i am paul allen in sydney. >> we are counting down to asia's market opens. paul: here are the top stories we are covering in the next hour. china threatens a strong response to president trump's huawei ban. america, tom inside o. nike and adidas called the trade war catastrophic. asx 100 sees its biggest decline in a week. effect. ripple how the trump administration chokehold is reverberating throughout the supply chain. that of course had an effect on u.s. stocks. semi conductors leading declines in today's session. the philadelphia semiconductor index plunging 4% for a third session. it did not help that president trump came out in an interview and said he was very happy with the trade war with china and that china would not become a superpower under his watch. we saw the nasdaq falling the most in a week. s&p futures at the moment are higher, .2%. >> we are bracing for a down day. it's looking more like a mixed session with nikkei futures looking higher. global supply chain woes over huawei, tech shares and chinese retaliation. the rally may be losing stea

i'm paul allen. shery: i'm shery ahn. we are counting down to asia's major market open. ♪ paul: here are the top stories we are covering. wall street tumbles as china hits back on tariffs. president trump warns beijing not to go too far. stocks fall the most since january. investors seek safety with gold up the most since february. the yen has strengthened in early trading. oil dropping for a third day and the racing earlier gains sparked by new tensions in the middle east. shery: later in bloomberg technology global link, uber suffers another day of selling. the stock down about 20% through its first four days of the market. islook at how the ceo selling the broad game. stocks losing more today as they did in the whole of last week. the dow lost more than 600 points. we saw stocks that are trade sensitive such as caterpillar and apple losing about 5%. more than 450 stocks lost ground on the s&p 500 which fell 2.4%. tech and industrials leading the decline. nasdaq testing the biggest decline of the year. 10 year treasury y

i am paul allen in sydney. shery: i'm shery ahn new york. ie: i'm sophie kamaruddin in hong kong. we are counting down asia's major markets open. ♪ paul: here are the top stories we are covering. wall street recovers as investors welcomed an apparent truce in the trade war. chip stocks bounce back from a 4% plunge but the pressure is still on. huawei says it has a range of answers to president trump's been. china says it will win the tariff battle. theresa may rolls the brexit dies one last time and gambles on a possible referendum. shery: we have a big interview coming up. we will be joint exclusively by st. louis fed president in one hour. let's get a quick check of the markets close on tuesday session in the u.s. the s&p 500 gained. most sectors in the green. semiconductors rebounded for the first time in four days after that 4% selloff. we saw some relief coming from the u.s. of these temporary u.s. customers. they rely on business with huawei. we have some stocks in the red. ugly firstn some quarter department store earnings. kohl's and

i am paul allen in sydney.m shery ahn in washington, d.c. aftert shares fell first-quarter earnings. the ride hailer is rejecting a second quarter revenue of up to $810 million, exceeding the $782 million analysts had forecast. lyft also reported an eye-popping net loss of more than $1 billion in the march period which is more than its loss in all of 2018. joining us now is david kirkpatrick. always great having you with us. at first glance, it seemed like the numbers were good. and then you dig into the numbers and investors did not like what they see. what stood out to you? david: what's that out to me is the company is losing an extraordinary amount of money. even though on the call with investors, the cfo adamantly said they see themselves on a path to profitability, i personally have a hard time seeing it. think of it this way. they lost nine dollars per share and the stock is that $60. is that a stock you really want to own? it sounds like an awfully big loss for a company that is just trying to get its f

paul: what come to "bloomberg daybreak: australia," i am paul allen in sydney. shery: i am shery ahn in new york. ophie: i'm sophie kamaruddin. we are counting down to the market open. paul: here are the top stories we are covering in the next hour. wall street rose a third day thanks to solid earnings and strong housing data. trade tensions remain high. still in store, the largest losing streak since the year 2000 as prime minister theresa may agreed to a timetable to resign. election,fore the aussie dollar under pressure amid the ongoing trade war. shery: let's get you started with a click check of the markets closed -- a quick check of the markets close in the u.s. we saw a rebound in risk assets. every sector on the s&p 500 was in the green. we have solid earnings from cisco and walmart, lifting sentiment. not to mention that we have strong housing data and that really lifted sentiment across market. we also had yields higher with a 10 year yield hovering around 2.4%. still, anxiety continues out there over the latest trade headlines. it was not that surprisi

tom: i am paul allen in sydney -- paul: i am paul allen in sydney.he s&p 500 today gain was the biggest in more than a month. .ue in part to president trump su keenan joins us now. that news is coming after the bell. as good of news as we thought on deeper readings. su: the idea of kicking it down the road is something the markets seemed to embrace. thee were some realities in market that there would be changing headlines on the trade front. there was also some i speculate bad economic news -- unexpectedly bad economic is for the u.s. and china. the snapshot was we saw the media and entertainment sector of the most. .utures are mostly flat that is because we are seeing the tensions ease. as is the overarching headline. let's look at some of the big movers and what you see are various different stocks and different stories. different gainers and losers. this put pressure on the stock. hoover -- lyft and uber both rebounded. the drivers for these auto sharing services are contractors, not employees. that alleviates investor concerns about who would pay

