hong kong is here. at the same time, i have been here many times during the pandemic, and number of my compatriots from other financial institutions are coming back for the first time in three years and they have heard a lot about problems in hong kong. of course there are problems. there are problems in london, europe. problems are manageable. problems in hong kong are manageable as well. david: the priorities for the business, given in some ways rates are higher, what is the outlook for the economy? what else you need to hear? guest: we have had record quarters of income growth, and half of that has come from interest rates. the other half is all of the good things that are happening. there are some real hotspots of trouble for sure, but this is where the growth is in the world. growth is looking quite good. the growth outlook is good. we will continue to focus on serving our clients as they reconnect, there are a lot of re-connections that need to happen following the pandemic and supply chain reconf

for invest hong kong. thanks so much. how does hong kong become the king of international financial centers again? you have a tough row ahead. >> absolutely. the city of hong kong is not built over a year or two years. it is built on generations of hard work. with announcement yesterday that basically now a new path forward, about how we will use the information to elevate hong kong to the next level. >> back in 2018 there was a voluntary licensing scheme. only two platforms ended up being licensed, actually. it was seen that there was too much regulatory ambiguity as well as maybe a little tougher than some areas like singapore or dubai or other places these platforms ended up migrating to. how is this going to be different? >> the path of regulatory jurisdiction has always been regular. it is not changed much. it's basically the central theme of protecting the investors. the one perception that most people have, but if you compare side-by-side, there are all these regulations. now with the new announceme

good morning from hong kong. hong kong is back.the framing, and how this summit is being framed. we are joined by a very special guest. the host of the summit joining me here on the set at the four seasons here in hong kong. eddie yue. hma chief executive. how are you? >> very good. very nice. >> the welcome dinner was less nice. >> less nice at the museum across the harbor. it was great. people were connected with each other. the energy that you see when people find friends that they have not seen for a long time, the vibe and energy is really what defines the character of hong kong. it is very lively. >> was there -- >> who was there? >> we had more than 250 participants coming to the summit. all of them were there. they come from more than 100 global financial institutions, with about 140 coming from overseas. for many of them, it is the first time they are back to hong kong. they are very excited. to really see and feel hong kong. to see the energy and dynamism of the city. come in here, we hope that after this few days, they w

this political will was lacking 10 years earlier in hong kong. as well as gap until 2000 the 7 there was this sense of arrogance that people said, well that's the asians and we can do it. banta, and that's a common patton in the financial markets. mazda of in finance, mac. ah, hong kong is the most important banking and stock exchange center in asia. when a month after the conference, there stock prices collapse. it's clear to everyone that the crisis is not over. it's only just beginning. think flew late november 1997 in tokyo's government district. the japanese government knows that large amounts of money are needed to quickly save korea from default and massive economic collapse. it urges the u. s. treasury department in particular to act quickly and decisively career was the tense, largest economy in the world, and that time as it is today, it had only 8 point. $9000000000.00 is reserves not to long on the reserves or lost the government. only a few days, president clinton personally made a phone call to prison kian some that the south korea

as they convene in hong kong guy m. f came together to push even more deregulation capital market liberalization. they were pushing a set of policies that would have made things even worse. the in the lots of novels he, i am an almost the countries to stifle investment of any kind as well as consumption either at the height of the crisis. because by drastically increasing the base rates lines, that was a mistake wouldn't thus far in tokyo, before the conference, people are worried that the economic power of the entire region could collapse. trade with southeast asian countries has become steadily more important to the japanese economy. in recent years, when tight glass is split to indonesia, then we are afraid that that crisis may split 2 other part of their asia. but at the time when the crisis took place in thailand, we didn't expect such an a ah split. he'd been journeyed to korea ah. in tokyo's government district, staff at the finance ministry are putting in long hours discussing how to avert the looming recession.

