>> a good morning and welcome to daybreak on straight i am haidi stroud-watts. >> i am in hong kong.

where counting down to the major market opens. >> good evening from new york. i am shery ahn. u.s. stocks falling the most since march, while treasury yields climb as the reality of higher for longer sinks in and emerging-market stocks erasing gains for the year. annabelle: the global central bank blitz rolls on with traders waiting for signs of a hawkish boj pivot. haidi: rupert murdoch stepping down from his media empire at 92, handing power to his son locklin. u.s. futures coming online in the asian session, muted at the moment after losses in the newark session. the s&p 500 and the nasdaq 100 headed for the worst quarter and about a year or so. we are seeing this recalibration in the stock markets given the ongoing onto route, so when it comes to profitless tech, they

are taking the biggest hit as treasury yields continue to rally in the 10-year gilts closer to that 4.5% level at the highest since 2007 especially when we have u.s. jobless claims numbers today falling to the lowest level since january last week, so we continue to see these numbers that showed the resilience of the u.s. economy and that really leading to this broad market some of. that risk off translating into oil prices dropping below $90 a barrel and offsetting some of those gains, so from the fact that russia in fact is applying an energy export ban. and the ones that take the biggest hit, emerging markets. the msci emerging markets index has lost all of its gains for the year. remember how we started the year positive? that is gone when it comes to the stock market so we are now expecting to see perhaps if we continued this pace a sixth

consecutive year of underperformance by emerging-market stocks versus u.s. stocks, not surprising given the strong labor data in hawkish messaging from the fed and great decisions from developing economies, but hinting at the fact perhaps that we will not see that much easing anytime soon. annabelle: yeah, that's right. it seems investors are struggling to interpret or absorb this messaging we will be higher for longer but in asia today we are focused on the japanese yen. look at this level, struggling for direction early but we are approaching that key 150 level against the greenback that is typically a point at which we start to look for signals of intervention from japanese government officials and from policymakers alike, but in the session today a couple of key risk events on the horizon or things that could determine the direction. the first is the key boj decision, more on that with enda curran in a moment, but also inflation numbers due in 90

minutes, so the headline number expected to take down for august but importantly it is that court reading that is expected to stay over 4% on year, so let's change on because the pressure is on the boj to start to normalize policy settings, not just in the dollar-yen trade but also when you look at the yen measured against a basket of peers aired this chart is looking at the real effective exchange rates, so against major trading peers and adjusted for inflation, we are now for the yen trading at its weakest level since the data first started back in the 1970's, so heidi, a five-decade low for the yen. haidi: yeah, let's get the preview of the boj decision as we round out the week, global policymakers. in the current joins us now. when it comes to the boj, -- enda curran joins us now. when it comes to the boj, they want to maintain the settings

when it comes to great to stoke inflation but the yen is eroding the purchasing power of households. enda: yeah. the boj has been an outlier for so long among the developed economies central banks. there are two things to watch today. the policy settings are not expected to change, but let's look for new language from the boj governor. in that interview a few weeks ago he suggested there could be a window for japan to pull out of negative rates. they are the less developed economy to have that. that would be a big deal. equally important when he says those remarks could be misinterpreted. of course, listening for language on the yen. this is the critical part of today's story, the yen at that 10-month low. it is obviously not the level of the authorities wanted. they warned they could intervene in last year they stepped in to

buy the yen for the first time in 20 years so look out for those comments on whether or not he tries to talk it up, so no change on the boj policy settings but it's about the signals he will send in the press conference. haidi: we had a great decision from the boj and a hold for the haidi: first time in two years. haidi:enda: on hold. again, the governor making the point that inflation is heading in the right direction but he's not completely convinced they are there yet and warning they could hike again. the board was a 5-4 vote on that versus external members mostly come up but it is about a growth story in the u.k. that think that england born indicators are showing a downturn is now underway, especially in the industrial side of things, and i think what's happening in the bank of england is interesting because it is showing the conundrum that all central banks will start facing now. you know raising rates was that inflation was running away was

