this is bloomberg. ♪ were almost done for daybreak australia this morning. sia is up next. let's take a look at what we have coming up. town,y the big story in the trade tensions between the u.s. and china. the list that the u.s. has come out with on $200 billion worth of chinese goods. professorking with a of economics at the chinese university of hong kong. we will talk more about what is it stake here. china maythat retaliate on some countermeasures but it is not going to be seen as an escalation of the trade frictions. also he's is the most likely notome is perhaps it will do a whole lot when it comes to trade deficits. this is just going to force them to work with other partners like vietnam and bangladesh. to get their imports from. >> in addition, we're going to talk to chris zack rally. will see about market reaction in the winners and losers. we will look at what he is interested in buying as well. semiconductors, the biotech space, what will he be avoiding as well. >> we are circling back to the broader theme of trade wars and brexit and other risks

that is it for daybreak australia. all of the action next in daybreak asia.berg. ♪ bloomberg. ♪ phones have made our lives effortless. streaming "must see tv" has never been easier. paying for things is a breeze. and getting into new places is even simpler. with xfinity mobile saving money is effortless too. it's the only network that combines america's largest most reliable 4g lte with the most wifi hotspots and it can be included with xfinity internet. which could save you hundreds of dollars a year. it's a new kind of network designed to save you money. click, call or visit a store today. yvonne: here in hong kong, we are live from the asian headquarters. welcome to "daybreak: asia." president trump heads for helsinki as he bashes allies again. he will be meeting president clinton after also attacking the u.k..any and observers ramy: observers wonder what is next. -- observers wonder what is next. ramy: beijing says

that is to come over the next couple of hours on daybreak asia and this is it on daybreak australia. : we are live bloomberg's asian headquarters. i am yvonne man. welcome to "daybreak asia." asia-pacific markets to open higher after financials gave wall street a lift. a lot of attention turning to the bond market. google's parent may give tech a boost. improving at business. -- ad business. kathleen: i am kathleen hays in new york. pushed the u.s. has been around for too long. china rejects the president's

this is "bloomberg daybreak: australia." the open ofay from asian markets. >> will look at all the action here on wall street and have will play into your asia-pacific trading day. it was deathly and earnings story driving the green on the board today. let's get to the markets now so we can show you how those ended. take a look at the dow and s&p, the s&p fulling further her away from the 1800 mark, of about .5%. the highestll at since february 1. the dow is now at its highest in the past six weeks. the nasdaq doesn't really tell the story of what happened during the day, a close flat but it had been as high as 1.1% earlier on tech earnings, especially on alphabet. let's look at the boards, there's an interesting currency story that you deftly want to know about. this is the turkish lira, now it 4.88, pushing toward more weakness after a surprise interest rate staying pat. his question of central bank independence right now especially with erdogan son-in-law being at the helm of the central bank. 4.9.d been as high as expect

ramy: that is it for us on "daybreak: australia." we will be back on daybreak asia with more.n and back up. our phones are more than just phones. they are pocket sized personal trainers... last minute gift finders... siri: destination ahead. and discoverers of new places. it's the internet in your hand. that's why xfinity mobile can be included with xfinity internet. which could save you hunreds of dollars a year. plus get $150 when you bring in your own phone. its a new kind of network designed to save you money. click, call or visit a store today. haidi: welcome to daybreak asia. stocks are set to slide. the dollar reeling as president trump attacks the fed. the u.n. remains at a 12 month low as investors weigh china's monetary policy in the face of a slowing growth. and i am in new york where it is just past seven p.m. on thursday. the auto industry fights back. jobs atld put american risk. the semiconductor trims

paul: that's almost it for daybreak australia. yvonne man are going to have plenty to talk about going into daybreak asia. what have we got coming up? yvonne: looks to be a pretty risk on day. still waiting sentiment around u.s. companies in china. given trade tensions, there is several weeks before the u.s. and china can strike a deal before this tariffs goes into effect. we have an interesting report saying despite the trade tensions, u.s. companies in china to increase investment in china. we talk about why. kenneth gerrit joining us in the 7:00 hour. ramy: before that, we will talk about what is happening in markets right now and the rest of the summer in the northern hemisphere. us in abouts joins 12 minutes time. paul: you mentioned the yen weakening to the lowest since june. later, we will have do you give a sean talking about foreign exchange and the trade war. 10:00 coming up 10 past sydney time. that's it for daybreak asia. this is bloomberg. ♪ >> it is 7:00 a.m. in hong kong. i am yvonne man. this is daybreak asia and we

