selling $3.5 billion in euro -- and over in asia singapore's auction of 30 year bonds cover a ratio of1, which is the highest level since 2012. henry peabody, met tom's, and lori, henry, emerging markets -- a conversation of a trade war holding up really well, why? henry: it is hard to make a blanket statement that we like the space of em and there is a narrative around better growth. part of the u.s., were talking in the break this dialogue around the dollar being broadly weaker for the foreseeable future to provide a tailwind to that em position and volatility position,t a dramatic and those who take a long view of a fundamentally changing em stories are rewarded. jonathan: let's show you where things are as i see them right now. the mexican peso in emerging markets against the u.s. dollar, here is the move. a 10th of 1%. if this was 18 months ago and this was the residence best case ont would have a tariff steel and aluminum with more to come, what the peso move at a 10th of 1%? matt: we take the over. this is a specific issue of mexico and after, this is a global issue and a stance

holding its first offering as a high-yield issuer, selling $3.5 billion in euro -- and over in asia singapore'son of 30 year bonds cover a ratio of 2.21, which is the highest level for 30 or debt since 2012. with me is henry peabody, matt, and lori, henry, emerging markets -- a conversation of a trade war holding up really well, why? henry: it is hard to make a blanket statement about e.m. but we like the space and there is a narrative around better growth. a narrative about the early cycle compared with the u.s.. there is this dialogue around the dollar being broadly weaker for the foreseeable future to provide a tailwind to that em position, and volatility has come in dramatically. those who take a long view of a fundamentally changing em stories are pretty well rewarded. jonathan: let's show you where things are as i see them right now. the mexican peso in emerging markets against the u.s. dollar, on the session, here is the move. zero point -- 0.1%. matt, if this was 18 months ago and this was the president's base case that would have a 25% tariff on steel and aluminum would theto come, pes

asia, singapore's auction of 30 year bonds cover a ratio of 2.21, which is the highest level for 30 yearsince 2012. with me is henry peabody, matt toms and lori. in a conversation of a trade war, holding up really well, why? henry: it is hard to make a like a statement about e.m., but selectively we like the space and there is a narrative around better growth. a narrative around being earlier enough cycle -- earlier in their cycle. there is a dialogue about the dollar being broadly weaker for the foreseeable future to provide a tailwind to that e.m. position. volatility has come in dramatically and those who take , a long view of a fundamentally changing e.m. stories are rewarded. jonathan: let's get the function up on the bloomberg. i'll show you where things are as i see them right now. the mexican peso in emerging markets against the u.s. dollar, here is the move. a 10th of 1%. matt, if this was 18 months ago and this was the president's base case, that we would have a big tariff on steel and aluminum and potentially more to come, would the peso have moved at a 10th of 1%? matt: we ta

singapore. uber is selling off its south—east asia business to singapore —based rival, grabbed it.is this mean for two of the world's guest tried hailing companies? and is the largest employer of people in india, will find out why the country's farming industry has been stuck the same old gear for decades. —— with. good morning, asian, hello, world. it isa good morning, asian, hello, world. it is a monday, hope you had a great weekend and glad you could join us for this edition of asia business support. i am rico hizon. for this edition of asia business support. iam rico hizon. we for this edition of asia business support. i am rico hizon. we start off with uber and after pulling out off with uber and after pulling out of china, it is now giving up another, selling its business in south east asia to regional rival, grab and. two more, i'mjoined now by my colleague and business reporter. why there retreating from asia? it comes down to money, uber is reducing its footprint in asia because it is such a competitive market and they are not really able to turn a profit. so they obstruct

let's go to asia now — and singapore—based chip maker broadcom has been updating investors on the latestg to take over us rival qualcomm in a $100 billion deal until it was blocked by president trump. mariko 0i is following the story for us. suddenly in the spotlight, this company is, but interestingly in the conference call with investors the chief executive did not comment about that blocked deal by president trump who, of course, cited an national—security concern temperatures the company said there should not be any concerns. he also said that the company continues to look at the us as a potential market, prompting speculation that broadcom may be looking at smaller, lower profile targets in the market. in terms of earnings they came in stronger than analysts expected. the company did warn that they are seeing a slowing demand from us customers which many believe is apple, and growing demand from south korea. some speculating that is probably samsung ramping up their production. thank you very much indeed they now in singapore. —— let's stay in singapore where rico hizon has been out

