on the hong kong people or hong kong elite.i. so whether the president of china will elect carrie lam, at this stage, no one knows. what we can do is just clearly request and uphold what we believe m, request and uphold what we believe in, which means democracy, and continuing to fight in the future. but just to be continuing to fight in the future. butjust to be clear, you would regard the winner of that selection process , regard the winner of that selection process, and that hypothetically say it is likely to be carrie lam, you regard her sitting there with no mandate, no legitimacy whatsoever. it is lack of legitimacy from people, because we can't vote in an election. so how come we can say that the executive, which means the leader of hong kong, is representing hong kong citizens? so will you try to get people out on the street ain? to get people out on the street again? because the issue here is what sort of amount you have, and indeed what sort of achievement is the pro—democracy movement can ever hope to garner —— what

lu xuanlin lives in hong kong and works in shenzhen.u opened a members only beauty salon two years ago focused on wealthy clients. business hours are 10:00 a.m. to 10:00 p.m., but it caters to customers any time of the day upon request. the membership fee is $5500. more than 100 people have already signed up. this year, lu plans to start a new business. a restaurant. shenzhen is expected to become china's third largest city in a few years. it is known by countless names, including the town of entrepreneurs and china's silicon valley. a new day dawns over shenzhen. in the past, shenzhen was merely a small fishing village on the shore across from hong kong. after china's open door policy, it was designated as a special economic zone and transformed into a base for electronics related factories. now, in the center of town stands a massive electronics market called huagianbai. more than 30,000 stores fill the land. it's known as the place to find any electronics in the world. shenzhen's total population is roughly 14 million with an average

inis hong kong. i am haidi lun. coming to you from bloomberg's asia headquarters in hong kong. this is bloomberg markets: asia. ♪ haidi: thousands evacuated. bracing for cyclone debbie. rishaad: comments on the 85% share collapse last week. the call -- the fall was unusual. haidi: credit suisse telling bloomberg it is considering options. rishaad: another official enters the race debate. uncertainty might mean only two hikes this year. the earnings season. the banks are in focus today. storyg possibly at a big as more people look at the glass as being half-full when it comes to reflation trade. haidi: if the impetus is u.s. stocks -- we seem to be taking that and running with it. seeing a rebound when it comes to japanese markets. changes, from donald trump would be nice to have rather than must haves. something the markets are digesting right now. we are 30 minutes away from the chinese and hong kong open. at howtaking a look things are going. it looks, from donald like investorsnice to are running with that glass half-full idea. we have stocks in taiwan, and malaysia coming o

halt in hong kong.ining market come up at stock up 60%. ♪ live-stream your favorite sport at the airport. binge dvr'd shows while painting your toes. on demand laughs during long bubble baths. tv everywhere is awesome. the all-new xfinity stream app. xfinity. the future of awesome. nine: 20 9 a.m. in hong kong as we count you down to the start of the trading day in china. i am rishaad salamat coming to you from bloomberg's asia headquarters. haidi: i am haidi lun in sydney. basics back to looking at the fed and data. we have data coming through from japan, ending up the week with china pre-them i -- pmi, but a lot to watch ahead of that shanghai and hong kong market opening. rishaad: we have seen enough up 60%with kaisa premarket. china southern confirming a two hundred million dollar investment from american airlines come up 5.3%. that was suspended on thursday, i believe. we are looking forward to a big ipo. we have the china fix as well, the yuan at the strongest level in a month against its american

hong kong tourism is improving.we see the big trend that is actually very supportive of the economy. far have the changes been viewed as cyclical? you can argue it is a structural shift. there's also a structural shift in singapore. are the government and authorities there addressing this properly? >> the big transfer companies is domestic consumption. more, are buying at home there luxury prices making it cheaper back home, and the cuts are tougher. you can call this a cyclical change in behavior, but there is where them trend older generation spends less and the younger generation spends more. could last longer than people think. insighto you have any into what progress is being made to get the msci approval? is this going to be the next catalyst for mainland stocks? >> i think this is inevitable. i think the next time around, the indication is unlikely to have been there are still too many companies being suspended, companies having trouble getting out of china, partly due to issues.controls and i don't think it

bejing's favourite candidate, carrie lam, has become hong kong's new leader.ut pro—democracy activists are angry over how the poll was conducted, denouncing it as a sham. and this video is trending on bbc.com. it was a very warm and very energetic welcome for chinese premier li keqiang who is in new zealand marking the 45th year of diplomatic relations between the two countries. you are up to date. stay with us. and the top story here in the uk: a 30—year—old man has been arrested in birmingham in connection with the westminster attack. counter—terrorism police have been searching a property where friends of khalid masood lived. carrie lam will become hong kong's new chief executive. but what the new chief executive. but what the new leadership mean for the economy? and what to look for in buying a piece of art. we get a few tips from the experts. hello and welcome to asia business report. i'm sharanjit leyl. a 1200 strong committee dominated by pro— beijing executives have elected carrie lam as the new hong kong chief executive. she has promised to heal wound