you are watching daybreak australia.is turning out for a central bank week with policy meetings in the u.s., japan, the u.k. and elsewhere. the markets are expecting a possible surprise. the week takes off with the bank of japan tuesday, followed by the fed, the reserve bank of india, wednesday, then the bank of england let's bring in a senior fellow, carl smith, who is also a bloomberg opinion columnist coming to us from washington, dc. looking at what happened with the gdp read, with the fed here, it seems like two more hikes are in the cards. carl: i think that is probably right. if anything we are looking at the possibility of another hike being moved up. the numbers came in pretty strong. everybody thought they would be, but to me the underlying demand looks at the top of what anyone would have thought. you would exclude some of the boom we got in exports, but still it is strong. ramy: critics are saying this blip or this pop is temporary. what you think? karl: i don't think so. one of the reasons people think it is

there is plenty more to come from daybreak australia.like asian markets will get off on the right foot again after a difficult couple of weeks. outside of .6% one we get into the sydney open. a beautiful shot of the sydney harbour bridge. lots of talk about in the next couple of hours. also, president trump set to announce his choice for the supreme court. the candidate that to replace the retiring justice anthony jurisprudenceset in the u.s. for years to come. this is bloomberg. ♪ retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. yvonne: it is 7:00 a.m. here in the hong kong. i am yvonne man. welcome to "daybreak asia." the top stories this tuesday, asian-pacif

that's it for daybreak australia. all the action coming up next. vonne: 7:00 a.m. in hong kong. we are live from bloomberg's asia headquarters. i'm yvonne man. welcome to daybreak asia. the yen climbed as president trump prepares new tariffs on china. they involve 10% duties on $200 billion of products. beijing has already vowed to retaliate dollar for dollar. critics say the escalating trade were could threaten global growth. ramy: from bloomberg's global headquarters, i'm ramy inocencio in new york, where it is just past 7:00 p.m. singapore's investment giant is turning cautious after years of spending. thomas it sees global growth slowing down. renewed tension in nato. washington says membersh

you are watching "daybreak: australia."ook plunging in late trade after the disappointing growth forecast. qualcomm all but abandoning its bid to acquire a rival. joining us now is john o'donoghue. you among others have high expectations for facebook, particularly when we saw the details about ad revenue for alphabet. were you disappointed in the numbers? it was a miss, not a bad miss. >> good afternoon. or good morning. basically if one understands the work we do, where we talked to ,dd agencies and media buyers the numbers we found in the marketplace were reflected in what facebook reported. i think the forward guidance inasmuch as they are conservative, this was much more han what we areha looking for and it is reflected in the way the stock is trading right now. it was surprising on the guidance numbers. haidi: is this an existential moment for facebook? it is the dominant force when it has the holy grail of user data and information that people want. danger intion in anyway? >> that is a good question. one thing is the

watchingu're "bloomberg daybreak: australia." tumbled in late trade despite beating estimates for the second quarter and raising its full-year outlook. giants such as google and amazon continuing to upgrade their networks built on intel products. reporter joins us from san francisco. why are investors not impressed? whatey're looking beyond intel said today. as you pointed out, the numeral -- the numbers were fantastic, better than expected. the forecast was above expectations. what they're really focused on is intel's future, which is tied in with how good it is that manufacturing, again, intel talk about delays and how it's next year -- next you round of manufacturing will be delayed until well into next year. ramy: these are the first results were seeing after the ceo left. to what degree do you think there might be a leadership vacuum issue at the helm of the company? whenwhat happened was brian was basically tossed out of the company, that kind of lifted the lid on underlying concerns that investors and analysts had about in

and you are watching "daybreak: australia."ord news.o first jessica: the trump administration says it is premature to discuss leaving the wto, although the president has repeated his warnings about that treatment. commerce secretary wilbur ross says it is more important to impose reforms than to simply walk away. over the weekend, reports the white house has drafted a bill that would require the president ignore fundamental wto rules. >> the pto has treated the united states very badly, and i hope they change their ways. they have been treating us very badly for many years, and that's why we were at a big disadvantage with the wto, and we're not planning anything now, but if they don't treat us properly, we will be doing something. to bea: tesla said positing model three production just days after reaching its output target of 5000 cars a week. were told the lines will resume operations on thursday and the break will allow the company to carry out basic maintenance work. shares closed down in new york and some analysts question

you are watching daybreak australia.interesting chart to show you from our bloomberg new colleagues, about the world's biggest lithium ion battery. take a look at this. you are seeing the revenue that is coming out of this battery, built by tesla, in less than 100 days. you can see where most of the money comes from. ancillary services. this battery made money even when it wasn't even doing anything, it was idle. and made more than 8 million aussie dollars. is interesting to see the future of sustainability in the future of keeping batteries on hand, especially in this region or in similar regions, in terms of where they have unreliable sources of energy. one interesting number that i want to share with you, it contributed to a 73% fall in cost for these kinds of ancillary services. it also shows that it can be cheaper and competitive with more traditional sources of energy out there. it started with one of these things that seemed a bit crazy. a lot of the themes -- things that elon musk it does. he said he can fix sout

