vision for economic partnerships across asia. david: as we await that speech, equity markets are gripping higher. how long it lasts, who knows. >> is at the low hanging fruit? bottom fishing? >> or we might be seeing delays in the whole tape or discussion. >> these things are kind of synchronized. >> a lot of the tech heavy benchmarks, i will get out of the way. the hang seng is up 1.7%. this is to the upside and downside. we have currency markets. there we go, leading the declines here. leading the rally across some of the asian fx. this is indicative of the rally reaching commodity markets and commodity related currencies. you had the loonie up over 1%. the tone is quite risk on. i think that is the operative word. >> five weeks, the selloff is really what we have been trying to raise. >> we have some of these stocks that are on the move in this particular market. this is a 1.3% decline. one on the way down. jd.com is up over 8%. they can see what is going on with regards to that as well. >> there is some potential for em and c

asia. >> we are counting down to asia's major market open. >> our top stories this hour, asian stocks set to open higher after a dip, the wall street rally. investors looking for clues on the fed's taper timeline. kamala harris begins her southeast asia tour as the biden administration struggles to manage the crisis in afghanistan. singapore seeks to -- traders watching the symposium, the annual event being held virtually. usually, policymakers using this event to set up new initiatives. we have seen chair powell talking about that new policy framework. we are watching his speech now on friday. haidi: in the meantime, markets continue to search for direction as the impetus to the upside seems to be fading somewhat. the answer will almost always be higher, but that is not the case at the moment. 12 out of the 21 forecasters tracked by bloomberg expect the s&p 500 to fall into the holidays. the spread between the highest and the was target is the third widest in nearly a decade. look at treas

we have plenty more to come on "daybreak asia" -- "daybreak asia."is bloomberg. ♪ haidi: a quick check of the latest business flash headlines. two of the world's biggest bond breaking firms reached opposite conclusions on the state led bailout. moody's downgraded them two notches above the speculative grade level. meanwhile, fitch revised his rating watch to positive and said the bailout signals extraordinary support from authorities. the chinese company behind e-cigarettes is said to be considering a hong kong ipo. they could raise between 500 million dollars and $1 billion and it comes as china considers rules for the industry including new regulations for product marketing. blackrock bought a stake in the jolt as it bets the sluggish ev take-up will not last. it provides more than $72 million in funding. the investment in the asia-pacific region, 2021 figures already facing the 2020 total, shery. haidi: we are counting down to -- shery: we are counting down to the start of trade in seoul ps softbank betting $400 million on a simtech start, making

>> welcome to daybreak asia. >> we are counting down to asia's major market open. >> good evening new york. now our top stories this hour, asian stocks sets to climb after jay powell signaled a conscious and two pandemic era supports. hurricane ida slammed the u.s. gulf coast as a catastrophic category four storm, threatening a devastating storm surge, power outages, and destruction. the u.s. vows to keep striking targets -- isis targets. let's take a deeper look at jay powell and what he said in his speech. basically, he said substantial progress has been made, the fed is above its 2% inflation target . morgan to go on jobs. however, that does not mean they cannot start tapering now. he may distinction, we are going to taper and it does not necessarily mean that we hike rates. thinking of higher bars, that is a bigger focus on friday's jobs report. it is not quite as strong and a lot of people are saying that if it comes in stronger, that can be an issue for the markets. haidi: also, front of mind for everyone is the situation with the risk and chaos in afghanistan. we heard from the

roughly half of those were in asia.afghanistan, pakistan and india count for the bulk of those. other than that, particularly in asia, to the situation in hong kong where we saw the apple daily close, in general, there is a general sense of pressure coming down on sources of information and journalists working across the media sector. >> that is a treasure picture you're painting but when it comes to the markets, how much do investors actually care about press freedom and should they? >> it is in open debate and our reporting in this conversation lays that out. in a lot of ways, the press is a canary in the coal mine. in hong kong, that is the case you have seen, the crackdown spreading from media, putting politics into the media and then you will see companies come under pressure. more questions raised about the freedoms. not just the people to protest but also whether these moves are going to come down and impact other aspects of the financial market in terms of access to information, access to information on company

>> i think there is a big and deepening divergence between northeast asia and southeast asia.jumps out at me. if you look at the vietnam numbers, deep in this territory, this is the worst since very early on in the pandemic. this reflects covert outbreaks and covid lockdowns and how they are impacting production. factories have been shut down. workers were encouraged to sleep overnight in factories to keep things moving. southeast asia is being hit hard. pretty good numbers near south korea and japan. that might suggest that there is some more slowdown ahead, even for the good performing economies. >> the good news was the exports for korea in the month of august. 34.9% year-over-year. that is usually a good sign for the region. what is the outlook for the region in the annual holiday shopping season? >> all the anecdotes suggest demand is very strong around the world for consumer made goods in asia. the problem is getting those goods to the market on time. who we know the supply chain logjam is continuing. it is driving up the cost of both the input materials to the finished

