i am rishaad salamat in hong kong.s to double its sourcing from india ahead of the opening of its first store in a nation pegged to become the world's third biggest consumer market. the company has a goal of 25 stores by 2025 despite having trouble acquiring land. the first store was originally slated to open by the end of this year. biggest right, india's digital payment startup has raised $1.4 billion from softbank, the largest funding round in indian tech history. ytm we use the money to grow its user base. softbank will join alibaba and take a seat on the paytm board. the nikkei news says bain may bid for toshiba chips. hynix would avoid a management role to prevent antitrust concerns. rishaad: unusual signs with a rally,shares leading leaving mainland peers behind. what should we make of all this? hong kong exchange chairman, good to see you. what is going on here? withu would have thought the shanghai stock connect that pricing and the differential and pricing gap would close. obviously it takes time to work to t

rishaad: it has to be somebody from hong kong. >> a hong kong broadcaster can only be owned by a hongnt. what they found it is this famous media tycoon from china, who we knew had a stake, which include nonvoting shares, he holds 79% of the holding company. sophie: why is this just coming to light now? tvb is in the midst of a buyback, which would cement the owners of the company. it is using its excess cash to do this. at that point, the regulator weighed in and said, well, let's right, whether this is this buyback, because it becomes an m&a transaction. that they have unearthed all this, what happens next? that is the question. >> that is the interesting thing. what they have said is you can go ahead and put your buyback plan to vote, but the other things that emerged was not only does chinese businessman is the controlling shareholder vb, but theref t is money behind him, and we don't know where it comes from. sophie: are we likely to see anything similar? >> this one was triggered by the buyback plan. the chances these things could happen more often come i don't know. it does show

hong kong is basically a jungle mountain island. you see this incredible urban environment, carved into this jungle. ♪ hong kong is so full of incredible talent. fantastic education and environment where great ideas rise to the top. ♪ >> i have always been a geek. even since high school, taking computer courses and taking part in those physics and chemistry competitions. >> i remember vividly i got my first computer. when i finished primary school, an apple 2e plus. and then i started to, of course like the other kids, play a lot of games. the very first game i made was a ping-pong game where you have the toolbars and then a ball bounces off of them. i actually created a game when i was in high school that was a little bit more sophisticated than yours. >> hong kong is a small place. there are 7 million people. the hong kong people are really entrepreneurial. they start a lot of family businesses and look for a lot of ways to make more money, work different jobs. i think it is a land of a lot of opportunities. >> as a notch for nor,

in hong kong, 9:00 p.m. in new york. i'm haidi lun.ishaad: i am rishaad salamat coming to you from bloomberg's asian headquarters in hong kong. this is "bloomberg markets: asia." ♪ haidi: new warnings of the credit crisis in china as well management products boom. a increasing its stake in deutsche bank to nearly 10%. as donald trump's pick amid tensions. rishaad: there we go. talking about apple. nasdaq,ows how the which hit another record high has been powered up by apple to some extent. you can see that with apple included in nasdaq's total , but if you growth remove apple, just shy of 160%. important apple is as a retains its status as the world's most valuable company. you have been taking a look at the yen, i believe. haidi: that's right. the two stories, apple and the , not much in terms of reaction on the equity's story. -- equity story. japanese markets not getting a chance to react to this yen weakness. , technicalsat this when it comes to where they again is at now, still above that 112 level. the dollar is at a short-term p

uptick for hong kong in pre-auction. here is sophie.a slight uptick for hang seng, marginally higher, less than .1% at the open, but the shanghai composite coming back online after a four-day weekend, up .6%. the shenzhen market up 1.3%. h-shares on the back foot ever so slightly. traders have a lot of catching up to do. today, the latest pmi figures better than expected, basically couldg china's economy give regulator some scope when it comes to tackling financial risks. we did see a reaction in the aussie, a slight pop, but now giving up gains. copper futures in the wake of this pmi number, bouncing, loving that data, but iron ore futures still around a seven month low. we did have the pboc set the fix for the yuan at the strongest level since may 18. today's reaction in focus given that on friday, china said it is considering changes to the fixing formula. on friday, we did have the yuan at the 6.85 level, the offshore rate today extending losses. ,n equity mover in hong kong lenovo shares jumping early in the premarket trade come up