enda curran in hong kong, thank you. we will have coverage of the rate decision right here on bloomberg. traders placed almost one billion pounds on a single bond in 2026 as traders dashed for scarce collateral. the be away concentrated its sales there yesterday. for more, let's get to bloomberg's lizzy burden. what do you make about how the start of qt has gone so far? lizzy: this is a significant moment. it seems to have gone pretty well. the markets absorbed the round. there is a hunger in the markets. there is more to come. we have to wait and see how it will handle sales on the long end that is where the market turmoil happened. we have a bank of england decision tomorrow. we're expecting a 75 basis point hike but we may get more detail on how they will deal with this. they are not going to want to trigger another crisis. dani: you're speaking yesterday with the trade secretary on the idea for growth and chris -- and trade. what did she say? lizzy: the whole conversation on growth was surrounding brexit. we asked ab

on trial next to them, hong kong's well-known pro-democracy figures. cardinal things people for support and concern. he asked that the press in particular not tied to case to hong kong's freedom. >> i do not want to put too much emphasis on my religious identity. as an older hong kong citizen, i am very supportive of humanitarian aid. of course, i hope hong kong will continue to enjoy religious freedom as it has in the past. >> d 612 humanitarian fund was set up in july 20 19 weeks after antigovernment protests turned large with cardinal zen and other defendants appointed at press ash as trustees aim to help activists pay expenses. millions in hong kong dollars have been raised. the beijing pressed. in 2020, beijing imposed the draconian national security law on hong kong and in the fund shutdown in august of last year. despite that, a magistrate registered at the police. cardinal zen has been a longtime critic of china, especially on religious freedom. he received strong support among liberal christians in hong kong, but was booed by those supporting

ah ha. hong kong late september 1997. all the world's financial elite are flying in to come together for the annual conference of the international monetary fund. and the world bank these 2 institutions were established at the end of world war 2, to promote smooth economic growth and to resolve crises quickly as they occur. when you when the heads of the financial world arrive in hong kong, they can look back on more than 10 years of strong stable growth for the demise of many communist economies and height and growth in east asia have created a boom. meanwhile, the global economy has moved toward an increasingly intertwined division of labor. southeast asian countries have been contributing strongly to growth in recent years . but for the past few months, the currency crisis in thailand is slowly turning into a massive economic crisis. and now threatens to spread to other countries such as indonesia and the philippines. so the participants at the hong kong conference aren't just there to pad each other on the backs. dele

millions in hong kong dollars have been raised. beijing.re in 202 p0, beijingssed imposed e draconian national security law on hong kong and in the fund shutdown in august of last year. despite that, a magistrate registered at the police. cardinal zen has been a longtime critic of china, especially on religious freedom. he received strong support among liberal christians in hong kong, but was booed by those supporting the institution. these are cments he made almost one decade ago. >> to always please them, to always do as ey asked, we destroy the church. we cannot do that. >> the vatican expressed concern over the rest of the popular priest. some in the church questioned if the roman catholic church is muffling his voice to secure closer relations with china. bbc news hong kong. >> local forces in northeast syria told the bbc they may have to abandon their operations against islamic state militants if turkey launches a fresh ground operation there. turkey has attacked hundreds of kurdish militia targets in the region in vitelli as

hong kong has an incredibly sensitive market. beginning of the week, rumors that they may open up, people were disappointed after the cpc. maybe the rear -- misread the cpc, but the market sold off, international investors are getting out of hong kong to china. some have a rumor that the markets will open up. what china needs is confidence in the consumer. it needs covid zero roadmaps. it will not happen overnight. we know the medical center version -- situation, a lot of the elderly are not vaccinated. there has to be a roadmap in china to get out of covid zero. it will not be a switch. once we are confident of the roadmap, people in china will be more confident. people are saving money, saving rates in china, higher than they have been for two years. corporate is now spending money. those have to change, the only thing that can change it is covid zero. the housing doesn't help. the u.s. politics doesn't help. but covid zero is the only thing that needs to change to get some sort of delta in the economy. rishaad: one word about

