shery: good evening. i am shery ahn. our top stories this hour. asians box set to gain ahead of friday's u.s. jobs report with wall street hitting new highs as earnings overshadow virus worries. the delta variant is pending return to office plans at blackrock and wells fargo. robinhood's rally reverses as early investors moved to unload shares less than one week after its ipo. haidi: we are in the final stretch. let's take a look at how we are setting up for markets in this part of the world friday morning. sophie: we are seeing futures looking mixed in asia on a busy friday as we wrap up the last trading week of august. they are still nagging u.s. peers. a vote of confidence from goldman. earnings growth and low interest rates. speaking of rates, we get the rbi's see decision. no change expected as the central bank is seen tolerating price pressures paid the quarterly update, the aussie dollar holding 70 ahead of that and check out wti headed for the first weekly drop as markets assess the impact of the delta variant which has seen headwinds incr

this is bloomberg. ♪ shery: hello and welcome to daybreak asia i'm shery ahn in new york.m sophie kamaruddin in hong kong. haidi: i'm haidi stroud-watts in sydney, looking at the markets opening. asian stocks are set to track u.s. gains and strong earnings. the sec demands all chinese companies listed in the u.s. reveal more on investor risks. we will hear exclusively from gary. kathy would tells us she has rejoined the bargain hunters and chinese tech. shery: let's turn to sophie for all of the action. sophie: looking to see if asian stocks can sustain the momentum for the regional index since february. we are seeing upside move to the nikkei and the topix with this benchmark set for a period month higher when it comes to its outpacing of the emissivity -- msci index gauge. there is a little changes morning. looking at doj bond buying. i am also going to be gauging reaction to local media reporting that japan could add ¥1.4 trillion in virus release. keeping an eye on yen, we are seeing it again as it becomes the world top car part supplier. in south korea we are watching

shery. vonnie: president biden urged businesses executives to improve cybersecurity across critical infrastructure and the economy. meeting with ceo's from companies including apple, alphabet, and j.p. morgan, the president said the cybersecurity workforce is not going quickly enough. recent cyberattacks hit infrastructure including colonial pipeline and jbs as well as microsoft and solarwinds. antony blinken says 1500 americans are still in afghanistan. he says the u.s. is relentlessly trying to reach them but does not believe all of them wish to leave. evacuations must end within the next few days to allow enough time for remaining troops to pull out by a president biden's deadline of august 31. lincoln emphasizes -- >> it is hard to overstate the complexity and danger of this effort. we are operating in a hostile environment in a city and country controlled by the taliban with the very real possibility of an attack. vonnie: israel's new prime minister will oppose u.s. led efforts to reviv

shery: good evening from world headquarters in new york, i am shery ahn. years, the taliban enter couple after the president leaves in the u.s. embassy is

." >> good evening shery ahn.sian investors start the week with a slow down and chinese experts grow ahead of inflation data later. >> alibaba says it is firing a manager accused of sexual assault. the ceo, saying the company must rebuild its actions and thinking. >> the u.s. infrastructure debate hits the slowly with lawmakers unable to agree on which amendment to consider. >> let's take a look at the start of trading here in asia. what are you watching? >> we are seeing stocks mixed. without the bound rally take a breather -- bond rallies take a breather. a better than expected jobs report. goldman noting it may take longer for u.s. yields to rise. they've cut their year and forecast for the u.s. 10 year yield to 160 from 190. the 10, back above 122 this morning. we are seeing w a check extended decline below 67 bucks a barrel this morning. the worst week since october with adult to spread clouding the demand short-term outlook. ahead of inflation data, pulling up the chart on the terminal, a lot of focus on chi

shery.a surge in inflation, falling unemployment, and the federal reserve's tapering of bond purchases, jay powell is expected to weave all of this together in jackson hole on friday. kathleen hays is here with the latest. last year, the headline was that new policy framework that powell announced. is that still viable right now? kathleen: it certainly was in play but a lot of people have questions about it and just think of a year ago, the fed said we had a decade where we could not get inflation to go to the 2% target and stay above it. the economy has been battered by the pandemic and now, they are going to let the economy runs so hot that inflation will get about 2% and stay there. maximum employment. employment got down to a low of 3.7%. now, you can see what has happened. the big surprise that the fed was not counting on was massive stimulus. in the rapidity with which the economy pulled back out of the pandemic -- thank you very much. i want to show a chart. that is what i was thinkin

