welcome to asia business report, i am sharanjit welcome to asia business report, i am shara njit leylto asia business report, i am sharanjit leyl. washington has granted an extension for businesses to deal with blacklisted telecoms giant huawei. it comes as regular does continue to work and rules that the front administration says pose national security risks. the bbc‘s mira hussein has the latest from new york. huawei has been one of the most volatile flashpoints between the us and china. the tax giant has long been viewed with suspicion in america. its status as a supplier of leading network technology as well as its perceived business to the chinese government has fuelled theories its equipment is or could be used for espionage. so, a few people were surprised in may when the trump administration chose to ban american companies from doing business with two. but the potential damage to american interests has the president to delay in enforcing that band. a series of 90 day licenses for huawei to keep buying us supplies has been issued. mr trump has also failed so hard to enforce a r

shery ahn: welcome to "daybreak asia."aidi: our top stories this wednesday, president trump puts pressure on china, warning of substantial new tariffs if trade talks failed to produce a favorable deal. hong kong braces for another day of chaos and unrest. police say they are on the brink of a total breakdown. and technical glitches marred the launch of disney's new streaming service. to breakingirst, news from south korea. the jobless rate coming in at 3.5%. this is in line with estimates but slightly higher than the previous month. add 419 thousand jobs in october, more than they did in september, which was already quite a strong job scheme number. pe number. that is helping to offset some losses,anufacturing job not to mention declines in retail employment. in south korea they have been really supported by fiscal policy. in budget is helping growth the public sector. right now, the jobless rate coming in at 3.5% for the month of october. let's see how we are doing in the markets in asia. overnight,d messages hearing from

they cover the regions of europe, asia-pacific, africa, near east asia and the northern hemisphere. at these centers they aim to support defense, strategy objectives and policy prioriti priorities. they are pretty unique academic forums as well aso to foster strong international networks of international but security leaders. this will give you a basic comparison of what we are talking about here specifics. the asia-pacific center for security studies is actually fully entitled the daniel k [inaudible] asia pacific academic study. it was established in hawaii in 1995 but it's a dod institution that provides a forum where current and future military and civilian leaders from the end of pacific gather to address regional and global security issues and enhance security cooperation through programs of executive education, professional exchange and building relationships ofdi trut and confidence. currently over 30 countries sent participants to engage and learn and build those relationships. the ted stevens arctic security study sensor which is what we seek to namee this arctic center wi

africa why is asia as a region blighted so much by this quickly. i think the even though the facts may suggest that 7000000 people a day across the world and in fact 1100000 of those in india if you walk down the streets of delhi or you know which is the most impacted you will not find too many people actually aware of this you will find that most people walk around without a mask so we're not yet there where beijing got to when it came to you know people's awareness and everybody wearing masks and walking around and sort of you know putting the government under siege when it comes to acting on this in improving the quality of laves so that realisation has not dawned on them and i think that is the most fundamental part of being able to address this issue because that has to be a public demand and an outcry saying that i want better quality and that's just not happened because there are a host of issues that governments need to resolve and we focus on infrastructure creation and jobs and economic growth but on the way and we've just basically let t

when it comes understand what's happening in the pacific, particularly in the asia-pacifi asia-pacific, i think there are two figures that helped me a lot to frame the question and possible answer. one is of course the late leader, he was not wide right n everything that he got china very much like any was a bridge between the west and east especially comes to engagement with china and the other one is my favorite philosopher walter. one of the observations li kwan made which made a huge impression on me was the rise of china especially for -- is so dramatic that is not going to only require tactical balance of power adjustment it's going to change the system itself because of the sheer size and influence in the vision of china. and we feel that very much in southeast asia, that this is not just another right-wing power but this is going to change the rules of the game. we're beginning to feel that now as we enter what we can call a strategic inter-agency in east asia. walter talk to her every fascism is a failure of revolution. i'm not saying china is a fascist but what i'm trying to

if the us is defined in the asia—pacific only by trade friction, thatis asia—pacific only by trade frictionimits how other countries connect with the us. i don't think trade friction or what the president is doing vis—a—vis china is necessarily bad, i would probably do it differently. but the point is don't be 100% a bad cop. have a positive agenda as well. and thatis have a positive agenda as well. and that is where i think the us can probably be faulted, that there is no positive agenda, there are no trade initiatives under way. in the us is perceived only through the lens of trade friction. and so does that then let china step into that void? because china now appears to be exerting a lot more influence, especially as this rcep agreement is signed in february. i think that's exactly the point, that china is a bit of a role reversal. china is the one with the initiative, with its best foot forward. there is rcep, there is also belt and road initiative. so china is spreading its wings and —— wings and looking for better connectivity when the united states is interested in saying only what

