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let's get the asian market reaction with avril hong in singapore. to what extent is their relief in the chinese markets that we have not yet at least had any concrete action in terms of chinese tariffs? avril: i think that's exactly what you're seeing in the equity space, the idea that we are not seeing china being targeted specifically on day one, so ultimately the impact from tariffs could look different verses if we were to see this aggressive approach on the get go, so the chinese stocks are extending gains we saw a day ago, although there are lingering concerns that after canada and mexico, china could be next, so we are seeing the pairing of earlier gains on the hang seng. in terms of the rest of the region, it's a pretty mixed picture. energy stocks the worst-performing as well. let's walk through what we are seeing in fx quickly. we are seeing the renimbi flat today despite the rebound on the greenback. it's interesting to note how em currencies in asia and the yen are gaining ground. for the yen, this is very much about how trade expectatio

avril hong in singapore for the details on that story then. avril: just in the past day, you saw how sensitive chinese stocks are to any of these trump headlines. markets are focused today on this big briefing. that included the chairman of the securities regulator for measures to support equities. what we got was how they are going to be encouraging mutual funds, insurers among other measures, to invest into onshore stock markets. but beyond the impact on a shares and the short term sentiment boost, there doesn't seem to be much in the way of a game changing measure. we saw the csi 300, the hang seng which climbed well over 1% earlier in the session, look at how those gains have evaporated. that's the china story. but elsewhere in the region we're watching south korea. today the kospi underperforming. south korea's gdp missed. the main reason we are seeing that drag on the south korean benchmark is the benchmark heavyweights sk hynix, samsung electronics, they are underwater today. this is for sk hynix despite reporting record profits, it is

avril: let's dig deep into this deepseek story. we are seeing how china shares were more or less leading gains in the region today. this is all this ai fueling optimism, a bit of profit-taking underway ahead of a long lunar new year holiday, so the gauges are paring earlier gains. but if you are wondering whether this deepseek story comes from, if it is just out of left field, one of the catalysts are at this local media report that highlighted how it jumped to the top of the app store in terms of downloads both in the u.s. and china, fueling concern that it will it clips the u.s. -- eclipse the u.s. openai or meta in terms of modeling. other shares in focus, the ones in japan under pressure. some tech names are losing their shine because of what we are seeing in china. this picture is coming despite a dismal showing on pmi's as well as concern surrounding tariffs. take a closer look at the ai related names, those linked to deepseek, one analyst put it best, saying it is remarkable how they come out with this powerful ai model at l

avril hong standing by in singapore. >> the asian stock gauge running higher but it's a mixed picture if you look under the hood. the chip names are doing well thanks to jensen huang and nvidia, the likes of tokyo electron surging and helping the nikkei to these out performances as we see the bank stocks also lifting the gauge helped along by the export related counters given the week yen but on the hong kong benchmark it's the underperformance as two of the biggest stocks in the greater china region get put on a u.s. defense department blacklist and have denied any links with the chinese military but down to the lowest level since mid-september and it's a benchmark heavyweight so is dragging. the hong sing responsible for the 2% decline. the japanese yen had its weakest level against the greenback in six months, some of this blamed on portfolio repositioning and it is approaching levels that last true intervention from japanese authorities. we got some job owning from the japanese finance chief but it looks like the direction of travel still for dollar yen is higher. >> avril hong in

i should say that my mother's sort of life story was very different from avril�*s in the novel and she. stephen laughs well, that's the imaginative gift you've got, yeah. but, yes, that generation of women who came from a relatively modest background, lived through the war, found the war something which liberated them from what would otherwise have been a rather confining, um, trajectory, i think. my mother was the only daughter of a woman who was widowed even before my mother was born, and it was very much understood that she would sort of stay at home and look after her mother. so the war was, in a way, what set her free. so i think i was reflecting on those longer things about that generation, and being myself the only child of a mother who was a widow for 25 years, and the very strong, deepening bond between us over that time. my mother died a few years before i started writing the book, so in a way, i saw it as a sort of homage to her. let me now ask you about the extraordinary sort of changes you've been part of in terms of creativity and writing over the past a0 years and more.