>> it is 9:00 in hong kong. am haidi lun. "bloombergs is markets." ♪ >> the white house is in damage control mode facing allegations of who said what to who. asia pacific stocks on the slide and the dollar in retreat. world's biggest miner says it considers shale sale. rishad: another veteran returns to help the twitter revival. absolutely who said what to whom? let's bring up the chart. this message is coming out of the white house. did donald trump obstruct justice when he asked the former fbi boss james comey to stop the investigation against the now flynn.d mike ,e have gold positions reduced but will it come back on the back of all this. we will be discussing that. we will look at another company who has been slumping after this news has been breaking. more noise coming out of the white house. that is what we have coming out at the moment. haidi: we have seen a move into haven assets. the punch we have seen in dollar. i want to bring up this chart. whether wee story of were going to see the move away from the market focu

for those in hong kong. to the president of the asian infrastructure investment bank. betty: saudi arabia, we antioned it is planning multibillion dollar spending spree in the united states, looking to reset relations under the trump administration. detailscencio has more on this. remy, how much are we talking here? ramy: an unprecedented amount. $40 billion from what we have heard. this will mostly be going toward infrastructure revitalization, and interestingly enough we did no donald trump did campaign on this pledge to revitalize american infrastructure. it is coming at a time that is opportune in a way, trying to open the door with this current white house here. this is so far not official, but donald trump is scheduled to be going to saudi arabia sometime next week, and the news could in order to coincide with this strip. interestingly, trump's own son-in-law jared kushner, who has had his hand in many of donald trump of the affairs, both domestic and international, is reporting that he played a critic

salamat inam rishaad hong kong.r is expected to sign deals in beijing. speaking exclusively to bloomberg, the cnpc chairman says oil at $60 is not sustainable in a while the price may recover, he does not expect to see $100 again. [speaking chinese] working inrently over 50 products in 19 different countries within the belts in roads framework. of the 12 products we are signing at the summit, some are upgrades of existing projects. some are completely new projects . depending on local resources in different countries, we mainly invest in gas projects. in russia, and in central asia. in centralerations africa. >> how can the country mitigate dependence on overseas energy supply? >> on one hand, chinese oil and gas companies like us must continue to play the role -- on the other hand, we need to speed up our efforts in collaborating with resource-rich countries to jointly develop assets in order to replenish our country's ever-growing demand for oil and gas. in this way, we can balance our heavy reliance on imports wi

shery: i'm shery ahn in hong kong. pet trade mr.'s are heading to c tradehis weekend -- ape ministers are heading to hanoi this weekend. minister told us australia sees opportunity from the chinese initiative. for us to betunity able to work in a cobbler mentoring away with this initiative. australia of course has a great relationship with china, especially when it comes to trade. we have a lot of knowledge and its variants we can share, so i'm confident going forward, australia will be able to play its role as part of the broader initiatives being executed across the various countries and throughout asia and into europe. shery: you are in hong kong at the moment. you are there to launch trade negotiations with hong kong. what are you hoping to achieve out of this deal? steven: there is a lot more to trade than simply goods trade. a number of initiatives we can undertake. what i am focused on, especially in a highly developed economy like australia, is making sure we can maximize our export potential. basically, around

haidi: xd9 and in hong kong, 11 it 9 a.m. in-- hong kong, 11 a.m. in sydney. 9 p.m. in new york.berg markets: asia." i'm haidi lun. for the asia-pacific with china, hong kong, and taiwan markets all closed. telling bloomberg the target is close. japan remains stuck in neutral

lulu chen and hong kong.ing up, we will have more on the man appointed to probe russia's links to the u.s. election, fbi cheap -- chief robert mueller. this is bloomberg. ♪ >> from our studios in new york city, this is charlie rose. charlie: we begin this evening with politics. the new york times reports this evening that president trump asked former fbi director james comey in february to terminate the investigation of michael flynn. the white house has denied any wrongdoing. the president technologist and defended the position as his absolute right in a series of tweets early tuesday morning. the news has intensified criticism of the trump administ

rishaad: i am rishaad salamat in hong kong.: i am haidi lun in sydney. chinese smartphone maker xiaomi teaming up with a government-backed fun to raise $1.17 and expand its network of hardware manufacturers. it is working with the venture capital arm to put itself on the top of the domestic market. it is now fifth in china. rishaad: the aviation business enters a new era with the plane designed and built in china, the iron ore is the latest attempt to break the stranglehold of airbus and boeing on the commercial jet market. the made inind china tag, the reality is the c9 19 uses western suppliers including ge and honeywell. ferreri adjusted growth to 36%apple, compared profit margin. former parent fiat chrysler manages 3%. bloombergight, the euro spot index has gained the most due to the french election on sunday. traders are expecting a choppy ride. jonathan, thank you for joining us. there is always that risk of something going in the other direction, but it looks like mr. macron is well set. you see we could see some choppin

especially in hong kong, actually.k it is [indiscernible] prudence: we see them investing 3.5 billion euro dollar in so theyong kong areas, just set up a new company that is based in hong kong, innovation finance, which focuses on the commodity trading. definitely, we will see them doing more in hong kong and of course, in other countries. haidi: prudence, thank you very much for that. prudence ho for us in hong kong on that hna partners deal. commodities trade, one of asia's largest -- we are getting this announcement through now. its stock fell a further 32% so far in the early session, and it has seen record low after record the lowestg today to since 2001 after yet more worries. i think he warning noble could default within -- s&p warning noble could default. we are seeing more trouble looming. the company supporting a surprise loss in a previous quarter, getting on the wrong side of the bet on coal. before theropping downgrade. there are some concerns it could essentially default on its debt, and there have been w