♪ shery: "daybreak: asia." welcome to "daybreak: asia." -- welcome to "daybreak: asia."ing at major markets opening in asia, our top stories, asian stocks under usher is used -- u.s. equities have their worst drop in a month. rising covid cases in new zealand dampening talk of a rate hike. tencent earnings later and shares fall amid the beijing crackdown and criticism over online gaming. sophie: in tokyo, muted moves on the nikkei. jgb gaining a little ground, the latest trade figures digesting from japan showing that growth is slowing for exports in the country as the delta variant spreads. checking on the open insult, first just vaccinations by the end of september 70% in the face of rising virus cases. we have seen optimism dam over concern in ship capacity, the kospi losing ground, and the korean won continuing its decline, eyeing the 11.79 handle against the dollar this morning rejecting the open in sydney, staggered open, ghb shares taking a hit. the woodside deal confirmed and plans to scrap a do a listing. the asx 200 off .4%, plenty of earnings to digest from th

>> welcome to "daybreak: asia." haidi: we are counting down to asia's major markets. asian stocks set for modest gains after new wall street records, treasuries rebound from a three week low. president biden wins bipartisan support for an infrastructure bill but it could face a bumpy ride in the house. no commitment from softbank. controversial plans for personal investments in the vision fund. shery: breaking news out of south korea. we are getting the latest, the july unemployment rate surprisingly falling to 3.3% from 3.7% in june. it is a much better rate than analysts had expected. the expectation was that the rate would to cairo gift -- would tick higher. now we have seen it fall. perhaps, it could be that downtick in workforce participation. workers waiting out the latest virus search. bloomberg economics actually expecting the rate to rise further in august given these concerns over the virus. of course, we are watching very closely the reaction across asia when it comes to that u.s. infrastructure bill. commodities gaining ground, steelmakers gaining ground.

we will have plenty more to calm on "daybreak asia -- to come on "daybreak asia."s is bloomberg. ♪ introducing xfinity rewards. our very own way of thanking you just for being with us. enjoy rewards like movie night specials. xfinity mobile benefits. ...and exclusive experiences, like the chance to win tickets to see watch what happens live. hey! it's me. the longer you've been with us... the more rewards you can get. like sharpening your cooking skills with a top chef. join for free on the xfinity app and watch all the rewards float in. our thanks. your rewards. haidi: we do have cpi numbers coming out of japan at the moment. we have the year on year numbers coming in at a follows .3%. that is actually slightly better than expectations of a contraction of .4% but again falling into deflationary territory compared to just modest gains of 12% we saw in the previous month. shery: same for core consumer prices when you exclude the fresh food prices. it is a deceleration but not as fast as what -- was expected. core cpi is a contraction of .6% which is a slower deceler

haidi: welcome to daybreak asia. sophie: we are counting down to asia's major market open. shery: our top stories this hour. asian stocks set to track u.s. gains, strong earnings, commodity rally boost confidence. president biden's $3.5 trillion budget blueprint passes the house. we dig into the detail of samsung's expansion plan, including 40,000 new hires. for risk on in the market, boosted by the fact we got the budget resolution after the senate, now we have the house. there was a lot of political maneuvering by nancy pelosi. we are setting up a vote before september 27 on the infrastructure package. seems to be blue skies for the time being when it comes to the congressional approval for the economic agenda. haidi: could it be blue skies for china tech stocks? we saw the recovery, bargain-hunting rally, driven by this key investor. cathie wood's investments, really strong results from jd.com, seemingly unscathed. cathie wood coming back into the market. we see this being a global theme, because the tech index in hong kong advancing 7% as well. we will continue to see i

is it in asia or europe? thomas: the formula is pretty simple. where are you going to have higher sequential growth on the macro side and through earnings, and where do you have central banks that are accommodative? that is really japan and europe at this moment. we are neutral japan. that has been upgraded from underweight. we think the baton in terms of economic growth is being passed from the u.s. to europe. it started in china, now the u.s., and i think the next phase is europe as we see the return to economic normalcy there. david: is that the same rationale behind downgrading india? while the forecast for the full year is still quite high, you are seeing that moderate sequential cleat -- sequentially. thomas: we were overweight in q2. that worked out well. just more concern around some scarring around covid. what that means for consumer sentiment and how that is going to affect demand. not underweight, but i think the performance we saw in q2 will be very difficult to repeat into q3 for indian equities. yvonne: and for china you have stayed

