haidi: what are the major risks?es seem to be we are clearly not at the end of the consolidation in the properties sector. are there opportunities where you think there is better shielded areas and segments from risk? >> yes. property continues to be a big driver of gdp growth in china. the government is trying to prop up that sector. having said that, there are lower risk opportunities. a team we have been very big on is sustainability. within sustainability, looking beyond the obvious, factory stocks and stole -- solar stocks, but stocks they are looking for are stocks that traditionally are not very green but are now going through a change. coal companies now moving to -- has been a really strong thing for us in our portfolios. haidi: how much does that transition to green energy worsen inflationary pressures around the world? >> you are right, it is worsening inflationary pressures not just in china, but everywhere. as the cost of carbon goes up and there is limited supply of alternatives. investing in these stoc

haidi: that is good to hear.e could see an end to this pandemic, thus is what many people have been hoping for for the past two years. is a picture of the end of the pandemic has changed, what now? >> we are very hopeful that we are ending in the right direction. that the buyers is getting more manageable. -- and that the virus is getting more manageable. we have prevented deaths, we can prevent. the virus will not be eliminated. we will learn to cope with it. haidi: from your mouth to god's ears. let us hope you are working his way towards it -- we are working its way towards it. time for morning calls. despite the virus infection and mounting headwinds, global stocks may have more upside. -- upsides. 8% increase in the ms ci all country world index. citi shows room to buy the dips and strategists show that u.k. over ways of japan who is more sensitive to higher rates than the u.s.. we continue to watch u.s. stocks because the near-term outlook may not be as rosy. chris harvey saying this cathartic object with t

♪ haidi: i am haidi stroud-watts in the and we are counting down to the market open.hery: i am sherry in new york. welcome to "daybreak: asia." bracing for volatility this week with u.s. inflation figures do after the jobs report adds pressure on the fed. investors by the global rise in cases as china is the first community spread of omicron in shenzen. 100,000 new daily infections in the u.s. reported for the fourth time. and novak djokovic has court is our, by the austrian government warns that he could be detained again if he is not successful in overturning his visa cancellation. haidi: omicron is top of mind for markets as they continue to digest the fallout from the disappointing jobs number. payrolls: to question the strength of the labor market in this recovery. we are also watching out for the highly anticipated and expected to be very strong u.s. inflation number out this week. in addition to the china eco-numbers, to set the scene for what we can expect for growth. in australia we are seeing an upside of 10%. more than 100,000 new cases of the coronavirus o

haidi: and i'm haidi stroud-watts in sydney. asia's major markets just opened for trade.hing in a negative session with corporate earnings and tighter monetary policy. the shift away from tech sees the nasdaq in correction territory. a chinese property hopes a lighter touch from beijing. plus the standard chartered of technology posting a post-pandemic rebound. shery: energy leading those losses. we are seeing wti right now reversing that gain that we saw with the crude prices at that seven-year high in the new york session. financials also loosen. the japanese yen holding at the 114 level. we saw it at the highest in about a week in the u.s. dollar given the risk off sentiment we have seen broadly. we did get those trade numbers out of japan. export numbers beating expectations, coming in at a agin of 17.5% -- at a gain of 17.5% year on year. import prices gaining 40% given weaker commodities prices. kospi unchanged at the open. the longest losing streak since november. five sessions of losses already for the kospi. we see the korean won gaining against the u.s. dollar a

haidi. in fact, we are seeing with those treasury features holding declines, we are seeing the three year yield climbing in australia, the highest since may 2019. traders ramping up bets. early in more often than what has been expected so far, leading to the warning sign we are seeing when it comes to the trading in the aussie dollar. the record short position. we have seen that adding into the bets against the currency for months now but the danger is that the fed goes ahead and we see that scaling back of expectations for the rba to follow suit. this is what is happening when it comes to the equity session. we are seeing the asx a little bit tepid at the moment. leadership when it comes to tech. consumer stocks trading higher but interestingly, with brent crude trading close to 2014 highs, oil is one of the laggards as well as financials on the back foot as well. kiwi stocks continuing to extend that decline. five out of the past seven sessions. the lowest in about a month. when it comes t

haidi: the latest in hong kong. let's get to the latest in australia and the world of tennis -- number one men's player, novak djokovic has been deported from asteria. they have canceled his visa and over the weekend, the tennis star lost his court battle to overturn the decision in front of the federal court. we heard from the prime minister this morning, speaking to local radio saying that this deportation does mean a three year automatic banned from entering the country, but he or someone else in the situation could be allowed to return under special circumstances. >> it is a three year ban, which sounds severe but you are quite right. just as the minister had discretion to throw him out about show your, the minister has the discretion to take another look at that band. it is entirely possible he could compete in the 2023 aussie open if he felt he wanted to do so, but 2022 now officially toast for him. a full bench of the federal court heard this case and it was unanimous upholding the decision to deport him. the

