morning is rain forest is shared by 3 countries indonesia malaysia and bernanke it's home to hundreds of endemic plants and animals are rich in unique habitat that is slowly dying its abundant resources overexploited its right woods decimated today less than half the trees remain. yet the procession of trucks never ends the forest tries to slow that progress as best as it can. but here wood to means money to trucks stop at nothing to get that cargo to ports and big cities 7 days a week. each journey is fruitless challenges adroitness overcoming them and them a salary of about $550.00 a month. to. use it has now been carrying this house on the. back of his truck for 7 hours he's tired but remains focused. lisa league. play upon arrival they have to negotiate a difficult unloading. with no crane to help you save on the low business rely on that own resumes on us. for. the fleet this embankment under the bulldozer acts as an unloaded dock. that. they can buy get. out of the lease almost. like this is that. it wasn't what i. was putting. the houses johnny is still not. it's headed for the

you look at india, indonesia, malaysia you know india is not selling off in the right way because theysame anchorause they have an of stability, and that is the renminbi. anchor ofed is an stability and it is act in that way. the weaker kinds of asian currencies are much more stable than currencies around the rest of the world. just compare themselves to the dollar and they are getting completely crushed. --se other asian currencies doing fantastically well. 7%, korea downwn 6%. that is tiny compared to those others. nejra: david bloom, you have been our anchor of stability this hour. global head of fx strategy from hsbc. the european open is up next. futures point.s. two lower opens today. this is bloomberg. ♪ ?w?uhió'ñó >> good morning. welcome to bloomberg markets, the european open. i'm anna edwards alongside matt miller in berlin. matt: today the markets say that ain't no v, baby. hsbc's david bloom lends his voice to the people cautioning a quick recovery. futures pointing down. the cac trade is an hour

lowest on record in indonesia, malaysia, and the philippines.f play.he state s&p futures down by 0.9%. let us take a quick look at the bond market. oil giving back on its gains from last week. you have seen the rollover. what happens next? bonds and equity markets. to have you with us. we need to reprice or reengage our brains on the risks. the ultimate punishment is on the table according to the president. is controlled, do you go straight to long dollar? watchs it is hard to stocks the dollar remaining strong well we have this risk aversion out there. sense thee relationship between risk aversion and strong dollar remains so strong. the question in anybody's mind this is at what point you might get a weaker yuan. we are learning as we go along. the yuan has been such a beacon of stability. the benefits of having a stable currency for china have been pretty clear. the difference between low and asianate emerging-market currencies, not so much emerging anymore, and the bonds are the ones with higher rates. brazil, south africa, turkey. the indon

plus palm oil is a big contributor to malaysia and indonesia gdp and we speak to go dredge international-- godreg internationals mistry. this is bloomberg. ♪ yvonne: two things to watch cuty, malaysia expecting to rates and indonesia are releasing its first quarter gdp whether economist forecasting growth of 4%, the slowest pace we have seen since 2005. palm oil big contributor to both of those economies. what is the outlook? =--s bring in go dredge godrej international director mistry. he correctly predicted the slump. great to get your insights on the vegetable oil market. you mentioned before, cruel prices for palm oil. telus, how low can prices still go and how long can they stay there before we see recovery? -- tell us. >> short. i used the word cruel, because -- sure. as of the 13th of january we were in a bull market and prices per ton.cess of 3100 have broken the 2000 barrier. and we are now getting very close to what i believe is the cost of production, 1800 ring gets. eight cruel season for palm oil. it has come about for two reasons. , the medical emergency the whole world is

around 900000 now live in neighboring bangladesh others have sought refuge in india pakistan indonesia and malaysia but their host countries are often anything but welcoming. abu says ics desperate journey began in 2014 over nice you had to flee his fishing village. together with thousands of other rohingya muslims he fled the military's brutal persecution in his home country of me and maher. a lot about it that they came to burn down our houses we ran for our lives then a fire engine came and we thought it would put out the fire instead it sprayed gasoline onto the fire and the entire village burst into flames. eventually ended up in the malaysian capital of kuala lumpur many who traveled with him on the secret smuggling routes died along the way at liberty we lost everything in our homes our land our identity now we are stuck in our country and we know nothing about. i mean the north you know it's your money. nearly 180000 refugees and asylum seekers live in malaysia most of the. my rowing go for decades the country has refused to sign the un geneva convention of 951 for malaysia's refugees that