i'm paul allen in sydney. shery: i'm shery ahn in new york. you are watching daybreak australia. : trade tensions and market nerves top the agenda today. washington confirming it will raise new tariffs on china on friday amid frustration that the pace of negotiations. robert lighthizer spoke even as the chinese team prepares to fly to the u.s. for the next round of talks. to assess the implications, max baucus, former u.s. ambassador to china and a member of the senate for 36 years as well. ambassador, in your experience with china, how can you see a way forward on this trade deal considering treasury secretary steven mnuchin said it was not a percent done? reluctance by the chinese on intellectual property. mr. baucus: i'm reminded by a chinese saying that all negotiations last into darkness. both sides are prostrate -- posturing. the president is posturing, i think, with his threats of tariffs. the chinese may not come after all. both countries definitely need an agreement. trump does because he wants the stock market to go up, not done. xi wants to look strong in china and show

i am paul allen. sophie: and we are counting down to the open. ♪ paul: here are the top stories we are covering in the next hour. u.s. stocks tumble to the lowest since march over deepening fears of protracted trade wars with china. , a signal ofore looming recession. rainfall affecting wheat. anchor: and we have breaking news out of the u.s. we are hearing from the treasury department, releasing their semi annual report. they have reframed from naming china a currency manipulator, something they have not done since 1994, and they have expanded the list of u.s. trade partners under review to 21. when it comes to the watch list of these fx reports, it is italy, ireland, malaysia, and vietnam now on the monitoring list. also, the u.s. says the nine countries require close attention on currencies. they are also saying there are no major trading partners that are a currency manipulator, and what is interesting right now is that the u.s. has lowered two thresholds for the manipulators. they have three crite

i'm paul allen. this is bloomberg. our regional benchmark, equity benchmark at the midpoint of the session. we are being generous in calling those gains. that's last year on u.s. futures were coming,. pullingan see, china is on this benchmark to the extent that, if you look at the chart, we have now fallen below this key level that the mliv blog flagged. let's get the chart up. now is where we are right on the benchmark. there's your chart. we are now about one point below. let's have a look at what's happening in tokyo. trade talks are underway in tokyo as president trump sits down with the prime minister, shinzo abe, trying to resolve the impasse. >> these talks take place in tokyo, where our north asia correspondent is. what is likely to happen? you have a guest with a lot of press capacity. what we do know is that there won't be a trade deal necessarily announced during this state visit. what is happening is the continued relationship building between shinzo abe and donald trump. donald trump arrived saturday, late

paul: welcome to "bloomberg daybreak: australia," i am paul allen in sydney. emily: -- ♪ ed: >>>> -- here the top stories. the treasury keeps rolling with yields at a 20 month low. the shares is the risk could justify a rate cut. beat sales estimates but suffers a loss, the largest of any public company. part of australia -- one of australia's biggest energy companies says it once to protect itself from the trade war. we bring you an exclusive interview. shery: let's get you started with a quick check of the markets here in the u.s. stocks rebounded after falling to the 12 week low. we saw the s&p 500 gain 2/10 of a percent. we had a series of data coming out that shows that the economy was on solid footing. 2/10 of ained percent. we saw technology stocks leading gains with the nasdaq of 3/10 of a percent. below that was still level. we have the energy sector weighing on the index. wti is falling 4% in this session. we saw a smaller than expected drop in u.s. stocks. we are continuing to see some tensions over trade, so not surprising that we continue to see t

i am paul allen in sydney.r away from the market open. >> good evening from bloomberg's global headquarters in new york. i am kathleen hays. sophie: i am sophie kamaruddin in hong kong. welcome to "daybreak asia." paul: our top stories this friday, president trump turns up the trade war heat. he says while he is dangerous and may have to be included in any talks with china. asian stocks are set

i am paul allen. shery: i am shery ahn. kamaruddin. sophie we are counting down to asia's major market open. paul: here are the top stories we are covering. the dollar strengthens as scott morrison cools off the win. they are seem as the better economic bit. thes in india, suggesting ruling party could get a majority. a rare rebuke, toyota criticizes president trump on auto tariffs saying its massive investment isn't welcome in america. you looking att the markets, we saw u.s. stocks falling for a second consecutive week. the s&p 500 falling for the first time in four days, tech stocks taking the brunt of the selling last week as we continued to see trade tensions around china and huawei. we have chipmakers feeling the pressure. the nasdaq was down 1% as we see headlines around the band of why way into the u.s., not to mention steelmakers were feeling the downside pressure as the president removed his steel and aluminum tariffs on canada and mexico. look at what wti is doing, in the last session falling toward $62 a barrel. crude is gre

