asia for now.mpetitor on the streets of southeast asia. how does it feel?‘ lot of my start—up friends say you show these organisations what is possible, and show to the world that south—east asian companies can emerge winners. that is a big deal personally for anthony tan, the boss of grab. in a lengthy interview he told me how he was inspired by his grandfather who ran a taxi firm that grew into a multi— billion—dollar family business. there is a sense that there is a chip on my shoulder, that there is a chip on my shoulder, that i see my... always being called somebody‘s grandson or somebody‘s son. but now he said if they can do it, why can't i? but, even though he has pushed uber out of the way, there are other players racing to catch up. an indonesian company competing with grab in the motorbike taxis space has reportedly said it will have announce expansion in southeast asia soon. you can see why it motorbikes make such a big part of grab's business in indonesia. they are the fastest way to ge

one is the arms race in asia. an excellent piece earlier this week in southeast asia.when he breaks it down, the arms race is really less than the sum of its parts. a 10% increase year on year in southeast asia military spending, but a large part of that comes from personnel. the question whether that has to do with rising incomes and the cost of personnel. very little of it has to do necessarily with capabilities. you can again point to obvious things like vietnam has bought combat aircraft and submarines, et cetera. but they are replacing old capabilities. the question is are these just the modernization of capabilities or is it an actual change in deterrent effects? it's important, valuable it needs to happen. the narrative around it, we are having the wrong conversation. to the early points about the decoration, we haven't seen not in physical form and increase operations that estrada will walk a very fine tightrope between being sent to china, but also not impacting its relationships, economic relationships with other partnerships. britain declared it was going to

welcome to "daybreak asia." will allowll -- some countries to be exempt from aluminum tariffs, but not all. bloomberg's global headquarters, i am betty little. liu. after -- betty just after 7 p.m. sunday evening in new york. the t-mobile ceo wants to shake up american wireless. ♪ >> good would not be the word i'd use to describe these industrial protections. south korea industrial production for the month of down is adjusted here, 2.5% month on month, much worse than what economists had estimated. year, down 4.3%. expectations among economists for the month of march forecast -- industrial production to decline by 1.6%. there are quite a few troubles in the auto sector, including some plants shut down. this is a time we have seen these numbers shrink for the first time since december. any indication as to what we are looking into for the second quarter -- the mantra is that these are going to moderate. seen, globalhave demand is still quite strong. once we getmore those trade numbers out of south korea. >> inves

welcome to daybreak asia. a weaker yen may support japanese equities after the dollar rose to a three year high. futures indicate small gains elsewhere in asia. google's parent reports a surge of sales and spending. alphabet shares rose after the bell and then gave up a game. yvonne: i am betty liu in new york, where it is past 7:00 p.m. on monday evening as we get the week started. mike pompeo having a better week. succeed rex to tillerson as the next secretary of state. amazon working on another big bet. robots in your home. we are going to be live in san francisco with the details on that. betty: skittishness in the markets over the 10 year treasury yield, moving up to the 3% level. what is going to happen once a crosses that level? a big question for the markets today. that might be why, if you look at this chart here, the fear index is jumping, as you can see on the right. the fear barometer, which according to credit suisse, measures the price of bullish to bearish options. it is showing a spike. the fea

: asia."back as weakness sparks and equity market row. declines client on the s&p were the worst since the start of the great depression. i'm betty liu. it is just after 8:00 p.m. on this monday. looking for a fast deal on nafta. president trump's once -- president trump once in ts anncement -- wan announcement by next week. ♪ yvonne: new quarter, but volatility still here to stay. hopping back up to 24. the tech selloff was the culprit of all of this. are absolutely was. the index spiking yet again. it has really been the tech shares that are the culprit here in the market. that is what is driving these yields down in treasuries and driving the flows from credit markets to stocks. it does not look like it will end any time soon. it is an in a spacious -- inauspicious start. it could be a volatile session here. sophie: look at the mood in japan. futures indicating a drop for the nikkei 225. that has come to pass. riskng for a second day as sentiment is weakening. backe welcoming australia to t

it is also a noted expert on asia-pacific security. i think we have a great lineup that will offer three very different approaches. with that, let's launch into discussion. i would like to start with you sarah. he spent a lot of time studying and thinking about the chinese approach and in particular the south china sea. how does this all up for me chinese maritime perspective? >> well i cannot speak for the chinese, i met chinese. but thank you very much for the opportunity to present some ideas that i gathered from reading chinese analysis. talking with chinese experts. i was hoping specifically to focus on chinese perceptions and how this might be tied to their deterrent. and how it relates to the east china sea. i think my first point is we should look at the different levels of their perception that we can see floating around the influence chinese maritime behavior. i should perhaps add a disclaimer understanding this perspective does not mean endorsing it. it just means trying to understand the other side and where they're coming

