most of the developed economies here in asia. but what about southeast asia ?utheast asia? it is definitely in developed economies. it makes sense. from a financial institution standpoint, if you get users to use the up for more transactions —— app. that means that they are going to branches, atms, and overall they save a lot of money. have you deal with cyber attacks? most banks will secure transactions in the same way that they do with credit card, so there is fraud, they will secure the transaction if it is reported. —— if there is fraud. regina lopez recently turned a spotlight on the track was in favour of going towards using renewable energy. when funds are part of that mix, and one year in manila —— one area of manila is not only providing jobs, but torres. it isa not only providing jobs, but torres. it is a huge challenge for the philippines to find cheaper, cleaner, and more efficient ways of power its growing population and economy. jeannot lopez was forced out of a job as environmental minister after making many enemies. —— app. she won the support o

the chief asia—pacific executive for ca rgill, i ask asia—pacific executive for ca rgill, iask him asia—pacificrgill, i ask him why it was such an important market for the firm. asia is very important for three reasons. worst of all, a favourable demographic, rising urbanisation which fits well in our portfolio. we know cargill is a firm supporter of free trade but with the demise of trade packs like the dpp, how is it that it has limited your goods? cargo has been in business for 50 yea rs. we cargo has been in business for 50 years. we favour global trade but at the same time there are tendencies for nationalisation. we wonder how to adjust the system to that. for those who continue to push and promote local trade as well. with local production, you talk about agriculture for a lot of your products, but there are concerns around accusations of deforestation linked to you, and land clearance in brazil, despite terrance not to do so. brazil, despite terrance not to do so. in asia, malaysia and indonesia, there is clearance for palm oil. what do you say to these accusations? we are explicit that

the united states is an asia pacific power. the united states is the preempt -- preeminent asia pacific power. we will be an enduring presence in this part of the world for decades and centuries to come. second, mr. president, with regard to how to address the rise of china, the principles we need to think about. we must continue to strengthen, deepen, and expand our comprehensive set of alliances in the asia pacific that have been built over decades. now, the united states faces many global challenges, but one of the most critical strategic advantages that we have as a nation in terms of security is that we are an ally rich nation and our add adversaries and potential adversaries an competitors are ally poor. just think about it. look through and think through all of the countries that are treaty al lays -- allies of the united states or wanting to get closer and then think of other countries, china, russia, north korea, iran, all ally poor. this is particularly the case in europe and the asia pacific. as i mentioned, alliance

daybreak: asia." sales, what are we expecting? >> a data dump coming through, the rebalancing working out. at what has been going on with alphabetic come amazon, facebook, microsoft, and apple, $3 trillion of market capitalization. a lot more from australia and half an hour. betty: what are we expecting for china's industrial output and retail sales numbers? we will get instant analysis , the chief economist looking at that. central banks as well as we see global tightening taking place. ♪ ♪ i am haidi lun. rishaad: i am rishaad salamat coming to from bloomberg's asian headquarters. this is "bloomberg markets: asia." ♪ haidi: cap the data and concerns about north korea. that missile launch seen as a direct challenge to washington and south korea. haidi:

together and south asia. in particular, the building capacity of our partners. the indians have taken a recent interest in getting more engaged in the asia pacific, part of modi's act east. but i actually think there's more we can do at the strategic level to find ways to build capacity with the southeast partners and south asia in terms of building a way to check chinese ambitions a little bit. also, more cooperation in the indian ocean region for sure. of course, historically, that's been india's space. but i think there and more the united states and india could do together in that area, as well. we have a very successful exercise called malabar that we do with india that we invite the japanese to. i think going back to the point i made earlier about networking our security relationships, we should really try to press the indians to also include allies like australia into that exercise. the more that we can -- we and india can work together to expand this hub and spoke approach to the region, i think, the

a pivot away asia.space that is opening up for europe to make its own pivot to asia and as we are seeing here with the prime minister narendra modi going to europe on tuesday as well as the chinese prime minister in berlin and germany as you see with these pictures on wednesday, there is a world order that is giving space to asian leaders trying to take an opportunity here. let's talk about what is mr. li.g with he will be speaking at the annual prime ministers meeting, that has been mr. happening fore past 13 years since 2004. there is more opportunity to be one here after donald trump's pullout and the issues he raised with the european union. -- mr. li goes to brussels for the summit and trade will be the top of the agenda. function set to germany. you can see that after if you look within, the netherlands and france are the top one and two trading partners but after that, it is china at $163 billion. beating the u.s. just by a hair. the u.s. is $162 billion. climate change and free trade definitely

this is "bloomberg markets: asia."gains after wall street hit near highs. the s&p 500 index closing above 2400. shareholdings in u.s. treasuries by the most in two years, yet further signs of stability and strict controls has stemmed capital. looking down the road,

