haidi: a very good morning and welcome to daybreak australia area and we are counting down to asia's major market opens. shery: top stories this hour, bitcoin had a weekend roller coaster ride with big swings in both her actions. -- both her actions. haidi: european leaders express

outrage, the eu with the response of the summit today. shery: the global chip shortage could worsen as taiwan faces a vaccine shortages covid-19 cases continues to rise. the picture across wall street, we are seeing futures among a little bit of pressure. investors shifting into value favorites. still, for the week saw the mastec 500 ending in the green, the s&p 500 finished in the down. treasuries holding at the 152 level, a little changed from that. we are also seeing it come higher after the worst week in over a month. the potential impact of a neuron deal. take a look at bitcoin right now, under a little bit of pressure. climbing more than 8% on saturday before reversing course to some 11% on sunday. we are watching that very closely.

haidi: let's take a look at how the asian markets are shaping up. kiwi stocks, watching keenly this week. we see really going into the rate decision, knowing that it could change the policy. certainly look at the slowdown in bond rushers. the inflation will growth outlook. the start of trading in sydney, seeing a little bit of a decline when it comes asian interest. still, that market is trading close to a record high chicago nikkei futures, downside going to the start of trading in tokyo. a big week in asia, number of central bank watching the bank of korea as well as indonesia. also, a final note on gold, saying where that goes after the third straight week with again. inflation moves in the u.s. dollar as well, concerns with virus flaring up in some places of the world.

the demand for precious metals. let's dive into more details on the wild weekend. crypto, bitcoin funding on saturday. plunging is much is 18% on sunday. the digital coin, meanwhile crypto exchange is scaling back or suspending some of its services. 18% moving bitcoin, just another day for bitcoin, what are we seeing and the latest round of all the? -- in the latest round of volatility? >> for experience investors in the coin. but a lot of new investors have never seen this kind of dustup another stomach turning ride for investors, because of the extreme volatility that we saw last week. caring through the weekend we saw, moves in double digits almost either way. last wednesday alone, the price was at least 30% in either

direction. of course, one of the kickoffs of the latest round of volatility had do with elon musk tweeting that he was no longer going to accept it coin as payment for his cars. we also have the chinese government talking about a crackdown. reiterated on friday, which intensifies the slide. reiterating a warning that it intends to craft -- intends to crackdown on crypto mining. must said over the weekend he supports crypto in the battle against the yacht currency. but, this news that is now passing has renewed some of the selling. if you go to the bloomberg, you can see some of the worst weeks and therefore months for bitcoin. to put it in perspective though, while we haven't seen bitcoin down as much as 50% from its peak, it is still up more than 25%. just in the past year. and dogecoin, also down 15% at

one point, up several thousand full from where it began. as many investors are repelled by the volatility, those kind of gains, that is retracting retail level which the experts say is some of the most recent speculation we are seeing. shery: tell us more about the move, a possible fix in the works for the energy issue. >> let's start, what we are hearing, this is a report coming out of coined, which says it got it directly from the crypto exchange, it is scaling back many of its products in some markets. following the warning from the chinese government that it would crackdown on the currency mining. it is suspending hosting, mainland china. it, however will not be stopping the sale of crypto mining

machines to get all of that, according to coindesk. as we know, what really kicked off a lot of the concerns, which elon musk much forward, -- pushed forward, was the energy use of many cryptocurrencies mainly bitcoin. users and developers of a big rival to crip -- to bitcoin, which we have seen perform better in recent weeks, is ether, finally enabling them to cut energy use in one year last. bitcoin and a theory him requiring a global network of computers running around the clock. a lot of people say there is a closer fix at hand. shery: the latest on bitcoin and cryptocurrency in general. we do have an alert on the bloomberg right now. japan saying the country plans to extend the virus emergency beyond that deadline of may 31

remember, the prime minister actually declared and extended that state of emergency for tokyo, osaka and other prefectures. what that means is restaurants and bars are told to close by 8:00 p.m.. other restrictions are in place. all coming at a time we are headed to the tokyo olympics area the national olympic committee executive on friday, the tokyo olympics must go on despite the fact that we continue to see the states of emergency around the country. a scout -- let's now get over to vonnie quinn with the first word headlines. vonnie: thank you, sherry. the interception of an airplane flying from athens by belarus is military. violation of travel protocols led to the plane enforce to land in. local authorities boarded and arrested a journalist. before the flight was allowed to eventually resume.