i am paul allen. shery: i am shery ahn. sophie: i am sophie kamaruddin. we are counting down to asia's major market open. ♪ paul: here are the top stories we are covering. act now, president trump wants china to strike a deal on trade because worse could be on the way if he is reelected. uber will be in the spotlight when wall street opens. investors bracing for another tough day. australian elections swing into gear with scott morrison appealing to the country [indiscernible] shery: u.s. futures are trading after a weekend of trade antagonism tween the u.s. and china. futures are down .7%, reacting to the latest from donald trump. he tweeted china broke the deal, that we are at the right place, where we want to be in china. we have the u.s. markets closing optimism tradead negotiations didn't completely breakdown. 10 out of 11 sectors on the s&p 500 gained ground, being led higher by utilities and materials. we also have the dow gaining .4%, the nasdaq unchanged but we have data out of the economic front. we saw the dollar falling to session lows and u.s.

i am paul allen. shery: i am shery ahn. sophie: i am sophie kamaruddin. we are counting down to asia's major market open. ♪ paul: here are the top stories we are covering. wall street recovers as president trump strikes a more optimistic tone in the trade. the dollar strengthens and treasuries fall. the new york fed president sees on effects from the trade war but john williams says there is no need to cut rates. >> i think the policy is in the right place great i don't see a reason to have a bias upward or downward. paul: nissan hits rock-bottom as profits go to a decade low. we will look at the road ahead with the plan stuck in neutral. shery: let's look at how the tuesdayclosed in sessions. we have them coming off of the worst selloff in four months to gain ground with the dow up .8%. that rally faded into the close, still big exporters like caterpillar and boeing were able to reverse some of the losses we saw monday. tech also have gains on the s&p 500. we had energy up, oil gaining ground after we heard some drones had hit saudi arabia's main crude pi

i am paul allen in sydney. we are one hour away from the australian market open. 'm shery ahn. sophie: i am sophie kamaruddin in hong kong. welcome to "daybreak asia." paul: our top stories this thursday. fanning the flames, the u.s. debates that listing more chinese tech companies. beijing's slams what it calls an american -- american smear tactics. the s&p

i am paul allen.lor: i'm taylor riggs where it is 630 to your watching "bloomberg daybreak: australia." let's get an update on first word news. we start with fed chairman jay powell who said u.s. inflation is possibly being held back, but what he called transitory -- by what he called transitory forces. though biased toward tightening or easing. he spoke after the fomc left rates unchanged, adding that the fed's current stance is appropriate and there is no strong case for moving in either direction. powell has been attacked by president trump for not doing more to support the economy. >> the weak first quarter performance was not expected. i do not think is related to anything we did in terms of raising rates. it appears to be more -- we do not know this but you never know until with hindsight. some of it does appear to be idiosyncratic. su: meanwhile, a gauge of u.s. factories fell after --/month to the weakest level since late 20 16 signaling manufacturing headwinds have extended into the second qu

i am paul allen in sydney. >> good evening from bloomberg's global headquarters in new york. i am taylor riggs. sophie: i am sophie kamaruddin in hong kong. welcome to "daybreak asia." paul: our top stories this friday, asian stocks face another mixed day as investors await april's payroll numbers. all you will be light with japan and 10 on a break. -- china on a break. despite encouraging noises from the u.s. and china, the trade talks have had a problem. we are live in beijing. taylor: i want a quick reminder on how the u.s. stocks ended in a mixed session. we are having to reset from where we were after getting some comments yesterday from jerome powell. markets have been pricing in that the next thing we would see is a cut. that may not get the case. -- either the case. we could get a hike. out in thet play bond market with your getting a lift as we are pricing in if we hike.get a futures looking unchanged to slightly positive as well as we are coming into the end of the u.s. earnings season and things are starting to look a little bit better than expected, but of course,

this is bloomberg. ♪ is bloomberg. ♪ paul: i'm paul allen and sydney. are about to open from trade. shery: good evening, and shery ahn. sophie: i'm sophie kamaruddin and hong kong. welcome to "daybreak: asia." >> [speaking a foreign language] paul: our top stories this s stance to find. he spoke -- we will speak exclusively to him. >> i will ignore trump. then who can he negotiate with? if he calls me i may not answer he does not even have my number. paul: eu voters elected new parliament in the shadow of brexit. euro skeptics pulled strongly in england, italy, and france. trump toxic trade in tokyo after a weekend of golf and sumo wrestling on but admits there will be no deal on this visit. -- the brexit party will win 29 seats in britain. the liberal democrats will win the 16 seats in the eu elections. the latest -- the labour party will win 10 p the green party will win seven pair the ruling conservatives will only win four seats in the eu elections. one seat in the eu elections. clearly as we can see, the brexit party winning 29 seats, please electi