especially southeast asia? anne: southeast asia plays a really important role.ore specifically, there is a lot of manufacturing. while we hear a lot about leading edge, a lot of the -- which semiconductors--which singapore has. they announced $4 billion of investment to increase their capacity within singapore for these more mature semiconductor technologies. vietnam and malaysia are important in terms of packaging, assembly, and tests. they play an important role. haidi: what is the bigger risk, geopolitical, or operational? anne: they are both risks and they are a little bit different. geopolitical is when i think we will see continue long after this current shortage. china has always wanted to secure -- other countries are seeing how important it is it semiconductors are such a critical part to every aspect of our economy and national security. semiconductors are not just pc's and phones but your data center, cloud infrastructure, communication, and automotive and manufacturing are becoming heavily reliant on semiconductors. the operational aspect in terms of

interest in asia. v.p.arris: our engagement in asia and the indo-pacific is not against anyone country, nor is it designed to make anyone choose between countries. instead, our engagement is about advancing an optimistic vision that we have for our participation and partnership in this region. vonnie: in singapore, the number of locally transmitted covid-19 cases jumped, after 59 any infections were linked to a dormitory for foreign workers in the north of the island. daily case numbers of 94 are the highest for more than two weeks. this comes as singapore looks to shift away from a so-called zero tolerance avenue. the u.s. is reportedly pressuring israel not to allow a group to win a tender to build two light rail lines in the tel aviv area. a business website, calculus, says the topic will likely come up thursday when the israeli prime minister naftali bennett, talks with president biden. five groups are said to have submitted bids for the businesses, three of them chinese. china shutdown 145 accounts on

it is -- in asia? garfield: the new zealand dollar cost by 1.5%. there was one covid case and that was enough because it meant that the rbnz delayed a rate hike because the entire country went into law down. more broadly across asia, asia has been very exposed to the delta variant. the other thing that asia is exposed to is china and china equities and we had the daily crackdown headline about fresh limit on what internet companies in china can do, fresh regulations, and that is a class drumbeat. the victory china tech giants have lost about $1 trillion in market cap since the soft ongoing so that is a constant burden for the market. there is also plenty of disquiet about china evergrande, the big property developer, which is struggling to remain solvent. everywhere you look in asia, you always be china in such a big part of the picture and it is a very gloomy part of the picture right now. dani: certainly. i'm just looking at alibaba share prices which fell to record lows, falling to another record lo

also looking at asia mining stocks.: we did see in the u.s., major refiners had to cut capacity in the face of this hurricane. perhaps some implications to this part of the world. you are seeing the likes of sk innovation higher. sinopec is also up. we are looking at futuresm brent and wti are all searching on the back of concerns with hurricane ida. natural gas jumping to the highest in 20 -- highest price since 2018 on some of these concerns. . so a lot of questions about that. we also have opec happening on wednesday, a lot of questions there, given delta and concerns of the growth scenario, if in fact they can raise output. for more, let's bring in our energy reporter with the latest on hurricane ida. stephen, tell us more about what we are expecting the next 24, 48 hours or so. >> first, we will be looking at, i think you summed up oil and natural gas, but now we will be looking at the power outages. all of new orleans is without power right now. nearly one million households without power across the region. that w

this chart, which is asia-pacific, over 74%.e of these places have seen a slow rollout as far as the populations that have been fully vaccinated. michelle, you guys have written a piece on supply chains in the region and the state of play and possible disruptions we are seeing because of this uneven rollout in the vaccines and the virus battles. can you take us through the thinking and key message of your peace? -- of your piece? reporter: for a couple years, we have been talking about the resiliency of global trade and trade our houses in asia, which is critical to that. we are at a potential breaking point with vaccination rates. vietnam is 1% fully vaccinated. they have been a trade war success story. now, that could be starting to turn. this is a critical time because the consumers, global businesses are staring down the holiday shopping season. at the same time, we have news out of china about foreclosures due to positive virus tests. we have all these countries in southeast asia battling the virus. a lot is happening at on

but if we give you a look at some of the key ones, north asia was particularly strong.market closing up around 1.8%. south korea up 1%. taiwan market up around 2.5% we had a really rough end to the trading week for markets across the asia pacific on friday when we saw the hong kong market fall into bear market territory, 20% decline from the mid february high. but a bit of a recovery today on the back of what we saw on wall street on of course, friday and of course markets and investors looking forward to jackson hole later on this week but let's give you data about the hong kong market, that's the one we were really watching today. up by more than 2% at one point during the trading session the market ending up by just over 1%, 259 points higher, managing to pull itself out of the bear market territory i was telling you about which we saw on friday. of course, remember this market really been weighed down by a lot of selling pressure in a number of those mainland chinese tek companies listed in hong kong on the back of the regulatory issues there. we saw a big bounce ba