toronto's likely to temporarily extend the nuclear agreement expired over the weekend. a rainy and state tv -- iranian state tv reports washington's return to an abandoned 2015 nuclear record, and removal of trump era sanction within 30 days. antony blinken told the u.n. the u.s. was prepared to return to the original deal. an egyptian court has rejected an appeal to allow the giant container vessel to block the suez canal to leave the country. they're claiming more than $900 million in damages from the japanese owners from the ever given, which was stuck in the canal for six days in march, wreaking havoc on global shipping. the demand is inflated. another hearing is set for mates tonight. taiwan saw a steady increase in covid-19 cases over the weekend

with help authorities reporting more than 600 new cases. confirmed cases among employees and chip factories are raising concerns about potential production cuts. past daily totals are also sparking questions over the government's ability to ramp up testing. australia's government has reportedly promised enough pfizer vaccine to inoculate the entire country by the end of this year. 2 million pfizer doses should be available in australia each week, starting in october. health minister told the paper that for a half million pfizer shots will arrive by the end of june. 7 million more expected in the third and fourth quarters. global news 24 hours a day, on-air and on bloomberg quick take, powered by more than 2,700 journalists and analysts in more than 120 countries. i'm vonnie quinn. this is bloomberg. haidi: still ahead, blockbusters likely had another week showing

at the box office. coming up next, the market outlook for capital management, tells us where she is looking amid elevated valuations of inflation. this is bloomberg. ♪

>> gold has been the primary asset of that kind for a long time. and, i think crypto has a chance of becoming an agreed form of people who are looking for safety hold well in. my guess is that crypto is here to stay. and probably here to stay as a kind of digital gold. >> bitcoin as the new digital

version of gold has been rallying. i think bitcoin will surpass gold in three or four years. shery: reagan on the future of bitcoin. has been a roller coaster ride in the cryptocurrencies base, that has led to more volatility space and greater inflation risks. let's bring in a partner and portfolio manager at capital management. would you make of those comments about digitalglobe -- digital gold? we even have skeptics thing they are not investing yet but there could be a place for crypto in the future. >> good morning, good evening. right now, the last week or so has taught investors that it is a very volatile asset.

that should serve as a warning. there are obviously some risks coming to the fore. whether it is eminent -- whether it is energy consumption, the farmer said our theory him is making. also regulatory, china has made it very clear they will not be welcoming transactions using crypto. the u.s. central bank and other central banks around the world are starting to step in. you might see regulation come. the underlying technology of blockchain, which enables these currencies, is itself very in trysting -- interesting. in the business of banking and the business of financial transactions. we have to continue to consider the fintech growth opportunities that we find very exciting right now. whether that is something well-known like a paypal, or something less well-known. there are a lot of changes going

on in innovations, cryptocurrency certainly one of them. right now, it is a speculative and volatile asset, not for the faint of heart. shery: what about the giant tech names that have stretched valuations? because it seems that a lot of investors have been dumping them given the inflationary risk. >> we have certainly seen a lot of them pull back over the past month. look at the bank stocks and tesla, they have not done particularly well this month. the higher inflation risks that we are seeing, some people are a little bit worried that the rising commodity prices and other price increases they are hearing reported could suggest higher inflation longer-term. the fed is saying this is transitory. it is something to watch, but it has pulled back with high multiple stocks. in addition, we are also seeing people rebalance. because the global reopening, as uneven as it is across the world, is really a very

important in investor thesis right now. investors should take care to make sure they have exposure, not just to growth names, secular names, but reopening names. whether it is a retailer that suffered more last year like a t.j. maxx, or whether some of the bank stocks which continue to improve in their operations as the reopening continues. lastly, i would say, make sure to look at international diversification. the rise in the dollar over the last year or so is likely to reverse to some degree. particularly if inflation does pick up here. there are ways to insure against the inflation risk and also to gain exposure to the global reopening. get some international diversification by being short stocks out of china, asia, japan and even south america. which is really lacking in his control of the coronavirus. but might offer a tailwind later on as it reopens. there are number of ways to get

schooled speculative growth and reopening growth as we like to call it. haidi: if you are trading volatility, talk about a complete opposite. i want to throw up this chart, index futures have been trading. over the past 5, 6 weeks, we have essentially gone nowhere. one week tends to track what we saw the previous week. they have been within about a 10 point range. what are we looking for in terms of direction for the next catalyst one way or another? >> i think it is likely to be pretty mixed. the flatness of the s&p tells you that. the high flyers that dominate the high-end, the highly rated stocks in the s&p, i wouldn't want to make a call on the s&p as a whole. but i would say, a lot of volatility with the reopening plays, to continue to do well,

