haidi: market just come online. annabelle: we are cutting down to asia major market trading opened at the top stories this hour. the s&p 500 closes in historic high as the federal reserve signals its on track to cut rates for the first time in two years. haidi: officials maintaining the outlook for three cuts this year suggesting that the reason of tech inflation -- is an uptick in inflation. annabelle: reddit is at $34 a piece, it sold more than 15,000 shares in the offering. breaking news at the top of the hour, the hkma keeping its base rate at 5.75%. no big surprises given the hkma is not an independent authority, it follows that that in its policy changes but certainly the organization has been under pressure given this is an environment that has been part of the baha'i fed rate environment and the weakness in the chinese economy, something not easy for hong kong to be in, really. haidi: not at all, we monitor the singling out of the fat and in a lot of ways perhaps the fed meeting, the guidance, the tweaks to

haidi: watching the yen very keenly today.we're watching when trade opens in the next few minutes, nissan targeting one million vehicle sales within three years, seeking to regain market momentum. asian crypto related stocks could move as well. global investors symposium is about to kick off in hong kong. we will be there live. ♪ ♪ annabelle: this is "daybreak: asia." we are counting down to asia's major market opens. we have equity moves and then also what is happening in the fx space, watching the levels of the japanese yen closely given a have the likes of bank of america saying 152, 150 five could be available to watch for intervention. haidi: we had some pretty stern verbal warnings in the previous session and that seems to be continuing today as well. suzuki talking about the undesirability of really strong fx moves in either direction. of course, this will feed through into potentially what we see longer-term for japan equities given a helping hand to have seen from the weaker currency. annabelle: that's right, we have

haidi: welcome to daybreak australia. markets have just come online. annabelle: i'm annabelle droulers in hong kong. we are coming down to asia's major trading opens. tech giants leading a stock rebound on wall street. ai in the spotlight with apple in talks to build googles gemini engine into the iphone and nvidia unveiling its new processes. haidi: the rba is in focus with investors watching tuesday's decision for any sign of a softening in hawkish bias. >> i'm stephen engle outside the bank of japan headquarters in tokyo. it is a momentous day with reports the central bank is poised to end the yield curve control and etf buying as hiking its key rate for the first time in 17 years. haidi: it is a busy day when it comes to the central bank docket. the bank of japan with steve in tokyo. also watching the rba decision. this is the picture as we start out the staggered start to trading. we are seeing the asx 200 a 10th of 1%. we did co strike a stocks. gaining higher financials and banks led the part of the gain. modest gains. a 10th of 1%. a lot of cau

haidi: bruce einhorn there.t "big take" is on the terminal at constant contact delivers all the tools you need to help your business grow. if billy can do it so can you. get started today at constantcontact.com. helping the small stand tall. annabelle: taking a look at how markets are faring this morning, a slight turn of risk aversion, with the clear exception to the narrative really being korea. more than 1% of the upside. but broadly, traders are a bit cautious. we saw a pullback in u.s. equities overnight given that investors really on the countdown to the fed's preferred inflation gauge, and any signaling or expectations around the narrative for fed rate cuts over the course of 2024. that is also playing into dynamics around the currency space. if we change our now -- -- despite that boj cut last week, -- the hike, that trend has been weaker for the local currency. and you are seeing the japanese yen holding steady but above 150 one. more joe barton coming from japanese government officials, -- more job own

haidi: president xi urges u.s. business chiefs to invest in china saying his team can handle any problems facing the economy. annabelle: plus, south korea and india failed to make the cut for klee -- key global block indexes. stocks on the sidelines of the six more months. let's kick off this morning with how we are seeing u.s. futures coming online, fairly flat so far in the early moments. but it was yet another record high in the session. we saw u.s. stocks rising at what has really driven moves over the past few months. because of course we're at the end of the first quarter it has been an expectation of rate cuts we are going to see three perhaps over the course of the year. that was certainly the trading dynamic. we saw big tech leading gains. the lapse of apple gaining. nvidia still under pressure. what could be pouring some cold water perhaps on the narrative is what we have heard from the fed governor christopher waller in the last few minutes, saying the fed should delay or perhaps even reduce the number o

