we are counting down to asia's major market opens. shery: i'm shery ahn in new york or welcome to "daybreak asia. -- i am shery ahn in new york. welcome to "daybreak asia." tesla revealing plans for a shift in battery technology. bitcoin moving closer to mainstream acceptance. evergrande shares may resume trade in hong kong as it scraps plans for a $2.6 billion unit sale. haidi: let's get you straight to the aussie open as we see trading getting underway. that staggered opening, gains across the board when it comes to how the asian session is likely to attract. the asx 200 up by just shy of .2%. this of course after we had really u.s. stocks rally extending that advanced to a sixth session within record highs. the aussie dollar is one of the big gainers overnight, .6% higher, climb into the highest since early july, trading flat at the moment at just over $.75. kiwi stocks up i .4% with that trade deal with the u.k. being enough as well. falling back just a little bit but still seeing a pretty strong gain on the back of that dollar we

asia is not one market.a special regulations, different attitudes towards digital insurance and readiness for insurance. we are very focused on health insurers. how can we actually deliver affordable and accessible health care and which markets have those -- haidi: where do you go in terms of the fundraising and what's the plan to deploy capital? what are the expansion plans? michael: hong kong still hasa $6.9 trillion insurance protection gap, digital insurance is less than 0.1% of the market. between these insurers we still see a very long runway. most of the capital will be going towards growth capital hong kong, and acquisition and a lot of health care innovations. beyond that, we will look at how we expand in different markets, talking to different regulators on that. haidi: there have been reports that some virtual banks have invested and seen losses when is sent -- it comes to chinese assets. can i ask what exposure you have to the chinese markets? michael: we have a very safe investment for folio, pr

sophie: we are counting down to asia's major market open. haidi: welcome to daybreak asia. our top stories this hour. asian stocks look to follow the rebound on wall street as traders weigh inflation and energy costs against the pandemic recovery. sounding the alarm on chinese stocks. big firms tell why they are turning away from the second-biggest market. facebook denies choosing profit over the safety of users after a whistleblower's testimony on capitol hill. shery: we start you off with breaking news out of south korea. we are getting those inflation numbers. this is a faster acceleration than was expected. a 2.4%. it is easing from the previous two months when the cpi came in at 2.6%. it is still the sixth consecutive month we have seen the price inflation in south korea remain above the central bank's 2% target. month on month is a gain of half a percent. a little bit of easing from the previous month. this coming at a time when we have had higher food costs. we continue to see elevated commodity prices. strip out the food prices, the volatile components and core cpi

, also south asia. it was conceived as a pivot from the atlantic to the pacific. primarily as a military and diplomatic pivot. it should have been a pivot to asia through europe. the europeans have much older and deeper ties in asia than the united states does. if you look at southeast asia, vietnam and laos and cambodia are french colonies. mali and burma french colonies, indonesia a dutch colony and now have many citizens of south asian decent. we should have started with europe working not only militarily and politically, but economically. of course, china is the eu's biggest trading partner. and even in military terms, the french have 1.6 million french citizens in their south pacific territories, and they have 8,000 troops stationed in the south pacific. they consider that an area of responsibility. so for president biden, who focuses on, you know, alliances of democracy, they really made a fundamental mistake by turning away from europe to china rather than through europe. >> ian bremmer, what abo

east asia economies.t of their commodities and fuel energy. that raises concerns but at the same time, if you look at these prices, some of these achilles have not been raised because of covid we need to see some adjustments. this reflects some of the hurdles we face in terms of green energy condition. but public, and india as well. rishaad: the reason i asked my question earlier is we got china slowing down. we don't know what degree it will slow down too and it is 18% of the global economy here. that could put world growth overall. what do central banks have in their kit the able to deal with slowdown? julia: if you look at the third quarter, we will see is significant close -- slowdown in china already if you look at the expert growth for asia, it has been very strong. asian economies are expert in growth. they are coming up from the very high, especially in developed economies and it will slow down but still, as economies are growing around their potential and it will be until the second half of next

definitely . reater southeast asia? definitely greater intensity - southeast asia?he l greater intensity and the strength of typhoons, greater rainfall and greater frequency as well and, soon enough, we will be seeing in terms of inundation of the lower delta lands in the mekong and rising sea levels and global temperature rises, which everyone is experiencing across the world. the report tells us that there is no habitable region in the world that has not experienced climate change. many of these countries are listed as developing countries too. do they feel that the developed world and western governments are doing enough to support their nations in the climate goals?— support their nations in the climate goals? definitely not. i think climate goals? definitely not. i think they — climate goals? definitely not. i think they are _ climate goals? definitely not. i think they are looking - i think they are looking forward to the 100 billion committed back in 2015 to be realised at this coming meeting. you must realise that these countries are very poor in adaptive ca

