this is daybreak australia.e are moments away from the opening of the first major markets. .etty: i am betty liu we are looking at how all the action on wall street will play into the asia-pacific trading day, kind of a whimper in how we ended trade on friday. retail sales numbers we are looking at friday morning coming in and missing estimates for the most part, so we will get more data this week that will include numbers on the housing market that will lead to more clues whether or not the big consumer demand we have seen in the u.s. driving the u.s. markets, whether that is peering out or not. on friday we close down, the dow was down 20 points, the s&p lower. the nasdaq composite pretty much unchanged on friday. sort of a mixed, mixed session. u.s. is in, and the this relentless phase of being range bound. againatility, falling heard the 90, 93 lows. is ifa, the big agenda china dials out retail sales, income investment and assessing the production. they are all set to move the markets today. in new zealand,

haidi: that is it for daybreak australia. yvonne and betty will be next with daybreak asia.eans for extraordinary development in the ♪ macron sews a new chapter begins now. >> marine le pen accepts defeat. we will be live in paris. >> the euro picks of strength, a boost for the european union, a blow for populism. >> asia-pacific market set to rise on the election to japan gets back to business after a three-day break.

you are watching daybreak australia.on for at least one day as it grapples with a shortage of steering parts. production has been suspended since friday, and its facility in munich has been affected. it is being reported that the problem stems from an unidentified italian supplier, which has been unable to make the deliveries required by bmw. bought arren buffett 3% stake in a german company, whose state sword. up by 7% as berkshire hathaway top one of the company's six shareholders. it is transforming itself into one of the leading makers of lubricants and flame retardants. a chinese pharmacy is interested in buying the body shop, which has been put up by l'oreal. the brazilian cosmetics firm and private equity bidders are said to be among those invited for a second round. l'oreal bought the body shop from an entrepreneur in 2006. betty: the australian council is calling on companies to do more to diversify gender on board. they will vote against the reelection of the incumbent director starting with the chairman of asx

that doesn't for daybreak australia. next two hours of daybreak asia with the trading week starting. ♪ ♪ >> a mixed start in the asia-pacific, dollar and the yen rising. 83 billion dollars, signs are global trade is strengthening. >> president trump's divided opinion, angela merkel hence europe and the u.s. are drifting apart. airline may leading list its shares on a foreign exchange. >> we have the world covered here on "daybreak asia" as we look forward to the sig

you are watching daybreak australia.st word news with alecia . >> donald trump has fired james comey. only the second fbi chief in the bureau's history to be dismissed. he has been leading on investigations into alleged russian meddling into the election and links to trump aids and associates. insurance watchdog risks.ing potential the regulatory commission says it is focusing on insurers' major stock purchases as well as investment in real estate and alternative asset. china's anticorruption agency began an investigation into the 's chair.n china may raise executive compensation at banks and other state-owned enterprises to retain talent. told theay someone business figures you may review a policy. review the policy. diamond's jimmy die earned $8 million. china will deliver even with slightly lower growth forecasts. ceo david abney tells bloomberg television the economy is still strong. with expansion figures that other countries would love to have. >> we are very optimistic about china. we have had a good experience th

you are watching daybreak australia.rgy minister set all of the oil producers he talked to her on board for a nine-month extension for the cuts in june. speaking in riyadh saturday, he said saudi arabia will not pick up any slack from people who deviate for the agreed output. >> i have not spoken or heard of against thethat is extension per se. everybody likes the extension. we have not achieved our objective. reporter: are you concerned the market is pricing the cuts in, meaning it will be difficult throughout? >> we are looking for a specific -- not looking for a specific price. we are looking for an agreement to a consensus and clarity for the markets, steady as we go, contributed with that. markets too much in the by a large group of producers, opec and non-opec working together. claritytive clearly is of where the market is going. i am less concerned about prices over the next 12 months and then supplies decade when may be short, and the approaching -- and we have the annual decline. unless we invest, overcome the d

daybreak asiae and daybreak australia podcast.♪ ramy: a quick check of the latest business flash headlines. taco bell is looking overseas with hundreds of new restaurants over the next five years. india, and canada are on the list. taco bell says it is focusing on the four countries as their big economies with large numbers of young people. home market is increasingly saturated with fast food. yvonne: i wonder if china likes union leaders say the country issued so-called voluntary resignation notices to workers who have been absent for more than five days. freeport says about 4000 workers opted out. philippine bank governor saying there is no race to raise rates. he says the bank is constantly reviewing the situation and actually does not they are behind the curve re. espenilla takes office in challenging circumstances. martial law is in mindanao. yvonne: a look at what is coming up in the next few hours. heidi, i know you are watching the g7 . haidi: is it going to be awkward in sicily? one would have to assume so. brexit and tra

anchor: that was steven ciobo speaking earlier on daybreak australia. now, the u.s.ttorney general has interviewed potential candidates for fbi director -- this is following the sacking of james comey. in washington, there are reports that president shared highly classified information with russian officials. bloombergs justin joining d.c. the line from we just heard from mcmaster, the national, saying that all these reports about disclosing information, they are false. who do we believe here? >> it is tricky. on the one hand, mcmaster was denying the administration leaked sources and methods. that is not actually the thrust of the washington post report. they say the president in concerns over laptops being possibly used as weapons on plans, said what city kind of those concerns were radiating out of. that is something that is not public and could have revealed inadvertently the source of the information. the white house is denying this strongly, but not denying the merits of the washington post story, but kind of a separate issue. shery: the post also says that the