shery: good evening from bloomberg's world headquarters in new york. i'm shery ahn. for modern -- gains. the u.s. inflation print could help revive reflation trade. looking ahead to key earnings out of hong kong. hks and cathay pacific set to report. a steelmakers get a boost as the biden infrastructure bill passes the senate. haidi: we are getting second-quarter gdp, the final reading for singapore. the number coming in at just a contraction of 1.8%. slightly better than expectations of an extraction -- contraction of 2.3%. gdp year on year for the second quarter, the final number at 14.7%. that is better than expectations, and a bump from the previous reading of 14.3%. looking at the breakdown in particular, we see the manufacturing sector contracted 2.5% quarter on quarter, construction contracting 7.6%. service is seeing a milder contraction. singapore just emerged from the latest round of covid restrictions. singapore revising the 2021 gdp growth estimate range to 7% from a prior range of 46%. really seeing a boost as the country has hit the 70% vaccination leve

shery: i am shery ahn in new york. welcome to "daybreak asia." a choppy wall street session. the virus and taper talk way on the economic outlook. commodities feel the pain of china's credit tightening. copper heading for its worst week in two months. adrian orr tells us october is a meeting for interest rates. as it defends this week's decision to hold. governor orr's decision was dependent on the virus cases in new zealand. add to the virus delta concerns, not to mention the fed tightening concerns, and you have a pretty worried market. haidi: expectations are that you will see a bit of a move in the currency when they decide to go. it is interesting to see these implied rates falling a bit as the conversation continues. so much uncertainty as new zealand tries to stick to its covid zero strategy. let's take a look at how markets are setting up for the last trading session of the week. sydney futures up by .5% over in japan, getting cpi numbers, looking flat as far as the futures session euros and dollar strength is really in the backdrop of this session when it comes to as

shery: and for the evening from new york. a caution open despite wall street records as the pandemic and china's crackdown dampened sentiment. tencent

shery: i know. concerned about right now, how much our starbucks coffee will cost. [laughter] haidi: inflation when it comes to avocados has come down quite a bit. another significant one in the basket for us. let's get you a quick check of the headlines. shares of game developer -- will begin trading in what is said to be south korea's second largest debut. they raced around $3.8 billion. they make a popular survival shooter pubg, had to revise the price. amc entertainment posted there were losses than expected, even as the movie industry struggles to draw fans back into cinemas. revenue soared to almost $445 mi llion. they say customers are returning after the entire industry shut down last year. we doctor is said to be fueling questions about the hong kong exchange ahead of its ipo about how it is complying with beijing's new cybersecurity rules. it's been looking to raise up to $3 billion through a hong kong listing as soon as september. chinese companies into list offshore have been facing more

shery: i am shery ahn. our top stories this hour commission stocks set for early gains after new wall street highs, moderating u.s. inflation easing concerns about eminent fed tapering. kansas city's esther george is the latest to call for a dialing back of stimulus. plus china signals its corporate crackdown will be deep and sustained. the next target, online insurers. we are seeing some upside for asian futures headed to the open after wall street saw those record highs with cpi starting to moderate in the month of july. we are talking about a growth of 5% from june. we have seen of course concerns about this infrastructure package here in the u.s., not to mention that on the same day of the u.s. cpi print, we had the $3.5 trillion budget package, so president biden does not seem worried. he says that will not stoke inflation. >> it is quite interesting when you take a look at the elements that have stoking that inflation n basket. it does feel like maybe there is that delta driven slowdown that is puttin