sarah toms is in our asia business hub in singapore. listening out for the statement, this memorandum later from listening out for the statement, this memorandum laterfrom the white house? that is right. as you say, eve ryo ne house? that is right. as you say, everyone in asia is on a knife edge waiting to see exactly what chinese products will be hit and how much ta riffs products will be hit and how much tariffs will be. investors, policymakers, they are nervous. no one wants a trade war. even china has repeatedly said it does not want a trade war but it says it is ready to retaliate if tariffs are imposed and ina to retaliate if tariffs are imposed and in a briefing, chinese commerce ministry said today china will not sit idly by while legitimate rights and interests are hurt. they say it must take all necessary measures to defend its rights. if china were to retaliate, what could it do? china was one of the biggest buyers of us crops and that includes soya beans. one of the things china could do is put a tariff on that or it could ge

good morning, and welcome to asia business report, live from singapore, with me, marika oi.s from the us. the treasury has imposed sanctions on five russian organisations and 19 individuals. it is basically in response to their involvement in cyber—attacks on american businesses and institutions as well as alleged meddling in the 2016 presidential election. we explain what is new. the us already has sanctions against many russian oligarchs. today, 19 individuals have been picked by the treasury. robert mueller, investigating russia's actions in the election, has helped this. one of these is someone has helped this. one of these is someone known has helped this. one of these is someone known as has helped this. one of these is someone known as putin's chef, owning a restaurant business up at close to the kremlin. what is interesting is that steve mnuchin says these sanctions are for meddling in the election, but also for the recent use of a military grade nerve agent to murder to uk citizens. ——2. he has gone further than donald trump has in pointing to this alleged attack by

asia. leisha santorelli is in singapore. he has that a few things to say already. he is being interpreted across asia at the moment. asian markets are not reacting that positively. but i have to say that donald trump really knows how to keep his name in the headlines. the reasons why we are seeing in so many areas is that there is concern over the revolving door politics in the white house. yesterday, we sought to listen leave —— we saw rex tillerson leave. so there are concerns about the free—trade matters and the dramatic approach will be. he is a ready clash with donald trump over several things, including his tariffs on steel and aluminium. we have seen larry kudlow take jabs at china. he has basically said that china needs to be held to account for this huge trade imbalance. and the trouble administration is trying to see that imbalance narrowed by $100 billion approximately. 0ne imbalance narrowed by $100 billion approximately. one of the things we know about larry kudlow is that he likes a strong us dollar. 0n cnbc on wednesday, he said a great country needs

asia have relied heavily on discounts and promotions in the highly competitive markets driving down profit margins and increasing pressure for consolidation. of a more on this i'm joined by linda hong in singapore linda does this move mean failed in asia. well monica you know we were has actually been frustrating for investors already as it burns to billions of dollars since its founding in twenty nine and as you've mentioned it has a target to i.p.o. any needs to come up with the profitability and to appease its vestas who are possibly running out of patience as to when they can actually see their return so it's a new c.e.o. have promised to turn the company around to profitability with the target of twenty twenty two now there's also this means a change of direction from focusing on its right healing out to its autonomy as a vehicle technology some analysts see this as a wise choice especially when the right heavy emphasis is really a cut throat and it's dependent on as you've mentioned before just not promotions as well as discounts and in southeast asia you have grep that's actually backed by big sovereign wealth funds our fellow singapore ian to mustique and then in indonesia you go to ind

welcomed asia business report live from singapore with me, marika oi. white house's top economic adviser gary cohn has resigned, reportedly unhappy about the president's proposed tariffs and that it could trigger a trade war. we are already seeing the impact on the market, especially on the us dollar falling against safe haven currencies such as the japanese yen and swiss franc. mr trump tweeted that he will appoint a new person to the role in the coming weeks. the news of gary cohn‘s resignation came shortly after his comments that the recent dispute he disagree with. the united states has been taken advantage of by other countries both friendly and not so friendly for many, friendly and not so friendly for any friendly and not so friendly for many, many decades and we have a trade deficit of $800 billion a year. and that's not going to happen with me. mr trump is standing firm on the proposed tariffs so i asked oui’ on the proposed tariffs so i asked our business reporter in new york in this latest resignation of gary cohn had come as a surprise. gary

good morning, welcome to asia business report, live from singapore. us president donald trump has announced he will impose a tariff of 25% on imports of steel, and 10% on aluminium. arguing it will protect jobs and 10% on aluminium. arguing it will protectjobs in america's former industrial heartlands. us steel makers applauded the president's decision, while executives in other industries warned that the tariffs could hurt american manufacturers, and risk provoking a global trade war. but for workers in suburban pennsylvania, many of whom voted for mrtrump, the pennsylvania, many of whom voted for mr trump, the tariffs cannot come soon enough. jo miller has more. for almost two centuries, the —— this has been a mainstay of america industry, producing up to half the time it —— halfi million tonnes of steel per year. i was time it —— halfi million tonnes of steel per year. i was able to build my house and provide a good lifestyle for my son and i, but right now, i am injeopardy of having to start over at 47 years old. last autumn, kimberly and do hundr