haidi: you're watching "bloomberg daybreak: australia."ust getting an update on the aero mexico flight. most passengers left on foot. no report yet of any for tallies in that -- of any fatalities according to officials there. the durango government saying there were no deaths in the crash. we will get you more details on the incident as they become available. let's get more reaction on all the central bank activity going on this week. os, he used in dino k to work at the new york fed, so well-placed to give us some insight into what policymakers are thinking at the moment. trade war,about this potential trade tensions and how it weighs on monetary policy. how can the fed way up these uncertainties as a deliberate this month and next month when were expected to see another hike? dino: there isn't much they can do about the trade tensions himself. but they will be interested in doing is to assess the impact it might have on economic growth or inflation. what you are seeing already in the earnings reports of a number of companies, there talki

you are watching daybreak australia. u.s.ry of state mike pompeo has fired back after north korea issued a statement calling american disarmament demands gangster like an cancerous. to achieveermined the commitment president trump made and counting on chairman kim to be determined to follow through on the commitment he made. if those requests were gangster like, the world is a gangster because it was a unanimous decision to the u n security council of what needs to be achieved. ramy: let's get more from bloomberg editor ros krasny. what should we make of the statement because this is a walk back to the rhetoric we have not heard since trump and tim met in -- kim met in singapore. is this a serious impasse or is it a bargaining tactic and how much of the statement and we see yesterday really affected a domestic audience or was it aimed at president trump? we think in washington it was more a bargaining tactic. really showing the u.s. regardless of what happened at the singapore summit, kim jong-un is not going to bargain away

that's it for "daybreak australia." donald trump is still speaking in great falls, montana, and his make america great again event there. you can watch it online go on the bloomberg. this is bloomberg. ♪ i'm all about my bed. this mattress is dangerously comfortable. when i get in, i literally say ahh. introducing the leesa mattress. a better place to sleep. this bed hugs my body. i'm now a morning person. the leesa mattress is designed to provide strong support, relieve pressure and optimize air flow to keep you cool. hello bed of my dreams. order online we'll build it, box it and ship it to your door for you to enjoy. sleep on it for up to one hundred nights and love it! or you'll get a full refund. returns are free and easy. i love my leesa. today is gonna be great. read our reviews then try the leesa mattress in your own home. experience the leesa difference before you buy at any west elm. order now and get $150 off, and free shipping, too. go to buyleesa.com today. you need this bed. >> it is 7:00 a.m. in hong kong

in new am ramy inocencio york, and you're watching "daybreak australia."es are rushing to align their plans with beijing. jia harbour group is one infrastructure player looking to capitalize on both the china 2025 program and president she is massive belt and road initiative. 's belt andt xi road initiative. >> the chinese market has passed its peak in terms of building a for structure projects. places like southeast asia and the middle east are seeing really strong demand while countries like vietnam, indonesia, and bangladesh have only just begun nationwide construction of highways, power plants, and ports. we see the biggest business opportunities in places like hong kong and singapore, which have large populations but limited space. they are desperate for land. we have over 500 large projects across the world with a total value of $15 billion. we are very excited about the prospect of our business. >> what percentage of your revenues do you expect to derive from projects linked to the belt and road initiative? >> our company began a push years back and

you are watching daybreak australia. oil prices would trading resumes after president trump's weekend tweets, suggesting the king had agreed to pump in addition to million barrels a day, but they have -- noied they will not specific target was set. crossing -- causing quite a bit of reaction. david, great to have you. what trump tweets and says and is pressuring opec to do a side, still upside for the market. david: there is no doubt about it we have seen oil prices reacting to a positive outlook what is happening now. would put pressure to the downside, but we have clarified what was said in the meeting. it was no agreement to pump additional. a couple weeks ago, opec said we are not going to pop -- we are going to pump about one million extra anyway, so it seems to be where they are comfortable tatts. we saw the oil price react on the positive side and saw donald trump's tweet has been clarified. it is now positive. we have got disruptions of production in venezuela, which we have seen over the course of this year. and

and you areydney watching daybreak australia. targeting becoming the high-tech superpower and the industrial leaders are taking us. one of the largest copper cable manufacturers is turning to electric cars as the founder and chairman tells us that he plans to push into the crowded market. the far east group has been in industrial leader in copper cable production for a couple of decades and we now need a strategy to become a leading player in the smart energy and city business. we have a history of 110 years and we have built a lithium 2700attery and it produces batteries that are compatible with tesla cars and we have invested in lithium mines. much are you investing in the battery space and what is the opportunity you see? that, we have invested in the energy sector up to ludes productivity 10 billion yuan and it will grow in the business. >> how much of a challenge will dispose for the business? chineserowth of the economy and the development of the businesses shouldn't be seen as a threat. the chinese economy will see the opp