i what chief north asia correspondent is here. stephen engle.laughter] stephen: i am not in my 20's. rishaad: i am acutely aware of that. [laughter] yvonne: none of us are. rishaad: anyway, let's get to more serious points. fantasia. what do we know about this company? it has been whispered about before. stephen: it has. it is a liquidity problem that other small developers are having because of the various regulatory pressures in china and also because sales have come down. fantasia is not as large as evergrande. it ranked 60th among chinese developers for contracted sales so far this year. evergrande is number three and evergrande has 300 billion dollars in liabilities. it will not have the same kind of impact but it is part of the contagion we are seeing. other developers, this one has been in the news recently as well, sunak, we learned a week or so ago that it was requesting special policy support from the local government. it is down 11.25%. these are all popular property developers. fantasia holdings put out a statement saying they did no

haidi: hello and welcome to daybreak asia. sophie: we are counting down to asia's major market open. kathleen: and good evening from new york. here are our top stories. asia stocks may lag behind the u.s. despite the s&p 500 hitting a record high. traders are weighing inflation and covid-19 risks amid key earnings reports. facebook reports strong revenue growth but warns of headwinds in the fourth quarter. internal documents highlight the company's struggles. crown resorts said to be unfit to run its flagship melbourne casino as a royal commission inquiry finds the company engaged in conduct that is quote illegal and exploitative. haidi: let's get you straight to the third quarter preliminary gdp numbers that have just come through. we have seen a slightly softer print than expected. rising 4% year on year. when it comes to the breakdown we are seeing manufacturing gaining by .2% quarter on quarter, 5.9% year on year. we are seeing a gain of .3%, softer than the .6% and a pullback from .8%. we all saw wholesale contract .8% qu

a very different story we are seeing across asia today. more importantly, this was a global epicenter of the delta variant. the region showed this moving past the worst of delta. indonesia had its biggest one month crop -- jump in 2020. this is a nice bit of news for the region as they ease up on mobility curves. we are entering that critical year and the holiday shopping season. we are going to make sure that things will be on track. >> coming out of the woods it would seem. would that be a fair assessment? >> vietnam might take a little bit longer. it does look to be that the worst is behind us. >> we see those supply chain bottlenecks at there. thank you for joining us. now we have first word news with vonnie quinn. >> india's current account balance surged on robust services exports. the current account is the broadest measure of overseas trade. forecasts were for $2 million excess. strong sales of computer services helped boost income. the unprecedented spike in energy prices are amplifying concerns. we are told the environment minist

haidi: hello and welcome to daybreak asia.counting down to asia's major market open. kathleen: and good evening from new york. here are our top stories. asia stocks may lag behind the u.s. despite the s&p 500 hitting a record high. traders are weighing inflation and covid-19 risks amid key earnings reports.

we are joined by our east asia editor john herskovitz. the significance of the new weapon we are hearing about? >> it adds to north korea's capability to fire a missile from a submarine. the new missile has a range of 500 kilometers. north korea has been trying to increase its ability to strike from submarines, but at present, weapon experts believe it only has one missile capable submarine, and it is building another one. the threat of north korean submarines are quite limited, but it gives the u.s. and its allies something else to look out for in terms of north korea's ability to strike from various sinkholes. -- various angles. rishaad: is there a jigsaw puzzle, and where do these weapons fit into all of that? >> north korea has tested a variety of new weapons designed to deliver a first-rate or survive a counterstrike, and they are doing this with the various types of weapons, like a long-range cruise missile. they've done ballistic missiles, which they launched from a train . he submarine missile, it is hard to detect undersea. they'

not just asia but globally. when you look at it from a global markets perspective, anywhere you look at, are fairly valued and from a historical perspective. i'm not sure if you have that straightforward answer of let me take another market and substitute but i think the key here is the diversification and the security selection as what gets you in the portfolio and the return you are looking for. when you look back, you will see you are able to produce those returns. the risk is always harder to call and in situations when you're trying to seem to headwinds if you on the downside. david: i want to edit to other the inflation story is transitory or not. our week entering into a tightening cycle, with sovereign yield seeing some upper pressure as of late, how is that changing your approach credit generally? guest: we are moving towards a policy normalization. we are seeing some shift in asia with korea, we have seen this and the inflation story certainly has a mix of what we would call transitory with some broad-

