♪ caroline: -- >> welcome to daybreak australia. >> we are counting down to market open. >> from new york, the top stories this hour. u.s. stock software, worst flop in a month amid lockdown concerns. chinese avr's fall as beijing regulations spook investors.

>> the rise in covid in new zealand. some say tightening policy would be a mistake. >> the taliban vows afghanistan won't be a terrorist safe haven. the u.s. as they promised a safe passage for evacuations. u.s. futures under pressure. record highs snapping their winning streak. the dollar seeing its best days in a month. weak eco-data. homebuilder sentiment sinking. retail sales fell in july by more than forecast. economic concerns being felt in the oil markets right now. we are seeing crude at $67 a barrel. after falling again in the u.s. session for a fourth session, the longest losing streak since march. investor data seeing its

strongest month. it has been patchy when it comes to eco-data. it was all to do with retail numbers. look at this chart, this is the retail industry sector for the s&p 500. it had its worst day since may. this as we continue to see clothing and other discretionary retailers taking a big hit from not only the covid boom but higher prices. consumer sentiment plunging to a low. home depot today, sales missing estimates. retail sales numbers showing online shopping contributed to the myths in the data. we have seen that already being forecast by amazon and walmart that talked about slowing e-commerce growth. high v -- chinese avr's fell for a six consecutive session after regulators put out a draft rule

banning unfair competition among operators. this is what cathie wood had to say. cathie: china has made it a priority to invest in innovation. i am wondering if something is changing there. every month there has been some new form of increased regulatory oversight, crackdowns, social engineering, nationalizing online education. it seems like that could be contradictory to their desire to become one of the most innovative countries in the world. >> of course, as we continue to monitor those, what these top investors are doing when it comes to adjusting their portfolios, we are also watching liquidity when it comes to the treasury market. as we look ahead to jackson hole , any messaging of the pathway of monetary apostle -- policy

and tightening. we are seeing one sign on liquidity, the impact of each trade and the footprint on its ability to move the market is shrinking to the lowest in about five months. that is one interesting signal we are watching out for particularly as we expect more volatility in the treasury market. >> ahead of that jackson hole meeting, we are watching for weathered chair powell will say anything about monetary policy. he was speaking at a town hall and did not mention anything in detail, just said the pandemic is moving an extraordinary generation and continues to cast a shadow on economic activity. because of vaccination rates slowing, falling behind relative to other countries. all eyes on jackson hole next week for clues about potential tapering. >> you'd talk about vaccination, children remain the missing puzzle piece in the u.s..

schools going back, so many -- amongst young people being reported. we are seeing the vaccination issue front and center when it comes to return to work. morgan stanley, the latest of big wall street institutions, stepping up efforts to make sure their employees comply with the rules they be vaccinated to enter the building. 90% of the workforce in new york had promised they would be fully vaccinated the firm now telling its staff they need to provide documentation by october 1. we are seeing incrementally these measures to try and reduce the impact of the delta variant, which we know has affected even fully vaccinated people. let's go to vonnie quinn. >> good morning. the taliban is pledging to build government and protect women's rights within the bounds of

sharia law. also promising to prevent the country from being used as a terrorist safe haven. civilian and military flights resumed the day after desperate scenes at kabul air force. the more moderate approach is in sharp contrast to their prior debt -- prior stint in power marked by ultraconservative policy that saw some women executed for breaking laws. european leaders expressed frustration over president biden's decision to pull troops from afghanistan. chancellor angela merkel said the mission there was fundamentally dependent on the united states. emmanuel macron stressed the taliban took kabul from biden's forces with no resistance. in new zealand, the prime minister puts the country into a three-day lockdown after the discovery of the first locally transmitted instance of covid-19

since february. cases a 50-year-old male from auckland. -- schools and public venue closures. she says she expects the infection stems from the delta variant. south korea wants to have 70% of its population vaccinated by the end of september. boosting rates as cases surge. the prime minister at the forefront of pandemic policy tells bloomberg exclusively that the government will keep funneling aid -- by social distancing and do all that can to avert lockdown. >> one of the reasons we think south korea has succeeded in prevention is because we did extreme measures like lockdowns. global news, 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries.

