>> crypto, you have a world of young people that want their own financial system and their own culture. and it is very powerful. i am a big believer in it. >> very good morning and welcome to "daybreak australia." >> i am sophie kamaruddin in hong kong. we are counting down to the open. >> i am shery on the top stories this hour. u.s. stocks rise. the fda pfizer approval could lead to more vaccine mandates. >> kamala harris reassures

allies in asia as she faces questions on afghanistan. >> and why jay powell's jackson hole gamble from a year ago runs the risk of backfiring as we approach this year's gathering. u.s. futures extending gains we saw on the s&p 500, gaining ground with better-than-expected july home sale numbers. weak pmi numbers. we have the nasdaq numbers and composite at record highs. that risk on sentiment, the bloomberg dollar index falling the first time in six sessions. the wti reversing gains in the new york session. the best day in nine months. goldman sachs still pretty positive about oil, saying it is an oversold territory. they are keeping their fourth-quarter targets at $80 a barrel. chinese avr's got a boost. check out jd.com.

it gained the most in a month. these beat analyst estimates. a caveat with jd.com, it was 28 percent growth, the slowest in the pandemic. we have seen this dip mentality felt across equity markets, especially from the start of last week, but not so much in the credit space where we continue to see sentiment souring. u.s. high yields adjusted over treasuries for a second consecutive week, the longest stretch since 2013. it was to do with the vaccine. news today with the fda full approval for pfizer and biontech. that leading to people thinking perhaps that will help with vaccine hesitancy, not to mention more vaccine mandates. haidi: president biden has been outspoken about hoping to get this full approval sooner than later.

now that it is here he hopes that means more corporate skin mandate vaccines and get more people vaccinated. a lot of people hoping this will reassure people on the fence because they thought there had not been the full breadth of fda approval. we are looking ahead to how the delta variant and handling of the vaccine and virus levels play into the economic debate. shery: especially as we head to the jackson hole meeting. it has been an event where policymakers could announce new initiatives. now there are questions on whether or not chair powell's announcement last year, the new policy framework, plus inflation overshooting the 2% target for a while, could backfire, given we have so much money in fiscal stimulus, not to mention worker shortage.

inflation rallying now we see supply shortages also felt. haidi: it is this cash deluge proving to be a headache for the fed in terms of them trying to set a floor when it comes to rates. take a look at this chart, was -- reverse repo usage. full steam ahead at that fed facility. funding markets is no match when it comes to this influx of money we continue to see in this market. let's see how we are looking at the opening of trading. sophie kamaruddin has more from hong kong. sophie: cash looking for a home. asian stocks to extend gains. tack a leading almost all sectors higher on monday. kiwi stocks rising to a february high. after the retreat of the greenback, those comments about

rethinking tapering, the aussie dollar ready to rise. over in goldman they flagged the prospect of a potential delay to the rba tapering which modified the forecast for australia. they are sanguine, saying they are underestimating the pace of australia. they are optimistic on the aussie dollar. to pull up a chart, base metals on watch. goldman singling out aluminum and copper as the biggest beneficiaries in china's market in the fourth quarter. in the latest notes jeffrey curry and team saying you should focus on the micro fundamentals -- fundamentals, which should trump the macros. shery: such an important week for commodities now that we are headed to jackson hole. let's get over to vonnie quinn with first word headlines. >> the taliban say there will be

consequences that the u.s. delays its troop withdrawal from afghanistan past in august 31st deadline. prime minister boris johnson pushing president biden to delay to allow more and safer evacuations of foreigners. the pentagon says u.s. military officials are in contact with the taliban several times a day to coordinate evacuation efforts at kabul airport. vice president kamala harris based questions on afghanistan while on an official trip to singapore. harris said the u.s. is focused on successfully completing the evacuation from the country. singapore's prime minister offered to help the u.s. with evacuation efforts. the comments came as the vp seeks to assure u.s. allies in asia over its commitment to the region. president biden says full approval of the fda pfizer