haidi: u.s.tion numbers are one of the big numbers we're looking ahead to this week, but how do you think that number is going to stack up against the jobs report we had on friday in terms of the outlook for the fed? >> january was a big inflation month across cpi, ppi, pce, all of those measures that reignited concerns about the last mile on inflation, and my sense is the employment report on friday, the payroll report helped ease some of those concerns. my take is to it is a pretty good report from the perspective of the fed with the economy taking a long but underlying wage growth easing somewhat and i think this week's report will confirm the story that while there will be bumps on the road on inflation that we should not be concerned about aggressive pickup and inflation, the underlying inflation dynamics are going in the right direction. annabelle: it has been interesting to track with all of the global central banks, but that sort of race between the fed, ecb who will be cutting first. mar

haidi: jodi schneider.y with us with our special coverage of super tuesday with joe mathieu and kailey leinz at 10 a.m. in hong kong, one in sydney. other developments, the u.k. chancellor jeremy hunt told bbc his budget will temper hopes for tax cuts. hunt is set to cut by one percentage point in a bid to give his party a boost. hunt and the prime minister are weighing how far they can go with the tax cuts. israel is selling $8 billion of bonds, the biggest sale on record and first transaction since the war with hamas began. the government launched an offering and the sale reeled in 34 billion dollars of investor demand. get a roundup of stories to get your day going. you can find it on dayb on your terminals and the bloomberg anywhere app. customize settings so you just get the news that you care about. this is bloomberg. ♪ wealth-changing question -- are you keeping as much of your investment gains as possible? high taxes can erode returns quickly, so you need a tax-optimized portfolio. at creative

haidi: full steam ahead and japan equity rally.r the same narrative is korea. a down day in tradi

haidi: economists expecting a slight uptick. annabelle: we are live to baltimore for the latest on the bridge disaster that has halted shipping at a major u.s. port. want to start our show with at this morning. the baltimore bridge collapse, we start by acknowledging what could be a human loss of life. we know the search is ongoing for six construction workers that were on the bridge at the time of the incident. we do have a reporter on the ground and we will get to her in just a moment. the possible commercial implications given this is connected to one of the busiest ports on the u.s. east coast. let's get more with our abc news reporter there in baltimore. give us a sense of what is happening on the ground and the latest there. >> people are just holding their breath right, this has been going on for 17 plus hours, search-and-rescue crews are still at it, still trying to find those missing people. eight people total fell into the water when that ship collided with the bridge and of course the bridge collapsed. the family memb

haidi: u.s.emocratic senators are calling on president biden to press israel for a cease-fire in gaza as must pop and israel are to hold talks in cairo that could lead to a temporary halt in fighting. president biden said last week that monday commitment -- commencement he was hopeful about might not happen and we heard from vice president harris as well. >> she reiterated the call for the cease-fire. you mentioned must pop --hamas is heading to cairo. on saturday the u.s. that it understands israel is prepared to go ahead with the cease-fire as long as it can get details on the hostages, their status. its goal is to get a commitment from hamas that it will release hostages that are unwell, injured, or old. at this stage they have not heard back from hamas. that is the tricky side of it. it is one thing for the u.s. to pressure israel, which it has started to do outright, but it needs hamas' agreement to get this happening as well. i think that u.s. frustration is seen in this airdrop that took p

haidi: we also had the move out of taiwan central bank. this suggests that if you are in an environment where the fed stays dovish for longer as we get through the year could be get more surprises as other central banks try to keep up and adjust positioning? >> i think there will always be idiosyncrasies and central banks being moved more by a national story than by a global one. and you mentioned taiwan, i think the story in taiwan is about electricity prices and the impact it will have on inflation. other global central banks also have particular challenges they are facing. think about turkey, argentina with runaway inflation. they are certainly not going to follow the fed. the big direction and policy this year is inflation coming back towards target, the fed, ecb, bank of england moving toward the midyear pivot, rate cuts probably for all of them in june, and smaller central banks whose currencies are moved so much by the relationship between their interest rates and u.s. interest rates navigating that shift. haidi: when you look at so

