rose, you had to go to the new asia restaurant. it is for members of the public the grandest banquet hall in chinatown in city and county of san francisco that seats people and during the chinese new year and spring banquet and as family associations have their annual gatherings is packed every friday and saturday night with the chinese six companies and elected officials and guests who come from all over the country and during the week -- we contemplate that at some point this incredible restaurant will not only be rebuilt and live on for generations to come but above it will be 60 units of affordable housing. so with that, i want to thank mr. soh, the new asia gardens restaurant and all of the incredible sweet employees who treat us all like royalty and will treat all of you like royalty if you go into this facility. it has a storied history. it actually originally owned by the yick family was a light industrial manufacturing place before the yick family turned it into a restaurant which mr. soh and his family took over almost 20

772 pacific avenue, where you will recall we expended some $5 million to buy that site where the new asia restaurant is located and there we have an opportunity to build up to 80 units of affordable housing on top of a new asia restaurant. i've long had the idea to offer the air rights for development above fire station 13 for either affordable housing development or to fund housing development in the district. chinatown is feeling the pressures of the housing crisis and we've been looking for ways to fund the development at the new asia restaurant site. through a collaborative process, we've struck the proposal to maximum benefit to include fire station 13. i hate to use a proverbial term, but it's win-win. and i cannot think of a better way to kick off 2018's affordable housing week. i encourage everyone to find an opportunity to come and get involved in affordable housing week starting this friday when the council of community housing celebrates in 40th anniversary at the women's building. we'll be hosting a panel decision moderated on rose aguilar on upzoning with equity. i want to ac

what reaction could we have to that news in asia?ng-running, lots of people have been waiting to see a resolution here. it involved rio tinto exiting from grasberg and would see a local companiesdavid indonesiane the majority. inended about 3% higher trading in the u.s.. in trading in the u.s.. rio tinto in london. what they have been doing recently is extending a program. they have been handing some of that cash back to shareholders. the prospect for another big development, $3.5 million, some of that will be returned to shareholders should see rio perform well. i'm sure people will be looking at trading once rio opens in australia. betty: david, thank you. david stringer in melbourne. don't forget to check out our library for some of those charts you just saw. it is also on the bloomberg terminal. you can see at throughout the program. wti arecelebrate as sustaining levels last seen 3.5 years ago. both are up almost 20% this year. the data is why prices could rise even higher, despite the slight fall we saw today. ramy has this cha

money-losing korean unit and gm will not reduce its stake in the unit for ten years and establish a new asia pacific headquarters in south korea >>> bookings holdings reported first quarter earnings and revenue that beat forecasts as travel bookings beat 21% the company formerly known as priceline issued weaker than expected revenue guidance for this quarter shares are down by 6.5%. >> we'll see you in a minute, courtney see you soon >>> on deck, walmart's big bet on india we're taking a look at the company's latest $16 billion deal >>> and are you looking to sell your house there's a single best day of the year to list your home what day is that diana icolk has that valuable piece of news as "wex" rolls on. yeah, i'm afraid so. it's okay. this is what we've been planning for. knowing what's important to you is why 7 million investors work with edward jones. oh hi sweetie, i just want to show you something. xfinity mobile: find my phone. [ phone rings ] look at you. this tech stuff is easy. [ whirring sound ] you want a cookie? it's a drone! i know. find your phone easily with the xfinity vo

i'm is "daybreak asia," yvonne man in hong kong. betty: i'm betty liu in a new york. ing technology players. let's go to where chief asia our correspondent is standing by. we are talking competition with airbnb and china. is the main competitor of airbnb, much larger in china. we have the cfo with us at the goldman sachs tech net conference. executivesr and don't like being compared to airbnb because you are different. how so? >> they are a well-respected competitor in china, but we think we are the number one player in this industry in china. we are not just a pure online company, we have off-line operations. we have a local team in most cities in china to help local house owners to run their business. that is the big difference between us and airbnb in china. >> tell us how the market is different. maybe some of the foreign competitors would have more challenges because of the police registration process and some of the regulations. how does your local knowledge give you benefit? in china to thing do business is how to deal with the relationship with a permit. great,