usageian markets and the across our markets being indonesia, malaysia and the philippines, we have deeph the local content partners in that region. there certainly aren't any plans to exit any other markets. havinga: you talk about supportive shareholders, and your shareholders include mmc, yvonne talked about fidelity, how do you approach them for additional capital? we are in regular conversations with the shareholders. we are a private company. so i don't think they want me to talk in detail about what those conversations are two in audience as wide as yours. haslinda: is there a concern you could go into liquidation? the liquidation was sad to see. quickly theyth how made the decision to walk away. it obviously did not end the way they wanted it to. talks monthsose ago. we thought there was an opportunity for us to acquire that business. put the pace at which they made the decision made it possible. i think it took a lot of people by surprise. perspective, the aim was to try to help consolidate that market and provide customers with ongoing continuity. of theworking with each conten

that particular as this trade war develop you are seeing companies move out of china into indonesia and malaysia philippines you're going to see that speed up now a lot of those companies are going to be china owned companies that are doing it so it really doesn't change the bottom line totally but you're going to see a different global economic atmosphere after this is over and it's not always going to be to china's benefit george galloway let me come back to you it does seem and the reason i explained that at the beginning of my show that the united states has always had an enemy sort of speak or different little cold wars is because they seem almost necessary your country the brits for many years were in that same situation seems like we've kind of taken over that mantle now am i wrong. no you're right of course not all are benefits for the military industrial complex all of having an enemy but i don't see donald trump in quite that way i have a feeling the crusade he's on will not last longer than november and. if he is reelected then he will very firmly quietly and maybe turn them back down

record lows for a number of economies, indonesia, malaysia, and the philippines.ghing on sentiment. and south korea falling to the lowest since genera, 2009. -- since january, 2009. u.s. futures extending the problem since we saw on friday. when it comes to the offshore yuan, further pressure against that u.s. dollar, although paring back some earlier declines. this is the third session of declines against the u.s. dollar as we continue to see that risk off sentiment spread across asia. the japanese yen is higher against the u.s. dollar, the safe haven demand being felt across asset. market the japanese closed today on greenery day, the same for china is on holiday. in the meantime we are seeing this risk off sentiment spread across asia. yes, the fragility of sentiment playing through. we will get more analysis in the next hour. the head of greater china investments will be with us to give and outlook as we see a difficult start after what was a stellar april. plus, ubs wealth management chief china economist is with us , thoughchina open in china's market are no

keep in mind, most southeast asia markets are closed here today, india, indonesia, malaysia and singapore is what you're seeing broadly here when it comes to china, hong kong. still lower by 146 for the hang seng. off some of the lows here. we see losses for the philippine index as the economy contracts, first quarter g.d.p. numbers a shocker here. contracting for the first time since 1998 on these shutdowns and we heard from the planning that the welcomedown was a great cost to the economy. here's some movers we're looking out for, budweiser brewing posting a loss as the virus shut restaurants and bars in china. we're watching of course for and kong exchanges, b.n.a. nintendo reporting earnings. anyone ten toe a work from home types benefiting from people working from home. korea air shares are flying. close to 3%. off from the initial spike. there's reports saying that they're hiring credit suisse to sell some of their businesses, including in-flight food and the like as they face a liquidity shortage in this outbreak. they have tapped into the export-import bank of korea to provide aid

these several areas the disease very rapidly scattered into such widely separated places as malaysia, indonesia, india, guam and the philippines. the first cases, also in late may, the disease was reported as far away as australia and four through san francisco. the first appearance of the disease in the united states was on june the 2nd. this date is important because it means only a short six weeks from the time the first cases were reported in china there, kurd in the united states. that indicates the great rapidity with influenza and influence-like diseases can spread over the world. by mid june, this disease had practically circled the globe, including southeast asia, southwest asia, the middle east, europe, australia and north america. late in june, the disease made its appearance and north africa and produced by the muslims returning from their pilgrimages to. so finally, in late july, and an early july, the disease made its appearance in chile, south america. so, in three short months every continent on the globe had been involved in this great pandemic. >> doctor crap tree, it had been

