shery: next, the asx 200 on its fifth straight week of gains.will hear from wilson asset management. this is bloomberg. ♪ shery: as we reported earlier, australian gold miner new crest has received a takeover offer from newmont. the nonbinding offer is for 0.38 for each new crest share. paul: .38 share in newmont for everyone share of new crest. this is just six lines here, it just guard -- it describes the upper as indicative, nonbinding and subject to conditions. a lot of those conditions are what you would expect, shareholder approval, regulatory approval, including the foreign investment review board in australia. newmont is a big player, the biggest player in the north american gold scene with about $57 billion, north america's largest gold miner. it has attempted to acquire newmont before. the earlier officer -- earlier offer was pushed back and it seems for the time being to be detained by the board. it has retained legal advisors to look into this and for now it says shareholders need not do anything while this is examined. new crest had

australia's primary exchange, the asx, reported a 71% profit.f the exchanges clearing and settlement system. let's discuss the results and outlook with helen lofthouse, the asx see you. when it comes to the outlook of technology, give us an idea of what we are at at the moment and what we can expect. >> certainly. thank you for having me today. today we given up to act -- we gave an update on the chess project. the current platform is performing well and is receiving ongoing investments. the chess replacement platform, in november we announced we were pausing and reassessing the solution. at that time, we talked about the significant item we then reported in these half-year results. that was in line with what we talked to the market about in november. we give and an update today on progress so far on the replacement solution design and gave the market can finance on when they can expect us to -- when we are targeting for solution design. we also announced a partnership program for stakeholders working with us to complete the chess replacement pr

in terms of what we have in australia, a busy day for the asx 200.e have earnings coming in across the ticker including cba. we are a few minutes away from the start of trading. 30 seconds with a staggered start. other companies reporting fortescue wesfarmers among them. the direction for stocks will be led by the u.s. close. we saw wall street gaining into the end of the day's trade. in the asx 200 coming online marginally higher at the start of today's trading. domestically we have the governor. yesterday all about the boj, today, the rba. he is facing to parliamentary grilling sputum more details just ahead. let's just bring back the ticker. and check how the stock has come online. the revenue met forecast. it was buttressed by rising heights from the rbf. we are seeing ages decline 4.5%. broadly, the big focus for today's trading is coming down to those inflation numbers. they were still hot. cpi print. you had officials saying we are nearing the end of the tightening cycle. that was something that gave me optimism, particularly noticing that in

the asx 200 lower by one third of 1%.tion was the big focus in our interview with the rbnz governor earlier. he told us that globally, inflation pressures are starting to ease. the rbnz has fallen through with a very aggressive tightening cycle. the question today will be what happens when the bank of korea, will they hike again or perhaps be the first to stand pat? >> the expectation seems to be that they will actually stand pat. our next guest expects the bank of korea to be the first mention -- major central bank deposit on rakes -- rates. kathleen, always great to have you. the expectation right now seems to be that the bok will downgrade growth forecasts given the challenges that the economy faces. how tricky will the messages be for the bok not to tell markets that they are going to cut immediately? >> you are exactly right. we are expecting a hawkish hold this morning. we do see a no change decision at 3.5%. at the same time, we see one or two dissenters who were still call for a hike. that is likely to be diluted

asx 200 trading 1/10 of 1%.her we've got this rate decision or not, we should be having it right about now. and do we have it? yes, 25 basis points. 3.35%. haslinda, we are looking out what was pretty much expected. haslinda: you are right, it is expected. it is hard for the rba not to raise rates given all the inflationary signs we've seen in the lc economy. let's get more with our global economics and policy editor. widely expected. kathleen: it seems like the right thing for the reserve bank of australia and we may get more information and policy headlines when it comes in a couple of days and we get a more thorough report from the rba on what it did, why it did. inflation, as i recall in the latest quarter, fourth quarter up to 6.9 percent year-over-year. their target is lower than that. air hoping to get to something like 2% someday. in there looking at central bank fed reserve. 25 basis points in the cycle. the rv and said has done 400, they've done 325. they are behind, so this is another reason why they

let's change now to what we have for australia, one hour into the open for the asx 200.ping a three-day drop. energy is one of the big gains, even though it was the only sector in the red on wall street. we are still seeing wti looking weaker, the u.s. possibly planning to sell more oil out of its strategic reserves. keeping an eye on new zealand, given that it has declared a national state of emergency from cycle gabrielle gabriella that is moving across the north island. shery: and we continue to watch more potential volatility and uncertainty given all of these stories we are following right now. our next guest is underweight equity and bonds and overweight cash. joining us is our guest head of multi-asset solutions aipac at t. rowe price. you seem cautious and defensive, but at the same time, i am seeing in your notes that you are overweight the yen. how do you balance two? guest: we have had a difference for quite a while. but recently we added back some risk in selectively contrarian exposures. emerging market is one of them where we see the china reopening and the