biontech jab should clear the way for more private companies to impose requirements for staff. the fda approved the shots for 16 and older, while u.s. covid deaths topped 1000 for the first time since march. it is the first vaccine fully c urated. chinese companies seeking to go public in new york. some chinese firms received a detailed instructions about greater disclosure of their use of offshore vehicles for ipo's. they are reportedly being asked about the risk of chinese authorities might interfere with company operations. global news, 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. i am vonnie quinn. this is bloomberg. haidi? haidi: let's get to the markets and our next guest, jimmy chang,

from new york. it was a nice day, that risk rally overnight. how much of the recovery prospects are being priced into markets as we continue to see the delta variance plague economies worldwide? jimmy: it is a back and forth story so far. the real test will come in september, post labor day, in the u.s., when the temporary unemployment benefit expires. we will see what happens to the environments. the good thing about the delta variance, we are seeing potential peaks in the u.s. potentially the worst could be behind us in terms of new cases. haidi: i want to talk about the commodity complex, an area you are still constructive. in terms of the global rebound, is that bleeding through to potential gains? we can bring up this chart on

the correlation between the s&p 500 and what we have seen in the commodities complex. jimmy: there was a positive view for commodities. not just of the next few days or months. we have several years of investment in the commodities space. with the global economy set to reopen, especially in emerging markets, australia, new zealand, there is a lot of demand ahead driving additional travel, additional construction in china with infrastructure spending. i do believe commodities will see a strong cycle in the years ahead. on top of that, we are cautious on inflation. some of these components look temporarily high. there are other elements which could become more sticky. in a more inflationary environment commodities will stand out. shery: does that optimism about

commodities translate to energy stocks and liners? they are giving out dividends and payouts to shareholders, but in the past, despite the rally in commodities, we have seen them underperform. jimmy: you have to differentiate between fossil fuel energy, which may have a more difficult longer-term outcome, and base metal commodities, which could benefit from this decarbo nization process. some vehicles consume more copper than other materials. in the near term, given the pullback in investment on the energy side, assuming opec will stay disciplined, energy prices could run high. a lot will depend on what opec decides to do, given the low marginal cost and they could ramp up production. haidi: you mentioned sticking inflation. where does that put the treasury outlooks? this chart is showing why the

range of calls from analysts has been with the bank of america seeing the 10 year yield either sliding below 1% or surging as high as 2%. jimmy: it is perplexing. there was a bifurcation between equity markets and loan-bound yields. given the -1% yield, it is disturbing. potentially something going wrong. we have new highs with equity indices in the u.s. i do believe india will resolve higher. our thesis is that potentially this expansion will continue. world estimates may have to come down, but it is still above trend. probably until the middle of next year. if the fed starts normalizing policies, it could be lifted later in the year and there'll be more issuance from u.s.

treasuries, which potentially could drive rates higher. haidi: rockefeller global family office cio jimmy chang, thank you for joining us from new york. more on the situation in afghanistan. the taliban warns there will be consequences if the u.s. delays its withdrawal from the country. plus, vice president kamala harris speaks to reassure allies in asia and afghanistan, while boosting the supply chain. this is bloomberg. ♪

>> the goal is to get as many people out as fast as possible. while we are glad to see the numbers we got yesterday, we will not rest on any laurels. the focus is to do this the best

we can by the end of the month. >> the question is, are we on track to fulfill our objectives with this operation, to bring out our people, the afghans who helped us and afghans at risk? we believe we are. haidi: that was jacob sullivan speaking on the fate of u.s. evacuations from afghanistan. the situation is expected to dominate the g7 summit tuesday. president biden faces calls from his closest allies to extend the deadline for evacuation in kabul. there are concerns the fast approaching cut off will create further chaos. our national security team, bill, what is the likelihood of a delay? bill: president biden is going to face a lot of pressure from european allies to consider a change. august 31 is not the deadline to evacuate everyone.