coming up, hong kong is fighting to prove it's still a dominant financial center. from the c.e.o. from the hkma summit. an important interview. stay with us. this is bloomberg. ♪ ♪ >> it's my third visit this year. >> congratulations. >> thank you. >> quarantine warrior. >> hong kong is rebounding and coming out of the covid problems and there is a very determined attitude from the government here to make sure hong kong can rebound and the country is open to the international community and it's important for us to support hong kong on that journey. >> what do you think it has been for you the biggest event you want to get away from this one with the government? >> very clear policies in the chief executive how he and the government wants hong kong to be an international financial center, to remain as that. they launched a number of policies to try and assure hong kong remains open to the world and they made determined progress locking hong kong since covid during the summer and it's great to see the progress and more still to come. it's great to see. and what we ne

martin yip of bbc news chinese reports from hong kong.s, he has come to show his support for activists put on trial. today, he became one of them. on trial next to him are hong kong's well known pro—democracy figures. the cardinal thanked people for their support and concern, but he asked the press in particular not to tie this case to hong kong's religious freedom. translator: i don't want to put too much emphasis| on my religious identity. as an older hong kong citizen, i am very supportive of humanitarian aid. of course, i hope that hong kong will continue to enjoy religious freedom, as it has in the past. the 612 humanitarian fund was set up injuly 2019, just weeks after the anti—government protests turned large, with cardinal zen and other defenders appointed trustees. it aims to help activists pay their legal and medical expenses. millions in hong kong dollars have since been raised but the pro—beijing press accused the fund of collusion with foreign forces to threaten china. in 2020, beijing imposed the draconian national security

famous glow. >> hong kong is known as one of the world's brightest cities. a reputation earned due to the glow of the distinct neon lights. this man learned the trade as a teenager. >> the 80's and 90's were the golden age of neon lights when the economy was prosperous. when i started working as a neon sign maker, i saw that they would vanish one day. no flower can blossom for 100 years. >> some groups estimate there were 80,000 neon sayings -- signs. only a few hundred are left. the government is removing old and oversized signs it considers a threat to the public. community groups have set up displays like this, showcasing some of the old neon signs that have been taken down in the hope that this part of hong kong's identity will be forgotten. >> some of them have been storing neon signs and learning to repair them. >> they have endured all sorts of weather conditions in the streets for decades. of course, they look rough around the edges, but they are not rubbish. to me, by studying them very closely or broadly, you can tell a lot of stories about hong ko

jessica washington al jazeera hong kong. ah, for time champions, italy, one of the big team is missing from the football world cup and it's the 2nd time and abroad i found to qualified his one place take on how the country is feeling about not being in kata. oh yeah. when july she built t se jani san auto mano, viola shoal shadowed a bit of progress, shown it if it were. so i will see lady v that one of us, your new vehicle book, we're probably going to jordan. joe, what i wonder, what throw on your soul to guide me through the thoughts for people that god shook dorion. do you go to believe she's a book, a bang laquia through the york community? much in a little more made up. but mino could i mean when you believe you have done, could i loaded the lead by level and then i like what do i like like chris from yeah, i'm your city, my son. it brought a double door, said you in trouble number, which your name don't, i'm not sure. and again, that's a job or learn more to spec others. oh yeah, that felicia, that you'd oma, simply s

some semblance of normalcy for hong kong.anges in hong kong, but we have to see if they just let things go as they used to or whether there will be police parading through this south stands -- through the south stands. i do not think so. we are being told we do not necessarily have to wear masks right now but that is a tricky subject and the city trying to find its way past the pandemic and the protester. we will have to see later today and this weekend and whether the weather holds. my first rugby seven was 30 years ago, and it was a mud bath. the entire pitch was just to sea of brown mud. you know what they say about the rugby sevens, it is essentially a big party where a couple of rugby matches breakout in between. haidi: bloomberg's very own party animal. tiger global management is said to be pulling back on worries about geopolitical tensions and covid zero. let's bring in our chief china markets correspondent. this strikes me as interesting timing because we have been talking about the two pivots. one of them is the soa