of course and the great surprises here and wet weather anywhere from the philippines through malaysia indonesia out that wanted to shout study a possibility one of those ones are those showers just pushing up towards malaysia pushing up into good parts of thailand from time to time and i shall is just not in the way a little further north woods and west was we will see some showers there into the eastern side of the but have been go much of injuries dry and sunny but showers for the northeast. or are. recapping our top stories for you so far this half hour an experimental antiviral drug has been authorized by the u.s. food and drug administration for emergency use in treating coronavirus patients and a half 1000000 vials of the drug gram disappear will be distributed to hospitals as of monday. north korean state media says kim jong un has made his 1st public appearance in almost 3 weeks these images reportedly showing the leader opening a fertilizer factory rumors have been going around about his health and even his possible death. assault style rifles are being immediately banned in canada in

of course and the great surprises here and wet weather anywhere from the philippines through malaysia indonesia to pat wanted to showers that a possibility one of those ones are those showers just pushing up towards malaysia pushing up into good parts of thailand from time to time and i showers just not in the way a little further north woods and west was we will see some showers there into the eastern side of the by a bingo much of injuries dry and sunny but showers for the northeast. in countries like mine people have been killed too because we in the united states have privatized the ultimate public function or this was a deal with saudi arabia things were done differently saudis other arabs when they came to britain for be all to help the path of alms deals you know you will rumsfeld was meeting saddam isn't that interesting there are a shadow on al-jazeera. world. welcome back you're watching al-jazeera i'm peter double your top stories an experimental antiviral drug has been authorized by the u.s. food and drug administration for emergency use in treating coronavirus patients 1500000 vial

towards the andaman sea southern parts of the gold and then the usual showers through much of malaysia indonesia not bad but want to heat of the day shells just showing up here as we go on through the coming days some showers longer spells of rain still showing up into the southeast of australia but same life the weather making its way across some parts of the way pushing right across south australia and ice now going to make his way into the southeast and cool the winds gusting in excess of 100 kilometers per hour for some across south australia through wednesday the wetter weather's making its way down across the southeast as into the to the northeast of new south wales not too far from byron bay 79 millimeters of rain in 24 hours fun and dry here as you go on through friday blustery showers continue to roll through the bites heading on to tasmania and victoria. but. as italy went into lockdown people in power are asked to filmmakers to document the effects on ordinary people from the immense suffering and loss the forgotten abandoned or exploited to sing a longs every day heroes and heartwarm

seasonal rain is pulsing and it's coming back again for the end of the week widespread shastra malaysia indonesia but the concentrations further north and it was so this is a potential developing system tropical depression that might head into the middle of the philippines there's one here coming into southern buyback gold as well on the coast daily shasta exist in sumatra singapore kuala lumpur and up into southeast asia as well which is what you might expect for india and pakistan expect more shows in the north sea in developing this blue dots there but of course we're still looking at rising heat have the monsoon. on account of the cost the world's poorest nations going to definitely. a mythology to fight the probe of arms pandemic but not from private investors asia's god did the street sheds jobs and the surreal life in tech scrapping for a share of indonesia's franking. counter the cost on al-jazeera. play an important role in checking it when. ringback you're watching it is either a reminder of the top stories this hour france has ended its 8 week lockdown people are allowed to return to s

season rain is pulsing and it's coming back again for the end of the week widespread shastra malaysia indonesia but the concentrations further north and it was so this is a potential developing system shopko depression that might head into the middle of the philippines there's one here coming into the season by a backdoor as well on the coast daily shasta exist in sumatra singapore kuala lumpur and up into southeast asia as well which is what you might expect for the near in pakistan expect more shows in the north sea and thriving is blue dots there but of course we're still looking at rising heat have the monsoon. talk to al-jazeera we ask what will force were when you saw that document for the 1st story we listen to after the war saying you europeans go build united states of you know what we will not be with you we meet with global news makers and talk about the stories that matter on al-jazeera every generation has a higher purpose. ours is to say how. well again this is al jazeera let's remind you of the main news this hour france is ending its 8 week lockdown with people now allowed to re