for open of asia's markets.nd i am ramy inocencio and we will look at the action on wall street and how it will play into your asia-pacific trading day. we arewe get to that, talking about history being made in north korea and south korea relations. that theing forward to fact this is even happening. it happened so quickly with what with president moon and kim jong-un, sitting here, i cannot wait to see how this unfolds, if the man walks across and what happens if there is any particular peace agreement or development out of that. in the meantime let's get a check the markets and how they closed here in the united states. you can see the s&p 500 up across the board in the green. i was looking at the health of the s&p's 11 sectors and information technology was the biggest gainer, facebook in particular up 9%, the biggest jump in two years because of some terrific earnings. it also set up nicely in this part of the world with new zealand trading at off to a roaring start in the first few minutes. thank you weak d

welcome to asia business report, i am balance. welcome to asia business report, iam babita balance. to asia business report, i am babita sharma. balance. welcome to asia business report, iam babita sharma. oil prices in the spotlight today, and we will be watching for how they do, and asian traders are back on deck after prices slipped on friday following a tweet where president trump said this. well, they are trading at a three—year high, around $70 a barrel, and have been rising. what is going on? well, you and me and the rest of the world knows that president trump tweets a lot, but this was the first time he has ever tweeted about opec, the oil cartel, and that really lead to rattling the oil markets on friday. we saw the benchmark oil prices declining about 196 benchmark oil prices declining about 1% asa benchmark oil prices declining about 1% as a result of that tweet. they did recover modestly and we are watching those prices here in asia and they are falling again. there is and they are falling again. there is a lot of nervousness about his tweet but we know as you mentioned

good morning, asia, hello, world, glad you could join us for this tuesday edition of asia business reportth the google parent company, alphabet, and earnings soaring to $10 billion and the results have eased concerns investments in new adventures would undermine the google owned compa ny‘s adventures would undermine the google owned company's outlook. our business reporter kim gittleson said there's three reasons for these excess. there's three reasons for these excess. one of which is their core business, they sold more... —— the success. business, they sold more... —— the success. a second thing has to do with an accounting regulation which men for the first time alphabet, google‘s parent company, had to list all its investments and other securities and the key thing was their investment in uber. that led toa$3 their investment in uber. that led to a $3 billion increase in their revenue for this quarter and we're not sure if that's entirely attributable to uber, it doesn't say in the report, but it's a significant chunk. thirdly, what we've seen overall in the earnings season in the us,

time overnight for asia, mr.ffs, the threat of tariffs, could be something like a pandora's box, which could open all sorts of problems for world markets in the world economy. not the least of which, he thinks it could damage growth in the united states. say arehat did dimon the biggest risks the global economy? dan: in addition to the prospect of a trade war, he was discussing the fed's unwinding of a balance sheet. the idea of interest rates steadily rising. he said if this is happening because we have a strong economy, because growth is doing well because inflation is under control and wages or fairly steady, that is a good thing. that is how it should be. he talked of people's expectations and how they might be surprised if inflation suddenly becomes an issue. and if the fed needs to therefore act more quickly and rates might go up quicker than expected. betty: did he signal any plans for growth? dan: for jpmorgan he was exuberant about plans for growth. he went through every business -- bank has an talked ab

gojet as announced expansion and southeast asia soon.a rt why motorbikes make up such a big part of grab's business ending the need you. they are the fastest way to get around on this end same traffic. but condition for drivers as getting really and cans. these nudges transport. grab's real ambition column: any size of the payments market, which could be potentially worth $2 billion by 2035 and southeast asia. only one and four people of a bank account and southeast asia. something like one end ten are using a credit card any region. so this clearly a rural problem. the masses are not being served. they really coupled to be you. anthony tan as part of a new breed of asian entrepreneurs who are taking their place are mean to national stage with some of the world's fastest—growing economies and the region. mehedi hasan they can compete against global giant and win. addressing times. that's it for business briefing this hour. but before we go, here are the markets. the us markets to their battering earlier running trade on wednesday. but th

welcome to "daybreak asia."rade tensions, is it time to talk? willingnessicates to negotiate with china as tit-for-tat tariffs rattled the markets. beijing says it will not be pushed around and slaps reciprocal duties on america. from bloomberg's global headquarters i am a ramy inocencio in new york. of 87ok says the data million users was improperly shared. mark zuckerberg says he is still the man for the job. curved screens and touchless control, how apple aims to keep the iphone ahead of the game. we are live in san francisco. ♪ yvonne: we just got breaking news from south korea crossing the bloomberg right now, the current account balance for the month of february. we are swinging back into a surplus. it was a surplus the previous month but we have widened the surplus to $4 billion. much bigger than we saw in january of $2.6 billion. certainly one to watch for the korean markets. inuick, sweeping turn around the wall street session after these trade tensions seem to be simmering, seems to be more breathing r

