selina wang is in beijing.rrent plans to stop chinese companies from listing on american exchanges. this denial comes after we reported on friday that the white house was exploring limits on u.s. investments in chinese companies. meanwhile, beijing has vowed to continue opening up its markets. to encourage foreign investment. high-level trade talks are set to restart the week of october 7. european governments need to spend more to counsel -- counter the global economic slowdown. that is what mario draghi told the financial times. he is urging members of the single currency to commit. the ft quotes him as saying we need a common euro zone budget. in hong kong, smoke and violence again this weekend. police used water cannons and rubber bullets as protesters set the entrance of a train station on fire. the city is bracing for more protests. tomorrow marks the 70th anniversary of the people's republic of china. netanyahu isnjamin making a last-ditch effort to form a government. that is after elections this month p

let's get to bloomberg first word news with beijing and selina wang. sche bank is transferring its business to bmp. the german lender will manage the platform until climate -- clients have been migrated over. prime broker to hedge funds. they lend them cash, securities, and execute their traits. thomas cook has filed for administration, leaving tens of thousands of tourists stranded. the 178-year-old travel company failed to raise additional funding, collapsing under a mountain of debt. all thomas cook flights and vacations have been canceled. the government will look to bring holidaymakers back home, calling it the largest repatriation and postwar history. in china's cancellation of a visit to an american farm, apparently done at the request of the u.s. this indicates it wasn't caused by deterioration in trade talks. we learned chinese vice premier learns to visit for high-level talks in the second week of october. president trump appearing to acknowledge he discussed with percent joe biden with ukraine's president. that call is a subject of congressio

for that, we go to beijing and selina wang. minister borisme johnson says he will continue to work for a deal with the eu while preparing for the possibility of leaving without one. he was speaking after he suffered a sixth defeat in parliament, this time over another attempt to call a snap election. a bill requiring johnson to seek a brexit extension beyond october 31 in the event of no was agreed-upon yesterday. parliament has been suspended for five weeks. >> i will strive to get an agreement in the national interest. this government will not delay brexit any further. >> the flagship newspaper of the chinese communist party is taking aim at one of washington's most prominent hawks. areents from peter navarro being called unconstructive lies. he repeated what he calls china's seven deadly sins manipulation.ency byrie lam has rejected calls protesters for u.s. legislation requiring annual assessments of the city's special status following more unrest this held a press conference and said foreign intervention would be inappropr

selina: i am selina wang. in hong kong.ak: asia" paul: our top stories this monday new factories kick in stock futures fall and the yen gains as a traditional haven. hong kong suffers another

selina: i am selina wang. in hong kong. welcome to "daybreak: asia" paul: our top stories this monday new factories kick in stock futures fall and the yen gains as a traditional haven. hong kong suffers another weekend of violence. dozens are west it as protesters target the airport and subway network. -- dozens arrested. argentine in christ it again. capital controls try to hold the country on the as the default. reminder on how u.s. stocks ended the session as we begin the trading week in asia. from the dow jones for the s&p to the nasdaq, you have the close and stocks within a range of 0.15%. not much moving ahead of the long weekend in the u.s.. this s&prtly we see futures pair when they opened they were down a percent. they pulled back, maybe a reaction from friday. mostly everything that is happened since friday. on friday, u.s. consumer sentiment measured from the university of michigan closely watched survey hit as its lowest level since 2016. everyone waiting for tariffs which went into effect on september 1. china

let's get over to selina wang with the latest. what do we know?ow a meeting could come as early as this week where some board directors will push adam newman to step down and take a nonexecutive chairman position according to what sources have told bloomberg. he has quickly gone from this celebrated startup ceo and founder to a highly controversial figure. we saw the company pushback the ipo plans as skepticism emerged streetred -- among wall bankers. the change in leadership could improve its prospects of a successful ipo and confidence from investors. there is onslaught of negative around the behavior, the ability to generate profits, generating massive losses so far. now the company is hoping to push the ipo to next month but some analysts think that is a long shot given it needs to convinced investors the company is worth billions when it has not turned a nickel a profit after raising $12 billion. shery: a big backer is soft bank. we wonder if softbank could have played a role in all of this. selina: some reports show that masayoshi son does b