anabelle: we have the open of aussie stocks, asx 200, waiting for trading to get underway. we're waiting for the moves in the bond spaces. we're still seeing the repricing after the rba stock to markets on tuesday with a little more of a hawkish tilt. these moves could be a little overdone because traders had been underestimating the rba's resolve to stick with inflation fighting path. the curve could flatten. in terms of stocks, this is modestly high. , futures pointing against half a percentage of the opening. the risk on tone in the markets, coming down to what we heard in our interview from jay powell. the key take away from this is he had an opportunity to turn more aggressive, more hawkish, but he did not take it. because of that we are looking more risk on in the session with kiwi stocks gaining at the start of trade. other sectors that could be a good factor for the session in asia is also what we see with the adani group, given the losses stabilizing. it had been a drag on the asian benchmark since the short seller report. also, in china, given we are watching for

a little bit of downside for that asx 2000. fresh insights from fed officials encouraging investors to rethink what they want to believe, this broadly bullish response to commentary over the past week perhaps changing the narrative. chicago nikkei futures off by about 1%. also watching the aussie dollar sitting marginally higher, but under 70 since u.s. as we saw the broad rise in the greenback. reinforcing the narrative that rates will need to keep climbing and perhaps stay there for longer to quash inflation. also watching batch of earnings. at top of that list is disney jumping in late trade although advising -- revising some of the session highs. it was an earnings beat. plans for massive cost cutting. what do you make of these announcements? the tension to get cost savings, but perhaps less focus on subscriber growth and that part of the story for streaming? asked yes thank you. this was a fantastic beat on all measures and coming into this quarter, we knew it was going to be a litmus test for bob iger and his first earnin

we have the open of the asx 200 and at the start of trading, looking weaker.ger moves in the bond space, particularly led the shorter end of the curve. traders are bracing for that statement from the rba that is due in the next hourm the quarterly statement, whether that will underscore the hawkish rhetoric that came through in the latest rba meeting. in terms of australia, it is looking fairly flat. geopolitical tensionsm also in focus given beijing has told australia that it is open to discussing tariffs on wine. . that is after we saw the first shipment of cool docking after two years -- first shipment of coal docking after two years. most of the moves are really coming through with their treasury yield curve inversion that we saw. the deepening indicator, that twos tends curve, telling us perhaps that markets are nearing the end, or bracing for more of a recessionary outlook. that is playing into their mixed trading we are expecting this morning. japanese futures pointing to a weaker start. kiwi stocks edging higher. what could help is the move back into t

we are trading flat for the asx 200. we will see the staggered start comes on nine-month -- nine minutes to get fully underway. when we looked across the currency landscape, but only one trading higher was what we sow with the yen it is now trading steadily. nikkei futures are pointing to a slower start as well. china is one of the markets that was standing out in january into february. that rally looks to be petering out. the likes of barklay saying if you haven't bought in yet, you probably missed the boat. scarlet: futures are under pressure after a down day in wall street. we have the 10 year yield rising past 380 level. we continue to watch the future space. we have data showing u.s. producer prices rebounded the most since june. jobless claims falling below estimates. this is really being digested as perhaps the fed having to stay higher for longer. even bring in more 50 basis point hikes. take a look at the treasury space because that's where all of the excitement was. i mentioned the 380 level king passed on the

the asx 200 is one hour into the trading. is very much on economic data, not just pmi readings, but also fourth-quarter gdp numbers dropping in australia in about half an hour. the expectation is for growth to be about 8% on the quarter, that could give the rba reason to be a little more hawkish. speaking of hawkish, we are expecting the fomc to stay a little more hawkish in the months ahead. we continue to see resilience in the u.s. economy and oil trade is very much reacting to that as we continue to watch those stockpiles that are growing. shery: bring in our next guest, who sees early signs of distress. we have global research chair at j.p. morgan. great to have you in the new york studio. have been traveling all around the world, tell us what you are seeing on the ground when you are worried about the signs of distress. voice: there was a lot of exuberance in january, because there were surprises. and come february, we have seen a reversal of a lot of this sentiment. the question we are getting is, where is the terminal