haidi: welcome to daybreak australia, markets have just come online. annabelle: i'm in hong kong, county down to asia's major market open. little momentum as u.s. inflation and retail sales reads are coming, strong demand for a 30 year auction. haidi: many japanese workers are set for the biggest wage gains in decades, a positive sign for the bank of japan before he meets to decide on ending negative rate. annabelle: a bill to force a sale of tiktok in the u.s. has the senate setting up a fresh flashpoint between washington and beijing. haidi: let us get you straight to the start of trading in sydney, alphabetically we are seeing already a bit of upside when it comes to trading. we do have a modest gain to close in the session, largely being supported by banks and consumer discretionary stocks. we are watching wind stocks again with framing of expectations of those punitive 220% tariffs after three years of being in place. those are the biggest aspects to this market, gaining yesterday. look at the aussie dollar, holding firm at the 66.23 level. this i

♪ haidi: welcome to daybreak australia. i'm haidi stroud-watts in sydney.aul: we are counting down to major trading opens this hour with u.s. stocks at all-time highs in the run-up to friday's drop support with jay powell saying the fed is not far from the confidence needed to cut rates. >> dovish signals too from the ecb with christine lagarde suggesting lowering borrowing costs us soon as june. paul: president biden to deliver his state if the union election pitch making the case for his second term and a likely rematch with donald trump yet haidi: a right decision crossing the bloomberg now with perot central bank leaving the reference rate on hold at 6.25%. the forecast from bloomberg economics was a cut. nearly all analysts in the survey saw the key rate falling to 6%. we saw inflation speeding to 3.29% in february still above target. that expectation still that they would cut to the lowest level, more than 1.5 years, that has not been carried through from the peru central bank. they left rates on hold at 6.25%. it is looking to the significance of the

haidi: our asia equities reporter.it for "daybreak: asia," but market coverage continues with the start of trading. this is bloomberg. ♪ thanks to avalara, we can calculate sales tax automatically. avalarahhhhhh what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh her uncle's unhappy. i'm sensing an underlying issue.hhh it's t-mobile. it started when we tried to get him under a new plan. but they they unexpectedly unraveled their “price lock” guarantee. which has made him, a bit... unruly. you called yourself the “un-carrier”. you sing about “price lock” on those commercials. “the price lock, the price lock...” so, if you could change the price, change the name! it's not a lock, i know a lock. so how can we undo the damage? we could all unsubscribe and switch to xfinity. their connection is unreal. and we could all un-experience this whole session. okay, tha

haidi: yeah.s usual, we are back to focusing on these data points and how they feed through to central banks across the region. belle, to that point, take a look at how we are going into the start of trading here in sydney. looks like a pretty mixed picture. some gains expected across the region. stocks coming online in a muted fashion. we saw pretty much sideways trading in the previous session, declines from the big iron ore players. trying to see if there is much of a recovery in this session as we did see iron ore kind of studying after planting on weak chinese demand. one of the sectors we are watching is treasury wine, on account of china's proposal to end the 220% tariffs on australian wine companies, proposing to lift those punitive tariffs on the sector. we will be watching for a reaction out of that. the aussie dollar is steady, we saw it firming after core u.s. cpi exceeding forecasts, harder than expected, putting into question the path where the fed goes from here. so the bloomberg do

haidi: we saw the u.s. taken by surprise in terms of the progress huawei had made which is a company that as recently as 2020 was struggling for survival should is this as much of a big deal as we would think it is or is there a big difference in being able to make one of these chips to being able to produce at scale? >> scale is definitely an issue and huawei is going to be struggling. although huawei has rebounded, it was not quite as dead as some claimed it was, it is still pretty far behind compared to nvidia and amd. it is going to take a few years for them to catch up. what is important here is huawei is not necessarily a threat or the threat people may claim it is. it is going to be hard for them to catch up. export controls are having a huge impact on chinese access to these new ai chips. especially the high end stuff. annabelle: we did see evidence of huawei's stockpiling u.s. stock technology. that does give it some bandwidth as well. >> i think the main goal of the u.s. government's policy agains