~ ., .,, . .,, on asia? i think not as much as ou on asia?u might imagine. _ on asia? i think not as much as you might imagine. everyone . you might imagine. everyone in the world has been watching the her indices at kabul airport, and clearly this is not a good for the united states. it's very difficult situation. i other hand, we have to be difficult about saying, just because things are difficult in afghanistan, america going to behave differently in the way it behaves with japan or korea or taiwan. it behaves with japan or korea ortaiwan. however, people in the region are now going to be watching for signs of american unreliability. they are primed for this in the afghanistan aftermath, so it is very important if you're an american policymaker to give those signs cut intact to the opposite. make sure your committed to the region in new and imaginative ways. that is where kamala harris's trip was ok, but if you look about what you talked about on vaccines and trade, not very much in the way of specifics. not very much in the way of specime

more to come on daybreak asia. this is bloomberg. ♪ ♪ shery: this is a picture across asia.ing ground for a second consecutive session. we are seeing most but -- sectors in the green but health care, consumers, discretionary meeting. materials under pressure. we also have soft data when it comes to household spending and labor cash earnings. asx 200 under change under pressure at the moment. tech gaining and materials pulling the other way. stocks rebounding from the previous session. unchanged for the kospi at the moment but one stock we are watching, south korean digital lender kakaobank surging on its first day of trade. the second largest ipo in seoul. this year. let's pray in our stocks reporter. the demand seems to be there. reporter: what a sensational morning. it looks like what the lender will be able to do in the future rather than currently, less than 1/10 of the traditional financial companies. it makes up the largest company -- financial company in korea with market optimization. it is operating on the online space with its mobile application. shery: that is it

the msa i asia pacific index has been up -- the msci asia pacific index has been up.ing the rally coming back through in chinese tech stocks. a lot of bargain hunters pouncing in the worst rout we had seen for the sector in months. also good moves in korean assets today after we saw the early export data signaling resilient global demand despite concerns and headwinds we are seeing. in terms of whether or not should stay pose ha been watching the rout in chinese stocks. jp morgan says the china stock selloff you have been seeing is business as usual. they are staying positive on china shares and is saying equities tended to rebound up to 20% when you look at historical data after six months from the rout. even with the 1.5 trillion dollar outcome of the equities team at j.p. morgan still positive, and this rout is just part of the cycle. rishaad: all right, let's have a look at a tale of two cities that are dealing at the moment with the pandemic. hong kong's decision to reverse its seven-day quarantine policy amid an outcry from businesses, and many other countries a

we are counting down to asia's major market opens. shery: welcome to daybreak asia. our top stories this hour -- china's security regulator calls for talks with the sec after leaks over beijing's crackdown trigger leads -- cell -- leads to a selloff. square in an all stock agreement worth 28 million -- $28 billion. haidi: these are the stocks to watch going into trading in sydney. we are seeing more positivity when it comes to the start of trading in asia, that risk off sentiment we saw, asian buyers looking to buy the dip after what was a pretty horrible week last week. we are expecting something of a u-turn when it comes to the timing as well as bond buying purchases and that cash rate staying on hold as parts of brisbane go into lockdown, further weighing on the economic recovery across the nation. chicago nikkei futures up as well and a bit of a recovery from friday's session, just shy of half of a percent. shery: we are waiting to see how the markets react to the back and forth between beijing and washington. china's security regulator seeking more talks with it

♪ haidi: hello and welcome to daybreak: asia. >> we are counting down to asia's major market of.hery: and for the evening from new york. asian stocks face a caution open despite wall street records as the pandemic and china's crackdown dampened sentiment. tencent considers gaming as spiritual opium rebuke. haidi: we have numbers crossing bloomberg earlier. second quarter net income results the expectations coming in at 1.16 billion versus 1.1 4 billion. net interest income came in just shy of 1.5 billion, noninterest income at 1.11 billion sing dollars. we are seeing recovery as economies start to pick up and restrictions on lending start to be pulled back. we are also seeing other assets coming in at $393 million. that is 25 singapore cents per share interim dividend also being announced much better than expected after mas lifted the cap. >> a similar story announcing shares after the monetary authority lifted that cap. we are seeing first-half net income coming in, again of 29% year on year. first-half net income of over 2 billion singaporean dollars. uob sank liquidity funding

