annabelle: ok.re there any concerns that plenty electric -- hyundai electric, any concerns they could get swept up in the sanctions risk? >> i [indiscernible] the most clear reason is with ai demand is exhilarating massively. you still have six months to a year lead time to sit the products but now lead time extended to three or four years. some customer we even heard they are willing to pay 50% of the payment just to get that [indiscernible] to ship two or three years after so customer need it but keep policy for every government and corporate right now is pieces people wanted [indiscernible] annabelle: -- haidi: you worked in china for manufacturing. does not experience and insight make you more interested in the opportunities on the china side of the tech divergent and chip were? >> yes because if you look global -- look globe, not only u.s. developing ai. so i think whose supplier whose focus on the space will benefit. everyone will benefit. the most important is this is not actually not new tec

that could set up a trend, annabelle. if you look at two names, meta and microsoft, they are trading above $500, so you do broaden the investor base. they already have quite strong retail participation in the u.s. market and it could even broaden that further. so i think that would be a shorter-term benefit to kind of broaden that momentum absolutely. haidi: great to chat with you, nick schoenmaker of drumming capital in sydney. still ahead, oil traders looking for this weekends opec-plus meeting. it is expected to extend those production cuts. we get more details on china's biggest ever chip development fund. this is the big fund iii, the latest salvo in the battle with the u.s. for global tech supremacy. this is bloomberg. ♪ do you want to close out? should i? normally i'd hold. but... taking the gains is smart here, right? feel more confident with stock ratings from j.p. morgan analysts in the chase app. when you've got a decision to make... the answer is j.p. morgan wealth management. at cdw, we get the importance of

annabelle: that is lloyd moffat.reaching out to livestock communities for the response on the short. there are six buys and three holds. we are down nearly 30% for the company. more ahead on "daybreak: australia." this is bloomberg. ♪ the future is not just going to happen. you have to make it. and if you want a successful business, all it takes is an idea, and now becomes the future where you grew a dream into a reality. the all new godaddy airo. put your business online in minutes with the power of ai. haidi: taking a look at the end, we had cpi numbers coming in more and less with -- more or less in line with expectations but the broader trend seems to be calling. it's above the price target, really feeling concerns the element of cost pushing inflationary pressures may be here to say food prices with fusion -- if you strip out fresh food rose above the 2% inflation target. this is bloomberg. ♪ people couldn't see my potential. so i had to show them. i've run this place for 20 years, but i still need to prove that

annabelle: that was michael heath.ou can get a round of the stories you need to know to get your day going in today's edition of daybreak. today it is about those stories we were just discussing, chinese trade practices, also the trilateral between china, south korea, and japan. it is available on dayb and on mobile in the below burger -- on the bloomberg anywhere app. this is bloomberg. ♪ [introspective music] recipes. recipes written by hand and lost to time. are now being analyzed and restored using the power of dell ai. ♪ annabelle: some stories were attracting, or this morning, the u.s. department of agriculture has banned imports of some poultry products from australia after an outbreak of avian few. restrictions will come -- cover both birds and eggs. it only applies to products from victoria where around 400,000 chickens were reportedly -- were recalled last week. bad weather hitting the philippines as the country's first storm of the year intensifies. officials warned it could strengthen into a typhoon be

annabelle: that was garfield rentals. you can follow all of our stories on the bloomberg at ny . there is commentary and analysis from bloomberg's expert editor so you can find out what is affecting your investments right now. this is bloomberg. ♪ haidi: israel is rejecting a cease-fire plan back by hamas saying its operations in rafah will continue. this was a unanimous rejection, and at the same time we see the strikes intensifying. >> when we look into the details, there are a of things. it's not exactly what was proposed or what israel had agreed to in the first place. as i understand it, couple of reports are showing that must had changed it to bodies or live hostages, not just live hostages, and pushing for the end of the war is unacceptable. israelis began sending messages to begin moving inrafah. is not the whole city, there's an area they started trying to ship people out of what it look like the beginning of cooperation. our reporting shows israeli officials estimate it will take a few weeks at least to remo

. >> i'm annabelle droulers. traders weighing mixed economic data and hawkish leaning fed commentary for clues on the rate outlook. wall street's returns dominated by selloff in bonds. haidi: economists expecting cpi to take lower while still facing pressure. haidi: toyota shareholders urged to revolt over the company's plan to reelect the chairman of toyota. haidi: a lot to contend with particularly in australia as we look ahead to cpi numbers. pressure when it comes to the rba. a look towards the possibility of easing sooner rather than later. we have expectations when it comes to retail as well as consumer sentiment, looking softer as well. when it comes to how we are setting up for the inflation data in sydney, down by 6/10 of 1%. big drop in treasuries that mostly dominated the u.s. session. u.s. markets and investors came back after the memorial day long weekend. kiwi stocks holding steady, 1/10 of 1% higher ahead of the announcement of the new government budget. the finance minister will be delivering the