selina wang. joins us. at are we extending on this day that state media says will be a day for mass pageantry? selina: we are expecting a massive military parade today with at least 100,000 people taking part. we will be watching for a morning address that president xi jinping will be issuing. fireworks will be displayed over china's capital. there has been preparation for this for months. this entire previous month of september, there has been massive security, parade rehearsals. many major streets are closed and huge issues getting into even the bloomberg building with lots of security everywhere. during the military parade, we may get a display, a glimpse of some of china's most advanced military hardware. it may be the first time we see an intercontinental ballistic missile. what is on display is what former pacific command or harry harris called the largest and most o diverse missile force in the world. this parade comes with growing concerns from the u.s. and china's neighbors that this is a powerful d

china: let's get our correspondent selina wang from shanghai, who did that interview with the tiffanytell me more about his outlook for china, now that the economy is slowing down. i'm here at their largest ever brand exhibition here in shanghai. it really plays up the company's heritage, showcasing more than 180 years of jewels, designs, its placement in history. that comes amid a chime -- time where more chinese shoppers are choosing to buy at home versus abroad. the company is facing headwinds including the u.s.-china trade yuannd the weakening against the dollar. he did talk about how the tariffs are hitting the company. take a listen to how he characterized how they are dealing with. . that. >> this is an effect on the mainland china. beyondomething that is our control, but we want to deal with it, but not just by increasing prices. we are looking at ways to mitigate this factor. reporter: so they are choosing to absorb the costs in the short-term. he did say it is expected to have a bit of a margin impact, given that china is such an important market for the. this does not chang

selina wang has the story.hat do the council say? selena: the state council was asking for the targeted and brought news of ratio cuts in a timely manner. this is after a meeting held by the premier and it is expected that pboc is following. this is what happened before the reserve ratio cut. there was a similar meeting held and called for the issuance of a by localond to be used governments to boost infrastructure spending. many economists are expecting this cut to come as early as this month. this does not come to gas as a surprise given the pressure. we had many economists lower expectations. there's a lot of headwinds facing the chinese economy and we heard from the state council themselves of the external pressure is placing enough downward pressure on the economy that the reserve ratio cut is necessary. for localcial bonds governments, triple r cuts. a revamp of the interest rate reforms to improve monetary liquidity and measures to boost consumption. many economists say this stimulus measures has been in

selina: i am selina wang. in beijing.k: asia" paul: our top stories this monday, the yuan climbs and the yen falls with signs of progress in the trade talks. china says negotiations have been constructive. violence returns to the streets of hong kong, demonstrators clashing with police for a 16th consecutive weekend. tesla leads its american rival in one area. we will look at nio's remarkable ability to lose money. we got trade numbers out of south korea, huge slump in exports for the first 20 days of september. that's right we saw 22% fall in exports and 11% fall imports, not a pre-picture for south korea pair on top of that they're dealing with that trade spat with japan. if you look at the market reaction here we are seeing the kospi, pressure on the kospi down more than .1%. also pressure on the one weakening against the u.s. dollar, trading at 1192.70. the back ofng on nine-month of consecutive export drop. muted reaction from investors, some of this likely expected. let's get some analysis with our chief asia econom

selina wang in beijing, thank you so much.e regional at ubs global wealth management. pmi assessment -- we have a that is still in contraction and we have this risk about possibly limits on investment and inflows. when you take a look at the , andion, the yuan gaining you say it is not surprising. the numbers reflecting the fact that because of the monetary measures and because of the tech cuts -- tax cuts, those measures have helped bolster the manufacturing sector. manufacturing is a lot more than what they would be. i do expect the numbers to be resilient. post october, november and december, that is where the real crunch comes in. haslinda: what is more important to traders? pmi? if on october 15, the tariffs come in, it should be negative. -- it has ait bigger impact on the global economy than what is happening right now. rishaad: kelvin, how would you say all this data translates to what is going on on the ground currently? in china? calvin: on the ground, there is people expecting the worst. they are preparing for the w

selina wang, joining us from beijing. are going on on our radar, no doubt monetary policy will be one of those things as well as economic data. the reserve bank of england could be unchanged on wednesday after a 50 basis point surprise , this is. the bank of thailand will be weighing what it needs to do and bloomberg economics expects them to stem the rising barge by cutting here as well. central bank is slash thelso to interest rate as it continues to grow and right now we have trade data not just because of this ongoing trade spat but with all the protests taking place. profits are due on friday, and we also have them as a victim of the trade conflict and we may will see a drop in factory deflation and slowing production. exclusive also our interview with the former u.n. secretary-general ban ki-moon at 12:00 p.m. in new york. singapore, talk to us. watch on keeping a both indian stocks, since sex doing gangbusters, currently up by 2.6%. modi announcing those tech stocks, giving a lift to sentiment. it willions are that