i am paul allen. shery: i am shery ahn. sophie: i am sophie kamaruddin. we are counting down to asia's major market open. ♪ paul: here are the top stories we are covering. president trump turns up the heat on china, threatening to impose more tariffs on imports as he is not happy with the pace of talks. the philippine central bank governor has plenty of room to ease. he also welcomed the upgrade from the s&p. or in the footsteps of his criticism of private equity firms, accusing some of dishonesty. we will have more from the meeting in omaha. looking at how markets close, looking at u.s. futures plunging more than a percent, 1.3% at the open. we had president trump tweeting we could see these tariffs on $200 billion from chinese goods being hike to 25% friday. that the u.s. china trade talks continue. 500 gained the most in a month, taking the surge to 18%. we have the nasdaq composite closing at a record high. we have amazon shares jumping the most as we heard from warren buffett that berkshire hathaway has been buying its shares. data that strong job gro

i'm paul allen. this is bloomberg. the clock is ticking as they try to hammer out a deal in washington. president trump says there is a chance beijing says it is ready to hit back. >> i did get a very good letter from president xi. but they renegotiated the deal. whether it's intellectual property theft, they took many parts of that deal and renegotiated. you can't do that. fictioncalate the trade -- friction does not serve us. china deeply regrets this and will be forced to make necessary countermeasures if the u.s. puts these tariffs into effect. china is repaired. china correspondent tom mackenzie is watching these developments. what are we looking at? how are things expected to play out? nobody is expecting deals if these continue tomorrow. tom: that is not the expectation. we're watching the clock until 12: 01, which is when we are expecting them to double. the big question really is how china will respond. they said they would retaliate. exactly what steps they take will be in focus. they could raise the level of

now, let's get the first word news with paul allen in sydney. paul: thanks. reports from japan say at least one person has been killed -- when a man armed with knives attack children and adults outside a bus stop. 19 people were wounded, including 13 children. the attacker died after slashing his throat. the number of people has been reported as high as three. motives are not know. nigel farage says his brexit's party success in the european elections should stir the u.k. to leave the e.u. without a divorce deal. british voters turned away from the major parties 14%. conservatives won less than 10%. may called the results disappointing but is likely to harden the stances of the candidates vying to replace her next month.t hth european commissione is considering disciplinary action against italy's failure to rein in debt. an official says the step could come next week as part of the e.u.'s regular budget monitoring process. buoyed by success in the e.u. elections, the deputy prime minister has indicated he will push pack against brussels in crafting his next b

i'm paul allen in sydney. we are under one hour away from the australian market open. >> good evening from bloomberg's global headquarters in new york, i'm taylor riggs. sophie: and i'm sophie kamaruddin in hong kong. welcome to "daybreak: asia." ♪ paul: our top stories is thursday, japan and china remain closed. the rest of asia has a tough trading day as the fed pushes capitulation. it is being held back by transitory forces leaving policymakers with no bias toward a hike or cut. china renounces a further relaxation in the financial sector removing limits on bank ownership and scrapping size requirements. taylor: i want to get to breaking news we have on south korea. they're cpi is coming in better 6/10 of 1%ed, rising beating estimates of 4/10 of 1% and coming in ahead of where we were on a year-over-year basis relative to last month which was about 4/10 of 1%. asare getting an increase well of 4/10 of 1%, better than the average analyst survey which was looking for a number of about 3/10 of 1%, and that is

paul: i'm paul allen in sydney and you are watching daybreak australia.r the weekend, china warned traders against shorting the yuan after a recent spike brought the currency to the seven per dollar level. our next guest says the line will be crossed and it will be an anticlimax. amy is portfolio manager and joins us now. thank you for joining us. i do have a chart on the bloomberg that illustrates what the pboc is talking about. there seems to be a line in the sand around the 6.9 level. as mentioned, you think that will be breached. why is it so hard to defend the yuan? amy: it is actually not that hard at the moment. quite frankly, all they have been doing so far is largely verbal intervention and using the fixing. defending the seven level has been tough in the past because 2016, into 2015 and particularly in 2015 when there was large valuation, there was a lot more foreign currency exposure from chinese domestics. regardme around, i would seven as more of a psychological level than one that carries as much economic pain for the chinese. which is why i