, asia, helloworld, glad you can join us good morning, asia, helloworld, glad you canjoin us for goodning, asia, helloworld, glad you can join us for another action packed edition of asia business report, i am packed edition of asia business report, iam rico packed edition of asia business report, i am rico hizon, packed edition of asia business report, iam rico hizon, starting off with the trade war because the two economic superpowers appear to be inching towards a endgame and on wall street, investors are pleased with the latest signs of progress with the latest signs of progress with all of the major benchmarks surging to record highs. asia is in positive territory as well. as you can see right now on your screens, the neck a 225 gained 0.6%. the trade war has gone on for nearly two yea rs trade war has gone on for nearly two years but dating announced on thursday that both sides have agreed to cancel "some" of the tariffs imposed in phases along a timetable both can agree on. translation: the trade was started with tariffs and should end with the cancellation of tariffs. regardin

or south asia. the number of japanese citizens living in china has been decreasing, from 150,000 in 2012 to 124,000 in 2017. meanwhile, the number of japanese in the united states has increased from 410,000 in 2012 to 426,000 in 2017. blue line is the japanese staying in the united states. and the red line is japanese staying in china. therefore, given that, for japan, china is not trustworthy, and china is going to be loser for japan, strong u.s. policy , toward china is welcome. and japan is right to be on the side of the united states. thank you very much. [applause] >> i think you will agree we had four terrific presentations. they ran a little bit over our targeted time, but that is ok. as i understand, we have until 1:30 as a minimum, but maybe could slip over if there are urgent comments. ground rules are simple. i would ask you, if you have a comment, a question, to identify yourself and your affiliation please, and to direct your comment or question to one or more panelist. i would like to

this is where coming from southeast asia, i'm also slightly critical of us aian. i feel we could do a much better job in ensuring we negotiate a great power relationship with much more prerogativeness and willingness which we're not doing. to defend, because i tend to get misunderstood on this issue, it has achieved a lot. if you're familiar with southeast asian geopolitics, in the 1960's, for instance, controversy was the name of the game. ar among core countries was almost inevitable in the eyes of some people. i remember going to the wikileaks cable and in one of the cables i saw something interesting that a senior administration in malaysia asked a foreign minister to talk to britain for britain to talk to kissinger, for kissinger to talk to nixon, for nixon to talk to marcus, the dictator of the philippines back then, not to invade malaysia over this issue. so in the late 1960's the question of war was very much in the air. 50 years forward, the notion of war or even the threat of use of war among southeast asiaia -- asian countries is almost unthinkable. tha

welcome to daybreak asia. paul: our top stories this monday, hong kong police say they are dispersing and arresting protesters after a dramatic standoff but deny they are staging a raid. u.s. and china hold more trade talks as the edge towards a deal. pboc warns of challenges ahead and warns of a slowing economy. arabiasouth -- saudi lowers its target for saudi aramco ipo, but it is still expected to be one of the biggest in history. australian markets have kicked off trading. let's turn to sophie for what to watch. sophie: aussie shares are slightly higher by about .1% after a two-day gain. 50 points shy of a record high we saw back in july. altogether we are setting up for a mix to start potentially an agent given that hong kong remains a point of concern as the city faces yet another week of potential disruption. nikkei futures in chicago swing to the downside this morning. iecking on currency moves, want to highlight the pound is gaining ground early. this, after conservatives pledged to back boris johnson

welcome to daybreak asia.monday, china promises to step up the fight against ip theft in a bid to break the trade war logjam. it has been a major issue for u.s. negotiators. more pressure on westpac as the fallout from money laundering

you look -- let's start by looking around asia.ou're looking for alternatives, do you see markets where there is value rather than in a sense, they have gone up a lot. i do not want to load up. if anything, i went to pervak. want to pervak. >> we do still see a value in asia. it is one of those markets we are looking to. if we see short-term negative news flow or headwinds, in china, we are seeing that. your previous guest was speaking about hong kong tensions. we are seeing an impact on the markets. we are also seeing some negative news flow around growth. we saw the reason gdp number for china came in at the low age of the pboc's target. if we look at 6% on the global scale, it is an attractive growth rate. here in australia, the gdp figure is 1.4%. china is still growing quite well. we do still see opportunity for investment. we want to be selective. if we can find those companies that are more skewed towards the future growth of economy, being the service led growth, we are happy to invest. on a viewbase this that the trade war