we're counting down to asia's major market opens. shery: from bloomberg world headquarters in new york i'm shery ahn. the top stories this hour. concerns about inflation and supply disruptions weigh on wall street. apple falls in trading after bloomberg reports it may slash iphone production targets. haidi: the i.m.f. trims its global growth forecast warning of a danger of divergence and says china faces a tough trade-off on evergrande. shery: plus we'll hear from the world bank and the a.d.b. as they weigh in on the inflation debate. here's a picture across wall street. we are seeing u.s. futures extending those losses that we saw in the s&p 500 which was down for a third consecutive session. we saw it plunge into the red deeper in the late session. and we had concerns over inflation, u.s. consumer inflation expectations, hitting new highs according to the new york fed survey. 10-year yields also falling below that 1.60% level and oil at the moment under a little bit of pressure but after edging higher in the new york session above

sophie: we are counting down to asia's major market opens. shery: our top stories this hour -- asian stocks set to track a u.s. rally with solid corporate earnings countering inflation fears. gains for netflix, delivering its best subscriber growth for the year and exceeding expectation. bitcoin nears an all-time high after a link to the cryptocurrency draw strong investor demand. haidi: let's get you straight to the start of sydney trading. sophie: keeping a close eye on iron ore minors. a bumper quarter with output beating estimates and keeping an eye on coal equities in sydney after the top economic planner said an intervention is being considered in the coal market to curb surging coal prices. check out what is going on with the aussie dollar -- holding onto recent highs. moving on to what -- where stocks are moving this morning, as we digest -- so an update there. check out beach energy. we are seeing it lose ground by more than 1%. morgan saying you have australian energy stocks likely to see a rally given oil prices. a focus on evoluti

we had the rbnz and the bok hike rates, who is next in asia?n singapore, and there seems to be conditions are right for tightening. do you think we will see from singapore? sian: we actually don't think there will be any move in their policy. we are not actually seeing any indirect impact, at least at this point, of core inflation. we think policy will remain fairly accommodative across asia. [laughter] [dr. birx] yvonne i think he agrees. rishaad: maybe if you let the dogs out. sian: five do apologize for that. [laughter] rishaad: no worries, it is great. [laughter] yvonne: sian, thank you so much. you can watch live press conference from the bok, for all of our bloomberg subscribers, it is on liv , and more comments from the governor. rishaad: will get more analysis on the global economy with some big guests. will be joined by the world bank guest, and a bank governor. this is bloomberg. ♪ lots more on the way. this is bloomberg. ♪ this is bloomberg. ♪ david: welcome back. just approaching mid-morning, the start of the session in some par

ah oh. across asia, the covey 19 pandemic is creating a catastrophe. a mountain of dangerous medical weiss is flooding from hospital and clinic. it should be incinerated. but increasingly it's being dumped illegally in ribbons, city landfills, even by the roadside with as held. kiss down far to curb, surging corona, virus, depth and infection, right? herb and weiss collected are on the front line, disposing of code 1910 lot, few syringes and other use medical equipment. i may go get that for that. yeah, but i'm but i'm bugging like it but i'm also 11 east investigates, the medical waste disaster gulping some of the asian biggest city in blue for the dose of berries. the code would not eat his bruce indonesia towards the wall than $100.00. 40000 people that died across southeast asia, most of this country the human toll can be seen at these great. yeah. on the outskirts of the capital, a reporter adi rinaldi says even for design to produce denisia, these a devastation time. just like to be here for less than an hour and i already saw i almost fan ambula

singapore is in the heart of asia. concern such as having industries being impacted? guest: we are also looking at opening up for foreign workers to come back to singapore. recently, we announced small measures. this will allow the singapore economy to remain vibrant and continue -- haslinda: my to the shrinkage work in singapore's favor, given singapore is looking to tighten this cruise? -- tighten the screws? guest: singapore will continue to remain open. we have to continue to tap on talent from all over the world to allow our economy to grow, beyond the restrictions or confines, limitation of our size. i think we will continue to be welcoming of foreign talent, but it is important to be very focused and selective. we do have a limit of comedy people we can have in singapore, therefore we need to look at foreign power that will be critical to us. this will go hand-in-hand and complement our local workforce to allow the singapore economy to continue to grow. haslinda: minister, i want to take a look at your upcoming

shery: our asia finance reporter.n has joined other finance executives in warning that inflation is clearly not temporary. he spoke exclusively to bloomberg just after the lender reported third-quarter earnings that beat estimates, boosted by a record-breaking period for mergers and acquisitions. >> the activity levels and what goes on day today is bigger than before they pandemic. factual company -- the actual company has people working every day and we are going as we go. we are doing a great job for our customers, clients, communities, and shareholders. we are still part way to getting people back at work and normalizing that. we had a town hall today with hundreds of teammates. it is feeling more normal but we have to push ahead. >> your business is fully back to the levels pre-pandemic? >> yes, production and credit cards for example, we did one million new credit card customers. that's as much as we did in 2019. if you think about the company, we are on an organic growth drive in 2016 and 2017, and we hit the pa