in hong kong, 8:00 p.m. in new york. this is "bloomberg markets: asia ." ♪ a rate hike is even more likely this month is another top fed official sees a positive picture at home and abroad. unpredictable australia again, trade remains positive, but smaller than forecasted. snapchat valued at $10 billion. a set of we had ahead of the asian trading day getting underway, dow hitting 21,000 finally. s&p seeing its biggest gain figure, all on these expectations we will see march move from the fed. all sorts of action in the asian trading session. japan punching through aching resistance level. the question is whether hong kong market will join in on the party. malaysia and singapore getting online. what -- let's check in on the markets. >> let's take a look at this chart on the terminal. japanese benchmarks in poll position with the nikkei 225 and topics tracking the dow's rise, this as the yen trades at a two-year high, a 50 month high potential with little resistance in its way. let's look elsewhere in the region. korean sh

hong kong's new chief executive makes history and promise toss heal her divided city. >>> live from hongcome to our viewers in

-- well hubs of singapore and hong kong?sly we have been serving china as a market for many decades. most recently we established with ubs securities industries and we are building branches throughout the limited structure we have here. china is obviously one of the key markets that is here to stay. it is a large fundamental trend on wealth being created. we want to capture that by going on sure. -- on sure. the markets have their own dynamics. we see there's more potential and the china equities market. there is a cycle and transfer growth. what would be the biggest concern being voiced by your clients right now? first of all, it all starts with the u.s. risk do weopolitical have, how much of the rally will be sustainable? if you look at the clients, the most institutional clients have been focused. there has been a rally. people question if it will be sustainable. in this part of the world, people ask, what about china? how sustainable is it? people want to find a better way to exit. you also see in this part of the world

beijing wants hong kong's new leader to run a stable government. especially now, stability is their top priority. china has entered a politically sensitive period ahead of a major power shuffle within the communist leadership later this year. there is talk that president xi jinping will make his first visit to hong kong in july on the 20th anniversary of its happenedover from britain. china wants to show the world that one country, two systems is working very well. mass protests against xi would challenge that claim and damage his authority. once the election is over, beijing could come up with a range of measures to ease public anger and frustration. until then, hong kong is anxiously awaiting for the results. >>> the u.s. president has chosen aew ambasdor to japan. william hartrty wain chargof personl l affas onon dald trump's trsisitioneam.m. he sererve as a aemember oththe white e use staff during g geoe h.w.bush'sadnistrati, dealalin withhrade picicies. anduriringhe 2012 esidenal ection, he joinethe campf republican candidate mitt romney. japa

the cost of renting an office in hong kong is apparently 110w office in hong kong is apparently now threengapore. and the two are asia‘s most competitive cities but when it comes to the property market, hong kong is in another league. so is this bad news for the city and the businesses headquartered there? i asked nicholas holt, a property expert, why rents are that high when the economy is slowing. hong kong rents continue to defy expectation but i think we need to define what were talking about here. because we are really talking about premium office spacejust in central, on hong kong island. if we go outside central, rents drop significantly. if we go east to places like quarry bay, rents a re east to places like quarry bay, rents are half or one third of the price. with hong kong almost three times higher than those in singapore, is the spread boosting singapore‘s appeal as a regional headquarters, vis—a—vis hong kong? certainly for many corporations looking for headquarters within the asia—pacific region, really you would be looking at hong kong or singapore. perhaps shanghai but mor

looking at the futures board for chinese and hong kong shares. have numbers for the developers,ese soa china resources, expected to show slower growth. we will get the results from tencent, cheung kong properties, and ck hutchison. rishaad: thank you for that. back to sydney, paul allen on standby with first word news. paul: rish, u.s. supreme court nominee neil gorsuch says he would not hesitate to rule against donald trump if the law required it. he said the constitution has many protections for religious minorities. he told his senate confirmation hearing that he has made no promises about how he would rule on any issue. >> no one in the process from the time i was contacted with an expression of interest to the time i was nominated, no one in that process, mr. chairman, asked me for any commitments come any kind of promises about how i would rule in any kind of case. paul: britain has joined the united states in banning large electronic devices in the cabin from select cities. tablets, laptops, and dvd players must now travel in baggage after

encroachment of china on hong kong's affairs.nizes the divisions and frustrations in hong kong society and says she will try to work to ease these moving forward. there is a lot of discontent bank to the increasing wealth gap and surging property prices, property being out of the reach of many young people. she has promised to focus on boosting the economy. she has a projected cash surplus of $12 billion for hong kong in the current financial year, so that should help her, but she said she will not look at electoral reform. >> thank you so much for bringing up for us. up next, an alliance in the air. american airlines and china southern shaking hands. this is bloomberg. ♪ ♪ 7:30 a.m. monday, 30 minutes away from the major market open. betty: very crystal-clear, unusual. things are turning up. sunday evening here in new york, markets closed mostly down on friday, getting back. a bit of a shocker, donald not getting the health care reform it is nowngress, and moving on to tax reform. i am betty liu in new york. yvonne: i am yvonne