i'm paul allen in sydney.hery: president trump has turned up the pressure on china to finalize a trade deal during talks in washington this week. he is threatening to more than double tariff and import new taxes. says a trade deal is likely, but the key factor is how to ensure it will last. jp morgan global head of research joyce chang joins us from singapore. this chart on bloomberg showing exports to china, also u.s. imports from china. you can see you was imports from china, the bar in blue, is huge. yellow wood be tariff the -- would be the tariffs imposed so far. president trump is threatening to double these tariffs, and a 25%ential the 5% tariff -- tariff on more chinese imports. what would this do to the chinese economy? joyce: this is the height of brinksmanship politics and is making the outcomes more binary i of the friday deadline. there is not much leeway to go past that. economy has been recovering. what this will do is raise immediate questions on the confidence in the was equity market and chin

i am paul allen in sydney. we are one hour away from the market open. shery: i am shery ahn. kamaruddin in singapore. welcome to "daybreak asia." paul: our top stories this friday, trade talks resume in washington with president trump saying a deal is still possible. closed with a fourth straight loss. the negotiations

i am paul allen in sydney. you are under one hour away from the market open. >> good evening from bloomberg's global headquarters in new york. i am kathleen hays. sophie: i am sophie kamaruddin in hong kong. welcome to "daybreak asia." paul: our top stories this friday, president trump turns up the trade war heat. he says while he is dangerous and may have to be included in any talks with china. to fall ass are set investors seek safety. the yen strengthens. yields dropped to their lowest since 2017. india shifts further to the right as narendra modi celebrates a dramatic victory. he must fix the slowing economy and the looming jobs crisis. kathleen: after a quick reminder of how u.s. stocks ended the session, you can call it a couple where me. the trade war continues to escalate, affecting tech investors. preliminary members. small-cap stocks getting clobbered. you can see the damage that was done at the top of the board. dow jones industrials moving 1.1%. s&p a little bit worse. 1.2%. 20.22, the level there.

i am paul allen in sydney. we are an hour away from the australian market open. shery: good evening. i am shery ahn. sophie: i am sophie kamaruddin in hong kong. welcome to "daybreak asia." paul: our top stories this wednesday, asian stocks look set to follow wall street lower. a protracted u.s.-china trade war. a risk-off rally in 10-year treasuries sees the yield curve fall deeper into inversion. apple's earnings could plunge by .25 if china retaliates by spanning the iphone. shery: let's get you started with a quick check of how markets closed in the tuesday session after coming back from a long holiday weekend. we saw the s&p 500 fall towards the 110 level with 10 of main groups falling. we are talking about utilities and consumer staples leading the declines. we continue to have concerns over the ongoing trade tensions between china and the u.s. sectors on the s&p 500 also reflect that. the nasdaq falling .4%. we saw theing treasury rally accelerating in the session as well. s&p futures at the moment are not doing much, standing at the 2805 level. sophie: sto

paul allen is joining us. the decision could go either way. paul: it could. it is a live decision.ushed up about. i am standing here, telling you about it. khat lit the fire was the wea first-quarter numbers. that is one half of the mandate. housing market has also been weakening, weighing on consumer confidence as well. retail numbershe coming out. the retail and trade numbers we had not do much. havee other hand, we really strong employment numbers in australia. the jobs market is looking very healthy. are sitting -- they on a dilemma. it looks like it is split down the middle. the rba will do not -- nothing again. how does not factor into the decision here for the paul: itate --estimate? paul: the reserve bank of australia likes to keep itself separate. thinkould lead you to they would not do anything. they have in the past. cycle,the last easing they cut the rate on the budget day. hand, we heard from the ceo on monday. he said a rate cut from the rba today will do very little to move the needle on inflation, growth or anything the central bank is worried about. government to t

i am paul allen in sydney. shery: i am shery ahn. .ophie: and i sophie kamaruddin we are counting down to the major market opens. paul: our top stories this wednesday. asia civic stocks are set for heavy declines after president pushes terror threat items down. china confirms talks in washington, but officials also say retaliatory measures are being prepared against u.s. goods, and lyft sees a brighter future as performance beats expectations, but there is worry about ballooning losses. shery: we have breaking news out of south korea, the current account balance, the surplus at surpluslion, the larger 4han previous months, also $8. million much higher than the previous month in february. of course, we had seen exports take a hit in south korea despite the fact that exports fell for five consecutive sessions or five consecutive months. we are now seeing the surplus in the trade, in the current account balance coming in higher than the previous month of march billion. let's get you a quick check of markets closing

i'm paul allen. this is bloomberg. right.ng out a counter approach to wireless networks, replying to concerns over equipment made by wally. the nonbinding proposal warns government against relying on 5g networks that could be susceptible to state influence, or are based in countries that have not signed international agreements on cyber security and data protection. let's discuss that with our cybersecurity later, who joins us here in hong kong. we see this unified approach in terms of security a 5g. what are the biggest security concerns now? we are talking about these new network services. what are the biggest risks? >> the concern is that there will be some sort of covert surveillance network that is rolled out with 5g technologies, anyone can have access to it. susceptibleentially to be intercepted and interpreted. >> we don't know much about 5g as it gets implemented very slowly, not really happening yet in many countries. how do we know how to be protected? how do we protect ourselves and all that fits into it? >> the a