new york. yvonne: you are watching "bloomberg daybreak: asia." s get some first word news with jessica summers. jessica: prices continue to rise on supply constraints and fears of trade tariffs. the factory and a to 57.3. the production measure dropped from 61 to 57 point two. that is the lowest since november of 20 -- of 2016 biggest decline in the year. u.k. manufacturing slowed more per expected in april area performance continues. pmi came in at 53.9. that is worse than economists had forecast. opec continues to overdeliver on production cuts. cartel pumps the 31 point 8 million barrels a day. and prices fell the most in more than three weeks as the dollar strengthened and traders that on another rise in u.s. stockpiles. it has been revealed that the investigation into alleged collection -- corruption in malaysia includes a fish in oil producer petra saudi. two people are suspected of criminal mismanagement, fraud, and money laundering. authorities are looking into allegations that more than $3 billion was diverted from 1mdb. the world health

ramy: i'm remy inocencio in new york, you're watching "daybreak asia." aul allen. north korea is threatening to cancel next months summit with the u.s. because of new american wargames with south korea. north south hotlines were canceled because of the drill. he is scheduled to meet president trump on june 12. preparations are going ahead despite the latest twist. >> we are operating under the idea and notion that the president's meeting is going forward with chairman kim next month. paul: dallas fed president robert kaplan has cautioned against speeding up the pace of interest rises. he says the fed should not knowingly invert the yield curve. meanwhile, san francisco's john williams says he is positive about the outlook both in the u.s. and abroad. he sees three or four hikes, as appropriate. >> it has uber three or four rate increases or as appropriate for this year as a whole and a few more increases. i view this to be the right direction for monetary policy. paul: gina haspel is said to be confirmed as head of cia after a democrat confirmed his suppo

slots rishaad: muted start for a new trading week. asiats struggling for direction. dollar-yen weakening through 111. united states says the progress made with china on tariffs are on hold. in hong kong, i am rishaad salamat. haidi: in sydney, i'm haidi lun. also coming up, the remaking of malaysia. the veteran prime minister must begin in every support, according to an official. this is "bloomberg markets: asia." ♪

this is bloomberg. ♪ betty: this is daybreak asia in new york.id a list in hong kong. he is in washington. joining us understand what we can expect from pham realistically -- from him realistically, we have our guest. generally, what expectation should i have for these next few days? >> i'm pretty optimistic. there's maybe some concrete result that can come out, at least to avert a trade were between china and the u.s.. it is quite clear that senior officials from china coming to america again just after two weeks of intense straight talks in beijing, there's something although they are probably concrete will come out. david: that they are in washington means they are prepared to give concessions to the united states, enough for the u.s. to back away. what do you think those gifts are concessions are? >> concession is probably mutual. both benefit from trade. that's why, in the u.s., there's already0 companies about u.s.ir concern tariffs on chinese goods. of course, a lot of companies will be hurt with a trade war. on the chinese side, chinese e

betty: this is "daybreak asia," i'm betty liu in new york. yvonne: i am yvonne man in hong kong. let's of the business flash headlines. t-mobile and sprint have stated their case for a merger. john ledger and marcelo clarity laid out the tire based on the announcement the company presented on april 29. it needs approval from the fcc and must clear antitrust hurdles at the justice department. the proposed merger four years ago was rejected. goldman sachs to pay about $110 million to resolve claims that foreign trade exchangers improperly shared information about client orders in rooms.nic chat the bank will pay roughly 50 family dollars each to new york's department of financial services and the federal reserve board. they will also provide regulators with a plan to improve internal control and compliance. betty: wednesday sees a big expansion in china's stock connect with hong kong. investors predicting greater volumes through the gateway. this up on quota will instinct to the equivalent of 7 billion

