hong kong opening as well.heidi mentioned, we did not get any firm details coming through but we are seeing that buying momentum. let's look at some of the movers. there is a fair bit of corporate news around today. the best gainer, up 9.5%. this deal has been approved by the government. it still needs shareholder approval. we are seeing shares up 9.5%. also, very much under pressure. technical showing it was in over scored -- oversold territory. buying comingive through from travel related stocks. atwe switch it out and look the losers, toshiba shares under quite a lot of pressure. down 5%. there was a story saying some stakeholders are seeking ¥18.3 seekingworth of -- ¥18.3 billion from toshiba following the accounting scandal. also under pressure in sydney. down 10%. seeing flat sales growth. you.ad: thank a quick check on some of the first word headlines. sayinglas fed president things are on track for two rate hikes. his comments a bit of a shift from the past. as the fed backed away from hikes in the face

rhl there for us in hong kong.oming up, cathay pacific promoting and new ceo weeks after its first annual loss in eight years. we will look at this formidable set of challenges for the new leader up next to this is bloomberg. ♪ haidi: this is "bloomberg markets: asia." cathay pacific has named a new ceo after seeing the first annual loss in eight years. rishaad: chief operating officer facing a slew of challenges here. indeed come the list is a long one, is it not? >> yes, it is quite a long list. the immediate problem they have to sort of face and try to resolve is the competition they are facing with the chinese carriers. the chinese carriers have aggressively been expanding overseas, offering nonstop flights from china, basically preventing people from having to ub through hong kong. so the hub status of hong kong is under threat because of the chinese expansion, and that is one of the things the new ceo will have to address. rishaad: he also has to address this share price ultimate, hasn't he? this tells it all

rishaad: i rishaad salamat in hong kong.s fargo looking to make amends as it tries to move past it's fake account scandal. the bank is aiming to rehire about 1000 staff after the board issued a scathing report about long-running abuses. about $28aking million from the former executive, after he failed to keep warnings -- give warnings of abuses over more than a decade. faces whatlays ceo has been described as a significant pay cut and an investigation for trying to identify an anonymous whistleblower last year. the u.k. financial conduct authority is looking at his conduct, and the banks responsibilities surrounding whistleblowers, saying they could be banned from the industry, if the fda deems him not fit or proper. rishaad: executives at deutsche bank stopped short of ramping up holdings at the latest capital increase.the ceo says he and other board members largely bought shares to raise the stakes. haidi: asian markets, tracking the u.s.. political risk in asia and the middle east. advisers staying long on risk assets but

in hong kong, 11 p.m. -- 11 a.m. in sydney. rishaad: i'm rishaad salamat from bloomberg asia headquarters in hong kong. this is "bloomberg markets: asia." ♪ haidi: trade talks and tensions. mike pence goes to japan on part two of his trip to asia. rishaad: regional stocks extending gains. new york has the biggest gains in six weeks. haidi: fidelity and guarantee approach.it was seen as unlikely to win regulatory approval. rishaad: the u.s. could default in the markets and not paying attention. the u.s. vice president is heading to japan. meeting with the deputy prime minister later on the agenda. north korea and nuclear ambitions. geopolitical tensions are roiling markets of late. we have a lot of pressure on beijing from washington at the moment. some of it is apparently working. the u.s. is getting encouraging signs that china is going to act to pressure kim jong-un's regime to dismantle their nuclear weapons program, and that we have mike pence also warning pyongyang that they should not really dispute the resolve of his bos

in hong kong, 11 a.m. in sydney. i'm haidi lun. rishaad: i'm rishaad salamat coming to you from bloomberg's asia headquarters in hong kong, this is "bloomberg markets: asia." ♪ haidi: asian markets extended gains sparked by the french elections. the euro holding onto the biggest advance since june. rishaad: demand for chips, as k high next get the best results in a while. haidi: china pledges more economic transparency. the pboc will balance the need for stability while controlling asset bubbles. rishaad: sending a different message. weibo currency opportunities. global relief rally continues after the french election, seeing a rising tide, listing all markets across the world. , taking a look with attention to the european central bank. japano have the bank of starting its two-day meeting as well. that is on wednesday. gdp growth figures out of the u.s., looking forward to all that and more as we see the optimism flowing into this part of the world. haidi: that's right. it is a bit of a client trading day, given the australian and

wooden chinese ships known as junks were a defining image of hong kong.rs, there were only two chinese "junks" regularly seen in hong kong harbour. now, there's a third. but the father and son team who built the ship fear it may well be their last. 0ur hong kong correspondent juliana lui went along for the maiden voyage. a celebration of the chinese goddess of the sea. crews of ships from all over hong kong, to pay their respect and ask for protection. traditional chinese junks, with their distinctive sails, have been on these waters for nearly 2000 years. they still take pride of place at annual festivals, but in this day and age they've lost that status as working ships to modern vessels. decades ago hundreds of wood and chinese ships regularly crossed victoria harbour. they were the lifeblood of the city. now, the aqua luna ii, here on her maidenjourney, is one of only three junks left in hong kong. she was completed at this shipyard. her creator has been making ships since he was 16. now 86, he says this junk will be his last. translation: in hong kon

