up, wynn macau delivering a better than expected profit.will watch how the stock reacts in premarket coming next. this is bloomberg. ♪ haidi: this is "bloomberg markets: asia." i am haidi lun in sydney. inhaad: i am rishaad salamat hong kong. we count you down to the start of trading here, china, and we are looking at the premarket session on the way up by .4%, hang seng on the futures similarly higher. resortshe stocks, wynn came out with figures overnight, wynn macau helping, up 4% in premarket. let's go into this chart showing blue hasmacau in outperformed its peers. we have the recovery in macau after being in the doldrums. declining gaming revenues, and it has turned positive against some basic facts as well. well -- basets as effects as well. haidi: headlines for all the wrong reasons, suspect wealth management products being sold to clients in one of its branches in beijing to cover up another fraud. it turns out like it is a more mundane case of forgery than anything else involving one ranch manager, but not a good look when it come

rishaad: coming up, casino operators looking for more loans this year in macau. watching lou burke. -- bloomberg. ♪ rishaad: you are back with "bloomberg markets: asia." haidi: i am haidi lun. borrowing bigger wages. they have signed a $3 billion deal. they are hoping this is a little bit of the lid this test, the start of a revival for the market. >> the story here, macau is back in a sense. people are gambling again. what casinos are doing is targeting the mass-market. i think you are seeing maybe a little bit more confidence. >> i suppose the question is, whether this says more about macau, the recovery we have seen in gaming. or what it means more generally for the loans market? i think the loans market, we have had a look. region as a-pacific whole, it is down about 35%. 88 billion dollars in terms of loans. are little bits anxious about borrowing. newoutlook, with the administration in the u.s.. thinkers are hoping they are companieset out soon, getting confident about a better global economy. rishaad: how his appetite across asia? are banks getting a boost

you'd used to work in macau.ith the recovery being led primarily by vip resorts, german , they are a vip focus operation. they are the reporter -- are those who would be most likely to capture those gains. then you had the parisian palace a year later. yvonne: they lost on that. >> certainly there is overall going potential and tremendous operations. if you take out the deluxe ,actor and look at operations it seems to be that existing operations were very flat. certainly when the market grows quarter, thater will be probably disappointed. yvonne: china, the leader of the mass-market, how would they strategize? when you mentioned some of these rivals building resorts, will they be able to generate the same amount of traffic? >> historically, macau has had up and downs over the past five years or so. when you have these recoveries, you see the vip market lead the recovery. leaving customers generate more mobile, easier to get in and out, and the first people to come back. in this situation, i would not worry too mu

we just got this chart in from macau, talking about this recovery.revenue, not quite what you have seen. it is the store you just mentioned. you are seeing revenues recover but they are not back at the level we saw at the left side of the chart back in 2010. is there any projection it might get back to that, and when? >> at this point it will be difficult to say. to get to that level, very difficult. that was the time when it was the peak. a lot of government officials going to macau, gambling, a lot of that has been removed. we are seeing the healthy, wealthy chinese gamblers coming back. really, to get to that level of revenue, it will take some time. at this point i don't think it will reach that peak, but it will stabilize. because the topline is so driven by the vip segment, it will be volatile. that is why most of the market should not stay focused on profits and step away from looking at headlines in terms of revenue on trend. betty: certainly a lot more behind the numbers. .hank you margaret on the casino operators. plenty more to come on blo

according to the french consulate there are more than 8,000 eligible voters living in hong kong and macauational addition of the new york times. each is an image of soldiers near a polling station on sunday in paris. —— it showers. —— shows. the paper says the election is one of the most consequential in recent times, notjust for france but for europe, and one of the most unpredictable too. the irish times reports "macron poised to defeat le pen in run—off". we have been hearing that from one pollster. with an image of the smiling independent candidate, the paper says the only thing that mr macron and ms le pen agree on is that the left—right division is finished. and finally the london business paper, city am. it reports that the euro jumped on sunday after emmanuel macron emerged as the likely leader in the race to become france's next president. at one point, the eurozone's single currency was up nearly 2%, and that's the highest in five months. joining me to discuss today's papers, french journalist agnes poirier. just on that note of the currency surging at the relief of this result,

we did have wynn macau rising. a six week low in hong kong.s hope that some of the home sale profits on suspicions of illegal transactions. cheney's stocks had a pretty good street. they are tracking that surge in cheney's yields. we did have banks and lenders checking the most in five weeks given the rising rate. the topet's get back to story. offering 4 billion swiss francs and decided to retain full ownership of the swiss bank. net income numbers. >> francine lacqua and spoke to the company's ceo. >> under normal circumstances that should be it. said a complete restructuring we would need to refuel in 2017 which we are now doing. we have 11 million of restructuring costs to go through. francine is in zurich. he is living up to his reputation. swissholding onto the chapels. francine: i was getting an idea of why the chose to raise capital. he said this was always in the works. februaryoke to him in or january he was turning back ipohat he said saying the was only an option. today he said this was a capital raising, when he took over. that is