news overnight. haidi: we will wait and see for the details. thank you so much. the pimco head of the asiaific portfolio management in sydney. you can find in-depth analysis on the day's big news. 8:00 inm 6:00 a.m., sydney. you can download the apple are accessed via bloomberg radio. this is bloomberg. ♪ this is bloomberg. ♪ betty: a quick check of the folksss flash headlines, in international looking for acquisitions to gain a foothold in the north american tourism market. the chinese conglomerate told bloomberg they are interested in anything related to the sector from travel agencies and resort brands to recreational content for buyers. the owner of club med has launched a new line of chinese resorts. years, they are checking out of hilton. this largest investor had agreed to sell 15.8 million shares valued at $1.3 billion. blackstone will realize some $14 billion in profit, meaning it has tripled its investment. get a venezuelan vote update from caracas and find out how geopolitical tensions surrounding the oil markets. that is up next. this is bloomberg. ♪ this is bloomberg. ♪ haidi:

live now to dr tim bill who is a researcher and specialist in asia based in new zealand good to see you tim six pm where you are now a very good evening to you we're seeing a donald trump in recent days somewhat flip flopping over the north korea summit now we're seeing russia's foreign minister visiting pyongyang what why do you think it's sort of a love of is there right now. well of course hughes is answering the invitation from. north korea. russia has a very keen interest in what happens in northeast asia and it's important for him to be there he is the most experienced foreign minister in the world and so it's good news that he's going and might wonder why he has not been early and why there hasn't been some of the earth. but anyway he's there now and there certainly is you've got a washington's our language or in recent weeks or months donald trump saying he's going to bring fire and fury to north korea he's going to totally eradicate north korea on the other hand though you've got sol pyongyang china and others constructively working towards peace why is there such a disparity i

asia overnight. you have the hang seng down by more than 1% the shanghai was up about 0.6% xiaomi filing an ipo application in hong kong that's among the biggest corporate newsning out of asia let's check europe lower in the early going insurance, household goods were down the most in early trade slight gains of the ftse 100 just about flat. you have the xetra dax down about 0.2% the italy ftse mib is down about 0.4% a lot of watchful eyes in the european union about the trade talks in the u.s. and asia and china as well. >> as for the broader markets, check out oil prices we are seeing a bid this morning. wti crude, that u.s.-based benchmark, $68.14. that's about a third of a percent to the upside. brent you'd futures, up bay quarter percent as well. as for what's happening with the dollar, we have seen near term strength, a bit of a pull back today. euros have tallefallen eurozone inflation had slipped a bit in april gold prices, let's look at those. we are now moving on gold, up 0.2% 1313.80 the last trade on gold joining us now on the cnbc news line is guy adami. good morning to you. as we talk about earnings season, we're in the waning hours, if you loo

asia. that is at 10:00 a.m. sydney time and 8:00 new york time.et's get the first world news with courtney collins. to lower china is tariffs on a wide range of consumer goods on july 1, including duties on clothing and footwear, washing machines and other. goods and beauty products the decision comes after a meeting from the state council, and follows president trump's announcement that he will proceed with measures against chinese imports. the u.s. commerce secretary says washington is concerned that the wto and other international institutions are too rigid and slow to adapt change. he told the oecd in paris the trump administration would embrace multilateral funding if disputes and failed to move faster. the president is due to hit europe with new tariffs, he said. organizationsal said here's a list of 10 things we must do right away. that kind of approach, as opposed to study groups proliferating more study groups is the kind of thing that gives us very great concern. courtney: china is accusing the trump administration of damaging its credib

this is bloomberg. ♪ betty: this is daybreak asia i am in new york. kong with the trump administration set for a second day of talks in beijing. it is what the white house calls a positive start to negotiations. it seems like things are going well for day one but they too -- gaptwo, america's trade with china widened 16% and there is also soybean data showing that china may already be in sight u.s. shipments. things about to get complicated? >> certainly, it is very complicated. we are seeing the effects already of these trade tensions. weather, it is the soybeans are the more needed effects on china's exports. looking atists are posted state of points suggesting that it is largely part of the trade tensions. these impacts are starting to play out for both sides. that is why these talks are so crucial. bothurse, overhanging sides of talks are these threats of delays of dollars of tariffs. the chinese are saying that they will tell you. -- retaliate. we heard from an economist in washington say they were followed -- fairly positive. the administration