the u.s. and nato partners have to start scaling back of these evacuations a few days ahead of that just so they can get all the troops out in time for august 31. what we're hearing from the u.s. is that no decision has been made and that decision rests with president biden and it is not clear he will make any announcement at the g7. we know he had a call with boris johnson to discuss it and will face pressure from other leaders, including those of france and germany, to extend it. haidi: of course, the u.s. vice president kamala harris saw to reassure u.s. allies in asia as she faced a volley of questions on afghanistan during her visit to singapore. v.p. harris: there is no question there will be and should be a robust analysis of what has happened, but right now, there is no question that

our focus has to be on evacuating american citizens, afghans who worked with us, and vulnerable afghans including women and children. haidi: let's bring in courtney rosen. this is not the focus the vp would have wanted going into this trip, but the issues of the crisis in afghanistan has really changed the focus. courtney: it has become more difficult for the vice president to assure allies while visiting asia that the u.s. has her back. she spoke at a naval base earlier in her trip saying the indo pacific region is a big part of what is next for the u.s. and not the war in afghanistan, which echoes what the president has said. in terms of press conference, the press briefing where we are most days in the u.s., excuse

me, the white house has in the press most days. i did not hear a single question from reporters about the vice president's trip. it was all about afghanistan. she did not go in with that as the intention, but it has become the top headline. shery: completely overshadowing her trip. what can we expect? courtney: she has a meeting coming up on supply chain issues. one of the issues she is bringing up is the shortage of semiconductors that has hit the auto and tech industry and she is set to leave for vietnam, hanoi. she will be the first sitting vice president to visit vietnam since the war ended in 1975. haidi: white house reporter courtney rosen joining us with the latest. we continue to watch the vice president's trip as it continues throughout asia today. let's look at earnings coming through. sparc infrastructure per share

coming in at 0.025 aussie cents. income at 21.6 million australian dollars. this getting attention after the kkr group signing that $31.7 billion to purchase that spark infra group. lots more to calm on. "daybreak australia" this is bloomberg. ♪

haidi: u.s. listed chinese avr's climb a second day. more positive sentiment across markets with a positive rebounds. tencent and others surging.

jd.com gained ground after revenue beat estimates. we could potentially have more developments on the way. the sec has begun issuing new disclosure requirements for chinese companies looking to lift after it halted ipo's earlier. last month they called for a pause in ipo's. the surge in 2021 halted. haidi: it is interesting, jd.com, the chinese e-commerce giant, announcing the chinese tech crackdown. it beat estimates as consumer spending increased. we have -- jd has often played second fiddle to alibaba. what is it doing differently from alibaba, tencent? >> there are a couple things going on. alibaba and tencent are more high-profile and have been more

targeted by government regulators. especially alibaba. in their most recent quarter alibaba and tencent did see sales miss. jd did not. they have not been in the cross hairs, but the other main reason, they have their big june 18 shopping festival in that second quarter and got a big boost in transactional volumes. that helped boost sales 26%. that beat forecast. those surging transactional volumes from june 18. there is still concern for jd.com. the stock is down 40% from a february peak. it has not been specifically targeted, but these platform companies in china are on notice for david -- evasive security, antitrust behavior. when the tide goes up, they rise, when it goes down, they

all go down. at least it is a reef bright spot because of the surge in transactional volume. net incomes tumbled from 16.4 billion yuan a year ago. i mentioned the sales gain in the quarter year-over-year. that beat estimates, but it was also the slowest since china first emerged from the pandemic last year. not all rosy for jd.com. they have to deal with the surging coronavirus in this current quarter. shery: still upping scrutiny of chinese ipo's in the u.s. what do we know now? stephen: this is reuters reporting, a story bloomberg news reported on a week ago. the sec has begun issuing a new disclosure requirement to chinese companies seeking to list on the new york exchanges.