let's bring in our asia stocks reported.is quite a u-turn for companies that for year have lagged the broader market. >> you're right. may have forgotten the stock market for years. share prices have been lackluster for years. for this supply chain bottleneck , there's this big mismatch in supply and demand for chipping services -- shipping services that support and all of these shipping rates. japanese shipping companies are really having a big rally that is expected to kind of last all throughout the year according to some analysts. and because how enda just set about the supply chain being fragile, prices are likely to be supportive for a while as the variant keeps on spreading through the region and globally. haidi: given that it is a global theme, why are we seeing japanese shippers outperforming even the regional counterparts? min jeong: if we look at the past month, you can see the japanese companies, the three big shippers have been outperforming most of its peers in asia. if you look at a little bit bigger timeframe

i am watching southeast asia today.us situation is very much happening, indonesia extending curbs. second quarter results are due later on. thailand's cabinet is doubling its covid relief bill. david: let's talk about insurance, let's talk about tech. put those things together, you get a company called onedegree. they have raised $20 billion through series b funding and plan to use the money to expand across the region. they offer insurance for pets, homes, businesses, as well as cybersecurity solutions. let's bring in ceo alvin kwock. $28 million. what do you plan to use the money for? >> we have gone through the pro-democracy process and are doing extremely well right now. more than 90,000 customers in hong kong, which makes us number one at the moment. over 90% renewal rates as well. we now want to scale up globally. we already have strategic alliances in europe and asia. we are going to strengthen it. we are also expanding to more markets in asia pacific as well. yvonne: i have to ask you about china. you have a sma

dan: there are good alternatives in asia. one would be in the, which is coming out of a very severe pandemic and we think it will be seeing a quite rapid economic recovery as the pandemic eases. another option is singapore aware investors are heavily underweight. it is another vast recovery story for this year and had a deep downturn for this year. but the pandemic is not much of an issue anymore. it has heavy tech exposure on the export side. korea we like ram and memory, autos, the banks. those are three markets you can look at as alternatives to china and they are pretty sizable markets as well. david: so you are underway to china? that doesn't mean you don't like anything within the chinese market then. take us through some names you might like in the chinese market. dan: i think you don't want to completely abandon the tech plus sectors. you just need to be highly selective. you need to look at areas that may be not so sensitive to the regulatory crackdown. one option would be, say, in food delivery. also, you might see

is emitted to southeast asia.hat is the message the southeast asians -- southeast asian leaders are concerned about. they are all quite aware that under the previous administration, the united states withdrew from the transpacific partnership. president trump visited the region several times to meet with kim jong-un. he went to singapore, to vietnam. but beyond that, was not terribly engaged with southeast asia itself. that is something the biden administration is really trying to address now. manus: thank you very much. bruce einhorn, the latest on kamala harris and her trip to singapore and asia. let's get the first word news. >> thanks. sweden's prime minister is to step down in november after seven years in power. his unexpected announcement in a speech on sunday could open the way for the finance minister to become the country's first female leader. bloomberg has learned janet yellen has told senior white house advisers she supports reappointing jerome powell as federal reserve chairman. the white house has b

welcome to daybreak: asia. i am haidi stroud-watts in sydney. sophie: we are counting down to asia's measure market -- major market opens. shery: asian traders worry about tapering as u.s. stocks fall from records and commodities slumped. investors awaiting news on a softbank buyback. scientists issue a regular global heating. we look at the role that hydrogen can play in avoiding climate catastrophe. we are watching u.s. treasury yields. we saw them shoot up and get past that 1.3%, 200 day moving average. this on comments from the atlanta fed resident on faster tapering. he is talking about moving to taper asset purchases after another strong month. all of the focus on when that tapering timeline will really take shape. >> when you take a look at the performers, these vaccine makers, the drugmakers like moderna, beyond tech -- biontech. i think biontech was on track for one of its highest quarters we have seen. this as we get enthusiasm and expectations they will be boosters. >> no wonder they jumped as much as 18%. an interesting day when tech

into your political rivalry, no wonder the reading that the next the war will break out in asia is not a credible breath. well, it is not that i'm now joy by for while devolved, you just form our foreign secretary. you actually, it's a great pleasure, great honor for me to talk to you. thank you very much for your time. my pleasure. thank you very much. been right, and now you gave me several days more than 4 days of your life to be diplomatic service. diplomacy, especially in your region, has never been short on rivalry, intrigues and all sorts of complicated relationships. when you look back at your long career, do you think current diplomat, those who are in service right now, do they have it easier or more difficult? when i think the situation has become much more complex than before, in asia, things are become very difficult because all the idle china and the inability of not only the neighboring countries of china, but also europe and the united states to come to terms with it. and we talk about the 2 cities as being policy for various and establish video all the reasons for a co