good morning, and welcome to asia business report, live from singapore.is still all about trade this morning. and donald trump's trade war could start today. that is if you believed in reports the president will sign off on controversial tariffs on steel and aluminium. other industries are not sure this is a good idea. we have more from new york. brooklyn very is used to focusing on its craft but the company is increasingly worried about it brewing trade war, especially because it makes more than 50% of its profits by exporting a certain type of liquor. it will increase costs tremendously. if a trade war begins, that is very dangerous for companies like ours. in this company isn't alone. across the united states, businesses are struggling to figure out the potential impact president trump's ta riffs potential impact president trump's tariffs could have on their bottom line. the uncertainty stems not so much from steel and aluminium imports, but rather what could happen ina imports, but rather what could happen in a trade war. already, the european union h

good morning, welcome to asia business report, live from singapore.he world's biggest music streaming service, spotify, has gone public on the us stock exchange. of the ten—year—old compa ny‘s public on the us stock exchange. of the ten—year—old company's planning to do ina the ten—year—old company's planning to do in a rather unique way. spotify plans to hold a direct listing, selling up to $1 billion‘s worth of shares on the new york stock exchange. our us business correspondent explains why they chose this method. everyone is watching us closely because it is very unusual for watching us closely because it is very unusualfor a watching us closely because it is very unusual for a company to list in this manner. normally, when a company does when it lists or goes public is there are new shares traded on the stock market, and there is a broker or investment bank in between. what is happening this time is actually, spotify is not going to the markets to make money, it is not going to the markets to generate money. what it seems to be doing is giving cu

good morning, welcomed asia business report live from singapore with me, marika oi.l media companies are in the spotlight once again with facebook shares falling for a second day following reports us authorities are looking into facebook‘s handling of personal data and the scandal involving the consultancy, cambridge analytica, is affecting and other social media firm, twitter, whose shares closed down 10% in us trade. let's bring in our business reporter. cambridge analytica has suspended its boss, alexander nix, over these allegations of data harvesting and meddling in elections. cambridge analytica has denied all wrongdoing, as has facebook. we saw it to the share price though. $60 billion wiped out over two days, the size of a small economy. investors are worried about the implications of the scandal. will this deter investors and advertisers? will they face more regulatory restrictions? 0n advertisers? will they face more regulatory restrictions? on tuesday, we saw shareholders sue facebook in a class—action lawsuit saying that they have suffered losses because

good morning, welcome to asia business report, live from singapore, with me, mariko oi. after a few days of panic selloff switch we saw, investors seem less nervous about president donald trump's threat to impose tariffs on steel and aluminium. on wall street, the dow broke a four they losing streak, up 1.496. broke a four they losing streak, up 1.4%. investors started broke a four they losing streak, up i.4%. investors started to see the president's comments as a negotiating tool after he tweeted that canada and mexico could avoid his proposed tariffs if they agreed ona his proposed tariffs if they agreed on a new north american free trade agreement. we are now seeing asia following wall street, with the nikkei up by 2%. but is their enthusiasm premature? i put that question to my colleaguejoe miller in new york. they do seem quite optimistic about it at the close today, but earlier this morning, when the president tweeted those things and seemed to tie the fate of these tariffs to nafta, initially these tariffs to nafta, initially the read on wall street was that this

good morning and welcome to asia business report live from singapore with me. can see, china's national‘s people's congress has kicked off and is well in beijing. leaders began by setting 2018 gdp growth at 6.5% the same as last year and an increase in military spending of 8%. they are also expected to rubberstamp several sweeping pieces of legislation including removing term women for the president. lawmakers are also expected to create a powerful anticorruption agency and approve a major overhaul of its banking and insurance sectors, putting them under the supervision of one government bureau. all this while there is a transition in leadership at the central bank and the people's bank of china. these changes are crucial to president xijinping's effo rts crucial to president xijinping's efforts to bring down debt levels in chinese companies while the economy cools down. growth has dropped from 10% in 2010 to just under 7% last year and the international monetary fund says that will slow down to below 6% by 2020 to. earlier i spoke to an equities expert in hong

good morning, welcome to asia business report, live from singapore with me, mariko oi.l been waiting to hear from the boss of facebook and finally we have. mark zuckerberg admitted that the company made mistakes over how its users‘ data was handled. of course, earlier this week, as we reported, it was revealed private information of facebook users, some 50 million of us, was misused by political consultancy firm cambridge analytica. in a statement mr zuckerberg said: i started facebook. .. that was the statement he posted on his personal facebook page and he‘s giving an interview with cnn, in which he apologised for the breach of trust. he said facebook should not have trusted the data firm at the centre of this row, cambridge analytica, when it said it would delete facebook data it held, and mr zuckerberg has been under mounting pressure from politicians around the world to testify how it happened and he said in an interview he is open to testifying in front of the us congress. that british firm is under mounting pressure to provide answers as well. the british prime m

