know the top-tier icbc, chinese construction bank, and petrochina.o think that will come at the othere though of companies or other countries in the indexes, like south korea for instance? >> that is an interesting question. when you think about emerging markets in other companies or other countries in the general, when we think about asia-pacific, we think about that in a larger sense. i don't know this has to be mutually exclusive. partnk the credentialing of this, we have long needed more chinese companies. we have had more south korean companies we have known about. this is more of an addition if not an addition by subtraction. i think we are in good shape there. haidi: i want to throw up a quick chart. we have which is when that crazy roller coaster ride and the selloff in mainland china, back then a-shares were trading at a higher premium than msci china. that gap has pretty much closed. does that signify to you that investors have increasing the grown more positive when it comes to corporate governance and some regulatory issues, that were cle

petrochina looking flat.seen good gains thise refiners given positive crude soil. -- story. you can catch up with those interviews by using our function, tv go. you can catch us live, do a dive into the security functions in the bloomberg. you can join us on the conversation and send us instant messages. this is for subscribers only. it is that tv . this is bloomberg. ♪ ♪ heidi: let's take a look at the markets that are in play around the region. starting off with tokyo trading. this is where we are at. not much of anything at the moment. earnings coming through throughout the course of the day. had a mixed picture when it comes to the big banks as well as names as well. that yen strength story really it prevalent theme in this early -- earnings season. after we had a close that was very close in yesterday's session to that 10 year high, we are seeing a return today. lower by a quarter of 1%. this is how we are shaping up when it comes to hong kong. slower there.nt training that is on a day where we had t

month, the three biggest additions to the emerging markets index will be china construction bank, petrochinacbc. what does that mean for these companies are included? >> the stocks are large cap. they are huge. flights ofat even these companies will be added to the msci. initially not much impact. it has been well flagged. that's what they want. that is what investors want. you don't want a big bank move where suddenly all of these shares that nobody has owned before our in all these index tracking portfolios. $2 trillion worth of index tracking money and the emerging markets index. they will own it but it won't be a huge shift from the status quo right now. ♪ >> china has dispatched a ,elegation led by president xi the vice permit for the next round of trade talks. u.s. businesses have lined up to oppose the trump policy,ration's tariff including the ceo of the world's most valuable company. in an interview for the david rubenstein show, apple ceo tim cook shared what he told president trump at the white house meeting. >> i talked about trade and the importance of a trade and how i felt tha

we have petrochina among the best gainers when it comes to chinese stocks.fter that pmi data, we saw a steady aussie. it is now under pressure. that is coming under pressure as a latest private caps indicated that aussie firms plan to spend less than expected through 2019 after a weak time. check out what is going on with the india rupee. the currency is eyeing its best winning streak since july of last year. of 1%. coming up 7/10 we are also watching the mexican earlier fell as much as .5% against the dollar after the metal tariffs report. trump is asked -- is expected to announce the soon as next week on the tariffs when it comes to metals imports ahead of the june 1 deadline. i want to highlight a couple of stock stories. to saito climbing to a new high. the recent result, shares are up over 56% year to date. a quick check on shares. electronics on the rise after losing 3.5%. this is after they sold their holdings at a discount. thank you so much for that. a mixed bag. much more winners than losers. through the lines world bank releasing its latest report

the three biggest additions to the emerging markets index will be petrochina and icbc.does it mean for these companies to be included? >> these stocks are large caps. they are huge. which means even a slice of these companies is going to be added to the indices. initially, we should not see much impact. this has been well flagged. it is not a huge move, and that is exactly what the index provider wants, what investors want. because you do not want a big bank move where shares nobody owned before are on these tracking portfolios. but it willit not be a huge shift from the status quo. >> china has dispatched a delegation to washington about trade talks. as the nations ramp up their efforts to reach a deal, u.s. businesses have lined up to oppose the trump administration's tariff policy, including the c.e.o. the world's most valuable company. on bloomberg television, apple tim cook shared what he told president trump at their white house meeting. tim: i talked about trade and the importance of trade and how i felt that two countries trading together make the pie larger. an

the three largest additions to the msci emerging market index will be china construction bank, petrochinad --. the new additions begin with a very low --. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. ♪ this is bloomberg. guy: thank you very much indeed. we are just getting numbers fromg in from zoo hope -- mizuho. credit agricole trading revenues slumping in the first quarter of the year. the company says it is well on track to reach its 2019 targets. joining us now from verse for an exclusive interview is xanier musca, credit agricole's musca, creditvier agricole's deputy ceo. can you walk us through what happened? >> and is very difficult to understand -- it is very difficult to understand. obviously there has been an evolution of -- rates, which work unfavorable -- which were unfavorable. the dollar went down in the first order of 2018 compared with the -- first quarter of 2018 compared with the first quarter of 2017. activity has been quite sluggish during the first quarter of 2010. we are not doing -- 2018. we are not doin

like petrochina stand big.ceive those stocks are sliding this morning.that gele could raise his information in the second half of the year. geely product pricing will not affected by china's tariff cuts on imported cars. geely is wider view, stock up over 85% over the past heidi. haidi: thank you for that. let's get you caught up to date. allen in sydney. >> president trump seems to have confirmed the historic summit is back on g-un tweeting that the u.s. team is n north korea to make arrangements. his comments came after kim met south korea leader for the econd time in a movement they held talks on the north korean sign of the demarcation line at panmunjom and to push ahead with commitments. rubio says a potential bill to ban zte and other chinese u.s. m companies from the would have widespread support in congress. e says most lawmakers understand the threat posed by china and its growing commitment to do something about it. rubio was responding to president trump's proposal to let zte remain in business after a $1.3 billion fine. says japan must be pat