haidi: u.s.enators are resisting calls to fast-track a passage of the bill which -- the bill passed by the house this week demands that bytedance divest within six months or shut down tiktok. democratic senater richard blumenthal says the deadline is to show and republican temp truce -- ted cruz wants a review that could tie up for months. but the senate chair said he supports expediting the bill. >> they are collecting in enormous amount of personal data about americans. the genius of tiktok, it knows what you like even before you may know. and that kind of personal data of the 170 million americans who are on 90 minutes a day, if you don't think that is a security risk, potentially you could be blackmailed by agents of the chinese government, then i think you don't understand the unfortunate real world that we live in. haidi: meanwhile, the top diplomat for china has hit out against beijing's objections to a possible tiktok been. annabelle: the ambassador spoke exclusively with stephen engle. >

haidi: we will leave it there.inance reporter talking about this incredible surge we are seeing across bitcoin. but more muted across other asset classes ahead of the key inflation numbers. it is keeping a lot of confidence on the sidelines. s&p futures up by .25%. taiwan futures looking flat at this stage. watching ftse china. the disappointment from the npc and concerns over the iron ore sector as a correlation what we are seeing with property in china as well as some of the broad-based geopolitical overlay potentially bringing more headwinds to chinese equities. this is bloomberg. ♪ yvonne: you are watching the china show, i'm yvonne man. pressure mounts on state

haidi: let's take a quick look at how markets are faring. minutes into trade for korea and japan this morning. the outlook, we are getting a little bit under pressure so far. we did see u.s. stocks slipping overnight. we saw a big with more lifeguards, session, and if you look at the imap function, tech is in the retreat so far in asia. that is the state of play there. let's switch because the commodity story is playing into the moves, particularly in australia. we are keeping and i'll what is happening in oil markets, given we did see -- we are keeping an eye on what is happening in oil markets, and there was that refinery attack, and we are seeing a retreat in u.s. stockpiles. we did see it hitting a seven month high on copper yesterday in the session. today it is a little bit firmer, but there is the question on whether chinese notaries are going to be pushing through capacity cuts. that is what really drove up the price of that the commodity. tech is in focus so far in asia today, given the weakness in the sub index. but apple's iphone m

haidi: if we see a retreat of u.s.port for ukraine, do you think that emboldens beijing on how it deals with taiwan? >> i think what we are seeing today is an elevation of the ukraine more in the fact that ukraine is not going to get eastern ukraine back. russia is going to get away with it. what would be the consequences, yes, it will be a lot of financial trade costs, but is china going to get away with it in the end? it is taking lesson from the ukraine playbook, yes, it will. haidi: were not expecting any personnel announcements this week. do you think he will stay in place and when to expect a little more transparency on what the foreign ministry might look like on a permanent basis. >> there is so many rumors and speculation right now. we will find out when they are ready to tell us. he will be 75 by the time the current term of the chinese government completes, which means he will have to retire. it also means the chinese government has to start cultivating his successor. there is the director of the foreign aff

i am haidi stroud-watts and sydney were marketed just come online. annabelle: we are counting down to is your major trading opens in the top stories this era. it investors bracing for a week dominated by big central-bank decisions including a fed to call ted to reveal whether policymakers remain on track for three rate cuts this year. haidi: japanese preparing for the boj rate cut, the first since 2007 with inflation holding your the central-bank target. annabelle: australia's reserve bank why they expected to hold rates at a 12 year high while maintaining a hawkish buy against price pressures. haidi: it is all about central banks policy, almost half of the global economy including six out of the 10 the most traded currencies. it japanese media reporting that the boj is had to raise its policy rate when it's meeting ends on tuesday by guiding short-term interest rates to a range of 0% to 0.1 percent, so that will be left out, boo-boo big economic squeeze the boj may wait until july to end negative rates and its yield curve control program. to learn m

