mark mobius, chairman of the mobius emerging opportunities fund.o come, our interview with goldman sachs asia financials research unit. here why they have downgraded indian banks to market weight as a sector. keep it here with us. this is bloomberg. ♪ thanks to avalara, we can calculate sales tax automatically. avalarahhhhhh what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh but home is also your body. —last one everyone. i asked myself, why doesn't pilates exist in harlem? so i started my own studio. getting a brick—and—mortar in new york is not easy. chase ink has supported us from studio 1 to studio 3. when you start small you need some big help. and chase ink was that for me. earn up to 5% cash back on business essentials with the chase ink business cash card. make more of what's yours. haslinda: welcome back. let's check indian markets just ahead of the open. it is opening in just

liz: mark mobius. history as the first former president to go to trial for criminal charges. this as true media and technology group stock djt is tumbling after announcing a massive new share issuance. what does this mean for the ceo legal bills, charlie breaks it next. we have the s&p down 63 points, that's worse than where we started, the nasdaq right now down to 87 and the dow is down to 56. charlie is up next. with your hearing, if you start having a little trouble, you're concerned that it's going to cost you money. to this day i only paid what i had to pay for the device... when i go back everything is covered. there's so much you're missing by not having hearing aids. we'll find you a hearing aid that fits your lifestyle and budget at one of our over fifteen hundred locations. call miracle ear at 1-800-miracle and schedule your free, no obligation hearing evaluation today. when you own a small business every second counts. 120 seconds to add the finishing touches. 900 seconds to arrange the disp

mark mobius saying anyone short on the yen, this is a losing battle for authorities. are at 1/5 the one. 152 is the line in the sand. as mark cranfield said, it could be anything and officials have been good about wrong footing traders. they might let the yen weakened before they do anything about it. that is all playing out. it last time we got intervention was 2022. previously it was 1998. nikkei has turned positive. down session yesterday. one narrative was this might be the end of the up cycle and china could be a beneficiary. we will see. hang seng catching up to and a quarter percent. shall mean is up 11 and a half percent. they unveiled their first model and orders went gangbusters on par with china. across asia the index is about 3/10 of 1%. china is hesitating, csi down for tenths of 1% after the pmi data out of china, not just the u.s.. korea is down, stickier inflation as well. india's them. in the stern to give back money, investors turning back to china. lizzy: a tour of asia, thank you, vonnie. dollar gain is yen pain, so let's dig into the dater out of

mark mobius singing it's a waste of time, trying to defend again.ca saying it's got the at 160. there's no indicator that this is out of japan's hands. garfield: yes and no. they did plenty of jawboning recently. the n pulled back from 152. they've drawn a line in the sand. the difficulty is, u.s. economic data is so strong that the rising tide threatens to completely obliterate those and other lines in the sand. in the short-term, japan has some potential to restrain the declines. let's face it. in a lot of ways, that's what they are fighting to do. restrain the decline. i think they would acknowledge that there's limits to what they can do precisely because of the policy divergence. that doesn't mean that it's not worth doing because of the concerns. if it breaks rapidly, above ¥152, then it could go to 160 or so in a heartbeat. we've seen the yen really motor if it gets a full set of green lights. so i think that also maybe even speaks not directly -- the fed's unwillingness to look at the really strong data we've had lately and say, you know wha

lisa: some people are betting that they've got no willingness or ability to do so including mark mobiushere is no way that the japanese authorities are going to do anything to strengthen the yen, that there isn't the appetite, there wasn't at the end of last week there would be going forward. how dangerous is it to bed at the game will continue to weaken despite some of the verbal intervention attempt that referred? -- that we've heard? >> a large market sentiment is already shifting from using the yen as a on the currency to moving to the swiss franc a funding currency. you can see that even today, where the swiss franc of the weakest of the major currencies and we also get cpi data from the swiss next week -- excuse me, tomorrow. they already cut interest rate on center think the market is hoping that will cut interest rates again in june. it comes down to rest-reward. is the risk-reward there to be adding onto short yen positions right now? i think the market is rightfully being cautious about it. i do think the boj will intervene. i think they made a tactical error by not intervenin