in sydney, asx 200 lower.e board, a closer look at stock movers in seoul, one highlight, extending some, the -- falling as much as 5.4% and naver extending losses. citi saying it is better for positions to write out their regulatory risk. stocks in japan, utility names, we are seeing some of that sector gained ground, as kono speaks of the need to make carbonization targets, the likes of texco jumping. shery: let's turn to regulatory risk in china as beijing's crackdown on various sectors can in you. the big question, is china's still investable? here is what some guest on bloomberg tv had to say earlier. >> i think china is investable. >> what is happening is data security is low, it is something we are still observing. >> in some ways these measures are making it favorable for investors. >> it is in economy we cannot live without. >> the contours of it are not entirely clear. >> they are moving toward favorite regulation, trying to create a level playing field. >> there are some investment opportunities. she

we are seeing the asx 200 open with little change.re under pressure as morrison ledges to contain the reopening plan. check out what is going on in commodity markets. oil is extending losses after saudi cut prices for asian buyers. we're seeing aluminum prices gained some ground. switching out the board, checking out the open insole -- in seoul, we of the prime minister attending a parliamentary session to review government spending. the kospi is under pressure. the korean won is firmer against the greenback which fell on friday. shery, we stocks bouncing more than 1.5% on nikkei, extending games to a 30 year high. the end, little change. we see little impact expected from the political development. shery: our next guest says japan's change leadership traits a degree is uncertainty -- a degree of uncertainty but little is pricing for men -- for any positive shift. the senior portfolio manager for asia-pacific equities. castro, great to have you with us. this mean there is more room for upside in japan? where are you seeing the opportu

looking at the asx, csi 300 has been down but it is now in the plus column.g kong market erasing some of the gains. oil in focus, given the energy crunch in china. we are looking at some banks, very little in terms of resistance for brent crude to go over -- yvonne: goldman is bullish when it comes to oil, expecting explosions and prices as well. the energy crunch not just in china, but europe adding to these gains. we have plenty more to come. this is bloomberg. ♪ (announcer) looking for a better way to lose weight and feel good? how about the one with the 98% success rate and the more affordable weight loss solution? that's golo. there are no monthly fees and it's guaranteed to work or you don't pay. how can golo offer all of that? because it's not like any of those diets you've already tried. it's the new way to lose weight. no stimulants, no starving, just results. results you'll keep for life. no more sacrificing to lose weight only to put it back on. no more sacrificing, period. it improves your lifestyle and delivers incredible results. with over 2 mil

we are seeing the asx 200 also down 3/10 of 1%. continue to see the mining giants under pressure given the slump in iron ore. miners shooting prices given the slump in the middle. plenty more to come. this is bloomberg. ♪ shery: fed chair jerome powell faces a communication challenge if he leads toward preparing stimulus while trying to dampen speculation that foreshadows rate hike. senior advisor to bloomberg economics bill dudley says the bank may face a credibility issue. >> there is is a risk to the great ability because inflation is higher for longer. inflation expectations are starting to rise. they sort of put it on themselves in terms of when they can raise rates. they said they are not going to raise rates until they had to percent inflation, had full employment and are confident for could stay above 2% in the future. if expectations get unanchored, that could push inflation up. >> take it back to the history of the social economics of grant along and the other young turks out of your berkeley here. we are making up as we

asx 200 being led higher by banks.ost from -- electronic and discretionary names, airline stocks down and tokyo as well. we have those segments moving in anticipation of japan lifting its emergency in the country. jp morgan, as we are seeing vaccinations ramp-up they are projecting china growth will come in at a percent next quarter. consumption gets a boost helped by policy support. you have the upcoming election on thursday. germany's vote very much in focus, a pair of earlier gains, futures getting grounds. yields up to 40 following the fed's hawkish messaging. haidi: let's get a check of headlines, the right hailing unit is in talks with investors for another series of funding after it raised almost $600 million earlier this month. they say the next round may be held in the first half of next year. the company says it is currently number two in terms of daily trips in the chinese market. evergrande is dropping plans to list all the star board. at the company says it made the decision after careful consideration. ev