shery: what about talk of herd immunity?be the general that if you got 70% of your population vaccinated that get you there. but now we are seeing very contagious variants. >> that shifted the number. we have seen other variants. it has really changed everything. now we are talking 80%. there is still support. it really has been a game changer. we have really relied on that. shery: these strategies are gone. what are some of the risks until we get to herd immunity? >> we are really celebrating our vaccine uptake. we are in lockdown. things are not overwhelming yet. we are celebrating our rollout week to week. we get to 200,000 doses in a day. we will do that. we will achieve that. by november. if we can get there in that time , it will take a lot of work. we are still not clear in queens land. shery: it was great having you on. thank you. vonnie: the chinese city of wuhan as completed covid testing on more than 11 million people. this afternoon cases were reported. those people have been taken to hospital. bytedance is reviv

shery: and good evening from new york. i'm shery ahn. the top stories, u.s. stocks extended gains. the s&p 500 and nasdaq hitting record highs as investors await the fed's jackson hole symposium. haidi: the bank of korea also invoked today, as economists are split on the chances of a hike as the central bank weighs debt versus delta. shery: qantas losses -- we will break earnings this hour. this is the picture across ross street. u.s. futures muted after the record high on the s&p 500. the caveat it was lighter volume is the normal given we are headed towards jackson hole. financials and energy led the gains, not surprising we saw the 10 year yield rising to that two week high. not to mention the wti rose given stronger equities. u.s. crude stockpiles dropping to the lowest since january 2020, although in the asian session we are seeing pressure. chinese adr's also gained ground for the fourth consecutive session. it was in the negative for most of the session but it did manage to gain ground. of course the tea topic today was another record high for the s&p 500. we are talking abo

shery: good evening from world headquarters in new york, i am shery ahn.ack after 20 years, the taliban enter couple after the president leaves in the u.s. embassy is evacuated. we are looking ahead to key data from japan and china, where the delta variant threatens to dampen recovery. bhp's petroleum division makes it the top player in premium oil and gas. and of course, hyvee we have u.s. equal data. we saw the consumer confidence data plunge into a 2011 low. we are hearing from the minneapolis fed president saying he needs to see a strong jobs report before he can start talking about tapering. the gtv chart on the bloomberg showing how the jobless rate has improved. 15% at the start of the pandemic . neel kashkari now speaking to bloomberg outlets podcast saying that employment could be higher than pre-pandemic levels. haidi: yes, wendy to get the labor market pre-covid levels. and of course we are watching out for the gdp number for the second quarter coming out of japan. this is a preliminary number. japan has gone through so many rounds of states of

shery: the u.s. house of representatives adopting that 3.5 trillion dollar budget resolution, pushing forward a core component of president biden's economic agenda. courtney rosen joins us with the latest. there was a lot of political maneuvering. tell us what happened and how this sets up the infrastructure proposal as well. courtney: president biden has two proposals for congress -- this $3.5 trillion budget blueprint with investments in education and childcare. that he has a separate infrastructure bill that touches roads and bridges. today's speaker, -- today, speaker nancy pelosi was balancing the needs and wants of progressives and moderates who are jostling over whether they will vote for both or 41 and the speaker needs all their votes to pass. today, the house agreed to pass 3.5 trillion dollar budget blueprint and agreed to vote on a separate infrastructure bill by the end of september. haidi: what are the next steps we will be watching out for? courtney: it's all about the details now. com

shery: i am shery ahn in new york. china's crackdowns and the spreading delta virus set to subdue asian risk appetite despite another record close on wall street. beijing tightens funding for struggling residential property developers, restricting investment from private equity. airbnb tumbles in late trade after blaming the covid resurgence for on explict did declines in -- unexpected declines in bookings. surprisingly, we continue to see these very small market moves. some investors saying the market is full of very reluctant bulls. this is the narrowest range since 2019. the s&p 500 swinging an average of just .5% each day into august. it could be the calmest month since november 2019. haidi: how do we characterize this trading action? a lot of this is to be without a variant concerns over what this reopening looks like. we are hearing from another tech giant. facebook saying they do not expect to go back in the office until january 2022. really just adding to the number of companies, whether it be big tech like ama