this is "bloomberg markets: asia."or the asia-pacific with a string of markets closed. st. louis fed jim boehlert saying the economy is close to the target and it is time to consider unwinding the balance sheet. india and china begin trade talks in europe suggesting asia is more important for the eu economy. it's a funny start to the trading week. major markets closed across the world. china and hong kong closed for the dragon boat festival. australian markets underway. quite a bit -- bit of pressure. take a look at this chart. the aussie stockmarket rally. this bull run we are seeing failed to reach 6000 last month is starting to diverge from the rally across the rest of asia. it is in the turquoise, going higher. you can see the decoupling. there's concern the decline in the iron ore price, trading below $60 a ton for the first time since october. that is starting to weigh on sentiment when it comes to currency as well. the national australia bank saying they see the aussie inching toward 70 this year, depending on w

you're watching daybreak asia.have the first word news with courtney collins. >> chancellor angela merkel has attacked rising protectionism ahead of germany's posting of the g20 in july. she said there may be short-term benefits, but long-term harm. she did not mean any single person our country but pointed to the difficulty of making progress at the g20. the whitetrump won house campaigning on the slogan of america first. >> those were trying to withdraw from international competition can maybe hope for short-term advantages. but in the middle and long-term, their ability to innovate is weakened because new ideas and developments go best in an environment of freedom and openness. yvonne: u.s. commerce secretary wilbur ross told bloomberg some parts of the tpp could be used to revamp nafta. president trump pulled america out of them tpp just days after taking office, and is been critical of nafta, threatening to withdraw if the u.s. cannot have new terms. >> their parts of nafta that are ok, parts that do not work.

this is "daybreak asia," live from our new york and asia headquarters. am new york -- i am in new york, it is just after 7:00 p.m. yvonne: i am yvonne man. it threw us off guard. everyone raising rates. perhaps that means a june. by another word, prudent. caution from the fed about when we could come out of this. betty: you have to look at the data and not blame the fed for giving mixed signals. data itself is showing mixed signals in a consumer confidence, consumer spending, diverging. you have a job market so hot in the u.s., but then inflation is so not hot. what is going on? you cannot blame the fed for putting their feet in both areas right now. in any case, market investors really parse those minutes. the focus may soon turned toward opec with that meeting underway in the nfl. here in asia we are looking ahead to singapore gop numbers and the bank of korea's decides today. let's see how new zealand is trading. to four daysing on of gains. economists expecting a budget surplus. stocks flat the first couple minutes. australia, a strong crude rally le

this is the second hour of "daybreak asia" live from bloomberg's asia headquarters. i am betty liu.k started. lots of questions on what else we are going to hear from trump. it seems like pretty smooth sailing over the weekend, specifically for the companies there, but also markets. worth for 11illion companies, quite sizable. we will get to that later. a goldilocksre in situation when it comes to equities, a modest rebound on friday, strong earnings season, low yields, commodities cheap, cash looking for some returns. let's get to the market open. sorry, i meant first word news with paul allen. good morning. paul: good morning. ministersic trade issued a diluted statement in hanoi, suggesting pressure to avoid criticism of protectionism. the focus on regulation, red when and contracts ministers reaffirmed their determination to resist protectionist measures. the meeting go out to pursue a regional trade deal without the u.s. >> there is a lot of unity amongst the countries and desire to work together to find .greement among the 11 it is also open to other countries of the world to

good morning, asia. hello, world. welcome to another edition of asia business report.d you could join us. it's a friday. the first made in china passengerjet will fly for the first time this morning. it is called the c919, and it is built by komak. it will not be delivered to airlines until at least 2020, but the industry buzz around the aeroplane is huge. it has been in the works for nearly a decade as china tries to rely less on european airlines like boeing. we had a sneak preview. made in china, those three words now applied to commercial aircraft. this is the c919, china's first home—made commercial aircraft. actually, it is a mock—up, but they hope to roll them off the production line next year. china hopes this will be the chance for them to break into the global aviation market and break the struggle hold of boeing and airbus that have long dominated this industry. let us have a look. it is home—made, but not in its entirety. this is a large, the wing, the tower, all median china, but the engines and systems are from foreign key factor is. —— tail. let's go to

looking ahead in asia.ight at the start of the week as we just discussed, from france to korea, central bank. also boosting inflation in a world where prices are stubbornly low. kathleen hays is in tokyo. nobody knows that better than the japanese. , he hasgovernor kuroda been boosting inflation for years, looking for the reflation , but he is confident he got it right. does he have it right for your kathleen: he is moving in the right direction. the development bank continued over the weekend. sundayome saturday and trying to power monetary policy. policy bank meeting on saturday. there is the favorite of the next head of the philippines. a greatmmenters and panel. governor kuroda basically said, i thought it was interesting, when he was describing lessons from the bank of japan and if they apply to the rest of asia. it is hard to say, but he is doing his best effort to boost inflation to that 2% target. he is acknowledging how tough the battle is. and again, both sides of the story, jumping and bloomberg