it is good to talk about security in asia. since i came from japan, let me focus on the east china sea situation. the situation in the east china sea seems calm but that is what china expects the world to see. there are provocations still ongoing on a daily basis. so let me explain what is really happening. i was the situation continues to be deteriorating. as you may know, the chinese coast guard ships maintain presence on an almost daily basis unless the weather is not wrath. there is a certain pattern of chinese. three times every month, this is the fixed pattern after august 2016. previously it was three times, three ships, two hours. so the frequency remains the same, but the number of ships increased and it is actually armed. and also, the chinese coast guard ships are now 3000 pounds, whereas the japanese coast guard ships are 1000. they are becoming bigger. so the frequency remains the same. the challenge is now increasing. and also, just recently under the people's congress, the chinese coast guard is now under the co

asiae live from bloomberg headquarters. i am yvonne man, welcome to daybreak asia. u.s.anctionsw for links to chemical weapons in syria. trump says the attacks were mission accomplished. nikki haley says washington is sending a strong message and this time, everyone will feel it. york, ity live in new is just after 7:00 p.m. on the sunday. asia-pacific markets face a pretty muted start to the week. the yen is weakening as traders take the missile strikes in stride. the boston fed president is worried about interest rates. low inflation economies will not last. we are watching a lot of events and earnings. political risks but it is really quite busy on the fed speaking circuit. we have be the busiest seen in weeks, we will kickoff monday with atlanta fed president and robert kaplan will both be kicking off on monday as well as neel kashkari. incomingiams is the fed president. lots of eyes will be on him and then we have bill dudley and actuallylie evans will be speaking twice this week. i only just mentioned this to say that investors have enough going on. now they will r

much leverage into asia.re is more to go for asian currencies, and we maintained positive outlooks for the majority of currencies in the region. haidi: do you see much volatility ahead for r&d? everyone says it's not going to happen but the option is still there for them to use it in the context of the trade war. patrick: we could use that in the context, but we think we're going to see some tariffs as we have seen some retaliation. we see the currency getting stronger. we see dollar china trading before the end of this year. i don't think many in the market have been looking at that. it is only 4% from where we are now. we have to remember china's strong surfaces will be a driver of the currency strength from this point forward. haidi: a pleasure having you on. patrick bennett, strategist talking off things fx. coming up, santos surging as part of the energy comes back to the table with a better offer this time. we will have all the details, next. this is bloomberg. ♪ rishaad: you are back with bloomberg mar

since its inception with a focus on asia and a global perspective, the boao forum for asia has gone a long way to encourage cooperation from economic globalization and announced the building of a key immunity with a shared community for mankind with many valuable proposals. it has made a great contribution. boao forum for asia as had a major change in the board of directors. i wish to take this opportunity to express our heartfelt thanks to the outgoing members, and i extend our warm congratulations to the new ones. [applause] translator: the theme of this year's conference is an open and innovative asia for a world of greater prosperity. it is in line with the trend of the times and reflects the expectation of all parties. i'm sure that you're engaging -- that your engaging discussions here will produce many insightful views. ladies and gentlemen, friends, there are certain historic moments that allow us to move forward. marks the 40th anniversary of china's opening up, and also for the host of our forum, hainan province, this marks the 30th anniversary of the establishment of the pr

good morning, asia. hello, world. it is wednesday.orjoining us that this edition of asia business report. the latest twist to the trade row between the us and china, beijing has announced it is changing gears when it comes tojoint it is changing gears when it comes to joint ventures with foreign auto manufacturers. officials say they will ease the restrictions that require companies such as vw and general motors to partner with domestic companies in order to do business on the mainland by 2020 to. joining me now is a chinese industrial analyst. i'm joined now by webcam from new york. thank you for joining by webcam from new york. thank you forjoining us. what do you make of this latest initiative by china? does it make sense? i think it makes a loss of sense. it was a little bit ofa a loss of sense. it was a little bit of a surprise in terms of the timing but not a total surprise. president she spoke about this at a forum earlier that this is the first time we have heard a schedule associated with the programme and there will be a ful

the annual forum for asia. we will be live later this hour.anetta markets after two days of the holiday. this is bloomberg. ♪ ♪ this is daybreak asia. i'm haidi lun in sydney. betty: i'm betty liu in new york. trading concerns are dominating the markets today as we see asian markets seem to be holding steady despite those massive declines we saw in u.s. equities and the rising treasuries. leaving risk appetite dampened, president trump stoking trade fires saying china will dismantle its barriers because it is "the right thing to do." joining us from hong kong is can long, portfolio specialist at the spring investment. a lot of rhetoric continues to ratchet up higher and higher. as an investor, what do you do? do you stand your ground? ken: we do. for us, we think there is a lot of geopolitical noise going on. anytime when markets correct, we would tend to take advantage of the situation. for us, when we look at the fundamentals, still very strong. you have chinese equities and a lot of the companies in china that are in the process of cyclical

