i am haidi lun.s continue our global tour of the week's top business stories with a message from president trump that made an impact on oil markets. >> oil prices slipping after president trump said that saudi arabia's king had agreed to increase oil production. both he and the prince backpedaling on those comments. it added to the pressure yesterday during an interview on fox. president trump: opec allowed less than we thought last week. they have to put out another 2 million barrels, in my opinion, because we don't want that happening. >> what does the president want? does he want the saudis to break from opec? >> i think the president wants lower gasoline prices heading into the summer. how that comes about, i don't think is particularly his concern. does he wants to see the end of opec? i think quite clearly, he has done for many many years. i think he needs to be really careful what he wishes for, because without the spare capacity that countries like saudi arabia and one or two others in opec h

haidi: and i'm haidi lun in sydney. let's get a look at the headlines.ipo off to a bad start even before shares listed on hong kong on monday which have been at an almost 10% discount. , cutting the bottom the valuation to about half of its initial goal. scrapping plans for shares on the mainland after setting aside chinese regulators. haidi: in charge -- kathleen: in charge of the companies upon, he will replace the head. the management shakeup is part of the price. the sock is lost half of its value in hong kong since resuming trading last month. the iconic plaza hotel may have been bought by qatar. it set to acquire 100% of the property in a deal worth $600 million. other suitor say that they have a legal block on the deal and it is impossible for the transaction to have gone through. they have been trying to offload the central park property for years. kathleen: china has seen investors are treating, but it is managing patches for some of australia's smartest people set to buy. we will take a look at their strategy coming up next. we will also be che

i'm haidi lun. >> just past 6:00 p.m. here in new york. i am remy inocencio.heill be looking at how action here in the u.s. and around the states will beep playing into the asia-pacific trading day. here, the markets are closed because of the july 4 holiday. it is america's 242nd birthday. people are eating hotdogs. but things are moving in terms of currencies and commodities. we will get to those very quickly. as you can see, close here. there is some movement in futures trading. let's flip up the board and show you what's happening. the dow futures right now, looking up by about a 10th of a percent. s futures up by a third. nasdaq futures, interestingly headed south. the bloomberg dollars but is just about flat. mind you, this is in very load volume trading because most everyone is on holiday. well-deserved holiday, you could say, after the andtility in recent days weeks. with no trading in the u.s. because of the independence day holiday, a strong lead into the asian session. early session in new zealand just getting underway. a little bit of a mixed pictur

i am haidi lun.y: i am ramy inocencio in new and where it is 6:30 p.m., you are watching "daybreak australia." the opec president told bloomberg that the cartel is doing what it can to offset a shortage of supply in response to criticism from president trump. he says producers are trying to balance the market without breaking supply to the excessive level. it called on opec to cut prices urgently. chinese premier called for free trade as he met with counselor merkel in berlin. both countries are experiencing tensions with the u.s. the pair are seen as prominent supporters of globalization. they go on to meet a big european leaders at the annual business summit in brussels. rescue teams in southwestern japan have found more bodies after record rain. at least 100 are known to have died. 80 more unaccounted for, and thousands have sought shelter. rain warnings. shinzo abe canceled a trip to europe to oversee the cleanup. musk is said to be in shanghai for talks opening production plan. sources say he is

. >> in sydney, i am haidi lun.lumps,ing up, samsung second quarter profit and sales missing on weak demand. fed indicates growing confidence , policymakers will maintain the gradual pace of rate hikes. this is "bloomberg markets: asia." ♪ david: here we go. markets opening across several markets. let me give you a quick look at equity markets. japan and south korea, there we go. trade tariffs kicking in essentially. samsung out with earnings. in theing said, a lot macro space to consider. haidi: by and large, a positive considered, things as we count down to trade tariffs. southeast asia, malaysia seeing singapore, downside, a trait-exposed, vulnerable economy beijing and washington will be watching closely. david: of course. these surprise imposition of property curbs in singapore. has confirmedp the u.s. will impose tariffs on chinese imports, midnight washington time. the duties will be imposed on $34 billion worth of products, an extraresident said $16 billion in tariffs will come in two weeks. >> they have bee