head of equity research from asia, karen calder. that's it for "daybreak: asia."ybreak: australia" is done but "daybreak: asia" is next. we have the australia open, though, coming up. this is bloomberg. it's moving day. and while her friends are doing the heavy lifting, jess is busy moving her xfinity internet and tv services. it only takes about a minute. wait, a minute? but what have you been doing for the last two hours? ...delegating? oh, good one. move your xfinity services without breaking a sweat. xfinity makes moving easy. go online to transfer your services in about a minute. get started today. shery: hello from bloomberg's world headquarters in new york. sophie: we are counting down to asia's major market open. haidi: welcome to daybreak asia. our top stories this hour. asian stocks look to follow the rebound on wall street as traders weigh inflation and energy costs against the pandemic recovery. sounding the alarm on chinese stocks. big firms

oh, across asia, the covey. 19 pandemic. he's creating a catastrophe. a mountain of dangerous medical waste is flooding from hospital and clinic. it should be incinerated. but increasingly it's being dumped illegally in ribbons, city landfills, even by the roadside with its health kids. tom thought to curb surging corona, virus, depth and infection, right. herb and wife collected are on the front line, disposing of code 1910 blood, few syringes and other use medical equipment. i'd like for that. yeah, but i'm, but i'm begging, like in banging. if i don't buy one or one east investigate the medical waste disaster gulping some of the asian biggest city in blue mirror, the deals of berries of clothes, 19 his brooks, indonesia too late wold in 140000 people that died across southeast asia. most often this country the humans hol, can be seen at these. great. yeah. on the outskirts of the capital, a reporter adi rinaldi says even for design to produce denisia, these a devastation time will just like to be here for less than an hour. and i already saw i almost

oh, across asia, the coven! 19 pandemic is creating a human catastrophe. a mountain of dangerous medical waste is flooding from hospitals and clinic. it should be incinerated. but increasingly it's being dumped illegally in rivers, city landfill. even by the roadside with its health kit fact to curb surging corona, virus, depth and infection. right. herb and wife collected around the front line, disposing of code 1910 blood field through injury and other youth medical equipment . i thought i did, but i'm but i'm bugging like with one or one east investigates, the medical waste disaster. you go bring some of the asian biggest cities . blue mirror. the deals are buried because not heat is bruised, indonesia towards the walden, 140000 paper, the die to call southeast asia. most often. this country the humans, hol, can be seen at the great. yeah. on the outskirts of the capital, a reporter adi rinaldi says, even for design to produce denisia, these a devastation time will just like to be here for less than an hour. and i already saw i almost fan ambulances com

we are counting down to asia's major market opens. >> welcome to daybreak asia. our top stories this hour. asian stocks set to fall as yield curves flash warning signals. >> china look to cap all places to ease a power crunch. >> we are awaiting final third-quarter and is with a big profit jump expect from ship and phone prices. >> let's get you to the start of trading in sydney. this is the first of the big four to release those numbers, samsung. we are expecting broadly a softer day when it comes to asian stocks among concerns from the pandemic and elevated inflation forcing monetary policy. quite a lot of action when it comes to the bond space as well. the deli trading at 75.15 -- .7515. >> take a look at futures trading higher. we are seeing u.s. futures jumping .2%. this after we had the s&p 500 falling in the regular session. really under pressure after seeing the regular floating hi. it was all about -- high. it was all about corporate earnings. the chicago nikkei is up. we continue to see this downward pressure on the japanese yen against the u.s. dollar.

oh, across asia, the coven, 19 pandemic. he's creating a human catastrophe. a mountain of dangerous medical waste is flooding from hospitals and clinics for it should be incinerated. but increasingly it's being dumped illegally in ribbons, city landfills, even by the roadside from india, with it's called coast star fart to curb surging corona bar, stetson infection. right. good wife collected around the front line, disposing of coby ne, his blood, few syringes and other youth medical equipment. i thought i did, but i'm but on the budget likelihood we're doing 111 east investigates, the mid waste is often gonna bring some of the biggest cities blue for the deals are buried. the covey 19 has bruised indonesia, 2 more than 100. 40000 people have died across southeast asia, most of this country. the humans hol, can be seen at the graveyard on the outskirts of the capital. a proposal adi rinaldi says even for design to produce denisia, these a devastation will just like be here for less than an hour. and i already saw i almost fan ambulances coming in. and there t