now the hong kong sevens is back.ity is ready to show it's back as well. >> reporter: it's the city's biggest sporting event. >> oh! >> reporter: but after a long hiatus, the hong kong sevens is back. >> we really want to make a statement that we're still here. hong kong is still a resilient, vibrant city. we're still open for business. >> reporter: this iconic leg in the global rugby series is hong kong's first major sporting event since the pandemic began. it's seen by many as a symbol of the city's reopening after more than two years of isolation. hotel quarantine has been eliminated. social distancing restrictions eased and hoping to revise its status as a global business hub, hong kong established a summit, the first in almost three years. >> we've been closed for too long. we're beginning to open up, following the other parts of the world that have already opened up. and this is a tangible demonstration that hong kong is back. >> reporter: back but not quite. a mask mandate remains in effect. visitors are not al

jessica washington out as hero hong kong. because in hong kong has upheld the conviction of a veteran journalist accused of making false statements for story on attacks against pro democracy protesters in 2019 by choi, was found guilty of deceiving the government in applying for access to license plate information. she was investigating who attacked protesters than a subway station in 2019. maybe professionals say her conviction is another example of eroding press freedoms. ah oh fans and argentina getting ready to travel to cas, are to watch that scene. play in the fif of world cup out there as theresa by a caught up with them in buenos aires. oh, it seems like the world cup has already started in this blas him when a site is there all travelling to cut out for the well couple. and this is the last barbecue, before their trips. i really narrow that he says, most of them have become expert in finding the most affordable way to accompany argentina's team in doha. for those on yucca no thing a lot. i finished. i haven't gone on

when it comes to hong kong, with the news that pershing founder bill is betting against the hong kongt's not the first time we have had a u.s. money manager taking a potshot at at the hong kong dollar. he believes the peg is going to break, how likely is that in your experience? you have charted this. >> there is good reason to think there will be pressure on hong kong because of the pandemic. the economy is expected to shrink 3% this year. because of that, interest rates are going up because the u.s. is increasing rates, and hong kong needs to be in line with the fed. he tried to bet against the peg back in 2011. that didn't work out. george soros tried to bet against the peg back in the late 90's after the asian financial crisis. he didn't win. other american fund managers have lost money, too. if hong kong was to keep the peg, and there is plenty of reason to do that, they want to keep the market open for chinese companies that want to raise a company -- currency that they can convert into u.s. dollars in easy fashion. then they have the ammo, 4 billion in reserves to defend that.

jessica washington out 0 hong kong. the 4 time champions, italy, one of the big teams missing from the football welcome. that's the 2nd common road they failed to qualify for his one players take on how the countries feeling about not being and cut off. oh a yeah. on july she been fee, say, jani, so a little mine on the old one, but she will kind of shadowed a bit of progress shown it. it made wish to sheila d, v that one of us, your new get community, but i'd be willing to jordan. jo, what i wonder, what throw on me so to guide me through to philosophy will come people that, gosh, you know, the, or you go to the belief she be a bang look, read through the your community much. you know, to me that mean all could i mean when you believe you have a daughter to lead by level that on a like a city must unemployed a double door. said you incredible number of a shawnee don't. i'm not sure. and again, that's a job or a speck of those. oh yeah. i love that felicia, that you'd oma same to suddenly showing your feel w quote, a qu

city and hong kong people academic brian clunk has been recording neon signs since 2016. you could tell that a lot of the on line has been disappearing with trace with a mock austin leon. i was there, but that they, after they disappear, you know, one tried to document it's our culture, our regional culture will be disappearing to the few noon sign makers lived many a now focusing on smaller products or installations for artic submissions. i'm sorry, i will try my best to make good me on site. so people believe they deserve to be preserved to the whole. despite the challenges, woo says he will continue making signs as his father did before him. jessica washington out as hero hong kong for time at champions. italy are one of the big teams missing from the football. woke up and it's the 2nd time in a row they fail to qualify for his one that players take on how the country is feeling about not being in cutter. oh, a yeah. on july share bill t se jani. so a little mine on deal. but she will kind of shadowed a bit of progress shown it. it made wish to seal either one of us, y

jessica washington out 0 hong kong.