the asx 200 and u.s. futures steady. that is ahead of the fed.efly, commodity market changes in china. things of rubber. palm oil and iron ore seeing some downside today. not as substantially as we anticipated. rishaad: let's move over to climate change as well because we have president joe biden and xi jinping at the moment burnishing their credentials. this as fears over climate change and covid-19 really dominated the first day of the u.n. general assembly. >> china will step up support for other developing countries in developing green and low carbon energy. and will not build new coal-fired power projects abroad. >> we are not seeking a new cold war or a world divided into rigid blocks. the united states is ready to work with any nation that steps up and pursues peaceful resolution to share challenges. >> today, we are going to discuss the next steps on all of this as well as how the u.s. ad you k continue our cooperation in afghanistan -- and how they u.k. can continue the cooperation and afghanistan. david: stephen, what does this mean for

the asx 200 coming in with .8%. looking at the hss i. the hong kong market is up. they are recovering from the losses we have been seeing as of late. aluminum is a bit lower as well. it is about the yields. we are seeing that 10 year yield and what the fed is talking about which is what the fed is assumed to be talking about about what happens with the bond purchasing program. >> they are saying we are happy to see a tapering sooner than later. that is what the kind of spark it is. then we have this energy crunch adding to the inflation concerns out there. the supply chain was. that is why we are seeing this melt in yields gain some movement. the u.s. two-year is at the highs -- highest we have seen since march of 2020. morgan stanley is coming in. they say one point in percent by years end. when we got above that 1.4 level, that is when you start to see the hedging. that will prolong the selloff. >> we have a chart on this as well. we have a jump about the daily moving average. it took me longer in terms of yields. it is all to do with what is going on in the fed.

we are also seeing asx 200 futures gaining ground after falling for two consecutive sessions.ontinue to see the pressure on the aussie dollar against the u.s. dollar given the rba's cautious taper plan. we are seeing nikkei futures under pressure, continuing to extend declines after seeing its worst day in almost three weeks, the first time it actually fell in nine sessions and the japanese yen holding at around the 109 level. it has been trading at a really narrow range. we are watching for any headlines on the virus given that prime ministers suga extended the virus emergency there -- prime minister suga extended the virus emergency there. kospi pressures after a two-week low. we continue to see off flows from overseas funds. people really concerned about the fed taper, not to mention china's crackdown on the tech sector as well, which is one of the elements that sent u.s. stocks lower in the new york session. that is it for "daybreak australia." "daybreak asia" is next. this is bloomberg. ♪ (announcer) back pain hurts. you can spend thousands and still not get relief. now t

switching out the board for the mood in sydney this morning, the asx 200 rising by 8/10 of a percent.e for miners for bhp while fortescue is higher by 3%. it has announced a new coo for its iron ore division. check out what is going on with iron ore prices. downside seeing from jeffries, trimmed the average forecast for i went over to $150 a ton. pulling up the chart on the terminal as our colleagues have noted em stocks bearing the brunt of the evergrande episode. that turned short last week for the first time in over a year. when it comes to em credit, goldman expecting the spillover from china onto em duration. that will be limited as they anticipate a systemic risk will be contained. shery: let's get to vonnie quinn with the first word headlines. vonnie: president biden once wealthy nations to donate more covert shots and deliver them to poor countries faster. biden announced the u.s. will buy another 500 million pfizer vaccines is sent abroad. this pushes the total pledge of 1.1 billion doses. the summit laid out other goals including vaccinated 70% of the world one year from now

we have change for the asx 200 at the start of cash trade.e for market so far this month. one company is up 24%. iron ore has been attracting lower since may. futures are off by about 100 plus. check out gold holdings, gains ahead of inflation data. we have seen inflation expectations continue to rise. costlier energy bills likely feeding into that, we are seeing oil prices extend gains, opec predicting stronger demand this year. shery: we have breaking news. we are getting a statement from ever grand saying they are taking steps -- they do not have a binding packed. the hong kong building sale has not been completed within the timetable. they will continue to implement and ease liquidity issues, we know the company continues to insist that the rumors of bankruptcy are not true. they have released another statement on the website that they are facing on resident difficulties. ever grand is saying they are engaging capital companies. we have heard from analysts saying debt restructuring for ever grand is almost unavoidable, we know that when i