the central banks in indonesia and malaysia and thailand will be cutting rates further?malaysia for bn am. for b.i., when they chose not to cut rates, they look for room to ease monetary policy. that is subject to stability. there's a sense globally and regionally, in terms of monetary policy, it could be fairly limited in the near term. holdsrall risk sentiment and the other asian currencies remain stable, they can go further. they will cut down to 1.5%. they have another 50 basis points to go. that's about it for this year. thank you for your insight. reviewsp, india domestic slide. that's next. this is bloomberg. ♪ haslinda: let's do a quick check of the latest business flash headlines. nissan and renault are shelving plans for a full merger and will strengthen their alliance in other ways. reuters says the two companies will announce restructuring plans this week. deep cost cuts may affect thousands. forecasting a loss as the coronavirus strangled demand. the carrier says it will post an underlying lost. restructuring and fuel hedge costs. chinese food delivery compa

relations with other countries that are countries that abide by the rules of the road, if you well, malaysia, indonesia, vietnam, northern africa? i think it is important for us to establish more economic links throughout the world. china is doing that aggressively. we are not doing as well as we might, i think corporate leaders and governors can do that. i think senators and congresspeople are wise to go on trips and meet with leaders of other countries and talk about the values that we share, promote those values and look for economic opportunities for us to be investing in other parts of the world. my colleagues created legislation called the build act, which provides funding for enterprises to invest in places like africa or the subcontinent. that is a good thing, those are the kind of things we can do, even if the president is less inclined in those regards. tose are things we can do establish stronger links around the world. because if we do not play a role around the world, bad things are going to happen. they will suck us and or make our products less competitive or make us unable to compete, i

go ahead and reclaim so that, for instance, you have taiwan; malaysia, indonesia, philippines do thee thing and that would show china that actions are counterproductive. also we need to be a bit more aggressive in freedom of navigation exercises an we need to tell the chinese in public as well as private they may not interfere with u.s. navy and u.s. air force in global commons because they've been picking up danger -- dangerous intercepts in the last few months. maria: we will talk with you soon, gordon. gordon: thanks, maria. maria: we will be right back. maria: welcome back, markets are pointing to a big rally this morning taking a look at the market where we stand, we are expecting the dow to extend yesterday's big rally, dow industrials up and nasdaq up 76; all major averages finishing sharply higher, investors weighing tensions between washington and beijing as well as hopes of covid-19 amidst all of the reopenings, joining us capital ceo leo kelly, great to have you this morning. thanks for being here. how do you allocate capital during this environment right now? >> well, mar

indonesia has a new down -- jump with deaths approaching 1000. malaysia had its.arge-scale gatherings remain banned. south korea is featuring a jump in new cases after nightclubs were allowed to reopen. australia's budget deficit will blowout 7.2% of gdp this year. revenue collapses and spending soars. this is the budget is taking a series of staggering blows and revenues are expected to fall 6% from the december forecast and 16% next year. china is ready to introduce more powerful stimulus to counter the threat the virus poses to the economy. the pboc said it will pay even more attention to jobs and growth. they said avoiding excess liquidity floating the economy is missing. it was in the previous report in the fourth quarter of last year. hong kong police arrested 10 people and fired propellant sprays as people attempted to rally in calhoun. together in defiance of social distancing measures. local media said police fired pepper balls. two teenagers needed medical attention. global news 24 hours a day on air and on quicktake by bloomberg, powered by more than 27

malaysia. but also we've seen problems with vietnam, indonesia and the philippines.cidents really is troubling because right now you have voices in china saying that they should attack taiwan. so we've got to be very concerned that we've got to deter china, because this could be where history's next great conflict starts. lou: the national security team, gentlemen, is preparing the possibility of creating a new agency, international agency to replace the world health organization and considering, amongst other things, making taiwan a member of the new global health organization to be formed by the trump administration. what would be your best assessment as to what china's reaction would be? bill, first. >> yeah. china -- right now china's engaged in information warfare against the united states. they're stepping up their propaganda, and certainly taiwan is front and center. the taiwan ease were very early to the game in understanding and recognizing the human-to-human spread of the coronavirus, and yet because they were not part of the world health organization, thei