haidi: too close to call. some of this data could take a while to be brought together but we are looking for a number around 3.8% or 4% in terms of the wage gains. i don't want to say it but if that disappoints we could see a pretty massive reaction in these markets. annabelle: absolutely. we have just seen so much agitation for the boj to shift its policy settings as sunak next week --as soon as next week. we have seen the yen strength coming through. it has been higher for four straight weeks against the greenback. today fairly steady, but still trading around the 147 mark. really something that has been weighing on equities over the course of this week. we saw it heating japan stocks broadly but tech feeling the brunt of it. today we are actually moving a little high. it is a reflection of the other theme we are tracking today. the u.s. inflation print a little hotter than expected but not too hot to really shock markets. we saw stocks on wall street climbing to fresh records. so that is positivity coming i

haidi: take a look at how we are seeing australian assets trading. we see the retreat for aussie stocks. not much conviction and either direction. thanks and consumer discretionary -- banks and consumer discretionary showing weakness. the benchmark in australia is on track for a 1.2% gain for the week. the moves we saw in the dollar, the aussie dollar is holding steady. we saw a big jump after the robust labor market data that came through yesterday. watching crude. a push and pull behind -- between demand on the dollar. the two day drop alleviated today. geopolitical tensions in the middle east is a main theme at play for oil. we are also watching the bond space. australian debt holding steady. a little move in the 10 year yield but largely unchanged. treasuries -- we continue to see these expectations being set perhaps the fed will stay in its dovish positioning for longer than expected. annabelle: from the fed and back to the boj. the focus on the inflation numbers that came out in the fastest gains we have seen in the last few months. our next gu

haidi. haidi: take a look at how we are traveling when it comes to the direction of trade here in australia. we are seeing a little bit of upside, .25% we are still seeing levels pretty close to record highs at this point so kind of incremental gains being seen the asx 200 today and the aussie dollar starting to gain a little bit more momentum. we saw the lows for the session when it comes to the greenback after what has been a few weeks of more or less range bound trading but still, we see some views when it comes to potential downside risk for the aussie. disappointment from the chinese economy is at the top of that list but in this session, we are seeing the aussie being supported by some of the high metals prices and crude prices as well as some of the stocks we are watching in australia trading today including rio tinto and bhp is want to watch as well. also watching crude markets, seeing a little bit of softness when it comes to new york crude just under $80 a barrel there. we have see

haidi: paul allen with the latest.nt biden says he remains hopeful about a cease-fire in gaza but it is unlikely to begin by monday. he is warning a deadly confrontation around in a convoy in gaza will complicate negotiations. these two are connected stories we are looking at because he had been hopeful but by early next week a cease-fire would take effect. >> that looked optimistic because of the mood music on other fronts but he did speak with the egyptian and qatari leaders yesterday, and there is a push to get going. the problem is, there were scores of palestinians killed or injured in the violence that occurred in northern gaza where some aid trucks came in from israel. they were swarmed by people desperate for food. there are conflicting reports on what occurred. some say there were aggressive moves towards israeli soldiers, who fired in response. others say the trucks were trying to escape. people were crushed. a lot of people are dead or hurt, and that makes it more difficult to square the circle. hamas says t

haidi:.isaster is set to disrupt logistics and supply chain for weeks as well as pose particular problems with the consular shipment of coal, cars, and construction materials. let's get more with the rahul kapoor who joins us from singapore, from s&p global. give us your initial assessment, because i understand in the overall percentage of goods that pass through this channel, it's not a huge percentage but, for specific industries, it is actually quite dominant. rahul: good morning, and thanks for having me. this is, in our view, a freak accident. it's a very unfortunate incident. if you look at the impact, the key here is a u.s. automotive supply chain, it is the number one port for the automotive supply chain. there is also containerized agriculture exports, as well as coal exports. the port of baltimore is the second port for u.s. coal exports. it will impact that freight. what we see it more as a local rather than a global impact at this onset. haidi: a lot of the impact will depend on h

haidi? haidi: we're taking a look at u.s. futures after pretty convincing gains. of causing now. a lot of investors on the sidelines until we get the updated data from the feds. and the feds path forward. we are seeing ty futures optimistically up 1%. we are seeing the numbers from here in australia saying that they hope they will have a fair environment when it comes to firms. he'll be meeting with members of the business community going forward. this is bloomberg [sfx: wind, rain and rolling thunder] nobody's born with grit. british announcer: rose is really struggling. it's something you build over time. american announcer: that's 21 missed cuts in a row. [car trunk slammed shut] for 88 years, morgan stanley has offered clients determination to create the future... crowd: stop it! ...only you can see. american announcer: rose, back in the winner's circle. [crowd cheers] [music out] her uncle's unhappy. i'm sensing an underlying issue. it's t-mobile. it started when we got him under a new plan. but then they unexpectedly unraveled their "price lock" guarantee. w