shery: welcome to daybreak asia. our top stories this hour -- china's security regulator calls for talks with the sec after leaks over beijing's crackdown trigger leads -- cell -- leads to a selloff. square in an all stock agreement worth 28 million -- $28 billion. haidi: these are the stocks to watch going into trading in sydney. we are seeing more positivity when it comes to the start of trading in asia, that risk off sentiment we saw, asian buyers looking to buy the dip after what was a pretty horrible week last week. we are expecting something of a u-turn when it comes to the timing as well as bond buying purchases and that cash rate staying on hold as parts of brisbane go into lockdown, further weighing on the economic recovery across the nation. chicago nikkei futures up as well and a bit of a recovery from friday's session, just shy of half of a percent. shery: we are waiting to see how the markets react to the back and forth between beijing and washington. china's security regulator seeking more talks with it

shery: good evening. i am shery and. our top stories this -- i am shery ahn. our top stories this hour. hawkish comments from the fed vice chair. as global virus cases top 200 million, the who calls for a halt to booster shots to help poorer countries catch up. nintendo quarterly profits set to slide with switch sales flat and the lack of new games to drive revenue. haidi: let's take a look at how we are setting up for markets. a pretty modest getting. sophie. sophie: hearing muted price action this thursday. plenty of earnings to get through with nintendo, konami, and others reporting from japan. we get inflation updates from taiwan, philippines, and thailand. nikkei futures little changed this morning with japanese stocks getting a boost when it comes to the outlook, upgrades on cheap valuation and typical exposure. while the bank to cut its view neutral on vulnerability to higher yields. we are seeing treasury futures tick slightly higher after a mixed cash session that had fed clara does remarks in -- clara data -- clarida's remarks in focus. it will conti

shery. shery: let's turn to malaysia.earch for a new prime minister narrowed to two front runners. the national alliance, the main opposition -- our next guest says any downgrade aside from politics. it would be because of economic uncertainty joining us -- economic uncertainty. joining us is our guest. great to have you with us. let me start with the economic picture in malaysia. how dire are things given the pandemic as well? >> well, for example, the forecast for malaysia's economic growth has been half because of the mounting pandemic numbers for example up to 20,000 of new infection cases everyday. the hospitals are stretched to the limits in terms of accommodating various asians exhibiting serious symptoms. shery: we are expecting that analysis from the palace. what are your prospects here and how significant could this be for the country? ei sun: of course, the front runner is indeed the immediate path of the deputy prime minister. if he were to become the next prime minister, it would be more of the same. mainly t

shery: the summer lull.cials room to focus on tackling financial risks. joining us now is china economy editor james maybury. james, but data are you watching? james: last month, the government released data on the amount of bonds they sold the first half of the year. local governments, cities, provinces, sold 1.9 trillion dollars in refinancing bonds. but they only refinanced $1.2 trillion in yuan on the books. a lot of economists were looking at that almost 700 billion you uan gap and they think that is being financing -- being used to finance off the books government debt and they say off the books government debt is a security risk this year. this is not a new problem, but the government stepped up the rhetoric this year. we really need to deal with local government debt that is off the balance sheet and local government financing vehicles that governments use to borrow money that they can pay for construction and things like that. it looks now like local governments, cities, are doing what they are bein

shery: i am shery ahn.ries this hour commission stocks set for early gains after new wall street highs, moderating u.s. inflation easing concerns about eminent fed tapering. kansas city's esther george is the latest to

shery: great to hear that insight.et's turn to our next guest who says the focus on this taper timing is misplaced. investors should watch the fiscal policy past. joining us is customer smart -- is christopher smart. always great having you with us. we continue to have these talks in congress about the infrastructure package. are these the issues investors should watch when trying to determine where the markets are going? christopher: obviously, the fed, the news this coming week, the mood from jackson hole will be important. but i think in your opening piece, you got a sense of that mood music, which is tapering is coming and we are not going to be seeing $120 billion of monthly asset purchases through most of next year. again, the big question -- the bigger question is, what sustainable growth rates are possible and likely once we return to a more normal level of activity? that will depend more on the infrastructure bill, the $1.2 trillion that has been agreed on on a bipartisan basis, and then the bill that will com