. >> we have the open of the asx 200. this is the first chance for traders in australia to react to the news from the fed. more important, we got more dovish comments coming through tickly around jay powell acknowledging price pressures are starting to ease. equities a little bit higher. the big moves more in the bond space. change now and look across the picture because we see kiwi stocks turning positive for a second straight day. nikkei futures looking to modest gains. an earlier gain on the japanese yen, that puts its year-to-date low or high inside one to 7.23. shery: we're talking about extending the gains that we saw in the regular session already. u.s. stocks reversed earlier losses after the fed slowed the pace of rate as expected but really after jay powell said the disinflation process had started. investors honing into the comments. most yields falling at least 10 basis points. you can see the downside pressure there. bring in kathleen hays. it seems that traders are honing into the fact that jay powell sounde

shery: the open of asx 200 at the start of the day risk off. treasury yields high. the aussie markets will be hit by a double whammy today. friday you had a preferred inflation gauge for the fed hotter than expected telling us policymakers will need to keep rates higher for longer. some economists guiding for the peak rate to top 6.5%. likewise, australia. we are starting to see higher odds for recession on the horizon. our latest bloomberg's survey says chances are now one in three up from one in four a few months ago. the terminal chart puts in perspective what has been happening in australia versus the u.s.. you can see the inflation -- recession probability line in glue has recently taper down in the u.s.. we have started to see the inflation pace lose a little staying in the u.s. even though we did see the preferred inflation reading friday. we have some disinflation coming into the market. on the flipside, in australia, recession odds are starting to increase. at the same time that we saw monetary stimulus starting later than the fed. still, a big concern as t

we are seeing the asx 200 within 1% of an all-time high reached in 2021.rs say any company willing to bet out an outlook could be rewarded, but we might not get too many in the earnings ahead. the other benchmark reporting a lot of earnings, japan. bringing up this chart, we can take a look at the numbers we have had over the past 24 hours. a mixed bag in terms of results. some analysts saying the direction of stocks could more be driven around expectations for who will be the next boj chair. but also, big earnings coming out later today. shery: including from softbank and nintendo, both set to release third quarter tuesday. our next guest is short both companies. amir anvarzadeh, good to have you with us. should we start with softbank? in your notes, you call this a basket case. why? >> obviously, it is no news now that stock-price investment thesis or discipline have raised eyebrows. in regards to the -- just the method to the madness, if you'd like to seeing these fairly poor results from softbank. what is interesting is that -- tends to get involved in

the hang seng is up zero point 6%, marginal gains for the asx 200 index.s the story off the dollar trending upwards. rishaad: let's have a look now at the crisis developing with gautam adani and his group of companies because they are announcing a comeback strategy, showing a narrative of calming investors were spooked by the report from hindenburg research. let's get to pr sanjai with the latest developments. we have been a month away from those bombshell reports, the allegations which have roiled equities and taken it out in terms of market cap in terms of those stocks. sanjai: it is around 130 billion dollars wiped out from the market capitalization. adani was always in center stage for the rapid diversification and now they are trying to have a comeback strategy. this will help to cool off investors by seeing the rate ratings that they have enough cash to make payments. they also say they are prepaying some and also releasing some plans and cutting short of the capex and lowering their new target from a high 22% to 50%. they are not going for too many

the asx 200 one-hour into the session, we are seeing those gains fairly range-bound, still very muchhium producer eyeing massive growth in the sector. we will also be speaking with the ceo, dale henderson, later this morning on bloomberg television in his first interview since taking the helm at the company. we are continuing to keep and i on wti. it is fractionally higher this morning but heading for its second weekly loss. a lot of concerns around that recessionary outlook, and again, it comes down to fed inflation. shery: staying in large-cap equities and inflation-proof small caps, with as now is richard harris -- with us now. you also say in your notes, you cannot run, you cannot hide. is this the only way to stay invested in this inflationary environment clearly did do not know if it is a fact that prices will fall? richard: this is the wonder of being an investor, isn't it? you have to take the rough with this move. if assets go down in general, as we saw last year, investors have to be invested. that is your job. you are supposed to be there and you also have to be careful of

changing to see how australia is going, one hour into the session for the xx -- asx 200.point, retail sales are expected to be indicative territory pair that is as recessionary fears build in australia. . the odds of recession coming in at 1:3. oil is looking higher, wti encore's 40 a fourth straight monthly loss. again, down to fears of a deterioration in the global backdrop. shery: let's bring in our next guest tour remains positive on domestic consumption and says visibility on the reopening trade is lower. christina woon at aberdeen. good to have you with us. not a reopening trade was supposed to be a clear-cut one. what will be the next leg up for chinese equities? >> we have seen market pricing in reopening quite quickly since we last spoke. now we us -- we are sort of seeing investors take pause and see whether numbers actually show momentum in the reopening trade. all eyes on the march session to see if there will be progrowth policies. these are things we can watch for, but for now we have to be selective. shery: what do you like so far? christina: we are still p