today. walden, 140000 people that died across southeast asia, most populous country. the humans, hol, can be seen at these. great. yeah. on the outskirts of the capital, a reporter adi rinaldi says, even for design to produce denisia, these a devastation time just like to be here for less than an hour. and i already saw, i almost fan ambulances coming in and they're just waiting for, for the inside to, to drop off the money. it's pretty hot breaking. i mean, well, someone father, someone's mother. they are off one of their family. and this don't have any words to describe with with more than 4001219 cases recorded throughout the archipelago. audi is investigating the long term impact the health system buckling under the strain. today he's abusing to causes university of indonesia hospital, which i see present to patients had covey dot t stop. he is an overwhelming amount of medical weiss is being generated. is the battle to treat the virus fundamental lender. a citi card in the us duty is managing sanitation at the hospital to not afford robin bye for infecting your s

prices in asia are at the highest ever seen in the area. you can just layer on the fact that the largest coal producing region which just hit by severe flooding, and that adds and compounds the threat to the company already destroying power supply. let's take a look at aluminum. it is at a 13 year high in london trading. many of the industry insiders kind of joke about aluminum being solid electricity because it takes an anonymous amount of electricity to make one ton of aluminum. incidentally, it's probably no small supply -- surprise that china aimed its energy conservation measures at aluminum producing for that very reason. it is very big in terms of energy or electricity. haidi: what is the outlook when it comes to what prices will look from here? wax let's take a listen to danny with ihs, because he thinks it's going there. >> i think it could go to $90. what has happened is, in addition to everything else happening, people around the world, particularly in europe and china are switching from some natural gas and switching to oil. sud

now as we move to east asia, it's been robert dry across central parts of china. well, that is going to change on wednesday. we've got a bit of a winter we mix blowing in. we are going to see the temperature. dip downing will, is what is in shanghai as that wet weather arrives. but further south for hong kong, it is looking dry, the temperature sitting in the high twenty's. and it's a similar story in beijing. it is feeling a little bit cooler and the air quality is rather unhealthy. ah, the talk to al jazeera, we all get what gives you hope that it is going to be peace because the situation on the ground seemed to be pointing. otherwise we listen. we were never on the whatever road to off migration we meet with global news makers until about the stories that matter on al jazeera, we understand the differences and similarities of cultures, the cost, the amount of what we can use and kind of follows that mattel, to you lou ah, the breaking news this monday here on al jazeera is the death of former u. s. secretary of state colin powell passed away from cove at 19 co

as britain stations two more warships in the asia region, the commodore of the carrier strike force tells bbc the thinking behind the strategy. one third of the world's trade flows through the south china sea, the growing economies here, so it's natural that the uk, you know, wants to have a presence and a say and be involved in this really important region. important new data from the uk shows that one in six of those most critically ill with covid—19 are pregnant women who've not received a vaccine. and captain kirk takes a real life journey into space — the 90—year—old actor william shatner explains why. live from our studio in singapore, this is bbc news. it's newsday. it's 6am in morning in singapore and 1am in istanbul, where turkish authorities have boosted security on their border with iran and warned they won't accept an influx of migrants and refugees fleeing the taliban in afghanistan. many afghans make the journey through iran to turkey hoping to travel onwards to other european countries. turkey already has the world's biggest refugee population of around 4 million people. ou

sophie: looks like they are shaping down with asia stocks ready by north asia, the kospi seeing 3000day of losses with samsung among the biggest drags ahead of its third-quarter results do this monday. over in tokyo, retail and softbank, weighing on the nikkei as well as the topics. we're seeing energy names lift this morning. switching on the board to focus on australian bonds, do from australia this weekend, we do have the aussie 10 year yield with a 3/10 curve. flattening early in the asia session, we are seeing treasury yield resume gains with march high pricing, two rate hikes, nearly two rate hikes, and yields back above 1.54 this morning. and don't be surprised if we see 1.8%, 2%. inflation shows no signal of abating just yet, given pulling up the chart on the terminal, commodities showing little signs of abating. you have the bloomberg gauge, stock prices rally in 5% lows, pandemic lows with oil, gas, and coal leading the advance. brent above $85 a barrel, could be set for a 10th weekly rise. i oil prices have been a boon for copper. haidi: speaking with energy, the top world

so guess from china and asia, japan, korea. why? because there is more demand for gas because of energy transition going from court to gas, which is good for climate change. and also because there is more requirement from time to zation form middle class in china, there was also vizier, some events like less i drew and lesser chord kept capacities of production, which of increase the lot. so chinese demand. so the president of the federation of russia is perfectly right when he said that in fact, and we are producing energy, you know, we are the single largest hotel in as his producer village in the world. so we are producing an energy in the us and it's clear but this year because of his i can them. and in china i, our prices came into asia for gas and all the ellen g from the u. s. most of it went to asia because the european bucket was lower. so that's a fundamental reason why. then in europe, you have less, yas, coming into the system, not from russia at all, but in fact, from the global market and the european smits fitness und