the easy part. now it is what do you do if inflation where it is, keep raising rates while growth is slowing, or risk a recession, or hold back and risk inflation continued to remain quite high for some time? so the bank of england is a good example of how complicated this policy discussion will get. haidi: what is the outlook when it comes to asian central banks? we had plenty of policy action in this part of the world. enda: yep. just looking at it overnight, philippines on hold, bank of indonesia on hold, but in jakarta interestingly they were making the point that domestic conditions in indonesia with barrett the central bank to cut rates -- would merit the central bank to cut rates. so that is a quasi-way of saying that the fed is stopping us from cutting rates and this is a big story for emerging economies. you see what's happening in

emerging markets with stock indices around the world, the fed message yesterday they could yet hike again, and even if they don't, they will not be in a hurry to cut rates with remaining around the 5% level for some time for projections. that is a big deal for emerging market economies, so they will want to bring down interest rates but they can't do that when the fed is staying aside as is and where the dollar is at in indonesia spoke to that debate. haidi: enda curran, about what has been a big week for central banks. we will be speaking to the philippine central bank governor about their policy decision in the path ahead when it comes to monetary policy at nine: zero 5 a.m. hong kong, 9:05 p.m. in new york. annabelle: here is the latest on the u.s. economy, jobless claims have fallen to their lowest since january, just over 200,000 applications for benefits were filed last week, within striking distance of the lowest level in

five decades. the pace of hiring has slowed and firms have largely avoided cussing -- cutting workers. the risk of a potential u.s. government shutdown is increasing and house speaker kevin mccarthy's latest move to drum up support for stopgap motion hit a wall after a pair of ultraconservative republicans vetoed his latest offense pending bill. this is the third time it has been blocked and lawmakers have until october 1 to prevent a federal shutdown. our next guest is the performance of the stock market would depend on whether the u.s. actually enters a recession. training is now is the portfolio management at penn mutual asset management. great to have you with us. the economy in the u.s. has been resent as the labor market and the latest labor market data shows, but are we at risk of entering a recession anytime soon and what would that mean for risk assets? >> thanks for having me on.

i think we have a higher risk of potentially bad outcomes from here. one of the main reasons is if you think about the boiling frog analogy, we have been sitting here as rates have gone up and we have not felt the heat yet, but today we felt the heat on the markets felt the heat on the reason is interest rates keep going higher than anyone expected. for the past year and a half, everybody wanted a fed pivot and they will not give it to us because inflation is stubbornly high so we have to deal with the consequence of that in the consequence of overusing debt for many decades now we have a lot of debt and now the real interest rate on top of that debt could cause a strain, higher interest rate expense mainly on corporate income statements. haidi: every time 10-year gilts have climbed above 4%, it has not taken long to fall below 3.5% which is one reason equity

bulls have been sanguine so far. are you expecting this to play out or is it different? >> the cost of capital is high and were seeing a lag effective how it is impacting the income statement, so companies now issuing debt b, one example is a single rated name, it may sound boring, but they issue debt with a five and 8% coupon and yesterday the new bond issue was 12.78, 150% increase, and now were seeing the real cost of capital go up and it will hit the income statement. to your point, would we revert back? if oil does pull back, then yes, there is a chance we can get back to that soft landing that i know so many are hoping for. haidi: there is just as much risk if you take a look at the

structural drivers for commodities inflation including oil. it is a pretty big risk at this point, you would think. >> it is. the risk with oil going higher is we have been capacity constrained and have not spent a lot in terms of capex on oil diverting funds to green energy projects but the spending has been restrained so there's not a lot of supply, even if production is good. that is just an issue on that side. annabelle: how do you look at sovereigns as part of your portfolio at this point because there is the upside risk for yields. >> there is. i want to and void that risk and get my money -- avoid that risk and get my money back for investors so our fund outside of sovereigns we are focused on companies that have more cash than debt on the balance sheet.