stephen: thanks a lot, haidi.are pleased to have the chairman and president of the aiib, jin liqun. thank you so much for joining us. a lot of discussion has been talked about here at the boao forum with the pace of growth and about new quality development in china. how does that impact china as the biggest benefactor to the aiib, the founding member? how does that impact your lending plans? jin: the theme of the boao conference 2024 is a common challenge and shared responsibility. i can hear the day before yesterday and attended a couple meetings. you will find people focused on cooperation in dealing with the common challenge, particularly climate change. how do we deal with this threat to human society? infrastructure investment bank is a multilateral development bank initiated by china. the support of 57 members. now we have 109. yes, china is a big shareholder. china's role is to contribute to the building up of institution created the 21st century. this institution must operate by international best practice

haidi: coming up, jpmorgan chase securities. but first, more on evergrande accused of falsely inflating revenue in the years leading up to their failure. details next. this is bloomberg. ♪ >> this is hopper. hopper changed the world. this is blackrock -- this is blackwell. annabelle: the nvidia ceo showing off the firm's new ships. -- chips. the blackwell is the successor to the hopper. let's bring in our analyst who believes the new ships will dry -- chips will draw more business. there is so much competition in the space. you have the h 100 but also the likes of amd, alphabet, amazon, intel. how much further is this one ahead of the pack? >> significantly widens an already wide performance gap nvidia has versus their peers. they are trying to divert [indiscernible] and this time the company comes up with one that is two and a half times better. higher memory. it results in significant performance a lead versus what is available today in the market. haidi: how does the technology help transition more simple ai tasks into what w

haidi: in what ways does this matter? there are negative implications for hong kong. >> the economist estimate that shenzhen is spending up to $84 billion in retail services. that is 15% of money they did not spend in hong kong. restaurants and bars don't like this. there are local politicians and economists suggesting it is posing a departure's tax on hong kong residents leaving the city to protect the local economy. this has also been an urgent call to local leaders to figure out how to but our track towards him. hong kong tours and to shenzhen and the rest of china hit record highs. the reverse has not been true. we are seeing travel numbers from mainland china to hong kong is still below the 2019 level before the covid isolation. annabelle: our china economic government editor joining us. you can get an inside -- in our hong kong newsletter every thursday. sign-up via bloomberg.com/newsletters. plenty more to come on daybreak asia. this is bloomberg. ♪ annabelle: the resilience of asian demand for luxury demands will

haidi: we have breaking news to kick off the hour. south korea gdp numbers coming through on the bloomberg. we are seeing when it comes to the revised fourth quarter number, the preliminary number when it comes to seasonally adjusted quarter on quarter coming in line with expectations. 6/10 of 1% higher. the year on year number in line with expectations. the annual gdp for 2023 at 1.4 percent. all of those readings are in line with expectations. we did see the preliminary numbers showing the same when it comes to the readings. we have seen relative resilience when it comes to things like exports driven by chipmakers in south korea. we did see an unexpected drop in industrial output earlier on this year suggesting we have seen some let up when it comes to the key driver of semi conductors. looking to see how all of this feeds through to what we expect from the bank of korea. let's take a look at how this going to feed through and it comes to trading in asia. we are getting australia just trickling online. a mixed picture on wall street

haidi: how effective are tariff barriers? nikhil: if you look at the u.s.t, the tax credits provided to onshore battery manufacturers is nearly 30% of the esb of the battery. together with that, there are over 10% import tariffs in importing batteries from china. combining the two, we think the onshore battery makers is more superior even after accounting for the faster decline in the battery prices in the china market. when you look at the european market there is very limited import tariffs. there is very limited onshore battery making incentives. so the price of the chinese that are is are more competitive compared to the batteries manufactured locally in that region. annabelle: that was nikhil bhandari, head of apac natural resources and clean energy research at goldman sachs. just a couple data points to note, we just had producer price inflation numbers dropping for japan. over the month of february we saw a pickup for the reading year on year 6%, higher than the estimate for .5%. and a pickup from the reading prior. month on month also be economist f

