use asia. why? hong kong jail 5 speech therapists were drawing children's concerts and what these portraits in india, queen elizabeth, the 2nd se about her legacy in south asia. as stories with my colleague, parish manager, official break, i'm been f as will and i'll be back with more news next out with him when you work as an architect, like go online or not at all women in architecture. why are they so invisible to the larger public? we decided to ask them, mrs. i, what is the poetry, the secret of the house? and i'm house about their motivations. though, if you goal of architecture is to create habitat for human about their struggles and dreams are sponsibility of huge. they have so much to lose shattering the glass ceiling women in architecture this, this has to be really, really good. start september 30th on d, w. this is, did have their nearest a shock coming up to date stories of wolves and sheep in hong kong, published in children's books of court in the city called them seditious. it's now

bonnie: this is "daybreak asia".hundred thousand people have evacuated their homes in central vietnam ahead of the arrival of the typhoon. the strongest storm the country has seen in two decades is due to make landfall, leaving heavy rain and potentially flash -- flash floods and landslides. it will a harvest in the world's coffee producer. hurricane even -- ian is u.s. history as it heads for florida's western coastline. a prompted mass evacuations, school shutdowns and thousands of flights cancellations across the state. damage and economic losses could exceed 45 billion dollars. it's forecast to strengthen through wednesday, bringing storm surges into the tampa bay with heavy rains across the u.s.. sources tell us the european union is consider banning its citizens from russian state owned companies and turkish bank has said to exit the electronic payment system after u.s. warnings. we are told all three remaining lenders have decided to pull out. u.s. vice president kamala harris has divided north and south korea

that's it from daybreak asia.e continues as we look ahead to the start of trade and hong kong, shanghai and shenzhen. standby for bloomberg markets china open. this is bloomberg. ♪ as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable 5g network. with no line activation fees or term contracts. saving you up to $500 a year. and it's only available to comcast business internet customers. so boost your bottom line by switching today. comcast business. powering possibilities. ™ >> somebody says i want to have an impact on society, what would you suggest somebody do to work their way up? >> you have got to believe in something you really care about. david: this is my kitchen table. it is also my filing system.

the objective idea here is that we can call it east asia or the asia-pacific region. i think that the 21st century points us to the future of the so -called far east or the western pacific. here are some scientists who said that such a gate is a step. blenie general director of sibur mikhail kresalov mikhail yurievich hello the key thing is that it has become quite fast, it is clear that this is a challenge, of course, to ensure production. it has become so, probably the largest enough. successfully we managed this. here is the complex behavior of our western partners. we had equipment and special materials in our portfolio, chemistry from russian manufacturers, suppliers from asia, now it has, well, a multiple, of course, increased, in principle it is passing, the second is logistics and sales. there is such know set of factors. first market rebalancing. i must say that at the beginning of the year in our portfolio of general food products , on average, deliveries to europe amounted to about 25-30%. it's hundreds. what is he products of polymers synthetic rubber gase

and also the monkeys of central asia and iran. in addition, the sco family includes three observer countries. and so, now 14 countries of dialogue partners are taken into account. here are the latest decisions of e samarkandi in other words, e, sco is an absolutely independent fact of the world political landscape, which sets an example in promoting dialogue in the most diverse cultures of civilizations, and, of course, make a sleepless contribution to the formation of a new multipolar just world order. and here is the expansion of the organization. this is just one of the examples of the fact that it is developing, in your opinion, what practical result does membership in the organization give, and given that there are obvious contradictions between individual countries, does the organization avoid sharp corners. well, as you understand, the difference in approaches and views towards solving certain problems is a characteristic feature for any international organization, and the attractiveness of the sco is certainly not an excep

k. depleting and the coming years in south asia. ah, no, i think the connection remains strong and it is unlikely to deplete the do we need to understand the colonial legacy is not just about oppression. and subjugation. there are cultural aspects to it as well. the language, the literature, the art, the media, the mode of governance, the countries like boston, india or bangladesh, new ball have so much in common with the u. k. that gonna be undone, at least not in the near future, and green elizabeth's demise. one change that the roots are, the tires are deep rooted and the connection is very strong and it will remain strong. it's not going to go away from and we'll leave it there for the time being . thanks so much for joining us today. sean williams, thanks for having me on the show. and relieve it today with the images of queen elizabeth in south asia. and we'll see you at laura. ah ah ah, every journey is full of surprises. we've gone all out to give you some time. one day in the footsteps of the great hall. i'm in your norther