shery: evening. i'm shery ahn. the top stories this hour. u.s. stocks decline along with treasury yields on soft u.s. manufacturing growth and lingering apply constraints. haidi: the spreading delta variant hangs over sentiments for the u.s., as a delay in vaccine milestones. 70% of adults having at least one dose. shery: investors and analysts backs shares $29 million takeover of aussie payment platform after pay. this is a picture where we are seeing you was futures gaining ground. this after the s&p 500 fell in the regular session. we saw a s&p 500 and the dow paring back earlier gains after the weaker than expected manufacturing number. we also have the 10 year yield falling to as low as 1.1%. 1.1 5%. finishing the session at the 117 level. that pressured the dollar. wti crude gaining .4%. after tumbling by the most in two weeks. we are off to a shaky start when it comes to the august month. given that we have seen a run-up in crude prices already above that $70 a barrel level. take a look at square and how they ended. it was really about thi

shery: good evening. i am shery and. our top stories this -- i am shery ahn.ries this hour. hawkish comments from the fed vice chair. as global virus cases top 200 mi

shery: thank you so much. to have your perspective on this tragic new development for women in afghanistan to professor of international relations and director of the gender, peace and security center. let's get to vonnie quinn. vonnie: recovery efforts in haiti are gaining momentum after a devastating 7.2 magnitude earthquake struck at the weekend. facing criticism over a slow government response, the prime minister said his administration will act with greater speed. the announcement comes as tropical depression grace takes aim at the nation kid so far, nearly 1300 deaths have been reported along with nearly 6000 injured. hong kong has heightened travel curbs for residents returning from 16 countries including the united states, france and spain. about-face comes less than two months after started easing some of the strictest quarantine measures. effective august 20, those returning from countries deemed as high risk must quarantine in hotel for 21 days. tourists and residents from the unvaccinated list are

this feels like the first fight out of many on this front should shery: shery: perhaps the crypto industry not having those powerful lobbyists in congress. not like in the pharmaceutical industry. we have more on the political front because here in new york, we have the resignation of andrew cuomo as the governor. in two weeks, we could see new york's first female governor. kathy hochul is a veteran politician. she was not that present during the pandemic press conference as we had last year. she faces this new challenge of trying to rein in the delta variant. haidi: particularly as we see big cities including new york being affected by the rise in infections. that is continuing to plague the return to work plan. we are hearing the likes of citi requiring its workers to go back to the office. also big american cities like chicago, philadelphia, boston, requiring them to be vaccinated. what are the more restrictive -- one of the more restrictive requirements. amex pushing back the day to return to office until the 11th of october. this feels like shifting goalposts when it comes to corporat

i am shery ahn in new york.ophie kamaruddin in hong kong. >> i'm haidi stroud-watts in sydney. our top stories this hour, a cautious open despite wall street records as the pandemic and china's tech crackdowns dampen sentiment. tencent considers restriction on kids in gaming after the spiritual opium rebuke sent the stock plunging. a new study shows the delta variant pushing the threshold for herd immunity to well over 80%. let's take a look at trading in asia. sophie: kicking off with a open and tokyo, after we saw the nikkei 225 closed lower on tuesday, we are seeing downside pressure for the benchmark while the yen is testing that 109 level. pdp traders will be watching for bond buying. we are watching from results for softbank. earnings are due from cookout. innovation reporting this morning. shares after the company signed a deal to develop an mrna vaccine platform. the kospi extending gains for a third session. the korean won is slightly under pressure while we are seeing korean won futures tick, traders a

shery: good evening from bloomberg's world headquarters in new york. i'm shery ahn. the u.s. gives full approval to the pfizer biontech shot. the fcc reportedly issues new disclosure requirements for chinese companies seeking to list in new york. we look at the fallout of beijing's corporate crackdowns for global investors in an exclusive interview with the msci ceo, henry fernandez. despite the challenges, we saw chinese adrs getting ground today, broad risk-on with the nasdaq composite and nasdaq 100 surging to record highs. we had more positive economic data when it came to those july existing home sales upsetting weaker pmi numbers but of course we will be watching what happens with those headlines because they came after the market close. haidi: absolutely. we are expecting more pressure when it comes to chinese adrs given that we are now seeing the fcc leaning ever harder in the regulations on chinese ceo's, wanting more transparency on how these structural setups are being made and this ongoing conversation about requiring more transparency from these companies. it doe