what is the outlook for hong kong ipos? st $1.5e've had it kong thisles in hong year, not a great start but the outlook is good. we're expecting large fintech deals from china. we are not sure when they will rise from hong kong. -- price from hong kong. david: we are waiting for pricing. on thisu for joining us listing of china's third biggest brokerage. later on, the outlook for middle eastern equities and saudi and inclusiontial on the market index. yousef: also, we will hear from the kuwaiti oil minister. this is bloomberg. ♪ ♪ "bloomberg markets: middle eastthis is -- this is "bloomberg markets: middle east ." let's have a quick check of the business flash headlines. you look at years of china southern, 2% on the upside. we are on the break. trade today has been suspended since thursday, that is when bloomberg reported that american misreporting -- preparing to make an investment of $2 million. it will be through china southern's shares. china's -- group is buying a stake, adding to a shopping's reign -- spree that tops

we have the city -- citigroup head joining us at 6:30 this evening hong kong time. 10:30 in hong kong0 a.m. in new york. at 8:00 we hear from everyone else. you can see the times there in london and new york. and the former finance minister. those are coming up later tonight. let me tell you what is coming up on this program. be the big news on the leader, we look at the issue. ♪ david: breaking news right now. a chinese company, look at that. down before the break, 89%. we are still trying to figure out what has been going on with the stock. the drop happened 20 minutes back. $.30 in hong kong dollars. it looks to be that is where the market is trying to find the floor on the stocks. 90% down. no news flow thus far. thatll keep you updated on if you're looking to get in, a good time. kong, a select group voting for the territory's new leader. you have politicians and business leaders choosing from contenders. our reporter is outside the legislative council building near hong kong. what can we expect? the election committee, 1200 people will be counting their votes for the next chief

and that is the key for hong kong.whenever we have had negative or low real interest rates, meaning inflation is higher than the rate of interest, we have had a buoyant property market. the the last 10 years, production of housing in the market has collapsed. he used to be 24,000 to 28,000 units per year. in the last decade, that has dropped to 10,000 and below. the supply is coming up, 15,000 or 16,000 units per year come a but still below the long-term average could you have demand field by lower interest rates and no supply, so prices go up. simple. haidi: we are going into this election, housing affordability is a sensitive issue. there has been a variety of different measures, curbs put in place to different of fact. what expect the campaign rhetoric to be? and whoever wins this election, what do you think the policies will be? i see a continuation of the expansion of the land supply. the current government has been doing that for a number of years, and done it quite successfully. we are seeing housing starts andl

the first one is the former hong kong chief -- second-highest official in hong kong, and the -- she sayshe wants to focus on it narrowing the wolf gap. gap.econd -- wealth the next we have the former hong kong financial secretary for nearly 10 years. kwok-hing, awoo former judge, throwing his hat into the ring as well. these will the three that the vote will be between. shery: and the vote is secret, so some people might change tsangmind so that john wins. aside from being the favorite , he needs to get over 600 votes to win. secret vote, a there is a chance that some people could change their mind who is ther tsang, most popular. he has been ahead in the polls, but the election is done by a small committee, so that matters very little in the process. back to you. rosalind chin, thank you. time for a quick look at what is coming up over the next few hours here on bloomberg markets. now, rich, what are you thinking? >> we see a nice and percent fall when he came into its profits. that is the worst showing followers profit they have ever seen. but better than expected. a lot of questions a

these are live pictures from hong kong.e election, that is before the 1200 seat election committee, mostly pro— beijing, will pick their candidate. there are three candidates to take over from the outgoing leader, his name is cy leung. his deputy, carrie lam, is beijing's choice for the top job and according to opinion polls, her main rival, the former finance chief, john sang, is the public favourite. the final candidate is retired judge woo kwok—hing. they are meeting and greeting at the moment and our correspondentjuliana liu is in hong kong and she is watching the developments. bring us up to date. good morning, lebo. a few moments ago we found out the general public don't get a vote, the people who are voting on a committee ofjust under 1200 people. this is an election committee that is comprised of members largely loyal to the chinese government in beijing. they will be choosing hong kong's next leader and we should be getting a result in just under three hours from now. in terms of the three candidates, the front run

small group who would be described as extremists by many people and according to independence for hong kong reform within the chinese system. the worry for many people now is the more that china puts its own stamp on politics in the territory, squashes other points of view, the more it feels like the mainland in terms of politics. that's what lies behind a lot of the democracy movement, they don't want to be completely absorbed by the mainland and become just another chinese city. beijing not very happy about this pro—democracy cause themselves? but it seems they are playing quite a tough line and also to some extent a counter—productive line. they are taking a very hard line. they are taking a very hard line and that's provoking a backlash. some of the people who are in the middle are saying, if beijing was more careful about its approach and allowed some movement in terms of local autonomy and that sort of thing, and wasn't clamping down so ha rd thing, and wasn't clamping down so hard on dissent, that would probably ta ke hard on dissent, that would probably take some of the wind out of