how are markets across asia likely to react to this news?: wall street pulled back from they initial deep dive on the back of trump's letter canceling the summit. that subdued reaction is due to the fact that noise around this situation is not entirely unexpected. investigators are starting to live with that. peninsula, either they are used to hard-core rhetoric on this sort of thing. it is common to them and they have become a nerd to it. -- inured to it. australia futures market showing probably reflecting the weakness we saw on wall street. australia also have banking sector worries that have been dragging out for some time. have beenur banks hugely underperforming. so it is not just a global plague dragging them. lower opens across asia. betty: is there a risk of more volatility? james: yes, i think there is. chart we putt this shows after the extreme volatility at the start of the year, the market called down.- calmed in may, investors have come back that backs on -- put on. we have some issues that have not fizzled to the surface and t

haidi: let's get a quick update on your markets as trading becomes underway in asia. newnd, we are seeing trading in the early hours. this is what we are watching. pretty much flat when it comes to kiwi stocks. those chorus of voices going short on the kiwi getting ever louder as the yields of the premiums over the aussie. the aussie dollar at 74.72. broadly, a third day of gains for the u.s. dollar, hitting another high for the year. the japanese dollar-yen holding. sterling falling to its weakest in four months ahead of the bank of england policy rate decision. the u.s. 10 year yield inching higher, almost up 3%. jamie dimon says 4% is a possibility. actually beyond 4% for the 10 year. we did have a topsy-turvy session as markets react to the iran nuclear deal decision. the u.s. withdrawing from that, setting up volatility going into asia. let's get more on what to be watching with david stringer. we will start with president trump's announcement on iran and how that will be playing out not just for oil but for will commodities. david: good morning. a lot of eyes will b

asia will be and so. we're going to be are now moving to a new show well asia those areas where you see especially in that little purse business there you see a lot of hard to move into africa countries. but so were the while the first small talk and the start to establish our presence was closer to the market. can chinese tomatoes are cheaper than fresh tomatoes grown in ghana. so purchasing chinese tomatoes destroys the local market. i find in the morning hundreds of workers head to the tomato fields of southern italy. most come from africa their journey across the mediterranean ended here. to survive they have no choice but to harvest tomatoes. mussa semen and mohammed so late man came here from sudan in search of a better life. they've been living here for a few years already often working under the most difficult conditions so nobody to the media. i met at libya with other migrants landed first in sicily and found how difficult it was to get work. on up this is the only work we can do that's all. illegal without a contract but you know always off the books it's not on the same to the level of an adul

betty: and i am betty liu here in new york, you are watching daybreak asia. ews now with paul allen. betty.hanks, president trump says he will meet with kim jong-un on june 12 in singapore tweeting that both will try to make it a special moment for world peace. singapore has security partnerships with the u.s., the north korean embassy, and strong china.ith trump made the announcement after greeting three u.s. citizens free to by north korea, calling it a conciliatory gesture by kim jong-un. president trump says five top leaders of the so-called islamic state group have been captured, caught on a complex cross-border operation carried out by iraqi and u.s. intelligence. it is said that the three-month operation truck the groups hiding in syria and turkey. one of the people captured is described as a top aide to the leader, al-baghdadi. wage growth is set to be slower than the previous decade because productivity gains have been slower. the chief economist has said that that speed limit for which growth used to be 4%, but it is now about 3%. he also says, the s

few years before the war broke out, japan announced its official policy what it called the new order in east asia. this was that idea of ordering east asia around japan in the center. japan leading this united walk. once the war broke out in 1941 in japan it was referred to as the war for asian liberation. this was that second component of the ideology where the asian union would then oppose the western forces. hopefully if you were in japan -- as it turned out this new order was every bit impressive any old order has been. in theory, asianism had hoped to liberate east asian nations from western imperialism. when tokyo trial came around, asianism played a central role. the point being that if okawa stayed on trial, if he not been removed from the mental hospital and broken down to see my grandfather, he would have received the harshest possible punishment. the best comparison we can make is to the nazi alfred rosenberg who after the trials were hanged. what i liked about this structure point of view as an author it reduced the immensity of world war ii down to just two individual lives. there li