daybreak asia. let's get to the first word news with ramy inocencio. ramy: first, australia.ounced $55 billion funding for infrastructure. a return tot, surplus predicted by 2021 but that requires wage growth to accelerate above 3% from below 2% at the moment. big banks face a new tax which will raise $4.6 billion over two years, calling it a direct attack on jobs and growth. hasouth korea, moon jae-in claimed victory, pledging to unite the country after nine years of rule that ended with the impeachment of the president. moon has more than 40% of support, well ahead of his rivals. he campaigned on taking a tough line against korea's conglomerates and a softer approach to north korea. and china, banks and other state-owned enterprises may retain talent. sources say top business figures may review a policy that cap pay at a fraction of their foreign peers. that saw the earnings of china construction bank chairman halve to $87,000 in 2015. earned $20dimon million last year. and embattled commodity traders says it expects a first-quarter loss of $130 million because of wrong way

betty: australia's aaa rating back in the spotlight ahead of a budget seen as long on spending, but short on spending. and we have the world covered on daybreak asia and we will go to solvi seoul. >> it is budget day in australia, just hours away from the revelation of details. we are going to head to sydney for the latest. this is "bloomberg daybreak: asia," coming to you. i'm betty liu in new york, where it is after 7:00 p.m. yvonne: it is just after 7:00 a.m. in hong kong. it seems like politics are going to be dominating the market. not the typical d.c. news flow to get out of the trump administration, but south korea voters, 52 million of them heading to the polls today, and budget day down under. betty: as we have noted, it looks like korean stocks seem to have priced in the volatility in those elections. they are just going higher. markets are actually quite attractive in south korea. topics is going to be the aaa rating, and what the budget details on whether that rating is in fact going to be jeopardized, or is all that talk just much ado about nothing? meanwhile, stocks in the u.s., closing near the all-time highs. low.ility at a 24

daybreak asia" ♪ ." tuesday is budget day in australia.will be the key element to watch. we will be watching warnings in earnings in japan, the carmakers in particular. toyota reporting on wednesday. analysts are pretty bearish, predicting profits for toyota to fall 13% last quarter, u.s. a sale slowing since the start of the year. they have also struggled with the stronger yen. take a look at this terminal chart, you can see this competition they have had with volkswagen to be the number one global automaker. it has had volkswagen coming off of this emissions scandal and rebounding significantly. the market cap has been normalized between volkswagen and toyota. thereof analysts saying is not a lot of good or positive for the fourth quarter of and at the fourth quarter for turkey at it was a miss. the company has made an increasing focus on quality, so tour yoda may be a difficult one -- toyota may be difficult to offset that yen. we also have rising rates in the u.s., the cost of raw materials have gone up, and continued risk from fx rate

western australia is looking to reduce its $22 billion debt pile of which the government said could take decades. >> that is it from us here on "daybreakdevelopments out of north korea. we are seeing market reaction limited, but what is the reaction so far? it takesu wonder what for these korean equity markets to have any sort of reaction that is anything more than just sanguine. this is the ninth missile test from pyongyang, so certainly up the saber rattling out of north korea and creating a headache when it comes to the incoming new president, moon jae-in. this may force his hand. we are continuing to monitor statements coming from south korea and japan. also, what china can do about the situation, because they have been under pressure from the u.s. to do more to curb north korea. >> indeed, right, and ending on china, china's central bank said to be changing how it calculates the daily reference rate. it has been slowly creeping up here it is this a sign we are seeing intervention from the central bank to prop up the yen? >> you and i both know there have been some behind the scenes maneuverings to keep the yuan stable, stability k

here in daybreak asia, let's check energy markets and see whether china's challenge to boeing and airbus is actually a threat. betty: and we will see if whether president trump and australia'srime minister can mend ties after that tends phone call this year. and come up berkshire hathaway's shareholder meeting. liu inive, i am betty new york. it is just after 7:00 p.m. yvonne: it is just after 7:00 a.m. here in hong kong. we have this capitulation in the commodities market. betty: the markets would have gained except for the fact we had oil prices really dragging down to some of these energy shares. oil continuing to plunge lower and lower. brighter for investors, the health care bill passing the house, the senate, and whether it will be put into action. we have the big jobs report. yvonne: they are looking for a reprieve, not what they have seen in march. the fed has put pressure on them now. look how asia is performing new zealand, flat. .6972.olding at australia, closing to the lowest levers since the commodity index since september with oil taking a 5% leg a lower. we see it at .4553. brent holding below $49. futures heading lower today. could see pressure on stocks. we

australia's trade minister. sales haves. auto put the brakes on, trade in focus. the latest results, which don't make great reading for the u.s. consumer. this is bloomberg. ♪ >> this is "daybreak" i am yvonne man in hong kong. betty liu in new york. a slump in u.s. auto sales continues, down for a fourth straight month after that record year in 2016, not only impacting carmakers, but triggered a selloff in parts suppliers as well. su keenan has been surveying the damage. su: it was a bearish report. the slide is continuing. belysts thought there would a bounce back from the harsh numbers we got in march, not so. in april, sales for six of the biggest carmakers dropped again with ford and honda posting 7% declines each. to make matters worse, each fallny had their figures short of what analysts estimated, and that sent the a fourth straight down month after record sales in 2016. let's look at ford, a fresh low for the year, down 4.5%. it has not been that low in a while. honda is flat for the year, was down 1% on the news, but again, one of the steeper declines. we generally look to companies like honda to doing a little better, and yet it was right in there with the steepest d