china announces some easing of restrictions in hong kong. u.k.ellor jeremy hunt is planning a spending freeze after britain's next election. we will get more on that in the latest gdp data. that is next. this is bloomberg. ♪ tom: happy friday, welcome back to the open. 39 minutes into the trading day. futures in the u.s. looking to build on the solid gains we saw yesterday. the nasdaq 7% on the softer than expected cpi print. china easing covid restrictions. the dollar is down 0.5% giving a leg to the euro and sterling. francine: the u.k. economy shrank, marking the start of what is expected to be a protracted recession. gdp fell 0.2% leaving britain as the only g7 country to fully recover from the pandemic. let's get to lizzy burden. can you break down the data for us? lizzy: the contraction is smaller than expected but if you hone in on september, it was worse than expected because we have this backdrop of the cost of living crisis. this is when we had the queen's funeral, and the weight on sentiment. it marks the beginning of this protracted r

yeah, i think it matters to hong kong like, and even the world like i don't want to see on a hong kong university campus. they sing a hits from the musical, les miserables, an unofficial anthem of previous anti government protest here in hong kong, is now part of this uprising that spreading across the world. like here in tokyo, outside the chinese embassy. and in london, where concerns over beijing's crack down on protesters has sparked this response from the u. k. foreign secretary. well, protest against chinese government all rare. and when they do happen, i think the world should take notice by think the twenty's government should take matters. it's clear that the chinese people themselves are deeply unhappy with what is going on about the restrictions imposed upon them by the chinese government. china's foreign minister has defended the country's cobra restrictions, but on the streets, tensions are running high. as a heavy police presence in cities including shanghai, with authorities, quick to make arrests, they do not want to repeat what happened over the weekend. but the world

martin yip, bbc news, hong kong.during the coronavirus pandemic. the report says his actions corroded trust in government. an agreement has been reached at the global conservation summit in panama to reduce the trade in shark fins. they say tens of millions of sharks are killed every yearfor theirfriends. millions of sharks are killed every year for their friends. the millions of sharks are killed every yearfor theirfriends. the market is said to be worth half $1 billion annually. the mousetrap — agatha christie's murder—mystery play — is celebrating 70 years in london's west end tonight. it has now been performed almost 29,000 times. and next year it will cross the atlantic and open on broadway for the first time. as our entertainment correspondent, david sillito, reports, despite its age, the mousetrap has not lost its original charm. good afternoon. welcome to today's performance of the mousetrap. agatha christie's the mousetrap. and today's performance, number 28,915 — a special anniversary reunion for former cas

and campaigners in hong kong rally to save the cities famous neon signs. ah. so voters and candidates, so getting ready for us mid term elections that will determine the balance of power . monday's last day of campaigning before tuesdays vote with democrats and republicans making their final pitches. democrats have a slim majority in both houses of congress, but that could change with poll, suggesting a republican come back. as in joe biden, has campaigned on value issues, rallying support for abortion rights, and accusing republicans of eroding american democracy. former president, donald trump, has focused on the economy and the rising inflation rate. both sides are offering competing visions for america's future. today's his most important election in our lifetimes is going to take shape in this country for decades to come. one of those inflection point, i'm in a sincerely where what's gonna happen the next couple years is going to have more to do with what this country looks like 20 years from now. then anything else biden and the far left lunatics are wag

not really at the moment taking a hold in hong kong. david, also looking at tech as we have met a job losses being reported. apple saying they will not be selling as many iphones. and a reverse at twitter. david: yeah, come back to work. all is forgiven. and ooh, we forgot we needed you to do this to achieve our target. you have midterms midweek, which also coincides with that wall street journal report on the timing of one meta will begin that -- of when metra will begin that -- the apple story goes into the u.s. futures contracts. asia is seeing an up arow story, including most of the benchmarks as we speak -- i have to qualify every sentence of this. in hong kong, 2% up, as far as hscei is concerned. a rally in most of the commodity markets. copper in shanghai up about 3%. it is really in what was and was not said in the middle ground investors are trying to nail. it's a moving target. yvonne: it is really tough to gauge what it all means. the official is unswervingly committed to covid zero, but underneath the hood you have to parse