we are talking about that there is: australia's economy, asx 200 down by 1.5%, and the -- raising earlierg bloomberg, we saw that thai market as we went cpi data coming through here, also watch aluminum stocks as we continue to see aluminum search on the attended guinea coup d'etat, it charts up by as much as 10% in the hong kong session. s&p meaning that outlook positive, alumina and sydney up by almost 5%. the league of legends mobile is expecting to see a large attribute, crypto stocks and focus as piquant extents its gain to $50,000. let's get first revenues were vonnie quinn. vonnie: officials and saying are said to be closing off -- it is used to attract foreign investments. we are told start are being denied permission to inject -- on tour including the game and i -- the cayman islands. there telling from the process of on the whole -- on hold. pfizer and be tech vaccine is the only one likely to be approved for u.s. booster shots against covid-19 initially. the dennis shut may be delayed. dr. anthony fauci about bunch of his comments may provide more clarity on the administration'

asx 200 lower.tocks are getting ground, trading at eight june 2008 hi. -- bank falling for an eighth straight day. i went to i light hyundai heavy, making a solid debut. a little above the ipo price of 50,000 won. a stock was controlled at jefferies, but it did break its earnings forecast with steel. we are seeing fortesue -- fortescue fall to a low. -- set for the first -- worst week on record amid concerns on chinese steel demand. switching of the board, a breather for print, but crude is set for a fourth week of gains. guess richard is extending the drop, still holding above five dollars, morgan stanley boosting their gas forecast on tightening markets going into the winter season, ahead of which we have seen asian buyers paid top dollar, cautioning guess markets remain very exposed. shery: as the global energy supply crunch fuels a surge in prices, china staring down another winter of power shortages. to discuss is an analyst. one companies or markets are going to be most susceptible to these ri

in sydney, asx 200 up 2/10 of 1% and aussie dollar is holding losses.eping an eye on asian coal. global resources gaining 3.3% at the start of cash trade in city. pressure for copper prices at the start of trade as chile cut annual price forecasts on slowing chinese demand. offshore u.n. -- yuan just holding and waiting for data later this morning. shery: most stocks are trading at a discount. let's discuss where opportunities are with ken from e springs investment. what do you like in japan. >> when you look at the overall valuation and it looks more attractive compared to europe and the u.s., japan is 1.6 times and europe is 2.1 times over the price of the book. the u.s. is 4.5 times over. so we like the valuation. it is attractive. we expect to see a pickup in the first half of the fiscal year earnings in the next couple months and potentially a pickup in economic activity in japan as a result of loosening restrictions from covid. haidi: we have seen a lot of optimism given the reshuffling in japan. japan is right now the best performing market in th

we are expecting the asx 200 to start trading in just a few minutes time.wn about a percent, this after a second week of losses. minors contribute in the most in the decline, given that we continue to see the pressure on iron ore. the japanese yen is holding steady but pretty weak for the last couple of sessions. very close to the 110 level. against the u.s. dollar. this as we continue to see strength on the greenback. we have seen u.s. futures at the moment losing ground now after stocks already fell the most in about a month. we did not have bond yields in the dollar rising. investors show evaluating the resilience of the global recovery. we have many markets closed today including china, japan, south korea, celebrating the thanksgiving holidays. taiwan is also closed. coming up, the ceo of one of the world's largest shipping companies will discuss ongoing supply chain disruptions and cargo challenges. plus the market outlook with morgan stanley. the open in sydney is next. this is bloomberg. >> welcome to daybreak: asia. i am shery ahn in new york. >> i

the asx 200, little change. this was paired well with the jump that we saw.eing prices for aluminum continue that advance at the 3000 level this morning. we are seeing some downside pressure but trading around five dollars here. morgan stanley seeing trading of 10 bucks. that may challenge the transitory environment. watch the reaction to pyongyang. we are seeing some downside pressure for the kospi after we saw it snap a two week game. more losses while we are seeing the korean won under pressure as well. all of this as we get the latest flash trade numbers. >> our next guest is -- has recently downgraded his northern equities exposure. great to have you with us. remember how north they shifted this during the onset of the global pandemic because of their ability to rein in covid. even now, their electronic export, it is trade, what seems to be the problem? >> a few things are going on. the political situation in china, the implication that has four more of a clampdown in certain sectors in china have actually cascaded down to the rest of the region. there a

taking a look at the asx. australia on the way down as we wait for their it -- for the bank. it is the japanese market that is the outperformer. gains of 4% for the nikkei ever since prime minister suga tendered his right -- his resignation. the announcement welcomed by japanese investors. they keep on pumping the market up. hitting a 30 year high. a lot of other things moving fast which could affect the morning straight, are we, haslinda? haslinda: that's light -- right. lots for investors today. the data docket, any moment now we are waiting for china's trade data for august. we know exports likely to ease but it will remain slow. we're looking at a 6% increase year on year down from a 19%. likely to come 22% down. the delta variant is disrupting the global economic recovery and supply chain disruptions. rish, we are also waiting for the rba with a decision out later today. no tapering announcement is expected. investors are telling us perhaps they want to wait and see what kind of impact the delta variant and recent restrictions will have on its recovery. so wait and see m