translation: in hong kong there are only a few people making wooden ships.aff who know how to do this kind of work. the aqua luna ii took more than two years to build and cost more than $1 million. it is entirely made from wood in the traditional way, which means no nails were used. after a career spanning seven decades, mr wai has passed his skills to his son, who loves making traditional wooden vessels, but says the lengthy government approval process hinders his work. translation: the most important problem is the strict rules from the hong kong marine department. so many restrictions. so at the moment i really don't plan to make another one. after this trip, the aqua luna ii will be taking visitors on daily tours. mr wai is proud of his lastjunk. there's no question that the old traditions are fading. but this ship will be a permanent fixture in victoria harbour, reminding everyone of hong kong and china's rich maritime heritage. don't forget you can get in touch with me and some of the team on twitter — i'm @james menendez. i will be back with headlines

we bring in the ceo inga beale live in the hong kong studio. welcome to hong kong.when we see lloyd's and other insurers dealing with an environment of weak pricing, low returns. what does asia -- what role does asia played? been doingve business in this part of the world for many years, lloyd's has a 20 year history in hong kong. but we have had business in the region for many more years than that from london. us asly it is apparent to we get closer to our customer base, we cannot do everything remotely from london. hong kong, 20 years, japan, 20, china, 10. about gettingll closer to the customer and understanding their individual needs and bringing lloyd's specific expertise in insurance where the business is happening. yvonne: china and india, very much alike in the market, quite protectionist. you have to find a local partner and venture. are you more comfortable with the regulation environment in both those countries? inga: lloyd's is unique because we are in insurance market. we have the 60 different businesses operating within our market. the rules and regula

in hong kong, midday in sydney, 9:00 p.m. in york. i am haidi lun. bloomberg markets: asia." ♪ marketssia-pacific higher at the start of a new quarter, the yen climbing on the improving outlook for corporate japan. loser amid fears it will miss its earnings that line. , tokyo down to the wire has 2020 vision when it comes to the upcoming olympics. are 30 minutes away from the open in hong kong, china and taiwan closed for trading, but singapore and malaysia coming online, a slew of asian pmi's, the markets have a lot to digest. let's get it over to david ingles. happy first day of the quarter, by the way. david: and to you as well, heidi. ofeak dollar story, a bit deals. the leaders across asia, a few flat markets. south korea .5%, new zealand, singapore, we won't get into the details. japan erasing earlier losses. have a look at the currency markets, inflows, the south korean won, a big movement with high beta currencies like the won. 1111 predicted in the next few months. all right, put this up and have a look at the commodity markets, and no movem

and selling for the first time in hong kong for $86 million. an iconic andy warhol painting of chairman mao has been auctioned in hong kong. live from our studios in singapore and london. this is bbc world news. its new stay. —— newsday. good morning. it's 8:00 in the morning in singapore, iam in london and 7:00 in the evening in southern colombia — where rescue teams are continuing to search through tons of mud and debris for anyone who survived the devastating mudslide. it's happened in the city of mocoa. over 200 people have been confirmed dead. hundreds are still missing and five villages have been destroyed. richard lister has the story. mocoa is a place of mud and misery. when the rolling wall of water and debris rushed through here on friday night, it swept away houses, cars, trees and people. whole families died here. the painstaking search for survivors is continuing. rescue workers moving quietly through flattened neighbourhoods, hoping for sounds of life in the wreckage. nothing here. with every hour that passes, hopes of finding mor

dollars in hong kong.e second issue here is the chinese institutions and chinese commercial banks at the directive of the central bank intervened in the hong kong market. have increased substantially, in order to make it expensive for you to speculate against the run and be . so yes, the market is free that is it free of intervention? no. vonnie: if we switch to the results of the france election, , 11.5.vix back below 12 the yen is close to 1.10 per u.s. dollar. is this a one-time shift in risk appetite? or does this continue if macron wins? komal: i think macron and the marine le pen victory in the first round is positive for france. the chances are very high that macron will turn out to be the victor on may 7. but that doesn't mean that everything is ok for france. macron, as president, with not -- president, will not have a big parliamentary government behind him. so france will have cohabitation. and john micklethwait said it best earlier this morning when he said it is like in the united states where