i am vonnie quinn, this is bloomberg. >> concerns the economic recovery will lose momentum amid the resurgence of covid. u.s. -- chinese stocks slumped. let's bring in kriti gupta. >> retail sales and a warning from fund managers, then of course you have growth concerns from the variant starting to reflect corporate earnings at the same time they were starting to see fiscal stimulus impacts wayne off. a lot of big risk off mix when it comes to the delta variant's impact, and the federal reserve and fiscal -- giving the government culminating in a risk off day. >> chinese adrs also following. what does this entail for

investors? >> two major pieces. you see a 4.5% decline in the nasdaq golden dragon index, the index that holds a lot of chinese listed companies. i want to mention this is a tech heavy index. you are seeing a lot of scrutiny in china, scrutiny focused on the tech sector. now spreading to entertainment, the chinese revelatory authority talking about targeting -- culture as well as virtual opium sectors. also targeting unfair competition rules online as well as e-commerce rules which will also seep into u.s. companies as well. a risk off mix in the u.s., but a lot of that coming from china. >> how about the pressure tech companies are feeling compared to global tech? >> the divergence you see, u.s.

tech versus china tech. that gap is diverging quite a bit. you saw it today with cathie wood's comments but also a lot of major hedge starting to pull out. chinese tech was seen as the best of both worlds comes to recovery. on one hand because of tech exposure you have growth, but you also have values cyclical because it is a chinese listed company, so you did kind of get the best of both worlds. right now, it is hurting investors in that sector on both ends. even compared to european tech, which -- chinese tech is not doing so well. >> kriti gupta there. let's look at the asian session. in hong kong, do we see risk aversion playing out?

>> pull up the chart. i want to show you what is going on when it comes to equity performance. after a four day losing run for asian stocks, china leading tuesday. we are seeing regional and -- widen its performance. u.s. stocks as well as peers in europe. we have that picture certainly getting more cautious. fund manager survey has showed us we are seeing investors turn more defensive, shifting allocation toward health care and utilities while trimming their inflation exposure. that chart just to illustrate the widening gap we are seeing against u.s. and europeans. switching out the picture right here, as new zealand locks down, the scope -- the discovery of a single covid case with yields and swap rates as markets and pricing tightening.

you can see them backing off of that. they are still expecting a rate hike of 25 basis points. we are seeing cautions wrap up given the growth profit expectations are sinking while the outlook for the dollar share has turned more positive but the first time since november 2018. we do have jp morgan saying we see upside for the greenback on a growing chorus of more hawkish --. >> we have more markets to speak up. her outlook on the opportunities in emerging markets. plus, south korea prime minister says not resorting to lockdowns has helped the nation do well in fighting covid. we will bring you that exclusive. this is bloomberg. ♪

>> u.s. futures extending declines amidst concerns of the delta variant. patchy economic data. amid the volatility, our next guest is finding value in emerging markets. let's bring in alyssa corcoran. great to have you with us. let me get started with this chart. despite the fact you are positive on emerging markets, we have seen them underperform global markets, the s&p 500 in particular at a two decade level of underperformance. why are you so positive? >> two decades of underperformance is exactly why we are excited about emerging markets.