this is daybreak: asia.l fire a manager accused of sexual assault, while two other managers who mishandled the allegation will step down. the co said in a memo seen by bloomberg news that the company must reset and rebuild. alibaba says it has been cooperating with police to investigate a claim by a female employee that her manager and a client sexually assaulted her during a work trip. the financial times says tiktok owner bytedance is reviving plans to list in hong kong by early next year even as chinese authorities widen their crackdown on technology countries. airport says a listing could take place as soon as next quarter. when contacted by bloomberg news, a bytedance spokesperson said the report was inaccurate. singapore will recalibrate its foreign worker policy to ensure it addresses the economic and social concerns of its citizens. the prime minister says the government is aware of heightened concerns over foreign workers during the pandemic. he says maintaining social harmony takes unremitting work

"daybreak: asia" is next.loomberg. ♪ courts welcome to daybreak: asia from bloomberg world headquarters in new york, i am shery ahn. >> i am southern, rude in hong kong. we are cutting down to the major market open. >> i am haidi stroud-watts in sydney. our top stories is our. following wall street lower. the treasury yields also concerning. as the delta variant

kamala harris has arrived in singapore for her first trip to southeast asia.l participate in the meeting on supply resilience as well as the pandemic and the digital economy. she has to vietnam on tuesday -- heads to vietnam on tuesday. more than -- will be issued a two strike warning after the u.k. government promised to crackdown. bloomberg estimates u.k. travelers have spent 380 million pounds on tests in the first six months of this year. the -- prime minister is to step down after seven years. it could open the way for sweden's finance minister to become the country's first female leader. global news, 24 hours a day, on air and at quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. anna: thanks very much. laura wright with your top news. we are just over a month to go before germany's general election. the latest polls show support for angela merkel's party and its affiliate have slumped to an all-time low. the social democrats have risen to an almost four-year high. maria joins us from

in asia, the msci asia pacific down. in mainland china, csi 300 on.sses when it comes to technology. once again, it is tech leading the selloff in hong kong, down about 165 points currently. in korea, concerns about semi conductors and the delta variant. blockbuster results for disney as consumers subscribe to its streaming service, disney plus. shares rally in after-hours trade. we are going to give you the details next. this is bloomberg. ♪ (announcer) back pain hurts. you can spend thousands and still not get relief. now there's aerotrainer by golo. you can stretch and strengthen your core, relieve back pain, and tone your entire body. (man) and you're stretching your lower back on there. there is no better feeling. (announcer) do planks for maximum core and total body conditioning. (woman) aerotrainer makes me want to work out. look at me. it works, 100%. (announcer) find out more at aerotrainer.com. that's aerotrainer.com. ♪ tom: good morning from bloomberg's european headquarters. i am tom mackenzie. this is "bloomberg daybreak: europe." here is

shery: -- vonnie: this is "daybreak asia."utes from the july fomc meeting show wide agreement among officials that they obtained their inflation goals but so, you can make progress on their employment mandate. on the timeline of when to reduce the bond buying, the minutes reflect most participants judged it could be appropriate to start reducing the pace of asset purchases this year. the biden administration will start offering booster shots on september 20 to all vaccinated u.s. adults. the move is a massive expansion to a program previously limited to those with weakened immune systems. this as infections from the coronavirus delta variant surged. biden said the u.s. is prepared to deal with the delta threat and that vaccinations are the best protection along with masks. singapore will offer vaccinations to short-term visa passholders. the ministry announced the decision, saying the eligibility for expansion includes special passholders such as those on training work permits. vaccinations will be made available to eligible s

. ., ~ ,, , . to asia.y much. ashley townsend foreign - to asia. thank you very much. | ashley townsend foreign policy expert on the latest out of washington today. meanwhile to the other top story this hour. hurricane ida landed a category for amplitude louisiana with maximum sustained winds of 140 km. today the search and rescue were fanning out across the state to assess the scale of the damage. and it is widespread. it's not as bad as katrina which devastated new orleans 16 katrina which devastated new 0rlea ns 16 years katrina which devastated new orleans 16 years ago. it would appear the levees, pumps have done theirjob. but still there are1 million people in and around the city without any power. and they will be for some time. we can go live now to dave cullen, he is news director of w ltv and louisiana. hejoins me now live from new orleans. thank you so much forjoining us and what i imagine pretty difficult conditions out there. you are currently on the ground in the affected area. talk us through