i am yvonne man and welcome to daybreak asia. u.s. rallies rallied for a second day on the back of industry heavyweight. trade on aloser in narrower first quarter profit margin and revenue was flat without the dollars help. 7:00 p.m. in past new york. the imf sees two years of growth. seeds of already been sown. the historic meeting moves one step closer. president trump says the u.s. is already talking directly to north korea. a very good morning to you. yvonne, taking a look at the two, especially with the syria airstrikes there is a focus on earnings. let me look in the bloomberg terminal and get you up on the health of the specter of the snp. it was basically a broad rally. laggard -- the single but people will say it will be a blowout quarter. s&p companies have already been coming out there. 1% and is nowby at the highest in about a month. it seems like we are able to focus more on earnings as we see the trade side of the syrian tensions. in the last 24 hours we have been talking about u.s. sanctions on russia are still possibly

welcome to asia business report. i am china. welcome to asia business report. iam karishma china.usiness report. i am karishma vaswani. we will start with japan, where confidence amongst the country's biggest manufacturers has slipped for the first time in 1.5 years. the bank of japan's quarterly cheque of around 10,000 companies has shown a dip in sentiment —— check. this is mainly due to the strength of the yen and fears of a trade war. it will put the spotlight on prime minister shinzo abe's policies, and he has been subject to cronyism scandal, with his approval ratings falling to the lowest since he returned office since 2012. i asked oui’ returned office since 2012. i asked our correspondent if the scandal has any impact on the world's third—largest economy? any impact on the world's third-largest economy? from an economic perspective it is actually quite important. not because... most people will believe mr r they will be out of the office and then abenomics will be gone, but because japan isa abenomics will be gone, but because japan is a long business cycle. so sentiment

what about wealth in asia? off the charts. the dollar was week, stimulus -- weak, stimulus in asia.about now? here and stimulus is modest, but what about wealth in asia? we just talked about saudi arabia was raising its price of oil into asia. asian demand is doing incredibly well. oil demand in asia is growing at 750,000 barrels year-over-year right now. similar to 2011. what will happen to wealth creation? it is going up. what do they do? they buy gold, which is the core of our view of $1450. alix: coming up, one of the oil -- handful of women in the oil world will talk about her big plans. we discuss on bloomberg commodities edge. ♪ ♪ alix: i'm alix steel. this is time for what you need to know of alternative energy. want to drive an ev? you will definitely want lithium and cobalt. cobalt prices have doubled, and joining me now is claire curry, senior analyst at bloomberg new energy finance. walk me through the why of the huge price rises in those metals. claire: it is linked to ev's, demand has risen and so has hype. lithium and cobalt prices are rising for that reason. they are

asiae live from bloomberg headquarters. i am yvonne man, welcome to daybreak asia. u.s.cal weapons in syria. trump says the attacks were mission accomplished. nikki haley says washington is sending a strong message and this time, everyone will feel it. york, ity live in new is just after 7:00 p.m. on the sunday. asia-pacific markets face a pretty muted start to the week. the yen is weakening as traders take the missile strikes in stride. the boston fed president i

asia tech managing editor.will be speaking to s&p global ratings had of corporate research on the global leverage finance market and where we are. ♪ ♪ it is 10:29 in hong kong, 12: 29 in sydney. -- research shows bond investment fell last year for 12 months earlier. that was driven by a drop in chinese investment in america .rom $49 billion to $29 billion u.s. national security officials clamp down on chinese acquisitions. aheadis to push overhauling its state enterprises. the head of the agency that oversees state assets worth $26 trillion says some as so he's are fragmented and inefficient. wants tohe government support companies that are forward-looking. some of the state-owned enterprises in certain industries are two fragmented and have low efficiency. we will push for mergers in power, coal, and machinery. there is too much duplication at the moment. some companies only have a small market share. all of the mergers take place on a voluntary basis. we support companies to come together of their own free wi

welcome to daybreak asia.he top stories this friday, the returns to markets after the fears of a trade war and strike on syria abates. the best week in five. president trump mentioned the mood. he said the u.s. could rejoin the cbp. betty: and from the global headquarters i am betty liu in new york where it is after 7:00 p.m. thursday. hong kong stepped in to defend the dollar. the monetary authority makes its first currency intervention since 2005. bitcoin is back at least for a day. the biggest cryptocurrency remains near $8,000 in its biggest surge since december. ♪ betty: you know, we have been concerned over the last several weeks on geopolitical risk on trade risk. if you look at this chart, it makes it seem we may not even have to worry about downside inflation risks. this line chart shows how the fomc officials are looking at core inflation and now see pretty much zero downside risk to inflation, which then begs the question whether it is now all upside business to inflation instead of three interest r