they are our price for not perfection. very low expectations baked into share prices. we are finding you can buy high quality franchises, markets have been growing over the last 20 years and we can buy these high quality franchises for half, one third of the price you would find in the u.s., the equivalent type of business which is why we love -- we are value investors. we are always on the hunt for finding a dollars worth of value and buying it for $.50. >> given the rise of the delta variant, not to mention more measures coming from the fed, what is the time horizon for you to actually make some money? >> good question. for a long-term investor, we are buying these businesses and we are owners of businesses. when you have upside like we see in russia's are just utility

companies, one of the world's largest utility companies trading at eight times earnings, 60% book value, 7% dividend yield, you can still make a lot of money even if share prices remain depressed. we think that these stocks will go up three or four times so even if you have to wait a decade, you make a very strong return. that is important. the other thing to note is that volatility is actually opportunity. you could have a stock that does not go anywhere, but is extremely volatile. when you add actively, you can make a positive contribution. we have several examples of this. over the last 10 years we have been investing. >> -- is one of your picks. according to bloomberg, we are seeing the evidence yield grow.

is that one of the key reasons? talk us through the valuation argument for this? >> new craft is one of our largest holdings. dividend yield is not why we own them. we think that earnings are expected to go much higher than they are today. hopefully the dividend yields -- as well. the gold mining companies in general have fallen 50% to 60% from their highs in 2011 despite the fact that the value for coal has gone up since 2011, the monetary basis up nine times, doubled in the last year. this is very positive for gold. gold miners have not reflected this, and neither has the price. gold price has been down since 2011, minors are down further. new craft, even if you use current prices, is trading below

liquidation. we think gold does go higher and as a result you want to own a company that has decades worth of resources and reserves. you want to own a company that has a strong balance sheet that has good management. throughout the market and created value over the years. that is one of many reasons why we like it. >> i want to get your advice on -- because that market is -- chip stocks in particular. there is one korean stock that is key to your portfolio as well. >> korea telecom is one of our large holdings. again, it is the high quality business where you can find an equivalent u.s. stock for much cheaper. this is the verizon of south korea. your that you are buying this

business for 1/10 the price per subscriber. it is trading well below replacement costs and is trading at a single digit earnings multiple, despite the fact it has -- the margins. we think if -- makes the margins we see across the globe and silicon companies, the stock will go up three to four times. in the meantime, while we wait, this company has a 4% dividend yield. the opportunity cost is low. >> alyssa cochran, director of research. great to have you with us. breaking news when it comes to earnings, front and center in australia, we got numbers. surfside at -- we first have

underlying profit at $354 million coming through from woodside. this comes against the backdrop of bhp and woodside entering that merger. bhp holders would hold 40% extra of woodside after that was announced. we started looking really to beef up oils and gas assets with bhp to merge its oil and gas business. potentially becoming one of the world's top energy producers. we continue to watch that stock. hearing from woodside's meg o'neill and andrew collator. -- andrew cole later. lots of conversations and plenty more ahead on bloomberg. up next, bhp unveiling its massive overhaul, announcing that sale of woodside. we get our conversation with the

ceo mike henry just ahead. this is bloomberg. ♪

♪ >> biotech and pharmaceutical giant in australia declaring a four year net income of $2.3 billion. global sales just sort of $10 billion. full net income just overestimates. a final dividend per share being declared of $1.18. more than the one dollar seven sent your on your. they are seeing a constant transaction of $2.15 billion to $2.25 billion and giving some look into the forecast as well is the maker of astrazeneca.

it is the third biggest country listed. one to watch of the open. let's get to the second-biggest company. chp group having unveiled its sweeping change since the money giant was created. ceo mike henry spoke with us about the plan. >> the demand picture remains strong off the back of a healthy underlying chinese economy. is not just china, economic recovery is underway in markets around the world. strong economic outlook and there has been supply-side constraints, which has helped support pricing. we expect to see more supply coming online, recovery out of brazil and maybe a little out of australia. we are not calling for current levels of pricing to continue forever but for the time being we are seeing a healthy overall market dynamic for iron or. >> where you see a super cycle? in what commodity?