in no other place were nixons to see no other change than visit in asia.ad been in the throws of war. today it was a free and peaceful republic. while riding into sygone testified to the friendship that vietnam feels toward the american people and their elected representatives. this happened to be a time of of national rejoicing, everywhere people carrying banners and marching of anniversary of presidency. thousands gathered on the lawn before the presidential palace to cheer the republic and president when mr. nixon came to be received by the young nation's chief executive. the two leaders conferred for an hour and a half. mr. nixon extended eisenhower's warmest congratulations who had shown astonishing progress and spirit through two difficult years. at president's invitation, the visitor from washington joined him in facing the assembly outside, speaking to his cheering countrymen jim thanked them for the splendid unity which he feels has been responsible for the success their nation has achieved. he also thanked the united states through its vice presi

haidi: welcome to "daybreak: asia." shery: we are looking at the major markets opening across asia.tories this hour -- there are concerns pandemic recovery is losing momentum. alibaba's earnings may lift some of the clouds over chinese stocks after beijing's big tech crackdown. we will look ahead to standard chartered's report, and if it will follow the lead in paying a dividend. plus, nissan expecting a turnaround. we speak at this hour with the ceo. haidi: major markets coming online now, let's get you to the market open with sophie. sophie: we have seen downside moves for tokyo equities. august has proven historically to be a tough month for tokyo stocks, and earnings in focus as well. we are seeing some downside moves for the share prices this morning. japan airlines and mitsubishi among names reporting today as well. plus, the latest data to digest. prices rising unexpectedly for the first time in the year but inflation subdued. and elsewhere, traders waiting for a bond sale among considers -- among concerns about demand. in the u.k., the pickup above the target range. we are w

haidi: welcome to daybreak asia. sophie: we are counting down to asia's market open. kathleen: i'm kathleen hays. now for a look at our top stories this hour -- asian traders await the august pmi numbers after wall street hit its 12th record close of the month thanks to big tech rally. china's whitening crackdowns also in focus -- via gaming and a private equity latest focus. and the u.s. officially ends its twenty-year presence in afghanistan, but hundreds of americans who wanted to leave are still there. haidi: we do have breaking news crossing the bloomberg when it comes to korea industrial reduction. the company grew better than expected. the survey was expecting 7.2%. it's moderating from the june figure of 11.9%. coming in with a gain of .4%, much better than the contraction of .5% that was expected. delay slowdown from the 2% pace we saw in the previous month. when it comes to bank of korea, a lot of people were surprised a few days ago, largely on account of the debt written in the country, but some of this is positive data that would be supporting that decisi

yvonne: stephen engle, our chief asia correspondent. let's bring in with a look at the opinion colonists. we talk about all the regulatory sectors that get hit by the regulatory. now it is karaoke. v for foreign investors, this is such a wake-up call for them. they know they are calling today about how it is a time for housekeeping. on what they are actually investing in. particularly when it comes to be i.e. structures. ms. ren: i imagine foreign investors would like to talk to her heart out on the liquid needs to be honest, commodity companies listed in new york or hong kong are stricter. there a house of cards. everybody knows that. these companies are cayman islands shelter companies. their control over the operating entities often is just contractual agreements which can be broken if they do not of the companies. over the years, every one knows that but nobody pays attention to it. this crackdown, the beijing regulatory crackdown, especially on the education stocks, is meaningful because we start to look at these companies as poten

s. outreach to asia. now in a news conference on monday in singapore, vice president harris talked about the us as commitment to a free and open in the pacific region, and particularly to maintaining freedom of navigation in the south china sea. this is a body of water which is important, not only because it's a trade route, but because it's resource rich and china has laid claimed to large parts of it. there are also several countries in the region that have competing claims over the south china sea. and it's increasingly turning into a security flashpoint, partly because china has grown more certain it's claims. and partly because china views the freedom of navigation operations conducted by the u. s. navy, in the south china sea as provocative. now, commonly harris's visit is intended to signify 2 countries in the region that the u . s. is committed to keeping a rules based international order and in keeping the south china sea open. now, part of the u. s. policy will be about strengthening ties with c

or western asia toward east asia.his does affect that. afghanistan even shares a small portion of the border with china , and china is another country that has seen a lot of unknowns in what is happening in afghanistan. i'm not sure that there is necessarily a regional strategy that has been clearly outlined on central asia, but the broad view seems to be a biden push to have less of a u.s. presence in and around afghanistan and the middle east in western asia and increase the focus on the u.s.'s relationship with east asian countries. lisa: in the near term than sort of the broad strategy the u.s. is affecting, there is a refugee issue, a fact a lot of the people who have left afghanistan are trying to get in other countries, including the united states. has the u.s. open to borders to these individuals, especially as the european union tries to keep them in the neighboring countries and see if you can do that and not bring them here? jack: to some extent yes, there will be some afghan refugees coming to the u.s., an