ties between indonesia and hong kong already run deep. the trip, joko widodo was given a rockstar welcome by thousands of his countrymen and women. more than 150,000 indonesia is work domestically in hong kong. —— indonesians. they work hard to improve the economy back home. —— indonesians. they work hard to improve the economy back homelj hope when we return back to indonesia we can find work so we don't have to stay here for so long. during the event, a small group of labour activists demonstrated outside, asking joko widodo not to forget the plight of domestic workers overseas, even as he sought to increase business relations between hong kong, china, and indonesia. how do you go from just one spa in a small singapore suburb to running more than 100 spas throughout all in the world. she credits tenacity and passion for her business empire that spans not only singapore, but also in london, shanghai, new york, and elsewhere. sharanjit leyl caught up with her. thank you very much, cynthia, for inviting us into your spa. we will get a mani

in hong kong. we are counting down to the opening of trade in hong kong, shanghai, shenzhen.nny day after all that rain in hong kong i am haidi lun in sydney. they will be joining a mix to session. central bank activities, fed speak, also the opec meeting in vienna. the markets have priced in a nine-month extension for the deal, but take a look at this chart, in terms of the impact of any curb if it is extended into the rest of the year and next year. #8760, this is a historical chart that tracks the impact of opec's output cuts in comparison to the impact when it comes to prices. the last cut, you can see just how much more dramatic that cut was when you saw that correlating elevation when it comes to prices. the fact that even if opec comes through with the extension, it is not the shock needed to change the dynamics of the oil markets. it depends on compliance with producers like iran, which historically has not been compliant, and on the other side, u.s. production continuing to potentially undermine efforts of opec. let's get over to hsery. we are seeing in hong kong, an

looks sunnier than what we are seeing in hong kong. yvonne: i'm yvonne man in hong kong.i am betty liu in new york. you are watching "daybreak: asia ." let's get to the first word news with paul allen. budgetresident trump's has been dismissed by critics as a fantasy that would dramatically reduce the government's role, cutting social safety nets and negatively infecting -- impacting many of the world working poor who put him in the white house. it proposes $3.6 trillion in spending cuts over the next decade, including medicaid and low income housing assistance. >> it is a fantasy document. the assumptions about economic growth are ridiculous. it does not include the president $5.5 trillion in tax that's and the spending -- in tax cuts and the spending cuts are so massive, it is hard to imagine the republicans going along with it. rather than balancing the budget, it creates more deficits because of the huge tax cuts. paul: philippine president rodrigo duterte a as put a southern island under military role after terrorist links to the examining -- link to the examiner sta

in hong kong.-- sydney. oil front and center given that horrible selloff in the wake of the opec decision, markets this appointed their word deeper cuts despite well telegraphed extension of another nine months of that output curb deal. take a look at this chart. it suggests the medium to longer run could bring more pain ahead when it comes to oil prices, #8994, short squeezes and net longs continuing to plunge when it comes to brent. you have hedge funds and financial advisors placing huge bets that oil prices would rise, and that is slowly being unwound. abm amro saying we are seeing the long squeeze over the past few months, but after yesterday's move, there is room for a short squeeze, so watching that as we get underway. ,et's get over to hong kong trading underway way, a quite session given the absence of the u.s., u.k., and china trading today. juliette: yes, although it does seem things have turned around in the past 20 minutes or so. the nikkei 225.2%. hong kong open higher. the seventh se

. >> i am yvonne man in hong kong.old shareholders it is it by waiting several options for its shale unit. they will carry out a white a review of the energy operations. bhp has been claimed to have destroyed $30 billion of value. andrew mackenzie told investors that it will consider selling part of its energy portfolio. tosoftbank has declined comment on the fact it may raise its stake in nvidia. in's fourth largest shareholder with a holding valued at $4 billion. the ceo masayoshi son says he believes it is a leading tech investor in the world. and oh sockocasino from tokyo when japan legalizes gambling. to sayernment has yet where casinos will be allowed to operate or who can run them. it estimates the japanese market could be the most lucrative in the world. prefer of it would osaka. fun, and we are a company that focuses on fun, entertainment, and attraction. we pride ourselves on having the hotel, restaurant, and topic top amenities. we have the most michelin star restaurants comes of these are the important elem

prices are already high so hong kong.y high so there is an expectation they may ease away. japan is a surprise, they are worth chasing and australia has a lwa ys are worth chasing and australia has always been a favourite given the quality of life there. looking at china, we know that there are capital controls in place right now and the chinese were huge buyers in the region. how has that impacted the region. how has that impacted the property market? in the middle point of last year, chinese investors were very focused on europe and the americas, obviously what has happened with trump and brexit the money has come away from those markets and combined with the anti— curbing measures with the chinese currency much more focused on investing in asia—pacific despite some cost—cutting measures. if china can support a wonder one road, government approvals will come through. you are the chief executive ofjll through. you are the chief executive ofjl l here in the asia—pacific region. what are some of your chief duties? it is fa