looking at the open in hong kong. free market come all stocks on the hang seng moving to the upside, except one notable exception, cathay pacific. let's see how that is playing at and get to the start of the session. here is sophie. theie: hong kong with biggest advance, up 1.4% despite the drop in cathay pacific. followed by taiwan and malaysia. .upport for the taiex we do have chinese stocks rising for a fourth day here, led by minors and industrial stocks. i also want to look at what is going on with the hang seng here. given that property stocks are in focus following the fed rate hike, real estate up 1.5% here. hong kongpected as raised its base rate. authorities say they need time to observe the impact on the property market. is going onat what in the currency space, the south againston up over 1% the dollar given that dovish fed outlook. the taiwanese dollar rising the most since may 2015, and the southeast asian currencies joining that tide of strength. the ringgit at its highest level in five weeks. the offsh

in hong kong, 9:00 p.m. in new york.mberg markets: asia" i am haidi lun. ♪ haidi: the fed is running out of reasons to delay a rate rise as officials like an imminent hike. abenomics at the crossroads, inflation higher in japan, but spending continues to fall. china's political elite gather to plan targets for next year. we are live in beijing. well, we are ending the week on a muted note when it comes to asian markets, tracking losses in the u.s. earlier on, some jitters ahead of speeches from stanley fischer and janet yellen of the fed. to add to this course of the increasingly hawkish remarks from fomc officials? 90 percentcing in a chance of a rate hike. imaginegets derailed, i quite a bit of chaos on trading floors. trading in indonesia underway, but a lackluster picture. sophie: investors taking a breather, waiting to see if the chorus and force around that hawkish fed speak. she is the lead singer. in the region, japanese shares extending a drop .1%, but near 14 month highs thursday. japaneser we got the inflation

yvonne: and next week go live to investmentsuisse conference in hong kong. we have some breaking news out of h in a. they have announced a unit will , hongsing some money here kong dollars, 9.26 billion dollars from a right issue. this is a construction management group, part of 810 a. we have long known agent a for some while it is a very inquisitive company, into aviation and tourism. have really been reaching a broad here. watch thoseinue to lines coming out of h and a and the rights issue. headlines.k of the 22hipmaker has secured billion dollars. two thirds of that coming in .rom the jewel china bank china spending an estimated 200 $50 billion to become a world leader in should design and manufacturing. betty: japan's biggest shipping line is forecasting a profit in the first year. to teamusen kk agreed up to create the world's six largest container line. it says profit will come from cost savings of 990 million dollars in the first year of joint operations starting next april. yvonne: nuclear power has scored a win in japan with a judge ruling against

a day at the mall turned hazardous to shoppers in hong kong.ook at the accident that sent dozens of people in the wrong direction. stay with us. right now, get two lines of unlimited data for a hundred bucks. taxes and fees included! two lines, a hundred dollars, all in, all unlimited. switch today. [ om[ sniffs ]c ] little girl: daddy! trapped by your unrelenting nasal allergies? [ meow ] [ sneezes ] try clarispray clarispray provides unsurpassed relief. it's 24 hour, non-drowsy and prescription strength. free yourself with clarispray, from the makers of claritin. that the essence of integrity is a promise kept. ♪ if you've got the time welcome to the high life. ♪ we've got the beer ♪ miller beer it's about moving forward not back. it's looking up not down. it's feeling up thinking up living up. it's being in motion... in body in spirit in the now. boost. it's not just nutrition. it's intelligent nutrition. with 26 vitamins and minerals and 10 grams of protein. all in 3 delicious flavors. it's choosing to go in one direction... up. boost. be u

juliana liu is in hong kong for us. 're out and about, very much a monday as normal for many hong kongers going out about their business. what has been the reaction so far to ms lam's when? carrie lam is the first women chief executive elect in hong kong but that historic fact being overshadowed somewhat by the fact she has become such a polarising figure in the past few days. she was not the people's choice. she admitted that somewhat in her first press c0 nfe re nce , admitted that somewhat in her first press conference, saying she was coming into this role with humility and she would try to mend the divisions in society that she sees. let me show you how this is being reported in hong kong media. this is one of the top—selling chinese dailies in hong kong, it's a broadsheet, you can see a large photo splashed across the top with the three candidates, john tsang, who in many opinion polls was far more popular than carrie lam, she's in the middle, and the retired judge, and the headlines, carrie lam won 770 votes, the m

rishaad: i am rishaad salamat in hong kong.ar power scoring a win in japan, a judge ruling against the ban on starting to reactors. the government sees nuclear as an essential part of its economic plan, but opposition is strong. hasi: china's top chipmaker pledged as much as $22 billion. the group says two thirds is coming from the chinese development bank. the rest is from a national fund intended to drive advances in semiconductors. estimatedpending an 150 billion dollars over 10 years to become a world leader in chip design and manufacturing. has won praise from president trump after announcing a $1.2 billion investment in three michigan factories, going towards engine manufacturing plants for the ranger and bronco models. the dollar posting its biggest gain since early march after stanley fischer said to bring more rate hike seem appropriate. our next guest says emerging markets and asian currencies are looking interesting. thank you for coming in. i think what he said when asked whether two more rate hikes would be appropr