southeast asia and asia across the board is the harm of -- the hub of startup activity.behind the u.s., 34% of startup investment is given to asia, just one point in the u.s. so it is pretty significant. haslinda: it is significant, but we are at a time when everything is slowing down and we are expecting a global recession. southeast asia will not be spared. ahmed: we have a unique opportunity is microsoft in this world today where we are building digital perseverance to ensure companies become resilient. and we are seeing tech grow as a percentage of gdp from 5% at the start of the decade, to 10%. we see continued digital enablement. haslinda: is there a sector putting in more investment into technology and advancing the capabilities? ahmed: two quick examples. i was in japan recently and kawasaki, a core manufacturing company, is using microsoft's hollow lands and easy digital -- to create productivity. smbc, a bank in japan, is working in southeast asia create green financing. it is an opportunity to enable, to create a resilient economy in the future. haslinda: how

south asia becoming stronger actually.o there is no safe haven, but we can see that the market could be vulnerable to what we are seeing in korea or in taiwan. so this would be one of the takeaways from what we are seeing in the currency market at the moment from an equity point of view. yvonne: you mentioned those markets are there markets you see that our next in terms of following that trend? i wonder if china is one where we are seeing the lows in stocks . u.s. to see line after line of the reopening story and hong kong, macau. does that give you confidence that we have seen a floor in chinese equities? >> chinese equities are an outlier in asia because of valuation standing, which is beyond distressed now. when you look at hsci, the risk premium that we have never had such a low valuation it so some kind of flow is coming from that. then the chinese market is something that can be useful in the context, a lack of correlation with global markets. so we have quite low expectations when it comes to kobe to policies being

♪ >> you're watching daybreak asia live from new york, sydney and hong kong. >> counting down to asia'sajor market opens. futures pointing to a risk off friday after wall street tumbles to a 22 month low with turmoil in europe stoking fears of global recession. treasuries under pressure too is yet another group of fed officials send a hawkish message on borrowing costs. a tough day for u.s. tech giants. apple shares buckling after a rare downgrade while medic cutting hit counts. that headcounts. shery: better news on the eco-front coming from a bellwether. we are getting industrial projections for the month of august. steeply underperforming. already bad expectations. seasonally adjusted month on month coming in at a contraction of 1.8%. analysts had expected 0.8%. it is worsening the dip we saw in the previous month of july of 1.3% contraction. the -- number coming in at 1%, on par with expectations. slowing from the 1.5% in the previous month. cyclical reading index changing as well with the contraction of .2%. signs of stress. we saw inventories in manufacturing giants seeing a big b

's asia today. ah, the damage bill for pakistan to top $10000000000.00 recovery funds are tight and experts right. and it could take months for the flood for him to receive homes and businesses as a bud store don't even exist anymore. reconstruction is impossible, right now. thousands of the small factories and kilns across the country have been extinguished. the supplies of bricks needed for rebuilding are also under water rashana lee and his son, the mom have lost everything. they put their savings into building a house which they finished only 2 months ago in the sudden province of sind, the floods have wiped at their home and all their hopes. less than maybe one but a good day. yeah, i worked my whole life to build his house. i've never owned a house before. who was so happy when we finally managed to save enough to build it . i don't know whether that will ever happen again. he hugged me again. ali and his son are both carpenters. he mom bought some materials and started building a workshop, bu

asia welcomes you and today our mobile. it can be said that the nomadic studio is in samarkand a real place of power instead of power, not because of its powerful history. and not even because the terrible conqueror is buried here. tamerlane is not present these days samarkand has concentrated a new global force in the face of the shanghai cooperation organization, therefore we are not in an ancient city, but in a new complex, where the sco summit was held, it was at the samarkand summit that it finally became, clearly if someone still had doubts, there can no longer be any unipolarity in the world, which creates a new geopolitical landscape with such dominants as mutual respect, trust and constructive equal cooperation. today we will talk about what the sco is for central asia. but we will not limit ourselves to this topic also in the program, what did the pope see on the flag of kazakhstan, who sets fire to the region, provoking border conflicts? why did the discussion about the death penalty and the exciting chases of os

that is about it for daybreak asia.inues looking ahead to the start of trading in hong kong. and also continuing to watch for these risk factors for the yuan. is there the potential for a further slide given downside risks continue to build for the chinese economy? all that and more. stay with us. this is bloomberg. ♪ david:

they are sending stocks down in asia because we have got futures for australia and asia trading like this. we are also watching the currency space, so we could see more yen intervention from japanese authorities. otherwise, we are watching for other currency crises from the likes of india and chile. taking you now to other index spaces, we are watching what is happening in the offshore yuan this morning. the onshore currency is falling to the lowest end of the pboc band since 2015. certainly a lot of pressure building on policymakers in china ahead of the key party congress in mid-october. in terms of other currencies, the euro is also fluctuating a bit this morning as we await the core election results of the election in italy. exit polls indicating that giorgia meloni's alliance could be untracked to win them the majority. they are also watching what is happening in the pound this morning, extending those losses in the early morning trading. ing saying that markets could be underpricing the risk of hitting parity with the dollar. there is a 25% chance of that happening in the next

today , northeast asia has become one of the most legions of the world, strengthening cooperation on the development of the far east provides an important opportunity. joan of security and prosperity in the legion and in this regard i passed to express and the following proposal and firstly i draw initiative on global security for peace and stability in the legion 4 years ago, the chairmen said that a harmonious, trusting, cohesive and stable asia is in the interests of all countries and the desire of the world community to create a harmonious and peaceful legion as a common home there is no other choice but to unite efforts to adhere to the overall concept of comprehensive and sustainable security. pinchit to abandon the game of refereeing and the mentality of this cold war is important to strengthen the dialogue of partnership and solidarity they create a confrontation bloc and razgu should adhere to the indivisible security of their own security based on respect for the security of others and ensure the security of all, thereby make a positive contribution to maintaining peace and

for more on our stories on d, w, use asia to day go to our website to help you dot com slash asia. i'll see you tomorrow. bye bye. people and trucks injured when trying to flee the city center. more and more refugees are being turned away. order families please. on the theory for the credit on it is we load demonstrate people fleeing extreme ross getting 200 people had signed for june around the world. more than 300000000 people are seeking refuge. yes. why? because no one should have to flee. make up your own mind. d. w. made for mines. ah, ah, britain get the new prime minister. but the painful price of energy has consumers worried. the government is out of touch with their concerns. also on the show, we take a hop around the block to see how e u countries are preparing for high gas prices and cold and the cold winter ahead . we'll hear from our correspondence. welcome to the w business. i'm christy flotsam, a new prime minister and the same old problems as she moves into 10 downing street . liz trust, inherits a country in crisis from her predecessor, boris johnson. a weak econo

we go now to asia. the asian development bank has cut its forecast for economic growth in developing asia and the pacific, once again pointing to both global as wells regional challenges. now the region faced the several obstacles. central banks are tightening policy, which will curb economic activity rushes. invasion of ukraine is having global knock on effects. and of course, the ongoing cobit 19 pandemic is resulting in massive locked downs in the regions economic driver, china. the adp has now cut china's growth forecast for this year to 3.3 percent from a 5 percent projection in april. it would be the 1st year and more than 3 decades that the rest of developing asia would be expected to grow faster than china. now once you take out china, the rest of developing asia is projected to grow by 5.3 percent, both in 2022, as well as next year. the albert park is chief economist of the asian development bank. i asked him how important chinese pandemic approach remains for how its economy warfare. well, of

ah, i british banded, you're welcome to d w. news asia. glad you could join us a rare but divisive state funeral from bad form a japanese directions or abi, has been held in tokyo. mourners took their seats in a large hold before a giant or trait of alby. he was shot and killed on the 8th of july, as he made a campaign speech in the city of nara foreign leaders, including us, vice president, pamela harris, and indian prime minister in modi. bought an attendance cut from mister from york issued up said this in his tribute he data all night he got critical to law who could have predicted, even in the slightest that such a day would come up as i and at the law abbey, son, you will some one who needed to be kept to lie for a long time. he met a night sto, disha. the point though sick. i don't. i was convinced that you would do your best for the next 10. almost like you know, 20 years. yeah. as a compass that showed the future of japan and the world with extreme change. but not all feel that way. protest as opposed to the state funeral, marched