avril hong is in singapore. we are feeling the effects of this in asia . >> certainly seeing that bounce in asia stocks, chinese stocks leading the way on the reporting that the trump team is discussing a gradual approach to tariffs. caveats including we would need to hear confirmation from trump. chinese stock outperformance is pronounced today. csi 300 and the last half an hour extending gains past two .5% and this is on a day when japan, underperforming. japan is back from holiday but chip shares are the key drags as the white house has been unveiling rest curbs on nvidia's ai chip exports. think about how the boj needs, days after trump returns to the white house, there has been a cautious optimism potentially in the markets as well. when we take a look at chinese stocks, part of it might be optimism that a joint briefing between the pboc and securities regulators might produce positive headlines that drive markets. the other element is it has been looking oversold. this chart shows you the port of call rati

avril hong with a check on the asian markets. justin trudeau is expected to announce as early as this week that he will be resigning. trudeau has been under pressure for many months. what do we know about the reports and this potential resignation for trudeau and the challenges that the canadian leader has been facing? >> there's a lot of challenges he's been facing. this is kind of the culmination of the past month and a lot of the issues and difficulties him and the party have face. they are reporting he will be resigning or likely to resign at some point this week and reuters reporting as well afterwards that he is likely to resign by wednesday, when his party is expected to have a caucus meeting so sometime before wednesday although i should know clearly that he has not as was reported in the globe and reuters decided definitively that he will step down but certainly it is a surprise despite this pushback he has been getting. his favorability ratings that have been low in the main issue that happened last month which is his f

avril hong standing by in singapore. >> absolutely painful if you look at the picture on asia equities the benchmark at the lowest since august and this is against the backdrop of elevated u.s. yields, greenback strength sapping appetite for asia stocks at a time when they have already been facing pressure no thanks to the pain in chinese equities and add to that elevated oil prices and if you look at chinese stocks they have a much older way and raised -- erased those gains driven by the stimulus package last year and you are seeing how there is some expectation of the national team stepping in in the afternoon session. we will be watching for signs of that but ultimately despite these signs of support the pboc governor talking about proactive policies, chinese exports rising to a record given frontloading, not helping given the tariff and stimulus uncertainties. flip the board because that's also likely to pressure not just chinese stock the chinese currencies as well and today we saw the pboc actually coming through with measures to broaden support for the chinese currency so it was

lizzy: avril hong in singapore, thank you for that read on asian markets. until that boj decision on friday, we have plenty to bring you from the world economic forum in davos. we will be discussing geopolitics, global growth, artificial intelligence and will be speaking to a host of powerbrokers. we have got the imf managing director kristalina georgieva, sarah frier the cfo of openai, the argentinian president javier milei, the nato secretary-general mark rutte, larry fink the chairman and ceo blackrock and we have ruth {prat , the president and ceo of alphabet and google. coming up on "daybreak: europe", back online, tiktok restores service side of the u.s. after briefly going dark. we will bring you the details next. this is bloomberg. ♪ lizzy: welcome back to "bloomberg daybreak europe." coming up to 6:19 a.m. in london. breaking news crossing the terminal from the ecb. a rate cut in january not a foregone conclusion according to robert holzmann on the governing council. he says the ecb risks credibility cutting rates when cpi is rising. this, as atten

let's bring in avril hong for a check of the asian story. avril: let's start with japan first. i think the expectations coming into today was a coverage hike from the boj, and then ueda would have to sound hawkish tiktok up the japanese currency, so yen bulls seem pleasantly surprised and the immediate support levels on dollar-yen are around the 155 handle. there are those that think they are prime for gains on the japanese currency. we will wait and see what ueda ultimately says but look at how the nikkei and topix have erased gains of 0.6% earlier in the session. as you say, the chinese tariff line from trump moved markets, so we have seen outperformance of the hang seng two plus percent gains today. it played out on the currency. this next page will show you how the offshore yuan today, really steep moves about half a percent climb against the greenback, capping off a week where the tone from trump on china has sounded a lot less antagonistic. than markets had been expecting. and you think about that phone call at the start of the week, that tiktok reprieve, and then also th