only a chance how trump and can meet in prison of course china wants to be part of a possible new orleans east asia and they definitely don't want the us army to be in north korea but china wants a peaceful solution so china sabotaging the talks seems not to be likely josh back to you in seoul where things go from here is south korea in a position to pick up the diplomatic all. they do say that that is their intention they will call it between foreign minister here and u.s. secretary of state on paper this morning where they retire or together to try to get things back on track with north korea that being said. as things this past week eric illustrated a lot of issues are outside of south korea for coal including predictable leaders both their accounting washington so where this goes from here is far from certain. thanks so much josh smith there in seoul and félix lee in beijing thank you both very much. now let's catch up on some of the other stories making headlines around the world today at least seven people have been killed in a car bomb attack in the libyan city of benghazi a bomb exploded on

the bloomberg news asia tech reporter. can they really sell to the rest of the world?lready selling to the rest of the world, just not in the u.s. and not in the u.k., but they are definitely all over india, indonesia, southeast asia, and different parts of europe. francine: i have a phone here which i grabbed for my associate producer. if you look at the iphone and xiaomi, xiaomi is much cheaper than the iphone and has some great features. is there some concern that people are listening in? are people concerned because it is chinese made? shelly: that is definitely the concern as they try to expand internationally. while they have been doing really well in china and india, the question is, will people still want these kinds of phones when you get to a market where people are apple loyalists like the u.s.? tom: i look at the market share from idc and i do not get it they are a third or fourth mover at best. we know the studies that apple has whatever market share it has now is the second player with all of the profits of the industry. do we have any clue to this ipo of

new york. yvonne: i'm yvonne man in asia.edged fed inflation is close to target without indicating any intention to veer from the path of gradual tightening. growth in the first quarter, removing and reference in the first statement that the economic outlook has strengthened in recent months. they balance that out by noting solid growth in business investment. starbucks has settled with two blackman wrongfully arrested -- two black men wrongfully arrested and promised to pay for their college education. they settled with the city for a symbolic one dollar each, and the promise of a $200,000 program for young entrepreneurs. starbucks has called the arrest reprehensible and closed thousands of stores for staff training. trump's lawyers says they are still open to him giving an interview to robert mueller, despite a key departure of an advocate. rudy giuliani spoke as the president's legal team challenges unfolded. ty cobb is being represented -- is being replaced by a lawyer who represented bill clinton during his impeachment h

new york stock exchange. and on the markets — trading right now, asia, all higher, as you can see.rybody has a close eye on the white house and its announcement on the iran nuclear deal. later today. the future of air france is in the balance after the company lost nearly a tenth off its value on monday. the markets reacted anxiously to comments from france's economy minister, bruno le mair, over the weekend, who stated the airline could disappear unless a pay dispute was resolved. the french government owns 14.3% of the air france—klm parent group, but has repeatedly said it won't bailout the troubled airline.

tuesday the plane disappeared in twenty fourteen with two hundred thirty nine people on board well asia's new prime minister mahathir mohamad says the search could resume if new evidence is found. in. this program all over that were. not on any. so we had to come to is this the. people on the city put in that. but. as. we have to. live now it's a difficult balance is joining us from malaysian capital kuala lumpur it's been for years the view on the government's had called the search off before is this really the end. that is the question doing and as you said there was a time after malaysia china and australia had launched a full fully fledged search they called it off saying that they hadn't found anything significant but malaysian families are families of those on board the plane had pressured the malaysian government and they restarted the search now this time it was a ninety day contract with an american exploration company which is said to be using some of the latest most modern equipment in undersea exploration this deal with that company has just come to an end it came to an end techni