check out how asia and the rest of asia is performing with many markets coming back from the labor dayart -- holiday. slow going in that -- in new zealand. the kiwi yet .6913. it is at the high side of the range. futures looking pretty firm, slow going in sydney. ahead ofthe aussie, the rba decision. rate cuts could get stronger, look back for some of that guidance from the central bank later today. dollar-yen, a solid session in japan monday when most of us were off. giving a green light. 111.87, a 70 point pop. decisions, anda china tightening manufacturing data. the official numbers come in soft over the weekend. it was a pretty mixed session on wall street. donald-front was soft. trump talking about breaking up the banks. betty: a lot of headlines moving the markets. we closed here on how a few hours ago. let's bring up the boards. the s&p closing slightly higher, the dow softer. we had mixed economic numbers. personal income and spending coming in below estimates. the focus for investors was tech shares. nasdaq to aed the record high of 7/10 of 1%. , many futures, are. pretty soft

you are watching daybreak asia. ♪ ♪ ramy: you are watching daybreak asia, i am ramy inocencio in newnne: i am yvonne man in new york -- hong kong. the financial times says it involves investment in its comacs aerospace arm, -- has completed the first test of its jet. toyota, bmw, and two other automakers have reached settlements worth $553 million to resolve claims from takata airbag recalls. they have a program to raise participation in the recalls. products have been linked to 17 deaths -- to many deaths worldwide. yvonne: aston martin considering an ipo as early as next year. sources tell us the company is awaiting 2017 results but declines to list in london. in 2015.ent public they traded 14 times earnings. att would value aston martin $3 million. we talked about cars, let's talk about risk aversion. i do not think we are quite over this political storm just yet. look at this chart. you can see where the traders are when it comes to bond markets. they are going long on treasury futures. the price is speculative and they are returning in a big way. we have not seen it go this fast

you are watching daybreak asia.first word news. >> as australian prime minister malcolm turnbull is meeting with president trump, it seems as if he has been echoing some of the president's rhetoric at home. he is attempting to appeal to voters with nationalist, nationbuilding policies. that move will likely see the deficit expanded and could cause the nation its aaa credit rating. the wto has upheld australia's right to impose plain packaging on tobacco products. a federal dispute panel agreed the laws introduced in 2011 are a legitimate public health measure and do not violate trade deals. this could usher in a new wave of restrictions around the world by governments who held off after four tobacco producing filed complaints. the mission to replace obamacare has staggered through the house as republicans mustered just enough support for their new bill. the 217-213 vote moves to the senate now, where it is seen as having little chance of passing in its current form. would cause millions of people to lose health insu

is "daybreak asia" live from bloombeerg's u.s. and asia headquarters.an.am yvonne taking a look at how things are ,oing, we saw this slow churn apple earnings the big thing after the bell and what it will mean for suppliers. >> that's right. presidentok at why trumps pick for ambassador to china. >> we are at the milken conference in beverly hills. hour.eat guest this that, the austrian trade downter will be sitting with bloomberg on this tpp campaign after the u.s. dropped out. it seems like he is turning the tide to their. >> we will see if he can continue to spread his message in beverly hills. markets in the region, a slow churn higher come the fed come the jobs report friday, the second round of the french elections over the weekend, but the kiwi dollar goting after we unemployment numbers dipping more than 4.9%. noteems like there will be be much resistance. stocks flat. australia snapped at days of gains on tuesday. let's see how futures are pointing, quiet and asia. -- in asia. fusion is futures flat. crude,ed below $48 on gas stockpiles could b

this is "daybreak asia," from bloomberg's u.s. and asia headquarters. am betty liu in hong kong, it is just after 7:00 p.m. yvonne: it is just after 7:00 a.m., i am yvonne man. we were expecting to edge lower than the 3.7% we saw in march. it kicked higher by three basis points. it has been the emotion and heart of what led to these protests. we have the breakdown when it comes to youth unemployment, which did reach a record in february, more than 12%. betty: that is such an important point. it seems that at least except for these numbers, south korea was enjoying good employment numbers. but youth unemployment is so important. part of the reason why, there is discontent among the populace. wage growth is not moving in south korea, that is a big task for the new president. yvonne: he did mention his first focus will be on jobs. he wants to create 800,000 in the public sector. then, we will see how korea trades in an hours time. let's see how the rest of asia is performing. we did get central-bank atormation, anz unchanged 1.75%. the kiwi tumbling the mo

