juliette saly is standing by. in the last hour, it was 14%, what did you do? juliette: it's more what j.p. morgan did with the cut, and this issue raises red flags. we have a lot of concerns about the property sector. what rachel was pointing to, omicron and the crackdown on tech leading to a negative session in asia, and particularly watching the seldom -- a sell down in tech players, and particularly macau casinos as we heard about the omicron case in china. property developers, as you mentioned, hitting a record. also of course flowing through into a number of other property developers because we have contagion concerns as well. evergrande toward a record low today as well. it's not just stocks only seeing shimao bonds. a lot of concerns about the sector. the effects and what will mean about the downturn in the property sector weighing on chinese economic growth. jp morgan saying the shimao deal is a red flag, cutting shimao to underway. manus: thank you very much, juliette saly with the latest on china and the asian market session. two ubs in switzerland. s

juliette saly. some moderation, not as strong as a picture as was expected. juliette: what was interesting is we saw the gap shrink from factory and cool. that was the first we have seen. this year, dr. inflation is slowing from the 26 year high in november. it was that in court inflation, the 2.5% that was above forecast. it is driven by a pickup in food prices. all of this moving towards a more positive equity market because it does mean that we will see more easing, perhaps. the best three-day gain since february. we have seen some strong positivity coming through. also, watching the on short you on, it does seem -- watching the on shore yuan, it does seem to be fixed. manus: may the pboc wants to cause the traders to ouch. thanks to juliette saly. on to the u.k.. force johnson has tightened measures to curb the spread of omicron variant, advising people to work from home. let's bring in lizzie burden for more. u.k. government, the impact on the economy is the most important thing for our audience

juliette saly in sydney. juliette: hey danny.singapore, two residents may have caught the omicron variant even after receiving their covid-19 booster shots. the positive tests are the first of the variant in the city state. china has reported 37 locally transmitted cases, the country's latest covert outbreak. u.s. commerce secretary says legislative domestic chip manufacturers need to ensure funds don't go towards production in china. she urged congress to pass the bill as soon as possible. >> if it can't be done before christmas, and has to be done in january. the consequences of not fixing this problem in the long run are quite devastating to our economy and our national security. juliette: elon musk has continued selling tesla shares for a fifth straight week. coming closer to his pledge to offload 10% of his holdings. he sold another 934,000 shares for close to $1 billion to pay for taxes, according to filings cemented on thursday. starbucks employees are one of two new york restaurants who voted 19-8 in favor of unionization

juliette saly is monitoring all of that from sydney. juliette: not well.ixed shares leading declines among its peers today. falling to a near one year low. we are seeing trading volumes all some -- also triple. this after the biden ministration was said to be considering imposing tougher sanctions. that could tighten the rules on exports and further, look at the supply chain crunch. the national secured a council is set to hold a meeting thursday to discuss this change. when it comes to the overall market fear in asia, it's a range bound session as we way that data. also as we look ahead to the fed, you can see the msci asia pacific index fairly unchanged. allete on for chinese stocks. this was called by mug -- mark cudmore earlier in the day or. -- day. asaf set of data and news that suggested that china is unprotected against the omicron infection, according to a study we've been following. a pickup in the hang seng property index. there could be further stimulus coming through from this sector. manus: i love jp morgan's call. it's my kind of call. by ev

juliette saly is in sydney. juliette: south african president has tested positive for covid-19, and is receiving treatment for mild symptoms. the nation is in the midst of a fourth wave of infections of the omicron variant, with more than 8000 new cases reported on sunday. president biden has approved help for the state of kentucky. tornadoes ripped across the south and midwest late friday, killing at least 70 people. biden has now issued an emergency declaration, mobilizing federal assistant efforts to 15 counties. kentucky's governor has warned the deaths could top 100. saudi arabia has boosted revenue forecasts next year, following higher oil prices and production volumes. the kingdom now sees its first surplus in more than eight years, and the fastest economic growth since 2011. in an exquisite interview, the saly finance minister told us excess revenue will be used as a buffer for the future. >> i wanted to make sure that we have the stability so that our budget does not fluctuate based on a sustainable fisc