the macau unit seeing a 26% jump in net profit from a year earlier. company telling investors it plans to start construction as early as december on the first phase of its 1.5 paradise park off the las vegas strip. wynn up 4%. >>> and edwards life sciences beating q1 forecast. the company earning 1.06 a share last quarter. the company's also raising its full-year outlook up 9%. >>> still to come on "worldwide exchange," why the internet is buzzing over beyonce, elon musk and the pope. an odd pairing -- trio, excuse me. top trending stories on deck. as we look at how things shape up in europe, mixed picture this morning. coming off the back of slight gains yesterday and of course stellar gains on monday after that french election result. we're back in a couple minutes. think again. this is the new new york. we are building new airports all across the state. new roads and bridges. new mass transit. new business friendly environment. new lower taxes. and new university partnerships to grow the businesses of tomorrow today. learn more at esd.ny.gov knows

for instance, hong kong and macau each have their own.d each other at first, but we ended up communicating well through international sign. these people are generous, kind, funny, beautiful. plan yourjourney, save money, buy a ticket and go. experience what the world has to offer. and if you see anything you think we should know about, don't forget to get in touch, it's @bbctravelshow. well, to end this week, 2017 marks 200 years since the first ever roller—coaster was opened in paris. since then, technology has made them faster, higher, longer, and of course, scarier. rajan has volunteered to try out the latest ride in spain's fuerteventura. it's been a regularfixture on the costa dorado since 1995 as part of the biggest family resort in southern europe. porta ventura is a well—established theme park, spain's biggest in fact. and they get about 4 million visitors here a year. but now they're building something that they say will take it to a different level, and that will give us one of the most amazing experiences in the world. i've com

let's talk about macau casino operators.ghest levels since august 2015, the structure of demand has changed. in gaming, less reliance on vip. in liquor, less reliance on government sales, especially the gasoline, the 106 proof alcohol. and swiss watches, more of the average consumer buying those. gaming revenue up 18% in march, the fastest pace in eight months. it had fallen every month for two years since president xi jinping's anti-correction crackdown began mid-2014. mid-1523 revenue, gaming revenue was down 49%, so the floodgates stopped, the vips and junkets were in trouble, but now they have switched to mass-market, family-friendly. d, but it a tough perio is starting to happen and it is reflected in those stocks. galaxy sands china slump 65%, but up again 12% this year. galaxy up 28%. wynn macau come up 39% up so far your today. david: and liquor? >> i have been to a lot of these facilities in china, tasted this stuff right out of the still. i still don't have a taste for it, but the mass-market is increasingly buying

it is more than we are seeing in the biggest casinos in macau.aught the attention of a lot of people. the new casino has been built and is still awaiting regulatory permits and credentials to open. also, they're having issues with moody's and others. they were downgraded seven or eight notches below investment grade. ramy: great stuff. super reporting, super interesting. good story. up next, janet yellen said that that is lifting its foot off the gas. we will look at what that means. this is bloomberg. ♪ [ engine revs ] [ screams ] [ shouting ] brace yourself! this is crazy! [ tires screeching ] whoo! boom baby! rated pg-13. [ screams ] tually hold your business back? say goodbye to slow downloads, slow backups, slow everything. comcast business offers blazing fast and reliable internet that's over 6 times faster than slow internet from the phone company. say hello to internet speeds up to 250 mbps. and add phone and tv for only $34.90 more a month. call today. comcast business. built for business. shery: it is eight: 30 a.m. in singapore. a sunn

macau market revenues are up 18% from last year.t month for macau gambling in the last few years, highrollers or not. macau with 64% of revenues in the full year of 2016. that is a look at the movers in the market. we will have that micro and macro theme in the next hour. jon: up next, we get you setup for q2 with alessio de longis, as the ecb scales back to 60 billion euros. officials say this is not the beginning of the end. the conversation continues from new york. you are watching bloomberg. ♪ jon: setting the stage for a meeting with the chinese leader this week. president trump says the u.s. could act alone to address north korea. bank of america says improving economic growth and global inflation have analysts the most bullish on local growth and profits in six years. political risk bites back. his 60 day as political drama in south africa continues to unfold. consensus trade under pressure. from new york, good morning. welcome to bloomberg daybreak. i am jonathan ferro alongside david westin and alix steel. futures go nowher