. >> meantime uber is selling itself southeast asia business to grab. grab is a singapore operation that offers ridesharing and logistics services throughout southeast asia. it's the latest interntional market for uber. in 2016 it sold its business in china. >>> the first nonstop flight between australia and britain is being called a game-changer by the chief executive of qantas airlines. the dreamliner touched down in london's heathrow airport yesterday after a 17-hour flight from perth. it cut three hours off its journey. the more than 9,000-mile trip is the second longest after the qatar service between doha and new zealand. >>> and apple has a new emoji. it's aimed to focus people in four main categories, blindness, deafness, physical and motor skills and hidden disabilities. some include hearing aids, signs and wheel chairs and canes. >> i like it. >> i like the wheelchair one. it's very nice. >> thanks a lot, diane. >> all right. >>> still ahead, chicago hope. the underdog's headed to the final four party. this is humira. this is humira helping to relieve my pain and

asia. >> what are we doing on singapore? the 9% comes after a series of stories.thes bring in to talk about noble here. >> they have a 30 day grace. deal, but what we are watching for the next payment is the principal payment on march 20. that one does not have a grace period. that would go against noble group's wishes, which was to go for a consensual base -- whichring without can be costly. an alternative restructuring plan. what is that entail? >> that is the latest news that we were reporting this morning. the potential bondholders proposed a new deal, a four-year deal at a much lower cost than what was originally proposed, so what is interesting here is bondholders definitely want to push for a higher recovery because they were the biggest victims. 96%initial plan works out , so in thelue interest to push for a much better plan, but what is interesting is if they were allowed to join, that means the recovery might be marginally lower, so it will be interesting to see how noble group management reacts to that and whether other credit managers would agree to th

let's get more on this from our correspondent, simon atkinson, who is in our asia business hub in singapore things were different beat in china, things were different beat in china, is this an unusual story? it sounds worrying from outside. china, is this an unusual story? it sounds worrying from outsidem does. aianb has 140,000 places listed to stay in china and as things stand, if you make a booking, you already have to give things like your nationality, your passport information, when you do the booking. until now, the details were held on aianb servers in china and if the police wanted them, they could have them. what changes tomorrow is that instead the details will be sent proactively to the authorities. you might not like the sound of it, aianb says it has nothing to sinister, it says all it is doing is bringing things into line with help hotels operate in china, they already routinely share details with police, they are legally required to do so. while aianb probably does not want to do this, it is a company famously fighting local officials around the world trying to restrict its o

sarah toms is in our asia business hub in singapore. things are changing. as facebook foals, tencent is seen as more valuable? that's right. tencent is often known as china's facebook. it seems very appropriate at the moment. the two social media giants have been neck and neck in value for quite some time. but now the gap has widened after the crisis. billions, tens of billions of dollars in fact have been wiped off the value of facebook. and of course as facebook is dealing with this crisis, china's largest corporation is riding on a huge wave of success. it has got some new hip games, a growing ad business, and the momentum is still growing for a wee chat, the all in one messaging service that drives it. tencent is just about to release its earnings. this is a very important timing. investors expecting some strong results. tencent is projected to report a 56% growth for the last quarter of last year. this is bound to be a positive impact on the tencent stocks tomorrow. as a result, we could even be seeing a bigger gap between tencent

our asia business correspondent, karishma vaswani, joins me from singapore. grab and go, tell us more. you are absolutely right. grab might not be well known in the west but out here in southeast asia, they are pretty much everywhere. grab was starting by a malaysian businessman. he isn't your usual start—up kind of quy: he isn't your usual start—up kind of guy, i he isn't your usual start—up kind of guy, i have to say, comes from a family business background. a few yea rs family business background. a few years ago he decided he wanted to branch out on his own and started a ride sharing app, grab. it has grown extremely quickly. it is now southeast asia's most popular ride sharing. according to the company, it has millions of users across eight countries in the region, including indonesia, the philippines and in singapore. when it started, it was just a simple ride hailing app but grab has grown to be the company that has been able to defeat uber out here in this market. it has harboured ambitions to be everything to everyone and hasn't been shy about these a