we are outside the hsbc building here in hong kong.ealind: mark tucker will the first person from outside hsbc to take the role of chairman. said they were looking for replacement for the current chairman, they had already said they were looking for an external higher and a nonexecutive role. the chairman has been with hsbc for 21 years. aia's new ceo is the current regional ceo. he joined around 2010, around the same time as mark tucker. aia said the value of new business grew from $667 million in2010 to 2.7 $5 billion november 2016. in 2016.billion what is mark tucker taking on? challenges, some deep-rooted changes, controversies, job cuts, restructuring that she is taking on quite a challenge there. rosalind: indeed. is one of those banks that has seen declining revenue for five years. the last results were not that great and did not give investors much to cheer about before shares dropped on the day. it announced a $3.4 billion pretax loss for the fourth quarter and blamed that on slowing core markets like china and the u.k. china'

i'm yvonne in hong kong. betty: and i'm bet yes lue in hong kong.ill brooks and pimco have made amends. a year after he was ousted prosecute the firm he co-founded. the two sides announced the agreement in a joint statement. gross stewed after he resigned and went to janice capital, contending he was pushed out by executives. pimco will pay $11 million to settle the clay. uber self-driving cars have returned to public roads in the u.s. three days after a crash in arizona put the testing patter on hold. one of the volvos was involved in a high-impact crash on friday. police say the vehicle was not responsible and nobody was injured. and growing concerns about used car prices in the u.s. is seeing he's and its top investor carl icahn taking the biggest beating. hertz shares lost 20% last week. followed by warnings that the worst is yet to come. hertz is seep as being more exposed because its turnaround plans call for selling off an outsized numbers of aging cars. investors are assessing the prospects of trump administration's growth policy. i want to

i am is on man in hong kong. -- yvonne man in hong kong.to first word news with paul allen. paul? paul: to shiva says it's projected annual loss could $9uble to $9 million -- billion. to she was -- toshiba needs to raise cash as it has but the memory business of for sale. the company has delayed the latest earnings reports. >> the bankruptcy filing for westinghouse is an important step to revive the company. it is also significant for toshiba as we try to block the risk for overseas business. announce earnings on april 11. paul: plans to take over the london stock exchange have been blocked by the eu. the decision had been flagged just five years after of potential move. sameey both provide the services. in some of the markets they are essentially the only players. they have led to a de facto monopoly. our concerns are very serious. paul: indonesia is preparing to expand its crackdown on tax invaders with the amnesty perioed ending on friday. this after the amnesty program revealed previously undeclared assets. may face ups made -- to a 200

hong kong stronger today. hong kong's hang seng on track.e emerging markets, malaysia in particular is one to watch. at least we are staying above water in terms of being flat on the regional index even though you're seeing weakness from japan. let's look at the stocks in the region. stocks falling amid concerns discounts could slow sales. back in the black after a couple sessions a very heavy losses. up by 6% as it comes online in the tokyo session. this amid reports it could attract 10 potential bidders. ramsey health care on a tear in sydney. michael mccarthy saying you do not get opportunities to buy top-quality stocks at lower pe's and it is looking attractive after a recent selloff. we have seen health-care stocks better across the region today. look at oil. we see oil on track for its first weekly game this month as we saw the u.s. stockpiles dropped. remember tuesday we had the 2.7% drop coming through in the crude contract. but it did rebound after the fed. we see it coming through in the $45.85.ntext, up 1%, whale have made a big t

hong kong's new chief executive makes history and promise toss heal her divided city. >>> live from hong kong, welcome to our viewers in the united states and around the world. i'm ivan watson and "cnn newsroom" starts right now. >>> we are getting grim images out of iraq's second largest city where the fight against isis is intense and civilians have been fleeing in panic. the u.s. military and iraq's defense ministry are looking into whether u.s.-led air strikes targeting isis may have killed iraqi civilians in western mosul this month. some of the victims are said to be women and children. the pentagon confirms that war planes struck isis fighters in one raid on march 17th. a u.s. defense official tells cnn it seems civilians were killed and injured. although, he adds, it is still unclear exactly what happened. cnn's ian lee is following all of this for us and joins us from cairo, egypt. it is good to see you, ian. it is iraqi forces that are on the ground, ian, fighting and they are being supported by u.s. war planes and they are presumably carrying out air strikes to help protect th

of honge only a handful kong centric names in the hong kong index itself.tive over the long-term as we see the growth of china and will show through the indices. wheren you have companies you feel they have exciting growth, but is it 100% reliable growth? >> that is what we do with research and due diligence. in a market like china, you have to be called the center of this. something, ok,e we talked about this trump trade going on, this reflation rally. i had a guest on who said it is really one based on fundamentals when you look globally. reflation trade is often correlated with cheap value, low quality names rallying, so the unwinding of the reflation trade benefits investors like us who look for high-quality fundamental stories. in terms of reflation, there is a fine line between reflation and stagflation. we are not exposed to the reflation trade. where the risk for china is short-term is the risk of overheating because it has been led by the industrial side. we had pmi for manufacturing and nonmanufacturing good nonmanufacturing, not just services, bu

