nation's ties with south korea, u.s., iran, and the gulf countries. this is bloomberg. ♪

kathleen: time now for morning calls ahead of the asia trading day with sophie kamaruddin in hong kong. emerging markets fluctuated ahead of joe biden's inauguration so what is the outlook now for e.m. as he gets ready to take the oath? sign on the dotted line? sophie: the head of that, some calls that jp morgan -- the bullish view for emerging markets, favoring stocks over bonds on dollar weakness. a theme which has lost not theme -- which has not lost steam yet. southeast asia prospects remain attractive while value and cyclical plays like hong kong, singapore and india are set to outperform within asia. paul donovan at ubs has a word

of warning, noting that the trend of outperformance from manufacturing economies has rightly to reverse once the virus falls haidi. haidi: also out with a report on the rba. what are they looking at? sophie: the gist is that they expect the rba to keep extending asset buying until the fourth quarter at least, with an additional 100 billion aussie dollars of qe expected over six months after the current program is set to end in april. westpac reckoning this will reign in these yield curve in australia and the bank not seeing a reduction after 2022, with the policy likely to start with qe, followed by yield control and a rate hike. kathleen: sophie kamaruddin, thank you. gulf nations agreed to end the year-long blockade by qatar led by saudi arabia and the uae. the move is partly seen a strengthening regional unity against iran, something

encouraged by the u.s. bloomberg spoke exclusively with the qatar foreign minister who says the gulf cooperation council should work with iran on regional security. >> the time should come where the gcc sit-down the table with iran and reaches a common understanding between the countries that we cannot change geography. iran cannot move gcc away from its neighborhood and the gcc cannot move iran away from the neighborhood. >> is that time now with a biden administration that perhaps may return to the 2015 nuclear deal? >> we hope that what will happen between the u.s. and iran, we hope they are going to reach a solution with us and that jcpoa. that will help between the gcc and iran. of course, everything is

interconnected at the end of the day. >> do you want qatar to be the center of those discussions? oman played a large role last time around. is this something that you see yourself? >> for us, what we want, we want the accomplishment. we want to see the deal happening. wherever it is conducted, we are going to support it. if qatar will be asked by the stake holders to play a role, we would be welcome to this idea. we've maintained a good relationship with the u.s., a good relationship with iran. iran is our neighbor. we have borders together. they have stood with us during the crisis and supported our logistics. i believe there's a mutual respect between the countries that allows qatar to play such a role. but, i'm reaffirming that if any

country is going to play that role, qatar will be supportive for that and will not do anything unless asked by the parties. >> it looks like south korea is perhaps reaching out to qatar for assistance in resolving the tanker and the crew that are detained in iran. what assistance are you providing them, if any? what's the situation right now? >> well, with the south korean tanker crisis, we have received a request by the korean government. we are working on it with iran. and to find a way. they are talking to each other privately actually. they might need qatar's support for the process. they have their own direct link. our response to our friends in korea, whatever we can do to help, we are going to help. we are talking to the iranians.

we hope we can help in facilitating anything. haidi: that was qatar's foreign minister. we have plenty more ahead. this is bloomberg. ♪

kathleen: now for a quick check of the latest business flash headlines. the new automaker formed by fiat

chrysler surged in its trading debut in a more than two-year effort to combine resources. it rose more than 7% as the ticker replaced the fiat chrysler symbol. it rose in paris for the new company listed. the boss carlos tavares will lead a car giant worth more than $38 billion. bmw response to concerns about the price of trips for the auto industry and expect prompt delivery. it is watching the situation closely and reports chipmakers are concentrating and intimate from consumer electronics companies. tesla says it has become the first deliveries of the modely suv built in china. the car can run for almost 600 kilometers on a single charge and can start over $52,000. tesla says it has established a chain of more than 720 charging stations in china which we know is critical for the success of

electric vehicles. now for the latest on stocks to watch as eight is it trading get underway, back to sophie kamaruddin in hong kong. sophie: aside from rio on its production update, after rbc said the risk for the minor will increase over the next few years, most notably with the iron bridge project. raising its price target. on the deal front, keeping an eye on bingo industries after the consortium waste industries offered to buy at a valuation of $1.8 billion. the offer is a 2.8% premium to monday's close. and the banking sector, the cell of general insurance unit is looking imminent. goldman has revised price targets for several australian banks, lower for cba and westpac, while moving higher for anz. keeping a close eye on what's going on and a lot of speculation about the rba might

do given the qe program extending. haidi: all right. coming up in the next hour, we will speak to the former australian prime minister kevin rudd to talk about the u.s. foreign policy direction under joe biden and implications for asia. we have the market open almost upon us. this is bloomberg. ♪

haidi: good morning. we are counting down asia's asia market opens. kathleen: welcome to "bloomberg daybreak: asia." u.s. braces for the end of the trump area -- europe with their years in place. and thousands of troop