even as investors continue to do battle, they move into more of the rebalancing and reopening ways. also, get out of the way a little bit of the rest of the higher interest rate. it will be a mixed market over the next several months, until we get more information about what really happened with ration and how the stimulus checks in the u.s. affect the spending there. also, how the coronavirus really progresses in areas of europe, south america and asia that are really still struggling to get it under control. haidi: that final point has been leading to another reemphasis of u.s. and u.k. exceptionalism. if you're looking for opportunity in asia, where are you looking given that there are subsequent ways of the authority trying to get under control. >> one way to take advantage of

an ongoing opportunity, despite the waves of coronavirus, is to get invested in stocks that are helping people survive. to continue to live through the virus. go back to fintech, go to e-commerce, whether it is a by deal or and alibaba, singapore, these are all companies that will continue to do well even if the virus takes longer to get under control. haidi: always great to have you with us. coming up next, drama and the european skies after belarus's military forces a flight to land and its territory and arrests a journalist critical of its president. we have the latest, next. this is bloomberg. ♪

haidi: iran air flight has landed in lithuania after authorities in belarus landed at there. it they arrested a journalist who had been critical of the prime minister. which we know about the events that took place in the air and of course with that landing over minsk on sunday? and what is being debated as the reaction and the outcome? >> this was really one of the more shocking geopolitical events in recent memory, i would say. european governments have reacted shockley and with unified outrage. the flight to lithuania was going through belarus and airspace when there was a notification that would imply there was a security threat.

the flight was accompanied to the ground by a jet. what seems to be, is that this was a fake bomb threat to get the plane to land on the orders of belarus is president. who is an ally of russia's putin. and must be terrifying for some 170 passengers on board. ultimately, the flight was able to go on to lithuania, only after a journalist who was critical of the president was arrested. the eu is outrage. they called for the journalists release immediately. grease and others have called this a state-sponsored hijacking. there was outrage from brussels, likely to have sanctions against the belarusian government. you can probably expect to see a call for more.

shery: where does the u.s. stand on this, given that we are potentially headed towards a fourth summit between president biden and president putin as well? >> so far we haven't heard much from the u.s.. we have heard a little bit from various u.s. lawmakers and the u.s. ambassador to belarus who called the incident dangerous and abhorrent. that would be the u.s. is view. to expect to possibly hear from state department officials later today, something from the secretary of state, tony blinken. we believe the state department officials made close contact today with brussels and athens. to get something from the state department, and haven't heard it yet. given the close ties between russia -- between belarus and moscow, it throws more shade on the potential for a boot hiding

-- a prudent biden -- a putin biden summit. shery: take a look at what bitcoin is doing right now, it is now down about 15% from its peak earlier in the year around april. we have seen a continuous fall there, and of the drawdown that we saw this month alone. remember, we had a series of tweets elon musk. recently, we just heard that he tweeted this is a true battle on the balance. he supports the latter, which led to upside per bitcoin on friday. you saw the drawdown on sunday as well with a fall of around 11%. 30 days of high volatility in bitcoin. more volatile than the s&p 500, also surpassing the measure in a number of futures as well. we are watching bitcoin closely as we continue to see that down chi -- that downside pressure, a

60 percent fall from alaska. a quick check on the business flash headlines, asset management is nowhere near defaulting on its $20 billion offshore bonds. they say the state owned asset management company would not be allowed to default by the finance regulators. earlier in may, there were plans to dispose of the assets, inject liquidity and receive government support. hong kong says it is evaluating its ability continue operating with a growing concern after the pandemic nearly wiped out the fruit business. it is reported a net loss of $1.7 billion for 2020, while liabilities exceeded assets by more than $3 billion. the company has said it may consider additional measures to improve its finances. set to have terminated its deal

on alibaba's cloud. the dow jones reports it bought servers from alibaba would end in the relation ship. alibaba reported slower cloud revenue after one unspecified top clients cancel its contract. bloomberg has learned that indonesian airline needs to read -- needs to completely restructure its business. it expects no more than 70 aircrafts down from 142, including low-cost carriers. only 41 aircrafts are currently in service, they are in initial stages of offering early retirements to employees. we have a big interview coming up, adam reynolds joins us exclusively to talk about the crypto strategy. this is bloomberg. ♪