asia looking decidedly mixed. u.s. futures falling as well. asia looking decidedly mixed.ng, this chart, iron or. the price has stabilized over the past few sessions at 60 u.s. dollars, but this could get a whole lot uglier because iron ore stockpiles are surging higher and higher. in fact, the amount added this year so far, we are only and may of course, has already surpassed the total amount in 2016. chinese mills are producing a amount of steel, rising 3.6%. of comparison, we had all 2016 just over 20 million tons. terms ofto come in paying for iron ore prices. let us get over to jules. thank you. i'm looking at the u.s. futures at the moment because that is where you are seeing much of this reaction to what we have seen coming out of manchester. the s&p 500 has risen for the past three sessions near those record highs. .2% onbeen holding down the futures and the pound falling against the dollar, down by .2% as well. that is where we are seeing much of the reaction and of course a little bit of a flight to safety with the japanese yen, the front runner out of the g10 cu

you are watching "daybreak asia." yvonne: this is "daybreak asia."hest man, the head of the largest soft drink maker, says the rise of the internet is ruining the economy. he is now merely the eighth wealthiest man in china. ma ands alibaba's jack others are on the race to the bottom. we should encourage the development of the real economy, as it is creating real wealth. today the virtual economies over growing. -- the key tenet tenet of the virtual economy is money begetting money. now it is money out of the pocket of the real economy. it will not help accumulate help -- accumulate wealth, nor gain profits. is generated from the loss of others. i don't feel this type of economy is a good thing. reporter: service industries are growing well as opposed to larger manufacturers. china's economy is changing. you recognize that? >> the new economy you mentioned is the internet economy. it has created some jobs, but at the same time brought about unemployment. it has forced a lot of brick and mortar retailers to close down. i notice in the u.s., the retail

it is fantastic to be here in the asia—pacific.rld at the moment and, therefore, globally there is a lot of pressure on us to grow our business. we have been here for 50 yea rs business. we have been here for 50 years and there is absolutely no shortage whatsoever of opportunity here. our greatest challenge still remains a talent. we are service sector and talent is critical. as a brand we must remain relevant and we must retain the best talent in the real estate sector. as a property investor, we should i invest? you know singapore, you feel comfortable here and i think singapore is a safe bet. a little bit of a wild card, i would start looking at india and japan as future will potential residential opportunities. let's have a look now at the markets and asian stocks are flat to negative right now after us securities fell overnight. and worse than expected sales dropped from us department stores. fears are that consumers are not spending enough. this impacts asian markets because many of the products being sold in the us are being

rishaad: i am rishaad salamat from bloomberg's asia headquarters. markets."omberg ♪ sophie: asia-pacific stocks extends wall street's decline. oils recovery stalls. rishaad: president trump raking with the white house message, saying he intended to fire the grandstanding fbi director all along. taking the boe governor it for granted that brexit will be smooth. rishaad: the governor of the central bank of the philippines joins us in the next few minutes. indeed, the central bank in manila did keep rates on hold. malaysia out later with the decision. #8502, interest rates in the philippines, no change. or real interest rates are in negative terrain, with the philippines to hike in the inflationer or so, as eats away at that interest rate margin, sending rates to negative .47%. sophie: banks under pressure to take action given inflation pressures. malaysian cpi rose to an eight year high. -- tore announced to announce the policy decision at 3:00 p.m. rishaad: -2%, that is what we have at the moment. sophie: how our markets tracking. it feels like the focus is ba

at asia?ink he will, because after europe it will be the first, i would say, reason to visit because of the amounts of money that we are talking about, and also the cooperation. 0n the other side of the atlantic, since president trump is not positioning himself as a globalisation champion, i don't see many other opportunities, so this is why maybe by default he will come to asia rather than somewhere else. we will leave it there. thanks for joining us. let's ta ke joining us. let's take a look at some of the news will be keeping an eye on this week. tomorrow, tuesday, it's the turn of the south koreans to cast their vote for a new president. the election comes just a month ousted president was arrested on corruption charges. snap will release its first earnings report in new york, and toyota later will release full—year results. the strength of the yen has been a drag on the carmaker‘s earnings, and we'll also keep an eye on oil prices after a big slide at the end of last week, though oil pric

and southeast asia.e isn't opposed to stronger cross strait economic links and called china big market that should not be pushed away. global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. this is bloomberg. haidi: thanks for that. china's foreign exchange reserves rising for a first-rate month in april. tighter capital controls reducing outflows and the yuan holding stable. a trade data out today at some point expected to show a slowdown when it comes to exports moderating from the stellar growth of the last few months. tom mackenzie has been following this for us. you saw the fx numbers of the weekend, how sustainable is it? question iter that is worth going back to january, you will remember the hand wringing win fx reserves drop through that $3 trillion level. seen three consecutive months of strengthening, over $20 billion in april, hitting that $3.03 trillion mark. there are a number of factors feeding into this stronger fx reserves pile, the capi