governments are urging vigilance as infection rates show signs of rising pit indonesia has reported a record jump in your cases. malaysias virus restrictions by four weeks ahead of celebration for eid. large-scale gatherings remain banned. south korea is facing a jump in new cases after nightclubs were allowed to reopen. meanwhile, europe continues to emerge from virus lockdowns with governments encouraging people back to work. the u.k. is changing its message from stay-at-home to stay alert, all the critics say that is vague and confusing. infections and russia are rising rapidly, with more than 10,000 new cases reported for the eighth straight day. that takes infections to above 200,000 with almost 2000 deaths. south korea's top trade official has warned that the virus pandemic will hammer exports even harder than the financial crisis did a decade ago. trade and industry ministers told bloomberg conditions are tougher than in 2008 and will prompt a major rethink about global supply chains. korea asment may favor companies look for more secure sourcing of components. global news, 24 hours a day, on air and on quicktake

indonesia has deployed the army to enforce social distancing. almost 350,000 personnel will guard tourist sites and shopping malls. malaysiajump in new infections amid increased testing of migrant workers. thailand is extending their state of emergency to the end of june amid fears of a second wave. a fight between china, the u.s. and canada over huawei reaches court wednesday. at beating an extradition hearing. ontish columbia will rule the detention. if a judge says no, she could be released from house arrest. if not, extradition proceedings will continue. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. >> as we have discussed, sources have told us the trump is considering a range of sanctions on chinese officials on, and financial institutions to crackdown on hong kong. selina wang has more. have we seen any response from beijing yet? we know the talks in the u.s. are ongoing. the treasury department imposing control and raising assets of chinese officials. includemeasure could visa restrictions. a law requires the state department [indiscerni

indonesia has employed the army to enforce social distancing. almost 350,000 personnel will guard public transport, shopping malls and tourist sites. malaysiaaw its biggest jump since april 3 amid increased testing of migrant workers and thailand is extending its state of emergency to the end of june. global news 24 hours a day on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. i am karina mitchell. shery: u.s. stocks closed down from session highs on the potential white house retaliation, highlights into the fragile state of the market. we get the outlook from david. -- consumers to confidence stabilizing, jamie dimon with an about -- optimistic view. this is bloomberg. ♪ >> we have the november election but until november, markets hold. we are seeing impressive performance. there was a chance will have a healthy ipo market. ♪ ♪ haidi: more sides of fertility with u.s. markets. futures are slightly down after the index started with a close below the psychologically key 3000 point level. let's get more insight with david kotok, chairman and cio of cumberland advisors. he join

indonesia reported a record jump in new cases with fatalities approaching 1000. malaysiang its virus restrictions. large-scale gatherings remain band -- banned. jump inrea is facing a cases after nightclubs reopened. australia's budget deficit will blow out -- revenue is collapsing. a series ofas taken staggering blows. revenues are expected to fall 6% this year from the december forecast. 16% next year. the great oil glut of 2020 may have already pete. industry analysis and satellite images to just crude inventories have shrunk recently, having earlier hit record levels. data indicates that supplies are being taken from storage to meet demand from the post lockdown economy. it all points to signs that the oil market may finally be rebalancing. will news, 20 were hours a day -- global news, 24 hours a day, on quicktake and on bloomberg.com. shery: tom mackenzie joins us from beijing. what exactly could this mean? on: the pboc published sunday monetary policy implementation reports. the central bank said that it will pay more attention to .conomic growth and jobs the shutd