shery: it is all to do with china. the weighting of china and it to broader emerging markets really hitting broader global stocks and equity levels we have seen so far. we have seen china you -- lose $1 trillion. started with a crash in u.s. listed education firms after regulators announced a sweeping overhaul. tuesday saw tencent saying it is stop accepting new users for wechat, and the index of u.s. listed firms loosed -- lost 1/5 of their assets. wednesday sought chinese security regulator call on investment next to shore up confidence, but the resulting calm was short-lived. the week wrapped up with a meeting pledging improvements in the system for improving overseas listings. this is causing some soul-searching. the air of uncertainty is still very thick at the start of the week is the sec blocked chinese ipo's. china security regulator is seeking to find a suitable resolution. let's get more from new geon. what has been chinese regulator's response this weekend to the decision? >> over the weekend the chinese sec

shery.re in the u.s., we had jobless claims improve slightly after the july adp private payrolls #a significant mess. let's discuss what to expect. we are joined by an economist at wells fargo. shannon, great to have you with us. we have been getting mixed signals on what to expect tomorrow. what are you seeing? shannon: we are forecasting the employers added 835,000 jobs in july. considering that pace on top of the gains with june, we are expecting it to continue and we expect some of the labor constraints that have really been plaguing them your today will continue to ease. we are confident is pretty outside -- on top of that already strong -- shery: already, we are seeing the participation rate well below pre-pandemic levels. the latest with the delta million spreading across the u.s. and more and more companies delaying the return to office planned, what does that mean in terms of hesitancy of going back to work? shannon: you bring up really the biggest risk to the labor market recovery

. >> i am shery ahn. our top stories this hour, president biden defends the afghanistan withdrawal as chaos erupts in kabul. he says america's mission was never about nationbuilding. the s&p 500 now double its march 2020 low. berkshire hathaway cells stocks, including biogen and liberty global while adding to just three positions last quarter. this as we continue to see record highs in the s&p 500, perhaps on concerns about rising u.s.-china tensions. the sec chair saying investors should know about the risks of chinese companies, that american investors do not know everything about some chinese firms listed in u.s. stock exchanges. this coming after we have seen the regular holding ipos of chinese companies until they lose disclosures. haidi: we have seen that continuing to play out, chinese tech stocks slumping on monday after another round of it is is him from chinese state media or online gaming. tencent falling. the messaging has been clear. china should tighten regulations of online gaming to ensure

. -- >> good evening, i am shery ahn. policymakers are divided on the taper timeline. >> a warning from tencent, the chinese tech giant said investors should be bracing for more regulatory curves -- curbs on the sector. >> we are seeing u.s. futures under other bit of pressure but this is after the s&p 500 fell from the july meeting. most officials agreeing the taper timeline could come later this year. a little bit of a mixed bag on exactly when but when it comes to pairing back asset purchases, it seems those consensus is are ready for this year. we had stopped briefly rebounding but given the minutes also showed most officials saw benefit in treasury tapering, we continue down. we had wti dropping to the lowest since may. it is surprising given the meant outlook. a little bit of turmoil in the treasury and dollar market but not much change there. the dollar still at that one month high. look at this chart on the bloomberg. it is all about what the minute said. we are seeing the fed's referred inflation target. given th

shery: i am shery ahn. our top stories this hour.ide kabul's international airport kills at leasfg

shery: i am shery ahn. our top stories this hour. explosions outside kabul's international airport kills at least 60 afghans. president biden says the u.s. will retaliate. investors eyeing cues from the jackson hole symposium. three policy hogs urged the central bank to move quickly on tapering bond purchases. asian stocks eye a cautious start on the geopolitical tension following the afghan blast. it was about fed officials talking today including robert kaplan and jim bullard, talking about fed tapering and how we should be starting to move more quick lee. esther george saying the risks from delta do not alter the taper urgency and it is important to get darted while scaling back bond buying but when it came to the market moves for today, it was really interesting that it was the afghanistan headlines that have not moved the market that much in the past that really made an impact on asset prices. paul: the situation in afghanistan did take a turn for the worst in the past few hours. two blasts killing 12 u.s. soldiers. a total of 6