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vonnie: you're watching daybreak australia, i'm vonnie quinn the first word headlines. president joe biden says he will not allow an action to upend his infrastructure plan. a white house aide says biden will change course if it becomes impossible. senate republicans last week panned his $2.7 trillion revised. republicans want spending to be confined to highways, bridges and air it's rather than biden's

broader vision. a judge has ruled the lavish lifestyle of elizabeth holmes can be presented to jurors in her upcoming trial for alleged fraud. prosecutors say it serves as evidence she had incentive. she touted ferrer knows as a rut pollution area blood testing technology, started out valued as up to $9 billion. digital yuan will not challenge the u.s. dollar status as the international reserve currency. development of monetary and -- monetary instruments could be used for payments. they have no intention of replacing it. china is likely going to be the first major central bank to issue a digital version of its currency. new data shows an extended slowdown of the spread of covid-19 in the united states.

the country recorded its first week since june with infection under 30,000. the cdc warned, however, that under vaccinated areas could become hotspots for the mutation first detected in india and says it is increasing surveillance. malaysia said it will begin enforcing stricter curfews this week to contain a surge in covid cases without forcing a nationwide lockdown. the country's defense minister says starting on tuesday, businesses will only be permitted to open between 8:00 a.m. and 8:00 p.m.. 40% of private-sector employees will work from home. global news 24 hours a day, on-air and on bloomberg quick take, powered by more than 2,700 journalists and analysts in more than 120 countries. i am vonnie quinn. this is bloomberg. haidi: we are getting an update when it comes to the u.s. reaction to that diverted

flight. we are now hearing from antony blinken, the arrest of the journalist, the united states has strongly condemned the diversion of the flight between two eu member states. and of course the subsequent removal and arrest of the journalist in minsk. the u.s. has demanded its -- his immediate release. this is the u.s. strong condemnation of the belarusian divergent of that flight. which of course has been a geopolitical occurrence we have seen in the eu, of course emergency meetings and discussions being held to see with the european reaction will be. but that is the u.s. reaction coming through from antony blinken. shery: following combination --

following condemnation from european countries. we are also watching taiwan very closely right now because of the coronavirus outbreak. new infections threaten further restrictions, which in turn could impact already squeezed global chip supplies. we are taking a closer look, what are the key development we need to know right now? >> there is a lot to unpack here. it is a key week in taiwan as we get more infections reported over the weekend. more than 600. also revisions of the past weeks data, a lot of questions to people about the reliability of the government tracking and the government data. all of it is exacerbated, i'm not saying it's a perfect storm yet but it has the potential of being the perfect storm in taiwan. because you add up all of these different elements including the shortage, extreme shortage of vaccines, almost nonexistent so

far. astrazeneca has shipped about 315,000 doses. they are still waiting from shipments from a dharna for june. they are also appealing to the white house to get some of those 20 million shots of the biden administration has pledged to send around the world. there are surging cases, there are lockdowns threatening to go to level four, which would of course forced businesses to shut down. which raises the questions, key chipmaking industries, with a be exempted? that is a big question. of course, that would throw the global chip squeeze we talk about into question even further. all of this estimated by a drought of taiwan. i talked about a perfect storm getting close to there. getting new cases over the weekend.

it did dip below 300 for the first time yesterday, 353 on saturday. again, we have to watch whether this moves beyond the key capital of taipei into the chipmaking sections. the central part of the island. if it does, and it goes into the clusters of workers, and we have a bigger problem. haidi: politics, how does that fit into this? >> there is always politics involved here. keep in mind, a virtual gathering of the health assembly later today. taiwan and said -- taiwan is said to be making a last-ditch effort for participants. the united states has been urging taiwan's inclusion, which beijing has blocked. there have been politics in the last few weeks. beijing has said, according to state media, and has made

appropriate arrangements for taiwan percent -- for taiwan for dissipation. he accused china of spreading shameless lies. we are also hearing from state media that beijing has renewed its pledge for distributed biontech vaccines to taiwan. we are not sure if that has been made. this is something that taiwan rejected. early on this year, we rejected it based on the vaccine, choosing instead to go directly to the german manufacturer. that has left taiwan extremely short of vaccine. enough vaccine to cover not even 1% of its population. haidi: stephen engle there with the latest. staying on the virus and the vaccine rollout, the australian government is promising it will have enough pfizer vaccine to have everybody in the country