you are watching "daybreak: asia ." ♪ betty: this is "daybreak: asia." i am betty lou in new york.nne man in hong kong. the former fed fund manager was barred from the sec, but he has made quite a comeback. he is the single biggest foreign investor in vietnam, and he just wrapped up a roundtable with the prime minister of vietnam. you saw some headlines moments ago, going to announce $15 billion to $17 billion worth of deals with the u.s.. i spoke with falcone about what was discussed in the meeting with the vietnamese prime minister. >> we have been involved in vietnam for 10 years, building out this real estate project. this is completely separate from ihc to venture. at this is something from a legacy perspective -- betty: a harbinger? >> yes. they are interested in seeing more and opening up the markets a bit more. they wanted an introduction to some prominent investors that were here, including some different corporate corporations, so we hosted this event, this roundtable event this morning, with the prime minister. betty: because he is headed to washington to meet with the r

let's look at another part of asia, particularly south asia, the indian subcontinent.lot. how do you look at it right now? mark: i think it is terrific what is happening in india. let's remember it is a federation of states that have been very divided. now they are coming together, not only because of this tax law, but because of the internet. a whole change is taking place in the munication's between people in india. not only india, but all over the world. >> are the chinese beginning to find a way? they are taking some measures to control those risks. in your mind all risk of a disorderly unwind of excess leverage in the chinese financial system? mark: and an individual company level, there is no question there are risks. you have to be very cautious. when you look at the major state owned enterprises, there is no risk. this is a planned economy. the government decides what is going to happen to these companies. whenever is required will be done. just like in the u.s., with the subprime crisis, eventually people were bailed out. in china it is more so. the government

this is "bloomberg markets: asia." asia-pacific markets extending gains after wall street hit near highs. the s&p 500 index closing above 2400. shareholdings in u.s. treasuries by the most in two years, yet further signs of stability and strict controls has stemmed capital. whatng down the road, message is xi jinping trying to send and how is it being received around the world? we are seeing this risk rally play out across asia markets. completely unsurprisingly, the intors seeing most gains australia and tokyo are energy, materials, infrastructure related stocks looking to get a from the $78t billion pledge by the chinese president in his roads initiative. we are 30 minutes away from the china. in looking at the theme today, it's hard to get away from the higher bys drive, led the cohesive comments from the oil ministers of russia and saudi arabia and beijing yesterday, saying that they want to go another nine months when it comes to this supply cut deal that was reached. and began in january. take a look at this char

this is "daybreak asia."or those invested in emerging markets, june 20 is going to be a date for your diary. says they willci say whether or not to include china a shares into the benchmark emerging markets index. i want to bring in hand henry fernandez. great to see you. know you have been traveling around the world. you must never get back home. let's talk about china. that is what is relevant to our viewers. i know you cannot say the obvious question, which is will they or won't they get into the index? maybe i start off here. why has it been so difficult? >> i think there has been a process -- this is the fourth attempt -- in which we are trying to marry the needs of international investors with the conditions on shore in the china asian markets, in terms of accessibility. market accessibility. it has been to do with market prospectus, good or bad. it is accessibility. we tried last year, and there were big topics. can you access the market through -- doors? the second was voluntary suspension of trading.

this is daybreak asia, coming to you from u.s. and asia headquarters. i am betty liu betty liu in new :00k, where it is after 7 p.m. yvonne: i am yvonne man in hong kong. why is he so worried about inflation? his counterparts have overlooked the last two months in recent weakness as a fake. he said missing the 2% inflation target does raise questions. what does that mean for this? it could impact the role of the balance sheet. that could be key. betty: we have a guest coming up that says the fed has been excellent in terms of broadcasting how they will reduce that balance sheet. yvonne, let us come quickly into my terminal and look at my favorite function when we talk about this. w.a.r. p -- wirp. chance that we will see a rate hike. how many is the question now. by the end of this year, we will have 49%. we will have one rate hike. have two. we will the big uncertainty is three. 9% as indicated by fed funds futures. three more, i should say. in total, it seems the fed consensus is we will have two more this year, but it does not seem to be a sure thing

this is "bloomberg markets: asia." ♪ haidi: asia-pacific markets on the slide has oil drugs on energywo years, but 2% still far off. crude slumping, opec extends curbs into 2018. traders were left underwhelmed.

♪ this is "bloomberg markets: asia." am haidi lun. ♪ haidi: oil strengthens after saudi arabia says oil producers want longer output curbs. opec said to expect a nine-month extension. energy lifts markets, global equities near record highs. and, asia-pacific trade ministers concerned about rising protectionism, but no mention of it in their post-summit statement in hanoi. the start of the brand-new asian trading week. it is all about oil. we are fast approaching that meeting in vienna. the markets have pretty much priced and that nine-month extension. latest over the weekend, we are hearing that saudi arabia saying all opec producers are up for this extension. take a look at this chart in terms of where price expectations are going. that front month the vti with the nearest expiration contract, converging at $50, so whether the news has 10 baked in or there is further upside when it comes to that oil price, even if we get that extension, and the flip side of that story is where u.s. shale production goes from here, becau