annabelle: that was denise wee there.inging you some news crossing the terminal. the entertainment company hybe in seoul reported its numbers. a miss on estimates for operating profits. that came in at 14.4 billion won, down more than 17%. the estimate had been for 24.2 billion won, so quite a significant miss on expectations. sales, likewise we saw them at -- the estimate had been for over 412. a big gap between what analysts were predicting versus the numbers that came through. net basis 10.8 billion won, the estimate nearly 20 billion won. stilll, hybe is managing to stay positive as we head through the morning session. tune in to bloomberg radio to hear more from the day's big newsmakers and get in-depth analysis from the dave brat team -- daybreak team. you can listen via the app, radio plus, or on bloomberg radio.com. we have more ahead. stay with us. ♪ when you automate sales tax with avalara, you don't have to worry about things like changing tax rates or filing returns. avalarahhh ahhh haidi: china's top climate

annabelle: we are counting down to asia's major market opens. it is a resumption of trade for japan and korea that have been shut for extended breaks. and what the market will be coming back into as you have u.s. stocks notching their best three-day rally going back to november of last year. haidi: we are expecting a big jump potentially to around 2% when it comes to japan markets. also seeing upside indicated for australia. it is rba decision day. expected to keep rates at the 12 year high. watching out for perhaps some hawkish messaging as market expectations build of higher for longer and maybe even more tightening back on the table. annabelle: certainly something to be tracking later this morning. we just got the open of japanese equities coming online. it is that big earnings theme coming in across the course of this week. earnings that are due from toyota, tokyo electron. these are the biggest and the fourth largest companies including topix waiting. definitely going to tell us how much companies are benefiting as well from those twin narr

annabelle:. annabelle: that was our equity capital markets reporter filipe pacheco there.k: asia." our better markets cup continues as we continue to the start of trading in shanghai, hong kong and shenzhen next. this is bloomberg. ♪ ♪♪ ♪♪ ♪♪ ♪♪ sandals jamaica sale is now on! with rates from $199 per person per night. visit sandals.com or call 1-800-sandals >> private equity firms, the good ones make the public markets. we are in the business of turning great innovators integrate businesses. there is one component of our industry that people need

annabelle: i'm annabelle droulers in hong kong. the top stories is our, positive move as the u.s. inflation gauge slowdown reinforces fed cuts as early as september. wall street stocks closing at fresh record highs while bond yields retreat. japan's megabanks forecasting record net income as the boj moves away from negative rates, seeing a combined windfall of $21 billion. and china tech earnings on the way. we'll bring you jd.com and baidu results. haidi: take a look at how we are setting up in asia, set to rally after u.s. stocks and bonds climbed on indications of slowly but surely slowing inflation data from that cpi print. the takeaway was that potentially provides affair with a little more room to start easing sooner, even as we've heard from jay powell that in the face of lacking evidence of disinflation or pressures that we may be staying higher for longer. it's a pretty robust set up, sidney futures up about .6%. a pop when it comes to trading in new zealand, nikkei futures looking perky there as well. fresh highs for each benchmark there as well. watching hong kong as a

annabelle: that was richard kaye. the market leadership was being driven in china, and that is the tech space predicated on the moves we have had a big tech, and alibaba, tencent among those, so they will be reporting the results on tuesday. let's get up review from our tech reporter. let's just start with alibaba. what are we expecting, and probably a particular focus on the ai front as well. >> we have not had alibaba and tencent reporting on the same day for years, so it will be exciting. it investors will be comparing the results side-by-side. it is a barometer for the chinese economy, which is not doing so great. for alibaba, at the bottom line is there e-commerce, and on top of that ai. it made its ai language model open source, meaning more developers will be using their services, and it is a strategy mirroring microsoft. in alibaba's case, commerce will give us a sense of where chinese consumers are spending and on the cloud side we will see if it can compete against other makers like tencent and baidu. haidi:

annabelle: i'm annabelle droulers. positive lead in with the 24th record high of the year, investors race for a spike in volatility. haidi: bond traders are trimming their bets. chris waller needs months of disinflationary data. annabelle: holding a key rate with currency markets watching for signs of easing ahead of australia's central bank. haidi: that is the decision, markets online. futures in sydney with an upside, watching names including rio tinto including commodities. aluminum is the one to watch. a 23 month high. kiwi stocks are up as we get ready for the rate decision. the aussie dollar is looking for leeway overtrading in the key will -- kiwi. in particular as we get the two-year inflation expectation holding steady. we've had the shadow board recommending that the ocr have no cuts until 2025. that is overshadowing the meeting. nikkei futures showing optimism in china futures softer. i wonder if concerns over property have been enough. we have one top fund that prefers kiwi bonds depending on what we get, l