asia to this story. mariko 0i is in singapore for us. hello, good to see you.up today on how the markets have reacted to this news? samantha, as you can imagine shares in asian steel manufacturers are falling sharply. even though this move is probably aimed at china, places like south korea and japan export more steel to the us. of course, they are penalising america. so everyone are trading lower at this hour. car—maker shares are down as well because of course, they use a lot of steel and they see the move to raise the prices of steel. toyota has already warned they would probably have dounreay raise prices of cars and trucks they sell in america. essentially, american seamers having to pay more. as critics have been warning, this could provoke a trade warning, this could provoke a trade warand beijing warning, this could provoke a trade war and beijing has warning, this could provoke a trade warand beijing has said it warning, this could provoke a trade war and beijing has said it would retaliate should there be such an action. we haven't heard from beijing

in singapore. msci asia-pacific is weaker.ould we see more protectionist trade policy from the u.s. after tillerson's departure? let's talk about what is going on in the u.k. in terms of politics. theresa may will set out billy -- britain's retaliation against russia for the poisoning of a former spy and his daughter. u.k. prime minister will meet with security and intelligence chiefs after russian officials rejected riddance midnight ultimatum to account for the attack. joining us now our london bureau chief. what are we expecting to hear from theresa may today as she set out the timing of this, she gave the russians a fairly unappealing choice of two options and an ultimatum. they did not want to jump to this time verizon. -- time horizon. >> they were never going to heed the deadline. she said she would set out retaliatory measures. after that she would make a statement to parliament. this is a big test. how firm is she going to be with russia, what are the measures she could propose or an act which will make any difference

it would be prudent for us and use asia to have europe as a four part to talk about singapore's success is to talk about its first prime minister lee kuan yew adored by many appalled by some l.k. why as he is often referred to was as controversial as he was visionary. he does loom larger than life a lot of the story singapore tells itself is wrapped up with my grandfather and a lot of the story in the world has about singapore's wrapped up with him although he's a very rough and tough man by he gives you the confidence that i get things done you may not like it never mind but this is the way of being should be happening. when the died in two thousand and fifteen an estimated one and a half million singaporeans turned up to say their final goodbyes. most were ordinary people. grateful for what they said were the contributions of a great man. later that same year the ruling people's action party co-founded by lee kuan yew and in power since one nine hundred fifty nine one nearly seventy percent of the vote in general elections giving least son singapore's current prime minister lee hsien

heard te same from our vital allies to send it to mccain and to halifax in canada and to singapore in southeast asia for whole series of bilateral meetings with reference to discuss close and trusted allies senator flake and i've traveled to africa, senator graham and i travel to the middle east. in all of these strips what he heard was that are allies are concerned that you need reassurance about how and where we stand, and that in many cases yet they're beginning to move on past us and to reach accommodations with china or russia having included that we are not committed to engagement with the world. every time i go on a visit to a foreign embassy, intimacy of the united statesh overseas, i sit down with ourrk foreign service officers and ask about their work and your service and i am overwhelmingly with their professionalism, with her dedicationr. yet overwhelmingly the big number of vacancies at the senior level in the state department and the budget to propose a more than 30% cut in the state department and usaid, has had a significant demoralizing effect on these people who we cannot to advanc

asia. nancy hungerford is live in singapor singapore. >> hi, brian risk is back here. can tell you investors got a big sigh of relief in asia on signs of compromise between the u.s. and china when it comes to trade. w across the board every single market in the green today. that return of risk did see the yen ease off recent highs against the dollar that was good news pore t s for k nikkei 225 the second biggest gain here among the movers, tech names, exporters, yes, they were helped by that currency move but these names are the most exposed to an escalation for any tit-for-tat we're talking about toyota higher by 3.8% sony, honda, canon and nissan as well higher by 2.3%. the relief rally fully in play in asia. let's get out to joumanna bercetche in london. >> the theme is one of broad-based buying in europe ftse 100 has broken through the 7,000 mark we broke to the down side last friday, and now we're up above it similar story for xetra dax. the german index is up 1.8%. you can see cac currant, the french index and ftse mib are also posting strong gains. perhaps not as

there are no tolls in german cities something else asia's got a head start on in one nine hundred seventy five singapore became the first city to levy an entry fee for vehicles today it's one of the cleanest cities in asia. on the other hand you have to see that in india or china besides the industrial production which is going on all over the city as traffic also plays a huge role and they won't get their air quality problems sorted out if they don't start taking action on their traffic. and people are increasingly migrating to the cities a global trend siemens highlights in the crystal cities offer jobs culture hospitals it's senseless to keep polluting these increasingly important living spaces with exhaust fumes so which city would alex and ebbing house prefer to live in. here in london and london's got a huge debate going on about air pollution which the new mayor said he can is just beginning to deal with if i think about it probably move to the countryside. and understandable attitude for an expert in pollution levels in major urban centers. the diesel gate scandal is closely linked to air pollut