obviously, these companies are in the crosshairs not only from chinese regulators, but the sec. some companies seeking to go public have received detailed instructions. far we are hearing -- farmor we are hearing -- far more we are hearing. almost all the tech companies from china have used vie structures to allow chinese companies to skirt beijing's strict requirements on foreign ownership. also beijing is scrutinizing companies for data security issues, but now the sec wants to see the cash flow these companies have through these vie structures. it is more scrutiny. the chair of the sec just a few weeks ago we heard has put a

pause, has asked his staff to put a pause on green lighting any chinese ipo's that use a vie structure. haidi: stephen engel with us. net income $139 million. interim dividends, 3.3 cents for that interim dividend per share declared. we are focusing on oil surge, as it is conducting due diligence to progress with santos. the second and biggest oil companies in the top 20 of the region globally. that lng powerhouse, the oil search coming through with half net income and dividend numbers. shery: let's get a check of the business flash headlines.

two of the biggest bond rating firms have opposite conclusions on the state led bailout. moody's downgraded above a speculative grade level. a sign of declining capital and profitability. fitch revised it to positive and said it shows extraordinary support from authorities. richard branson's virgin orbit going public. valued at $3.2 billion. the merger should provide the company with $480 million in cash, until regular launch operations are expected in 2023. southbank vision fund made the first bet on africa, leading a $400 million funding round for a nigerian start up. it values the payment platform at $2 million. a boost for the u.s. covid

manufacturing vaccine program. the pfizer shot has been approved by the fda. this is bloomberg. ♪ ♪

pres. biden: today come on: on more companies in the private sector to step of the vaccine requirements. that will reach millions more people. shery: president biden urging companies to impose vaccine mandate after the fda's approval of the pfizer shot. that full approval comes at a crucial time as the u.s. is battling a wave of delta outbreaks. the nation recording more than 1000 deaths a day, a counter that has more than tripled in a month.

let's bring in care alexa -- kara wetzel. what are we expecting us to do? -- the student? -- this to do? >> they felt that the process was rushed or there was a reason the vaccine did not have all approval, encourage them to get shots. it might encourage more companies to require shots now that they feel they have a little bit more footing with the fda behind them. we have already seen them require it for military workers. a few companies have said that they will require shots for employees once it is fully approved so they are hoping it paves the way to get hesitant people off the sidelines. haidi: i want to look at the sort of situation when it comes to u.s. cases. halfway back to the peak levels. deaths are 25% back to peak.

where are we really seeing the vulnerabilities and our hospitals becoming overwhelmed again? kara: again, you are seeing in some of those areas that have fewer rates of vaccination. arkansas, missouri, florida, texas. hospitals are getting quite strained. you are seeing an uptick in deaths. florida has had more deaths post vaccines them before the vaccines. it's definitely a bad situation. we have seen some data that in some of these hard-hit areas such as missouri and arkansas, cases are leveling off a bit. the surge in outbreak could be at its worst and hopefully getting better in the weeks ahead. haidi: new zealand prime minister jacinda -- says they

plan to stamp out the current outbreak of covid-19 and elimination strategy is still right for the country. she extended the nationwide lockdown until the end of the week. paul allen is here, joining us now with more. our lockdowns enough to bring the delta variant of covid under control given the lack of success we have seen in australia, for example? paul: there was a covid zero approach right here and the experience suggests it does not contain the delta variant and even the experience in the past few days in new zealand also suggests know. there was not global incredulity when the permanence or announced but country was going into lockdown with just one case. now, there's 107 with 35 new cases reported yesterday so it illustrates how quickly the delta variant spreads. the health minister was saying that all of our existing protections are looking less adequate and less robust and at some point in the future, the country will have to open up.