there are a lot of outflows coming into hong kong.will see hong kong as the way to seek shelter? jonathan: you still have a valuations at a premium to h. those southbound flows are running at about $1 billion per week u.s. those of the biggest flows we are getting. yvonne: can off show -- can offshore still perform without the arbitrage? in mind thear domestic pension funds are likely to commit significant funds to the offshore market going forward. the flowabout 3% of for the year. the pension fund awarded -- that will perform -- betty: even though you are taking down your price target for the shanghai composite, you are keeping your 5c manic viewpoints. i will quickly name them off. health care, mass-market consumption, environmental protection, technology, manufacturing, and aerospace. on the one hand, you are taking the price target down to a shorter-term view. the long-term is very much contact right? jonathan: those five themes are likely to generate earnings growth higher than the overall market. they have policy support. for e

i'm yvonne man in hong kong. liu in new york. you are watching "daybreak: asia ." let's get to the first word news with haidi lun. haidi: threats to this system are receding because inflation is slowing and the global dairy industry is recovering. bankovernor released the semiannual stability report, saying risks have fallen over the past six months. he knows there is elevated global uncertainty, saying new zealand could be vulnerable if risk sentiment drives of borrowing costs. >> if you look at inflation in the last eight months, it has come off a series very significantly, and we are pleased about that. the fact is, we don't know if house prices inflation will increase again. we are watching a very closely, as you would expect. haidi: the japanese economy is showing signs of life. grows 4%l production month on month in april, slightly below expectations, but a big improvement on the previous month. there is more evidence that career is slowing. industrial production missed expectations by a wide margin in apri

in hong kong and i'm heidi. headquarters this is "bloomberg markets." >> fall ahead of the government spending plan as seeing short on savings. contrasting and new economy stocks. has e make it, what commerce at the race to the bottom. >> and i'm seoul, south koreans are headed to the polls to cast their votes in this historic election after theous ter of the former president and what we are seeing geo political tensions u.s. certainties with the and china. i'll have the details next. >> that is our top stories. south koreans headed to the impeachmentplal and of the former president. the next leader who is successful in this transition period. take a look at this chart, amidst the volatility, korean assets have been resilient. d it has been ranged since 2011. nd reaction to markets and valuations across the korean stocks in a world where we are seeing so much cheap money going into equities and going into yan. arks and the and look at the positioning of going into the election, the currency is a good place to lo

morning in hong kong.ching a break on the rain we have been seeing the past couple days. minutes away from asia's first market open. betty: it is 7:30 p.m. wednesday in new york where markets closed higher. record highs. of a&p 500 up 1/4 percentage point after the fed minutes. i am betty liu in new york. yvonne: i am yvonne man in hong kong. now to first word news with paul allen. >> the latest fed minutes indicate a rate hike in june with reserve officials judging the time would soon be appropriate. is minutes show a hike economic indicators remain in line with expectations. three increases, including the one in march, are forecasted this year. there is a $4.5 trillion balance sheet. u.s. banks given a competitive rivals,er european facing up crackdown over lending to highly indebted companies. the ecb published a blueprint on guidelines of the leverage to lending. at a time when the trump administration wants to ease regulations on wall street. they are enforceable in where the jurisdiction. philippine

hong kong.pi breaking news from -- on the money. 2% for the month of may. a slight take up for the month of april. core cpi is one to watch. we have been hovering around that 2% level for much of this year. the core cpi, which excludes oil and agriculture coming in at 1.4%. a little more tame it. you have to factor in the low base effect, low oil prices last year. prices should stay up for some time. on the domestic side, demand is subdued. should keep the bok on course to be accommodative. we will see how korea acts in an hours time. we start a new trading month in june. in new zealand, we're seeing things lower. the dollar stocks in the u.s. fell. .7074 softer u.s. data, the kiwi/ -- kiwi. we are expecting a slight fall from april. 76 -- .7426 from australia. timid, indeed. that is an early look at the region this morning. wall street, we do not exactly sell in may. we are seeing the end of the month with a bit of red. betty: it would have been a much higher if not for the declines we saw in t

in hong kong. i am haidi lun.his is "bloomberg markets: asia." ♪ haidi: asia-pacific markets on the slide has oil drugs on energy stocks. japanese inflation the fastest in two years, but 2% still far off. crude slumping, opec extends curbs into 2018. traders were left underwhelmed. president trump arrives for his first he g7, meeting fellow travelers that he named and shamed at the nato talks. we are watching developments in sicily, where world leaders have gathered for their meeting. ,ake a look at this function tracking the trade picture between these nations. you can set that function to the united states and look at the relationship between the g7 countries, canada the top trading partner, followed by japan, germany and france. in terms ofk down .hat that relationship means we are expecting the u.s. president to address trade at the top of his agenda, pushing for more domestic trade. g7 leaders are wary whether the rhetoric of protectionism and an inward looking u.s. is going to be at the top of the agenda as