annabelle: that's right. the jobs numbers will definitely give us clues on the direction of rates in the months to come. we have futures coming online, but the jobs report friday, we are forecasting a gain around 240 thousand nonfarm payrolls being added. that would be, though, the slowest pace we have seen going back to november last year. you are seeing a bit of positivity on the screen, and that bit of a run-up we have into the report coming out, the dollar as well you can see dropping the most since 2024. what else we are tracking in the session is the moves we've got in tech stocks. in particular, you can see the nasdaq is pushing a little bit higher. we did have that rally in tech extending in late hours. it was that big focus on apple numbers that came out. it has been a very mixed sort of tech report. we have had a lot of optimism coming into names like microsoft and alphabet, for instance, that have impressed investors that they are in particular was adding to their bottom line. other ones, though, h

annabelle: turning to the latest in attack.m's listed shares closing higher and better than anticipated. sales rose dust above the average analyst estimates. jd slashed prices and ramped up -- to boost we consumer sentiment in china. baidu's went higher after revenue grew at the slowest pace in over a year. net income coming in stronger than projected thanks to cost-cutting. the results suggest baidu is still struggling to translate its advantage in generative ai into real revenue. investors are warning that tsmc's stock surge they hit a regulatory roadblock. funds governed by restrictions on single starts cannot add more tsmc equity and the even have to sell after the outside gains. bnp paribas says european regulations which kept single -- to 10%. sources say software makers snowflake is in talks to acquire reka ai. tech giants are been rushing to acquire startups working in that field. that's got more on the outlook for ai with our next guest joining us from tokyo. crawford del prete, the president of idc. you are in japan s

annabelle: finish your thought. julia: of course. as we think about the underlying economy and the policy outlook, this has not really changed. we think the market rally has been very strong. over 20%. and by going forward you have uncertainties on the horizon as well, be a geopolitical, housing constraints. these are the reasons technically we would prefer to take some profit at this point. haidi: i was going to ask you, what is your strategy cross credit right now? julia: we are still quite up in quality overall in credit. obviously higher market has had greater returns this year. we continue to think the overall macro backdrop for the global economy is one of slowing. we are seeing contradictory data here and there but rates are restricted. we are seeing the survey sector slowing from the u.s. as well as a eurozone i think global demand in slowing against that backdrop, we do think the credit cycle will start to have more stress. so we prefer to lean up in quality still in credit. haidi: julia wang, global market strategist at j.p

annabelle: exactly.hen: china is an indispensable ally for vladimir putin in moscow as the warheads into its third year. no doubt you need friends, finances and firepower, but i'm not saying china is supporting that or supplying the weapons needed on the battlefield, but there have been dual use technologies found on the battlefield in ukraine that have come from china. i'm talking semiconductors, dual use technologies, ball bearings -- anybody who knows anything about war, they need ball bearings for their machinery and the like, and other equipments and electronics. he arrived at 4:00 a.m. the guy gets up earlier than we do incorporate television. so he will have meetings with his no limits friendship, his friend xi jinping, before heading off to the eighth annual russian-chinese expo. that is more symbolic. he is there to shore up support. he is bringing his new defense chief, an economist by trade, and he is also replacing his central bank governors. annabelle: i mean, he is bringing the brass, the n

annabelle: absolutely. as you said, we are very -- [laughs] -- excited about the results from nvidia after the bell today. and i the backdrop of the central banks and economy that you are tracking as well. haidi: and that is the thing, right, with this out of the way, we go back to basics, the bread and butter, focusing on what the central banks are saying. the fed minutes bringing some of the air out of the recent rally we have seen in the u.s., higher-for-longer has been the narrative from central banks there as well. new zealand yesterday. the bank of korea today. take a look at some of the data processing, gdp numbers from singapore. the 2025 growth estimates being maintained between 1% and 3% permit first quarter gdp rising hotter than expectations. the final first-quarter gdp on a quarter or quarter basis seeing a rise of 0.1%. the estimate was for a small degree of contraction, 0.3%. so a bit better-than-expected numbers. as we get the cash trading session underway. that's right, markets are just com

annabelle: what about equities?e really saw chip stocks sliding down, what sort of dynamic is important, is an earnings were the direction of fed policy? -- is it earnings or is it the direction of? fed policy? >> a bit of a rally, unraveled by the end of the day. the impact on equities at least seems to be pretty fleeting and that is because people are really delving into the earnings which have been quite mixed and some big positives and negatives and the market has been punishing the underperformers and qualcomm was a good one, after hours, a couple of the other digital names got hammered pretty badly as well, there is still the kind of sifting through everything to figure it out and it feels a bit more beneficial for stock pickers when you think about it that way and i think overall, as long as the economy is strong and the fed puts it is still cutting, not hiking, the market thinks that is good enough. equities, earnings, they may turn back to the data and fed policy and think everything is still looking pretty

