i am ramy inocencio in new york.ust after 7:00 here in hong kong, i am shery ahn. we do have central-bank decisions out of korea, singapore, chinese trade data, and the often unpredictable australian jobs numbers. on top of that, we have to digest what happened in the u.s. with president trump's comments. ramy: it is interesting, just as markets were closing, donald trump came out with a that one-two punch, china not labeled a currency manipulator. the 10 year yield and treasuries here, we will be looking ahead to see how it has an impact on asian trading. shery: let's take a look at the market and new zealand. is the only one trading at the moment. we see it falling for a second consecutive session, down to 3/10 of 1%. kiwi dollar has not moved much but it is gaining 2/10 of 1%. not surprising given the weakness in the u.s. dollar. in australia it has been gaining all week. futures looking like this. 0.5%.down we see the aussie dollar up 1/10 of 1%. iron ore dropped to the most in a year. we are seeing pressure on t

this is bloomberg. ♪ ♪ ramy: i am ramy inocencio in new york.idi lun -- indi: i'm haidi lun melbourne. let's get a check of the business flash headlines at this hour. we have the security training company june on trading with a massive ipo ring. --y have shares at $15 84 15.84, that would be 2 billion u.s. dollars from the first offering. they are offering over 100 billion shares, and they are trading on tuesday. this could help guotai junan with a 37% profit fall at the core brokerage business. watching shares of hyundai and kia motors after they announced recalls of 1.2 million u.s. vehicles to check engine assemblies your the andings, hyundai made two 2.4 four cylinder engine could prematurely rest of. -- rust. they would not estimate the cost. haidi: boeing is delivering two 777 jets. they had been destined for turkish and lines, -- airlines, and now they are going to iran air. the first one will be delivered next year under a tentative deal announced in december. boeing declined to comment on the iran air reports. ramy: ford has big ambitio

ramy: i am ramy inocencio in new york.e have said there was caution in the markets expecting janet yellen's speech at the university of michigan. the dollar index calling for a second consecutive session. i have to mention, there is dollar support out there. now you can see in the second bloomberg indicator saying that there's maybe capitulating. it is just turning positive. also, the bloomberg dollar index to 850 and 100 day. is quite important as many asian currency start trading this hour. the korean won weakening for the fifth consecutive session. this will affect with the equity markets also do. pop into my bloomberg terminal. i want to show you how this is been performing. this is world currency ranking. the bottom left of your screen you can see it is down .69%. we also saw what was happening in syria. and now the u.s. is heading into north asia, potentially ratcheting up tensions with north korea and china. happens laterat on this week if there are any developments. actually, i will go to david. shery: let's go to

i am a ramy inocencio in new york.i am shery ahn in new york area you are watching "daybreak asia." let's get first word news. unitedakers want airlines to explain why they dragged a passenger off the plane into cargo. they are trying to contain damage after mobile phones videotaping it went viral. issued a second apology to describe what happened is truly horrific. they recovered somewhat by the close. saudi arabia may support extended oil terms into the second half of the year. riyadh is likely to support action to drain the glut further. it could affect iraq and iran. they want to reduce output by 1.2 billion barrels a day. the cartel is set to meet in vienna next month. turning to the central bank, shifting focus to borrowing costs for mid and low cost funds. now worthd a surge $600 billion, which is more than any output of the malaysian do and other economies combined. of that, $466 billion are due this year. growing, that it is about to change for china's under pressure developers. a surge in property markets mea

ramy: i am ramy inocencio.t the business flash headlines, guotai junan has confirmed it is pricing its new shares at $15.80 hong kong each. the shanghai-based company is offering just over one billion shares would start trading on tuesday. this could help guotai junan recover from last year's 37% proper -- profit fall. shery: we are watching shares of hyundai motors and tia as they announced a recall of 1.2 million u.s. vehicles. the bearings between 2 and 2.4 four cylinder engines could wear, leading to stalling. they will replace the engine if necessary. neither company would estimate the potential cost. ramy: jpmorgan said home prices in hong kong are close to a peak and unsustainable. the bank's asia-pacific equity unit said prices have out sustained the growth since 2009 and any shock could trigger a tightening of the system and increasing borrowing cost. they are using all of their assets as well as leveraging their parents' homes as collateral. think earnings and market direction will be a big focus in t