ime fun man in hong kong. >> i am betty liu in new york. >> -- i am yvonne man in hong kong. >> i amtudy has fundamentally change one should think about the chinese economy. tom mackenzie spoke to the economist, uncovering some uncomfortable truths. inequality is actually really bad for chinese economy. not for social instability, but for china's economy. china's government has done not enough, not sufficiently to help the poor by transfer income to the poor. i give you statistics, 40%, only 40% of chinese government spending are using as the transfers. the number is 36%. other european countries are higher. >> what had you learned about asset allocation and where chinese money is in savings? averageost is housing, inet, the housing asset china is 70%. in the u.s., 36% as a reference, so a huge number. like shanghai or beijing, 85% of total assets are in housing, so this is very unbalanced, to save the least. the government becoming more trustworthy, you think? >> i think they do become more reliable. i think they have been changing. not that they are not as reliable, the problems th

in hong kong. i am haidi lun.ishaad: i am rishaad salamat coming to from bloomberg's asian headquarters in hong kong. this is "bloomberg markets: asia." ♪ haidi: the pound reaches a six month high as the u.k. faces a snap election, theresa may wants a strong mandate. rishaad: the decision coming three weeks after triggering the withdrawal. early opinion polls give her a 20 point lead. haidi: the imf sees an uptick in the global economy. rishaad: the motoring world is in shanghai. we are live with some of the industry's top players. well, violent moves on the markets, the sterling after that surprise call for a snap general election on thursday, june 8, hoping to shore up a position in the conservative party and her personal position by getting a mandate. she has never won an election to the office of prime minister. part of the price action was to hated by people getting out of sterling. week of news, but shows you the positions they were building up. not as much as october, but a significant amount of short posit

rishaad: i am rishaad salamat in hong kong.unt you down to the start of the trading guide here, shenzhen, and shanghai. premarket pretty much flat, not a lot of conviction. the futures contracts suggesting, diversions, but we can expect the index to, well, flip between gains and losses. a story about the banks as well when it comes to china particularly, bank reporting season. that is what we have at the moment, on the way down to china construction bank down .3%, net income 10.2 billion dollars, the country's second-biggest bank, a big increase on fee income. #813 eight tells you shares in hong kong compared to shares in china itself. h-shares and a-shares, h-shares at a discount to a-shares traded on the mainland. if you look at china construction bank, there we go, trading at the biggest discount five cents a share. that is what you have, the one with the least discount is ab bank of china. there we go. take that as it it is an make of it what you will. haidi: we keep talking about premiums, but not happening so far. , china

yvonne: and yvonne man in hong kong.rillion yen ahead of the chinese property prices we are correcting to get later on this morning. let us take a look at the chart about have seen a couple months of these curves in china's efforts to cool down this market. we have seen the first tier cities in white. it has slowed down quite a bit. we are seeing pretty solid gains. there has been a lot of sentiment here on whether these curves are strong enough at the on the buyerat frenzy we have seen. let us talk about this more with the next guest. ofwart crowe, head asia-pacific capitals market, live from singapore. it makes me wonder about these capital controls and curves have seen in china. do you think they are just too timid at the moment, or is sentiment just too strong? stewart: well, sentiment certainly is strong, and i think you pointed out, in the tier one cities, you have seen some of growth slow and some of the transaction volumes slow. recent times,ore you have seen even in tier four cities some of the curves being disc

here in hong kong.t of spring or summer humidity coming in during asia's first major market open. betty: it is 7:30 p.m. tuesday here in new york. also a beautiful spring, a little chilly, though here in new york. a little nikkei for the bulls and the stock market. it was down 3/10 of 1%. i am betty liu in new york. yvonne: i am yvonne man in hong kong, you're watching daybreak asia. the imf has raised its global growth forecast. the rise of protectionism could undermine that optimism. they see the expansion of 3.5%. that is fueled by a bouyant financial market. growth remains subdued and the risk of trade warfare is high. $1 ceo of prudential's trillion asset manager says investors should be looking for opportunities outside the united states. --id hunt told markets bloomberg markets have been overly optimistic about trumps promises on regulation and taxes. he said india and that you provide more optimism -- and e.u. provide more optimism. >> the markets have gotten ahead of themselves. these changes w

i am rishaad salamat in hong kong.: uber is struggling to hold onto its top team as it faces a wave of scandals and obligations. na li to of policies and communications has resigned. she helped to plan its battles with governments around the world. thewas also in charge of company's public relations team, which has grappled with a series of crises. rishaad: america's top auto dealer is not buying tesla being worth more than general motors. mike jackson saying the idea is "inexplicable." 1% to fallmore than behind gm once again. investors are calling for two new board members not linked to elon musk. the six fellow directors have personal ties to the chief executive. toyo to warning the u.s. auto market has peaked and will shrink this year despite unprecedented incentives. deliveries may fall from last year's record 17.5 million. discounts are at the highest ever after total u.s. auto sales declined in each of the first three months of this year. turn to some data out of japan, machinery orders for february beating esti