vaccinated by the end of the year. the rollout has been slow, pushing back timelines for the reopening of international borders. the health minister was controversial when he said if you're not comfortable getting the astrazeneca, you can win for the others, including the pfizer. is everybody going to have enough to go around? paul: if you do it, there is no guarantee you would get the vaccine of choice. at the moment, the pfizer vaccine is being offered to people under the age of 50 and over the age of 40. there are four and a half million doses arriving by the end of june. currently, if you're over 50, you are only eligible for the astrazeneca vaccine would some people have been willing -- unwilling to receive due to the widespread coverage of sun -- of some instances of blood clotting. we hear doctors on the media saying the risk of clotting is probably greater if you don't get the vaccine and you get

covid, so there is a balance of risk to assess there. all the confusion has slowed down the rollout here. people over 50 are being told to wait, but if you do wait, you may or may not get pfizer. this is going to have implications for international border reopening, and big drivers of the australian economy. haidi: we're hearing now probably not until the matter of next year. -- the middle of next year. paul allen in sydney with the latest on the vaccine rollout of the virus situation here. the international monetary fund is expressing to accrue $650 billion in new reserves by the end of the quarter. developing nations behind the pandemic quarter -- but henan -- pandemic recovery. they're also working to improve the transparency of how it is used. she was speaking to david westin. >> what you recognize, is that

we are not going to see full economic recovery until we are out of the health crisis. and we asked the question, what would it take to vaccinate the world population by the end of this year at the level of 40% and by mid next year at the level of 60% that would bring the acceleration of recovery everywhere? the answer is, one, we need to inject upfront financing in covax. this is the facility that helps developing countries bring vaccines to their people. we have to fund it. now. not make commitments for the future. we have to get countries with access vaccines to make, now, a commitment to release what they don't need for their own people. so it can be integrated in

vaccinations for the development -- the developing world. very important, recognize that there may be problems down the road with mutations and booster shots necessary. so, plan to overproduce. expand production capacity and diversify the production capacity. allow the slow materials and vaccines to be executed around the world. last, but not least, while we are boosting vaccinations, make sure developing countries can test and trace covid cases and that they can prepare for vaccinations for the vaccines when they arrive. so, when you look at the three blocks, step up support for developing countries now with money and excess doses. boost production capacity, and overshoot so we can cover the

world more effectively. and, prepare developing countries to receive the vaccine to protect their people. meanwhile, we came up with a price stack of $50 million. of which we believe 35 billion should be grants. poor countries need help. 50 billion funding. now, the most important message of our proposal is a coordinated effort up front. it can bring enormous benefits between now and 25. the world economy can benefit $9 trillion if we accelerate the exit from the pandemic. of which 6% will go to the developing world. 40% to rich countries. for those who wonder if this is

a good plan, advance economies, rich countries, can collect $1 trillion in extra revenue because we accelerate the recovery everywhere. and, that is at this point in time the best use of public money one can think of. david: that is an attractive return on investment no matter what use they can about it. -- no matter what you think about it. we watch what is happening in india and brazil, it has to be now. we don't have any time to wait. can you get the $50 million now? how long will it take to come up with that kind of money? >> i am encouraged by the discussion of the global health summit today. because, we heard from many countries, step up commitments in financial terms and also in

reallocating access vaccines. and, i can tell you we will continue to press through the meetings that are forthcoming. g7, 20 meetings. to make sure this is happening now. haidi: time for morning calls ahead of the asian trading day. gold falling back to that $1600 an ounce level. they say trading inflations are private. highest government bond yields. in rising vaccination rates will reduce uncertainty. they expect the u.s. dollar to peak as well. feel demand an iron oil prices, commodity strategies have a lower pace of feel demand and the second half due to policy tapering in china, and also potentially slower growth in u.s. consumer goods demands. she said that will shift the market into a surplus in the fourth quarter, and may mean iron oil prices will peak this

quarter before falling by year-end. haidi: coming up next, no new blockbusters will likely need another week showing at the box office. we will discuss the recovery process. that's next. this is bloomberg. ♪

haidi: let's take a look at the latest breaking news, including in laois and, the first quarter number coming in at a pretty big rate, to a half percent. consensus expectations were for a contraction of one point 8%. that is certainly a bounce back from the previous period of 2.7%. that is 2.7% retail sales, coming out a week, policy meetings we are not expecting any adjustments but certainly expecting to see a discussion about the quantity of bonds, and a number of analysts seeing a stronger case for tightening sooner rather than later. studios and cinemas are trying to draw people back into theaters. box office is inspected to plunge with no big release, the