shanghai and hong kong markets coming online now. quite nice pop on the hang seng, higher by a quarter of a percent, now holding higher by 2/10 of 1% after that 1.1% drop during yesterday session. the shanghai composite up by .1% after that .5% drop coming through yesterday. we are all focused on what is happening with tencent. let's look at how it opened up to those results came through. a lot of gains in its spending if we can have a look at the share prices as they open. tencent is down by 1.6%. not a single cell recommendation on the stock. it is spending on payments and ure users. l income was higher, but below estimates. stronger, it's profit climbing. it had a 6% climb in earnings. an emotional press conference we had also yesterday from li keqiang as he came through with those numbers --li ka-shing as he came through with those numbers. restoredve more calm to wall street after that big sell down during the tuesday session. south korea and focus, a bid from some of these emerging market stocks and assets. the aussie dollar un

most may be some of the unless stocks in hong kong, but they are some of the biggest gainers. at a disconnect good we will find out why, next. this is bloomberg. ♪ kong's mostof hong beleaguered companies have been showing a rally when it comes to the stock market. analysts see the shares heading downhill. ,ere to explain the disconnect why are these low rated stocks doing so well? would expect the opposite to happen, but that is not the case so far this year. the king to strategists, one reason is perhaps when the economy is slow and there are it is highly rating companies that can deliver earnings growth despite headwinds, so they tend to outperform. when the economy turns positive, the laggards, the lower rated companies look like they can deliver earnings as well, and then stocks people weren't interested in before might look cheap to some people. david: it is money chasing what has fell you. you talk to and let's just about every day. what are they saying about this? >> we look at some stocks that have gained despite having sell ratings. , analysts have reiterated their po

david: i'm david in hong kong.ustralia is hoping to get ahead of the game by strengthening ties with regional partners as president trump considers his relationship with asia. foreign minister julie bishop is spending the next week visiting malaysia, philippines, and singapore, where haslinda amin is standing by for us. a very timely visit. it is because australia is looking to reshape its foreign policy over the next 10 years. let's get perspective. how is australia navigating all of that? >> we are going through a period of extraordinary change. the last 12 months, there has been unprecedented events -- britain exiting from the european union, the successful campaign of president trump in united states. there are also challenges to our assumptions on the international order that has been the framework since the second world war for the prosperity and security of their part of the world in particular. all this is a challenge at present, so i will be speaking about the challenges but also the opportunities i see an

she is widely perceived to be hong kong...ferred candidate and that's indicated in a series of direct or indirect interviews the local press, as well as indications in pro—beijing media. so barring any very last—minute scandal or very unexpected upset, she is expected to be announced hong kong's next chief executive in about two hours. just tell us what public opinion is like when it comes to this election, because there is a pro—democracy push there, isn't there? there is a pro—democracy movement. this is the first election since the protests of 2014. i'm not sure if you can make it up behind me but there are pro—democracy protests with their yellow umbrella is and yellow signs. they are protesting against this process, as well as mrs lam. she is perceived to be beijing's preferred candidate but she is not the people's choice, according to a series of polls as well as a mock election that ended last weekend. the people's choice is actuallyjohn tsang, the former financial secretary. he is far more popular. carrie lam has promi

in hong kong. .m yvonne man a big week for markets, boj, boe, theresa may may trigger brexit, and elections in the mix. in as well, athat lot of macro events. a big snowstorm hitting the northeast and 24 hours, so that will wreak havoc on flights. it sounds like it will be another week or where we have to strap our seat else on and ride it out for the week. >> a blizzard in march. let's kick things off in the asia-pacific this morning. maybe just a calm before the storm litter to me and figuratively. -- literally and figuratively. let's look at the on c open here. very slow going. -- let's look at the opening here. very slow going. everything has been priced in when it comes to the fed. japan, let's see how things are looking over there. dollar-yen of way above the 114 handle. it could be slow going when it comes to stocks in tokyo this to chicagocording nikkei futures. the top story remains in south korea. the ousted korean leader park geun-hye has struck a defiant tone. her fall has left the countr

cafe is in hong kong. -- cathay pacific is in hong kong. it is not really a western airline..a thank you so much. bob crandall, former ceo of american airlines with us on the line. oil producers talking about output curbs being expended in, we will have talks had potential market implications. this is bloomberg. ♪ ♪ betty: good morning, i am betty liu in new york. haidi: i am haidi lun in sydney. you are watching daybreak australia. independent oil producers and opec members are looking at extending the draining of the blood. -- glut. there are conversations with kuwait, saying it should be another six months after the current program concludes in june. looking at the situation now, here on set. it is a given that they need to extend. >> absolutely, the markets call for it, and there is in patients when we continue to see building inventory and growing u.s. output putting pressure on that market, not getting i suppose the high-frequency data like the rest of the globe. the opec under -- production cuts are supposed to do the bulk of the heavy lifting. i think basically the ma