>> our long-run thesis is we are going to see strong demand for the commodities bhp holds. copper, coal, pot ash, even high-quality coal is going to be important because of the role they play in steel which is leveraging the electrification and so on. we bring that into the near term, we are seeing strong economic growth globally. very supportive government policy, we are seeing at bode well for the near term for commodities. >> one other thing in the release we haven't gotten to, i want to get your understanding, that comes with a unifying will list you had in australia and the u.k.. you are in the u.k. and you are going to tell me the u.k. is important, but this -- the decision of -- you can't own it because it can't be in blue-chip, what are you thinking

of what your share halo -- shareholder voices going to be? >> we continue to see shareholders as being very important. i want to see as many of those continue to hold bhp, and most of them continue to hold bhp going forward and they will do that either through directly holding in australia or the secondary listing in london. could there be shareholders that force sellers? yes. but shareholders overall are going to see this as a positive note overall. they will understand why the company is doing this, and that is to set the company up for the future, make us more efficient and agile. that agility matters in today's world. the other point i would note is that the a ss listing has historically traded basic and premium for the london listing and that will be in shareholder's minds as well as

long as they exchange a limited share for every current share they hold. >> plenty more to come on daybreak australia. this is bloomberg. ♪

>> let's get the latest when it comes to the situation in afghanistan where the biden administration says it has clear the way for americans to travel to the kabul airport. jake sullivan discussed the situation during a white house press briefing. jake: we are negotiating with allies and the united nations to address the situation in afghanistan. we are in contact with the caliban to ensure the safe passage of to the airport.

>> joining us now for the latest is dan. those extraordinary scenes that we saw from kabul airport over the past couple of days. we heard the caliban is assuring safe passage for associated staff to get out. what is the latest that we know on the ground? dan: the situation is rapidly changing, obviously. what we are appearing at the moment from pentagon and state department officials is that the situation has stabilized somewhat at the airport. they added some additional troops including -- they should have about 4000 troops on the ground by the end of the day today according to what the pentagon has told us. at the same time, they are working to get about 11,000 american citizens out of afghanistan right now which as you might imagine is a large number that they have to move. the way that they are doing that is to try to have flights

leaving the airport, about one every hour, so that would amount to 5000 to 9000 people a day on each one of those flights depending on the weather so that is the situation at the work. that is to say nothing of the situation outside of the airport, which is where the challenge lies at this point because you heart of -- you have a lot of folks stuck out in kabul who would need to get to the airport, not just american citizens, but afghan allies who worked with the u.s., who are trying to get to the airport and trying to get onto a flight out of the country and that is really where the challenge is right now. shery: more and more governments are paying attention to the details of dealing with the need, been led government. house republicans are urging the u.s. to stop the caliban from using ims reserves. what do we know? dan: i think that there is a push right now on capitol hill

to find out details about what is going on and what the administration will be doing moving forward and how they are going to approach the situation in the region, whether they are going to be negotiating or talking with the taliban. it is in a lovable -- inevitable that u.s. officials will have to work with the caliban to facilitate this airlift, this evacuation. it is an open question as to what that will mean going forward. you have kind of the political dynamic as far as that goes in the united states where there are folks who believe that the caliban should not be dealt with on any level and there are others who are sort of taking a pragmatic look at that and saying we have to work with them to a certain extent in order to get our folks out and it is an open question what happens beyond that. we know the military commander on the ground has met with his counterpart on the caliban side and that there is an effort sort of ongoing to figure out a way

to get folks out, to have them not interfered with as they make their way to the airport but we have also seen reports of people being beat up on their way to the airport, turned away at the airport. i heard stories of passports being confiscated by the caliban. there is a lot of noise out there and i think the situation is changing moment to moment, a today, our tower so we are watching it very closely. haidi: some of these devastating stories and the images playing out in a very big way across social media at the moment. i am wondering, do we know about the assessment of the domestic impact, popular impact on president biden as a result of this very messy withdrawal? dan: that is a great question and i think that is the last thing -- that is something that will not get sorted out over the next 24 to 48 to 72 hours but it