are usinggn investors hong kong, putting money in china.t we are seeing is the tpi, which, that data will be released today, that is peaking. but it is still pretty weak. that tells us demand is pretty weak. time, ite same produces margins that are squeezed. now, it is for rising for a couple of months. much of the good news is that it has been priced in. with geopolitics and tensions rising, it would be difficult to be bullish on asian markets, including china. comes to least when it different scenes within the chinese stock market, would you say there are bargains out there? we have a chart on the bloomberg us chief financial firms. they are training at the biggest discount since 2004 two both the msci china as well as their asian peers. would you say that could get into the chinese fans, or could that leverage and tighten concerns? guest: the chinese banks always shift. even so, it has been underperforming for many years. they have underperformed because it is such a large index component. having said that, the yield is good on those com

inhaad: i am rishaad salamat hong kong.unt you down to the start of trading here, china, and we are looking at the premarket session on the way up by .4%, hang seng on the futures similarly higher. resortshe stocks, wynn came out with figures overnight, wynn macau helping, up 4% in premarket. let's go into this chart showing blue hasmacau in outperformed its peers. we have the recovery in macau after being in the doldrums. declining gaming revenues, and it has turned positive against some basic facts as well. well -- basets as effects as well. haidi: headlines for all the wrong reasons, suspect wealth management products being sold to clients in one of its branches in beijing to cover up another fraud. it turns out like it is a more mundane case of forgery than anything else involving one ranch manager, but not a good look when it comes to internal controls. that stock is up 11%, but trading sideways, certainly underperforming for the hang seng. we do have earnings coming out after the market closed today, so we will be wat

in hong kong.ilver lining, you are talking about the unemployment rate, the lowest level in a must a decade. i'm glad it is the start of a new week. , payrollch a wild ride data disappointing, not to mention syrian air strikes and we have to factor in the meeting that just wrapped up. that's right. it was so interesting to be so close to these leaders deciding the fate of 2 billion people. pretty much no deal actually came out of it, no deal on trade, currency manipulation, .orth korea it was a short trip. president xi jinping was in and out, and now we are unpacking this. an invitemp accepting to go to beijing in the future. i was expecting something of a gift from the xi jinping, like prime minister shinzo abe bay did. let's get a check of the markets in play. , stocks falling for a third session. on the political side, the main opposition party saying it will mandate ifz the dual it wins this year's election. asx 200 futures pointing upward. the aussie dollar is currently bit.ng ground slightly,

i am david ingles in hong kong. concerned about the risks around mortgages issued by the city property developer. tomay take additional steps manage exposure to the property sector. aboutest is here to talk the story. we have to get started with do they have a reason to be worried over the property sector? >> there has been a surge in developer-led financing for home purchases. if a buyer is buying a new apartment from a developer, many developers are buyers with attractive mortgage offers and tax rebates. are,of these mortgages they offer high loan-to-value ratios, which means these are aggressive mortgages, and that thathe hkma concerned these might be risks over and above what the system might be able to tolerate. david: when you look at where we , you doe from understand why it year after year people keep talking if we are at the peak. #76 35, flying high, hong kong housing prices outpace economic growth. there is a warning now from j.p. morgan. >> that's correct. , he is sensing the markets may have peaked, and

janet in hong kong.anet yellen says the fed is moving towards a gradual rate hike -- with a wrap up. kathleen, the fed, pretty determined to move ahead with rate hikes. kathleen: a boiled it down to a simple formula. janet yellen was speaking at the university of michigan, interviewed by a susan collins from the business school and students asked questions but bottom line, she stuck to her story and she calling for gradual rate hikes, and here is why. number one, the economy is near full employment. she thinks it may have started to go to low on the unemployment side. inflation, the 2% goal. fallinghas to avoid behind the curve. if they fall behind the curve, later, they had to hike rates quickly and could push the economy into a recession. it was a couple interesting things she said along the way. unemployment might be a misleading indicator. in other words, maybe it does not give us a true picture of the economy and there could be more slack. when asked about inflation, she talked about inflation expec

yvonne: and i'm upon men in hong in hong konge men -- yvonne man in hong kong.ry when he inflate a ruptured and a third crash in march -- las vegas. this airbag came from a batch that honda says has a 50% chance of exploding in an accident betty:. -- accident. betty: asante has joined forces with general motors and volkswagen, and is importing locally made buicks since blaster. it plans to send its own cars to the u.s., but says it will now focus on china and europe yvonne:. yvonne:-- europe. china is cracking down on apple's live streaming apps. apple was forced to shut her itunes movies and ibooks last year, and has wanted to them series of trademark disputes with local rivals. betty: and another set of u.s. earnings after the bell. let's recap what we saw after the bell. higher, one lower. we have a mix set of earning -- mixed set of earnings. ebay's forecast may miss analyst estimates, and that is what is weighing into the markets going into the open on thursday. analyst say even a is still struggling with the turnaround. numbers show they are struggling to