haidi: it is the night of nights.challenging time for show business, for hollywood of course with the writer and actors strikes but we are back in a sort of celebratory mood and, celebrating. the boy and the heron got the award for the best animated film. divine joy randolph winning best supporting actress for "the holdovers," which is one of the few i've begun to watch. i can't even say i've finished it. it comes to this point in time when i'm trying to make my way through. it is worth going through the other top contenders. christopher nolan is the top pick for best director. we are seeing very strong bets for robert downey jr. and cillian murphy, for oppenheimer. annabelle: oppenheimer will probably be taking the big call here. you take us back to where we were a few months ago. we had oppenheimer and barbie being released on the same day. then it was the big question coming into the awards season, who would come out in front? oppenheimer, given the big nominations. barbie, even though it was the biggest box office

haidi: let's get you straight to the markets. a pretty reasonable set up in asia and we have a bit of downside as we get into the first part of the staggered trading session here in sydney, about .2% author straight into the middle of trade. we are expecting a rise across the region. interest rates will likely fall this year. there's been so much managing of excitation 10 -- excitations in terms of the timing and the extent of easing we can expect from the fed and we have seen some of that drastic repositioning within certain parts of the market as well. so we are watching the dollar that fell to a mom -- a one-month low after the soft u.s. jobs data and that congressional testimony from jay powell seeing some weakness in the greenback which has been trading in a pretty range runway for the past two weeks. the aussie dollar, 65 .62, not too much of a beneficiary of that without a vallow weakness. previously in the session, we have seen the aussie seymour leadership with a gain of as much as 1% along with higher metals prices and

haidi: you were watching "bloomberg daybreak: asia."imir putin has secured another six years as russia's president winning more than 87% of reported with half of the votes counted. the 71-year-old will extend his new quarter century of rule into a fifth term of the strips something offensive in ukraine. three other candidates offered no serious competition in the tightly controlled election. india has announced their general elections will be held over six weeks from april 19. the election commission said the polls will be completed on june 1 with vote counting on june 4. prime minister modi is bidding for a third term in office boosted by a strong economy and it weakened oppositional line struggling to put across a cohesive message. i minister netanyahu says israel's military will begin operations in the southern gaza city of rafah within weeks. the u.s. described an assault on the city sheltering 1.5 million palestinian civilians is a redline. netanyahu push back on calls were early election saying about paralyzed the country for six

haidi: this is daybreak: asia. we are counting down to asia's major market opens. 4:15 p.m. in tokyo is when we get the results of the union group negotiations around japanese salaries and what that means finally for the boj meeting next week. haidi: individually we all care about pay increases but i wonder, has there ever been so scrutiny over a collective set of data on wage increases? but yes, that will have deep ramifications for signaling what we expect out of the bank of japan. the other side of the equation is the fed. arguably that has potentially more impact. annabelle: that's right. perhaps the bigger driver could be what jay powell will be doing next week, what signaling we get from that press conference pretty but this is what we are seeing for japanese markets as they come

haidi: we think there -- marc: we think it is quite an interesting rotation play. we saw a flavor of that over the last few weeks. some of the more cyclical sectors, whether it is energy and industrials, they are starting to catch a beta and for good reason. it has been pronounced leadership by the technology sector and that is being driven by fundamentals. share buybacks have started to pick up again but we liked the idea of rotation under the hood even if it doesn't mean that at the next level, you see large gains from here on in. our focus is looking on parts of the market that have lagged to somewhat but have fundamental support that is improving. haslinda: what are you staying away from question marc if you take a look at the markets, there is a lot of herd mentality. everyone is putting into assets the same assets for a very long time. marc: what we want to do is be wary of mispricing's in the market. haslinda: and where you have seen that. marc: the session becomes the tail end of growth stocks in the u.s. which have been brought up by this rising tide, whet