we are seeing an increase in fleet size throughout greater china and from china, to taiwan, macau, andine. it is a positive direction. haidi: we have also seen a move towards deregulation, both on the registration and approvals regulators,ation and in terms of private sector infrastructure. do you expect to see greater volumes and activity in the space you working because of this increased deregulation? is that something you guys are expecting to see an uptick in demand as a result? >> as an industry, we are trying to encourage the authorities, beat it government, be it stakeholders, with airports, traffic, toarge of loosen up and be more understanding of the business of aviation and the economic cycle. if we are doing well, generally speaking the economy is doing quite well. we see a need for a change. airports don't appear quickly. they take time and planning. as an industry through lobby jetcraft and others are trying to encourage authorities to open up and make it easier. it is getting better, but it is an emerging market. it is growing. we are trying to get that message across as

the per table take has been one of the biggest -- more than one of the biggest in macau.our attention. rishaad: also, passports turning up as well. the raid, according to the fbi, netted a carbonate full of chinese passports for construction workers who did not have proper work visas or credentials. at least one person was arrested on reports of "systemic human smuggling concerns." addition, people familiar are telling bloomberg that the u.s. justice department is also investigating the activities of the casino itself. the race with the passports, associated with contractors and the building of it, and now the justice department investigating the casino itself for possible anti-money laundering violations rules. island, aboring commonwealth of the norm or -- northern marianas islands, was shut down for alleged financial crimes, after a $75 million fine was levied on them. already the staggering the ip bets at the casino drew -- the ip bets at the casino drew attention. haidi: the revenue you are talking about, it is from this temporary casino. when the permanent facility

>> macau. >> china, yes. >> mm-hmm. >> the men's national championship college basketball game.one till, you know, probably at least midnight. >> tell the truth, are you going to check the scores after you go to bed? are you going to look up -- >> no i'm not. >> no, no, no. >> do you want me to call you if you win? >> please. no. i'm hopeful that north carolina. i mean i've watched them enough -- >> i forgot you're rooting for brian steele. >> i'll be second. i have north carolina. he really kind of stole my north carolina. he did. >> he did it well. >> i was picking and then, i don't know. he also had -- >> he must have had good picks earlier on. >> he was down low. i think he still had maybe even gonzaga i'm not sure or oregon or something. top seeds gonzaga and north carolina face off in an east coast versus west coast battle. and a couple of big -- you've seen the one guy on gonzaga, right? >> yeah. >> like a giant. >> yeah. >> he's 7'1". and got this big, long -- >> is he really? >> yeah. 7'1". >> wow. >> and, i don't know, north carolina's good. north carolina's good. and

the las vegas operations were strong, and the is a secasino mn macau is improving.hey are also look to open a resort and casino in japan. >> shares of takata suspended today after a report says the struggling auto partsmaker is considering whether to file for bankruptcy. it would call for a u.s. company to sponsor the turnaround for $2 billion. shares down 19% this morning and suspended. >>> german labor officials say tesla is offering pay raises and job guarantees to de-fuse tensions at a key supplier. they are key to ramp up production and mass market car production. >>> astrazeneca hq1 drops on blockbuster revenue. >> wpp says revenue growth slowed in the last quarter as ae clients spent less in the u.s. and emerging markets. sir martin sorrell on "squawk box" europe earlier this morning talking about business in china. >> down in china q1, mainland and elsewhere around 6%. the we've seen the multinationals come under heavier pressure in china. the growth in the economy is driven by real estate and construction. there has been, i think, some loosening from an eco

we are anticipating macau's casino regulator to report revenue in the first three days of may.they've will meet market estimates. now i want to check on shares ahead of its earnings report 24%, chow tai fook shares passing diageo. percentuarter of a after the conglomerate got the nod from austrian regulators to buy alinta. rishaad: thank you so much. right, first word news headlines with paul allen. paul: the independent centrist emmanuel macron is through to the second round of the french election, projection saying he won the opening round. the interior ministry suggests 23.8% of the vote, with anti-euro, anti-immigrant marine le pen and second with 22%. survey suggests macron will win the second round. the euro touched its highest since november. >> i would like to say that i really my responsibility is, and if i am full of joy, i know full well what it means and i will carry on with optimism, enthusiasm, faith in her country, and in europe. free ourme has, to path, french people, our arrogant politicians and policies went to dictate our destiny. rosalind: saudi arabia has c