haidi: i am haidi lun in hong kong. rishaad: i am rishaad salamat going to from bloomberg's headquarters in asia. this is "bloomberg markets: asia." ♪ asia-pacific stocks climbing, japan hitting a 16 month high, investors positive about global growth. rishaad: china's foreign exchange reserves strengthening for a third straight month. emmanuel macron emmanuel macroe french election with a decisive win over marine le pen. rishaad: right, we are looking at what is going on when it comes to trade numbers out of china. they should be out in the next hour, about $35 billion, the surplus there, giving us an idea of what is going on with the global economy and domestic demand, the intrinsic point for the chinese economy as we see this rebalancing taking place. seeping out of the country, but it feels like these capital controls are working. haidi: some pretty jerked capital controls. draconian -- pretty capital controls. we did see that in the fx reserves. #8392, that pulls together these stories, the yuan stabilizing, the spo

i am yvonne man and hong kong. calling it hasn't are off a plane of -- saying it was a mistake of epic proportions. the transportation committee hearing comes after david dow was dragged off of a united flight. staff rejected a turnaround plan. alitalia says it has exhausted all options after workers voted against a $2 billion refinancing land. -- refinancing plan. >> as many as 20 boeing seven 87 dreamliner's will be purchased. the order is worth around $5.4 billion to clarify westjet's strategies in asia and the western hemisphere. let's have a quick look at what is coming up on bloomberg markets. i know you're taking a look at apple as well. >> they were a miss. also forecast as a bit of a mess as well. laying it all on the doorstep of the iphone eight due out in autumn. no one is buying smartphones because they wait. they have to kick this thing out of the park. it has to be something really special. also looking at what is going on in chinese markets as we see retail investors becoming more cautious and going

in hong kong and i'm heidi.omberg markets." >> fall ahead of the government spending plan as seeing short on savings. contrasting and new economy stocks. >> they

in hong kong.reaking news from south korea, the account balance for march coming in at $5.9 billion. that is a narrowing of that balance or surplus we saw in the month of february. we're off about $2.4 billion. we saw imports rise more than exports in the month of march. we have seen korea maintain a surplus for five years now. the reason why we have seen foreign investors piling into the bond market. and we saw foreign reserves $376 billion.er to there could be a fed rate hike possibly in june, that is the fmoc statement we got overnight. we will see how asia is digesting the news so far. we saw the dollar up, the gold down. the treasury bounced back to 2.3%. hardly anything exciting. new zealand shares down 1/10 of 1%. 6888 on the kiwi dollar. the aussie was one of the big ones. we are holding onto those losses. it came down to 1.5% for the aussie dollar. let's see how things are looking in sydney with futures pointing lower, 1/10 of 1%. .7425 is where the aussie stands right now. japan is closed

jiuliana liu in hong kong.be a musician. but, as an 18—year old university student, tragedy struck. she lost her hearing due to a connective tissue disorder, and with it, potentially, her career. now, a decade later, she has three albums under her belt, and tours with a band. how does she do it? the bbc went to find out. # calm, walk, my friend, with me # calm, walk, my friend, with me #toa # calm, walk, my friend, with me # to a place we always dream... music is an expression of the soul. it is like a painting. it is all the memories and stories, and the emotions that you felt at that time, or something you long to feel. i went to college for a vocal music education. i wanted to teach vocaljazz, and in that first year i lost my residual hearing, and was struck from the programme. and to describe it really as anything other than watching myself die, i — i don‘t feel has enough weight to it. i died, i died that day. but i picked up music again, and now i have been performing professionally for about eight years.

yvonne: i am yvonne man in new york -- hong kong.cial times says it involves investment in its comacs aerospace arm, -- has completed the first test of its jet. toyota, bmw, and two other automakers have reached settlements worth $553 million to resolve claims from takata airbag recalls. they have a program to raise participation in the recalls. products have been linked to 17 deaths -- to many deaths worldwide. yvonne: aston martin considering an ipo as early as next year. sources tell us the company is awaiting 2017 results but declines to list in london. in 2015.ent public they traded 14 times earnings. att would value aston martin $3 million. we talked about cars, let's talk about risk aversion. i do not think we are quite over this political storm just yet. look at this chart. you can see where the traders are when it comes to bond markets. they are going long on treasury futures. the price is speculative and they are returning in a big way. we have not seen it go this fast for some time. -- inde in billet building those long po

here in hong kong.e 30 minutes away from asia's first major market betty: it looks -- major market. betty: it looks quite nice, cloudy out there. markets closed in new york unchanged. at the nasdaq did finish off a little higher than the other indexes. i am betty liu in new york. i am yvonne man in hong kong. you are watching daybreak asia. now to first word news with alisa parenti. president trump has fired fbi director james comey on the recommendation of attorney general jeff sessions and his deputy. comey becomes only the second fbi chief in the history of the bureau to be dismissed. he is been leading the investigation into alleged russian meddling in the presidential election and moscow's links to trump aids and associates. has claimed victory in south korea. rule had ended with the impeachment. votes counted, moon has 41% of support. moon campaigned against a tough line on korea's sprawling conglomerates, and a softer approach to north korea. walmart is said to be ready to million dollars to reso

