cnooc you have outperforming petrochina.think in terms of the petrochina stock price on the future of their gas and pipeline unit? do you think they will have to sell off assets? >> i think you are going to have to see a spinoff of petrochina's mainstream assets eventually, but i don't think that is going to happen yet, for a number of technical reasons. to have tois going sell their mainstreamers as china liberalize visits gas market and tries to encourage more competition. could beomething that a source of volatility for petrochina, but i don't think that reform is in the near-term. for petrochina, the biggest question is whether or not they start to pay a higher dividend. petrochina is the real laggard when it comes to dividend payments relative to see sinopec. i think the question is whether they will start to pay a higher dividend to shareholders. yvonne: always great to have you, neil beveridge, senior research oil analyst. you can get a roundup of the stories you need to know in today's edition of "daybreak" for bloom

petrochina passing on the benefits of higher energy prices, paying shareholders its entire half-year income, worth almost $2 billion and raises expectations. estimates, income dew point billion dollars. dollarsw point billion -- $2.4 billion. global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. haidi: thank you for that. pretty low that we will hear market moving news out of jackson hole. traders will be watching closely indeed. let's head to wyoming. kathleen hays is standing by for us. a scenic backdrop indeed. what question are central bankers trying to answer? arehe big question they trying to answer and everyone would like them to find an answer to is why is it that many of economies have picked up and are in recovery, labor markets tighter, and yet inflation is not heading towards target. it is a conundrum of our times for central banks. earlier we spoke to the president of the federal reserve bank of dallas and ask him about this. he talked about different factors affecting this, but even though he can see

>> i think petrochina has some challenges. i think they are making cost reductions.is about how can they restructure some of that corporate business. if you look at broader to prices as they struggle hold above $50, is that going to worsen? you guys see $45 a barrel. response expect opec's to be to that? >> very good question. some shoulderough months on the demand side, so there could he more downside risks. opec compliance struggling. u.s. shale ramps up as well. demand remains robust. $45 is around former soviet union supply. holding our view and are taking a cautious few going into next year. has u.s. shale, are we getting close to a peak? we have had these indications, hearing from halle burton and anadarko that investment is coming down. to thel we are getting point where u.s. shale is going to be less of a problem? >> if i look through the hasn'tng season, capex really changed too much. we are up 60% for e&p coverage. broadlyon guidance hasn't changed much. there has been a lot of hedging this year. growthk the u.s. shale is around a million barrels a day. and

petrochina.otors and petrochina. checking on samsung, that stock trading as we wait for the result of the trial of jay y. lee. 2017, butis up 32% in now down .6%. ♪ this is "bloomberg technology." i'm emily chang. britain risks damaging crucial parts of its tech industry unless it can secure an unprecedented deal with the european union on data exchange after brexit. this, according to a government paper published thursday. these new developments, as the third round of brexit negotiations are due to begin next week. here with more on the risks of exit from the eu on the tech sector is caroline hyde in london. take it away. caroline: thank you so much. i'm now joined by gerald grech, a ceo. they have programs and advise on policy. an interesting policy statement that we've got from the government ahead of their negotiations. status quo is what they want. do you think they will get it? gerald: it's important that we get this right. it is good to see the british government setting out these prioriti

we are going through petrochina numbers.f net income, 6.3 billion yuan instead of the estimated 10.4 billion we were expecting. sound financial position. chinese stock market closed right now because of the time difference, but watch out tomorrow morning. let's check on the markets with mark barton. mark: euro traders are gearing up for volatility, whereas those dealing in other currencies are anticipating little impact. one week euro volatility trades about 47 basis points higher than two-week volatility, more than triple the premium on dollar-sterling and the yen. the white line is euro-dollar one to two-week volatility. draghi speaks 4:00 p.m. new york time friday. that is interesting, as is this, as donald trump threatens to shut down the government in october over border wall funding. in normal times, rates on fixed income investment go higher the longer the maturity. something unusual is happening. investors are demanding higher rates on those securities maturing on october 5, which is around the time the treasury esti

petrochina and cnooc last week. out with profits of around $1.9 billion for the first half. as we've reported, they gave those out in total, all of those profits, as dividends. cnooc also beating estimates. giants, three energy there is a trend in terms of crude output, which is reducing, but natural gas production is picking up strongly, and we have seen that from sinopec as well as of their production up around 8%, but crude production down 5.3% in the first half, and we have seen this push driven by this central and provisional governments for more use of natural gas, particularly trying to get rid of coal and switch out with natural gas used, and we are seeing that come through in these numbers from all three egg energy companies and it is expected that trend will continue, crude output continuing to produce into the second half of this year. sinopec paid out a small dividend per share. interesting as well as we talk about the debt of these state-owned companies, their financing costs were down 70%. at $2.5spend

petrochina is on the rise in that market. see the hang biggest monthly advance since january. inflows are expected to continue as chinese regulator dial-up curbss on right -- the hang seng knocking off 41 points from the benchmark. i want to check on financials in after hsbc led gains on monday after its second-quarter results. the stocks are marginally lower by the 10th of a percent. insurers are in focus today after the industry watchdog spoke of more scrutiny, and anbang insurance is in the spotlight. on chinese telcos. ofs after the premiere spoke opening up the industry, opening players to increase broadband fees. a mixed bag. china mobile if marginally higher this morning. -- india is said to block a billion-dollar acquisition of gland pharma from china. on the mainland, we have weakness for fosun pharmaceutical. --haad: beijing is leading leaning on anbang. here's paul allen with first word news. paul: china is said to be raising the heat on a quiz acquisitive companies by asking companies to sell assets abroad. those

we are awaiting cnooc and petrochina after the bell.tocks, signther ocean in hong kong rising 11% in late trade. closing higher by all must 11%, underlying profit [inaudible] for more words to the downside. hit by a 150 million aussie dollar charge to its discount unit big w. a flat to mixed finish as we round out the asian session. manus: thank you for the roundup. it has been a lackluster summer for european equities. the stoxx 600 and the ftse 100 following a seasonal trend but if in the last 10 years were anything to go by, it could we that you have an autumn rally on your hands to contend with. our guest is a senior equity strategist from bloomberg intelligence and he has been digging into the numbers. this is the fabled statement to sell in may and go away and buy day.int leger border --onal fashionable for the ladies to buy your partner a hat. what is the empirical research to justify the statement? >> as many -- much as we like to dismiss seasonal trends the king they should be arbitrage to way, over the last 10 years we have se

hoping they would copy other leading companies such as petrochina, which is giving its income to shareholdersr looking for a timetable for its back your listing. first half profit could triple, however it is suspending any dividend payout as it reorganizes. threeth korea fires missiles, but the u.s. will continue to push for negotiations. ♪ ♪ track your pack. set a curfew, or two. make dinner-time device free. [ music stops ] [ music plays again ] a smarter way to wifi is awesome. introducing xfinity xfi. amazing speed, coverage and control. change the way you wifi. xfinity. the future of awesome. ♪ yvonne: 7:30 a.m. monday morning in hong kong, recovering from some monsoons. there are some of the raindrops on the skycam this morning, 30 minutes away from the market open. in newit is 7:30 p.m. york, markets closed mixed on friday. you see the s&p up 0.2%. no big rocking news from jackson hole and janet yellen. i am betty live in new york. yvonne: you are watching daybreak asia. time for first word news with haslinda amin. said to beber is close to naming a new ceo after months. they are holdi