welcome to "daybreak asia." a quiet day expected as asia enters a new quarter.ed for several markets closed for easter. a bust in china as factory shrug off the trade war. beijing prepares to answer u.s. tariffs. just after 8:00 p.m. sunday evening. confidence dented after tesla's were share month. the model free is more urgent than ever. strike a red velvet diplomatic note with a rare concert in north korea. ♪ betty: talk about k pop layer, but the fact or's are singing a nice tune here for the first quarter. the survey showed up better than expected. still looking pretty resilient for the manufacturers. still holding onto decade highest for some of these numbers. this is a breakdown here between the large and small manufacturers. you could see 24, we are still holding onto the 13 year high we have seen for these exporters up there. the outlook is still missing x -- estimates a bit. still holding at 20. it was the more resilience we saw for small manufacturing's -- manufacturers that focus on domestic companies that could be better. also with the yen as well. w

sophie: buddy, asia stocks are falling as we await asia edge -- as we await president xi jinping's responsering from japanese officials, the foreign minister saying that he plans to visit south korea from tonight. the trade minister said that the country made wto filings together information, and that it will not affect relations with china. trade is are much top of the mind this morning. if you look at the markets, the nikkei 225 is down by .3%. check in on one sector feeling the pain, retailers. some of them are leading the decline in stocks, one of them dropping after forecasting annual operating income that missed the lowest estimate. takashimaya is the company. also, phyllis amount --felissimo also dropping 3.38%. one of the worries is a tightening labor market which is raising pressure to boost spending on tech. pharma, saidn ono to be plunging as much as 3%. a last look at one of the players in sydney on the move, this company gaining 4% this morning and clamping to it april 2014 -- april, 2011 high. prices went higher on monday following the u.s. nmposing sanctions on russia and one

is their rightful place in asia pacific because alas there was asia long history in their size so their objectives are really modest compared with their capacity the world for new wealth in china and i often say this is this is the product of so far made entrepreneur school but is it not also the product of the exploitation of people at the bottom water known in china as migrants but they're not really migrants so. if you really. go to talk to these my women workers you will find quite surprisingly. over the past five to seven years they have experienced. greater increase there in the social groups china not a car society. but china is a class society. these are the homes of migrant workers people who build and service the new china. here it's not uncommon for three families to share one tiny flat. you know you would see it it's a socialist country wheezy quality but a unfortunately since the reform has started china has become one of the most unequal societies in the words the income gap is widening governments i feel have retreated some of the responsibility left the markets to takeov

as the pivot to asia the target is china. the great power game in the twenty first century it's called put petrol. for america's unchallenged dom's industry the annual prize is huge profits from almost six hundred billion dollars of military spending. once an imaginary weapon on star wars the electromagnetic gun is now reality is center thinking about these next generation in futuristic ideas and we've got scientists who have designed these and it's coming to life. and the smartest weapons made enemies as a pacific nation and the united states will play a larger and long term role in shaping this region and its future i have directed my national security team to make our presence and mission in the asia pacific a top priority in one sentence. is the u.s. already of or with china yes on the ground and in the air the winner of the nobel peace prize president barack obama has committed to trillions of dollars of to our nuclear arsenal he's committing trillions of future dollars to war in space and we need an enemy for all this m

in asia, manyover of the markets are closed for the holidays. here in the u.s., it looks like there wasn't a lot of conviction behind the trades today. we did and lower, tech stocks continuing to fall down about 115 points. the s&p lower as well as the nasdaq. the broad-based decline in technology shares that came out earlier this morning. again, not a lot of conviction to buy into the markets. the result is that investors just continue to sell. right.hat's we are already seeing evidence of it in the first few minutes of trade. the index is already weakened by about .2%, leading into that. take a look at the kiwi dollar as well. see a lot of u.s. dollar strength. we saw the markets close yesterday for may 1, labor day. including key markets of hong kong, china, and singapore. trading in new zealand just underway. the futures in australia, however, also pointing lower by about .25%. the aussie dollar showing ongoing weakness against that resurgent ringback. but get a quick look at commodities as well. we saw crude oil pushing higher again. this i

this is "bloomberg markets: asia." ♪ haidi: korea leading the asia-pacific higher, earnings underscoringilience. chinese stocks expecting to pboc cut the the reserve requirement ratio to improve funding at ranks. also, president trump says the u.s. is already speaking at a high level to north korea. a second day of robust gains when it comes to u.s. stocks, the s&p pushing through that 100-day moving average. can it be sustained? it seems the skyhigh expectations for what is anticipated to be a blowout earnings season is creating quite a bit of support when it comes to sentiment. 30 minutes away from the open. singapore, taiwan, and malaysia coming online. sophie. bounce across asian markets led higher by japan and south korea. 1.1%, the 225 adding kospi up 1.25%. japanese investors with the latest trade figures to digest. surplusnce swung to a and export and import growth less than forecast. this could be a negative for japanese stocks and shinzo abe has that dropped in import shows domestic demand is slowing, something for trump to consider during this summit. sayinghave larry kudlow s