with us again is juliette saly. juliette: the u.s. senate has averted a government shutdown from a passing a stopgap spending measure which now goes to president biden for his signature. the vote followed a day of negotiations between senate leaders and conservative republicans. democrats agreed to vote on an amendment to block the biden administration's covid testing and vaccination mandate for large employers, an amendment that ultimately failed. new york state has reported 11,300 new covid-19 cases, the most since january, with dozens of hospitals nearing capacity. mayor bill de blasio says new yorkers should assume the omicron variant is spreading in the city. a visitor from minnesota who attended a credit convention last month has now tested positive for the variant. u.s. antitrust officials have sued to block nvidia's proposed takeover of u.k. based arm, saying the deal would harm competition in the semi conductor market. the ftc says it is acting to prevent a chip conglomerate from stifling the innovation pipeline from next gen

juliette saly is in singapore. fed is due to start his policymaking december 14. >> the task we articulated has been met. inflation has run well above 2% for long enough. transitory has different meanings to different people. it is a good time to retire that word and explain more clearly what we mean. juliette: germany's incoming chancellor indicated his support for making covid-19 vaccinations compulsory. olaf scholz once parliament to have measures by the end of the year, saying he would allow lawmakers to have the final decision. a mandate would be a major step for the new administration. the european union lands to mobilize 300 billion euros in public and private infrastructure investments by 2027 to offer to developing countries. numbered understand that you global gateway program, which will be unveiled today, we'll outline spending on digital, transport, and health projects. the plans are seen as an alternative to china's massive belt and road program. global news, 24 hours a day, on air and at bloomberg quic

first word news, let's get to juliette saly. >> germany is rationing covid-19 vaccines to the rest ofr and made a surprise a surprise shortage of shots. the country's health minister says it has about 3 million doses of the biontech vaccine and 10 million modernity shots. -- moderna shots. u.s. health officials say that existing booster shots do hold up well against the omicron variant of covid-19. private companies are already racing to prepare additional vaccines targeting the variant. infectious diseases expert anthony says he currently sees no need for specialized doses. >> our booster vaccine regimens work against omicron. at this point, there is no need for a variant-specific booster. juliette: apple is delaying its corporate returns in the face of surging covid cases. the fed giant has said it has not announced a date for workers to be back. global news 24 hours per day on air and on bloomberg quicktake powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. manus. manus: thank you very much. coming up on the show, hitting fresh highs.

i am juliette saly. rishaad: and i am rishaad salamat. falling towards a record low as didi confirms it is planning to exit the u.s. stock exchange and. work towards a hong kong listing. juliette: kaisa warns it not -- warns that it may not make a bond payment obligation. rishaad: plus oil extended gains after opec+ sticks with a supply increase, but with strings attached. we just got this from the chinese aviation regulator, 737 max will resume commercial operations by early '22, after an almost three-year grounding. no doubt we will see shares reacting to this. we are seeing this on the website of the civil aviation administration of china's website. this is essentially a return of this aircraft to the world's second busiest aviation market. there we go, many more implications. it would pave the way for a ramp-up in the 737 max production to 37 aircraft in month early next year. juliette: and a few concerns for traders, not only the omicron strain, but nfp coming through in the u.s. and the reduction in stimulus from the fed. you have a

i'm juliette saly. rishaad: in hong kong, we have jay powell ditching the transitory tag for inflation. paving the way for rate hikes and faster tapering, as well. >> markets remain volatile as investors weigh the hawkish turn and fears over the omicron variant. rishaad: indian goods on track to top the major economies. the chief government advisor this hour. juliette: a little bit more of a pricing towards risk as we assess this pivot from what a more hawkish fed means. the big selloff in the u.s. overnight. s&p futures recovering. in asia, good gains coming through, particularly south korea, hong kong, and singapore helping to support the msci asia index. the first gain in four sessions. you are seeing more support today. up by over 2%. back above the $70 a barrel level. adding to the positive tone. australia's word quarter gdp coming in better. a pickup in yields on the year three. just holding at 93. things are looking a little bit more positive as we try to assess what this pivot, this transitory t