is something that will play out over the next few years really. i think they are -- there is popular support among the american people to withdraw from afghanistan which is a different question as to how you get out and that is the distinction that a lot of people, not just republicans, but democrats as well have been drawing here, and they have been critical about how this withdrawal has taken place, about the intelligence that was available, when it was available, whether the administration knew more, whether it was a failure of planning our policy. those questions will be sorted out in the day to come. we saw the president addressed the nation yesterday and sort of stick to his talking point, which was that he did not want to pass this onto another administration. he wanted to get out of afghanistan. he wanted to get the u.s. out of afghanistan. he wanted to move past what some have termed to be "forever war." it is the longest war that the u.s. has been involved in, in

afghanistan, and move on to other challenges. but how that will play out domestically, we will have to see over the next few days and few months and few years. haidi: dan flatley, al bloomberg news congressional reporter with the latest in afghanistan. we have the latest report numbers. 145,000 tons, being declared just under $.10 each. eight cents per share. first-half net income, 200 $68.6 million for that copper focused south australian minor which has seen disruptions from china and the impact of the slowdown in china on copper places. we will be here eating from the ceo hit -- curing from the ceo himself on bloomberg markets. -- we will be curing from the ceo himself on bloomberg markets. >> the u.s. government may be poised to offer a booster shots as early as september.

the administration is finalizing a plan that will recommend the shot eight months after receiving a second dose. so far, booster shots are authorized for those with weakened immune systems only. it would be subject to authorization by the fda. the u.s. is extending mass requirements for travelers on trains, trains, and buses, and it will require people to wear them at air terminals, train stations, through january 18 next year. this as the delta variant continues to fuel new covid-19 infections across the country. vaccinations are ramping up again to levels not seen since the spring. so far, 350 7 million doses have been administered in the united states. malaysia's lawmakers must submit their new choice for a prime minister by 4:00 p.m. local time wednesday. the deadline follows the resignation of the prime minister and his cabinet. officials will be permitted to

e-mail fax, or even use -- to record their choice. malaysia skiing has the discretion to decide who commands majority support. scientists -- a hypothesis that the covid-19 outbreak stemmed from infected wild animals is now being backed by findings from a delayed report published in the online journal scientific reports. it was published in june after a 1.5 year delay. it reveals animals known to harbor corona viruses including minks were sold in wuhan for years including up the wet market where the earliest virus cases were traced back to. global news, 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i am chronicling. this is bloomberg. -- i am vonnie quine. this is bloomberg. shery: south korea wants to have 70% of its population vaccinated by the end of september. that would speed up one of the

lowest inoculation rates among major asian economies as cases search to record highs. in an exclusive interview, the prime minister says country can weather the current storm without turning to lockdowns. >> one of the reasons why we think south korea has succeeded in prevention is because we did not turn to extreme measures like lockdowns. we maintained an open condition while getting help from our citizens as well as delivering policies that are acceptable to those citizens. we also cannot say that our approach was mistaken. if you think about all the efforts our citizens have put in and also by looking at the numbers of serious cases of fatalities, we believe that the approach the government took and the measures that our people followed were not wrong. >> you initially vowed to reach herd immunity by november but it seems like there's problems with vaccine supply. do you think that plan is still

possible and can people live without wearing a mask once you reach herd immunity? >> we believe that moderna will keep its promise but we are not just looking at moderna. we are looking at various ways such as cross inoculation with other companies in order to reach a 70% vaccination rate by the end of september. if we were to be ambitious, we could reach 70% rates for a second shot by the end of october or at least mid november and because of how quickly the delta variant is spreading, some experts are saying 70% vaccination rate should not be the goal but at least 80%. also, there's been recommendations to take a covid approach but we don't think we are at that level just yet. haidi: the south korean prime minister speaking with them. the biggest vaccination campaign in history.

please check out bloomberg vaccine tracker on the terminal and at bloomberg.com. the rp and z looks set to be the first advanced economy in the asia-pacific to raise rates. does that change when it comes to the latest covid case and implications of the snap lock down? we get more from them. this is bloomberg. ♪