within asia itself, china is still a very big component of asia next japan. we currently set up a neutral fund from china. policy-wise, we have seen stimulus, and there are some measures, but you still have that very stringent covid policy and therefore asian markets as well. haslinda: dollar strength easing a little today. what might, i guess, stand in the way of that? >> i think all eyes in the near term would be on upcoming cpi data. still hovering slightly above 8% . i don't think that is enough for the fed to pause or ease. i think 75 basis points is very likely. we do anticipate growth becoming more apparent and the potential between the fed and other central banks narrowing. haslinda: thank you. let's go to first word news with su keenan in new york. su: we start with china's consumer inflation unexpectedly moderating in august while producer price slowed more than expected. cpi rose 2.5% from a year earlier and ppi gained 2.3% last month compared to 4.2% back in july. bloomberg economics says the data gives policymakers more room to stimulate the econ

over the years, uh we had close ties with region of central asia for thousands of years and in 2019 we announced a new initiative to restore ties with asia since then we have been working tirelessly to continue to strengthen and expand our historical ties with asia with our land the land of our ancestors of the shanghai cooperation organization is a very respected , a reliable platform in the asian region through organizations and promote the ideas of tolerance, assistance and cooperation. we sincerely believe that well represents our diverse culture in asia that is why we attach so much importance to strengthening our relationship with a government organization, thanks to our status as dialogue partners, which we received 10 years ago. we are taking this opportunity to develop our ties the energy meeting was held in istanbul under 2017 and the third meeting of the high level group was also organized in ankara. this was an unprecedented step for a country that is not a full member of the organization . we understand what we bear responsibility. this is further emphasized by the closene

the more on our stories on dw use asia today. go to our website, dw, talk com slash asia. i'll see you tomorrow. bye bye. departure to the to day this meas, flying to a foreign planet. in the 16th century, it meant being a captain and setting sail to discover a route. the world famous c. voyage of ferdinand magellan. i'd rather erase linked to military interests, erase linked to political and military christy. but it was so linked to many financial interests and adventure full of hardships, dangers and death 3 years and that would change the world forever. my jillions journey around the world starts september 7th on d. w with ah, britain, get the new prime minister with the painful of energy has consumers worried? the government is out of touch with their concerns. also on the show, we take a half around the block to see how e u countries are preparing for high gas prices and cold and the cold winter ahead . we'll hear from our correspondence. welcome to the w business. i'm christy flotsam, a new prime minister and the same old problems as she moves in a 10 downing street

southeast asia is going to be really important. there has been meetings. the economic package that was rolled out was not very significant. also, the administration's rhetoric, i don't think it is well tuned to the context which is focused on sovereignty. i think we talked in the past but nationalism may be a dirty word in the certain precinct in western europe. but in these places in asia were it represents freedom from colonial rule. i mean, independence and national self-determination. that is a big word. i think there is a lot of rhetoric in the in the pacific and the rhetoric of the trump administration, they were better tuned to that context, where you have to move people and persuade them but it is not about imposing a certain one particular vision of what life should be. but it is allowing people to have the independence and freedom to determine their own future. that resonates. that is something china particular does represent a threat to. almost like a human elemental level, the sort of increasing illiterates and assertiveness -- belligerence and

the dollars mixed across the asia fx.sting strength for the one, the rupiah -- you are seeing strength for the won rupiah, and the peso. we have seen strength overnight. we might see a intervention according to reuters. golden week holiday, of course before that. we're are on track for the worst quarter since inception. david: yeah. i think the onshore is worse than in 18 years, since china open its economy. well, speaking of trade. a lot of things to consider. we have the new exporters coming out, with the pmi numbers coming through. that dropped to 47. tomorrow, we have the south korea's monthly numbers coming up. that is expected to drop, between .1%. that's a second if -- bit of proof of slowing trade, when you look at that elevated substantially in europe and the u.k., it shows the point that was made, we have him talking about business drop and where you see some order and expected chaos, is how they are framing that report, because of asian currency depreciation on the back of slowing and weakening external demand.

what a monday morning in asia, _ singapore. what a monday morning in asia, as - singapore.ore. what a monday - morning in asia, as the markets open. as you mention, sterling tumbling to a record low. we now know it is an all—time low, because decimalisation was brought in in 1971, and it is the lowest it has been since then. in early trading, the pound plunged almost 5%. the big question is why this happening? well, investors are pulling money out of the currency quite frankly, after those announcement in the uk on friday. they lack confidence that the government's economic plan... inaudible. they think at the very least that the uk finances will be stretched to the very limits. they are also concerned about growth and high interest rates. raising interest rates to try and keep inflation down in the us. this is as much a story about the strong us dollar is about the strong us dollar is about the strong us dollar is about the weak pound. because a number of other currencies are weakening because of the strong us dollar. , ' . , ., us dollar. difficult times for one and all,