i am amy inocencio. this is bloomberg.alking, samsung first quarter results beat expectations. there are some clouds on the horizon, as we mentioned, particularly in the structure of the country. rosalind chin has the numbers. go through the headlines we have seen over the last half hour. atalind: we have net income about $6.7 billion against estimates of $6.6 billion. operating profit, more or less in line with what they had announced earlier in the month. $8.8 billion. billion.44.9 doing a little better there. down, wrapped up 6.3 trillion. yes, clouds on the horizon. the company saying they expect market competition in mobile to intensify in second quarter. second half, sorry. second quarter, they do see there and divisions but could be trouble for long-term divisions. they expect assets to increase significantly. that could be because generally chips are going well. just given what they have been through with the note seven debacle and the trial still undergoing now. a lot of questions about the restructuring process.

we have ramy inocencio in palm beach. thewere there to cover china-u.s. meeting but events of taken a different turn. what you hearing about the airstrikes? aret is interesting, we seeing the lines develop as you are seeing them as well. what we did realize here is that this was obviously something well planned in advance and happening while donald trump was having dinner with president xi jinping of china. while this was happening, this was happening in the middle east. that is one thing to take note of. hours before donald trump met xi jinping he spoke with reporters and implied that something very well could happen. i want to read this to you. things,he is running talking about bashar al-assad in syria, and said something should happen. this is just a few hours ago before these strikes happened. this was well planned in advance. to recap what we do know now, president donald trump confirming he did order this attack on syria on one syrian airfield. hangars have been targeted and destroyed their. he said syria ignored u.n. security warnings because of t

haidi: thank you for that ramy inocencio for us in new york.counting down to the open up markets in hong kong. we are minutes away. take a look at the premarket session. .05% when it comes to the hang seng. we have a story about beijing's cityto build the new york to washington. we saw some of these stocks in building,struction, jumping close to 40%. bmg court -- t be bbmg corp. is starting to spike investment. we will look at production cost. this is bloomberg. ♪ haidi: it is 9:29 a.m. in hong kong. markets are coming back online after two days of holidays. hong kong coming back after being closed yesterday. we are seeing an upside when it comes to the premarket session. joining in on a rally we are seeing across area -- asia, rebounding from yesterday's losses. we are taking a look in particular when it comes to as oe's and divination -- soeed's and dividend yielding. take a look at this chart. you do not associate this with the chinese market, it is a more conservative market when it comes to dividend returns. they have been faring better in

yvonne: ramy inocencio on caterpillar.ar is doing well in yvonne: asian market set to extend gains. that euro hangs on to its biggest advance since june. he pboc wants to control asset bubbles. yvonne: sansone's new phone suffers troubles. tinted screens and dodgy wi-fi. toty: north korea threatens attack an american war threat -- war ship. yvonne: this is the second hour of "daybreak asia." in hong kong. in newi am betty liu york. it is just after it :00 p.m. we had a big rally in the u.s. and we had financials leading the way. looking quickly at the open here in japan, looks like it is opening slightly in the negative. certainly some other factors to watch in asia aside from lingering risk of fact from the french collection -- election. yvonne: they're waiting for some sort of tax reform coming out by the trump administration by wednesday. officials are saying we could see trump cut the corporate tax rate to 50%, what he promised during his campaign. also, north korean concerns as well. we could be seeing geopolitical te

ramy inocencio on the electric vehicle company.dealmakers jumping ship, and what does this mean for m&a? find out in just moments. this is bloomberg. ♪ i am yvonne man in hong kong. this is "daybreak asia." >> i am betty liu in new york. kkr is taking a $250 million vietnamese company, $18 billion meat industry for masan group. the producer holds less than 1% of the market share. >> the merger that created the uae's largest lender was -- as firstnday is abu dhabi bank began trading. it has total assets of $180 billion. that makes it the second-biggest lender in the gulf cooperation council the stock rose 1.5% with 3.5 million shares changing hands. group one of five potential suitors who placed a h nordea bank. offers will be re-feud -- reviewed. in 2015, the eu ordered the h to sell the blank -- bank by february of next year. i have to get my german on. >> that was a tough one. let's talk more about china. traders have been jumping ship for smaller funds in search of lucrative deals and pay packets. banks are facing a test to reta