just a few hours later, his own prime minister appeared to contradict him, saying elimination is still the right strategy for new zealand. >> cases may continue to get worse before they get better. i know we are all prepared for that. that does mean that the safest option for all of us right now is to hold the course for longer. paul: that lockdown extended until friday. we would not rule out future extensions beyond that either. shery: how much progress has new zealand made on the vaccinations? paul: that is the key question. elimination is only -- really the only option. the rate is very low, even worse than australia. 20% fully vaccinated, the lowest in the oecd and that lags the global average. the director of global health only just got his first jab on

sunday so the opposition new zealand has been labeling we vaccine rollout into failure, it is speeding up, targeted to be completed by the end of the year. in the meantime, elimination is the only tool in the box. the delta variant exposed a few shortcomings. the focus on this outbreak is of a public thoroughfare that was running through one of the quarantine hotels in auckland. dropped to below 10%. service concern that all of this has given thousand a head start in the country and locking down is the only way to keep it contained in the short term. shery: the finance minister now speaking to parliament, saying they entered lockdown in a strong economic position. this after the rbnz held on a rate cut last week. paul allen with the latest. let's turn to vonnie quinn with the first word headlines. vonnie: thank you. the u.s. is reportedly

pressuring israel not to allow a group that includes china's crc see to win a tender to build two might rail lines in the tel aviv area. it is likely to come up on thursday when mr. ali bennett talks with president -- when he speaks with president biden. china's weibo shut down 145 accounts on its platform, some of which have been sympathetic to popstar chris wu, who was accused of rape. they published information that was harmful for maintaining social order, they said. the chinese canadian was arrested in july over several sexual assault allegations. ships have resumed birthing operations south of shanghai after a two-week shutdown to quarantine dockworkers. while an official says the

terminal is still closed, bloomberg data show at least five container ships have left in the last few days. french -- a french shepherd told customers for operation should return in the coming weeks. el salvador is installing bitcoin atm's, allowing citizens to convert the cryptocurrency into u.s. dollars and with draw it in cash. the move comes as part of the government's plan to make a legal tender. -- according to a tweet from the president. he said transactions will be afraid. justin trudeau has stumbled out of the bloc in the first week of canada's campaign. his prospects for a majority weakening. the advantage has dwindled and one poll shows -- ahead.

canadians vote on september 20. 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 have vonnie quinn. this is bloomberg. shery. shery: a surge in inflation, falling unemployment, and the federal reserve's tapering of bond purchases, jay powell is expected to weave all of this together in jackson hole on friday. kathleen hays is here with the latest. last year, the headline was that new policy framework that powell announced. is that still viable right now? kathleen: it certainly was in play but a lot of people have questions about it and just think of a year ago, the fed said we had a decade where we could not get inflation to go to the 2% target and stay above it. the economy has been battered by the pandemic and now, they are going to let the economy runs so hot that inflation will get about 2% and stay there. maximum employment. employment got down to a low of

3.7%. now, you can see what has happened. the big surprise that the fed was not counting on was massive stimulus. in the rapidity with which the economy pulled back out of the pandemic -- thank you very much. i want to show a chart. that is what i was thinking of. while we are talking about this, we can look at the fact that the inflation number is now running at 5.4%. so you have got a situation where things are moving fast. at the same time, fed officials say the inflation spike is temporary. all the used car prices that were spurred by a shortage of cars when people move into the suburbs and want to own a car, that is temporary. it will come down. people like the former fed vice chair saying -- also a democrat,

i might add, saying the fed with this new framework is almost guaranteed that it is going to let inflation run to hot. they might have to start tightening rates too much. that is the concern. as for jay powell, one of the things that is important is when he talks about tapering, whether it is time to go, is if he makes a distinction between removing stimulus, so much fiscal stimulus we don't need it, that we are not actually going to lift off because lift off on policy means rate hikes. this means taking a step towards it. what he says about the virus will also be very important. how much emphasis do you put on delta and what kind of a weight it could be on the economy. haidi: it comes out a politically insensitive -- a politically sensitive time for the fed. we know janet yellen has given her endorsement. kathleen: broadly speaking, the federal reserve is walking a

fine line. they want the economy to grow. they are willing to let inflation go above target. if they let inflation go to high, republicans will accuse them of being excessive. that is the political landmine. at the same time, if they start tightening too soon, tapering too soon, progressive democrats will say you are hurting people of color. they are the ones where unemployment is still the highest. in terms of power, very important that biden still has not made his mind up about the reappointment, expecting to do it over labor day weekend. janet yellen's endorsement is very important. she's not biden's ear -- she has got biden's ear. he trust her. -- trusts her. >> i think he articulated what the fed policy is in a clear and consistent way so i don't see any reason why he wouldn't be.