this is berg. -- bloomberg. >> bloomberg daybreak: asia not --, asia -- bloomberg daybreak: asia. ♪ sheryational security advisor jake sullivan says the chinese invasion of taiwan remains a distinct threat. sullivan says the biden administration has not changed its position over the islands status despite chinese claims to the contrary. >> it remains a distinct threat that there could be a military contingency around taiwan. the people's republic of china has stated its official policy that it is not taking the invasion of taiwan off the table. that remains one of the potential options for the reunification of taiwan. their position has been changing over time in terms of the disturbance of the status quo across the taiwan strait, the actions they are taking with their military to undermine peace and stability. the american position has remained steadfast and consistent. a one china policy, the taiwan relations act. three joint communiquÉs we agreed with with china in the 1970's and 80's that laid out from our perspective how there should be no unilateral changes to the status quo across

paul: welcome to "daybreak asia ." haidi: the top stories this hour, risk aversion on the radar for the asia open after bond yields jumped on bets the fed will stay hawkish to fight inflation. the yen with its biggest one-day plunge in a month. taking its year to date the to almost 25% against the u.s. dollar. saudi arabia cuts oil prices to asia and europe as covid restrictions in china cool energy demand. paul: just get you across some breaking news on the bloomberg terminal, getting korea's current account balance for the month of july, a sharp improvement on the month prior, narrowing at $1.089 billion back in july. that was $5.6 billion so a sharp narrowing of that metric. the korean won not trading right now. of course, one of the members of the club of those currencies depreciating against the u.s. dollar has depreciated about 5% over the past month alone. this data for july -- it is a really sharp improvement. $1.08 billion. shery: we had the korean won supported and could do was some support. we are talking ab

♪ haidi: you are watching daybreak asia. 's counting out to asia's market open.sian stocks for the decline is a creative central banks follow the fed raising rates. treasury rates surging. the 10 year at levels not seen since 2011. >> japan stages its first intervention, but it may not be enough to overcome policy. japan could ease travel restrictions, joining much of asia, with china the notable exception. >> let's get a quick expectations for the australian economy. this is what we have seen when it comes to tmi numbers. we have seen weakness when it comes to the pmi readings over the past two. we have seen monetary tightening. s&p global australia pmi composite number, the per luminary number for september, just rising to 50.8 from 50.2. pmi services also seeing a rise. 50.4 from 50.2%. that manufacturing element, 53.9%, just slightly higher than 53.8% in the per luminary september reading. let's get you straight to the markets and how we are setting up for this final friday. >> checking on the aussie, fractionally weaker. it is all down to central-bank action

♪ welcome to daybreak: asia counting down to asia's major market open.aul: stocks are set to extend gains after u.s. equities had their best day in almost one month. asian currencies remain in focus after big drops against the dollar. fed officials repeat commitments to fighting inflation. vice chair lael brainard says rates will have to rise to prescriptive levels. apple unveils the latest devices including the iphone 14 and an ultra apple watch. and skips raising prices. shery: apple gaining about 1% in the new york session for that lineup of audits. over all the same has been the text selloff that continues. apple is still down about 12% year to date. u.s. futures really muted after the opening. lacking clear direction after 95% of companies on the s&p 500 moving higher with the nasdaq 100 outperforming. after what happened with apple. pressure on oil prices across the market as well, perhaps more expectations of a less hawkish fed. the 10 year yield, treasury yields across the board, stalling today for multiyear highs. oil prices in the new york sess

it getting a lift in asia trading.ally, as we mentioned, stabilizing, for the same for brent crude. the bears headwinds are still out there in addition to the macroeconomic conditions, we have slowing global growth and rising interest rates. perhaps the most immediate concern, we've got the biden administration planning to release an additional 10 million barrels of oil in november, from a strategic oil reserves, as part of the huge release that was mentioned back in march. in its latest release as opec talks about cutting production and impose bands on russian oil. looking at brent, you will notice the big picture crude, lost a third of its value since early june. so not much to push out of the range, later on the fact that the arab emirates is accelerating its plan to increase its output. it hopes to get to 5 million barrels a day. by 2025. a lot more oil coming on the market, while demand is a big question with these recessionary dives. rishaad: some of that caused by what is going on in russia and ukraine. we got m