strong in hong kong brushing off the tech stocks listed in hong kong.he reiteration i beijing officials that they are sticking with covid zero. i want to start with china and whether or not you think there is all this speculation -- i think it comes down to how quickly and to what extent the timeframe has shifted around covid zero but i also want to get your views on the rally we have seen in the last few days in hong kong is rational. there is a view and mark cudmore has said this is a story about valuations as much as anything and that there is so much priced and in terms of negativity to these stocks that it makes some sense at that level. what is your sense of the equity direction we have seen from the chinese stocks? wei li: valuations are very cheap. a lot of the geopolitical risks and growth uncertainty are in the price and you talked about covid zero and when the opening up could take place. that was getting markets excited last week. it is important when we look at china interesting to look at the bigger picture. look at growth this year, we ar

we are going to have a look at hong kong.equality in the city continues to draw attention and is a massive issue. our next guest believeth focus on language skills can bring about significant changes. the cofounder and ceo of co-founder education joins us now. what is the problem first of all? what is the solution? and what are you doing about it? >> that is a wonderful way to start it. basically every society and every society's sustainability depend upon how inclusive its education system is. the inclusivity depends upon language being a key structure of being inclusive and integrating and immersing the population. as far as the hong kong government concerns, they have always been supportive in terms of prioritizing education. even this budget year, they have put in 30.9% of the budget toward education. however, there is a segment of the non-chinese speaking population which when they go to the local schooling system, so the local schooling system is free, i think that is where the actual core problem lies, wherein the syst

there were about 80000 neon signs around hong kong in the 19 seventy's. to day it's estimated only a few 100 on left. the government is removing old and oversized science. it considers a threat to the public. around the city community groups have set up displays like this showcasing some of the old me on science that have been taken down in the hope that this part of hong kong identity won't be forgotten. some volunteers have been storing old me on signs and learning to repair them to they have and do it like different kinds of like weather conditions in the streets for decades. 20 or 30 years easily. of course, they look like rough around the edges, but they are not rubbish. me like by studying them very closely or broadly, you could actually tell lots of stories about hong kong city and hong kong people. academic brian coke has been recording neon signs since 2016. you could tell that a lot of the on line has been disappearing. we've twice with the mark austin, leon. i was there. but the day after they disappear, you know, one tried to document it's our

i was in 2900 in hong kong. and in hong kong, they were using the might and 2014 playbook. you know what, they were doing hong kong they were showing the propaganda movie winter on fire every day to kids, their way of doing indoctrination, telling them that you should fight for your freedom and so on, et cetera. and so long, just just to brain washing. and suddenly what happened is that they caused remaining kids why kids, because kids are easily misled because of the emotional, emotional reaction that rational reaction. sadly, this is the target working on emotions because people you, you've lost your freedom for you, freedom and the, and the, and i just let me know if he's going to say the, it's probably going to say what i think the, the, the best, the west, the collective west could do to china is tarnished the image of china. these the words that they can do, but these know ways too much support of the c p. c. to have any, any colored revolution to be successful. it's impossible. speaking just live from hong kong that was an angel, juliano political and financial analy

hong kong leads global stocks higher. plus, governor andrew bailey tells bloomberg's that markets should not conclude there will be a series of quarter-point -- three-quarter point rate hikes. >> people would be surprised when they see that we is in the fed are looking at things through slightly different lenses. manus: another day and another rumor. if china really reopened, just think how much money would flood in from risk and how much global risk narrative would shift. it is palpable on the boards. dani: it is palpable, the superlatives are huge. hong kong tech on track for its best week ever. it's just started eight years ago. hsi is up the most is an 11 years. the market has been so bearish that the upside potential we are seeing this morning is massive. manus: absolutely, high beta reaction from commodities, oil is up over 2%, you are looking at currency moves, and indeed stocks are coming to bear as well. this reopening narrative is really strong. dani: and you also have to assume what this means for the rest of t