talk further delays in getting goods back around from asia.— around from asia.ope, in the next week or so, his puzzles are going to arrive. what is the processing time looking like today? is it any better than it was two or three weeks ago? i today? is it any better than it was two or three weeks ago?- two or three weeks ago? i won't comment _ two or three weeks ago? i won't comment on _ two or three weeks ago? i won't comment on the _ two or three weeks ago? i won't comment on the initial- two or three weeks ago? i won't comment on the initial times, i two or three weeks ago? i won't i comment on the initial times, but uk ports are doing quite well on an individual scale, ports are doing quite well on an individualscale, but ports are doing quite well on an individual scale, but dwell time — the time before it is collected, usually by a lorry — this is the peak point, coming up to early october, getting all those goods into go to factories, to distribution centres, to other facilities in factories, to distribution centres, to otherfacilities in preparation for

>> welcome to "daybreak asia." >> our top stories this hour, a big day for big tech. apple and amazon results disappoints, wiping up to $2 billion in market valuation. investors cautiously welcome facebook's new branding. every brand faces default -- ever grande faces default. democrats begs democrats to back his agenda warning political futures are at stake. >> breaking news out of south korea, we are getting the latest industrial production numbers when it comes to the year on year numbers, we are seeing outperforming, 1.8%, really missing expectations of a gain of 2%. it would also be the first time we are seeing a contraction in south korean you're on your ip numbers since october of last year. when it comes to the month on month numbers, there is a contraction of 0.8%, which is a bigger contraction than was expected. for the reason we are seeing more pressure when it comes to manufacturing given that only the slowdown in china's economy, but the supply chain disruptions continue to weigh on production. you're

southeast asia, particularly in parts of asia, they had a head start in the beginning. zero-tolerance. didn't quite work as well. so now it is a drive to -- a move to get vaccination rates backup. those vaccination rates are catching up quickly. once we get those up there, we will see normalization in activity levels that will help with the overall economy in southeast asia as well as much of the emerging world. rishaad: developed countries have opened up with much more freedom than this part of the world, certainly, but as asia begins to reopen, what are the industry groups looking at which haven't priced this in, and give us some of the names perhaps that are carrying the torch. lorraine: which has been interesting is one year ago, during the pandemic, we did see a huge adversity in the performance among the sector groups. we have seen about valuations within the sector, the gap between sectors is a bit more difficult. having said that, i think there are certainly places where we would look, that have basically come off. he picked the policy side, the opportunities in

set to make a bid for the citigroup asia unit. suppliers of what tesla are what we are tracking. when you look at these third-quarter profit projections, it sees them being able to surpass that. you have supply chain issues. shifting to cheaper lithium batteries already tried over and china. what does this mean for the whole gamut of suppliers and companies within the value chain of tesla? let's bring in our bloomberg transport coverage. good morning from hong kong. who does this benefits the most? >> i think it certainly will benefit the makers of these cheaper lithium-ion batteries globally. we are seeing shares of korean battery makers falling this morning. tesla has a number of challenges it needs to address on the supply chain front and also the semi conductor shortage and one of the things that the cfo talked about this morning was the higher price of nickel some of the cost seven flowing through to the company. he was also talking about the clear on margins. it is going to be negative in the short-term and put it little pre

is it more clear or ready in southeast asia?ore clear what the fintech landscape looks like in terms of fostering innovation? raj: i think what is exciting about southeast asia is it is not clear at all. there is so much slack of infrastructure, basic fundamental rails of banking you are missing, it gives you an opportunity to filled companies from scratch that are innovating on how things like payments and credit are being given. investing in a company with accounting software for small businesses. but they do the accounting software to they can understand how the cash inflows and outflows of those businesses work. they lend to those businesses and help banks lend this businesses if credit ratings don't work as well this markets. caroline: as regulation grows up around it, how do you get them to understand what is going to be fostered? how do you ensure you are on the right side or your businesses are? raj: it comes down to does it do well for consumers. governments understand if you do right by consumers, we are making a lot o

that is it for daybreak asia.nues as we look ahead to the start of trade and hong kong. hong kong is actually close on holiday. this is bloomberg. ♪ ♪ david: this is my kitchen table and also my file to him. over much of the past -- filing system. over much of the past two decades, i have been an investor. then i started interviewing. i watched your interviewing. i have learned how leaders make it to the top. >> i asked him what she wanted, he said to 50, is it

