probablysay they would see the same story as petro china. . ss in profit nearly all of its profit comes from oil and gas production. remains in the top four among the oil giants along with bp. pitcher china here bearing the brunt of this crash along with conical phillips. when it comes to income. what does this mean for the second quarter yeah come we have seen a rebound in oil reflected in stocks but analysts say petro china still has a lot to do to raise its competitiveness. they have to cut costs even further and we heard from the president just recently who said that he had to shut down some of the high-cost fields because there was no hope that these prices, that they would make any type of profit. petro china says they expect output to fall for the first time in 17 years, the first time in 19 years for cnooc. rishaad: let's turn to other stories we are watching today. bank out with its numbers. they're first quarter profits have been hit by increase provisions for bad loans. came innd-biggest bank at $636 million, a drop of 14%. of 5%.s e

petro china but in good. -- petro china looking good. health care stocks also looking strong.me of the more -- samsung coming through with its numbers today, better than expected, beating estimates in first-quarter earnings after the early release of the galaxy s7, but a pullback in korea. australia coming through with first half profits that missed expectations, though the share prices higher. down 14.5% as it resumed trade for the first time since march 7 and following that u.s. probe. thank you very much indeed. getting back to our top stories. samsung preliminary first-quarter earnings ahead of estimates. the new smartphone proving to be a surprise hit. to wrong,s weren't but better than estimates. risingctations have been ahead of these preliminary results anyway. now you are seeing a bit of a pullback because people are selling on the fact. 1.3%.d: right, a lot of this is murky. we will get more definitive data when they break out the full earnings and we get everything. tell me something, just looking showese numbers, does this a resurgent samsung question mark -- samsu

that did not help petro china. biggest oil and gas producer posting the first quarterly loss in its trading history. a third monthly drop against it again. central banks showed no inclination to step up support for that economy. this is the latest chinese bank to breach agreements for bad loan agreements. it avoided reporting a quarterly loss. dropping below the mandatory 150% of nonperforming credit. there's a breach the biz: well, it doesn't search the web. there is a very significant of questions -- percentage of questions and queries that have way better answers from a person, especially when you are asking the wrong question. only jelly can tell you, hey, you asked the wrong question. where is mission street? where are you trying to go? you don't want mission. there is a big thing going on. you should go on howard or whatever. ok. what i really want to know is where is howard. but a web search engine will just keep telling you all day long what you ask. "who is netanyahu?" she got an answer in 30 minutes. "he i

petro china up. health care shares we want to watch today.llergan deal, $160 billion merger was dead in the water. that is fueling speculation on mergers and where allegan is going to go next. manus: follow the money, even on. i love it -- follow the money, even on. the biggest move in four years. let's see if any of the cash ends up in hong kong. aftertalk about minutes the feds march meeting. split.akers, they were lean againstials such a move because it can send the wrong signal. others say it might be warranted. president told bloomberg that a hike could come at any meeting. cooks the committee certainly reserves the right -- >> the committee certainly reserves the right to make a move at any time. we debate at all meetings. all meetings are live meetings. there is no other way to think about it. did the -- how did the top fed watchers react? .ere's what they told bloomberg >> i think what the fed was to do is rate of -- is raise rates. they want to do it at a gradual pace to? rate hikes. >> june and december. at think the fed is going to

in shanghai, seeing a little bit but itaker petro china, is players in sydney, australia that are reallyifting that sector higher. looking good in late australian trade. the yen the big story of the day, hitting that 110 level during new york trade. it is just a little bit weaker at the moment, against the greenback. but you can see it also had a very choppy session. now moving quite mythically against the greenback holding 110. 37. a little bit of a switch around equities. a bit of a better session we saw in asia yesterday. anna: thank you very much. the wisconsin president for primaries have delivered defeat to the front-runners. ted cruz over donald trump increases the chances of a contested public and convention in july. manus: bernie sanders keeps his white house run a live with a clinton.ver hillary the democratic socialist has now won six contests, but still faces long odds to catch clinton in the delegate count. chris watling is on set to, i suppose, take a deeper dive into the politics of united states of america. 1230 7 -- the magic number for trump to win. it does not look mat

petro china is a flagship listed unit, and speaking about oil, back below $40 for the moment.ks a lot for that. right, a pickup in inflation in costs,own to rising food the cpi rising in march. it is just under what the thinking was. it could extend the pboc's easing pause. our chief correspondent is with me now. what should we be concentrating on? >> good morning. far on theates how consumer side china is from deflation. were seeing a stabilization and a pickup in prices, which is what you want to see in a slowing economy. is down to food prices, in particular pork prices. the bigger picture for china and consumer prices is we are seeing the same in a lot of big economies. rishaad: how important is that reduce or price negativity? >> this is an interesting number today. the first increase in september 2013. it is early days. you can't take this as a turning point, but maybe it shows that downward pressure on factory gates is easing off. that means moving towards ,ositive territory for prices important for investment, employment, and the wider deflation in china. rishaad: it w

china doing petro very well. the basic materials rallying as well.me good numbers coming through from fort eskew metals ue metals group. that is a six session of gains and the best levels we have seen since early january. the longest run of wins on the regional index that we have seen since october of last year. we are also talking about not only the yen, but the resurgence we have seen and emerging-market currencies, led by the malaysian ringgit. it is up about .5% against the dollar at the moment. leading the gains that we have seen across emerging-market currencies. having a look at the japanese yen, if it is going to update. 108.74. a little bit of a switch coming through from the japanese yen, which is the reason why we have seen such a big boost coming back into the nikkei. a very solid session all around. manus: -- anna: thank you. there is fresh evidence that china's economy is stabilizing. in march.se by 11.5% that is after a 25% slump in february. manus: let's get more from our bureau chief in shanghai. the numbers make a good reading. you