it's no longer advantageous to be short of hong kong dollar.u look through the history of what has been happening over the past few years and you look at the state of the hong kong economy, which is weak, you will not get too many people who are going to get very bullish on the hong kong dollar just yet. particularly until china fully reopens from their covid strategy. this is probably more like a short-term move. we're likely to see the hong kong dollar weaken in the next two weeks. if you look at what is happening of the option space, the way that the pricing of volatility gives people an advantage to start a short the hong kong dollar again. they can do the zero cost the strategies and actually earn a bit of premium. it's not unlikely that the hong kong dollar will stay strong for very long. david: just so quickly ask, one of the stores percolating in the fixed income space in korea, this has to do with the larger forces at work and may be reasons why central banks may need to rethink how far up they can go. the credit stress in the market a

coming up on daybreak, staying committed to hong kong.t more from our interview, next, this is bloomberg. ♪ kathleen: you are watching daybreak australia. let us discuss the morning calls. strategist say this will be a favorite of many managers? annabelle: citigroup is saying the investors basically need somewhere to wait it out for opportunities to come along and where is the most attractive place? that is in cash, especially with the yields rising after eight central-bank decision. they have a portfolio developed by strategist and it is overweight cash by 18%. this is the latest in a lot of defensive calls on the course. if you look at this chart, the dollar is trading at the upper end of its craving envelope -- trading envelope. this looks at moving price averages and we have seen a lot of investors holding back from moving into risk assets and staying in cash. we will see money manager stepping into cash piles eventually, many at citigroup say that will be slow to materialize. haidi: also slow to materialize is the lifting of covid ze

the hang seng index, the benchmark for hong kong, up 5.3%. president xi jinping welcoming his german counterpart olaf scholz for a one-day trip to beijing. on the agenda were trade ties and human rights issues that have strained beijing's relations with brussels. we heard from xi jinping saying that he wants to see germany and china work together in a challenged environment. joining us now is danny alexander, former chief secretary to the treasury and vice president of policy and tragedy at the asian infrastructure investment bank, or aiib. thank you for coming into the studio. i want to start with this question who has spent time in china working closely with your team at aiib having contact with chinese officials. are we starting to see a third term for xi jinping, china now in the last few days that is preparing to engage once again with the world? as we look at the speculation around the easing of covid restrictions, would that be your analysis or is it more complicated? danny: it is not really for me to give commentary on the chinese sys

the hong kong monetary authority conference taking place.: we will get you guys updated on what's going on. one of the key takeaways from yesterday was hearing from mainland chinese regulators talking about some of the key issues, addressing that they are aware of these pain points in the economy, watching them closely. this acknowledgment is that hong kong can go ahead. yvonne: also, look forward. also, don't listen to the american press they said and focus on what china is doing. that was the latest line we got yesterday. i thought what luke ellis said was quite telling as well. very insightful from what he said yesterday in our interview, talking about the recession in the u.s. being inevitable to curb inflation. what it's going to take to push that inflation genie back in the bottle. rishaad: we have these pictures there. quickly checking on how japan did close. 3/10 of 1% down. we've just seen what's happening in the rest of the region in tokyo. we are looking at some of that talk out there about the covid zero policies in china being a