>> you are watching "daybreak australia." the rb and z tightening has been clouded. we could see a drag out, possibility of a lockdown being extended on that delta risk so market pricing has fallen from nearly 322 rate hikes. the rb and z will take a timeout and reassess given the poor optics of a rate rise at a time when we could see a potential hit to economic activity. westpac predicting a hold for a 40% chance iia hostage shift -- chance to a hostage shift. helmets on for qe traders after the currency slumped back below the 70 handle an rbc capital is cautious about looking for further weakness until we get more clarity.

clarity is the name of the game. he is still betting on a rate hike given the aggressive rebound that we have seen in the new zealand economy, heidi. haidi: let's stick with new zealand. back under nationwide lockdown since the pandemic began more than a year ago. paul allen joins us now with more. it is just five cases. is this an overreaction? paul: the prime minister checked sydney when she made this announcement since referring to how quickly things got out of control here with one case and now we have many hundreds of cases per day. so the lockdown is the whole country has to stay at home. essential services only. workplaces are closed. schools are closed. here is how the pen minister explained that decision. -- prime minister explained that decision. >> delta is a more dangerous

enemy to combat. in the same actions that overcame the virus last year can be applied to beat it again. paul: there is already evidence of this spreading quickly. we had one case yesterday afternoon and new zealand is already up to five. the definitional case -- not initial case developed symptoms last saturday. there are 23 locations of interest, many across auckland and also in a popular holiday area. he was on vaccinated, as it is much of the country. new zealand has a vaccination rate among the lowest. it also has among the lowest i see you -- icu beds, the second most behind mexico. that is why new zealand is going hard and early because it cannot afford to let this get out of control. shery: in australia has experience, how effective have lockdowns been against the delta variant? paul: looking out the case of new south wales, not barry.

we had 452 cases yesterday and case numbers in the 400s are becoming more common on a daily basis but you have to remember that the state government here did not go particularly hard nor particularly early so you could argue that that is why this state is in the situation it is in but then you look further south to victoria, which had a handful of cases, and did go extremely hard and announced curfews, the closure of playgrounds as well, the spread of the delta variant among children, so even going hard has kept those numbers down but the delta variant is still spreading in the state of victoria. the strategy in australia now is to get covid vaccines into her arms as quickly as possible and that is perhaps the one glimmer of hope that rollout this speeding up. 27% of the population fully vaccinated after a slow start and almost half of people have now had the shot. haidi: haidi: paul allen -- haidi: paul allen with the latest. in the rb and z has confirmed

that wednesday's rate decision will go ahead as planned. as the lockdown prompted some to treat the expectations of a hike later, our next guest is sticking with that call and said the new zealand chief economist joins us now. great to have you with us. it was an extraordinary day when it comes to money markets for new zealand yesterday. we saw a 1% drop in the qe as a result of this one case. let me throw out this bloomberg chart, taking a look at what the november implied rate signals for what to expect for the rb and said going into the end of next year. it is pricing at least two rate hikes before the end of this year but we saw the expectations for this week's decision falling from 100% to 60%. bloomberg economics says it would be a mistake to go today. is there a case for prudence here? >> there is in the market pricing of 60% chance of a hike is fair. we are over the line because the reserve bank tend to respond to what they know.

of course, it is changing on a daily basis at the moment. absolutely, you can make that case. the good news is that it does not matter too much except for rate traders. it will be a messy afternoon. making fix that pretty quickly. the health or fiscal response wrong, that is difficult to rectify. haidi: when it comes to the implication of letting inflation potentially run, these low rates have fueled inflationary pressures. does that now get dampened as a result of a lockdown and the passed through to consumer sentiment? >> as the lockdown proves to be short and the fiscal response is