asia" this is bloomberg. ♪ paul: good morning, i'm paul allen in sydney, where asia's major markets areshery: good evening from bloomberg's global headquarters in new york. i'm shery ahn. sophie: i'm sophie kamaruddin hong kong. welcome to "daybreak: asia." paul: our top stories this wednesday. asia-pacific stocks look to track wall street's advance. tradefrom the escalated war. the pressure is still on. huawei has a range of answers to president trump's ban. and china says they will win the tariff battle. shery: jim bullard says the rate hike may have been a mistake. may haveoncerned we slightly overdone it with our december rate hike. shery: let's get straight to the market open in japan, south korea, and australia. sophie: in tokyo, we have stocks gaining ground as they digest the latest trade data that shows exports fell 2%. the yen is trading near a two-week low. we will also digest the outlook for japan. in korea, the gdp growth forecast cut this year and next. we do see it continue of one third of a percent. extending gains we saw tuesday when sam's gun helped boost the benchmark

i am paul allen in sydney. we are one hour away from the australian market open. shery: good evening. i'm shery ahn. sophie: i am sophie kamaruddin in hong kong. welcome to "daybreak asia." paul: our top stories this thursday. fanning the flames, the u.s. debates that listing more chinese tech companies. beijing's slams what it calls an american -- american smear tactics. 500s fell. asian markets are expected to follow. powell's patient policy. the latest fed minutes indicate a wait and see attitude towards where rates might go next. shery: let's get you started with a quick check of how markets closed. we saw the s&p 500 fall .3%. news that the white house could potentially target more chinese tech firms really did not sit well with investors. we saw tech shares down not to mention that retailers also had an ugly day and low, disappointing numbers really hit the retailing index which fell to the lowest in more than a week. leading they shares declines. wti falling in this session as we had some unsurprising buildup in u.s. stockpiles. do -- have to digest the minu

paul: i am paul allen and sidney. economistsley's u.s.implemented tariff remains for three or four months, the fed may have to cut rates by 50 basis points. that is one scenario as the fed faces what it calls a unique situation. let's assess the potential impact on policymakers and economies in asia. joining us from hong kong is morgan stanley asia economist deyi tan. thank you for in joining us. we had numbers out in this part of the world. we had some rather shocking korean jobs numbers, worse than expected. the imf also saying singapore in 2019,ing to be 2.3% a substantial reduction from 2018. are we seeing impact of the trade war flowing through some of the asian economies? and what are the central banks going to do about it? >> i think the trade tension is key here. our assumption is this is going to be a temporary escalation lasting three to four weeks. if that is the case, a gradual recovery is the best case because they are going to be offsetting mitigating factors from policy support. chinese policy easing will work and spill ove

i am paul allen. shery: i am shery ahn. sophie: i am sophie kamaruddin. we are counting down to asia's major market open. paul: here are the top stories we are covering. always found are facing the sanctions -- we speak exclusively to him. >> i will ignore trump, then with whom can he negotiate? if he calls me, i may not even answer. paul: electing a new parliament in the shadow of brexit. the brexit party hosting a strong result in northeast england. trump talks trade in tokyo after a weekend of sumo and sushi but there will be no deal on this visit. startedet's get you with the breaking headlines. we are seeing the brexit party taking the vote share 38% in east england. the conservative vote share is 10% in the east of england. the european parliament e.u. wide border turnout 55 percent, talking about elections in 28 union place with the brexit party of nigel farage taking a strong lead in that part of the u.k. in england taking 38%. let's get a look at how fx markets are reacting to the results out of europe. we have seen the euro and the moment.in grou

i am paul allen in sydney. shery: let's get a quick check of the business headlines.kswagen is making changes to its battery plan. concerns that a deal with samsung might unravel. they merged during detailed negotiations between the company. the samsung unit pledged a cut. say they are not pushing for nissan to join, but the japanese carmaker would be free to join the expanded group in the future, if it desires. 7.5% for nissan. shery: considering options, including a capital increase in the next two months. sources say tapping investors for fresh cash is the least favored option because it could cause a backlash. chief executive has signaled deeper cuts as germany's largest lenders struggled to make a profit. coming up next, huawei is isying ip theft and says it more likely that u.s. is stealing from them. this is bloomberg. ♪ at comcast, we didn't build the nation's largest gig-speed network just to make businesses run faster. we built it to help them go beyond. because beyond risk... welcome to the neighborhood, guys. there is reward. ♪ ♪ beyond work and life... wh