's, asia. i paid for soul and i'll be back next hour with more international headlines for you say tooth . joy ride through fascinating worlds. into uncharted deb, our guides know their way around in a strictly scientific trip to some pretty wacky places. curiosity is required tomorrow today on d, w. d w's crime fighters are back to africa. most successful radio drama series continues. all episodes are available online, and of course you can share and discuss on d, w, africa's facebook page, and other social media platforms, crime fighters, tune in. now, this is it of the nearest a shirt coming up to date. are we seeing the beginnings of a new anti western global order? russia and china are taking the lead in pushing for a world order based on their towns and a regional meeting of the shanghai corporation organization could be an important 1st step. we'd have expert analysis and fishermen on the north coast, she longer fighting for their livelihoods at the time they can barely afford to power t

this is, did engineers, asia coming up today? did china commit crimes against humanity in its stringent region? possibly say's a new report for the un human rights office. it also appears as beijing of detaining. unfortunately it's minority most then we go to population. we ask what happens next? and we'll a jig, these brought to account for its crimes. ah, i'm british manage. you're welcome to d w. news. a shark ledger could join us. a sitting permanent member of the un security council could have committed crimes against humanity. that's the assessment of the un human rights office. last night, it released a report into china, se treatment of its most em weaker population in northwestern. she john province. the report accuses begging of the following as part of its policies to fight terrorism in the region. it says china committed, serious human rights violations in shin jang. it sites are tons of torture, including sexual violence inside detention camps, which b g called vocational training centers. the report also called arbi

russian federation and russian companies treat this opportunity with respect to their partners in asia , both and with a fundamental reorientation to the east. it is also observed in its oil, gas, chemical industry, mikhail kolesalov spoke about this in an interview with our channel. this is the head of sibur, according to him , logistics schemes were significantly rebuilt, if earlier european countries accounted for about 25-30 percent of sales, now these flows are redirected to the countries of the asia-pacific region and turkey due to sanctions, as the head of sebur admitted , there are problems with the supply of equipment for the main project of the enterprise - this is the amur gas chemical plant, but these problems are being solved. western europe and the usa, especially western europe is not the largest centers of petrochemicals, therefore, but china, for example, and the gulf countries. there is oil and gas. chemistry is highly developed, so we work with these countries. most of the issues have already been resolved. today, the head of the russian post, maxim akimov, became a

asia. yvonne: european futures are slumping, the worsening energy crisis is adding to concerns about the global economy. surging power costs, interventions. goldman sachs morning of. today is not an ethic story. but, what is going on in energy. david: the news of additional steps the european energy ministers are talking about. emergency list of measures. it's playing out. equity markets is leading to risk aversion. currency markets, dollar strength story. chinese markets are weaker. the 120 day correlation between the chinese currency and broader market sounds like a random number, that is above the five-year average. where that goes, the rest of them go. trade numbers are coming through out of china. in commodity markets, oil is 3.8% to the upside. yvonne: stock futures is where the pain is. we're not just dealing with a new prime minister, we're dealing with a follow. stocks, the next one to watch is the floor it back in august. here is more the we have been hearing. >> it's a surprise.

western policy in central asia reveals its absolutely colonial nature. that is, earlier, while the contacts were not so intense. you could hide your predatory interests behind sweet smiles. not now, smiles, of course, are also in place, but behind them this imperialist grin is more and more clearly guessed, a simple example according to the bureau of national statistics in 2021. about 85 million tons of oil were produced in kazakhstan, at the same time, more than 67 million were exported. that is , about 15% of all oil produced is left for processing in the country. this is because the mining companies, under the existing production sharing agreement . it's just more profitable to export crude oil. rather than re-earn it in kazakhstan in general, this, of course, is a complex of reasons, this is a higher price for oil on the world market compared to the domestic one, but the point is also that at the domestic refinery oil comes from fields that have long passed their peak and are now losing power hence the constant shortage of fuel in a country in kazakh

asia looking like subdued trading at the moment.gative territory, futures up .3%. ftse 100 futures after the u.k. inflation reading, slipping from the 40-year i, providing a little respite -- 40-year high, providing a little respite. a lot of concerns about property values and the property market in the u.k. at the moment. coming up on -- more coming up on "daybreak: asia," this is bloomberg. ♪ haidi: singapore considering a new law to address canceled culture. the minister of affairs said it may be needed to protect things including same-sex marriage. >> we are trying to forge as much as a -- as much of a consensus as we can on an issue that affects many countries, the culture wars and so on. marriage is defined in law as between a man and a woman, but any debate on that is in our lament -- is in parliament, and not through the courts. >> could the definition of marriage as being between a man and woman could be tweaked as being between two men? >> marriage is between a mend and a woman. that is the policy of this government. >> op