is daybreak asia coming to you live from bloomberg's u.s. asia headquarters.t is just after 7 p.m. here. big storytty, the here today is going to be the victory of moon jae-in. it was not an easy win for him overnight. long looming challenges ahead after suffering from the present election. he has 41% of the support. he campaigned on a stimulus program to create jobs and growth and promising to unite the nation after nine years of conservative rule. shery ahn is live from seoul for us this morning. good to see you. moon obviously has a lot on his plate. shery: yeah, he does. you mentioned some of the issues but he has to deal with north korea relations with china and the u.s.. moon led the conservatives to victory by a margin of 41% of the vote against 24%. his first task after declaring victory comes here at the seoul national cemetery where he's going to pay his respects. he is expected to visit the andes of former presidents, even the late father of a former president. he wants to show unity for south korea. after he declared victory, he gave a speech to su

in southeast asia, as well as original productions in selected countries across asia.e bringing the strategy to the middle east and africa, but on a localized basis with local actors, directors, producers. angie: local meaning the price point is much lower than a $10 million per episode of marco polo or the crown? >> of course. much, much lower. we think demand is higher for that lower price. angie: look, you are charging two dollars to three dollars per subscriber, probably about what half of what netflix is charging. first of all, do think this is enough to make money, and number two, people can download stuff for free, and they have been comfortable doing that outside of the u.s. how do you combat that? >> it is interesting you mentioned that we view our primary competition as piracy. we have to deliver a service at a price point and with convenience that is even better than piracy, that delivers a better service than piracy, because piracy does require downloading or buying dvds, and we believe we are delivering a service that may cost a hit, but because of our int

asia pacific stks

this is "daybreak asia."arkable success story passing a milestone with rbc saying it could surpass the market cap of $1 trillion over the next 12-18 months. apple has the potential to generate eps of $12 , taking it past the magic $1 trillion. , forberg has 389 buys holds, and no sells. >> peach aviation the first carry to accept bitcoin for tickets. crypto currency will be in place by the end of the year. peach and to link with local governments and companies to spread the usage of that coin. the ceo says he wants to encourage more tourists to revitalize less well-known parts of japan. these are closer to expanding in visa closer to expanding in china. it expanded payment companies. is struggling in china, while union pay, alipay, and tencent financial expand abroad. its is thisenting outlook at its investor relations day, and you are , how he has been able to turn around sony's consumer electronics, and how dominant they have been in the five years since he has taken over. is this restructuring of sony comp

some -- in asia as well. it focuses on the united kingdom here.he national health service, well known as the nhs, 48 have been attacked. they have mostly come back online, 90%, but they were turning people away for surgeries that were already scheduled. we can only use pen and paper. don't come in now until we come back from this. and a nissan powerplant was also affected. fedex, theed states, global logistics carrier, has been affected, but no details. they said in a statement they have been affected and apologize for what is happening. and russia has been affected. the interior ministry said 1000 computers have been affected. they do point out it was only about 1% of all computers, so they are trying to downplay. in europe, germany's autobahn has been affected and in spain as well. asia-pacific, according to sky and australia, one business has yet been unnamed, but one has been affected. they point out no governmental organization has been affected. china social media is pointing out gas station payment systems have been affected. you cannot use

trading in asia hitting underway.has been a funny session for this monday. julia: a lot of direction lacking. china and taiwan closed. volatility on u.s. markets on friday was virtually nonexistent. it seems to be the same here in the asia pac region. another missile test from north korea. but once again south korea taking it in stride. seventh consecutive session at a record high. they have squeaked out from some of these commodity-based markets . isis faring -- new zealand faring better than it was. it has been fluctuating today along with movement in the japanese yen. the yen had been strengthening significantly against the dollar during overnight weekend trade now it is steady. in what you are seeing in commodities, all under pressure. around aoned oil off 10th of 1%. gold, fairly steady. doesn't seem to be much clear direction coming through to investors today. looking at the crude futures, it is fairly flat at the moment. it is been interesting. now is a good time to go long to because of the decision cut could

america's interests in the asia pacific region are deep and enduring. that's why for the past 70 years we have worked with our allies and partners to uphold a rules-based order based on the principles of free peoples and free markets. open seas and open skies and the rule of law and the peaceful resolution of disputes. these ideas have produced unprecedented peace and prosperity in the asia pacific. but now the challenge to this rules-based order amounting and they threaten not just the nations of the asia pacific region but the united states, as well. the most immediate threat is a situation on the korean peninsula. kim jong-un's regime has thrown its full weight behind its quest for nuclear weapons and the means to deliver them. unfortunately, the regime is making real progress. a north korean missile with a nuclear pay load capable of striking an american city is no longer a distant hypothetical but an imminent danger, one that poses a real and rising risk of conflict. indeed, as admiral harris said yesterday in testimony before the house, north kore