paul: i am paul allen in sydney.ck check of the latest business flash headlines. below $200 at the start of the session. this was on concerns about his ability to make money. tesla's described current state as a coded situation. $230rice targets between from 275. from 375 last month. he says he has major concerns about tesla's growth prospects. >> shelley pushed deeper into online gadgets. -- services and tech gadgets. these made his name with devices. mobile payments, video streaming and other projects are upsetting smartphone market. paul: t-mobile and sprint both surged as the fcc chairman said he will recommend the green light for their 26 billion dollars merger. the tension -- attention now deal willhether the get clearance from antitrust regulators. the justice department is leaning against the takeover. coming up next, president trump's been on huawei swindling -- ban on huawei sending ripples through the chip sector. this is bloomberg. ♪ >> this is daybreak asia. i am jessica summers with the first word headl

i'm paul allen in sydney. i'm shery ahn in new york. let's get the first word news.tlined plans to ease the 737 max 8 back into commercial service. that is once regulators lift a global grounding for the jet. it will take around three months before flights resume. in the meantime, teams are preparing to take 500 jets out of storage including around 100 new planes that cannot be delivered until the grounding is lifted. israel will hold a new election after benjamin netanyahu failed a form of government by a midnight deadline. the six-week deadline expired with two of his party's potential partners unable to agree on a proposed military draft law. a nationwide strike in argentina to protest government austerity measures has halted hundreds of trains, buses and flights. many schools were also closed and hospitals offered emergency services. strike was organized by a labor union over plans to slash subsidies amid a recession , currency devaluation, and one of the world's highest inflation rate. to luxury new york condos two a financier will be sold as part of a u.s. of f

morning.d i am paul allen in sydney. we are one hour away from the australian market open. shery: i am shery ahn, welcome to "daybreak asia." paul: our top stories this tuesday, the t ariff-driven selloff. investors seek safety. gold gained the most since february while the yen has strengthened in early trading. oil goes the other way, dropping for a third day and erasing earlier gains sparked by tensions in the middle east. shery: that's get you started -- with aet you started quick check on how markets closed. stock markets losing more than in the hall of last week. without losing more than 600 points. trade sensitive stocks like caterpillar and apple losing 5%. the s&p 500 fell in this session. with all the nasdaq also losing the most this year. 10 year treasury yields falling to the lowest levels since march. the three-month tenure part of curve 10 year part of the falling. u.s. futures not doing much and holding above the 2800 level. let's see how we are setting up for the asia open. paul. paul: thanks. as you might expect, it is not looking too good. nikkei futures are

i am paul allen in sydney. we are one hour away from trading in australia, japan, and korea. shery: good morning. i am shery ahn. from -- i amso sophie kamaruddin in hong kong. welcome to "daybreak asia." paul: our top stories this friday, asia-pacific stocks look poised to extend a rally on wall street. futures point to -- global tech suppliers are in focus. stocks have snapped a two-day rally. one day before the election, the aussie under pressure under the ongoing trade war the faltering domestic economy. shery: let's get you started with a quick check of how markets close in thursday's session in the u.s. every sector of the s&p 500 was in the green. some earnings from cisco and walmart lifted sentiment. we had a strong housing report. all of that helping yield rebound after the two-year yield fell to the lowest level since february of last year. we have some jitters around the latest headlines on trade on huawei. we saw markets fade into the close a little bit. u.s. futures unchanged. let's see how we are setting up for the asian market. sophie: after a mixed thursday ses

i am paul allen.eal chances are rising and theresa may's exit -- [indiscernible] david: a little bit of fallout not. mark cranfield is in singapore for us. mark, where do we start? what we talk about? -- do we talk about? what is the angle here today? mark: really these european parliamentary elections that have reopened the whole brexit can of worms because they are going to get a new conservative party leader in the u.k. the front runner is boris johnson. he is clearly set he will deliver brexit whether it means a no-deal ornot. but that is a new risk which traders need to price in. we also got the fact that the labour party says they are willing to support a sector -- a second referendum. the risk of an election. that is another risk as well. and all of this is going to be squeezed into a timetable which we know ends in october. nobody has an appetite for taking it further than that. certainly people in the market for the pound will have a lot to play with. volatility is not particularly high. peop

i am paul allen in sydney. we are under an hour with from the australian market open. shery: good evening. i am shery ahn. sophie: i am sophie kamaruddin and hong kong. welcome to "daybreak asia." in hong kong. welcome to "daybreak asia." paul: our top stories this friday, asian stocks look set for modest gains after wall street got a rebound despite the treasury's rally rolling on. a 20% stake in crowne resorts. we are expecting some optimism in japan this hour. we will bring you the latest jobless and industrial production data. shery: let's get started in south korea. breaking members. industrial production yawn year contracting 0.1%. much smaller contraction than was expected. the estimate was for its a faulty .2%. it is also a more benign figures and the previous month, where it fell 2.8%. we are seeing it fall 1.6%. jump than was estimated. we have seen a south korean economy under a lot of pressure. five months of the clients when cameme -- declines when it to exports. gdp numbers have been soft. we're getting the bok rate decision this month. in the meantime, i