let's stay in asia and go to singapore for more on the market reaction to all of this.joins us from our mliv team. function up. hrh we are all the way to the left hand side of the distribution of outcomes we normally get in daily moves. chinese markets are reacting pretty aggressively, but the chinese response politically from a trade point of view isn't that aggressive. what do we have going on here? is the market overreacting? mark: you are right to point out that stocks in china have -- the response has been measured so far. in context, this will take many wakes to play up -- weeks to play out. we don't know where it will end and the latest round of tariffs won't be implemented until main first -- may 1. there is a lot of uncertainty, we don't know what countries will be exempted. it is hard to say the market has overreacted. they have suddenly woken up to a trade war that was flagged many weeks ago, repeatedly by trump and when cohn resigned, that was the implication. was implementtion a hard-line stance on trade over the price of u.s. equity market. suddenly, equit

our asia business correspondent karishma vaswani is in singapore with more on this story. not a done deal. it isn't at all, and it is important to underline that currently it has to be approved by the committee for foreign investment in the united states. just to remind our viewers what is at stake here, it is the cable and connector division of foxconn, and that company, that unit of foxconn which is based in taiwan, is planning to buy belkin international, and that makes smartphone accessories, things like wi reless smartphone accessories, things like wireless charging devices, home network products like your wi—fi route for instance, but given the fa ct route for instance, but given the fact that this purchase is going to be subject to approval from the very powerful american body looking after foreign investments, which recently if you will remember has been instrumental in representing foreign acquisitions in the united states. just a few weeks ago, the sale of the american firm qualcom to a singapore —based company was investigated, and that subsequently it is said l

singapore. stocks in asia higher after u.s. equities closed up a gun strong gains on signs that the escalation of trade tensions were beginning to ease a little bit. some optimism coming into the fear of a trade war. japan's benchmark rose 2% while the u.s. benchmark -- the nikkei and two thirds percent. the s&p 500 saw its biggest gain since august of 2015. joining us is mark cudmore. in life strategist. it does not feel like when you have the biggest drop in two years old by the biggest gain in two years, it does not feel like everything is back on track, it feels like we're looking at some big volatility. mark: you are absolutely right. many -- markets do not move in a straight line and maybe there is a reason for that. markets did move in a straight line higher in 2017. it seems agree have forgotten what volatility means. we get moves in both directions slump inassive prices. equity prices are below where they were on the thursday open, that is across the board to matter what benchmark index you look at. the still would not

asia. the likes of singapore, korea, taiwan, thailand, could be affected, but at the moment, it looks likehe biggest vulnerability's are those countries with direct account deficits that rely on portfolio flows such as indonesia and india. they have been amongst the worst performance of this year in the region. and that is probably because of the volatility of the risk aversion that has an afflicting markets in recent weeks. betty: we have got to leave it there. thank you. the senior emerging markets strategist joining us from singapore. you can get a roundup of the stories you need to know to get your day going in today's edition of daybreak. don't to dayb on a terminal. it's available on your mobile in the bloomberg and interact. -- bloomberg anywhere app. focusing on that tech route here today. check it out at dayb . this is bloomberg. ♪ betty: this is "daybreak asia." i am betty liu in new york. yvonne: i am yvonne man in hong kong. oracle fell after hours after reporting sales that underwhelmed investors. revenue rose 6% to $9.8 billion in the fiscal third quarter. the third-

when you compare china with other countries in asia, for instance japan, south korea, taiwan, singaporewhere a much larger portion of their exports goes to u.s., that has a much bigger impact. given the fact that china only has about 6%, 7% of its trade to the u.s. -- even if the u.s. and china go through more trade wars, that has a very minimal impact. when all is said and done, we actually believe that -- it's going to be a lot more diplomacy talks. there will probably be, i would say, just both sides having jabs at each other. at the end of the day, you're probably not going to see a lot of things coming out of some of these harsh talks between these two countries. haidi: ken, appreciate your time and inside. ken wong, eastspring investments. lots more to talk about on these markets as we kick off a brand-new trading month. not exactly on the right foot, are we? later on, we will get the views from robert rennie. sam will be on the show with us at 11:00 a.m. in hong kong. this is bloomberg. ♪ haidi: this is "bloomberg markets: asia." i'm haidi lun in sydney. rishaad: i'm rishaad sala