asia." i am remy innocence you in new york. yvonne: i am yvonne man in hong kong. how good medical up 136 percent. even so, the maker of invisalign remains a small player on the index with annual sales of $22 billion. joining us more to talk about their prospects, the align president joining us from singapore. thank you for joining us on the program. invisalign has become a household name. revenue coming you have doubled in just three years. you are taking off in the u.s. and china. you seem confident about where growth is growing. what is driving that? technology has gone to where we can do more cases, 70%, which used to be handled with wires in brackets. we are going a lot of -- a lot wider, internationally. europe it has been between 30% to 40% and above 20% in the u.s. ourave good demand for product line and drive it with better distribution and better technology. yvonne: can you break it down further? i want to take a look, market by market. which do you expect to grow in and who are your target customers? joe: we expect it will be an interesting answer, we ap

asia. on betty liu in new york. not the only focus in washington. 21 members are preparing to meet and papa new guinea next week. they are hoping to bridge differences in policy and finding common ground to capitalize trade agreements. we are joined by alan bullard the head of the apex secretariat. why are we calling this a pivotal meeting? alan: it is happening at a very important time for all of us. we're hearing a lot about u.s. and china, there is a very big trade machine and a lot of people whose livelihoods depend on this in the asia-pacific. that is what our focus will be and we will continue to keep pushing portrayed. free ando talk about open trade, now more and more we are also saying it has to be etc. soste, inclusive, we are more fussy about what we are talking about, but trade is still the important driver in this region. of allwhat do you make the back and forth that we are hearing out of washington and the latest being this morning that china is that to have offered the u.s. that they will look to cut

asia business report. project derailed, malaysia's new prime minister has announced he will scrap the project to build a high—speedrk to singapore. the route would have dramatically reduced travel times between the two neighbours, but the prime minister, who won a surprise election victory earlier this year, said they would not make money from it. katie silva joins me now. what's the reaction from singapore, have they been informed? it appears they were not informed? it appears they were not informed ahead of time. that is what the head of transport has said here. last night he made similar comments. what is this high—speed rail is supposed to do? it was a 350 kilometre path that was meant to link kuala lumpur to singapore. 90% of it is in malaysia, and it was going to cut the journey from five hours overland to 90 minutes. it would make it a lot shorter. the issue is, the cost. it will cost about 15 billion us dollars. last night those comments were made at the press conference and it came down to the issue of cost against return. construction was about to start? it was, but this is what he had to say. this will

asia. it is pointing negatively downward. new zealand down 3/10 of 1%.aiting for that rba financial stability report. .6899.llar, these risk commodities currencies getting hit by risk assets and oil selloff story as well. taking a look at sydney's futures, not looking like a pretty session as we get underway in australia. let's get underway with the first word news. jessica summers. jessica: china says it is surprised president trump decision to push away with tariffs. the u.s. will impose $50 billion worth of imports from china. it will also curb investment in sensitive technology. that is just days before the commerce secretary is due in beijing for more talks. the white house has a final list of targeted imports which will be released by june 15. soros says the rising dollar in capital flights may trigger another financial crisis. he says the insurgency around the iran nuclear deal and the weakening of the u.s.-europe economy could block its very existence. at thewarning comes italian bond yields goes to a multiyear high from political gridlock in rom

agreed to limit its right to sell assets or reduce a stake in the unit for ten years and establish a new asiaacific headquarters in south korea. >>> booking holdings reporting first quarter earnings and revenues that beat forecasts as travel bookings rose 21% the company, formerly known as priceline, issuing weaker than expected revenue guidance for the quarter. that stock is off by 6.5%. >>> back to the markets. joining us is karen calf knew, senior market strategist at voivoi voya investment management i'm trying to figure out how to put it to you. i was thinking about what happened overnight and the geopolitical issues. do you care about any of this stuff in the market? >> trade policy will matter for companies if they're affected. what's going on with oil will matter >> is that entering into your work right now >> if we look back to world war ii, geopolitical shocks, things that happened with the koreas have been temporary. unless they drove a complete turning point for the world, the arab oil embargo in '74, those cases have meant very little >> so what are you doing >> earnings went up

insisting on new conditions or else threatening to restart its reactors france's foreign minister says the deal is not dead as european countries work to salvage the agreement also coming up in asia has seen the emergence of a new power blocs to rival the united states.