what about wealth in asia? off the charts. the dollar was weak, stimulus in asia. what about now? in the developed markets modest, but what about wealth in asia? we just talked about saudi arabia was raising its price of oil into asia. asian demand is doing incredibly well. oil demand in asia is growing at 750,000 barrels year-over-year right now, similar to 2011. so what will happen to wealth creation in asia? it is going up. what will they do with that wealth? they buy gold, which is the core of our view of $1450. alix: jeff curry, head of commodities research at goldman sachs. handful ofone of the women in the world, sarah or between, will talk about her big plans for xto energy. ♪ alix: i'm alix steel, this is .loomberg: commodities edge time for what you need to know of alternative energy. want to drive an ev? you will definitely want lithium and cobalt. lithium up 13% in 2017, cobalt prices have doubled, and joining me now is claire curry, senior analyst at bloomberg new energy finance. claire, thanks for being here. walk me through the why of the huge price rises in those m

let's get to our asia across assets manager. will the president finally make good on his campaign promise to call china a currency manipulator? >> well, we will see. report istreasury analytical be a very report where u.s. treasury officials pour over reams of economic data and then they look at trade flows. they look at foreign exchange movement, they look at foreign exchange reserves, and then there are criteria they apply to of thene whether any u.s. trading partners are manipulating their currencies. but trump has shown that he is more interested in results than in process and if you think just a few weeks ago, the u.s. trade reported tove was have suggested tariffs on $30 billion worth of chinese goods -- imports, and trump told him go back, i want to see 50 or maybe even 60. then they came up with a different number. imagine, it is possible he tells the treasury, look, they are manipulators. i want that report to come out with the result i want. this is not typically just directed at china, right? what other countries migh

tv . ♪ this is "bloomberg markets: asia."e counting down to the opening of markets in hong kong. rishaad, what are you watching and how is it looking? rishaad: i am looking at the hawaii of china, that is how it is being presented at the moment . it looks like we will have a little bit of an uplift after the minor falls we saw on friday. moving to one of those constituents of the final island, perhaps having some gaming taking place on it. we have these casino stocks taking a hit. any gaining might be taking revenue away from them. on top of that, he has announced measures to try to stop these gas guzzlers being sold on the island and to go towards electric vehicles. developers would benefit from any additional building of casinos. that and more a bit later in the program. ♪ welcome to the xfinity store. i can tell you about... streaming the most free tv shows and movies on the go. yeah, and... xfinity internet. it's so fast! and you can save by... by getting up to 5 mobile lines included. whoa, you're good. i'm just getting

with that we end this edition of asia business report.us. don‘t forget to follow us on twitter. bye for now. the top stories this hour: president trump says a campaign of maximum pressure will continue on north korea until it agrees to complete nuclear disarmament. cuba prepares for the end of the casto era as members of the national assembly name the next president, miguel diaz—canel. the house of lords has inflicted a first defeat on the government‘s main brexit legislation by a majority of over 100 votes. an alliance of labour, lib dems, crossbench peers and some conservatives voted to retain the option of a customs union with the eu. the vote prompted claims from brexit supporters that this was an attempt to undermine the referendum result. ministers say they will try to reverse the vote at a later stage, as our deputy political editor, john pienaar, reports. brexit isn‘t always bad tempered, but it is still a struggle, and today the opposing sides in the lords up were up for it. many peers dislike brexit and today it showed, in a pus

welcome to asia business report.msun electronics which is forecasting a 57% jump in its operating profits of the year to nearly 15 billion dollars. the actual results will be announced later this month. samsung did not elaborate on the guidance, many a nalyst we‘ re elaborate on the guidance, many analyst we're attribute the jump to strong demand for its memory chips potentially how that offsetting and potentially how that offsetting the slowdown in the smartphone sales. earlier i asked a technology a nalyst sales. earlier i asked a technology analyst how long samsung can keep relying on its chips division for growth. 2018 is still going to be a good market. there has been steady price increase, if you look at memory for example, which is the biggest. some of the other computers have not scaled to the capacity as much as samsung, they have been aggressive. 2018 onwards and 2019 week expect the growth to definitely decline in the future. obviously you got the business but you have the management and obviously samsung