up by 1/10 of 1%, and another under pressure why the -- while the korean won is -- banks boosted the asx travel stocks. we are seeing some pressure this morning with the materials index also losing some ground. this sector is snapping the best run since 2017 amid the slump we have seen in iron ore prices, and singapore holding around 120 this morning, and the aussie dollar just holding onto overnight gains here, down since the opening trade, and switching at the board of the anticipated pickup in demand with oil, that is keeping prices somewhat elevated, although we are seeing some below the $80 per barrel here, although with the energy crunch, depleting crude and more around the world and the prices in china, that is affecting metal demand and supply, which goldman says pertaining to aluminum prices ticking towards 3000 in london this morning, and then out with a forecast with the gdp outlook, which has been lowered to 7.8% for this year, with energy targets weighing on industrial activity on the mainland. offshore, managing a five-day gain after emerging currencies are under pressure a

the asx 200, we are slightly higher here. bit of caution as we start and kick off this busy week when it comes to data. we have that coming out. india coming up today. u.k.-u.s. inflation. that will be the big one when it comes to bond investors. rishaad: also an eye on what is going on in congress. we have a president who has got to care his own party to get legislation across the line. let's fly out -- let's find out why. vonnie: u.s. democrats set to propose a 26 and a half percent corporate tax rate as part of president biden's three and a half trillion dollar economic land. bloomberg news learning they will propose a capital gains tax of 25%. a key democratic senator casting doubt on the timeline for pushing the biden economic agenda through congress. joe manchin says he is concerned about inflation and higher corporate taxes. >> he will not have my vote on 3.5 and chuck knows that. or is no way we can get this done by the 27th. there is so much a part -- there is so much apartness on where we are. vonnie: sri lanka has

where i am we are seeing the asx off .4 of 1%. it comes to the kiwi entity aussie, the two performers as we saw the greenback falling to that three-week low. in new zealand we did get stronger terms of trade, so that is meeting to rbnz expectations as well. lots of concerns now we have backward quarter gdp numbers and the fourth quarter looking pretty bad. impact on household sentiment and the services sector expected to weigh in to a double dip recession risk for australia. in china lots of regulatory changes. my next guest says a fair value of the stock market is uncertain. we do not know how far beijing can go or will go of achieving president xi's goal of prosperity. to that end in terms of how much company ceos are struggling and scrambling to do the right thing by president g and his policy priorities, take a look at this graphic that shows the number of times that we have seen common prosperity being raised in earnings calls, in perspective documents, the number of stories with this exact phrase has spiked, and we have seen

we have the asx higher by 0.5%. the kospi just a very slightly is a negative territory.that santos and oil search will enter that merger agreement, forming a $21 million asian gas and oil regional champion. we have an exclusive interview with mgm china chairman greg gilligan. we will also be speaking with the managing partner and cio at the market open. that is it from "daybreak asia." markets coverage continues, so stand by for bloomberg markets "china open." ♪ 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. ♪ david: good morning from hong kong where it is 9:00 a.m.. it is also 9:00 a.m. in beijing and shanghai. we are counting down to the open of the last session of the week. let's get to your top stories today. sto

we have the asx mining index down. see this playing out with hong kong really suffering at the moment with the decline of 3.9%. looking at what's going on with steel prices. it is about steel curves and that's affecting the iron ore. it's a sea of red out there. this is bloomberg. ♪ haslinda: it is a red monday as market sellers continuing to hong kong. we are seeing a big spike in volatility. they were on the verge of getting its worst days since may 2020. it is about evergrande. that story keeps on giving. rishaad: we are looking at the hong kong hang seng down the most that we have seen since may 22, 2020. we are also seeing all of this spill over in the u.s. markets in u.s. futures. this is what we have at the moment. they are headed in the downward trajectory and. we could see it adding to the losses. david ingles is with us. david: to your point, the hang seng property index is what they are tracking closely to evergrande on the property sector. on a point basis point, 1912 for right now. 1900 roughly. and just f