asia is doing well .announcer: -- asia is doing well. philippines and malaysia, mixed bag across the board. yvonne: we have su keenan in new york. su: antony blinken in the spotlight, criticizing china's actions towards taiwan, saying they are provocative and destabilizing. china has ratcheted up attention, sending scores of warplanes into its air defense identification zone. lincoln said those sorties could escalate the situation and result in unintended consequences. >> what i hope is these actions will cease because there is always the possibility of miscalculation, miscommunication , and that is dangerous. >> meanwhile, treasury department officials are debating to ask whether they should ask their imf acting director to resign. they designed pressuring bank staff to rule in china's favor. the u.s. has the biggest share of the imf's voting rights. in russia, president putin has intervened in the energy market, offering to stabilize europe's gas crisis and saying russia could potentially export record volumes of fuel this year. his de

welcome to daybreak: asia. top stories, asian stocks dipping.all street delivered a mixed verdict on big tech reports today. u.s. dance china telecom over national security risks and beijing signals reluctance to rescue evergrande saying its founder is hiding a fortune. haidi: when it comes to the rest of trading in asia, australia coming online. we have been fleshing looking to have -- inflation looking to ease but what would be expected as higher, the s&p a little bit soft. new zealand seeing downside of .5%. nikkei futures up .1%. we had a pretty good session opener. record highs again, in particular when it comes to tech. we had the drop in facebook. it is pretty unusual with the overall momentum. in terms of what we saw, microsoft had a robust reading. an 11th straight quarter we are also looking at expectations. kathleen: something near and dear to the heart of anybody in tech is chipped and the supply constraints have hit everyone from automakers t -- automakers to tech manufacturers but it looks like the wee times are beginning to slow.

plenty more to come on "daybreak asia."is bloomberg. ♪ haidi: a quick check of the latest business flash headlines this hour. purchases of louis vuitton bags and other luxury items surged after stores reopened from lockdown. asia, excluding japan is the biggest region, coming for 36% of sales, followed by the u.s.. general motors has reached a deal with lgt recruit $1.9 billion linked to a mass factory recall. gm had to recall 130,000 chevrolet volt ev's after batteries caused a fire. it cost the carmaker $2 billion. the company say they will continue working together on new race. glaxosmithkline is said to be joining by off interest in what could be the biggest private equity takeover on record. the business could be valued at $54 million or more. cbc r is among the potential suitors. shery: take a look at the commodities space. oil still above that $80 a barrel level. we saw pressure on copper prices given the imf just cut their growth forecast for the global economy. coffee soaring to a seven-year high. surprise concerns

there are concerns in asia.er chinese property developer potentially defaulting, but china on holiday today. brent crude above $81. let's stick with that story with wti also climbing to its highest and almost seven years. opec+ sticking with it slow and steady plan of production increases. the cartel and its allies have agreed to at 400,000 barrels in supply, but many were expecting tightness to prompt a boost as much is twice that amount. joining us now is bloomberg's middle east energy and commodity team leader. why did oil prices jump after the opec+ announcement, which was largely foreseen? >> yes, as you said, this was pretty much the result markets had expected. opec+ saying it would increase by 400,000 barrels a day in november, but there were clearly a lot of traders positioning for something more aggressive from opec, or at least bigger than planned output increases next month. i think that was partly the reason oil jumped so much. beyond that, it was not just about what opec did, but how it did it. i t

still ahead on the news, i will take you to asia's biggest arms for getting underway this time, or rising tensions around the region. and his school, this former world number one hits the jackal in las vegas. ah, hello there, let's look to the middle east and levant, and we're seeing some cloud pulling across eastern areas of the mediterranean, bringing some wet weather to syria, and to parts of lebanon as well. and that's thanks to a weather system. it's blowing across the black sea towards the caspian sea. we are going to see some heavy falls around coastal areas of iran. we could see some localized flooding with that rain, but further south it is looking a lot dryer. a lot finer as well. some misty mornings in katara and some cloud cover remains on tuesday, but it does ease on wednesday and that wind will die down. it's looking very hot across western areas of saudi arabia. and as we move to central africa, we have seen those hot and humid conditions continue across the democratic republic of congo, as well as the central african republic. those clusters of storms are going to continue

the asia pacific region is witnessing and intensifying arms race. some nations are acquiring weapons in response to china's military growth intentions around north korea is weapons programs. skyler has more or one of ages biggest markets for arms dealers and their clients military shopping for the latest technology and weapons kicks off this week in south korea at the so a dex trade show leaders in defense ministries and officials for 28 countries will look to strike deals as the world starts to move on. after the pandemic. sha pretty heavy interest from countries in se, asia, africa, and central and south america. this was confirmed with follow up with inquiries for products and parts as well. this rising interest and weaponry comes at a crucial time for the asia pacific region. north korea, just last week, put on a show of its latest weapons systems, vowing to build what it called an invincible military neighbor and a dex host. south korea is the focus on new technology to counter its rival to the north and its continuing development of nuclear we