industry is arguing the work cannot be enjoyed to the same degree on a small screen. always great to have you with us on bloomberg tv. tell us, how is the recovery going given the levels of vaccination we are seeing? the general perception of people opening up and getting to some semblance of normality. >> you have to the -- you have to add to the question what area of the world. and asia, and has been open for a long time area in china last year, they were the leader of the highest box office in the world. the chinese new year this year was up early percent from 2019. that box office is booming. japan had two of its largest movies. the two largest movies of all time. they opened up with limited capacity in japan. taiwan, south korea has been very good. obviously, places like the u.s.,

europe have lacked behind. but this weekend is a pivotal moment. what universal did in the u.s., they released a movie one month earlier in asia then they introduced in the u.s.. the fast and furious group of movies. it had a fantastic opening in asia, over $160 billion. we hope later in north america, i think the city is trying to adapt to this kind of environment by staggering and opening where it is safe. i think it would prove this weekend, that where it is safe, people want to come. haidi: you talk about the recovery in asia being first out of the pandemic, but we see in japan, seeing with ways of the virus. planning to triple the number of screens you have a japan by

2024. are you concerned that the prolonged virus situation, the longer than expected vaccine rollout is going to need that the appetite for returning to cinemas will be structurally changed at the upside of this? >> i don't see that at all. again, i have data. i have heard that narrative before, but if you look at the data, where it is safe and where it is open, this pent-up demand, people are dying to go to the movie. in fact, look at this weekend. for us, it was the largest opening since before the pandemic, internationally. there are people coming out. of course, you can always find places where it is a little bit better. but, when you look at vaccinations overall, look at the united states for example. new york and los angeles were totally closed until a few months ago and now they are both on track to be 100% open.

godzilla versus kong open in the united states a few weeks ago. it did over $150 million. people are coming back. so, yes they're obviously outliers but the trend is extremely positive. people really want to go to the movies where it is safe. shery: when you expect to get back to pre-pandemic levels given the you ask got a record $1 million in global box office in 2019? >> it is not going to be -- if you look at a whole year it will not likely be this year. because we are halfway through the year and just starting. i would guess 2022. when you look at the slate for the rest of this year, because a lot of the films words released during the pandemic, you have amazing films coming up. black widow, three other marvel movies coming up this year. you have a lot of things.

next year is even more credible. mission impossible, spider-man, avatar sequel. you have, again, another three marvel movies. jurassic world, i can't even remember all of them. i think, 2022 is going to be a very big year. shery: will it hurt that some of these movies will also be released at the same time on streaming devices? >> you are seeing the remnants of the pandemic. the pandemic because a situation where theaters were closed, and the only way films could be released was through streaming. a lot of companies did that. for example, warner bros. did a dual release strategy and 2021 because of the pandemic. but, they have announced that all of movies in 2022 have a 45 days streaming window. albeit the act: movies.

sony has announced a 45 day window. universal has announced a streaming window. disney is still in the middle of sorting through the pandemic. cruella opens next weekend in the united states. that has a simultaneous strategy. disney has announced a number of movies opening later in the year that have a 45 day window. a quiet place also opens next week, that has a 45 day window. you are looking at it at a point in time when you are transitioning to a pandemic. i think with the remnants of the pandemic, as the pandemic fades, we likely saw this week on f9, we will see much more windowing when it seems to be coalescing around the 45 day. haidi: there are concerns about

vaccination levels plateauing. how much of your outlook, the positive outlook relies on vaccination in the u.s.? >> it depends on the country. some of the asian countries have a different approach. the box office has been very strong area in the u.s., almost everything is opening right now. i think they are forecasting a vaccination level in the 70% area, 70%, 80%. there is a study done by a firm called an r.g.. 70% of the people feel safe. an r.g. is said to be 80% and the next few weeks. if your member the people going to movies, millennials, younger people, they will feel even more safe, that is where most of the movies are geared.

the current pace of vaccinations will be very positive for the industry. shery: thank you so much, we will have to leave it here. plenty more ahead, this is bloomberg. ♪

shery: you are watching daybreak australia. later, we will hear from christopher poe and our new interview series, generation next. plenty more to come on daybreak: asia. this is bloomberg. ♪ loomberg. ♪

haidi: very good morning. i am haidi stroud-watts. we are counting down to asia's major market open. shery: i am shery ahn in new york. welcome to "daybreak: asia their asian stocks open the week mixed. beijing dealt crypto a blow vowing to clampdown on mining and trading. the global chip