haidi: what was the response from the white house? >> we heard clearly disappointment from the white house that this has been an important tool in their toolkit to try to get more pedal -- people vaccinated. they said this was going to be very important to do that, yet they said they hope that states and individual businesses will continue to do the right thing and stick with this even if osha cannot require it anymore. we heard later today that they will not appeal this, they will let it stand and they will try other things to get the vaccinations and booster rates higher. haidi: coming up next, our exclusive interview with the fed governor who has already signaled that arch will be -- march will be -- this is bloomberg. ♪ >> welcome back to "daybreak: asia." with price pressures in the u.s. the highest since 1982, a number have called for in interest-rate increase as early as march. joining me is fed reserve governor christopher waller. the timing couldn't be better. we just got the big move in inflation. as early as december 17, yo

haidi: paul allen in sydney.cks in focus, we will be watching rio tinto at the start of trading in sydney. we will be keeping an eye on the refiner. the electronics retailer reporting just under $288 million. we will reaction for that. consumer sentiment has a question given the spread of the virus. they have emerged as one of the prime contenders for the country's biggest pet and vet retailer. the company is owned by ppg capital. ♪ certainly there. the question will be, how quickly can all of us execute to build capacity to meet that demand? that is what we are very busy doing in the next 24 months. we expect to get to about 600,000 battery electric units globally. that is before our bigger investments we are making in kentucky and tennessee for batteries as well as assembly. they do not come online until about 2025. ♪ haidi: good morning. we are counting you down to asia's major market open. david: i'm david in hong kong. welcome to "bloomberg daybreak: asia." our top stories this hour, china scrapping winter o

haidi: and i'm haidi stroud-watts. asia's major markets just open for trade.tories this hour. apac stocks are set to fall after a late day reversal on wall street. the nasdaq 100 sinking into correction. pressure on china tech. beijing vowing to slow the curve on influence on market. evergrande offshore bondholders up in arms about what they call the developer's opaque restructuring plans. shery: breaking news out of south korea. we have the trade numbers for the first 20 days of the month, exports rising 22%. double-digit gains also for imports in the first 20 days of the year, rising 38.4% year on year. this comes after a lot of deceleration in the month of december. we have seen external demand normalizing. the base of comparison becoming less favorable for south korea. still when it comes to chip exports, they did rise by 25% they did rise by. we continue to see those double-digit gains. take a look at how markets are trading. we are seeing broad downside pressure across markets in asia with the kospi down 8/10 of 1%, reversing that gain from the previous

haidi: river davis there.g up next on daybreak asia, we speak with henry chong about his plans for asia's first fully regulated digital securities exchange. this is bloomberg. ♪ ♪ >> this is daybreak: asia. the pboc has pledged to use more tools of ease credit stress as signs of a property slump worsen. the central bank will roll out additional policies to stabilize growth and make preemptive moves. the poc expected to allow lumbers -- lenders to cut the rate on thursday. inflation has reached an excessive level. the cofounder says that the result of central-bank stimulus used to prop up economies during the pandemic. he says the fed should have been preparing to raise rates months ago. he shared his strategies with bloomberg, adding that timing is not a winning trade for most investors. >> if you think you're going to be living and inflationary times, you should have things which will do great under that scenario. number one, you might want to have more floating-rate debt than fixed-rate debt because fixed-ra

haidi: very good morning. i'm haidi stroud-watts in sydney. yvonne: i'm shery ahn -- shery: i'm shery ahn in new york. hot u.s. inflation further bakes in market expectations for a march rate hike. china's political meetings as the virus flareup near beijing raises concerns over the winter olympics. plus, the u.s. house nearing a deal on the china competition bill that could pump billions of dollars into the chip industry. haidi: let's take a look at how we're settling into the first few minutes of trade here in australia. we have future showing a little bit of downside as we process implications, not just for the fed, but how the tightening path is going to affect other global central banks, particularly here in asia, where they may face the choice between keeping up with the fed and maintaining support with the domestic recovery, as well. we are seeing a pretty much unchanged session, watching crown results as they get closer to that deal with blackstone. kiwi stocks are up .3%, with lots of analysts projecting further volatility in its curr