haidi: i am haidi lun in sydney.'s official factory gauge fell more than expected as the two biggest economies head towards a potential trade war. joining us is a senior economist. great to have you and happy monday. it has been an eventful six months. we have seen potential decline in export orders. investors and factories, companies having frontloaded that number, now starting to back away. you see that because of trade uncertainty? >> i think chinese data has been taking a bit of a softer hit over the past few months. chineseit is a sign economy has been slowing over the past year. the people's bank of china policymakers are trying to take an active role in the market by easing the monetary conditions and liquidity for companies which we are seeing with a cut to the triple art, and that is likely over the next two months. haidi: every market and fx market in china has really been roiled. what is your expectation for when they step in? 6.7 seems to be the level for the yuan. diana: if you look at the changes in the

. ♪ haidi: i am haidi lun in sydney. ramy: i am ramy inocencio. watching daybreak australia. u.s. secretary 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,

haidi: i'm haidi lun. tencent plans to spin off its music arm in the latest sign the recording industry is enjoying a come back. a comeback.ck -- engle.n: i'm stephen this is bloomberg markets: asia. ♪ david: nice to have you, haidi. welcome to the show, lots to talk about, not a slow start. brexit in full focus. 132.87 right now. you're seeing green because the cutoff is low. we've come up following the also news, david davis reporting that sarah braverman has stepped down. as well.ck that story, haidi: what is the contingency plan? sterling doesn't seem to know. taking a look at trading around shruggingty positive, off the start of the trade war friday. singapore down .25%. you have futures in the u.s. looking like another positive session after you have tech driving those gains friday. let's take a look at trading week in asia. with thekick it off budget round, 1810. that could disappoint as retail and institutional investors aren't showing much interest. ping on health care, a year that hasn't been hot

haidi: in sydney, i'm haidi lun. mexico looks like it is turning left. or looks like he is on the verge of a landslide victory. this is "bloomberg markets: asia." ♪ haidi: looking like a land slide when it comes to the outcome of this mexican presidential election. this is only the first time mexico gets a left-leaning president in four decades. he is someone who has promised to fight corruption and stand up to president trump. some of these pessimistic forecasts, 27% in the peso by december 1, which is when the inauguration would be. david: he is certainly unclear on what his stance is as far as the banking sector is concerned. what i'm watching as well, we had problems early on, does the pboc come in and intervene? he is putting an estimate here. when you look at the basket, he is at a 94, that is the level they may have to come out and suited out. -- soothe out. let's have a look at other markets trading in the region. we have jakarta coming online. not very exciting and inspiring. haidi: not inspiring as we kick off the second half. we do have the rup

i am haidi lun. face 20 years of imprisonment, this is bloomberg markets, asia. our top stories. you can imagine a little bit of negativity as we have the former prime minister officially charged. we have three counts of criminal breach of trust. years in press and is the maximum penalty, potential to a weapon. this could be a separate charge of the anticorruption act. we are continuing to watch that. that is they moved to the hard court. we are waiting for not seem to enter his plea. david: we have to wait for what they do with the economy there. details, this the pertains to what you mentioned. this could be a general indicator of where this goes from here. we will have a sense of general markets right now. sylvia is here with us with the opening. -- sophie is here with the opening. sophie: we are seeing wider support for emerging foreign market thanks to the uptick in the yuan. they are trading at 663 against the dollar. markete attempted to, nervous. the offshore yuan is leading that dollar lower. we are seeing stocks in japan off the back of it. this is 6/10

haidi: i am haidi lun.u say, lots of risk this week, monetary policy with the wrath of -- with a lot of central bank decisions. u.s. ig tech names in the china would like to see some yuan stability. the biggest market strategy -- the biggest risk to look out for. incomeia's head of fixed joining us. chart start off with a that will change the issue of whether currency, volatility and the contagion question is going to be a key thematic into the trading week. this is the gtv library. market sentiment expressed in this cap between offshore and onshore, offshore was trading weaker for 32 days. you can see the pessimism building. has it surprised you we have not seen overt intervention or job earnings from the pboc? >> it seems they have been comfortable with depreciation. it has been a controlled but .airly meaningful move at this point after more than 5% decline the past several weeks, it may be the pboc will shift to some other methods to lessen financial conditions. haidi: is the possibility of a currency w