gross gambling refuse news in all of macau rose in all three months of the quarter so a tail wind.d came out with strong numbers for wind properties. the stock is moving up right now, about 1% right now, and the earnings call will be up in about half an hour. we will be on it. back to you guys. >> thank you, dee dee. as she pointed out, you know, we talk about wind resorts yesterday. it is all about macau right now. >> it is, and the las vegas sands. >> that stock closed up 6% today. >> exactly. las vegas during the regular session was up more than 1%, well up more than 10% in the last two months. i think there's a lot of positive sentiment, people feeling momentum to that story. i think it is basically part of the same story from wynn. >> jack, do you like the gaming sector at all? it is high lick cyclical, highly economically sensitive but it seems to be coming back. >> certainly cyclical and consumer oriented. i don't have strong feelings for it. it is not really an area i track that closely. it is a china play certainly with macao and chinese trying to get money out of the coun

explain that to me why a guy who owns casinos at macau wouldn't want to have online gambling. >> he hasme of the best casinos, the bell auj oagiobell herben. his are greats. others like caesar's and a couple other chains doing less well. what they see as online to expand their brand. adelson is the only guy among the big casino owners pretty much who wants to p to the online gaming and he's joined by the small casinos. some of them the original ones that aren't luxury destinations in the poconos, so it's all about who is helped and hurt by the growth of online gaming. sheldon adelson is a ten pole in the coalition to stop it, and he's trying to get the white house and the trump administration to, you know, intervene there and try and crack down on it. >> money talks. follow the money. anyway, there's also perks for those who backed the president during the campaign itself like visits to the white house. last night, sarah palin, kid rock, ted nugent, there they are. nugent called for president obama and hillary clinton to be tried for treason and hung. by the way, the correct thing is ha

macau, continuing to rebound. that is showing up in the first quarter number. to the share price, down. nafta up, a tough talk on . is the white house ready to withdraw from the north american free trade agreement? we have the latest from new york. this is bloomberg. ♪ mark: it is time now for first word news. the white house today introduced the opening bid of president trump's tax proposal -- tax reform proposal. gary cohn speaking at a white house meeting with steven mnuchin, offering this summary. packagetax report is about growing the economy, and growing jobs. i started, president trump comes in every day and talks about economic growth, prosperity, and jobs and what we are doing to stimulate economic growth. mark: secretary mnuchin says the stimulate growth. the administration appears to be slowing efforts to push congress for funding on the border wall. mexico's foreign minister slammed the proposal, calling get unfriendly and a hostile as he says mexico will not totribute a peso construction and will proceed it is precededf upon. of israelitical milita

macau happy and excited they are. like lancers to attack a fort. >> this is the cavalry they were famous for. >> i don't know. >> the film seems to be building to the attack on this fort. how would you put this in perspective with the larger war? is it over exaggerated in this film? it was the climax of the film's story. he left shortly after this. as i said in late august. in september. once he got this, he came home. appreciate the stress and strain physically. cameraman especially. they had these heavy cameras and tripods. you can see that they had to set it up. it was an ordeal. the russians have a series of forts. this was one of the biggest ones. there is another one. that was further south. there is supposed to be a line to protect russia and poland. the one in the south was built in 1815. withstood theave artillery at of 1870. castles were often put a critical crossings, they were natural citadels. they could be easily fortify this way. stage the mentality is there. a lot of the russians knew it was a loser. >

on the first of the month, macau released casino data, very impressive. the recovery continues. the change in gambling intake. odis is your deflationary peri where we were coming off a high base. that's where we are. 18.1% higher year on year. the bottom is your bloomberg intelligence peer group, and to put this into context, 2010, when you saw this decline and gambling fall of 80% drop roughly speaking in returns on this group. , from about 60%, maybe that lopez in 2016. do we see this continue? galaxy entertainment showing signs of promise. q2,e get started for technical outlook on the hang seng index. 24,000 is your yellow line. we did not spend a lot of time on top of the level. guests a few weeks ago gave us this chart and said 25ium-term target is maybe 200, then they might reverse. a lot of this will depend on where we go with a-shares and h-shares. abated the hang seng index for the last 10-15 years, so an interesting session here. that is a bubble. don't pay attention to that. back to you. haidi: just stand in front of that. we won't look at that. that.you for let's get

firsti we have macau looking up and now yum china.viously a very good quarter. it's been a range bound stock since the spin off five or six months ago, and it is one of the reasons people like spin offs because you don't know what expectations to have. you can have an upside price like this. >> yeah, up by nearly 11%. we have a news alert on mgm. let's get to julia boorstin with that one. >> that's right. mgm is buying cable channel epix. approximately $1 billion. these companies are also making agreements to continue to bring their first-run movies to epix for several years. now, this deal was expected. mgm saying it advances its growth initiatives. viacom ceo saying as it executes its strategy it is an opportunity to strengthen the viacom balance sheet. lionsgate has been focusing on stars. since that acquisition it is another step for lionsgate to monetize non-core assets. having this cable channel fully owned by mgm. back to you. >> thank you. those shares a little weaker. anything you would add? >> exempt for the whole space is b