annabelle: that decision over one hour in time away.g what is happening in the crypto space, take a look the big run-up in ether in the last one he for hours. -- the last 24 hours. off the back, you have that subsequent run-up in the token. this is bloomberg. ♪ with stock ratings from j.p. morgan analysts in the chase app. when you've got a decision to make... the answer is j.p. morgan wealth management. (♪♪) the road to opportunity. is often the road overlooked. (♪♪) at enterprise mobility, we guide companies to unique solutions, from our team of mobility experts. because we believe the more ways we all have to move forward. the further we'll all go. just stop calling each other rock stars. and using workday to put finance and h.r. on one platform. tim, you are a rock star. using responsible ai doesn't make you a rock star. it kinda does. you are not rock stars. (clears throat) okay. most of you are not rock stars. oooh. data driven insights, and large language models. oh, that's so rock roll. it is, right. he gets it. yeah. and they'r

annabelle: yeah. we mentioned going into the last hour, producer prices came out and pretty much in line with estimates. in line on the month on month basis. earnings are one to watch and softbank is trading after getting more aggressive big asset sales for the company and surge in portfolio companies including arm holdings. south think putting out better than expected net income, helped by investment gains and derivative contracts. that is the state of play. optimism creeping through, heavy earnings flow. korean stocks not seeing much movement the kospi is smaller. you've got the korean currency firm, a big countdown to u.s. inflation is due later so wall street is quiet. haidi: how we are setting up as we look ahead to the australian budget, a sluggish start and caution as we await the inflation prints. jim charmer's will announce that their back in the black. australia's fiscal standing is near the top of developed world so we will see how they are planning to address cost-of-living with this serie

annabelle: absolutely.ery -- [laughs] -- excited about the results from nvidia after the bell today. and i the backdrop of the central banks and economy that you are tracking as well. haidi: and that is the thing, right, with this out of the way, we go back to basics,

annabelle: that's right. also recapping the bigger movers , bigger earnings that came out yesterday. one of the names we are tracking in tokyo today is nissan, with a strong output for them. the weaker yen playing into that. and we heard from government officials in japan, suzuki saying that thet are aiming for wage growth. it was in contraction territory for the 24th straight month. this week it has been the continued slippage in the japanese yen now trading, above the 155 mark. the question of how long if we did indeed see intervention twice last week -- which does appear to be the case -- how long that will last in the market. today we have the nikkei 225 coming on to the upside. wall street overnight had signals of positivity. we had weaker than expected initial jobless claims. it really backs the case that the fed can cut rates later this year. nikkei up zero .4%. let's look at how the korea -- how korea is sharing a bank. the korean won looking for more against the dollar -- how korea is [crowd cheering

annabelle droulers is with our first guest. annabelle: thanks.ders of databricks, arsalan tavakoli-shiraji, thousands of customers around the world. give us an example of one in particular, and also how the company works in practice? guest: for example, at. everyone knows the company, as photoshop. now they have creative professionals trying to drive insights. they want to know what our customers are doing and how we give them that her capabilities and help them reach their customers, tons of data they have to bring together and then figure out how to use different things from regular analytics to the latest machine learning insights. it's a lot of stuff to get together. databricks says we can do that for you and to end and unlock a set of capabilities you didn't have before cheaper and faster than he ever did. we have more than 10,000 customers globally who are doing that. annabelle: you have been around more than 10 years now, since 2013. how do you think the introduction of tools like chatgpt has changed your business? is there a greater aware

. >> i'm annabelle droulers in hong kong.t the top stories is our, a low open with the fed walking a tight rope ahead of cpi. investors awaiting economic data from china and japan. heidi: inflation returning to target by year end. an interview with jim chanos in a minute. annabelle: president biden quadrupling tariffs as a pre-election defense of u.s. workers. haidi: take a look at how we are setting up. futures on the back foot. a sx 200, third week of gains following the games of the past few sessions with the data supporting the goldilocks scenario. sluggish set up after a disappointing china data, heavy weight when it comes to the factors we look out for. chicago nikkei futures are flat. china futures not moving much, but we got signs of slowing economy and credit data signals continuing weak demand. industrial price extending the klein. front and center is the credit shrinking for the first time since april as we see demand week in china. annabelle: a big question given we've had data points coming out of the country. as

annabelle: roger, always great to have you with. shanahan, independent middle east analyst, joining us. a loft this expected to continue weighing across the comodcy tyes space. we had a bit of a shrug when it comes to impact on the crude markets. that dip in the early part of the week being sustained as we see new york crude still under $80 a barrelthere really this range bound situation continuing to show that traders are look ahead more to the opec plus meeting in early june for supply policy even though we're expect a rollover of the existing limits. we're getting close to the $120 level there, even though some chinese markets were deemed disappoint big investor they did create more demand, suggesting we could see the housing glut key see some improvement. we're watching copper continue this rally, just under the $11,000 level there, which is a sort of record high but it's continuing to pile up in bits on the prospect of supply shortfalls. more ahead on "daybreak: australia," this is bloomberg when you automate sales tax with ava