malaysia cut its key rate by 50 basis points, the most since 2009. they said the outlook means gloomy. -- remains gloomy. indonesiaad the weakest showing since 2001 and a heavier toll is expected in coming months. india's virus lockdown saw a loss of 120 million jobs last month. global news 24 hours a day on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. i am karina mitchell. this is bloomberg. trump'sore details on plans for phase two of the coronavirus response. and we will speak to the council of the americas vice president eric foreign's worth about the global balance of power. this is bloomberg. ♪ shery: president trump continues to push the theory that the coronavirus originated and escaped from a lab in wuhan. intelligence officials say the evidence is less than definitive review pushes for the reopening of the economy. itthe people will not accept and they should not. we would have a great country. we can't keep it close. doctors say not -- why not close it for a couple of years? some people will be affected, badly, yes, but we have to get

malaysia is inching back to normal with traffic flowing and trains running again after seven weeks of restrictions. indonesiaeports its fewest tourism numbers for a decade. down 96%.hong kong hong kong is aiming to reopen movie theaters this week as restrictions ease. australia expects the coronavirus hit to reduce gdp by quarter,e current wiping the equivalent of $32 billion u.s. from the economy. the treasurer says indicators are going to be considerably worse before improving. retail and hospitality will be the hardest hit. the treasury warning it is a further sign australia is heading for his first recession since 1991. europe's hardest hit nations are certain to ease restrictions with small shops. social distancing measures remain in effect with commuters told to wear face masks. italy is coming back to normal with trains and buses running again after almost nine weeks of lockdown. restaurants and cafes can work again, although only in takeaway mode. global news 24 hours a day on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. this is blo

indonesia has deployed the army to enforce social distancing as clamped downons the reopening of the economy. will crowdsonnel tourist sites. malaysia side's biggest jump in new infection since april 3, amid increased testing of migrant workers. itshailand, it is extending state of emergency until the end of june amidst fears of a second wave. singapore is focusing on jobs and a fourth coronavirus stimulus package. the government says the latest measures are to help businesses counter the fallout from the virus, which will push the deficit to more than 15 percent of gdp, the largest in singapore's history. the new package is the equivalent of 65 billion u.s. dollars, as the economy faces its worst contraction since independence. the three-way fight between china, the u.s. and canada over huawei. at cfo has her first shot beating and tradition hearing. the supreme court will rule on whether her detention meets the key threshold of canadian law. if the judge says no, she could be released from house arrest. proceedingsadition to the u.s. will continue. global news, 24 hours a day, on air and on quick take, powered by more than 2700 jo

stay in malaysia because the central bank is expected to make a bigger than usual cut to its benchmark rate at its meeting today. elsewhere in the region, we are expecting gdp numbers from indonesiau chanana is the lead economist for asia. great to have you with us. we should start on malaysia because we have seen the environment dramatically change since our last meeting in early march. what are you inspecting there? charu: yes, absolutely. and the worst part for malaysia is it is not just the covid crisis that they are dealing with. the very low oil prices are also a big drag on the economy, and their revenue. -- the fiscal measures they can announce to deal with the threat of the covid crisis have been impacted. malaysia has already announced largest fiscal package so far in asia, about 17% of gdp. with oil revenue coming under pressure, this is obviously going to hamper their finances. besides that, we are obviously dealing with a political crisis with a new prime minister at the helm. not ignitings confidence in the foreign investors, so you know, there are multiple problems there, and of course, the central bank has room to go for a bigger cut as is the consensus because it

indonesia, the governor is expected to cut the benchmark rate by about 25 basis points. gains pretty much across the board for singapore, as well as malaysia. rish? rishaad: haslinda, more on donald trump here, escalating his threats against the who, the world health organization, and demanding significant changes to that body. that coming as he has been taking his own precautions against covid-19. let's get that story and more in our first word news with karina. karina: he is largely unproven drug, saying he has been taking it for with 10 days, medicating hydroxychloroquine, despite his own government's saying it could have serious side effects. trump: a lot of good things have come out about the hydroxy. a lot of good things have come out. you would be surprised how many people are taking it, especially the front-line workers, before they catch it. the front-line workers, many are taking it. i happen to be taking it. i am taking it. hydroxychloroquine. right now, yes. a couple of weeks ago, i started taking it. a: in other news, international air travel is back, albeit with baby steps as from thetry reels coronavirus. they opened up trav