we are leaving asia. asia picks up. we are going back to asia. here you have a major german bank saying we have got to get on board base metals. jonathan: this was what, eight years ago, when they left this particular business? now they are talking about going back into it. great reporting from sri natarajan on deutsche bank. i guess the good news for deutsche bank investors is we are no longer talking about trying to cut our way to growth. they are looking for sources of that growth now. maybe that is the upside to this story. tom: i would do a quote on aluminum, but i can't find it. save me. jonathan: go to metals, go to aluminum, is at the top. we are positive 3%. lisa: what is going on? he is saying aluminum, you are saying alumin-ium. jonathan: that's what we do. [laughter] tom: the vix comes in. it he cares. -- nobody cares. lisa: i care. tom: yes, you care. [laughter] jonathan: david riley from bluebay on the program saying there's more space for this one to correct higher. what does that mean for this market? tom: we will have to see. on

this is it for daybreak asia. is my kitchen table and also my filing system. over much of the past three decades, i have been an investor. the highest calling of mankind i often thought was private equity and then i started interviewing. i have learned from doing my interviews how leaders make it to the top. >> i asked him how much he wanted and he said 250. i said fine. i did not negotiate with him. i did no due diligence. >>

there is broad risk on sentiment across asia.samsung earnings beating expectations and rising $.25 in the last quarter when it came to operating profits. samsung electronics think it's best day since september 17. the kospi continuing its rally and extending those gains after seeing the best day since march. we also had the passage of the debt ceiling cap in the u.s. by the senate. that will go to the house and takes a little bit of that risk off when it comes to a potential u.s. default. getting delayed potentially until the end of the year. that is one less risk to worry about for the markets. the asx 200 up 7/10 of 1%. he restocks are also gaining ground. -- kiwi stocks are also getting ground. paul: still to come, our guest things inflation pressure will not abate quickly. an economist will explain why you have a grand crisis is the result -- why the evergrande is the result of an unsustainable model. our coverage continues as we look ahead to the start of trade in hong kong and shenzhen. china's markets returning to trade af

shejoins has looked into lockdown easing in asia. she joins we now live from manila.of stop and start approach across asia with mixed results. what is your outlook for when this region can really start to put covid behind them? the challenge — put covid behind them? the challenge now _ put covid behind them? tie: challenge now with covid put covid behind them? ti9: challenge now with covid is the rapid spread of infections all over the country to greater variance emerging. now we are seeing the delta environment doing my variant which is highly transmissible. so seen the lockdown is really a challenge it is difficult to say at the present.- challenge it is difficult to say at the present. what is the bi est say at the present. what is the biggest issue _ say at the present. what is the biggest issue do _ say at the present. what is the biggest issue do you _ say at the present. what is the biggest issue do you think- say at the present. what is the biggest issue do you think for. biggest issue do you think for countries across asia that are trying to deal with opening

tell us more about the pivot to asia you refer to.lier this year to invest around 6,000,000,000 in the region, didn't they?— didn't they? they did in the seat ? indeed. _ didn't they? they did in the seat ? indeed. hsbc- didn't they? they did in the i seat ? indeed. hsbc grabbed didn't they? they did in the - seat ? indeed. hsbc grabbed the seat? indeed. hsbc grabbed the most profitable driver of its growth coming from the asian private wealth management business, so retail as well as ultra—high networks banking in asia is the core focus for hsbc. there is going to be a tricky needle to thread for hsbc to thread because they are 7 hsbc to thread because they are ? there are political headwinds to navigate between us and china trade tensions and they were supposed to have abated under president biden but have not done so yet, so this will be an important consideration as hsbc looks forward. there's also political — as hsbc looks forward. there's also political tension _ as hsbc looks forward. there's also political tension between. als

and europe, but also in asia.estically the vaccination program in japan is accelerating as of late. we think the domestic reopening should and that market. as i said earlier with energy and financials, if you are looking at a global market that benefits from rising u.s. yields and tighter u.s. policy, it is japan. a market people tend not to own much of, we think it is a useful hedge when you think about concerns about u.s. interest rate. dani: in general with china closed, japan has been hit hard, perhaps as a release valve. we have seen asia high-yield debt get hit hard by evergrande. your choice. do you think some of the second-order effects are overdone? kiran: i think in terms of the second-order effect, we would say that is overdone. there are genuine challenges china is facing, but in terms of regulation in the property sector, does that transmit beyond china into markets like japan? we think not. china will need to adapt to a different growth dynamic. that will have effects on individual companies around t