together to pressure north korea into giving up its nuclear weapons.obama's asia- pacific trip also included stops in singapore, new zealand and australia. (justine) coming up... it's an annual tradition at sonoma raceway. we'll take you out to the track for the antics of 24 hours of lemons. (jrstone)and a man builds his own rocket in an attempt to prove the earth is flat? did he succeed? we'll tell you just after the break. (justine) to prove the earth is flat, a california man launched himself nearly 2-thousand feet into the air... in his homemade steam-powered rocket.(jr stone) this after several previous failed attempts. the rocket... created by mad mike hughes....was launched in san bernardino county.....and landed hard in the mojave desert. hughes...ended up parachuting out of the rocket...after the aircraft reached about 18 hundred feet. (justine) the 61-year-old ..believes that the earth is flat...and his plan is to eventually launch himself into space to prove the earth is quote "shaped like a frisbee" mad mike says that outside of an aching back...he's fine after the launch. (jrstone) "24 hours of le

amount of second places that ever was going to move to but in asia when korea and china clamp down were just guess where really is singapore and here people are going to bahamas they're going to be v.i.i. they're going to cayman but they would much rather come to puerto rico and pay four percent just like they go to switzerland instead of you know as zero tax jurisdiction that maybe is not the place they want to live or operator or such clarity like they pay six percent in switzerland and i think that they will pay four percent and you could get a billion dollars of i.c.'s coming into puerto rico if there's a little bit more clarity and they kind of follow the wyoming lead all right let's dig into some technicalities here and i want to spend a long time on this but i think it is interesting to act twenty x. twenty two these are some of the minutia you encounter when you make decide to make a move like this can you kind of encapsulate in a minute the difference between the two just i just find this interesting michael just kind of brush on the tour so i'm not a lawyer or an account and i used to vote him in desmond's of vid

asia. mark cranfield joining us from singapore. , thiss were pretty choppy tip to the scales lower. tariffs? mark: no, it is not only about that. people are digesting what jerome powell has to say and the u.s. yield curve will change under his watch. people are getting used to the idea we might have four rate hikes this year compared to three last year. it has to do with u.s. monetary policy. it is not helping. the mood was not that good and you throw in the potential for a trade war. overall, a murky picture. one thing investors do not like is, the chance we have a policy mistake. policy mistakes are punished by financial markets. that is one thing investors mind right now. has a something gone wrong? the european union says these tariffs are not a good idea and that they might retaliate. it is looking pretty nasty. people want to take their money off the table and come back when the dust has settled. it is unsettling. doesn't exclude the u.s. from china's fast-growing consumer market? if china wants to retaliate, they have many different ways they can do so. you look at the huge a

most markets in asia will be open, china, japan and singapore among them. betty: 7:30 p.m. evening here in new york, where askets closed lower, but not bad as the 100 point fall we saw in the dow. tech continues to selloff. i am betty liu in new york. yvonne: i am yvonne man in hong kong. you are watching "daybreak asia ." >> the fallout from facebook's data scandal is increasing. it is resetting privacy settings on its network. home speakers with video chat capability are being reviewed to make sure they make the correct trade-off regarding user data. it will be reviewed at facebook's developer conference in may. facebook is no longer the top faang punching back. amazon is the new target. saidlunge came after axios president trump upset with regulating the company. it is not the first time he turned his attention on amazon, he accused them of squeezing low prices. boeing said reports it has been hit by one at cray -- one a cry acry ransomware has been over. it only affected a small amount of systems. miss's enterprises will its initial deadline to ship coal from queensland

our asia business correspondent karishma vaswani has been looking into this and joins us from singaporeails. well, the bleached un draft report that i‘ve seen alleges that the two singapore —based firms supplied a range of luxury goods to north korea including wines and spirits, and thatis including wines and spirits, and that is until as recently asjuly including wines and spirits, and that is until as recently as july 20 17th and stop the draft report also claims that these companies received funds in singapore for doing business in north korea. under un sanctions, it has been illegal to sell luxury items to north korea since 2006 and in fact sales of these items have been banned for several years. the singaporean companies deny or on doing but the d raft companies deny or on doing but the draft also alleges the two companies had long—standing close ties, including ownership ties with a north korean bank. that was put on a us sanctions list in 2017. the singaporean companies have said they had no interest in the bank and have been speaking to their lawyer he has confirmed to me that t

asia. the final report, which has been submitted to the un security council, is expected to be published later this week. singapore's foreign affairs has told the bbc it is aware of these cases, and has said that where there is credible information of offences committed under singapore law, the government has begun investigations. a draft copy of the report has been seen by the bbc. here's more from karishma vaswani. this is a shop in pyongyang, selling branded watches, handbags and alcohol — items which are banned under un sanctions and singapore law too. but now, a leaked un report claims there's evidence of at least one singaporean company selling luxury goods in north korea as recently as lastjuly. there are two singaporean companies named in the un report. they both share the same director and up until late last year, they both shared the same address here at this building. the main allegation against them in the report that we've seen is that they received funds in singapore for doing business in north korea. both singaporean companies deny any wrongdoing. according to the un, in 1997, singapore's ocn opened a