-- i wouldn't be spending it on a car park in hong kong.nd a record total per square meter as well. the building covers 2900 square meters and was bought by a local developer, henderson land. it is the first property to go on sale in the central district since the territory was handed back to china in 1997. the demand is also being driven by sky high office rent. 75% higher in hong kong then new york. genie: incredible, paved in diamonds. thank you, stephen carroll. it's time for the press review. ♪ me ton sergeant is with take a look at what the papers have been saying. you're starting with the papers in france looking at the new cabinet that was announced yesterday. , 11 women.rs, 11 men they come from left, right and center. the news calls it a government in working order. several papers are heralding this government as being quite balanced. paper says it shakes up divisions we are used to seeing in french politics. in thear response catholic paper. they call it a balanced government. a balance that macron worked really hard to achieve.

here‘s our hong kong correspondent, juliana liu, with more.is year is hugely significant for hong kong because the first ofjuly marks 20 years since the city was returned to china after more than 150 years as a british economy, and as part of a proposed celebration, the planned celebrations for the first ofjuly, xijinping is widely celebrations for the first ofjuly, xi jinping is widely expected to be visiting. he is also expected to be swearing in the incoming chief executive, kerry lam. these events tend to happen on the first ofjuly, which is a public holiday, and in the afternoon, for years now, people gather in victoria park to start a match throughout the city to demand greater democratic rights. this march has been happening really than 20 years, and as part of those preparations, the organisers of the rally normally apply for permission to start the rally at victoria park, specifically on the football pitches in the park that can handle huge numbers of people, and the organisers have said to reporters in a press release that, for the f

in hong kong.e counting down to the china open. 11:29 in sydney where we are awaiting the data from the meeting, where policy was held unchanged. i'm haidi lun. this is "bloomberg markets: asia." ahead of the rba minutes, take a look at this chart. we have seen a gain when it comes to the aussie dollar overnight, along with commodities currencies getting a boost from the oil story. russianthe saudi and oil ministers seemingly coming together in a cohesive statement yesterday in beijing, saying they are willing to go another bye months to cut supply $1.8 million -- 1.8 million barrels a day. we have the vienna meeting of opec next week. this is what we are seeing. if you are asking hedge funds, they are not looking positive when it comes to the aussie dollar. for a sixth consecutive week.if you want to look at fundamentals , the uncertainties over china, industrial production slowing, industrial commodities downturn starting with the price downturn in china, so the pmi is falling over a bit as well,

kong, and if i am in hong 11 a.m. in sydney and 9 p.m. in new york. i'm haidi lun. rishaad: i rishaad salamat from bloomberg asia headquarters. this is "bloomberg markets: asia." ♪ haidi: earnings for the key drivers of asia returns from the mayday breaks, japanese stocks seeking to extend monday's game. rishaad: president trump telling bloomberg he's prepared to break up the banks to separate consumer and investment operations. australian bank irving -- earnings rising on a strong domestic performance, but a still slight miss underestimates. rishaad: steven mnuchin denying plans to restrict foreign investment in the u.s., saying national security always comes first. about half an hour before the trading day gets underway. just taking a look at what's been going on. china under pressure. the shanghai composite. let's go to the bloomberg terminal. showing -- it is showing china's a run of essentially a solid economic indicators, moving to consolation for the shaky financial market we saw last month. we saw the tightening in money market liquidities from autumn last y

hsbc opening in hong kong.uld signal downward pressure because it seems investors are upset there was not announced a further by back from hsbc. amorepacific in korea showing a significant rally. equities booking that downward trend we have seen across most of the rest of the region. yeah, juliette, thank you so much. let us get a quick check of the latest business flash headlines read barclays has completed the sale of this egyptian unit to a bank. the 1500 employees and 56 branches in cities such as alexandria, and have been transferred to the moroccan-owned bank. it has been in egypt since 1864 and it was valued by some at half $1 billion. barclays recently reported first quarter profits that more than doubled year on year. yousef: in an effort to boost -- saudi arabia's fannie mae equivalent has started approaching banks to buy their portfolios. we will have about $1.3 billion of its own capital and will work with the government's investment fund to invest another $1.3 billion. saudi arabia has one of the w

yvonne man inm hong kong.aft maker steps upsets challenged to airbus and boeing today. the c 919 you are taking a look at right now is slated to go head-to-head with the boeing 737 and airbus 320 series. let's bring in bruce einhorn. it poetically, they call it the flower of the industry. could it loss him and breakup the monopoly -- two wobbly airbus and boeing have had for decades? duopoly airbus and boeing have had for decades question mark >> it cut, but this is a long-term play. this is the first -- it could, but this is a long-term play. this is the first test flight. we are looking at a 10-15 your program. -- year program. and it has been delayed twice. it was supposed to happen a couple of years ago. bring up thisto great diagram of all the different parts makers who made 919.e c they are from all over the world. that madee companies parts are in the u.s., ge, honeywell. this is very different they and what the japanese did when they were building airplanes. it was all japanese. why are they doing it t