. ♪ aidi: i'm haidi lun in sydney.airlines will restructure operations to make itself more agile. tony douglas gave bloomberg his first tv interview and discussed trade wars, open skies and how to become an airline of choice. >> first of all, six months ago, an opportunity to come back to my second home, an absolute privilege to be involved in incredible grant in a wonderful industry with a remarkable mandate. so it's been six months that's almost flown by like it was six minutes. it's been a whirlwind of excitement. it is a transformation program. and of course all transformations assume clarity where one is trying to get. to and the wisdom of the leader hipp here always gives that clarity and for us it's about having sustainable airline that can deliver outstanding service delivery. i think we've already got the second part of that mandate, but we can all see we've got a lot of work still to do on the commercial sustainability. this transformation program is about making sure that we've got pace, we've got urgency, a

haidi: i'm haidi lun. tencent plans to spin off its music arm in the

i am haidi lun in sydney. david: i am david ingles.heresa may looks likely to survive any attempt to topple her. her exit strategy at least for now, -- hard-line lawmakers are said to have discussed calling a vote of confidence. they currently do not have enough support. let's bring in jodie snyder to talk more about this and to answer the question, what happens now? it does look like theresa may will survive this round. it does not look like there is enough. they need 48 votes to signal the vote of confidence. it is likelyppear to be near that number, so for now, it looks like she will survive this area she reached out to members of her own party as well as the largest opposition party, to get support for her strategy of staying close to the e.u. even after the exit. this of course was a point of contention with the ministers who left. they wanted to see what they view as a clean break rather break but stay close. they wanted it to be a clean break but then figure it out after that. she will survive, but the question is, you know, how

haidi lun here in sydney. ramy: it is 7:30 p.m. in new york. markets closed up 0.2%.st seen since february. we did get a jump, thanks to earnings coming out of the financials. more on that and a bit. i am remy innocence you in new york. ramy innocencio in new york. >> google says it will appeal a record $5 billion antitrust fine imposed by the european union for the way it puts search and web browser apps onto android mobile devices. it has been told to change the way it operates, what brussels called illegal practices, that pushes services in front of users. >> google has used android as a vehicle to cement its dominance as a search engine. these practices have denied rivals to -- a chance to innovate and compete on their merits. it has denied european consumers the benefits of effective competition. >> jay powell is again speaking out against trade barriers. he says an ultimate outcome of lowered tariffs would be good for the economy. powell said he opposed protectionism and would not want to see trade uncertainty offset momentum, but he remained upbeat about the u.

haidi: thank you for that, bruce. us, francis lun. would you be staying away?: i will be staying away. utility of a utility joint venture. the concern is we need the yield. thisding to the figures, is actually under 1% unless the dividend increases sharply during the next two years. it will not be an attractive investment. the mainland banks are giving you 5-6%. how in the world will you buy a utility with only a 1% yield? haidi: have you been enthusiastic or bought into any of the arguments so far this year russian mark a lot of them have been very hyped. ultimately we have been disappointed. these smaller ipos actually give you a good return on the first day of trading. you only trade for the short term. rishaad: why didn't you go into the tower? let's say you are there for a date, you will not get into this. you're contradicting yourself. francis: you invest on what the market can give to you. if the market is fluctuating getly, this year you can't any money from trading in tencent. then you switch to smaller ipos. rishaad: are you looking for to any other i