hong kong coming back after being closed yesterday.eing an upside when it comes to the premarket session. joining in on a rally we are seeing across area -- asia, rebounding from yesterday's losses. we are taking a look in particular when it comes to as oe's and divination -- soeed's and dividend yielding. take a look at this chart. you do not associate this with the chinese market, it is a more conservative market when it comes to dividend returns. they have been faring better in china than elsewhere. all the hopes that we are seeing soe shareholder value reform. they are hoping they would also be hanging out shareholders. the markets are just opening up, let's go to our reporter. reporter: coming back from the holiday, stocks are on the rise up .4%. in shanghaig a rise of .6% just ahead of trumps meeting with the chinese president. that will start thursday where they are expected to discuss trade as well as north korea. something in china's dividend stock place here, something that is not been china's strongest suit. some update from

yvonne: i am yvonne man in hong kong.e day 8% higher after encouraging first quarter headlines. we have been following it. what drove it higher? >> better than 12%. almost 7.5%own with gains. the story is, they boosted their subscriber growth -- user growth, much more than analysts expected. it was an area of struggle for the company. so that gives optimism to investors. however, there are concerns in that it was their first quarterly decline in sales since their 2013 ipo. analysts are saying there is some stability going forward. another big story we saw come after hours. the stock down as much as 4% in trading. it is that big cholesterol drug that is been leading sales, had a 15% decline and that is raising concern. we will see that play out in the thursday session. betty: thank you so much, su keenan with how the markets and earnings are propelling the markets. let's bring back ed conard with final thoughts on the markets. we are here, almost closing out the first 100 days. the white house take credit for a few things.

hong kong's flagship carrier cathay pacific has announced a change of leader.nt chief executive will be replaced by the chief operating officer, rupert hogg. a few weeks ago the airline reported a loss of $74 million for last year, the first annual loss since 2008. earlier i spoke with an industry a nalyst earlier i spoke with an industry analyst and asked why cathay pacific is struggling. there are a few key changes which have happened to cathay. you can say that their greatest advantage, being close to china, which drove their traffic throughout their history, has become a major disadvantage. you can see the chinese carrier is adding immense capacity so trainees passengers have options to bypass the hub in hong kong and fly direct from major chinese cities and in addition foreigners who might be travelling who used to fly with cathay and change at the hong kong hub can now fly direct. is this all symptomatically something all premium airlines are having to deal with, or is it specifically a problem for cathay pacific? varies across the industry how people are

yvonne: i am yvonne man in hong kong. watching daybreak asia. there is first word news with courtney collins. the bank of japan governor it says policymakers will continue with very accommodative monetary policy and maintain asset purchases for some time. speaking exclusively to bloomberg, kuroda said there is a chance that reaching the banks 2% inflation target may be delayed. i news report says china is prepared to hold oil experts -- exports in another test. on pyongyang,ity the claim comes as more military torcises happen as a prelude invasion and threaten an attack. e.u. governments have toughened on brexit negotiations and safeguarding citizens' rights. it suggests theresa may will not have an easier ride even if she wins june's snap election. talks will begin after the vote. meetingto the latest say they are concerned about inflation with the economy expected to pick up steam in the second half. the governor said headline inflation undershot the 5% target in the final quarter of the year ending in march. a called f

david here in hong kong. to pick up on yousef's point and bring up a chart to show as well. ,t is times like this when keeping a fairly big portion of your fund and cash really comes into play. do i buy the dip? we went from 8.329% in the year. -- in theom 13 to currency. still somethere is uncertainty. we need to wait slightly longer to be in a bit more clarity. i think the major risk event is behind us. we might see waste of volatility. i think it is not so much the political development, but more of a case of any major changes in the commodity environment, for the timelicy being. perhaps it is a good time to start considering buying at this stage. david: when it comes to turkey, there is a referendum coming up, do we put turkey in the same risk boat as south africa? apostolos: no, this is entirely different. turkey is changing the constitution. major riskuse the isn't for the region. we still do not have clarity of how the result of that would go. in one point, if you actually enter it around, and as a man

yvonne: i am yvonne man in hong kong. casino in macau is playing out to wynn resorts. an improvement back home in las vegas. macau is jumping back from a three-year slump triggered by china's focus on gambling in excess. it rose 13% in the quarter. the strongest growth since the recovery began in august. betty: a rebound from airbag related losses is expected to push honda back into the back for the last quarter. also forecasted its profit growth more than 60%. most of honda's japanese rivals will post declines due to the stronger yen on friday. yvonne: a group of japanese lawmakers will lobby the government to put national interests first on the sale of toshiba's chip business. they say it is a security risk in the transfer of technology abroad. toshiba is selling assets to raise money after the bankruptcy of its westinghouse nuclear business. betty: china merchants saying one of its largest commercial banks is raining and its nonconforming loans to rick -- reduce financial risk while raising the government campaign agai