com for its slash asia. a valley in remote kyrgyzstan is one of the world's most polluted regions iranian dumps from soviet era mining near the town of my loose to line the mountain slopes along the local river environmentalists warn thousands of tons of radioactive waste are one landslide away from contaminating the water supply of millions of people. a toxic legacy left behind from the soviet era. the town of my lucy in the mountains close to outsiders founded just after world war 2 it was the site of a secret uranium mining program for 20 years miners extracted over 10000000 tons of uranium from the mountains surrounding the town providing much of the fuel for the soviet union's 1st nuclear weapons and atomic power plants. the resulting radioactive waste millions of tonnes of so-called uranium tailings was buried around the town 50 years on old protective dams a crumbling and people have started raising their cattle on what was once a no go zone. i've been working here for 35 years when we came here urani

to the global economy a new report emerging economies in asia will bear the brunt of the climate. also on the show there an inescapable science on germany's landscapes as the country reached peak winter about. this is this is asia berlin welcome the chief of the international monetary fund all that trade tensions and resulting uncertainties could shave off nearly one percent of global gross domestic product by next year the global economy is in a synchronise downturn krista leno said of the round table discussion with chinese premier league 90 percent of the world's g.d.p. is slowing with last year well back chief david urged china to further open its economy reduce state subsidies and allow the market to play a more decisive role to help stem the doctor. now the e.u. singapore free trade agreement goes into effect today now that the long awaited bilateral deal is operational the partners will begin to phase out trade. it's the e.u.'s 1st trade agreement with a member of the association of southeast asian nations or group of countries in the in the region that have teamed up to pr

we will have details. ♪ asia."ry: let's get a check of the business flash headlines. westpac is facing more pressure. investors are urged to go against the report in the reelection of tucows keyboard members. board members. ant financial is said to be raising funds to invest in startups. on digitalcus payments and online finance growth to strengthen mobile internet market positions. players such as paytm, and has invested in 60 companies. shery: one of china's biggest drink companies is weighing an ipo that could raise a billion u.s. dollars. bloomberg has been told they are working with advisors for the share sale. the offering could happen as soon as next year. they make bottled water, juice, tea, and soft drinks. last year the company scrapped a decade-long plan for an a-shares listing in china. paul: barely 24 hours after uber's u.k. future was put into doubt. has startedola signing up drivers in london with the intention of launching a ride-hailing service within weeks. -- wanted to open in lund up london befo

we are seeing ads in australia and spreading into asia.xample of an american cultural tradition turning into something more global? yes, we are seeing it spread across many geographies, including my own and yours, paul, in australia. you only have to walk down high street and see the number of black friday signs in front of windows at retail stores. i think it is broader than a u.s. cultural phenomenon. it is in, not -- it is an amazon phenomenon, in that that they have colonized black friday around the world. we had it in australia in 2017. it is our observation that black friday has grown in prominence as a retail sales event since amazon entered. that is true of many other geographies where amazon has a large presence. paul: as i was saying in the set up, what do these enormous sales days mean for the retail sector? do consumers end up buying more as a result, or do the purchases get spread out over a longer time period? melanie: it is hard to say. we are seeing some sales get pulled forward, particularly in categories like consumer ele

this is bloomberg. ♪ ♪ >> this is bloomberg daybreak: asia.en in let's get a quick check of the business flash headlines. rio tinto faces more problems. they have been the set by delays. said court has upheld claims by an environmental group that mongolia did not follow process on the agreement. -- have artieady warned it may cost $2 billion more than forecast. reliance industries has eclipsed bp. indian conglomerate market cap was $133 billion at the close on tuesday over taking bps $132 billion. they plan to cut the company's net debt to zero in 18 months. >> asian stocks look set to snap. e-minis our office much is two point -- percent. the senate passed its version of a bill supporting protesters in hong kong. this week, it is seen a solid gain up 3% since friday making it the world's best performer in that time with data indicating that short covering is helping to drive this rally. bargain watchers, don't expect the rally to last too long. even beaten down valuations are not proving lower -- low enough for some. he sold his stocks in may