defense strategy that we assure allies in asia and europe. -- that reassure allies in asia and europe. next, i'll give you a quick overview of critical challenges in the asia pacific region. in the past several years, tokyo and washington have worked together with tremendous efforts to manage ever-changing strategic dynamics of the region. as nkatani mentioned, we had the comprehensive national security -- to provide outlines of the operational cope of the alliance and legal platform to further enhance the ore integrated bilateral operations. as such, the u.s.-japan alliance has been in good shape and i have a lot of positive views on the current status. however, the alliance needs to have a constant update without which it can easily dilute from emerging geostrategic shocks that we will face in coming years. of t and foremost, the rise china. the chinese defense budget exceeded japan's in 2004, now spends 4.6 times bigger and most likely -- most likely it will become six times in 2020. more than 10 times bigger in 2030. so we should bear in mind these statistics. we have to squarely

in a sense, asia can ta ke washington.e, asia can take some heart from that because at some point, investors here are going to say hold on, our economic fundamentals are still strong and they are still company proffered earnings reporting solid results. the ongoing political situation in the us does not appear to have any end in sight but while that trundles on, asia will start looking to the other big partner, the neighbour, the giant in the neighbourhood, and thatis the giant in the neighbourhood, and that is china. i expect to see more deals in our relationship growing in the days and months to come. thank you grew much for that update on the asian market story. moving out corporate news and alibaba, the e—commerce giant from china will be reporting today. a key part of its strategy is connecting the huge consumer market in china with us entrepreneurs. it is something that jack marx spoke about with the us president is we report from new york. —— jack ma. president is we report from new york. ——jack ma. he is president

" as we look forward to the sig summit n asia.hat happenedcuss on president trump's first overseas trip. we will analyze that and figure out what that means going forward. >> it looks to be a quiet week as u.s. come u.k., and china markets closed. that ninth ofring the stigma still, but a lot happening on the data front. speakers. several fed atindeed, let's take a look market reaction. markets closed on friday and unchanged on friday, a lot of economic members straight ahead in the u.s., including housing, on friday. looking at the market so far, the only market open is new zealand, a touch lower here. to be starting things next given how thin trading is likely to be today, but heading lower when it comes to the nzx 50. let's head to australia real quick. we did see recovery after that group meeting. pretty soft open for the aussie dollar, but looking to the upside on the asx 200 today. japan, north korean concerns, , but someof risk off strength for the japanese yen, -- 11.22 ithave seen a pause when comes to this equities rally

this is bloomberg. ♪ haidi: this is "bloomberg markets: asia."haidi lun in sydney. a quick check of the business flash headlines. singapore exchange is nearing a deal that would encourage local startups to go public. under the agreement, the firmsge would help text and investors with the ultimate goal of securing a listing. it would allow sgx to engage earlier and allow for competition. the agricultural trader bunge jumped. glencore is an contact and finished the london session down. e jumped, taking the fire above $11 billion. toshiba and western digital are meeting on wednesday to resolve their dispute over the flash memory chip unit. western digital is ready to make concessions in order to retain its share of the operation. westinghouse creditors have dropped their opposition to a final bankruptcy loan, clearing the way for to receive $450 million to keep operating. sony's consumer electronics division now enjoys a dominant role when it comes to the gaming sector. the ceo told sony investor relations day that movies remain a hugely important p

and we ared salamat broadcasting from bloomberg's asia headquarters.am haidi lun in sydney. china markets trading per usual as it is much of southeast asia, but the two biggest movers in terms of price action, the yen going past 112, heading towards 115 according to some analysts, and the apple story, disappointing. apple falling in the after our session come up but not much of a reaction because apple suppliers listed in japan and korea, so it is the ones in taiwan seeing reaction to apple earnings. let's get a look at the shanghai and hong kong open. some retail investors are getting more fearful about how economic momentum is going. and drugs finding favor when it comes to defensive place in the chinese market. closed along with japan and south korea, but chinese stocks coming online lower. , the specter of that regulatory clampdown, which investors are hoping will be short term pain. commentary that china's stock market should not overreact on the front page of the newspaper today. in shanghai, we have materials leading the drag. taking a look at c

in russia, and in central asia.an the country mitigate dependence on overseas energy supply? >> on one hand, chinese oil and gas companies like us must continue to play the role -- on the other hand, we need to speed up our efforts in collaborating with resource-rich countries to jointly develop assets in order to replenish our country's ever-growing demand for oil and gas. in this way, we can balance our heavy reliance on imports with better use of foreign resources. >> what is your outlook for oil prices and do you think that the opec cuts can balance the markets? >> i do not think it is realistic for the oil price to hike significantly and continuously in the short-term. at the moment, the global supply and demand is undergoing a transition. in the balance between supply and demand is the foundation for a stable trading price. we estimate that in 2017, price per barrel will be around $50 with possible short-term upturn. $50 is not sustainable. the oil price will see a slow recovery in 2018-2020. however, prices w