asia. play . good news live from berlin suicide bombers target churches in indonesia second largest city police say it was the work of one family including their children of these thirteen people have died in the attack and. dozens more wounded also coming up. u.s. officials including president trumps daughter.

the new owner lives in southeast asia. the jeans were only worn a few types. they are in mint condition for being 125 years old. what's even more remarkable is that two years ago, nobody wanted to even look at them. let alone spend $100,000. >> i think it had a 44 waist. a big boy back then, getting your money's worth. "saturday night live" is next. it's the story of our nation. john chiang's father came here with little money, but big dreams for a better future. now john has a chance to make history. a champion of the underdog, john took on wells fargo when it ripped off working families. and against the odds, he helped saved california from financial disaster during the great recession. ...leaving more to invest in progressive priorities like education, healthcare and affordable housing. john chiang. the proven, progressive leader we need for california's future. [ cheers and applause ] >> i don't know. i don't know, mr. vice president. i feel like i say this every week, but this week was bad. i'm beginning to regret my wish to become a real boy.

asia capital about the outlook. politicians say battling corruption is a top priority for the new government. is is bloomberg. ♪ ♪ >> you are watching "bloomberg markets: asia." i'm david ingles. >> i'm haslinda amin. malaysia has given its full support to the current premier. he was freed from detention on friday and given a royal pardon. he spoke to me about the warning that handing over power could take up to two years. >> no, i don't. i think it is fair to suggest that it should be given ample he wouldn't be at risk. he would be given all the , in a week ible have spent a lot of time with him and have expressed some of and he has been kind and said he took this into account. >> do you see him being put behind bars? can't predict what will happen. i think due process will have to take place. he was responsible for the second incarceration. it wouldn't have happened if the judiciary was free. level, ipersonal forgive him. i'm not going to pursue that against him, the crime committed against me. what he squandered for the people, he has to answer. . >> realistically, how much can current gove

asia's new prime minister -- malaysia's new prime minister said he will cancel high need railway to singapore. the move signals a return to rocky ties between the two countries. the decision deals a setback to rail companies in asia, including those from china and japan. the russian billionaire owner of chelsea the ballclub has reportedly he come an israeli citizen. that comes one month after the and delayed his visa, diplomatic tension between london and moscow. withoutravel to britain a visa and can stay for six months. global news, 24 hours a day on air and at tic-toc on twitter, powered by 2700 journalists and analysts in more than 120 countries. you can find more stories on the bloomberg at top . asia, we markets in are seeing selling coming through across the region. asian stocks falling with japan down for a seventh consecutive session. the nikkei off by 0.9%. the yen is higher. where have that impact you do have a number of markets closing, including singapore, malaysia, and thailand. vietnam is recovering. having a look at stocks we are watching in the region, we are seeing softb

coming up on daybreak asia, chinese stocks will soon reach a new milestone with inclusion on some keye consequences of that inclusion. this is bloomberg. ♪ yvonne: this is daybreak: asia. betty: malaysia is in uncharted waters as the new government takes shape. the party alliances under scrutiny -- the appliance -- the party alliance is under scrutiny. tell us about the developments so far. energy and excitement following the shock election win we saw on may 9. in the wake of that, we have seen some updates regarding plans for the abolishment of the tax.the consumption in the crosshairs as well is 1mdb, saying he will reopen the case into the state investment fund. we are waiting with great anticipation to test for the reopening of markets -- for the reopening of markets. i'm joined with the head of malaysia research. thank you for joining us. we saw some knee-jerk reaction when it came to the offshore markets. this morning, we did see a drop in the ringgit, the most in 16 months, trading just below that four handle against the dollar. what is your justification? >> if you did not bel