asia's markets have just open for trade. shery: i am shery ahn. welcome to daybreak asia.ries this thursday, a the u.s. ruled out. asia and europe are under consideration. qualcomm has a robust forecast suggesting demands of smartphones may be picking up after a slump. my judgment in investments was not right so i regret in many ways. >> admitting mistakes. wework andbets of uber could see softbank go bust. online, when it comes .outh korea coming back from japanese stocks under pressure amid signs of overheating. trading steady, below 1.09. the bank does not see big moves to the currency unless china confirms the delay. on negative news could see a push for the yen below 108. toyota among companies to report today. we will get reaction to the as itof kumo industrial is receiving bids for its stake in an airline. we have the cost be under pressure. the korean won also trading back against the greenback. checking in on the aussie gained.shares have hardy is also among the best performers after raising guidance. let's check in on bonds, checking in on the treasury, we have t

this is d w news asia coming up that you and would like malaria eradicated in southeast asia by 2030 but is that more aspirational than actual. and the growing climate consciousness in many muslim countries is leading to what some call the cult islam. plus the super seen years of japan never give up what you love doing please visit this 10000 strong. i'm melissa chan you're watching the news asia thank you for joining us we take a look at southeast asia and its fight against diseases such as malaria and dengue fever along with its efforts to be polio free consider the mosquito it's probably the deadliest animal for humans not the tiger or shark 1600000000 people in the region are at risk and the w.h.o. says there were 1240000 cases of malaria in 2017 the latest figures but new drug resistant versions have emerged in cambodia laos thailand and vietnam southeast asia has also been hit with a dengue fever outbreak this year this is. the teens saw the biggest spike 360000 cases but neighboring countries have felt the impact now the region has largely been polio free the last 5 years but

are opened and asia.he kospi trading upside. up 1%. really tracking the gains we saw on wall street. the s&p 500 gaining a fresh record high. japan will have to play catch up tomorrow. they are closed for culture day. ozzie stocks up by 4/10 of 1% ahead of the rba decision. retail sales coming in worse than expected. trading new zealand also seeing gains of just over .5%. shery: let's check in on futures. u.s. futures gaining ground, up 1/10 of 1% after u.s. markets rose to fresh highs. we have energy leading the gains in the past session as we have oil jumping the most in six weeks. wti and brent at the moment under pressure. take a look at china futures. up .5%. this after those better than expected chinese manufacturing data we got last week. that is it from "daybreak: asia." standby for bloomberg markets: the china open. this is bloomberg. ♪ this is bloomberg. ♪ here, it all starts with a simple... hello! -hi! how can i help? a data plan for everyone. everyone? everyone. let's send to everyone! [ came

southeast asia, china, greater asia, that's already a lot of momentum.ry: do businesses like you, such a large conglomerate, you are basically in every sector. what we arected by seeing in the world of trade and tech between the u.s. and china? to downplaytrying it in a way. does it affect you at all? >> very much so. on the trade side, less. we have trade with europe, china, the u.s.. i don't think that has fallen into that. the technology shift will have an effect. it is unfortunate. i'm a great believer in global standards, but we have to adjust to a changing landscape. i believe if there is this shift taking place between china centric technology and u.s. western technology, it will affect all of us. like everything in life, there atl be a significant effect a time when all of us want technology to become holistic and standardized. >> how would it affect you in particular? >> we are a large technology player in the philippines, one of the largest telecommunications players. we have a banking industry that relies on technology. we have been using tech

i am now joined by two fans who live here in asia to harry andjim.re not alive the last time they unfortunately, do you think there is a chance for england to win tomorrow and why was to mark if england play like they did against new zealand they will be a difficult team to beat. it was a impressive display of rugby and i would like to see the game. england are the overwhelming favourites. a universe that they have already played their game of the tournament last week and will not have it in them tomorrow? i don't think that will be the case but i am hopeful. jim, you came here for the quarter—finals and semifinals to do expect england to make it this far? ido expect england to make it this far? i do believe they had the performance in them. we only came up for the semifinals we were swept up in it last week and instead of coming back to singapore last weekend we remained an extra weekend for the finals. captivated to be here and to experience at all to japan does have a rugby tradition. they had a great world cup last time around but this is the fir