annabelle: we have the open of the asx 200. we are focusing still on earnings because the reopening theme has been a key one of quarters past. that plays into what kind of demand we can expect from china. commodity companies in key focus today. bluescope actually slipping at the start of trade. we will speak with the ceo later this morning. that is an exclusive interview. in terms of the headlines in the first half, we saw profit dropping more than 60%. there's also an issue forecast that is weaker for the second half ahead. it does continue to keep dividends study for the buybacks. still this stock is slumping. earnings are one of the key focuses for the start of the week. we are keeping a watch on geopolitical factors as well because that along with what we've heard from fed officials about further rate hikes is something that has brought a bit more strength into the dollar. that as well as moves in treasury yields are something that's a negative. china still looking a little flat with futures ahead of the open. shery: take a

australia also falling flat, 30 minutes into the session for the asx 200. real question is whether the run-up in january is peter out over the course of february. this chart showing the s&p 500 peeling back slightly over the past few sessions. other factors at play as well, the gautam adani saga that really weighed on asian stocks in the past few sessions given the selloff in the market cap and weighing on the asia benchmark, the biggest laggards for a number of sessions. and you can add geopolitics. given the moves over the weekend. haidi: which of course, they are giving rise to escalating tensions between beijing and washington, after the u.s. eventually shutdown the alleged chinese surveillance balloon. beijing has shifted from expressing regret, to now threatening retaliation. joining us is a research fellow at a school of public policy. if people were looking for visualization of the perceived china security threat, i think a big balloon orb in the sky for multiple days probably is optically traveling from both sides if anything. when you look at the

opening of the asx 200 coming online lower today. the big focus will be how tech stocks perform, we did see them closing at 84 month high in the prior session. this morning we are watching them come online, nine minutes until the start of trading. we are seeing the retreat still in bond yields again, a lot of repricing going on around expectations for central bank moves, where we go from here. central banks also in focus in the prior session with the doj, essentially japanese yen rising as much as .3 of 1%. we did hear from boj officials saying expect no changes in policy before governor kuroda steps down. nikkei futures .28 weaker start in chicago. looking a little more range abound but were factors in play including what happens in the chinese session today. golden dragon index also lower in the u.s. session, and a profit taking perhaps going on on the session on thursday. haidi: let's get more on tech earnings, i went to bring in ed ludlow in san francisco. su keenan joins a set of new york. i will start off with apple numbers. we

the asx 200 index up by half a percent but rba set to decide on a rate decision, bear in mind the barbecueown in the momentum of inflation is very high. csi 300 index down. housing sales down. pmi suggesting pockets of weakness and the dichotomy -- let me get the word right -- dichotomy between hedge funds and mutual funds in terms of holdings. hedge funds near record highs. mutual funds we take a look at the longer-term perspective, well, they are underweight china. taking a look in terms of the fx base, the dollar is higher. the bot and the kiwi and the aussie dollar down .2% of 1% and the bond market, saying it could be a pushback in terms of a pivot. yield currently trending downward. rishaad: we're looking at just a slight move to the upside there as the set gets going. a quick check. one third of 1% up. against the thai baht that has been strong of late. meanwhile prospects for the indian market are looking positive with the nifty showing again of 1% -- of a half a 1%. the rupee also with a bit of a dollar strength on 81.92. and this is the treasury market right now 10-year yield, 3.

the losers come of the kospi and asx 200.sector groups on the regional benchmark are down today. consumer discretionary part of that. keeping it above water as we speak. just ahead will be showing you our conversation with the bank of korea boss. they want to keep the door open to raising interest rates and it the future despite hitting the pause button last week. our rishaad: 11 degrees celsius at the television tower in shanghai as we are getting off of lunch with the chinese mainland equities essentially just green, flirting with where they started the day. the shenzhen composite just off more. but really quite a lot of this is down to perhaps performing out of love with chinese equities over the course of february, which is valentines month. have this world beating stock rally which we did see, during the course of this month. another day they can make up for that, but as we get off of lunch, a bit of weakness. the yuan is also reflecting that. david: we will be talking about that level right now. when you look at the 10