that is the easiest trade to make right now. the money is there and companies with high cash balances on their balance sheet are earning interest income that is offsetting the interest, the higher rates, that that is a great place to be. it is the easiest place to hide for an investor today. haidi: really great to chat with you. still ahead, more on the boj decision on friday. we are not done yet with the global central bank bonanza. we hear from a former board member who's not expecting policy change until next year. chevron agreeing to a deal to end strikes at some australian gas facilities as the clock ticks on the deadline for unions to respond. we have the latest. this is bloomberg. ♪

haidi: chevron has agreed to a deal proposed by australian regulators to end strikes at its facilities and the unions have until 9:00 a.m. to respond, less than an hour from now. the strikes have threatened exports, agitating global gas markets. the main issue the commission has been working through, they likely -- >> it appears that way. there were meetings last night and they discussed the proposal. it does seem they have gone deep trying to address key concerns. some of the biggest sticking

points at remote work places are how they get home on these days. the commission has gone deeply into the airplanes that ship workers out and they miss connecting flights to get home after being on deck for a time so they're making recommendations on overtime provisions should that happen, so they have gone into quite a bit of detail about that recommendation, but we have not heard yet from the union and now that deadline is only 45 minutes away, so we are waiting to see whether the unions, the offshore alliance representing parties in this dispute think this will be a fair resolution. haidi: what is chevron stance? >> yes, this is fine by him, so from chevron's perspective, they

can move forward and avoid further stoppages which have been going on for some time at these facilities in northwestern australia. chevron and is happy but we don't know what the union will say in regards to this proposal. haidi: do we know what the response is likely to be at this point? >> to this point, the negotiations have been on a difficult footing in terms of the language from the offshore alliance and what they have made that chevron's attempt to resolve the dispute. they have been previously able to resolve the dispute of similar facilities but some of the other key issues other than the transport in and out of the workplace is around accommodation, overtime provisions, and around career

progression training and safety as well, so there were a number of points, not just that one about how people are paid, being delayed in getting home from their shifts, but other things as well, overtime and the like, so i went through the commission's decision on this and its recommendations and these meetings went quite late last night and we will have to wait and see what the union has to say in response. if they disagree we know that at 10:00 this morning that hearings are going to continue so we are just watching at the moment to see what that response will be. haidi: staying with labor action , the united autoworkers have threatened to expanded strikes against general motors, the lantus, and forward, unless progress is made by noon eastern time on contract renegotiations. shery: the parts supplier borg warner reported earnings and the impact of the strike should be

modest on its sales unless they continue for several weeks. haidi: the former u.s. treasury secretary larry summers says the strikes may continue for some time and the impact on the economy is still unknown. larry: it is always easier to compromise on numbers than it is like how big is the wage increase going to be that it is on principles like what will happen to the battery factories. it is easier to compromise on numbers like the size of pension packages than it is on questions like changing the separate wage structure for recently-hired workers, so they still have questions of principle as well as questions of numbers separating them, so this may go on for a while, and i think there are two big questions.

one is what will the spillover be to the larger economy and the midwestern economy, including through price increases if cars get scarce, what that means for automobile and used car prices. i also think there are some real questions here about when you have these highly publicized labor conflicts and you see what is likely to be a big number for the wage increase, i suspect that will give a lot of workers at a lot of places some pretty big ideas, and that may be a source of wage pressure as well. annabelle: we have more to come on daybreak australia. shery: this is bloomberg.