we got the latest from ramy inocencio in florida.amy: it strikes me as really interesting i have to say first off that this billionaire businessman donald trump and novice politician as we know is meeting someone who is quite the opposite, a very seasoned politician but is now pushing back against luxury in china. what ties them of course is money and that is one of the , things we must talk about. one of the big issues is jobs. for example donald trump over , the campaign trail has been saying that china has been stealing american jobs and taking them over to china. that is a quote, of course. another interesting topic we need to be talking about is currency manipulation. china of course has been trying to figure out where it stands in terms of the u.n. basket of currencies and the dollar. the u.s. and donald trump said it is potentially a currency manipulator. it has not gone so far as to say that. one final topic the gentleman will be talking about is the u.s. tried deficit, or if you look at it from the chinese side, the chinese

shery: ramy inocencio, thank you for staying with us from florida there.ning us via phone from , ajing is randall phillips chief are presented in china and now with the investigation from minsk group. thank you for talking to us. let us discuss the situation there in syria and what does this mean for diplomacy in the region as we see more confrontational tones coming out of russia? randall: thank you very much. i think certainly this response by the u.s., very proportional response to the chemical attack. for the most part, in the region, it will be seen as something that was indeed proportional and something that will receive support, but certainly a lot of eyes will turn to what does this mean for north korea? i think that is one of the implicit regional issues that will come out of this of the president showing that the ability to respond and respond quickly and proportionately to the situation in syria, what implications does that hold for north korea? that will be some of the questions that come out of this. shery: -- david: you spent 30 years with th

joining us from palm beach is ramy inocencio.ell us what is happening now in the mood you are feeling this morning. beach.o from palm it is interesting to be a fly on the wall. the presidents and their entourages sat down to dinner. it started 30 minutes ago. when it comes down to the substantive part, today is hello, tomorrow will be the big content, they will talk about jobs. donald trump has said china has a stolen u.s. jobs over the past few decades and he once to -- wants to right that. i want to dive into the bloomberg terminal. on the right side of your screen you can see the blue line chart u.n. has been range bound since the start of this year, trading 6.8, 6.9. the forex reserves falling to $3 trillion or so. you can see they are trying to prop up the yuan. take a listen. >> for the last year, china has been trying to prevent the devaluation, to support the renminbi. it makes it difficult to look at the current situation and reach a conclusion that there is currency manipulation. clearly, there is a transition underway

we got the latest from ramy inocencio in florida.e as interesting that this billionaire businessman and novice politician is meeting someone , a is quite the opposite seasoned the pushing back against luxury in china. one of the big issues is jobs. sayingtrump has been american been stealing jobs and taking them to china. another interesting topic is currency manipulation. been trying to figure out where it stands in terms of a basket of currencies and the dollar. president trump says it is potentially a currency manipulator. is the u.s.pic trade deficit, or the chinese trade surplus. in 2016 wasdollars the amount of money in terms of deficit. donald trump has been saying and has been very unfair said he will do something about it. we will be looking at jobs, the currency, and trade. much.ne: thank you very great to have you on the show. our next guests says the betweenic relationship president xi jinping and president trump is considered to be one of the most important in the world. thank you for your time today. it is amazing the s

let's get to first word news now with ramy inocencio.amy: first, europe and the ecb may be willing to move towards a exi faster than we thought. tno policy change expected, but respond and say mario draghi will revise guidance in june, six months sooner than an earlier poll had projected. wasarch, he said tapering not on the agenda and the strengthening eurozone economy is seen as changing a strategy. meanwhile, the white house expects to offer an outline of its tax reform plan this week, although specifics may not be ready until june. president trump told his twitter followers "big tax reform and tax reduction will be announced on wednesday." budget director mick mulvaney said they were layout the principles, but the full plan would not be ready for a couple of months. the u.s. treasury secretary steven mnuchin says the imf outlook is "a little conservative." he repeated the administration's goal of 3% or more. the fun reiterated its forecast that the u.s. would grow at 2.3%, but mnuchin says the u.s. is positioned to expand faster and