selina wang is watching this. what should we expect from this visit? llor merkel facing a few challenges, isn't she? kathleen: this is her 12 -- selina: this is her 12 visit to china. setfaces a very difficult of policy objectives. maintaining a hard line on beijing while pushing for greater, reciprocal market access, and the trade deal between the u.s. and china. germany has a strong incentive for the two countries to reach a deal since it is very export dependent and there has been weakness in the german economy. germany is china's biggest european trading partner by a long shot. $195 billion last year. germany is one of the few western companies to have a trade surplus with china, with automakers like vw and bmw now more dependent on china sales than those in the u.s. on top of that challenging picture, you have the ongoing hong kong protest. there have been pro-democracy activists in hong kong that urged merkel to intervene and she has taken a very careful approach to this matter, urging beijing to engage in discussions, to follow the rule of law, b

mackenzie in tiananmen square and selina wang in beijing, vegas oh much for joining us. we will have plenty more coverage throughout the day from beijing as though celebrations of the 70th anniversary of the prc continue. let's get the first word news with jessica summers. jessica: thanks, paul. there's a new warning about global growth, as the expansion of the world economy will decline next year to the slowest rate since 2012. that's because of a deteriorating effect of the trade war. growth is seen at 2.6% this year and 2.5% next year, down from 3.2% in 2018. it haslso says it is -- downgraded forecasts for 16 countries in june. china has repeated a pledge to further open the economy, adding it will act as a safeguard to multilateral trade here the vice premier spoke ahead of negotiations in washington next week. he reports he said the governmental -- government will work on cooperation and innovation and will protect intellectual property. he also said measures will be taken to make it easier for foreign companies to work in china. the sales tax rises in japan tuesda

let's head to our china correspondent selina wang.eting next month. there is still doubt anything is going to be resolved in terms of the technology cold war. our next guest is going to tell us more about that. joining us from san francisco is rebecca fannin, media entrepreneur and author of the new book, tech titans of china. huawei is trying to convince customers that its gear is free of security loopholes. what this huawei say about the ability of chinese companies to gain global trust when it comes to privacy and security? rebecca: this is a big issue. if this is not renewed it is definitely going to escalate the u.s.-china tech and trade war. huawei is being pushed into a corner to develop its own technologies and become much more reliant on its own technologies, and less from the u.s., which is has been -- which it has been for years. : there is a long history of cooperation between the u.s. and chinese tech industries that is now at risk of decoupling. what is the risk? is a phraseoupling that is definitely heard a lot reality

this is perhaps one part of the conversation selina wang is watching in beijing. expect from this visit? is facing tough policy objectives and needs to maintain a hard line on beijing while pushing for a u.s.-china trade deal and reciprocal market access for german companies. this is a delicate time for germany. they are a very export-dependent economy and there is a significant weakness, teetering on recession as you said. journey -- germany is also china's largest trading partner, numbers reaching 195 billion dollars bilaterally last year. germany is one of the few western countries to run a trade surplus with china, as you can see from the chart, with vw and bmw relying more on sales to china than the u.s.. complicating everything is the ongoing protests in hong kong. you have pro-democracy activists calling for angela merkel to intervene and support them. we have seen angela merkel take a delicate, careful line, urging beijing to engage in discussions that follow the rule of law, but did decline an invitation from protesters to meet them in person. for more on

kathleen: selina wang, thank you.g television is taking a look inside the hong kong protests in a special one-hour pro tem -- program. stephen engle investigates the causes and looks for a solution with prominent players from all sides. that is hong kong on age, this friday, at midday hong kong time, 2:00 p.m. in sydney. give your preview of what to watch in markets. sophie? sophie: going into the tuesday session, we have a string of pmi data from developed economies. the pmi data from japan came in its lowest since 2019. -- january 2019. for readings from germany and france. we'll get a pulse check from china. when hong kong opens, we will get the latest reactions from ab inbev as china ipo. they are said to price a listing at the bottom of its market rage again. -- range again. this will make a big dent in the $100 million debt burden. that's it for daybreak asia. stick around. this is bloomberg. ♪ here, it all starts with a simple... hello! -hi! how can i help? a data plan for everyone. everyone? everyone. let's se

selina: i'm selina wang in beijing.ting down to made -- asia's major market open. ♪ paul: here are the top stories we are covering in the next hour. the u.k. heads for a brexit election as boris johnson loses control of the parliamentary process. the vote denies the prime minister the right to negotiate the split from the european union.