on her visit to asia, the us vice president kamala harris pledges an enduring commitment to the regiond locked down in their own country — just when can australians expect things to open up. it's six in the morning in singapore, and 2:30am in kabul where diplomatic pressure is building to try to extend the august the 31st deadline for foreign troops to leave afghanistan. britain, france and germany want more time to allow people to be airlifted to safety. the united states says it hasn't ruled out troops staying a little longer. but the taliban are hostile to the idea — saying it would breach a previous agreement. this report from kabul is by secunder kermani. it's crowded, filthy and baking hot. but desperate afghans keep coming to kabul airport. so many children in such a terrible place. this woman worked alongside german forces. she has documents proving it — but no permission to travel. "i've been here with my kids for the past five days, waiting for the soldiers to look at my papers," she says. "but i can't even take two steps in this crowd." everywhere we go, people beg us for he

we hope that all the -- of asia -- all the nations of asia will understand our attitude toward collectivend may i say at this point i appreciate particularly the fact that with the rain coming down, so many of you still will stand there and listen. [applause] may i thank you for listening so patiently, and i may i -- and may i say to you as was the case three years ago, mrs. nixon and i have been deeply touched by the welcome that we have received all over your country. i trust that the years ahead will see the republic of the philippines make even greater progress in the next ten years than in the last ten. [cheers and applause] >> the next day vice president nixon visited the -- [inaudible] its long silent gun withs remain a memorial to the brave men who defended this island fortress. it's a bond between two nations, for it was here that fill pinots and americans -- filipinos and americans fought and died side by side is. the tunnel was also toured by the leaders who shared vivid impressions of its historic past. it was here that living quarters had been provided for the first philippin

a pretty big date when it comes to earnings in asia.e are watching closely the china regulatory crackdown story. there have been views on either side suggesting whether this will be a boon for hong kong ipos in the pipeline, or whether china will continue the regulatory scrutiny as well. shery ahn: we have seen that ipo boom. this chart showing inflows totaling more than $30 billion in hong kong alone in 2021. you mentioned the regulatory concerns. that is perhaps helping those listings, exempting companies from going public before seeking the approval of the cybersecurity regulator, and this at a time when we get more hints that the scrutiny will continue for the next five years or so, according to the latest guidelines. we have a listing in hong kong later thursday. we will hear from the president exclusively as the startup makes his trading debut. coming up, samsung launching new devices for the latter half of the year, including the new galaxy phone, a direct rival to the upcoming iphone. we will get you the details. this is bloombe

>> welcome to "daybreak: asia." i am haidi stroud-watts. sophie: i am sophie kamaruddin. >> i am shery ahn. our top stories this hour, president biden defends the afghanistan withdrawal as chaos erupts in kabul. he says america's mission was never about nationbuilding. the s&p 500 now double its march 2020 low. berkshire hathaway cells stocks, including biogen and liberty global while adding to just three positions last quarter. this as we continue to see record highs in the s&p 500, perhaps on concerns about rising u.s.-china tensions. the sec chair saying investors should know about the risks of chinese companies, that american investors do not know everything about some chinese firms listed in u.s. stock exchanges. this coming after we have seen the regular holding ipos of chinese companies until they lose disclosures. haidi: we have seen that continuing to play out, chinese tech stocks slumping on monday after another round of it is is him from chinese state media or online gaming. tencent falling. the messaging has been clear. china sh

we have the director of asia oil joining us next with the asia outlook.s is bloomberg. ♪ >> welcome back to the show. 10:29 in the morning in hong kong and singapore. 10:29 p.m. in new york. singapore and japan are shut today. the benchmark, you can see we are down a little bit. southeast asia is coming online. we are looking at what happens with malaysia. the back of virus cases rising there. manila, we are doing ok. .8%. not really a lot. it is more of a currency market. we will have more bearing on what happens here. >> we saw some of the currency got hit bigger than expected, the job support. take a look at some of the key stories and data we are watching and data we are watching in southeast asia today. the country is charting a path forward with a virus. so far only about 30% of the government aid has been dispersed for small to medium-sized companies. singapore says it will fine-tune its foreign worker policies to address concerns from some citizens. the prime minister said he understood anxiety around job security had become worse during the pande

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