swift and generous, it does not have lasting impacts on the economy. people save a little bit more while they are locked down and then splurge when they are let out. it is likely to remain the base case but as we have seen from the sydney experience, it is much more difficult to eliminate the delta variant, so they will be aware that it could have very lasting confidence. it all depends on the case numbers in the next few days and that is the only data that is going to matter for financial markets this week. shery: even if the domestic outlook is not too bad, what is the risk of the global outlook worsening and actually hitting new zealand? sharon: it is encouraging to see gary price's lift slightly overnight, the first time in nine auctions at the dairy price has lifted. the dairy market seems to be quite opaque but it does reflect this. not all is well in the world and

there is the delta variant hitting asia harder in particular. it is important for new zealand's export markets. with the tourism exports out for the count, we need our goods exports to perform well so even if we get on top of this covert outbreak, there are real questions about the sustainability of the new zealand outperformance. house prices are up year on year and that has had a huge wealth impact on the consumer. the labor market is very tight. right here, right now, we are experiencing strong demand but there? around -- question marks around sustainability. shery: the economy may not have that much substance. sharon: it is amazing that we are having a housing boom and a big spend up in a year where we had a negative national income shock so that does raise questions about how much substance there is once the

housing market cools. it is facing a lot of headwinds now with tightening policy, for example. even as rate rises are slower in the previously expected -- there are still headwinds. shery: sharon zollner, great to have you with us, joining us from auckland. you can turn to your bloomberg for more on the rbnz decision later. get commentary and analysis from bloomberg's expert editors. also be sure to tune into bloomberg radio to hear more from the days big newsmakers -- day's big newsmakers and get in-depth analysis from the daybreak team. we are broadcasting live from our studio in hong kong. listen via the app, radio plus, or bloombergradio.com. plenty more ahead. stay with us. ♪

shery: we are eagerly awaiting the results coming from 10 sent. china's largest tech company seeing tons of headwinds from scrutiny on its antimonopoly drive from beijing not to mention its gaming business but something 43% did not get too much help from the earnings reports. we are expecting a net income declined which would be the first profit decline since 2019. haidi: this is not a new story.

it operates as a social media platform. it has been one of the biggest high-profile victims of the beijing clampdown this year and previously when it comes to the gaming clampdown as well. the antitrust issues, the influence of gaming, as well as a sobering outlook. we are watching out for those numbers and getting a preview and analysis ahead of that as well. let's get you a quick check of the business-class headlines in the meantime. it expects full year net profit between 2.15 and $2.25 billion but has warned collections have been adversely impacted by the covid pandemic. a net income of $2.8 billion. a final dividend per share of $

1.18. a start up with a valuation of 2.7 billion dollars, one of the country's biggest startups. it has raised $162 million from investors, joining a growing list of unicorns. it is a marketplace app which connects users to buy and to sell locally. twitter is adding an option for users to report this information for the first time but says not all flagged tweets will be reviewed by fact checkers. the experiment will run in the u.s., australia, and south korea. it will use the reports as a way to identify trends to focus on. the world's biggest crypto exchange is hiring tad compliance teams as the company faces regulatory scrutiny over tax evasion. the ceo told us that his number one priority -- regulatory

experience. >> the u.s. is mature on the crypto regulation part. it is listing on nasdaq which is positive. crypto longchain is bigger than the internet. it will have various far-reaching financial impacts. hopefully, we can avoid that. shery: we will be launching the rb and z rate decision. 20 out of 24 economists expect a rate hike. we will be speaking with adrienne or later this week. -- we will be speaking with our guest later this week. we will get insight on currencies from j.p. morgan australia executive director of macro sales, laura fitzsimmons.

"daybreak australia that is it for"daybreak australia." -- that is it for "daybreak australia." "daybreak asia" is next. this is bloomberg. ♪

shery: hello and welcome to "daybreak asia." sophie: i am sophie in hong kong . we are counting down to asia's major market opens. shery: good evening. our top stories this hour. asian equities may come under pressure after u.s. stocks suffered their worst drop in a month. beijing's new regulations way on chinese adrs.