avril: i think it's a lack of inflation in china that's really worrying investors.n a day where asian markets are already really cautious, you look at the declines for a second session, headed for weekly loss on the msci asia pacific amid caution, nonlaw of risk appetite given the fed signals, the concerns around potentially biden furthering more restrictions on chip exports and then add to that the china data. what we're really seeing is consumer inflation weakening for yet another month, now nearing zero. you look at the producer price dead as well, the deflationary trend for 27 months, very much intact, clearly showing an economy that despite seamless efforts has not been enough to stimulate demand which is what policymakers want to see. chinese stocks are extending some of the declines we saw earlier in the session, slipping deeper into negative territory. japanese equities underperforming today. the let's flip the board and look at how are faring the currency space. amid the specter of elevated u.s. yields and greenback strength, asian currencies have been succ

tom: avril hong in singapore with a market check. talking about the uncertainties coming from the trump policy agenda. we will get more details because donald trump's foreign-policy plans are in the spotlight. this after a freewheeling press conference where the president-elect threatened to use economic force to make canada a part of the united states. he also said he would rename the gulf of mexico as the gulf of america. and declined to rule out using force to seize the panama canal and greenland. >> can you assure the world that as you try to get control of these areas, you are not going to use military or economic coercion? >> i can't assure you. you are talking about panama and greenland. i can't assure you on either of those two but i can say this. we need them for economic security. tom: panama has already vowed to not give up the shipping canal while denmark says that while it welcomes u.s. investment in greenland, the world's largest island is not for sale. that's bring in opening trade anchor kriti gupta on what we have be

are no longer allowed to do management there no longer allowed to go with the bulldozer and put in avril's blades a wide in several places so that if a fire starters going to run up against the break and stop right there. we will control it when runs into the end of the hill helicopters come and put a couple drops onto it crews come in we are good to go. we up against a lot of folks for years now that don't like us burning they don't like us running a dozer through the brush. there's got to be some compromise here people have to understand we've got to do some of that if we are going to prevent these kinds of disasters. and that's the best we can do the encroachment into these areas as more and more and more every year. if not less the interfaces grown phenomenally in my career. these two places it was wide towarorder open and as green asu can see another's housing tracts there. bumped up nancy wildland area with the fuel loads were huge. that's makes sense. to create those boundaries to prevent it from spreading. it absolutely makes no sense press going to ask you is a complex answer to t

secondly, every day, as avril haines, the director of national intelligence, has said every day that the war in gaza goes on, you're seeing a sea change in the islamic and palestinian world as they think about, you know, their future, their lives. third, here in the u.s., there's been this almost normalization of violence, with more and more people being deranged and diluted, and therefore possible possibly attracted as this texas bar driver who killed the 14 people in new orleans. so a confluence of factors and graham help us to parse through two different kinds of of terrorism. >> one is the lone wolf who seems maybe inspired by i.s.i.s., inspired by some radical vision. and the second are a 9/11 type attack, coordinated, planned, operationalized by a group possibly in the middle east has therefore access to many more weapons, and is presumably planning a series of attacks is, you know, is one more likely than the other in the kind of world you're describing now? or do we have to be on guard for both? >> well, i think you're right to identify the two. and then you also have just th

well, when we look at some of the people who have served there, including the current incumbent like avrilaines, bill haines, she was the deputy national security advisor. she was my deputy at cia. she also served as the legal counsel for the national security council, worked at the department of state and also on the hill. so she has a wealth of national security experience. jim clapper was in the defense intelligence community for decades, and he served in the obama administration for seven years or so as director of national intelligence. dan coats, senator dan coats, he was in the intelligence committee, the senate intelligence committee. these are people with experience, but also with tremendous integrity, people that you knew that were going to carry out their responsibilities, irrespective of how the political winds might be blowing. and they needed to have that objectivity and honesty in order to ensure that the president of united states, as well as policymakers, really understand what the situation is globally. and so tulsi gabbard doesn't have the executive experience. she doesn