and in europe, and less than 10% in asia.n 10% consumer base in asia will increase spotify 100% in user base and revenue. so it has a lot of headway to grow, in asia specifically. rishaad: i know it is not like netflix, but if we have a look at the possibility that they could go into content creation, how important would such a move be? in the cards,t is very much possible already. you are seeing new artists being discovered on spotify itself, without a record label. i think that spotify is edging toward becoming its own content creation powerhouse, and it could be a juggernaut, just like netflix is in the space. so, it is a very serious possibility, and it will be the next level of growth for spotify. tencent has a 9% stake. what you think they do with it, and how important has it been for this company overall? a great partner for asia, and for spotify at large. they will help propel the growth in china, and the user base, so i think they are a long-term partner. if you look at the financials, they are locked up for three ye

yvonne: let's look at the asia set up this friday morning.e are seeing upside in new zealand, up 0.3%. .72kiwi, downside 0.1% at 65. dollar catching up. heading to the sydney open, and -- we have not been able to break away to the 78 handle. higher by three basis points. the open in japan and korea, we are seeing perhaps some downside when it comes to stocks. after the nikkei to do five did not generate a lot of gains yesterday. dollar-yen, 107.41. let's get you caught up with first word news. told president trump has been informed he is not the target of any part of special counsel robert mueller's russia investigation. rod rosenstein told the president he is not involved in the inquiry into his longtime lawyer michael:. -- michael cohen. there has been no collusion, they will not find any collusion, it does not exist. as far as the two gentleman you told me about, they've been saying i will get rid of them for the last three months, four months, five months, and they are still here. >> south korean president moon jae-in says the north dropp

welcome to daybreak: asia. the u.s.ina tariff list in the targets are tech products highly prized in beijing. the stage set for a global trade war. china says it opposes the move and will hit back in kind. expecting dramatic rise in production this year, and ramping up pressure on mexico. the risk aversion has dissipated a little bit here. that's what we saw in the session. the spotify ipo looked pretty successful so far. and reports from the bloomberg team that the white house is not really planning any kind of regulation. asia will get interesting other on chinese imports. comments coming from the chinese side but we need more detail before we see any real serious reaction. you are seeing markets in asia and just a touch higher. whatll continue to watch develops throughout the asian trading session. let's get to first word news. we have more. >> a woman shot and wounded googleeople at headquarters before killing herself. no motive has been given for the shooting and one man left with critical injuries. will says secur

welcome to "daybreak asia."hetop stories this monday, imf warns rising protectionism threatens the global economy. things are still good but the risks are out there. stephen mnuchin hits on a trade truth with china. beijing says they welcome a chance to resolve their spat. kathleen: just past 8:00 a.m. hearing tokyo. -- here in tokyo. president trump dials back on the optimism. the white house says opec is keeping the oil price artificially high. they say it is not true and the market will decide. ♪ kathleen: what a way to start the week. we certainly closed the week looking at trade. imf, central bankers saying it will be more deflationary than inflationary if we had a trade war. oil prices rising again. donald trump lashing out. and of course it did hit the stock market, and bonds back up nearly to 3% now. yvonne: you can see we had a close on the dow jones. theleen: let me run through real quick. s&p 500 losing nearly 1%. that was another week where we had three up days, two down days. people are really wonde

is bloomberg markets: asia." rishaad: donald trump pesek lawyer has sent the equities into a tailspin. awry in the last few minutes of trading. what does the asia-pacific hold in store. >> this is any can of recovery we have had over the last few months. is excitedi jinping to come out in the next 15 minutes. he is looking for any hint of retaliation on trade. we are seeing this kind of reluctance to hold onto gains in asia. >> the overall lay of the land. the futures are easing up somewhat. asian equities are under pressure. korean stocks down 0.9%. bycks in malaysia are off 0.2% ahead of the election commission announcing the polling data. over in taiwan, stocks are off by 0.1%. we did get some data. taiwan will also be wasting inflation data later this afternoon. march sales of this tuesday. in singapore, the sti is lower by one third of a percent. by retailbe preceded data and first quarter gdp numbers. goldman says that the strong underperformance in philippine stocks over the past six months is the main rea

asia, and in asia, in one of these routes when it comes to government paper. bonds in seven months just yesterday. the central bank trying to put a floor in the currency for two months. seems like they cannot do much about it. at what point do you think central banks are at risk of defending their currencies in vain given the rising dollar? >> a very good point. i put forward the idea that a barometer of risk is the dollar. the dollar -- if the dollar meaningfully strengthens, that is a bad sign for the world. usually that means risk premiums are rising, the dollar becomes a safe haven. u.s. interest rates are destabilizing the world financial outlook. people are fairly complacent about risks around the world, emerging markets are safe havens, indonesia, india, brazil in some sense. central banks are cutting rates in these countries. currencies that are going up our stable. low-vol worldign, is not correct and how things are going to work out. yvonne: are we hitting them to inflection point where we should be looking outside local debt in e.m.? >> i don't thin

these of the age of, -- asia, what is the coupling how do your -- vis-a-vis asia, what is the couplingliquidity is driving everything up in concert. it is going away. we are looking more at different markets, opportunities. welle is pairing along as -- powering along as well. it is not involved in a trade fight with china but europe through germany has trade linkages with china as well. a lot of weakness in china can go through this. thate short-term, some of correlation is breaking down, but if you really hit a big pothole, then correlations go back to one again. it is good, correlation breaking down, giving investors an opportunity to make money and get rewarded for the risks they are taking. betty: it does when you see those correlations breakdown. this week we will get data points are we will get the fed minutes coming out. are you looking at those minutes in particular for any clues on interest rates or where the fed is thinking in terms of inflation? sean: definitely. i think powell taking over, they are more hawkish, and the u.s. economy continues to strengthen. it is doing well