petrochina very much seen as a winner in a plan by china to revamp its gas prices. they are going to start charging residents the same as they charge the commercial businesses. kongchina up 4% in hong despite a downturn in energy stocks elsewhere. a lot of the south korean stocks that do business with north korea looking very well today. we are seeing some weakness coming through from the carmakers in tokyo. manus? manus: ok, thank you very much. breaking headlines coming through from swiss rate. softbank and swiss rate have been trying to do a deal. it looks as if that is off. the talks have ended. this started off at the start of the year as some sort of big deal. we heard just a couple months ago that it was going to be no more than -- less than 10%. juncture, swiss terminatedbank have their discussions in switzerland. we are going to see how that stock opens later on this morning. potential minority stake, that is the end of that. the question is what happens next for swiss re. softbank wanted to replicate the kind of moves you saw from warren buffett. in the ri

the three largest additions to the emerging markets index will , china construction bank, and petrochinaions inspected -- expected to channel has a funds and the world's second-biggest equity market. the new edition begins with very low weighting. commerce secretary wilbur ross has again attacked china. it's a member of the world trade organization in name only. the joy -- and they enjoy the benefits but do not abide by the rules. he spoke including the treatment of phone makers. he says the u.s. has suffered from its free market stance. >> the u.s. is the most open and the most exploited market in the world. both china and europe eloquently espouse free-trade rhetoric. but in actual practice, we are far more protectionist than the united states. >> they miss the may 17 deadline. the latest marker working the deal. we are told the three top negotiators are not scheduled to meet in person this week despite holding bilateral talks in recent days. sources say they may hold a conference call to assess the size of the toxin whether the high level is later this week. as saudi arabia opec the o

interestingly, chinese companies have already exceeded that petrochina has hit over a trillion dollars and what a turnaround we have seen with concerns about the iphone x and the earnings came out and surprised everybody to the upside. seenfrom what we have could lead to the $1 trillion landmark. people say given to the momentum we could sit by the end of the week. betty: possibly. just weeks agoe, we were talking about this tech route and whether or not for the fang's it will be over with, but apple is coming right back. yvonne: and to give you context, what trillion dollar market cap is greater than the gdp of netherlands or malaysia. it is going to be a big piece of the pie in the future. that is all we can talk about in terms of tech, but here is what is coming up the next few hours. jamie dimon is coming up. now, and you from guys have had several guests already. is on the ground and conducting the interview and a lot to talk about with him. you do not want to miss that chat, and a lot happening in the markets. tell why and what we are awaiting as far as triggers are concerned. --

they will be icbc, china construction bank, and petrochina.ked -- expected to fundsl $17 billion in into that equity market. undergoneump has successful surgery to treat a kidney condition and is expected to remain in the hospital for the duration of the week. she had an "embolization" procedure to treat a benign kidney condition. no other details were given. global news 24 hours a day on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i am kailey leinz. this is bloomberg. francine: we are just getting some employment figures out of the u.k. this is for january to march, so it is backward looking, but the unemployment rate stays at 4.2%, basic wage growth at 2.9%. little movement on pound currently. trump has defended hits move to help dte, drawing criticism from both sides of the house amid concerns it could jeopardize national security. he said the equipment maker buys a big percentage of individual parts from u.s. companies and the decision is reflective of the larger trade deal he

let's check in on chinese gas players. .omorrah initiating coverage the target was also raised for petrochina. these stocks are under pressure this morning. on ali health, looking to buy assets from alibaba for 26 billion hong kong dollars. the assets include products sold on tmall.com. the yen risen to a three-week 108.92. let's get you to first word news with paul allen. nicknamed mr.mist scissors for his financial rigor has been the latest task to four and eight -- has been the latest asked to form a government and italy. however, his nomination as opposed by the antiestablishment five-star movement whose leader is demanding a new election as soon as august. >> [speaking foreign language] translator: the italian economy is still growing and public finances remain under control. i can ensure you -- i can assure you that a government guided by myself would maintain caution in the handling of public finances. paul: ivanka trump's friend has three new trademarks in china in recent months, raising questions about conflict of interest. the government has also granted a provisional approval for a

added to its equity indices industrial and commercial bank of china, china construction bank and petrochina will be included that inclusion is it likely to increase participation of foreign institutional investors. >> you know where i saw that i knew it was svu. you know where i saw some "law and order: svu in davos what else would you do in davos. >> that's the only thing in english. >> you go all the way to davos, switzerland, you're watching tv? you don't look at the beautiful alps >> i don't like caviar i'm not with andrew, hobnobbing with the elitists. >> davos man >> i'm in that 8x10 cell with the crappy tv. >> you can stream anything you want on your phone >> i heard that. i should have done that. >> i have to say, i've been going for a dozen years, i don't think i ever watched television there. >> no. >> i would think onewould not have time. >> and you have caviar every year >> and some champagne. >> i know. you are dare davos man. >> you just helped his case. >> i know. i thought it would be funny at my own expense >>> the driver of a tesla model s that rear-ended a fire truck over