new guarantees or else threatening to restart its reactors german chancellor angela merkel vallance european partners will do all they can to keep iran on board the nuclear agreement. also coming up is asia seeing the emergence of a new power block to rival the united states the leaders of china japan and south korea gather for trilateral talks in tokyo. i'm sorry kelly welcome to the program and we will have more on those stories in just a moment but first we begin with breaking news because the u.s. president donald trump has tweeted that north korea is releasing three american citizens in captivity he said that the three detainees appear to be in good health trump said that the men are returning home with secretary of state my pompei o who is wrapping up a visit in yang and we're going to get some more on that now we're going to head to correspondent josh smith who is standing by with the very latest he is located currently in seoul welcome to you josh what more do we know who are the americans who have reportedly been freed here. so there are three korean american man two were taken prisoner last year and another one was detained by the north koreans in twenty fifteen they were in no

new york to make the case for blockchain. haidi: hello from sydney where it is fast a 5:00 a.m.. i am haidi lun. we are two hours out from the open of asia's first benchmark it. betty: after 6:00 in new york, i am betty lou. we will be looking at how all the action on wall street will play into the asia-pacific trading day. i think we will be watching bitcoin this week, blockchain theory we will be watching for the price of that coin. we did and friday with a slightly bullish note. the dow is up 91 points, the s&p higher. tech shares still waiting on shares overall, but the dollar was steady. the s&p for stock market ending the week as i mentioned on the bullish tone at least a little higher. some of the panic also. that seemed to soften as well. overall it seems to leave investors more optimistic closing out the week and going into this week. lookingnflation fears better. when you look at north korea, we have another set of potential trade talks continuing in washington with the vice premier of china visiting. take a look at the set up in asia. let's pick it up with new zealand, where trading is getting underway. watching for the biggest

asia". let's get the first world news with paul allen.n to a historic victory, the new prime minister will be sworn in. the ruling party for the first time since independence in 1957. he has promised to stand down and jim opposition leader as prime minister after he is released. in june,l be released forthen we will work parliament, and he will become a minister again. but he will have to stand for election in order to become a member of parliament. at&t companies including and korean aerospace are under scrutiny after claims to put money into the account of donald trump's lawyer and longtime fi xer, michael cohen. novartis has confirmed paying michael cohen over a million dollars. president trump's nominee for cia director has told the senate intelligence committee she doesn't believe torture works and will not carry out any presidential order she thought was immoral. following 9/11 attacks, gina haspel on a covert cyber terror suspects were broadewater boarded. law itfollows the follows the log dan and we followed the law today, i suppo

few years before the war broke out, japan announced, as official policy what it called the new order in east asia. this was that idea of ordering east asia around japan in the center. japan leading this united wall. once the war broke out in 1941, in america, most people called the pacific war in japan it was often referred to as the war for asian liberation. this was that second component of the ideology where the asian union with that oppose the western forces. hopefully, if you are in japan, liberate them. this new ordert, was every bit as oppressive as any old order had been. in theory it hoped to liberate east asian nations from western imperialism but in practiced japan moved to the nation under the guide of liberation and simply replaced any western that had been there. with rather brutal japanese rule. so, when the tokyo trial came around they played a central role in the allied argument against the war crimes suspect. the point being if he stayed on trial he had not been removed to the mental hospital, not either broken down in the middle of court or deceived my grandfather by faking it,

new york. yvonne: i am yvonne man in hong kong. you are watching "daybreak asia ." d the addressed president trump's decision to pull out of the iran nuclear program. the u.s. will reinstate sanctions on the islamic republic, that will open an uncertain new chapter for the middle east. deal, negotiated under the obama presidency, horrible and one-sided. pres. trump: at a time when the united states had a -- had maximum leverage, this disastrous deal gave this regime , a regime of great terror, many billions of dollars, some of it in actual cash. a great embarrassment to me as a citizen and to all citizens of the united states. iranian atomice energy organization to be ready, so if necessary, we can begin our industrial enrichment without any limitations. until implementation of this decision, we will wait for weeks and hold talks with friends and allies and other signatories of the nuclear deal. those who remain loyal to the deal will talk. >> malaysians go to the polls on wednesday. prime minister najib razak is it seeking a solid victory to move beyond a corruption