rise from around the 10th of 1%, hong kong stock look ok.t's pretty flat at the moment after hitting a fresh record high for a seventh consecutive session earlier in the day despite but we saw in the north over the weekend. a lot of the commodity-based markets under pressure. s&p eight 600 is down. korean defense stocks have been in play after the north five, the tech is up by on the 2%. mighturces are saying it up its stake in video, but note confirmation from softbank. check out ever grant. no real news, but we are seeing hong kong developers gain significantly. this stock has doubled since early may and it means its founder has seen its fortune go up by $10 billion. let's have a look at some of the hong kong developers when you chart their moves. china ever grant has been the 31% sinceer for about we saw its moves around march 31. a lot of analysts say it's not sustainable because we know there is a digital bubbles in the hong kong property market. jpmorgan says in a note on friday that ever grant business is not sustainable. manus >> tha

viewers in asia can watch the programme at 9:30pm here in singapore and hong kong and 7pm in mumbai.l of those tensions and concerns around the missile launch in north korea. that is it. thanks for watching. the top stories this hour. the japanese government has condemned north korea's latest ballistic missile test. around two thousand people are still thought to be trapped in the southern philippine city of marawi as troops battle militants linked to the islamic state group. both the conservatives and labour party, have been focusing on national security today in the election campaign. the home secretary amber rudd, reaffirmed that the conservatives would set up a commission to promote british values and tackle extremism, while labour wants to recruit 1,000 security experts in addition to 10,000 extra police. here's our political correspondent alex forsyth. in the aftermath of such an atrocity, inevitable questions about how to stop something like this happening again. the actions of this man, salman abedi, forced a pause in the election campaign. now preventing others like him is p

shery: i am in hong kong. we are seeing investors be more conscious ahead of the fed meeting and also the jobs report out of the u.s.. a few markets are closed in asia. hong kong, japan, and south korea. for those that are trading, take a look at this function on the bloomberg. you can see australia is leading the declines. remember, only after seven days of rallies for the australian market. we are seeing the aussie dollar lose point for mark -- .4%. japan is on holiday for the -- rest of the week. just to keep -- -- you have to keep an i on the japanese yen. treasuries not trading in asia today. japan is closed. yields fell overnight. we are seeing the sovereign debt market across asia. we are also seeing oil rebounds after a drop to its lowest in a week. yousef: absolutely. in this part of the world, they kingdom was holding a wide ranging interview. a rare conversation with the deputy crown prince. he has been spearheading vision 2030. let me run you through some of the key points. this is critical for inv

hong kong time.y heard a loud banging or possible explosion as the performance had just completed and people were filing out of manchester arena. explosione saying the was not in the concert area, but was as people were leaving the arena. the arena has been sealed off by police. recapping, police have confirmed 19 deaths come a 50 others injured, and they are treating this as a possible terrorist incident until they know otherwise. the british transport police in addition saying emergency services are at the scene and we are working to establish more information regarding this explosion. will provide further updates as soon as possible. we are monitoring all the reports coming in. this is a fluid situation and we will be watching the market reaction throughout the morning. a bit sanguine in the early going. i just came off bloomberg radio chris conwayed to saying the market reaction was muted to start, but as we get more confirmation that this is a possible terrorist attack, we could see more market

in hong kong.t is the world's most indebted developer, but closed 23% higher this year. this despite j.p. morgan saying there business is not sustainable. the china and i is at the highest level since july 2015. competition and $7 billion of debt are catching up with reliance communications.the stock fell to a netrd low on the back of a loss on the signs it is failing to meet obligations. it is in talks to sell business. mitsubishi is cranking up drives to boost foreign currency deposits as it looks to mitigate rising costs of lending overseas expansion. biggest bank is expanding the overseas lending to earn higher margins with negative rates zapping profitability of domestic loans. thesesaw from some of macro indicators that came out this morning, japan remains very much mired in a slump, despite years of monetary and fiscal stimulus. big companies have yet to see a breakthrough.i want to talk about that was the former ceo of sony, nobuyuki idei, who now heads up quantum leap. this company tries t

>> it is noon in hong kong. end theific market week on a loser. near august, and iron ore near the 50's. chinese equities and further -- equities head on a losing streak. president trump met australia's prime minister in new york, calling the call in january fake news. malcolm turnbull is borrowing some of trump's rhetoric by promising and australia first budget next week. bhp under yet more pressure with a fresh set of activist demands. this time the world's best performing hedge fund added its ofce to call for the soul u.s. oil management. -- the cell of u.s. oil management. global news 24 hours a day powered by 2600 journalists and analysts in more than 120 countries. let's take a look at the markets. hong kong and china are closed for lunch. down over 1.4%. hour, time for the best of "best of bloomberg markets: middle east." ♪ yousef: welcome to "best of bloomberg markets: middle east." the major stories driving the headlines in the region this week. berling to standby air after reported soaring operating losses and its other italian partner g