i am in hong kong. yousef: and i am in dubai.i's benchmark has big gain since december after getting a boost from the city's biggest lender. they've seen a 5% rise. here with us to talk more about what is behind it is tracy. before the merger, we heard all or a good chunk, saying don't buy the stock. now looking at the price, it is remarkable. tracy: pretty remarkable. it is the first week of trading of the combined entity. it is trading under the ticker. but we are seeing some fireworks over the past few days. shares are up 3.4% yesterday. what is driving that? it is down to benchmarks and indexes. a entity, it is flows. it speaks to the power of index funds and benchmarks as well. shery: the other big mover has been abu dhabi national energy company. run-up.e a big is this all speculation? now -- it is aht really interesting story. last week, we had that big write-down and in the first two days of trading after that huge write-down, he saw the shares move up something like 24% over the course of two days. lots of people talking

sophie kamaruddin in hong kong. the white house has warned syria's president to stop using barrel bombs against his own civilians, suggesting president trump may expand his criteria for u.s. action against the assad regime. the comments, alongside last week's missile strikes, are set to complicate rex tillerson's position when you travel to moscow later today. joining us on the phone is our foreign policy reporter, nick wadhams. nick, you have been shadowing tillerson along this italian trip. will you go with him to moscow, and if so, what do you expect from this visit? >> well, at this point, we're not traveling on his plane because he hasn't allowed reporters on his plane for cost-cutting reasons, but we will go later today. he is definitely meeting with the foreign minister, sergey lavrov. it is unknown if you will meet with putin. but he is expected to deliver a tough message from the administration, which is that we are laying down our arms and the red line. manus: good day. over the weekend on the news shows,

it is a living: 44 in hong kong. -- 11:44 and hong kong. its offer for panahome. it will now offer the equivalent of $109 a share for the rest, vying the offer at $850 million. original argued the offer undervalued to homebuilder by more than 50%. top indian accusing i.t. companies of unfairly dominating h-1b visas by entering extra tickets in the lottery. the white house has a small number of outsourcing companies flood them with applications. named by the administration has the top three recipients of h-1b work visas. ofoese bike sharing service plans to expand to 200 cities this year. the founder said he sees bubbles in the industry, but thanks his distance has the scale to survive. has 3 million bicycles and has raised $633 billion since its inception. he says the industry is still in its emphases. i think there are bubbles in the bike sharing market. there are three phases for the players in this business to evolve, fighting to put more bikes on the street, competing to make bikes easier to ride, and battling to have better maintenance

an iconic andy warhol painting of chairman mao has been auctioned in hong kong. the bbc has seen evidence of so—called islamic state appearing to use children as human shields in the battle for mosul. it comes as the militants are all but surrounded in the old centre of iraq's second city and there's a growing concern over civilian casualties. bbc persian‘s nafiseh koohnavard and producerjoe inwood were given exclusive access to iraqi helicopter pilots flying over mosul‘s front line. here's their report. far below, a city that was once home to two million people. we are flying with the helicopters of the iraqi army as they fight the so—called islamic state. we are now over old mosul, where the battle is at its fiercest, as well as the last isis fighters, there are many civilians still trapped in the narrow alleys. and this footage, taken from our helicopter‘s camera, shows the challenges the pilots in mosulface. radio it shows armed men walking through a war zone with children. radio military sources have told the bbc this is the clearest example yet of the use o

juliana liu, bbc news, hong kong.boat races earlier. in the women's competition, cambridge stormed to the finish line in 18 minutes and 34 seconds — beating the record set in 2015 by more than a minute. for the men, oxford made it four wins in five years, beating their opponents by just over a length. look at those guys, absolutely exhausted. that's it from me. good life. —— goodbye.. good morning. if you like your weather dry and sunny, you were very happy with the first couple of days of april. in fact, we had sunshine topping and tailing the country. just look at this picture from sunday in south—west scotland. a beautiful day here. similar story in the london area, as well, where you can enjoy the spring blossom. it was the warmest place in the country with 17.2 celsius in st james's park. now, our week ahead will be a mostly dry one. just a little bit fresher, though, and i suspect through the night, some chilly nights will come. a touch of light frost not out of the question. high pressure hanging on in there in

here in hong kong. man.an -- yvonne one wants to make america great again and one has a chinese dream. betty: they both want to make their countries great again. a big fight between these two coup leaders, the most important leaders for the global economy in the world. certainly a lot on the plate here. you can see that tension in the u.s. where investors were nervous. butid and mostly higher they're also nervous about the jobs report tomorrow and what those numbers will mean for the fed. we did not give you much of a lead in going into asia. yvonne: that adp report set the bar high. we will see how it plays out later on friday. some caution here one hour into the session and new zealand. the index down one third of 1%. we are hovering around the six-month highs, the kiwi dollar at 69 u.s. cents. there were comments on housing and labor markets, .7541 four the aussie. -- we'ree dollar-yen missing one line. we see the dollar recover over 5, closer to that 111 level. futures trading now, looks like a pretty go