this is "bloomberg markets: asia." ♪ haidi: earnings for the key drivers of asia returns from the maydayreaks, japanese stocks seeking to extend monday's game. rishaad: president trump telling bloomberg he's prepared to break up the banks to separate consumer and investment operations. australian bank irving -- earnings rising on a strong domestic performance, but a still slight miss underestimates. rishaad: steven mnuchin denying plans to restrict foreign investment in the u.s., saying national security always comes first. about half an hour before the trading day gets underway. just taking a look at what's been going on. china under pressure. the shanghai composite. let's go to the bloomberg terminal. showing -- it is showing china's a run of essentially a solid economic indicators, moving to consolation for the shaky financial market we saw last month. we saw the tightening in money market liquidities from autumn last year. equitieslt, we've got fighting weakness. that is the top graph, the shanghai composite. that went down in april from near record highs. haidi: all of this despite

we contribute to peace and prosperity in asia-pacific and beyond. [speaking in native tongue] almost a year ago, the unprecedented and a very successful visit by party general secretary set a milestone and a critical turning point in our bilateral ties. this is now visit by my first visit to us as prime minister. [speaking in native tongue] just before coming here i held talks with president trump and prior to that had a series of meetings with american secretaries and politicians to discuss ways to strengthen the vietnam-us partnership. we agreed on a range of the collaborative actions to realize the twin objectives of growth and jobs beneficial to both sides. we will encourage our businesses to form production and value and further connect our two markets in a way that would bring the most benefit to our people into our businesses. [speaking in native tongue] the heritage foundation is an independent research institution having positive influence on america's policymaking process. your initiatives and regulations have been seen implemented and the

trade but also in asia.atch out for another big settlement that the world will be watching, the e.u.-china summit in brussels. all.is likely i am betty liu in new york. haidi: i am haidi lun in what you can see is a beautiful morning in sydney. be filledek bound to with news, but it will be a volume light session ahead. we have china, the u.k. and the u.s. close for holiday. a quick reminder of friday, up 0.7%. we had the selloff in oil. that really weighed on energy material resources on the asx. 0.1%. seeing futures up president trump is back in the white house after the first foreign trip that divided allies and opinions. germany says europe and the u.s. are drifting apart, china needs to step forward as a champion of global trade. we have the chief china economist joining us from hong kong. this does sit nicely with beijing's ambitions to build the vacuumfill the influence that the u.s. is leaving. reporter: trump has started to turn to domestic. right now, even at the g-7 meeting, there are short statem

you are big in central asia the5e 5pecific5. you are big in central asia these days. azerbaijan.ou tell me that article one of your charter which commits the bank to applying the principles of multi—party democracy, pluralism, economics, how can that possibly be applied to an economy and a body politic like azerbaijan? we say when we do our strategies, and they are coming forward this year, we look at the 14 coming forward this year, we look at the 1a point criteria. in some ca5e5, azerbaijan will find itself short. we don't actually make a hard and fastjudgement because every country is on a scale are essentially. what we have said about azerbaijan in the past is that they apply principles, though not perfectly. i am not sure that is right. i don't know if you bothered reading the independent human rights reports, but they recently said they are systematically dismantling the country's independence and society. your first article, your adherence to multi—party democracy, pluralism, market economics, ifail to multi—party democracy, pluralism, market economics, i fail to see how t

central asia, as you mention, into north africa too.your lesson from investing some would argue far too much of your capital into vladimir putin's russia at a time when nobody i think would really try to argue that he was upholding the principles backed in good old article one about multi—party democracy, pluralism and market economics. i don't think many would argue that putin was fulfilling all of those objectives. but you took that money after you were told you could no longer invest there and you put it into countries in central asia and north africa which again do not come even close to meeting your own founding principle. some assumptions there that need challenging. first of all, in 2012, the last russia country strategy in december, 2012 was approved after consultation with civil society and everyone else, and that had the political assessment in it. there was a lot of to and fro of course with moscow over that. so back then, 2012, in 2012 you were telling yourself that yes, vladimir putin's russia does tick all the boxes. multi

central asia as you mentioned and north africa too.our lesson from investing, some would argue, far too much of your capital into vladimir putin's russia at a time when nobody, i think, would really try to argue he was upholding the principles back to good, old article 1 about market economics and so on. i don't think many would argue putin was fulfilling those objectives. but you took that money after you were told you could no longer invest there and you put it into countries in central asia and north africa which again do not come even close to meeting your own founding principles. some assumptions there that need challenging. in december 2012 the russia urge strategy was approved after consultation with civil society and everyone else. there was a lot of to and fro, of course, with moscow over that. 2012, you were telling yourself that, yes, vladimir putin's russia ticks all the boxes, fully free market economics, pluralism, multi—party democracy. 0n on balance it did. really? that was a terrible judgement. if it was a mis— judgeme