annabelle: which market is looking most attractive?e are seeing a lot of investors shifting into china. do you prefer other markets? >> china is showing signs of stabilization. that's for a catalyst to release savings and boost a mystic demand. there is focus on subsidies because the government is driving growth and cannot rely on trade when it comes to the growth outlook. china shows some promise. very low, tactical opportunities come through their but it is too early to be positive on china until we see the release of demand in china. other markets, japan is one that has continued to form. earnings growth and a focus on what we are seeing in korea and taiwan given the supply chain's, chips and semi conductors. global growth is looking better. annabelle: you're thinking that they're going to cut rates in september, is that right and if so, how do you see that asia because some are saying asia could outperform when the fed reduces. kerry: we're definitely looking at inflation outlook, inflation trend heading lower for us means the fed

annabelle: that was sue lee from citi. have live coverage from that citi investor conference 2024 taking place in singapore. we are going to be speaking to the head of emerging market economics about the impact of the fed's higher for longer policy on asia markets at 11:00 a.m. if you're watching from hong kong or singapore. we will have more ahead. this is bloomberg. ♪ i can't believe you corporate types are still at it. just stop calling each other rock stars. and using workday to put finance and h.r. on one platform. tim, you are a rock star. using responsible ai doesn't make you a rock star. it kinda does. you are not rock stars. (clears throat) okay. most of you are not rock stars. oooh. data driven insights, and large language models. oh, that's so rock roll. it is, right. he gets it. yeah. annabelle: taking a look at shares of bhp this morning, fairly steady so far but certainly was something that could be moving as we just count down to the very ambitious takeover plan from bhp that is a $49 billion proposed deal f

annabelle: this is "bloomberg daybreak: asia." the really big event this hour will be the boj governor ueda speaking at a conference, and i was looking at the theme of that. it is old and new challenges for monetary policy, but certainly that boj seems to be confronting both of those. haidi: that is pretty apt given the nature of the challenges that face the bank of japan as it looks into this beyond actually having interest rates beyond negative territory, so interesting conversation as we have seen a degree of patience or comfort in terms of where japanese bond yields are traveling as well as weakness we have seen in the economy as well. annabelle: that is right, and lots to be discussed in terms of market action in japan in particular, jgb 10-year yield sitting at a high, interesting to monitor given changing expectations. traders agitating for the boj to shift its policy settings higher. that is playing into yen dynamics and we have seen that sensitive to the yield gap between the boj and the fed, fairly steady but tracking ar

annabelle: yes, certainly a big day for china investors. far in the session, downside pressure, through. i just had to look at the trading volumes and we are thinner than we would typically be at this point in the session, but pretty much every sector right now is in the red given concern resurfacing around the outlook for inflation. not just the china story today for markets. that is it for "daybreak: asia." coverage continues as we look ahead to the start of trade in hong kong, shanghai and shenzhen. ♪ do you want to close out? should i? normally i'd hold. but... taking the gains is smart here, right? feel more confident with stock ratings from j.p. morgan analysts in the chase app. when you've got a decision to make... the answer is j.p. morgan wealth management. clogged gutters can cause big problems fast. until now. call 833-leaffilter today for your free gutter inspection. i've had terrible flooding problems on my porch. now i understand why. right now leaffilter is offering a free inspection, on your schedule. leaffilter is a permane

annabelle: i am annabelle droulers in hong kong. in the top stories this hour, asian stocks primed for gains after an upbeat day on wall street was job data supporting the case for fed rate cuts this year. around 600 japanese companies as well report earnings later today. haidi: president xi pledging fresh investment in hungary as he receives backing for beijing's pushback against overcapacity claims. annabelle: we are to the bloomberg tech summit as silicon valley leaders talk ai and much more. we will hear this out from snap ceo. kicking off with breaking news this morning, we have peru's central bank making its rate decision as forecast by most economists. we are seeing that cut coming through to 5.75% earlier at 6%. we did action have a decline last month in consumer prices that sort of green lit what has been a second-quarter point reduction here but inflation last month slowing to 2.42% in line with the central banks targets and actually toward the end of the year, it's going to rise or climb down to around 2%. of course, peru

interesting, annabel, view from the uk? _ guilty. interesting, annabel, view from the uk?k i think it - guilty. interesting, annabel, view from the uk? greek i think it is i from the uk? greek i think it is quite extraordinary as a brit to see the politicisation ofjudges in action as we have with donald trump but what we have seen creeping and perhaps _ but what we have seen creeping and perhaps in— but what we have seen creeping and perhaps in the — but what we have seen creeping and perhaps in the uk_ but what we have seen creeping and perhaps in the uk recently- but what we have seen creeping and perhaps in the uk recently with - perhaps in the uk recently with nicola — perhaps in the uk recently with nicola sturgeon— perhaps in the uk recently with nicola sturgeon and _ perhaps in the uk recently with nicola sturgeon and angela - perhaps in the uk recently with - nicola sturgeon and angela rayner, it is not— nicola sturgeon and angela rayner, it is not the — nicola sturgeon and angela rayner, it is not the same _ nicola sturgeon and angela rayner, it is not the same ex