kathleen: we shall see. it looks like getting janet yellen's endorsement is very important. a lot of progressives like elizabeth warren and sherrod brown are criticizing bank regulation. they don't think he has been tough enough on banks. if his support is there, it looks like maybe biden will have a chance to say yes because a lot of people think that biden would like to do this. he just has to get everybody on his side. haidi: kathleen hays fear coming up next, on "daybreak australia ," kamala harris announcing a deal with singapore to boost supply-chain resilience. we will be discussing the move. this is bloomberg. ♪

shery: town now for morning call -- time now for morning calls with sophie kamaruddin in hong kong. morgan stanley saying there will be a turnaround anytime soon. sophie: morgan stanley's strategists saying why they expect em weakness to continue beyond the summer. delta concerns. they are recommending staying bearish on em credit as well as shorting emerging-market current these against the dollar, given their new dollar target implies

that will wipe out all the foreign exchanges that have been in. flipping the board, morgan stanley expects the renminbi could outperform asia with before and selling of chinese stocks having a limited impact. out from abm amro, they assessable inflation will go from here. cost inflation pressures continue to be aggravated by supply shocks and higher shipping rates so a longer path to normalization increases the risk of pass-through to consumer prices. the impact of commodities is more important when it comes to that instead of the impact of supply disturbances so they are seeing some stabilization as commodity inflation, haidi. haidi: we have a beat when it comes to retail sales out of new zealand. we are seeing retail sales

excluding inflation quarter on that number coming at 3.3 percent, beating expectations of 2.5% and rising from the previous quarter of 2.5% as well. this coming as it does not reflect a period where we have seen the snap locked down for new zealand, trying to get a clamp down over the impact of the delta variant. we did here in parliament grant robertson saying they are in a strong economic position and they have the fiscal headroom to handle the lockdown, this asked the prime minister continues to defend the covid zero strategy being right for new zealand. shery: we continue to watch kamala harris and her visit to southeast asia today with a second day of meetings in singapore after wielding a barrage of questions on afghanistan. our next guest says it is a global priority. southeast asia plays a key role.

great to have you with us. of course, we continue to see this rivalry between beijing and washington and each country wanting supremacy when it comes to tech. is there a chance of real self-sufficiency for any country in the semiconductors race when you take a look at how complex the value chain is? >> that is a great question. semiconductors have increased in terms of their national priorities for the u.s. and other countries but the semiconductor supply chain is unique and how disaggregated and complex it is. it is difficult for any one country to go it alone in terms of trying to add resiliency to their overall semiconductor value chain so china has had it as a priority for years to increase domestic semiconductor manufacturing and the u.s. as well as europe and other countries are now seeing the importance of having a more secure and resilient supply chain so no one can do it alone.

everyone needs different aspects of the supply chain set different countries are currently supplying. shery: how important is the partnership of these asian countries? especially southeast asia? anne: southeast asia plays a really important role. in singapore specifically, there is a lot of manufacturing. while we hear a lot about leading edge, a lot of the -- which semiconductors--which singapore has. they announced $4 billion of investment to increase their capacity within singapore for these more mature semiconductor technologies. vietnam and malaysia are important in terms of packaging, assembly, and tests. they play an important role. haidi: what is the bigger risk, geopolitical, or operational? anne: they are both risks and they are a little bit different.