asia's major markets have opened for trade.k: asia." ♪ paul: our top stories, japan ready to embrace a stimulus program as inflation remained stuck in a rut. the economy being hammered by the trade war. markets await the decision. yvonne: the world's biggest auto market hits the brakes. we will see how japan is beginning to slow down in china. happy friday. we are taking a look at markets. we are wrapping up the trading month in a slightly positive note. the markets in japan open up here. a pretty good month. three months of solid gains in asia pacific at december looks to be a good one if you look at -- december is usually a good month when it comes to asian equities. it is quiet with u.s. markets closed for the thanksgiving break. are quite light. these moves are magnified a little bit given the low volume. south korea now. we have data coming out from japan and south korea. industrial production numbers from both countries not looking good. quite sizable misses. a lot of questions on what the be ok is going to do. economists

plenty more to come on "daybreak asia." this is bloomberg. ♪ shery: this is "daybreak asia."in new york. paul: i am paul allen in sydney. let's check in on westpac now, after news the ceo has agreed to resign. monday will be his last day. westpac shares rising on this news, up 1.7% right now. that brings to an end for straight days of declines which saw westpac lose 8% of its value. the lender was accused of committing the biggest violation of financial laws in australian history. emily cadman has the latest developments. days, brian looked keen to hang on and repair the damage but he came under all sorts of pressure. when the scale of these breaches occurs, most of it, though not all of it, it's very difficult for them not to take responsibility, especially when there's explicit questions for senior management in the legal case. soon ande or is going now, the focus will be on what westpac does to repair itself. this is australia's oldest bank. it has a venerable institution. it had a royal commission into the industry. was a stephink this forward. a long road to come. shery:

i think the emergence of consumer markets in asia, china, and the rest of asia are forcing people to put their supply chains closer to the consumer markets. there are long-term shifts and buying patterns in the underlying markets. there is the tactical changes taking place as a consequence of trade attention. that is definitely happening as well -- trade tension. that is definitely happening as well. inhink shifting production china are closer to the u.s., great in theory, but in practice, the production capacity of china is immense. the logistics capability of china is superb and it's hard to replicate that anywhere else in the world. i think you also have to face reality. china is an extremely efficient and substantial producer and it is hard to shift that overnight. ceo -- noelinn, the quinn, the ceo of hsbc. joining us now is wouter sturkenboom, chief investment ac and att for ap northern trust asset management. i find it interesting that henry kissinger called it the foothills of a new cold war if left unchecked. he refers to a minor crisis which could be mastered. he sort of se

hello, and welcome to asia business report. i'm sharanjit leyl. welcome to asia business report. njit leyl. we welcome to asia business report. i'm sharanjit leyl. we begin with uber because the rolled hailing doesn't ride hailing firm missed its expectations for monthly active users. while street investors are pleased with the numbers with shares following 5% in extended trading. this mirror has seen has more from new york. does make filing. i think the biggest headline now is over $1 billion in losses for the quarter. that is a huge amount of money that the company has lost in the last three months. and if you look at the same time last year, we saw that that number is coming in at less than $1 billion was pretty staggering. so this is eye watering. and at losses actually despite the fa ct and at losses actually despite the fact that we see that people are using uber, there are 30% more people using the site, which is really pretty significant. and we arejust really pretty significant. and we are just talking the ride really pretty significant. and we arejust talking the ride h

s latest largest trading partners in south east asia now let's take a closer look at the matter with kevin haydn he's with the association of german chambres of industry and commerce and joins us in the studio now kevin this is the 1st race of the u.s. planes with member why singapore singapore is a very small country if you look at the size of the population but in trade for whom it's pretty significant for german companies it's roughly $15000000000.00 euros that we trade with singapore every year it's you can compare this to canada i was just slightly bigger country and so it is pretty significant there also around 1600 german companies in singapore and they use it as a hub for other countries in asia so it's pretty important but i'm a company which which sectors are we talking about that will profit from this deal the most well this already a lot of trade between germany and singapore as specially cars machinery but also renewable energies or sector all medical devices for example they will all benefit from the open market and from for trade. in times of a us president that is rea