annabelle: i am annabelle droulers in hong kong and the top stories this hour. stocks set for a positive start. investors hoping mainland markets follow the bullish lead when they reopen after a holiday. the yen vulnerable to any hawkish fed commentary this week. haidi: westpac's first-half profits slide in line with analyst estimates as it boosts a buyback by a one billion aussie dollars. annabelle: the chinese president touches down in paris to begin a three nation european tour with trade tensions on the rise. haidi: let's get you straight to how we are setting up when it comes to the start of trading in asia. this monday morning, we are looking like a pretty positive lead, china coming back online, to see where chinese equities will be gearing up to bridge the gap with hong kong counterparts. the hang seng jumping on friday, the longest winning streak since 2018. before we get to the china open, we are seeing quite a bit of upside when it comes to futures. we are one hour away from the start of trading there and we did have of course a softer than expected u

let's bring in annabel who's in singapore for us. we almost forgot you, our copilot, as we were approaching the runway about to take off. but let me bring you into help steer the ship. annabelle: thanks for finding me several minutes into the program today. we were talking about markets and we heard from kashkari. but it's worth pointing out when it comes to kashkari is the most notable hawk on the fomc. perhaps those comments around rate cuts are rate hikes are on the table. still, it's the broader flavor we have seen come across markets that impact higher for longer fed policies. let's get more on that and bring in the head of emerging-market economics citigroup global markets who joins us today from singapore, at the sidelines of the city macro pan asia investment conflicts. there's a lot of different ways to slice and dice the impact of the fed saying higher for longer but what are the ways you are looking at it? quick sitting here in asia, the higher for longer fed is pretty much top of mine in a lot of investors and it's partic

annabelle: i'm annabelle droulers in hong kong. stock investors playing it safe with age and futures mixed and wall street flats. 10-year treasury yield's falling for the first time in six sessions. an auction draws tepid demand. >> arm shares tumbling out a lukewarm revenue forecast raising concerns of the tech industry ai spending three -- spree slowing. >> xi jinping lands in hungary counting ties to eastern europe as a boon for the chinese economy. shery: breaking news for the account balance for south korea. the trade surplus number for march widening to just under $8.1 billion u.s.. we are seeing the current account surplus also there widening to $6.931 billion as well. we have seen quite a big move over the past few months when it comes to the you want. -- yuan. we are seeing a bit of an increase when it comes to net exports of goods. we have seen a decline in manufacturing services, transport, and travel and a bit of upside for construction and building as well as investment income, particularly when it comes to the contrib

annabelle, they want to talk about. annabelle, the floor is yours.— the floor is yours.this week, data, - the floor is yours. thank you there is a story this week, data, office l is a story this week, data, office of national statistics which revealed that a third of men under the age of 35 are still living with their parents the uk. and it found that women are more likely to flight the nest, more likely to do so in their 20s that it is men who are living in theirfamily their 20s that it is men who are living in their family homes for much longer than you would expect. i was sad to discover it was a third of young man who are doing so. there are various strands to this. of course the democratic crisis in the uk as indeed there are many countries across the west was that i suspect that men living with their parents until 35 might be playing a role in that. at the same time as a parent myself, i would be slightly horrified if any of my children were still living with me at the age of 35. whaen expects 11 becomes apparent that at the age of 18 they will move out, go to univ

. >> i'm annabelle droulers. ahead of u.s.nflation data a big tech rally within a whisker of big tech rallies. heidi: tariffs on imports after president biden accuses china of treating on -- cheating on trade. paul: i'm paul allen words the government handed down a budget that is handing down cost-of-living relief. >> i'm avril reporting live as the countries leader prepares to take power. unprecedented challenges facing the new prime minister. annabelle: counting down across asia. u.s. futures are steady in the context of a run of in the prior session. a new fresh record high, tesla and nvidia and optimism around stocks. game stock was up 60%. adding to gains. a few points to know, producer inflation data topping forecasts. beneath the surface there were details that offered relief and we can get more details in a moment. hearing from jay powell. heidi: big focus, the number caused a reversal, maybe the data is softening because inflation is very sticky. we are watching what the number has to hold. futures looking like a move