i'm not for the money, i have to run from hong kong, i told you at night.top let me explain i'll ask you the last time you leave or not you will call. i'll conclude now, we'll see. please do n't. let those calls ring from the living room. send the senior here. thank you don't worry i i'm leaving, i'm sorry, but if i succumb to pity, they won't ride us. i agree to pay your fare. wherever you want only. get off at the nearest port . i can't do it in japan, they will arrest me for not having a passport. you are without a passport. how come you like to enter the us would come up, dear lady you have no chance you best go back to hong kong excuse me sir. no, all the seats are taken, someone can get off at the cobby, but it's unlikely when the club will be tomorrow at 11:00 am sir. thanks for anything else, your excellency. nothing thanks. straight broadcast today on pervoi this is a real dream tournament that cannot be missed. choose figure skating in the application. day after day, the three gods are worrying, but can you help with them? the vtb team will offer

that as hong kong 7th tournament took place in the seventy's. now it's back up to a 3 year pandemic haters. so having the own come 7 back is 1st and foremost. great belief. it's been difficult 3 years for, for us and uncle rob union, i need to run the community here in hong kong. hasn't as for so many other people, but to actually have live sports events back in the city is fantastic to 3 days and difference this year. while quarantine requirements have been removed from visitors to hong kong, face masks are mandatory, and stadium capacity is kept at 85 percent. and there are limits on entering bars and restaurants in the city. but officials are hopeful. the rugby and other international events this month will help provide its economy. how many little more activities of the cupboard situation is under control. so that we can move ahead to reconnect hong kong with the world authority and say the city is looking to host more sporting events next year. hong kong is back to normal and we are ready to welcome more into this home calling the great cit

haidi: annabelle droulers in hong kong. let's get you to vonnie quinn with the first word headlines. vonnie: saudi arabia denied a report that it is discussing an increase. wall street journal said the group was considering raising output by as much as 500,000 barrels a day. the saudi's say current production cuts of 2 million barrels per day will continue until the end of 2023. indonesian officials fear the number of people killed by a powerful earthquake may rise as they search the rubble of homes and buildings. at least 162 lives have been lost with hundreds more injured. the magnitude 5.6 weight shook the west job a region. office workers fled buildings in jakarta. the pentagon says it is seeking a meeting between the defense secretary and his chinese counterpart during an asean summit this weekend in cambodia. it would be their first talks since beijing suspended dialogue over nancy pelosi's august visit to taiwan. the u.s. says it would welcome a meeting but has nothing formal to announce yet. global news, 24 hours a

here we go again with the hong kong lunch break. there we go.ang seng up by about .5%. they may be getting a little bit of help from authorities. >> the bond market also in positive territory. keep it with us, this is bloomberg. ♪ a pla investing strategies designed to help you keep more of what you earn. this is the planning effect. >> i am carolyn hyde. i am at

in hong kong, the u.s.ollar strength is coming as the economy is still struggling to reopen and move back the covid curves. higher borrowing costs and higher and tighter liquidity conditions as well in hong kong. as a result of that maintenance of the peg it is an additional headwind for hong kong. there have been other periods of dollar strength that has challenged the peg in the past and i did not see that will be enough to trigger the hkmoa to move away because it does offer broader financial community. hong kong is a huge trading hub and the peg is a huge anchor point for an attractive a rea. shery: many investors are betting against it. when it comes to central bank tightening, we have another decision from thailand. they have been one of the more dovish in the region. what are we expecting? katrina: we expect they forge ahead with a 25 basis point hike. as you say, the bank of thailand has been dragging its feet when it comes to policy tightening. we have seen that the central bank has emphasized the

which i did within 36 hours within 12 or 13 days of him being in hong kong.f you ever visit with him in russia? for maybe two or three years after the reporting period he never wanted to be in russia. by revoking his passport but most importantly by bullying the cubans into rescinding the passage when she needed to get to latin america. he'd been in russia for eight years. when i visited him he was hoping to one day be able to leave. right now he's married his american girlfriend, they have two children in building a life there. he still likes to come home i think he is content with the life he's chosen for. >> is a real debate in this country heroes, or villains? >> to me there's no real debate. one of the things i discovered in my work as a journalist that i did not previously know what was he to true extent to which everything in washington is done behind a wall of secrecy. obviously a most everybody agrees some things the government does should be secrets of their troop movement in the war you have a right to keep that secret. as a grand jury investigatio