i'm paul allen. this is bloomberg. markets, japanhe is coming back up to speed.suffering the most. let's have a look at the news coming out of nissan. renewal making a former offered to merge with its long time partner, according to the japanese broadcaster tbs, apparently proposing that the companies merge under a holding company structure. where thet elaborate proposal was made. shares down 1.2. let's move things along and have a look at the session in mumbai. indian markets suggesting we will have a little bit of a fallback at the start of the trading day. we do also have a rupee which has been weakening, and we look forward to inflation data out of china. environmentlation is perhaps something which people are taking heart from as they perceive the reserve bank of india coming out and cutting interest rates. .3%, whichup by turned out on this tbs report. that's the position at the moment. talking of india. >> that's right. in sight for india's marathon national election, which reached its penultimate phase on sunday. one more vote is set for six days from now

i am paul allen in sydney. >> we are counting down to asia's market opens. top stories we are covering in the next hour. china threatens a strong response to president trump's huawei ban. america, tom inside

i'm paul allen in sydney. shery: i'm shery ahn in new york.ency markets, subdued, showing demand for traditional havens. bye-bye they you on another trade proxies are falling. is say-- our next guest -- saying bearish on the one. bank had a fixture strategy is with us. always great having you with us. let's take a look at the chinese yuan. this gtv chart on the bloomberg showing three months risk reversals when it comes to the offshore yuan, rising to the highest since november. these demands are wagers against the yuan. are the yuan bears back on the prowl such as yourself? being.the time i would not classify as as a massive you on their. but -- yuan bear. on theis a great gauge fear around trade tensions. we were bearish on the yuan short-term before, the most recent bout of trade tensions picked up. foro think there is room this to move higher as long as the trade tensions linger. hedge think it is a great for allocations that otherwise long riskier assets like equities or corporate bonds. shery: how big of a risk is into your scenario if w

i am paul allen. e counting down to the open. ♪ paul: here are the top stories we are covering in the next hour. u.s. stocks tumble to the lowest since march over deepening fears of protracted trade wars with china. , a signal ofore looming recession.

. ♪ >> i am paul allen in sydney. >> i am sophie kamaruddin in hong kong.ng down to asia's markets open. >> here are the top stories we are following in the next hour. u.s. stocks fall. leaving policyma

i am paul allen in sydney. we are one hour away from the market open. shery: i am shery ahn. sophie: i am sophie kamaruddin in singapore. welcome to "daybreak asia." paul: our top stories this friday, trade talks resume in washington with president trump saying a deal is still possible. closed with a fourth straight loss. the negotiations come with yet another potential hurdle as the u.s. banns china mobile. -- bans china mobile. the ipo values the company below its last private estimate. shery: let's get you started with a quick check up on how markets closed. the s&p 500 is now headed for its worst week this year. we sawtek and materials leading h andlients -- saw tec materials leading the declines. at one point, we have stocks really paring back the earlier losses as president trump came out with a more optimistic view of where the trade talks were headed. he said because potentially see a deal this week but that really was not enough. we have trade tensions, geopolitical tensions as well with iran. north korea firing missiles. investor sentiment pretty fragile at the momen

sydney.m paul allen in you're watching daybreak australia. of being a giant of the streaming world will be expensive but they are sure they can afford it. the latest earnings report topped expectations. profit fell 13% in the last quarter but that was better than analysts expected while sales also beat estimates. >> beijing signed a deal to build natural gas plants in a rock. giants will. out the work which will take two and half years to complete. iraq will use the plants to generate electricity and reduce its reliance on gas from iran. and: a failure by the u.s. china to reach a deal -- they warn that steel orders will slump if there is no agreement in washington this week. bloomberg heold sees an 80% chance of a deal. plenty more still ahead. we are live from the jpmorgan global china summit in beijing. we will have an exclusive interview in the next hour. almost it for us. we have trading underway in new zealand. it is flat right now but in positive territory despite the weak lead-in from u.s. markets. the kiwi dollar took a beating yeste

i'm paul allen. shery: i'm shery ahn. g down to asia's major market open. ♪ paul: here are the top stories we are covering. wall street tumbles as china hits back on tariffs. president trump warns beijing not to go too far. stocks fall the most since january. investors seek safety with gold up the most since february. the yen

i am paul allen. shery: i am shery ahn. sophie: i am sophie kamaruddin. asia's major market open. ♪ paul: here are the top stories we are covering. wall street recovers as president trump strikes a more optimistic tone in the trade. the dollar strengthens and treasuries fall. the new york fed president sees on effects from the trade war but john williams says there is no