"daybreak: australia" with yvonne and ramy. this is bloomberg. ♪ yvonne: it is 7:00 a.m.ng kong. welcome to "day break asia." asia pacific markets headed for declines after wall street gains fizzled out. investors remain worried about tariffs. the dollar pulls back after the pboc repeats the pledge not to use the yen as a weapon in a trade war with with the u.s. ramy: and from bloomberg's global headquarters, i'm ramy in new york where it's just past 7:00 p.m. lawmakers weigh the seven-year ban. malaysia's missing money.

and you're watching "daybreak australia." let's get the first news with jessica somers.camplet government borrowing in the second half will jump to the most since the financial crisis as the neigh's fiscal health worsens despite a strengthening economy. it expects to issue $390 billion in marketable debt from july to september they feel fourth highest total for that period on record. higher than what was estimated in trill. -- in april. wilbur ross says go are going well and may be close to wrapping up. the president wasted in time in appointing a new trade team. president trump admitted he may pursue a bilateral deal with exico before separate gos with canada. cbs' les moon vest will remain as c.e.o. for the time being as outside counsel investigates allegations of sexual harassment. several women said they were sexually intimidated and their career suffered when they refiesed advances from moonves. they describe a culture of harassment at cbs. the owner of nyse is said to have fired a dozen employees after acquiring the exchange. c.e.o. john karen is among those who le

this is "bloomberg daybreak: australia."rome two hours away asia's first major markets. >> good morning. it is past six ago p.m. in new york. i am ramy inocencio. we will be looking at how the action on wall street and across the united states will play into europe, asia and -- pacific trading day. it really is a different day depending on what kind of news comes out. especially with u.s. trade tensions. different directions, especially for the markets. we saw the nasdaq as well as the s&p both down. the dow actually ended up higher . you can see basically we ended mixed here. -- ins, good news, in the terms of u.s.-china trade war. the imf is saying the tensions could derail global demand and its rebound. earnings, definitely in the driver seat. the s&p 500 pushing -- push and pull because financials with the winner of the bank of america news. energy was a laggard because oil falling. wti as well as brent both falling about 4%. flipping the boards, there were things after hours we want to take note of. most specifically wi

australia. on australian trade minister daybreak asia at 7:50 a.m. hong kong time.ou first word news with paul allen. >> former malaysian prime minister najib charged with criminal breach of trust. is in the administrative court in the capital after his arrest tuesday night. $7 billion went missing from the fund under his administration. he denies any wrongdoing. china says premier li ka-shing presents a good chance for good cooperation on trade. beijing and brussels need to deepen their consensus on rules-based multilateral trade and called for cooperation and technology, agricultural, and finance. li ka-shing will visit bulgaria in germany for governmental meetings. cryptoas blocked currencies as the supreme court refused to overturn the ban on banks dealing in digital tokens. the central bank told judges that the coin and other cryptocurrencies cannot be treated as currency under existing law. it says coins must be made of metal or existing physical form and the stamped by the government. england will face sweden and the world cup quarterfinals after eliminating

daybreak asia." this is bloomberg. ♪ yvonne: we are counting down to the market open in japan, south korea, and australia, less than threeway, hoping for some kind of bounce back after the rebound on wall street. really overshadowed the trade concerns. we see equity futures in asia firmer across the board. key will be china after that bloodbath we thought yesterday on the shanghai composite. joins us later, nick for discussion on g10 currencies. what does that mean for the renminbi? could it push the yen higher? the market open, coming up next. this is bloomberg. ♪ retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. markets remain under pressure and continues to climb. oil and precious metals are down. >> from bloomberg's global headquarters, it i

daybreak: asia" this is bloomberg. ♪ yvonne: business flash headlines on the breaking news we have seen in last hour from australia. entertainment company has agreed to buy fairfax media worth $1.6 million. nine shareholders will retain 51.1% of the new entity with her fax holders to keep the rest. more to retire at the end of november. joining the company in 1987, heads the group asset management arm. this is bloomberg. ♪ retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. streaming must see tv has never been easier. paying for things is a breeze. and getting into new places is even simpler. with xfinity mobile, saving money is effortless too. it's the only network that combines america's largest, most reliable 4g lte with the most wi-fi ho