geopolitical is when i think we will see continue long after this current shortage. china has always wanted to secure -- other countries are seeing how important it is it semiconductors are such a critical part to every aspect of our economy and national security. semiconductors are not just pc's and phones but your data center, cloud infrastructure, communication, and automotive and manufacturing are becoming heavily reliant on semiconductors. the operational aspect in terms of adding capacity will take time and a lot of money. the geopolitical one will take longer and we will see that continue on for decades to go. shery: when it comes to capacity constraints and structural issues for the auto industry in particular, where do you think strength and weakness is? it was a big shock to see an automaker like toyota struggle with not just chips but a number

of other components as well. anne: toyota did quite well but the shortage outlived everyone. resilience playbook in terms of inventory and how long they were able to last for they saw the impact. automotive caught them by surprise a little bit with just how sensitive the supply chain was to the growing demands and a lot of this is not just automotive demands but it is applying to so many different industries. the same semiconductor set of manufacturing fads is not only feeding automotive, consumers, but everyone's man has gone up. adding the supply will take time and money. people putting that to work today both at the lagging edge which is important for automotive's and pc's and servers as well as the bleeding edge of technology which is important for our cloud infrastructure, 5g, and latest pc's as well. this will not be the last time we hear about shortages in our

semiconductors supply chain. >> now we are seeing government understand that securing these trips is a matter of private security. who needs to take the lead? anne: i think governments will have an important role to play, especially if they want to increase their own domestic source of manufacturing because it is so expensive to build these to add capacity. it's company is going to have an important role to play coming up with their own supply chain resilient strategy. everyone is in firefighting mode to figure out how to get product to market. it will be critical to take a step back and say where do i need to get another supplier in my supply base? where do i need to hold more inventory? where do i need to have better visibility for the state of the supply chain so each company can have a better resiliency strategy to avoid some of the bumps in the road? haidi: so great to have you with

us, anne hoecker, talking through some of these supply chain issues relating to chips. do not miss our conversation with the chinese ev battery maker a little bit on. also amid the supply chain discussion, the ceo joins us in the next hour. we have more earnings here in australia. full-year net income coming in at 752 point $2 million. the final dividend per share being declared at 20 since aussie -- $.20 aussie. we are seeing this theme being continued in the australian earnings season. the stock has not been trading too well this year but it could a bit of a roost when it is done coming through at 425 million 450 million -- $425 million, $450 million, just shy of expectations. this is bloomberg. ♪

shery: australia has notched its biggest call on record according to morgan stanley. more than $50 billion in transactions july and even more on the horizon. what is really driving this frenzied activity? >> in a nutshell, ceo's and

boards are capable of getting from a -- fomo, too, by the looks oit shares have rebounded and basically kept running as well. as a result, there is a sense that the strategic deal that executives had their eye on with value opportunities, they are only going to get more expensive the longer they wait because the global economy is clear at the moment. shery: what are the features of the deal so far? harry: it was just a few weeks ago that australia saw its biggest merger monday on record with the combination of two oil and gas producers here. that was a $16 billion deal but it was almost overshadowed because it was the same morning that u.s. payments business, square, bought australian by now, pay later business after pay. that was the biggest deal of all

time in the region. it is across a number of sectors but the common feature is a search for scale in places like payments or intact. it is a landgrab by larger companies who want to move up the tech curve very quickly. and oil and gas resources is a big sector in australia. production and prospecting is getting more expensive. shery: harry on the latest in the m&a landscape in australia. bloomberg is being told didi global suspended plans because of how the chinese ridehailing company handles passenger data. plans to challenge you better have been shelled -- uber have been shelled. -- shelved. it bets the sluggish tv take up will not last -- ev take up will

not last. it is blackrock's first ev charging investment in the asia-pacific region. more insight on markets with chris campbell. "daybreak asia" is next. this is bloomberg. ♪

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haidi: hello and welcome to "daybreak asia." i am haidi stroud-watts in sydney. sophie: i am sophie kamaruddin in hong kong. shery: good evening from bloomberg's world headquarters in new york. i'm shery ahn. the u.s. gives full approval to the pfizer biontech shot. the fcc reportedly issues