snapping a two-day slide, particularly in hong kong.se shares hitting the highest in almost two years and the cost be in south korea hitting a fresh record. were also seeing the korean won as the best-performing major currency against the dollar. if you look at the bloomberg dollar index, at its lowest since november after the fed minutes and the euro has been the biggest g10 beneficiary from the dollar weakness in the session. even with the june hike near, investors seem perhaps less hawkish, the attention turning june. rate hike beyond some showing concern that slowing inflation. solid reaction in the treasury market, the 10-year gilts robbing yield dropping three basis points in yesterday's session but holding steady at 2.25% today. it looked like where many get that runoff later this year, but given the reaction in the market, investors perhaps seeing it being very gradual. you can see it in the curve flattening. not seeing that rise in long-term deals that you might expect had of been many concerns about an aggressive balance sheet

i'm shery ahn in hong kong. betty: i am betty liu in new york. of the business headlines. saudi aramco said to be planning deals with at least 10 u.s. companies. ,hey include ge and halliburton and we are told they will be signed on saturday. saudi arabia planning to sell up to 5% of aramco sometime next year. the kingdom also aims to announce as much as $40 billion worth of investment in the u.s. betty: steal posted a surprise fourth-quarter loss after taking a $.5 billion charge related to disclosure of its british pension plan. a shortfall of $113 million compares with estimates of $154 million profit. even so, an improvement on the previous year's loss of $420 million. the deal brings it closer to a possible european joint venture. another company is said to be under pressure from two of the world's biggest asset managers to buy back the stake in a singapore food company it sold them a year ago. sources say blackstone and lgt capital partners spent about $50 million buying 60% of the company from stan chart private equity. now they want their

daivd: hong kong stock fortunes are tied to tencent like never before. right, when you look across markets, this tuesday's session, a cloud over events in london. gmm ,ook at my have a look at all markets, flat. japanese yen, flat and has given up most earlier strength. the bid we aret getting as far as the bond markets are concerned, green there, two point 24% on the u.s. 10 year bond. not to trivialize what happen in the u.k., but again, it seems that investors are just looking past events there. comes yeah, but when it to the pound, the sterling is giving up that strength, slipping in early asian trading. , thea look at my bloomberg function. moves follow that drop we saw yesterday after the u.k. threatened to walk away talks on it's the parts are from the eu, so being exacerbated. let's talk about this developing story that happened overnight in europe. officersterrorism holding an emergency meeting after 19 people were killed in an explosion at a music concert in manchester. we have stephen engle monitoring the story and the latest headlines. >>

hong kong gain a center of the activity.u said that pivoting and expanding the business by 2%. >> they happen eldin up there for a number of years, paying off this quarter. anna: socgen, let's turn our attention to that story. the libya headlines, what story is there because it was not expected we would get that today. notight, the market was expecting that much of a top up to the legal provisions. they were supposed to go to court this week. kind of a last middle -- last-minute settlement. i think it is little bit surprising. you had goldman had a similar issue with the libyan investing authority, that case got thrown out. but you see socgen settling when it was supposed to go to court shortly. manus: they missed it in terms of the numbers. libya was a slight curveball to the market. another 334 provision of legal numbers were not spectacular, were they? >> know, and after bnp had such a good quarter yesterday, that may have raised expectations for socgen, they did not have quite the trading jump that bnp did. libya [inaudi

shery: i am shery ahn in hong kong.icy unchanged and the markets are expecting similar decisions from the fed in the next couple of days. a look at the likely fx of the currency and equity markets in light of those meetings and high intentions in korea. equity strategist at bank of america merrill lynch. today.ou for joining us i think the big news for markets is coming out of the u.s. with congress just agreeing on a tentative spending deal. theaw some consolidation in japanese equity markets over the past few months. will this be a game changer? this morning's news in itself would not probably change the but from here, the dollar-yen and japanese equity should arise gain based on divergence and that are economic data for the current quota. , the market is watching the north korean situation quite closely. that is one big risk for the moment. we are now seeing the dollar-yen gaining ground on the news out of the congress in the u.s. if you took it -- take a look at the bloomberg, you can see the dollar-yen is getting c

i'm yvonne man in hong kong.k check of the business flash headlines, told ang has been investment group made up of goldman sachs and pagoda has agreed to buy australian health care company icon cancer care. they will pay more than $1 billion australia, evan hundred sd billion dollars u.s. to close the deal. the deal may be made sometime this week. yvonne: audi has reached an agreement with dealers in china, and they will dispute -- ending a dispute with volkswagen. they may china audis with the saw group. their profits could be under threat. the deal now reached means any seic produced cars will be distributed through the existing sales network. and the alien series newest on it has the top spot, toppling guardians of the galaxy. the 20th century fox movie made his debut with sales in $36 billion according to estimates from comscore. guardians of the galaxy can second. then everything everything and gary -- tyree of a win begin the long haul. looking at trade, canada is confident of a good outcome in negotiations