ramy inocencio.next, what president trump's tough talk on china's trade .> sunday morning o 30 minutes away from asia's first major market open. china, india, and taiwan markets closed today. betty: those are off-line. we were online of course in the u.s. and almost too much online over andbears taking selling we saw here monday in new york. it is 7:30 p.m.. spring seems to have finally sprung here in the city. i'm betty liu in new york. yvonne: i'm yvonne man in hong kong and you are watching daybreak asia. let us get to the first word news with nina melendez. ina: senate democrats assembling an of votes to block president trump supreme court nominee. georgecconnell had said neil gorsuch will be confirmed one way or another and that may mean invoking the nuclear option, change in decades of senate tradition by eliminating the 60 vote threshold and ending filibusters on the moneys. the models are making it harder for companies to get foreign workers to the u.s. using h-1b he's a process. the guidelin

for more on what is expected from the meeting, let's go to ramy inocencio and palm beach florida.hat are the top issues for the summit? >> it strikes me as really interesting that this billionaire businessman and novice politician is meeting someone quite the opposite, a very seasoned politician now pushing back against luxury in china. what ties them is money and that is what we must be talking about. on the campaign trail, donald trump has been saying china has been stealing american jobs and taking them to china. another interesting topic is currency manipulation. china has been trying to figure out where it stands in terms of the u.n. the u.s. and donald trump has said it is potentially a currency manipulator. interestingly, former treasury secretary weighed in earlier let's take a listen. >> for the last year, china has been intervening to prevent the devaluation and support that renminbi. that makes it difficult to look at the current situation and reach a conclusion that there is currency manipulation. there is a transition underway from a managed exchange rate to a more ma

ramy inocencio here. talking about the numbers, but really it is about what oscar munoz said and the word everyone is gravitating towards his humbling. humbling experiences. they talked about the numbers first, but they got straight to the meat of this and he basically said "sorry." he did not say that the first couple of times he's had some statement. a sickly he was thing the incident that took place aboard flight 3411 has been "humbling experience." he says "i take full responsibility." this will prove to be a watershed moment for our company and we are more determined than ever to put our customers at the center of everything we do here. that is basically what he started off with, betty. we have to take a look at the numbers here. let us take a look at first quarter earnings here. revenue earnings per share, both beating estimates here. a .4 billion is what came out. 4 billion is what came out. earnings per share came in a couple cents higher. rasm wasthem -- p unchanged. capacity is going to increase

i am really inocencio. haidi: coming up next, the in-depth discussion on the french elections.ith be joined by a chief market strategist and someone else. this is bloomberg. ♪ ♪ we are counting down to the sydney open. we have the sydney futures opening higher after the results of the first of the two french elections. we are an hour and 45 minutes away from the sydney open. i am betty lou in new york. haidi: you are watching daybreak australia. we are seeing futures ahead of the citi open pretty much unchanged. one of the guests we are speaking to said we could be having quite a sanguine reaction . we last coast -- close with the up up 0.6%. it was a whipsaw kind of session -- [please stand by] early ballots in the first round of the french election showing that the centrist marine -- emmanuel macron and marine le pen will reach the run off on may 7. joining us now is a man from deutsche bank, the chief economic economists. also in over his chris western. becausetart with you, you had play down the market reaction that we could be terms of the australian open and the tokyo ope

ramy inocencio has the details on this. i'm good quarter for tesla.y were hoping they would hit the 25,000 mark for the first quarter, and they did. 25,000 was the forecast survey by three analysts of bloomberg, suite beat it -- so we beat it. theill be looking ahead to monday trade, because we will see if there is any stock match it -- start market reaction. but your today, tesla shares have surged 30% just year to date. this is on the back of a lot of good things happening for them, even since december, december 2, four months away. it is a 53% from the long run. let's walk through some of the milestone events that have happened over the past three months or so. january 4, the huge dig a factory that produces a lot of the batteries, potentially all the batteries, came online, and in february, they reported a smaller quarterly loss. elon musk came out saying this july, the model three would start to go into production. in late march, a few days ago, a heard tencent revealed passive state of $1.8 billion. and today we saw first quarter deliveries did