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win one of the most influential and controversial figures in

media rupert murdoch is stepping down from the helm of his global empire. shery: the 92-year-old son blocked lynn murdoch will take over news corp. adding to his roles as executive chair and ceo of fox. su keenan joins us now with more. rupert murdoch at the helm for second decades. what is next? ssu: it started in australia with the newspaper that grew into a global empire with media properties and television stations and prestigious newspapers such as the wall street journal. he served as an unapologetic conservative voice for those seven decades, now announcing he stepping down as chairman, handing the reins to his oldest son, locklin murdoch. now the 52-year-old takes over as soul chairs and that news corp. and continues back executive chairman and ceo fox and the latest move cements his position at the top of the family empire, even though it had been widely believed he was

the heir apparent. you can see a lot of green on the screen. shares rose on the news. locklin murdoch put out a statement congratulating his father for the seven decades as a media tighten, and in a letter to fox employees the elder murdoch said the time is right to take on different roles and that the battle for freedom of speech "has never been more intense." again, both news corp. and fox shares impacted by this, the future with the company now changing, but it has been a volatile period for media companies in general and in particular for fox news corp., fox paying dearly for their embracing of the trump claim that the election was stolen by a conspiracy and a lot of legal difficulties resulting from haidi: that. there are indications that this

seemingly smooth transition, nothing surprising about this. su: it could get pretty bumpy down the road. that is what observers are saying. they're saying that while it is clear the elder murdoch has pointed, appointed his son to take over, after his death apparently there could be some controversy between his siblings over control over the vast empire. in the meantime, there are the legal issues i mentioned, the historic fine or loss of the dominion voting defamation suit. there is now another lawsuit on the same or similar issue. there has been a decline in newspapers and media properties such as television and cable, as we have seen the rise of and other tech properties. ai also presenting a challenge

so locklin murdoch has his fans hands full going forward and will continue to be advised by his father, who is chairman emeritus on the board going forward. haidi: broadcom fell after report that google is considered dropping it as an ai chip supplier as soon as 2027. the report stating executive's ethical after arising chip prices in the report suggest google could design chips in house if the plan pushes through. a spokesperson says the company sees no change in its relationship with broadcom. cisco is buying a data company for $28 billion in its biggest acquisition ever paying $157 a share in cash, a premium to the wednesday closing price. cisco is trying to lessen its dependence on one-time sales, especially software and services , amid the ai boom. microsoft is rolling out its ai

assistant for windows on september 26 in the office ai apple november 1. the ceo says the copilot-branded assistants will provide a unified expense across operating systems, applications and devices. microsoft is leveraging -- leveraging is technology from openai where it invested $13 billion. coming up next, china and the eu meeting this weekend for trade talks. talks(announcer) enough with the calorie counting, carb cutting, diet fatigue, and stress. just taking one golo release capsule with three balanced meals a day has been clinically proven to repair metabolism, optimize insulin levels, and balance the hormones that make weight loss easy. release works with your body, not against it, so you can put dieting behind you and go live your life. head to golo.com now to join the over 2 million people

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♪ >> former bridgewater associates ceo david mccormick says he is running for u.s. senate in pennsylvania.

this is thrilling national republicans who see him as their best chance to flip a crucial swing seat. mccormick immediately became the gop favorite to challenge bob casey, the democrat and most likely to be one of the country's most expensive senate races. former hedge fund ceo mccormick is reprising a swing state senator run. we are expecting this to be a very expensive and hotly contested race. he is a decorated army veteran who ran for senate last year, losing in the prime minister -- in the primary to met awes. a routine forum for trade talks between china and the eu this weekend has transformed into a high-stakes test of their $900 billion economic relationship. the eu inquiry into chinese ev subsidies is set to be the main focus of the meeting.