a hong kong —based firm will run one of the biggest rail franchises a hong kong —based firm will runs to be taken over by mtr and first group. now it is time for the sport. hello, this is sport today, live from the bbc sport centre. coming up on this programme: roger federer‘s bid for a third miami masters title gathers pace. india are on the verge of winning the fourth test and the series against australia. and senegal‘s friendly with ivory coast in paris is abandoned after pitch invaders rugby tackle lamine gassama. hello and welcome to the programme and we start with tennis news. 18 time grand slam winner and world number six roger federer had few difficulties negotiating a path to the fourth round of the miami masters yesterday. the big one martin del paco. —— he beat one martin del paco. —— he beat one martin del paco. —— he beat one martin del potro. the swiss who's already won the australian open and indian wells masters tournaments this year was rarely troubled against del potro, and will play spain's roberto bautista agut in the round of 16 as he searches for a third title a

elected to lead hong kong, but not by its people.ro—democracy activists denounce the poll as a sham. i'm babita sharma in london. we meet two young boys in a hospital in mosul as the iraqi city continues count the cost of the fight against is. we hear from the lawyer representing amos yee, the singaporean teenager who has been granted asylum in america, after being jailed for his online comments. good morning. it's 8am in singapore, 1am in london, and 3am in moscow where thousands of russians have been taking part in anti—corruption rallies across the country, in defiance of the kremlin. the biggest protests were in the russian capital, where police say 500 people have been detained. they included the opposition leader, alexei navalny, who's called for the demonstrations. the rallies are the biggest seen in russia for several years. the us state department says the detention of the protestors is an affront to core democratic values. there were moments when moscow resembled a battlefield. russian riot police broke up an anti—governmen

she new leader of hong kong, the first woman to hold the topjob.by a committee rather than giving everybody evoked. —— a vote. the winning moment. carrie lam is the first woman chief executive to be elected in hong kong, but she didn't get to soak up the applause for long. minutes later, a group of activists protested against her win. they carried yellow umbrellas, a symbol of the 2014 democracy protests, and charted, i want universal suffrage. as she stood on stage. the former civil servant was undaunted. my priority will be to heal the divide and to ease the frustration is and to unite our society. there was little sign of unity outside the voting venue. she was elected not by the people but by an election committee, largely loyal to beijing. these activists are protesting against the entire election protest, calling it a sham. carrie lam has promised to heal divisions in society. but given the lack of widespread public support for her, that could be very difficult to achieve. we are here to protest against hong kong's small circle chief executiv

shery: i am shery ahn in hong kong.ng against a global rise of protectionism. i spoke to former ibm ceo and the chairman of fund group and asked if asia should be worried about growing economic nationalism? >> i think it will affect asia but i think asia has now a very large consuming class. it is generating its own demand. then new demand in the world is coming from developing economies, especially the ones in asia. withcould actually do more an asia itself but i do not think that is the best thing. there should be continued globalization, continuing a multilateral treaty system. help a perverse way, a get their innovation agenda. when you think about what is happening in technology, exports asia.he u.s., export into if all of a sudden that intellectual property should you would seee you next celebration of innovation and ingenuity within the asian population. they have the skill, the great schools. i would watch and see what would happen. >> just to reinforce that, one of the greatest factors around the world is the e

in hong kong, the stock is up.e will see how they react given that it is now and that loss of 575 million hong kong dollars. pretty bad results given the estimate. we will beracy: digging into those results later in the show. first, let's turn to markets. there is a lot to digest today. we had a fed decision coming up. we had the dutch election. vendor -- then there is oil. crude went on a wild ride. a reporter joins us now out of singapore. you were looking at the technicals of tuesday's move. what did you see? reporter: it was interesting. although oil was extremely ,olatile and it looked bearish it is pretty much hovering around the 200 day moving average. it did a similar thing in august and november of last year. it bounced from there. we sell reports from goldman sachs and citigroup that say this is a buying opportunity for oil. shery: let's turn to the fed. what about the meeting? is it a dovish or a hawkish hike? reporter: four people came out in favor of a dovish, two people came out in favor of a hawkish

shares in hong kong higher by .5%.onsolidating above 24,000 after that spike last thursday. this is #6915. appetite for emerging assets, hang seng futures could be in the early stages of a move towards a 26,000, so something to look out for. property stocks have helped to drive the gains. some of the movers and asia today, real estate in hong kong following the latest data out of china regarding the rise of home prices in february. ke down four .5%. china mobile up over 3%, rising for a third day ahead of its earnings report. bloomberg analysis expects fourth-quarter growth may fall short. and china telecom may win greater market share thanks to their improved 4g networks and iphone 7 subsidies. on do have shares of ha hai down .2%. just checking some malaysian malaysia airports rising to a six-month high on reports alibaba will set up a regional , the stockn hub trading at an unusually low 80% premium compared to its peers. haidi: thank you for that, sophie. a pretty sluggish day on the asian markets. the chinese prem

hong kong jumping to a 22 mark high after a result estimate. the story of the day is that we have seen bollettieri --volatility ease and buyers come back into the markets. absolutely, in most parts of the markets, to follow through on what you said, there is calling coming back into the markets. when you look at what happened with the south african currency, have a look at my bloomberg. it was the worst performing currency across emerging markets yesterday. with the south african currency, have a look at my bloomberg. it was the worsthave a look at e there. , it movesdollar ran all the way back to the day of the u.s. election. they came after the president unexpectedly ordered his finance minister home from an investment roadshow. gordon,ow talking about who was told to cancel the offensive the u.k. and u.s. without getting any sort of reasons. a reporter joins us from johannesburg. we have to talk because we do not know the why, but we can talk about what is happening generally speaking. how is a market reacting? quite right, we do not know wh