what is the case for asia tech? a bit more protected from -- you don't have facebook in china. competition from google is -- for google is limited. the population in asia is probably a lot more addicted to smartphones and more tech savvy. that gives them a sort of larger market to play with. a lot of them have higher margins. there's probably less pressure from the markets -- from the government. you see stuff in the u.s., are we going to break up the tech companies, have more regulations? it is not going in the same direction in asia. we like the u.s. tech sector as well. there is of positives there, but margins -- there's lots of positives there. anna: are there other ways you are thinking of playing the trade story at the moment? where do we look for exposure at this point? goldman sachs has been talking about liking the chinese currency at this point because they see that as a beneficiary. what do you expect? shanti: broadly, we are staying in equities at brown shipley. we think equities will deliver returns in

focused on southeast asia.hed in malaysia three months ago and already we have nearly a quarter of a million people registering and using the services. singapore, hong kong, indonesia our next on the launch role of, -- rollout, so it will be launched pretty universally across our most -- most of our countries and we are pretty excited about doing something that can bring value to consumers, but ultimately act as a segue to demonstrate to them the value of insuring their health and ultimately their life. juliette: the rising middle class is under pending a lot of growth -- underpinning a lot of growth, not just in terms of health, but what about the aging population. nick: that is a massive issue, actually, for governments and individuals. 50 years ago, average life expectancy was 52. look forward to today and the average life expectancy is 78. people are retiring and having to support themselves for many years in retirement and there are no obvious product across asia that allow people to withdraw -- drawdown o

more to come in daybreak asia. this is bloomberg. ♪ shery: this is daybreak asia.rk. haidi: i'm haidi stride nods in sydney. the ongoing hong kong protests have forced cafe -- cathay pacific to issue a second morning. it is continuing to struggle with the slumping number of travelers. have resultsnd will be lower than the first, using language that is more pessimistic than last month. shery: the unrest in hong kong has also hit canada group. shares fell the most since august. they share the protests are hurting business. redemptionres had global revenue rising within 28% to 228 million u.s. dollars. haidi: japan's leading messaging platform is in talks with the former yahoo! japan about forming their operations. line is controlled by neighbor corp.. climbed 21% this year in tokyo. ze holdings are gaining --z holdings gaining 40% in that time. we are seeing line, unchanged at the moment. seeing an upside of 15% as we get this news softbank is considering a plan to consolidate the yahoo! japan internet business. shery: take a look at the markets trading at the moment

good morning, asia. hello, world. thank you forjoining us for asia business report.'s get things going. in hong kong, shares in alibaba have started trading and the sale could raise at least 11 billion us dollars. many questions about the sale, not least the timing and there is so much unrest in the territory. joining me now is our asia tech correspondent karishma vaswani. 176 hong kong dollars is the listed price and we have seen itjump 8%, underlying how much interest and appetite there has been for this stop, particularly in mainland china. the reason why this share sale is significant. it gives that opportunity to mom—and—pop retail investors in mainland china to bind toa investors in mainland china to bind to a company they know really well. this is a company that makes two—thirds of its revenue from the chinese market and in a way, it's coming home, as jack ma once said because in 2014, they listed in the us before they listed in china but the timing is hardly ideal. why not? we talked about this on the programme, political protests, petrol—bombs, the backdrop

asia was a mixed session. fromcomes as support congress for protesters, kids prospects of a trade deal. we are also looking at bonds edging higher. beijing's chief negotiators says he is cautiously optimistic after a phase one trade deal. let's get straight to first word news in new york city. >> rudy giuliani and donald trump demanded a quid quo pro from ukraine. is astunning admission damaging testimony for president trump. he went on to say giuliani was holding up a white house meeting unless ukraine announced investigations. the latest debate, democrats focused on president trump and largely avoided fights. there were differences over climate change and health care, but candidates were fairly united on foreign policy and race relations. unity, to come on the impeachment hearings. on the impeachment hearings. china's vice premier is optimistic and confident of an agreement but confused about u.s. demands. president trump has threatened more tariffs. u.k., the labour party he urging voters to take down billi

morehead on "daybreak asia."as been hit with a tax bill in new jersey. it owes the state $615 million in unemployed then -- unemployment and disability insurance charges for miss classifying drivers as independent contractors. the bill goes back for years and includes about $120 million in interest and penalties. hoople -- uber will challenge the ruling. it considers its drivers independent contractors. of 660 eightloss dollars -- $668 million for syntel, the first time sentelle has reported a quarterly loss, which is worth $490 million u.s.. the ceo of singtel says we global demand has hurt and expects conditions to continue into 2020. sophie: ocbc is said to have decided against making a bid for permata. the ownership company has a market value of $2.4 billion. shery: over the next hour, "daybreak asia." the market open is next. this is bloomberg. ♪ >> good evening from bloomberg's global headquarters. >> asian markets have just open for trade. welcome to daybreak: asia. shery: hong kong nears the end of a chao