australia, new zealand and hong kong.n sophie to tell us what we should be watching at the opening in seoul. tokyo we arein watching for toshiba, the company has a life line extending to the end of the month. when it comes to the struggling airbag maker takata, they are still ongoing and could last until mid-may. hotspot, keep an eye on the stocks like korea airspace. that check-in with the futures board. we are looking at a weaker open after getting whiplash last week. they fell for a second straight week as investors watch the drama. a stronger yen is likely to weigh in tokyo. we will be ♪ >> asia-pacific markets set to fall after a fourth straight week of losses, the yen strengthening. , anpple may offer toshiba investment in its memory chip unit. china escapes being branded a currency manipulator. trump links the decision to north korea. uber's shedding light on its finances for the first time, saying revenue growth is beating losses and the road ahead is clear. >> this is the second hour of "daybreak asia" coming to

david: david here in hong kong.want to pick up on one of your points and i am glad yousef brought it up. these reforms, these things take times. change daily.an i am just wondering, with inflation at these levels right have tos the government worry about things likes toast -- social stability? it is the poorest people that get hit the most in times like this. nasser: the short answer is, yes. i think we have years in terms of social stability. our property levels have gone up and it is the poorest areas being affected. the danger here is that, we are in agenda, but not having a safety net put in place. we have these attempts at targeting subsidies, but we are still a long way from creating the jobs for young egyptian youth. remember that egypt has a very, very young population. fast-growing. egyptian youth growing the labor force every year. you havepast few years not seen a lot of net drop formation. that is adding to the unemployment on the ground. the other big story has been the changes when it comes to fiscal r

. >> in hong kong, just made a good this is bloomberg markets: middle east. the end strengthening further as geopolitical tensions weigh on markets. the u.s. reviews its plans for north korea after a pyongyang show of force. calm.g version for chinese investment picking up. let's check the markets. those trading figures out of china are being felt across the markets. the australian dollar is mostly affected by chinese tray numbers. the china gdp figure pretty good. the australian dollars saw a jump. it is up 0.1%. if you look at the function on bloomberg, the south korean won is spiking 3/10 of 1%. we are seeing iron ore feeling the pressure, pressured since entering a bear market. the sovereign bonds, mixed a little bit. we are seeing the u.s. treasury yields continuing to slump. the australian markets are closed for the holiday. gdp numbers, china but also geopolitical tensions. north korea and turkey. plenty to digest. if you look at what happened to the turkish rea, the first gauge of their result and what a rally we saw, as much as 2.4% strengthening. vo

yvonne: 7:30 on a murky thursday morning in hong kong. 30 minutes away from asia's major market open.ndeed. it is similar, 7:30 p.m. wednesday in new york. a foggy skyline here. i am betty liu in new york. man in hong yvonne kong, you are watching daybreak asia. let's get first word news with courtney collins. jinping's president xi a lot -- arrives for meetings with president trump at mar-a-lago in florida. trade and foreign exchange are likely to be on the table, along with north korea's nuclear activities. trump has her peter the accused china of currency manipulation, stealing american jobs, and failing to rein in kim jong-nam -- kim jong un. the largest stretch since the pboc began operations at the beginning of last year. they said they decided not to liquidity inverall the banking system is relatively high. the seven-day repurchase rate to a second day after climbing to it near two-year high last week. strategists are scrambling to raise their forecast for the indian rupee after its biggest quarterly gain in more than four years. at least eight banks have upgraded their estimat

well, as you said hong kong, the hong kong government slapped a 15% tax on first time homeowners whoore than one flat at a time. so, what was happening was investors were coming in, snapping up investors were coming in, snapping up multiple units in one go to qualify for lower tax rates. these buyers were using one legal contract and they only had to pay 4% tax duty so now and they only had to pay 4% tax duty so now they are being charged the same 15% as someone buying a second property. there has been a lot of chinese capital snapping up some of the hong kong's best plots of land and at record—breaking prices and it has pushed home ownership out of the reach of many people who live there and the government hopes that closing this loophole will help the average buyer, but of course, hong kong is one of the most expensive real estate markets in the world. sarah, thank you very much indeed. investors ducked for cover on wednesday as a drumbeat of alarming geo—political news sent the safe—haven yen and gold to five—month highs and yields on top—rated sovereign bonds to their lowest for

this man has had a successful season, the hong kong man w011 successful season, the hong kong man wonampionship and the masters. but he made a poor start to this match while the belgian player scored heavily when he got the chance. it was not looking good for fu. after the midsession interval, the belgian made another big break to go 5—0 up. fu then responded to finally win a frame. the belgian took the next or stories five frame lead. but fu kept his hopes alive with a centre in the last frame of the session to trail 7-2. last frame of the session to trail 7—2. ken is the target for victory when play resumes. —— ten. two—time olympic champion kristina vogel retained her keirin title on sunday, winning her ninth world title on the final day at the track cycling world championships in hong kong on sunday. the german finished 0.061 seconds quicker than colombia's martha bayona while nicky degrendele of belgium won bronze. in the men's 1km time trial, france's world record holder francois pervis won the event for the fourth time, finishing comfortably ahead of czech republic's tomas babe