annabelle: that was our lyrical news director jodi schneider. let's shift to any possible market implications. let's bring in our executive editor for asian markets. we've been speaking about this already, usually markets to now to what is going on in washington. is this the case here or does it inject a possible volatility over the next few months? paul: it is something that we have to pay attention to. i think at a micro level, stocks related to trump, his media did take a knock and after hours trading. for the broader market, we might look at the mexican peso, a good grommet or a future election risk and it did not move much. the commentary we've gotten from market waters seems to be so far it is a long way ahead still. we get closer, maybe the considerations jodi was talking about will come closer and play on the minds, and when we get a sentencing maybe people might get a better view of what it will mean for markets. right now, just keep watching the headlines. haidi: meantime, still down to u.s. eco-data, inflation expectations, what we ar

annabelle: that was hideyuki sano there.cking with the weaker yen theme and the impact on earnings, nintendo is another company that says it will soon announce its successor to a seven-year-old switch gaming console after forecasting a bigger than expected profit decline. their president posted on x to say an announcement on the next hardware platform will be made in the coming year. that came after a warning that operating income will fall 24% in the current fiscal year. while disney shares tumbled the most in 18 months after a tepid outlook for growth in streaming subscribers. it also said theme park visits are expected to moderate from peak post-covid levels. disney+ announced more than 6 million subscribers in the second quarter but sees no core growth of this period, with profitability hit by expenses for cricket rights in india. >> we are looking at asia representing growth opportunities both in terms of the streaming service in select markets as well as the parks and cruisers business. we do see good growth opportunit

annabelle: always was great to chat with you.anaging director of research and investments and advisory at k2 asset management joining us out of melbourne today. more to come on bloomberg australia. this is bloomberg. ♪ at morgan stanley, old school hard work meets bold new thinking. (laughter) at 88 years old, we still see the world with the wonder of new eyes, helping you discover untapped possibilities and relentlessly working with you to make them real. old school grit. new world ideas. morgan stanley. ♪ >> talks between the u.s. and china are set to take center stage in singapore. military chiefs in both countries are expected to have their first in person meeting since beijing named a new defense minister year ago. our bloomberg markets asia anchor husband amen joins us now. -- haslinda ahmin joins us now. haslinda: well, defense chief are looking more than a handshake. we know that these are really volatile times, tensions are escalating around the world, we have the south china sea, the ukraine war into its third year, and

annabelle: and the moves that we are seeing so far in u.s. stocks over the course of this year, given the race environment we are expecting, where do you see the expectations heading into the second half at this point? kieran: we think the second half will be a strong period of earnings momentum. four months ago we would have said that would be coupled with the beginning of rate cuts. we also know that this has been pushed back at least until the end of the year. if you consider that the biggest mistake that the fed could make would be to start to cut too early and see a resurgence of inflation. the latest inflation print have obviously proven that inflation is sticky. against the u.s. economy, which is doing pretty well. so we think the net effect of that will be pretty good earnings growth momentum in the second half of the year and that is why we will be looking to increase allocation to equities, especially growth. and that takes us to tech obviously, in the current period. haidi: would you also be looking at more international allocation

annabelle: thank you, peter. we are 10 minutes into the session. we are looking at the drop for high but the open here sm entertainment has initiated the share of trade selling at a discount so that is reflected in the move you see right now and we are tracking sanko developing a drug in partnership with astro and it has extended the lives of some lung cancer patients on that stock little changed at this point in time and chip stocks not just for the big fund investment that china has made and we do see some chinese chipmakers making but we see macron is building a new plant according to local media in russia and next we will go to the ubs asian investment conference in hong kong and we will speak with the banks asia-pacific president and will be joined by the ceo of india's national stock exchange. much more ahead. this is bloomberg. ♪ so, what are you thinking? i'm thinking... (speaking to self) about our honeymoon. what about africa? safari? hot air balloon ride? swim with elephants? wait, can we afford a safari? great question. like everything,

annabelle: what about alibaba? has been a focus on these different units and potential spinoff plans. what is the biggest risk the you think going forward? catherine: we have put aside all of that restructuring and they are now going heads on into all the different businesses by them valves. they are going to be investing into revitalizing the topline growth for their commerce businesses in the cloud businesses. that is going to take a lot of expenditures and investments. we have seen that hitting the bottom line of adjusted ebitda of the companies. and i think you might actually see the profit decline widening over the next three quarters. haidi: catherine lim in hong kong. let's look at some corporate headlines we are following. byd has debuted his first plug-in hybrid pickup truck in mexico. they say it will be available globally priced around $53,000. it comes as president biden announced 100% tariffs on chinese ev's, but byd does not plan to sell it in the u.s. they reported first-quarter earnings that beat an