good morning, asia. hello, world. it's a wednesday.you could join us for another action packed mid week edition of asia business report. i'm rico hizon. we start the programme with the ongoing us— china trade conflict, because wall street shares have edged up to more record highs overnight, as investors look past some weak economic data to focus on president trump saying that the world's two biggest economies are close to an agreement on the first phase of a deal. the bbc‘s vivian nunis has more from new york. donald trump said on tuesday the united states was in the final throes of its push to reach a trade deal with china. the president said he had a very good relationship with china's president, xijinping, very good relationship with china's president, xi jinping, and very good relationship with china's president, xijinping, and the trade negotiations between washington and beijing are going very well. that seems to have been enough to keep wall street happy. for the second day ina wall street happy. for the second day in a row, the

alsoe asia central banks separate cause?> there is a further catch down so speak, but we are arguably getting into the asia cycle. >> thank you, chief equity strategists here in hong kong. you can catch up by using our interactive function tv . you can become part of the conversation and send questions to our guests at tv . this is bloomberg. ♪ >> here are your latest business flash headlines. google is shifting operations out of china and is calling for tariffs.from the 50% say they need a waiver while they move out of china. supplier chip expecting growth next year. markley says sales will rise as demand increases for apple's latest smartphone and they are also denying a report that the trump administration has repeatedly asked i want to chop to huawei.p sales another onernible] we are tracking here, certainly analysts expecting a worse outlook than when it comes to upfits and westpac rounding what our bloomberg headline suggests. >> this is a day when equity markets are rising in shanghai. it is a public holiday.

hong kong up 0.5%, japan up nearly 2% asjapan time in asia.up nearly 2% as japan catches up japan up nearly 2% as japan catches up on monday's gains. that's it for the business briefing this hour. 2,500 people employed by mothercare face losing theirjobs after the baby goods retailer announced it was appointing administrators. its 79 stores remain open for the time being, but the company said they weren't generating enough profit to be sustainable. so far, no buyer has been found. the company has been struggling for some time, losing £36 million last year. our business correspondent emma simpson reports it is big business, all this baby kit, from prams and toys to clothes. mothercare is the uk's best known one—stop shop. but it has lost its appeal for new mums and dads. at this baby and toddler group today, they say the retail picture has changed. back in the ‘70s, mothercare was the go—to place for baby essentials. you could get a pram for 6 quid. but, after serving generations of new parents, the business lost its way. mothercare's uk busine

>> certainly in asia. been, asia for asians. the u.s. should not have a role in south china sea's.he u.s. should not have a role in setting the internet rules in asia. is a loss not to have india. in some ways, perhaps a sigh of relief. given how much countries were having to accommodate india's interest. china will paint this as a win. ean and the rest of asia that china is there. be seen as something of a win even with indian out there because china did, ahead of the u.s. in these regional forums this week. >> thank you very much indeed. joining us from washington. going to leave things there for a couple of minutes. we have the french president, emmanuel macron, talking. we are to leave you with these images of shanghai. this is bloomberg. ♪ >> your black -- you are back with bloomberg markets: asia. u.s. and china signaling more progress towards a trade deal. jonathan, we heard changing paying speaking. he did sort of glean the trade deal a little bit. what is your take on this? the 13th of october, we published a note we pointed out the phase i trade deal was becoming likely.

that's it from "daybreak asia."ter, morgan strategist jonathan gardner will join "bloomberg markets." haidi: , and we will have live coverage of xi jinping's keynote speech. you don't want to miss that. perhaps he will talk about trade. standby for "bloomberg markets." the china open is almost upon us. this is bloomberg. ♪ beyond the routine checkups. beyond the not-so-routine cases. comcast business is helping doctors provide care in whole new ways. all working with a new generation of technologies powered by our gig-speed network. because beyond technology... there is human ingenuity. every day, comcast business is helping businesses go beyond the expected. to do the extraordinary. take your business beyond. beijing not :00 a.m. in and here in shanghai -- not :00 --. in beijing and here in 9:00 a.m. in beijing and here in shanghai. >> here are the top stories. more gloom for hong kong as the economy slumps again. its lowest level for 11 years. the city protests are having an impact here and abroad. u.s. futures mo