here in hong kong, a look right now, very quickly.f, equities are offered the dollar on the back foot. very green. the other big story is yields going back. japanese 10 year minus two. right at the zero level where that onceth him and it to be. >> flossing in terms of those assets. crude isn't in focus -- crude is in focus. the highest level in almost a year. also in terms of what is happening with gold, that has been extending the highest level in some month. if you look at what is happening with south africa, saw some gains of 2%. very interesting play and cover under pressure. the metals complex, three-month low on wednesday. uncertainty on where the donald trump will affect supply. this was a state of play with the benchmark. a strong start in the earnings season. stocks, energy doing well. foreigners are the course of five days, of 370%. >> a lot happening in the market. let's get you up to date. sophie: hey dude. earlier,from a year shipments rose 16.4% in dollar terms. more than two years. robust, the pace is likely to slow. co

. >> i'm shery ahn in hong kong. yousef, all in the red right now when it comes to markets across asia. virtually all falling. not surprising if you take a look at the gmm and go function on the bloomberg. actually asian stocks are now trading at a three-week low. surprising, the s&p 500 was devastated. it's all the day guest intraday reversal in 14 months. we also had the japanese yen just continuing to strengthen for five consecutive stinks -- or five consecutive sessions. this being felt across markets in asia. southern that markets gaining across the board. the is. treasury reeled, gaining. what are you watching? yousef: in this part of the world, just two hours away from the opening of the markets. the uae specifically and to buy and be. this was the state of play. aking gains up the back of group sentiment on the back of improved oil prices. we are seeing some interesting moves when it comes to anything related to utilities. a weak spot compared to the gains. the best performer has been dubai. six consecutive s

rishaad: 9:42 in hong kong.ses policy of employee travel and will ensure that crews are booked at least an hour before departure. mediaange follows social backlash following this video showing a united passenger being removed from the aircraft. that went global. he was taken off that flight to make way for an airline employee. haidi: the first u.s. bank earnings under president trump shows a split between wall street and main street. j.p. morgan and citigroup beat first-quarter estimates. which focuses on traditional consumer and business banking, reported sluggish results and the decline in total loans. rishaad: bp is trying to close an oil well on alaska's north slope after a leak was discovered. it is venting gassing crude and the epa has yet to determine size of that leak. ep saying the problem is contained and no oil has reached the ground. production rising to 565,000 barrels last month, the highest level since december 2013. haidi: tension remains high in korea following the show of force of the weekend.

in hong kong. i am yvonne man. massive risk on rally started in asia and swept through here as well as the u.s.. yvonne: it seems we are poised for further gains in the region. betty: it has come full circle back to the u.s. and now back over to you. as you had mentioned, new zealand and australia markets are closed today. u.s., it was all risk on, and the financials were the leaders here. yvonne: yeah, that is take a look at how markets are trading in the asian pacific as you mentioned. australia and new zealand are closer today for the holiday. this is what japan teachers are looking like right now. it looks to be pretty positive, and we are set for possibly a fourth day of gains. dollar-yen, we have come back down a bit on that yen weakness. it is 109.81. we were hitting above 110. it looks to be a good day in tokyo for equities. that is an early look at what you can expect in the region this morning, betty. betty: let us take a look. let us bring up a chart before we dig deeper into the market on that whole ref

shery: i am shery ahn in hong kong.dent -- reaction to trump's statement about china not being a currency manipulator. our currency editor joins us now. not really a surprise, given make the not in fact three criteria in the treasury department report. give us some background on what we should expect. >> nobody has expected in the past couple of months for the treasury department the label china a currency manipulator. if you look at what has been happening this year, china has allowed the yuan to strengthen. trumpbout-face from saying this will not happen, is not a huge surprise. it is a climbed down from what he said earlier. however, if you look at what is going on in the currency market, the trend in the chinese yuan could be slightly misleading because the yuan has lost your .8% against the dollar this year. that is compared to more than 7% for the japanese yen. the yuan has not strengthened as much as other currencies. ramy: i want to bring in our next guest, she believes china is motivated to depreciate the yuan.

an update from hong kong. and nicola sturgeon says second scottish independence referendum is the right one. a resistance will delay from the u.k. government untenable. >> scotland should have a choice over our future when the time is right. when the terms of the u.k. exit from the eu are known. it's gotten so chooses to opt for a different path. the prime minister is clear that the time she is working to his two conclude agreements by the autumn of next year through spring 2019. that seems to me the appropriate moment for scotland to have a choice over our own future and speak to pursue concessions -- discussions and eight constructive way. not having a future direction, choosing the future direction so welcomingn remain the country that is not just in line with bellies as a nation but important to be future of prosperity of the economy. she suggested another date? >> that is for the prime minister answer. i do not speak for her. which got parliament represents the people scotland has voted and voted to endor