asia. the final report, which has been submitted to the un security council, is expected to be published later this week. singapore'sof foreign affairs has told the bbc it is aware of these cases, and has said that where there credible information of offences committed under singapore law, the government has begun investigations. a draft copy of the report has been seen by the bbc. here's more from karishma vaswani. this is a shop in pyongyang, selling branded watches, handbags and alcohol — items which are banned under un sanctions and singapore law too. but now, a leaked un report claims there's evidence of at least one singaporean company selling luxury goods in north korea as recently as lastjuly. there are two singaporean companies named in the un report. they both shared the same director, and up until late last year, they also shared the same address — here at this building. the main allegation against them in the report that we've seen is that they received funds in singapore for doing business in north korea. both singaporean companies deny any wrongdoing. according to the un, in 1997, singapore's ocn opene

asia when it comes to the u.s.-china trade spell. will you from the chairman of singapore's economic development board. d: and investors discussing the trade trend. this is bloomberg. ♪ ♪ "bloomberg is markets: asia." rishaad: asian equities down amnd there is lingering fears about a trade war between the u.s. and china. kirk, right here in our hong kong studios. so much noise out there as it is and conflicting voices. kirk: the geopolitical risks are strong. this market is pretty easy to call. the trump administration, at the beginning of last year, signaled they were interested in stimulating the economy and creating jobs and not concerned about debt. you can say the trump administration is very consistent. they are doing exactly what they said they would do. rishaad: why has the rally petered out? >> the expectation for 2019 is coming off a bit. earnings were 2018 are expected to be strong but if you look at what i call the second derivative earnings going for, they are coming off a bit. the markets are trading off of next year. rishaad: 13% growth, that's what you're reckoning is. that plays into no

asia. it announced it's selling its stake in eight countries to a rival from singapore named grab. the deal is worth billions. grab will integrate uber's ride-sharing and food delivery service into its platform. meanwhile, uber will take a 27.5% stake in grab. uber ceo will also join grab's board. >>> aaron brother stores are closing and folding into michael's. all 9s 4 framing shops including several here in the bay area will shut down by this summer. that is accord togs our media partners, the bay areath ne new group. they will repossession aaron's a store within a store as custom framing in michael's. >>> cheaters are costing the bay area millions. after the break, the transit agency's feeling the biggest pinch from dishonest commuters. >>> let's take a live look at the east bay hills right now from our camera there. and it is shaping up to be a beautiful day in the bay area, but how long will it last? we'll check in with meteorologist mike nicco next. >>> hi there. thanks for sticking around for what's shaping up to be a very dry, very warm end of month. came in like a lion, go

asia-pacific today. here is juliette saly in singapore. >> what an interesting session for asian markets.een stocks rise, the yen fall, and credit default swaps, in this chart, g #btv 5 118. down a fourth session, as we hear this news president trump will meet kim jong-un by may. south korean market, a lot of momentum coming through. the kospi up by 1%. and across the pacific asia region, stock in hong kong well bid, up by 0.9%. thosemmodity markets, trade tariffs have been sold overnight. the asx 200 in australia up by 0.4%. 0.4%. market also closed as the seen the yen drop safe haven concerns start to ease. the yen up by 0.4%. the south korean won rising another 0.6%. let's look at the impact on steel and aluminum contracts. steel is up by 3.9%. we are counting down to the reopen in hong kong in china at the top of the hour. this is bloomberg. ♪ emily: this is "bloomberg technology." i am emily chang. back to our coverage for international women's day. diane greene has been ceo of google cloud since 2015 and it is a big job. last year, alphabet's technical advisor said alphabet has inve

singapore. you are watching "bloomberg markets: asia.">> jerome powell says he needs -- he sees no signs of overheating as the labor market tightens. speaking for a second time on capitol hill, he reiterated the fed will raise rates it gradually to keep unemployment and inflation and balance. growth, comments on cause investors to speculate four rate hikes this year. up, bute it trending most continue to grow 2.5%. nothing in that suggests to me wage inflation is at a point of acceleration. i would expect continued strengthening in the labor market could take place without causing inflation. >> the u.s. ambassador to mexico is a stepping down, joining a wave of senior officials to leave the state department under the trump administration. jacobsen was a 20 year veteran, appointed by obama in 2016. she leaves amid it strain over trumps the border wall. in the state department they say morale has never been lower. some of the world's best paid lawmakers will not see a pay rise in the foreseeable future. singapore is denying a 9% raise. they