selina: i'm selina wang in beijing. we are counting down to made -- asia's major market open. ♪ paul: here are the top stories we are covering in the next hour. the u.k. heads for a brexit election as boris johnson loses control of the parliamentary process. the vote denies the prime minister the right to negotiate the split from the european union. he says and hands power back to brussels. to braceg warns china for a long struggle. president trump says a trade deal will be far tougher if he is reelected. shery: a quick check of how markets closed in the u.s. after being back from a long holiday weekend. started firmly in the red. we had brexit concerns and trade tensions as well. the dow and nasdaq lost more than 1%. tech and industrials leading the declines. the s&p 500 showing its first loss in four sessions. we continue to see these concerns, not to mention that u.s. factory numbers that we got during the morning session, we also saw the worst contraction in about three years. treasury yields were under pressure. u.

selina: i am selina wang. in beijing. we are counting down to asia's major market open.top stories this figures underscore the pressure on china. slowing in the mainland economy. violence returns to the streets of hong kong. protesters call upon president trump for democracy. johnson pushes ahead with his brexit campaign. kathleen: let's get straight to market action and reaction. asia stocks are going for their fourth week of gains. we are seeing the nikkei little changed since the gdp a data way sow weaker than expected. data weaker than expected. private expenditures the main thing investors will be looking for. we are seeing pressure there, upward pressure on the u.s. dj pi, around the 106.9 three level. there is also a massive typhoon hitting tokyo, bracing for potentially record-breaking wind and rain that could affect airline companies. switching boards we will take a look at the kospi. the kospi was on a three-day streak of gains. it may continue, up .2%. the korean long trading around 1193 point 50 level. trade talks to continue next month. and more pressure fro

selina wang is here to tell us more. >> that's right.sonal tax exemption that they will be exempt from. this is a big deal for tesla because it meaningfully reduces the cost of a tesla, which is very important in growing the market. right now tesla gets about 11% of its revenue from china, and they are building this multibillion-dollar gige factory where they hope to be building their model three cars by the end of the year. they of course want this to be done this fast as possible, since right now china does already have pretty high tariffs on cars coming from the u.s., with additional ones in december. if you combine those, the duties on cars from the u.s. could be as high as 50%. there's a lot riding on this relationship with the chinese government, building their presence with the chinese consumers. have anything else of or did sociald, and having aup frugal visit? >> elon musk already has a high-profile presence in china, but it doesn't hurt his case when he is shown as a man of the people -- he went to a famous place in china and w

selina wang spoke exclusively to astrazeneca's executive vice president of international markets. : that is right. i spoke to the astrazeneca executive vp of international markets in china about how they are trying to expand their footprint in the country and take advantage of china's fast regulatory changes in the health care landscape. the backdrop is that china is a growing importance to astrazeneca. it recently overtook europe as it second largest market. now this british pharmaceutical giant counts china as about 20% of revenue. china has a rapidly aging population. they have increasing rates of cancer, diabetes, other chronic illnesses. these patients have significant unmet needs. to try to bridge that gap, the chinese government has been trying to lower health care costs and the costs of drugs but that has been putting pressure on these drugmakers. china has unlimited this bulk purchase buying products which has seen the products go down as much as 95% in some instances. at the same time, you have the chinese government significantly speeding up their approval process for th

asia's major selina: i am selina wang. in beijing.aybreak: asia" paul: our top story this as boris, brexit moves johnson loses control of the parliamentary process. he warns it could rack any parliament terry d.l.. deal. promissory he says that handsy initiative to brussels. shery: and warning china to brace for a long struggle, president trump says any trade deal will be far tougher if he wins a second term. brace this future uncertainty puts pressure on global markets. selina: as you can see from the red across my board, asian nokets shares trading lower clear resolutions the trade war and no clear meeting insight as well as tensions around brexit and huawei and weak manufacturing data. this points to how risky the trade war is for global economies. in japan the nikkei down slightly. we expect pmi composites today. look at the land -- the yen off of at 10 5.7 coming session lows of one of 5.74. 105.74. the kospi coast lower yesterday. 12114,5trading at level. -- weaker than expected 1211.45. in outlook that's already been battered b