>> welcome to "daybreak asia." we are counting down to asia's market opens. >> a weaker open after declines on wall street. treasury yields hitting multiyear highs as investors position for a hefty fed hike. markets are expecting a 75 basis point rate increase tomorrow but some observers think that if or point jump -- the former head japanese currency policies -- the yen intervention situation could come at any time and without u.s. approval. shery: given everything that is ahead for the week including the fomc rate decision, not surprising we are not seeing a lot of movement in the futures space. perhaps a little bit of upset after the s&p 500 fell to that two month low. we even heard -- calling a 40% sinking of the stock market. this coming at a time when treasury yields are rallying for multiyear highs. with the rate decision expectations, we have the 10 year yield surpassing 3.6% at one point today for the first time since 2011. the two year yield also at the highest since 2007, close to the 4% level. haven dem

shery: asia could come into your life. haidi: we are counting down asia's market open. the fed made a third straight 75-basis-point hike and signal more might be ahead. >> the very lowest level of what might be restricted. there's a ways to go. haidi: asian stocks set to follow wall street lower. the bank of japan, investors watching for any expansion of its lending program to promote investments. shery: i special volatile session with investors struggling for direction after we got chair powell's conference. at one point, the s&p 500 was up 1.3% just to end the session lower. tech really taking the brunt of the losses as we have treasury yields rallying. but even treasuries work all over the place. really paring back on most 12 basis points of gains, but still, the deeper inversion across the treasury curve continues, leading to concerns about a potential recession to come. surprising concerns about an economic slowdown leading to oil being pressured. right now below $82 a barrel. haidi: it is really all about what we have seen in the market. the fed raising projection

ah, low world bank cuts the economic outlook for the asia pacific region. would china lagging behind the rest for the 1st time in 3 decade? also on the show, the recent flood in pakistan caused widespread suffering and destroyed reed harvests are set to make that worse. this is the w business. i'm janelle dumas and welcome china. economic growth is set to fall behind the rest of asia for the 1st time since 1990. according to the world bank, it expects the chinese economy to grow 2.8 percent this year. nearly half of what was previously forecast. the slowdown is morally largely due to a downturn of the property market in beijing. 0 coven policy. the world bank cut it's forecast for the asia pacific region as a whole. to 3.2 percent. we're joined now by our china analyst clifford kuhn and good to have you. so in more evidence that the world has turned upside down, the rest of asia, clifford is doing better than china. what are the prospects of the chinese economy now? what's funny have we gotten so used to china being the, the.

you are watching daybreak: asia. from new york, sydney, and hong kong we are counting down to asia's major market opens. expectations for another hike. snapping a four day losing streak. china's covid zero policy plunges another major city into lockdown. hong kong is targeting another quarantine. >> south korea cpi crossing the bloomberg softer than expected seeing a contraction of .1%. expectations were a .3% gain and a pullback from the .5% move in the previous months. august year on year cpi 5.7%, shy of expectations of 6.1% and a fall back from the 6.3% in july. in july for .1%, more or less in line with expectations a little bit of fun softening from the previous month. we did hear from the governor at jackson hole saying they could raise rates again to tame inflation and are not likely to stop raising rates before the fed. more pressure on the won to depreciate. the impact on the wind has been dire. we have seen a ballooning of the trade deficit. inflationary pressures are really playing out when it comes to co

asia welcomes you and today our mobile. nomadic studio is located in samarkand, a real place of power instead of power not because of its powerful history. and not even because the terrible conqueror is buried here. tamerlane is not present these days samarkand has concentrated a new global force in the face of the shanghai cooperation organization, therefore we are not in an ancient city, but in a new complex, where the sco summit was held, it was at the samarkand summit that it finally became clear. - there were still doubts that there could be no more unipolarity in the world, which creates a new geopolitical landscape with such dominants, as mutual respect, trust and constructive equal cooperation. today we will talk about what the sco is for central asia. but we will not limit ourselves to this topic also in the program, what did the pope see on the flag of kazakhstan, who sets fire to the region, provoking border conflicts? why in kyrgyzstan there was a topical discussion about the death penalty and exciting chases of