haidi: who will do well in advisory fees?of america hasn't reported yet, but that is one where they have a big advisory business. wells fargo has already reported. they are losing advisors overall. the productivity is going up, i think you will see decent results for advisory fees in general with assets having grown. the wealth industry has been a good space to be in and for that, there is strength across the board in general. shery: how much willy's banks struggle with rising wage pressures customer? goldman sachs is expected to have a payout for its top 1% in the millions, multiple of millions of dollars. at the same time, there is the broader inflationary trend, not to mention that the competition for talent is really tough right now. eric: that's a great point and something people will be paying attention to. for example, with jp morgan's earnings, they broke out there expense increase into two categories and one of them, they called structural increases. by that, you can assume one of the major drivers was wage increases

haidi: when do you expect to turn profitable then?itability, as we launched two months ago, we had 2024, five years. we're at the turning point coming this year. the breakeven point, 2024. shery: will wealth management player role in that calculation? what are your plans on that sector? rockson: actually both. we're a bank, so it's one of the lkey revenue drivers. wealth management which hopefully be launching shortly will be one of our two kets. t -- two keys. the first is insurance which we launched last may. we're bringing new experiences for the hong kong users. shery: what is your assessment of what traditional lenders are doing? because we continue to see more of these big banks like hsbc trying to step up their digital presence as well. rockson: yes. i think all of us in the hong kong banking industry has the same goal, to bring the best experience to our users. [indiscernible] the first of five focus areas for all banks. both striving to offer a better digital experience. we are all doing a very aggressive job. shery: given th

haidi: very good morning. i'm haidi stroud-watts in sydney.hery ahn -- shery: i'm shery ahn in new york. hot u.s. inflation further bakes in market expectations for a march rate hike. china's political meetings as the virus flareup

haidi: good morning. we are counting down to asia's major market open.e nasdaq 100 fell into correction. new pressure on china tech.

. ♪ ♪ haidi: we are counting down to ages major market open. shery: welcome to daybreak asia.hour, asian stocks setup hollow abounds in the u.s. after jay powell thomases to tackle inflation to extend the economic expansion. other fed policy makers they are ready to act. loretta mest

. ♪ haidi: good morning. we are counting down to asia's major market open.e to "daybreak: asia." we speak exclusively this hour with a fed governor. central bank hawkish this is said to weigh on

i am haidi stroud-watts in sydney and i am counting down to asia's major market open. >> welcome to daybreaksia. the top stories this hour. asian stocks set to extend losses following a surge in treasury yields and the prospect of a tighter fed. china's central bank uses more policy to assist or the economy and ease credit stress. >>

i am haidi stroud-watts in sydney. >> i am shery ahn in new york. welcome to daybreak: asia.s set to slip as debt buyers help wall street to relay rebounds. jay powell vows

. ♪ haidi: we are counting down to asia's major market open.hery: our top stories this hour, asian traders way a tough session on wall street with the nasdaq falling into correction territory. president biden marks one year in

haidi: 10:29 a.m. in hong kong and shanghai.them and the cia asia and back -- at the msci asia impact index, losing on the back of the fed, powell saying despite rate rises, he is expecting the economy can withstand that. rishaad: the i word in focus in china. the country reported commodity prices going down and also pork prices also falling, leading to far more muted price rises than anticipated. vonnie: inflation in china moderating in december as the government boosted commodity surprise -- commodity supplies. ppi rose 10.3% on the year, falling from 12.9% in november. cpi came in at 1.5% as food prices fell. both readings fell short of economist estimates. china's rising covid cases may be a declining factor for raw materials prices. fed chair powell says he will do what is necessary to prolong expansion. fresh details on the u.s. monetary policy. powell's remarks were regarded by some of his colleagues who called for the fed to start raising rates in march. more fed officials backing raising interest rates soon and accelera

haidi: the roller coaster ride for cryptos continue. shery: many of them were crushed in a brutal selloff that has raised more than $1 trillion from the market value. bloomberg's su keenan joins us with the latest. we are seeing some stabilization in asian trading. what is going on? su: we know that even for the diehard bitcoin supporters who are used to volatility, the last 74 hours were a very rough ride. in fact, if we look at the one-week losses for bitcoin which again, have stabilized a bit, it is still set for the worst one week in eight months. you are looking at the bloomberg right now, which shows that 50% drop on saturday, just 24 hours ago, it was below the $34,000 level, 50% below its peak, which was almost at $69,000, close to the $70,000 level in november. let's look at the one-week losses, they are brutal. more than $600 billion in market value wiped out from bitcoin's peak alone. it could take some time for a bottom to form, analysts say, and for confidence to return. if we look at the past few days, you can see the rout