shery: i am shery ahn in hong kong.entiment reverberating across markets in asia. falling the most since december 15 of last year. i cannot wait to see how the markets in the emirates will open. sentiment will be subdued from the latest travel restrictions on certain airlines. depends onlace that connectivity. we will get more on that in the second. first on company earnings and company news. the saudi-based clothing repair -- retail is planning for egypt. shopping to build malls over the next three years. you are looking at the stock's down 16%. the consensus rating here is to hold. they have picked an investment banking team for the emirates bank. focus as well.n the south african rand has been a very interesting trade in that complex. onry: you mentioned the ban middle east airlines. a ban on passengers carrying laptops from direct flights to the u.s. from to buy and so on. we have to give you some hacks for our viewers of course, how you can overcome that. we have this great read on bloomberg. some very interesting

rishaad: based in hong kong. lisa: yes.is that there needs to be a board that will facilitate the prices according to the gases. the shareholder meetings will help resolve some of these problems. rishaad: we resolve these problems, but tell me, what does the financial community say about what is going on? lisa: it has been quite a saga. there have been a lot of commentators that feel like they don't know who to believe anymore because the two sides have been arguing a lot. a lot of he said, she said. they hope it will be reconciliations down. rishaad: thank you so much for that. having a look at the beginning doug gas, which is at the forefront of this. -- yingde gas. we have international women's day and the gender gap is closing. we have the market open in hong kong and over in shanghai. ♪ ♪ looking at victoria peak in the heart of hong kong, 9:29, counting down to the china open of course. we are coming to you from the bloomberg asia headquarters. lun in sydney.di we are tending down in the opening in shanghai and shenzh

official is elected by. >> all right, ivan, reporting live from hong kong. thank you so much. >> and we'll take a short break here. still to come, the u.s. vows to find out what happened to dozens of iraqi civilians. their bodies were found in flattened homes in mosul. was isis or a coalition air strike to blame? >>> some further responsibilities for the u.s. president's son-in-law. ahead, the new white house office he'll be heading, stay with us. i'm only in my 60's. i've got a nice long life ahead. big plans. so when i found out medicare doesn't pay all my medical expenses, i looked at my options. then i got a medicare supplement insurance plan. [ male announcer ] if you're eligible for medicare, you may know it only covers about 80% of your part b medical expenses. the rest is up to you. call now and find out about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement insurance plans, it helps pick up some of what medicare doesn't pay. and could save you in out-of-pocket medica

and first day in the office for hong kong's new leader, carrie lam.ll be looking at the business reaction and challenges ahead. welcome to world business report. i'm sally bundock. also in the programme: bt has been hit with a record fine from the uk's telecoms regulator. details in a moment. but first... it was a key weekend for the oil industry. members of the producers cartel opec and some of their allies were meeting in kuwait. they signalled they are considering extending their curbs on how much oil they pump each day. so what impact will this have on the price of oil and therefore the cost of all kinds of things like energy and transport which make a big contribution to what we pay for goods in the shops. they were meeting because of this. oil prices rose sharply when the countries meeting in kuwait agreed to cut prodcution at the end of november, and while prices held up for a while there's been a drop of around 10% in the last few weeks. they cut production to try and force prices up because many of their economies rely on the money it brings

this is bloomberg. ♪ ,"onne: this is "daybreak asia and i'm the yvonne man in hong kong. vehicle makers with companies like tesla dodging taxes. from april 1 electric cars are being taxed. let's bring in our reporter bruce. how devastating is this going to be for companies like tesla? >> it could be a big hit for them. for over 20 years, electric cars have been a bit from what is called the first registration tax in hong kong. so starting tomorrow electric cars are going to be subject to that just like old-fashioned gasoline burning cars. yvonne: why this change? thehe government says that roads are too congested in hong kong which i think anybody who drives here can confirm. -- and there are are still other incentives in place of that the government has will make electric cars attractive as opposed to gasoline burning cars but the government has decided that having this exemption from first registration tax is no longer next ferry. -- no longer necessary. , ande: china numbers marched nonmanufacturing pi coming in at 55.1. quite a kick up from what we saw in february, 54

>> i think beijing government should trust hong kong people. we are not against them. >> we can do something and let the people's voice be heard by the other people so that we can make a difference. >> reporter: lam has called on her opponents to set aside their differences. >> informing my governance team, my principle is to attract talents widely and on merits. >> reporter: but many remain skeptical. experts say lam needs public support to n negotiate with beijing. >> to stand up and protect hong kong. but a side note it's extremely difficult. it's extremely difficult for any chief executive to do that and for her it would be even more difficult because in one sense, we know that from the experience of the election. reporter:r: hong kongng r resis are growing wary about beijing's influence. theyey expect president xi jinpg to make his first official visit in july to mark the 20th anniversary of the handover from britain. lam will take office the same day. people are worried about further confrontation as the new political chapter opens for th