largest economies. ,et's get over to palm beach rain in its and so is following the story -- ramy inocenciofollowing the story. what is happening at the moment. they should be finishing dinner, i'll be a later am a behind schedule by 45 minutes. have been talking as you said nicely, doing handshakes, saying that they are proud to as well asresidents china's first lady in town at mar-a-lago. president xi jinping has been on the ground for the past eight hours. they first met face-to-face about four hours ago at 5:00 local time on the east coast. drove through with the military guard and limousine and went inside mar-a-lago to say hello. this is the first time these two are meeting face-to-face. just before dinner, donald trump had this to say. take a listen. you in honored to have the united states. we have had a long discussion already, and so far i have , absolutelyng nothing, but we have developed a friendship. i can see that. i think long-term we are going to have a very, very great relationship. you can see the handshake therebetween donald trump and xi jinping, donald trump saying he t

ramy inocencio will have more on that. let's go into the bloomberg.t geopolitical concerns continue to hang over the market. many strategist talked about the volatility not as bad as 2015, but nearing the high of the year. we will have to see significant gains in the market to offset the recent declines and concerns. betty: let's dig deeper into the earnings side of things. of two tael -- tale banks. >> goldman was a rare stumble in banking, you can see they are down 11%. more than half of that happened today. they ended the day down 5%, but they were down more than that at the low point. why? they reported first-quarter results, weaker interest from clients and commodities and currencies and client activity was challenged. $2.26on the big numbers, billion, on revenue, those numbers bigger than last year. they missed estimates. the 2.4% decline from a year ago and the all-important trading was a big surprise. it not only missed estimates, but trailed their peers. terms of bank of america, they exceeded estimates from early in the day, income was up 40

ramy inocencio has the details on this. they have been eyeing china for quite some time.e last two years. there looking to get over the internet great wall. they have found this in an streaming site. a lot of people in the western world not know about this, but it is one of china's biggest internet streaming sites and it is owned by baidu. it has 20 million subscribers to it. that is the latest as of mid-2016 or so. the news of this has brought record share prices to netflix, 8%.ping by 520%. -- 5. you can be sure netflix will be hoping chinese and denizens will love its unique entertainment. in terms of what they are offering, not sure just yet. could be house of cards or orange is the new black. they said cooperation with netflix will it here strictly to chinese policies on film and tv import. they have capped the number of shows they can stream in total. yvonne: look at this deal mean? what does it mean for the number of eyeballs watching netflix programs? ramy: the vice president of content acquisition says he does not think it will be major for netflix's official num

ramy inocencio has the details.hey did it for us and to show something is happening right and positive. let's look at the numbers. billion in terms of the gross bookings that uber has released to bloomberg. you can see the big jump from 2015 to 2016, more than double what we saw from one year earlier. you can see it how it happened to 2015, massive growth. net revenue, $6.5 billion for 2016. the adjusted net losses nearly $3 billion, and that excludes its china business, and we know that totals about $1 billion, so all in all for 2016, a loss of $3.8 billion, but with this public disclosure they are saying we are still profitable and still outpacing all of our losses. as you can see, it is still a loss of about $1 billion just for the last quarter alone, so they still have a lot of work to do and analysts are saying this is something only a few companies including uber can do. >> what about regulatory problems? they have had their problems in asia. they have tweaked their strategy recently. ramy: they have returned

ramy inocencio has the details in new york. things are looking better when it comes to tesla. are talking record number, 24,200 was the estimate of according to three analysts surveyed by bloomberg, but they went 800 more than expected, so 25,000 for the first quarter of 2017. you can see how that compares to the fourth quarter of 2016, about 22,000 there, so we look ahead to the u.s. trading day on monday when it opens to see any reaction, but let's look back on the first quarter. we can see from january through the end of march that tesla has in going gangbusters. , and if youhan 28% rewind that by one month, you will see tesla shares have popped by 50% in the past four months. if you have been going along, you will be happy sitting pretty right now with these numbers. let's look at what's happening in terms of the timeline of the past three months. they have been enjoying a number of successes, the opening of the factory producing batteries just east of reno, nevada happened in early january. in late february, tesla posted a smaller than expected quarterly loss. elon musk s