annabelle: very timely given xi jinping's on a trip to europe.e more from the conference, the second annual mobility event today. stay tuned for discussions and including the head and cofounder of the autonomous tech firm, john. a quick check on markets, japan moving higher, reflecting optimism. apple impressed investors and traders are rethinking their bets. outpacing gains, handing a special dividend. the stock is moving in the opposite direction. it is a company lowering its profit margins. it had seen up to 75 million, so a big drop in investors are concerned. you can see past interviews on our interactive tv function or dive into functions we talk about or the conversation by sending us instant messages. this is for bloomberg subscribers only, check it out at tv . ♪ >> let's get you across corporate headlines. brookshire hathaway rose to $189 billion. they trimmed their stake in apple. warren buffett said apple is better than american express and coca-cola. qantas will pay a fine of $100 million for selling tickets on flights they agreed

let's cross back to annabelle. annabelle: thanks.ve got singapore's senior minister of state joining us. we can get started with this new roadmap. you are hot off the press announcing that. what exactly is it? >> a series of pathways we hope businesses can get on board, thinking through how they do their hardware efficiency, software efficiently, the kind of partnership that we want to see between the data center operators, their clients, and the energy providers. we want the increasing use of green energy. this is a roadmap to that end. we lay out the 300 megawatt delta and the capacity that we can guarantee. this is resource allocation. then a sense of ambition that we want to do much more. the industry players have come to us. they've got some ideas of the kind of partnership they can put together with energy providers. if we can do that, great. if we can do more, even better. >> 300 megawatts of additional power in the short term. it is not enough? the world bank was reporting that the amount of energy that's needed for ai tools

paul: bloomberg's annabelle droulers there live from the asia tech summit in singapore. stocks we will be watching. trade opens in korea, japan and australia at the top of the hour. bhp is in focus after the aussie miner abandoned its bid for anglo american. sony is in talks to acquire queen's music catalog which could total of $1 billion. and keep an eye on australian agricultural and others as canberra announced that these exports to china are said a result. asian carrie is also in focus after american airlines cut its guidance. haidi: when it comes to commodities, oil in particular, this is the picture. new york crude is flat, just under $80 a barrel. retreating on wednesday on broader risk-off sentiment offsetting the heightened tensions that we continue to watch in the middle east, this before the opec-plus supplier meeting on sunday. we see a bit of a decline, also some studying. commodities more broadly following bonds and stocks in the u.s., at lower. that disappointing cell of treasuries is reverberating across asset classes including commodities. also watching

annabelle: very busy day for fed speak. let's kick off with what wie seeing in japan. the big focus in the country is what's happening with the 10-year yield. just continuing to track a bit higher. we're sitting at levels we haven't seen since 2013 for this bond here. certainly the question is, thage station that -- thage decision that we're getting from traders, when we're going to see the b.o.j. start to cut or hike rates, we're hearing them say the same three moves this year could be possible. we are getting close to the 1% market. continuing to track the 10-year yield at levels we haven't seen since 2013. really does play into the currency dynamics. again today in the stherks yen fractionally weaker against the dollar here, trending back again closer to the 157 mark. stocks wise, look, we're a little high right now but fairly range bound on the session. that points to what we're saying. nvidia numbers are yet to come out. you mentioned the cleveland fed president, three rate cuts could no longer be appropriate. what does that mean for the dynamics of japan as well,

. >> annabelle llanos is one of the dozens of tenants on 26th avenue in oakland's fruitvale neighborhood who are suing the landlord for mold. cockroaches holes in walls, weeks, electrical issues that a lot of the tenants have been dealing with this after an electrical fire back in january. jackie's in erie is the tenants lawyer. they left tenants to fend for themselves for weeks. they left them without utilities or even without real housing. the landlord is someone who doesn't live in oakland but bought this property in oakland hoping to >> make a profit off of not making repairs. and i think landlords should be on notice that that that isn't going to happen here, that there are real consequences to someone does that. the law no says electricity has been restored to most of the units, but 4 units have yet to be repaired and are being powered by a generator. >> that sits outside her window and it makes her family feel sick from the fumes. know we've been enduring for over 4 months >> being on temporary light, we don't know when this building with power power off again. the lawsuit is seek

joining me tonight are annabel denham, comment editor at the telegraph and the american journalist, brian

. >> annabelle llanos is one of the dozens of tenants on 26th avenue in oakland's fruitvale neighborhood are suing the landlord for mold. cockroaches holes in walls, weeks, electrical issues that a lot of the tenants have been dealing with this after an electrical fire back in january. jackie's in erie is the tenants lawyer. they left tenants to fend for themselves for weeks. they left them without utilities or even without real housing. the landlord is someone who doesn't live in oakland but bought this property in oakland hoping to >> make a profit off of. >> not making repairs. milano says electricity has been restored to most of the units, but 4 units have yet to be repaired and are being powered by a generator that sits outside her window and it makes her family feel sick from the fumes. know we've been enduring for over 4 months >> being on temporary light, we don't know this building would power a power off again. the lawsuit is seeking compensation for the thousands of dollars in out-of-pocket expenses due to lack of electricity and heat, including food, medicine, clothing, blank