for more, let's bring in vonnie quinn. what are we expecting? vonnie: we have this ostensibly what we know as the high-level economic and trade dialogues. this year it is different. he is making a four date visit and is going to visit a german factory. in the background, we know that more than a week ago the european union announced an investigation into chinese electric vehicle subsidies that could potentially impact $7 billion in electric car sales. what is happening this year is that this visit is as much an exercise in diplomacy as it is in economic dialogue. european businesses got very scared after china pot reaction because china was not thrilled about this investigation and it openly called it a naked active protectionism. the bosses will be trying to smooth the -- smooth over the

rift. a person familiar with the planning of the visit has given bloomberg details of what they would like to see happen. that is that he explains to his chinese counterparts that the investigation will follow strict procedural rules and that they should comply. the context is that if they comply, they might have a better outcome than if they don't and the eu has use publicly available information. in that case, it might look like subsidies are more than they effectively are. it is a knife's edge of diplomacy. >> we know the subsidies will be front and center, what else will be on the agenda? are -- vonnie: the eu it seems is focused on the smaller bilateral marginal meetings this time around because of what has just taken place. but also other issues that are constantly on the agenda like market access.

it takes months sometimes for european businesses to have data flow across to china. that will be on the agenda. european medical device access for procurement will be on the agenda. requirements on the cosmetics industry on the part of china will be on the agenda. there is a full agenda, it's just that this ev subsidies issue is a sticking point that might open the way for ursula von der leyen to meet with xi jinping at a future point. it is very similar between what is happening between the u.s. and china. haidi: vonnie quinn with a preview. canada says it is pulling some diplomats out of india over security concerns as their government moves to suspend visas for canadians. for more, let's get to randy who joins us from auto op-ed what has -- from ottawa. what has been the impact of these moves? >> the suspension of the -- the

suspension of visas means that most canadians won't be able to travel to india if they don't already have a visa. that is sending canadian travelers to change flights and postpone trips. i spoke with a travel agent today who said they have been receiving calls all day from clients inquiring about the situation. at this point, it looks like many of them won't be able to make the trips this month or next month if visa services do not return. the -- a processes visa requests says this will go on until further notice. i want to note that this came just one day after the indian government issued an advisory to its citizens in canada suggesting their safety is threatened. haidi: canada is taking action at this point. telesales little about that response and what lies ahead.

>> earlier this week, we have seen a tit-for-tat action between the two countries with both canada and india expelling each other's diplomats. india has been a lot firmer in its response to canada's allegations and we have seen -- measures curbing travel between the nations. it is worth noting that while canada is only india's fifth largest source, india is canada's number one's source of students and immigrants. haidi: randy 10 tongue. with the latest. another story we have been following, president biden has allowed continued support for ukraine as he met with volodymyr zelenskyy at the white house. a spokesperson says he is worried the u.s. commitment to military support is waning as troops struggled to make

battlefield advances. existing aid for ukraine could run dry by the end of the month on the back of the u.s. federal shutdown. shery: pakistan's government pushing through reforms as part of its imf bailout program. while battling soaring inflation and a week rupee. i sat down with their caretaker prime minister and started by asking if he expects social unrest over rising power prices. >> my own anticipation is that as we are approaching the months of the winter, our electricity bills will decrease significantly for the reason that you do not require the conditioning of your homes and so on. on the consumption side, the -- are usually of good use for the government. i do not anticipate that kind of

huge social unrest due to the price hike of electricity. shery: the imf request for privatization, was that necessarily aid -- it wasn't an immediate demand, so why do it now? >> it is on the request of imf. our own a porch toward the state wound entities is that we have realized this and i think it is across-the-board with different political parties that state has got no business to do business. so, the laissez-faire approach toward economic intervention is probably guiding everyone across-the-board in pakistan. in that context, we are trying initially to prioritize our transmission volleys. the transmission volleys along with the generating units on top.

but, this would help us to get more investment in infrastructure, where there is a huge -- on electricity. there is a huge loss. people don't pay. there are administrative issues related to that. so once the private parties enter into the contract, we expect that they will be able to give relatively better services and it would carry some economic and business sense too. shery: do you expect sales within the next few months? within your tenure? >> i don't want to commit to something which would haunt me later, but yes i am sanguine. shery: china is your biggest lender. what conversations are you having on debt relief? >> we are having very constructive and positive engagements with china. in economic terms. not just in our debts.