rishaad: i want to focus in on asia, look at asia on a wall -- look at asia as a whole. i will try to narrow down the industry groups. typically, in china, the more difficult sectors have been construction or metals. have seen nowe with the increasing trade tensions between china and the u.s. is more difficulties in the manufacturing sector, and probably the automobile sector, for example, is an area. juliette: when you look at your country risk assessments, you have moved some of them down. you were talking about the rise of political risks. hong kong comes to mind. that has moved significantly lower from a reading of a two-83. xavier: hong kong has been the place of trading between china and the rest of the world. it has been hit since the beginning of the year by the slowdown in global trade. in 2019, this is the first years of the global financial crisis since we have seen a drop in global trade. it is a drop of 0.8%. hong kong has been impacted by this. in addition you have some political risks materializing in hong kong. as we have seen in the third-quarter numbers

welcome to "daybreak asia." sophie: our top stories this friday -- the u.s. and china say they will remove tariffs as a trade deal approaches, but both sides say negotiations are making progress. investors are not so sure. disney leaps in late trade with quarterly profit topping estimates as "the lion king roars at theaters and theme parks stay strong. kathleen: let's take a look at how asian markets are opening. the asx 200, a little bit higher beenthe 6726, which had the biggest advance in three weeks on the market close yesterday. now to nikkei futures, a fractional move higher. there is uncertainty about the trade war deal getting done. that will weigh on japanese stocks. stocks had risen for a third day yesterday, but there could be a fourth, the kind of company that could benefit from this u.s.-china trade deal. stocks are looking about a half point higher, a little bit of hope there, and of course, the s&p 500 -- why is it down? because it was up so much today. the s&p 500 hit that all-time high. from here, we will have to wait to see some fresh impetu

welcome to daybreak asia. rising food costs and -- china's leaders with a headache amid new doubts about a trade deal. the price seems right for alibaba, singles' day off to a scorching start as shoppers around the world look for bargains. election,s a fourth but early suggest -- results to gamble may not pay off. we are live in madrid. haidi: to gamble may not pay off. we are live in madrid. haidi: let's hear how the trading week has started with markets coming online. sydney starting trading. investors after a bad week of trading, looking for a new catalyst. so for the next step up with trade negotiations, not much has developed but it is a big event risk week when it comes to the asian data, not least of which , industrialles production. domestic activity out of china with the deeper numbers out of china recently. theey on the back foot as day begins, new zealand trading up 1.25%. we are seeing when it comes to trading in the u.s. session this week, mildly positive after the s&p closed out friday at a fresh

the asia-pacific market is moving to the upside.t seems like the headlines with larry kudlow saying the phase i deal is getting down to the short strokes is lifting sentiment a little bit. you see some money being taking out of the havens. we are seeing yields pick up by two basis points. we are still talking about 184 for the 10 year yield. rishaad: yesterday, we were talking about you could go to 185 as it would go to 215. that is the way he was seeing it. australian 10 year falling. the yen, more or less stable. of theseoves out havens. the gold futures staying down one third of 1%. that is the position we find ourselves in. yvonne: there are talks about some type of qe being introduced as well. that is making some headlines here. what we could hear from solo next week. taking a look at what else we are watching. southeast asian markets. pretty much flat when it comes to malaysia. rishaad: gdp data out later on. indonesia has trade data coming up. yvonne: it just came out. fell 6% in october. we did get a trade surplus because im

welcome to "daybreak asia." our top stories this thursday -- china andefies overwhelmingly backed protesters in hong kong. president trump is expected to sign the bill into law. jay powell saw elevated threats including global growth and trade. sophie: macro uncertainty over trade in hong kong certainly looming large, given what we stocks.n so far in ozzie shares opening to the .1% after being tracked lower wednesday. aussie bonds are climbing for a third session tracking the rally we saw in treasuries overnight, to flatten.ontinued the move to the downside while treasury futures a fourthing a bid for straight session. all itsstronger against peers. checking in on what is going on -- i'm actually looking at the terminal right here because i wanted to show you it is testing the 100-day moving average, some that level. we are hearing google is changing its political add policy, limiting audience targeting. we know twitter has been political ads on its platform. we know facebook has not, but we google will no longe