, -- asia.om. what was the most shocking thing to come out of this report? highest among the nonfinancial companies last year and even higher than softbank or some chinese giants like petrochina. earnings. why 13 billion assets in such a short time. to'sad: cash level enough best to cover's -- cover short-term debt? >> no. the cash level down around more than 10%. this level will not be able to cover the short-term debt. it will not be a huge problem if the creditor trust you. --n the creditors doubt you that is a problem. it is -- we do not know what they want to do with deutsche bank going forward. now, i thinkning they want to get rid of their property first. the property investment is not really encouraged are the government. is, they want to sell 3rd avenue tower. enter into high price. when not easy to sell you're price level is that high. no buyers want to come in and say i want to talk price. sentiment kind of it -- turned a bit. wanted to solve the ate look the push to go public. ♪ >> s

welcome to asia business report. chinese president xijinping welcome to asia business report. chinese president xi jinping takes centre stage later today as he addresses world leaders. and of course, we will be bringing you live the report, rather, the speech that president xi will be giving to world leaders in about an hour's time. and staying with china, we spoke to a correspondent who talked about that much anticipated speech. he is in a difficult position of course, because our lot is expected from him. they have promised much in terms of opening up. his number two man was in davos a few weeks ago telling them china was going to surprise the world, and so this is china's davos. expectations are somewhere higher, although i think he is probably going to disappoint. disappoint? so we not expecting measures about opening up the market to more foreign investors?” measures about opening up the market to more foreign investors? i think thatis to more foreign investors? i think that is exactly what is going to do. china has always welcomed investment. the problem and what compani

asia despite a flat finish on wall street. unpack what alphabet revealed in terms of how the company is doing. alphabet, the owner of google and youtube, had a good start to year. net profit jumped 73%, compared to the same period last year, to $9.4 billion in the first three months of 2018. this was, in large part, due to higher advertising income from online ads. but here's a very interesting fact — the company's effective tax rate dropped from 20% in the first quarter of 2017 to 11% this quarter. this was due in part to a new accounting method for unrealised gains in alphabet‘s investments in start—ups such as uber and airbnb, as well as president trumps tax reforms. with me is ivan mazour, chief executive of ometria, which is a company that helps retailers better understand their customers to increase their sales. good to see you. you have been looking at all of this and taking into account the way google is changing how it reports its results. talk us through the changes and the impact. the interesting thing about the cha

welcome to "daybreak asia."acific set to follow wall street, with industrials and tech under pressure. the 10 year yield hitting 3%. bellwether caterpillar fell in the first quarter, described as a high watermark. betty: from bloomberg's global headquarters i am betty liu, where it is just after 7:00 p.m. tuesday evening. evening -- aluminum seeing the biggest loss in three decades. talking trade, steve mnuchin preparing to head the china for renegotiations on imbalances in tariffs. ♪ betty: as we had predicted that we would be talking about the 3% in yields in trade. that is spooking the equity markets. not just investors, but u.s. consumers. chart,ook at this gtv which shows you how consumer sentiment is on the board on stocks. and as you can see, rapidly declining, showing on this line chart, the number, the percentage of u.s. consumers who think the stock market will fall within the next 12 months. rapidly falling into the red. yvonne: several factors bringing markets down. we take a look at what we saw in t

and we are positive about asia.s of fundraising the middle class increasing with ,rowth and savings increasing with many of the institutions in the region allocating more and more of the portfolios to alternatives, it presents a great opportunity for oaktree. on the investment side, you're correct. and loans tripling over to $1 trillion. throughouthe ground the region, this is the 20th anniversary of doing business with asia. we have seven offices here. and we think that along the way, the economy has developed and there are pockets of opportunity. we plan to be well positioned to take advantage. yvonne: j, we appreciate the time. ceo of a tree capital and will be at the bloomberg hong kong investor conference for big money, big ideas. running a panelist in a couple hours. and later on this week, as well as the event coming up earlier as well. check it out at live go. this is bloomberg. ♪ yvonne: this is daybreak asia. i'm yvonne man in hong kong. betty: i'm betty liu in new york. we had over to bloomberg markets: a