there is all around economic perspective toward the region and specifically toward pakistan. the chinese side is realistically looking at pakistan, what sort of business model and economic sex -- economic success would come. we are having a very broad-based conversation. it is not just specific to debt. shery: you mention 50 billion dollars of investments from saudi arabia and the uae. how soon could we see these funds? >> all i can give you is that there is a serious initiative on the part of countries led by saudi arabia, the uae and the rest that they want to invest in multiple sectors in pakistan. $50 billion is just one figure, which i did mention, but it does

not have a limit, that it has limited itself to that. they are coming with an open mind and to see more business opportunity. and if there is more to offer from our side, it probably could cross that figure as well. shery: pakistan's caretaker prime minister. coming up, we preview friday's boj decision. the -- reaction to recent comments on the rates may have been overblown. this is bloomberg. this is bloomberg. ♪

♪ haidi: you're watching daybreak australia. markets struggling to swallow the higher for longer narrative. investors split over the chances of a soft landing for the u.s. economy. let's discuss and bring in annabelle in hong kong. who is skeptical? annabelle: this has been one of the biggest debates, something that came up in powell's press conference. a lot of investors deciding

whether the chances of a soft landing would be possible. one in the "no" camp is apollo copresident james salter. he spoke conference overnight and told us that he doubts whether the fed is going to be able to engineer a landing with just a few bumps. the reason is fed policy operates with a lag. the question is, how long it takes to play out in the economy? with all of these hikes we are seeing from policymakers. he says this time around it is going to take longer than other points in the past. he spoke to us about how investors can really navigate these changing dynamics in the market. specifically between equities and bonds. >> we got out of bounds. for 10 years, debt was priced too cheap. you are forced to go into equities. basically, debt subsidized a

massive amount of equity returns. the last 18 months the world now has about $300 trillion in debt, one hundred trillion dollars global economy, those numbers have basically doubled in the last 10 years. when you go from 0% to basically 5%, that is $10 trillion of borrowing costs that have to be absorbed. haidi: are -- more optimistic? annabelle: we heard more positive voices at this forum, but from the -- from my kerry getty, who spoke to us as well about the outlook for private credit, he says this market could double within the space of five years, reaching $3 trillion he says has been an influx of major plays. if this space had been lure by more attractive turns. as to whether a contraction can be avoided, take a listen. >> there are 70 countervailing

things happening, but everything we see in our portfolio and was shared on the prior panel, particularly in the u.s. economy, there is a real fundamental strength. the consumer is weakening, but generally hanging on. the labor market is tight and at the end of the day, we have frontloaded the curve where if we need to start cutting, we can. haidi: let's get more on that bank of japan decision coming in just a few hours spared our next guest has no expectations for any imminent revision of policy. takahide kiuchi is a former boj board member and now an economist at the -- research institute. he joins us from tokyo. do you think investors really overdid the reaction to the governor's comments and that now very well known interview? >> i think --

financial markets have brought forward that the prediction of the timing of rate hike. according to a survey, most expect boj will increase short-term interest rate next year. some expect the january, or end of the year. i think the boj is focused on the outcome of -- in february or march of next year. it is unlikely that the boj will move. before the end of -- april could be reasonable but i personally expect the timing could be delayed to the second half of next year because of the economy

and market conditions. i think it depends on the -- [indiscernible] the boj is likely to postpone the timing of the rate hike. my forecast is that the second half of next year could be the most likely timing of the boj move. haidi: you've got the dollar index pretty close to this year's highest. if dollar strength continues and yen weakness continues, how do they balance? i am wondering what the governor can say today to try and support the yen a little bit, given that there is concern over how that is affecting consumer spending ability. >> i think he is paying attention to the impact of the

weaker yen to the economy. however, it is unlikely the boj will change their mind on policies, just to weakening's. i think -- lipservice today and then press conference. to the extent that the boj is also sharing concern over the weaker yen with the government. that could have an impact on the market. in may -- weaker yen. it is not likely that the boj will change their mind on their policies just to stop the weaker yen. shery: what about in order to

correct the bond market functioning? it has been really distorted through ultra easing policy for so long. >> the jgb market is not distorted so much. boj explained the process in july to restore the function of the market. i think -- is not necessarily true. the concept of the boj is that the boj has to purchase jgb, which may expand their balance sheet of the boj and in the future, that is good. how to say the boj profiting the future rate hike. that is the big concern for boj and that is the reason why boj tweaked the icc to reduce the

bond. under the previous governors, boj has had to try to stop the increase of long time yield. i think he wants to reduce this kind of risk. haidi: going back to where we started about waiting for the spring wage negotiations, what are you expecting there? are we going to see this positive wage inflation that the boj is waiting for? >> i think the majority of people expect the higher wage growth rate in the next spring. [indiscernible] this kind of expectation is too optimistic. i expect the wage growth rate in the spring will not reach the

expected level above 3%. boj -- 3% growth rate could be consistent with the inflation goal. i think it is not likely. the inflation rate is declining and in -- the most important factor to determine the wage growth rate could be the inflation rate. this year, january inflation rate was 4.2%. under that price condition, basic growth rate was 2%. the beginning of next year, the inflation rate will go down below 2%, in my expectations. i think the salary growth rate could be below 2%. it is unlikely that -- may

exceed 3%. the boj cannot declare that 2% inflation goal may be achieved in the near future. >> takahide kiuchi, great to have you. former board member of the bank of japan, current executive economist at nomura. we've got trade numbers for new zealand. a little bit of a miss on exports, just shy of $5 billion for august. expectations on the prior reading was just above $5.5 billion. imports at 7.28 billion dollars, stronger than the previous reading. that leaving the trade deficit at 15.5 billion quibi dollars and the trade deficit at $2.29 billion for august or this comes as we did have the economy surprising to the upside in

recent gdp numbers, but expectations the -- may return. more to come. this is bloomberg. ♪ financial insights from merrill. is he hailing a ride to the concert hall? no. he's making sure his portfolio and retirement plans work in harmony. they want to adopt a child and build a new home. so they're talking numbers with their merrill adviser. she's not researching her next role. she's learning how to handle market ups and downs without the drama. personalized advice so impressive your money never stops working for you with merrill. a bank of america company.

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two sessions of gains in new york. on the other site, underperformance for the aussie and the kiwi. right now holding steady at around $.64. we have been watching the offshore yuan as well. pressure against the strength of the dollar, but really it is about the japanese yen. we are talking about studying it's near 10 month low, watching for the 150 level that some analysts consider a trigger for intervention as we head towards a boj policy decision. before that, cpi numbers as well. daybreak: asia is next. i was able to create my website on my own. to have it be exactly what i want it to be. be able to integrate my appointment app. godaddy was able to provide everything that i needed. the whole image of who i am and what empire is

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(jennifer) the reason why golo customers have such long term success is because we focus on real foods in the right balance is presented through my godaddy website. so you get the results you want. when i tell people how easy it was for me to lose weight on golo, they don't believe me. they don't believe i can eat real food and lose this much weight. the release supplement makes losing weight easy. release sets you up for successful weight loss because it supports your blood sugar levels between meals so you aren't hungry or fatigued. after i started taking release, the weight just started falling off. since starting golo and taking release, i've gone from a size 12 to a 4. before golo, i was hungry all the time and constantly thinking about food. after taking release, that stopped.

with release, i didn't feel that hunger that comes with dieting. which made the golo plan really easy to stick to. since starting golo and release, i have dropped seven pant sizes and i've kept it off. golo is real, our customers are real, and our success stories are real. why not give it a try?

♪ haidi: you are watching daybreak asia live your knee in hong kong.