shery: thank you so much. with his views on the company and the broader auto industry as well. we have an alert on the bloomberg. the secretary of state of the u.s. is saying in a tweet that the belarusian government sought to commit another act of transnational repression by attempting to force an olympian to leave japan after she criticized sporting officials from her country. she has actually received a visa to go to poland for protection. we are now getting a reaction from the united states. plenty more to come on "daybreak: asia." this is bloomberg. ♪ haidi: steady as she goes when it comes to asian markets at the moment, let's look at what is going on. sophie: we have mixed trading for asian markets with the si 200 retreating from the record close on monday. switching out the board in tokyo, financials dragging on benchmarks there as well. shares of one company lower despite the bank with a strong first quarter profit report. new zealand shares falling this morning. it is expected the customer segment wi

shery: i am shery ahn in new york.rackdowns and the spreading delta virus set to subdue asian risk appetite despite another record close on wall street. beijing tightens funding for struggling residential property developers, restricting investment from private equity.

shery: i am shery ahn in new york. welcome to "daybreak asia." a choppy wall street session. and taper talk way on the economic outlook. commodities feel the pain of china's credit tightening. copper heading for its worst week in two months. adrian orr tells

shery: the economy may not have that much substance.is amazing that we are having a housing boom and a big spend up in a year where we had a negative national income shock so that does raise questions about how much substance there is once the housing market cools. it is facing a lot of headwinds now with tightening policy, for example. even as rate rises are slower in the previously expected -- there are still headwinds. shery: sharon zollner, great to have you with us, joining us from auckland. you can turn to your bloomberg for more on the rbnz decision later. get commentary and analysis from bloomberg's expert editors. also be sure to tune into bloomberg radio to hear more from the days big newsmakers -- day's big newsmakers and get in-depth analysis from the daybreak team. we are broadcasting live from our studio in hong kong. listen via the app, radio plus, or bloombergradio.com. plenty more ahead. stay with us. ♪ shery: we are eagerly awaiting the results coming from 10 sent. china's largest tech company seeing tons of headwinds

shery: there has been pressure for a while.hether it is an antitrust crackdown or gaming addiction. they already have measures in place. they are now pledging more further measures to rein in playtime for minors. we are talking about only one hour of gaming allowed for kids during the weekdays. banning those inapt purposes by kids. even footing the idea of banning gaming for children under 12 years old. these are measures in the crossfire of another measure of beijing. as you said, those very strong words, opium, saying that the industry should proffer by bracketing an entire generation. not surprising, this gtv chart showing their furthest from the target price on record. other chinese gaming stocks are at u.s.. emily: meantime, the crackdown taking a toll on alibaba. the company recording results not too pretty. what do you see in there? shery: we were watching closely because it was one of the companies actually hit by chinese authorities cracking down on the tech sector. first quarter revenue actually missing wall street's

shery ahn: an update on the infrastructure bill.rom chuck schumer on the senate floor, saying they have the agreement. we had heard the senate was incrementally getting closer to passing the infrastructure package after what has been a drawn out debate. there were a number of proposed changes, one related to cryptocurrency. we reported earlier that senators reached a compromise on that requirement. we heard from chuck schumer he expects a vote on that tuesday. after that, the senate will turn quickly to passing a budget resolution to pass the remainder of president biden's economic agenda. we are hearing from majority leader schumer that there has been an agreement on the final passage of the infrastructure deal. >> looking at the terminal, we are seeing bonds under pressure this morning. the apex index little changed for a second day. we are seeing gains for names like samson biologic. to the downside, names like nintendo. futures under pressure as china's efforts to curb sectors on the mainland are taking effect. the dollar holds

shery: and good evening from new york. i'm shery ahn. the top stories, u.s. stocks extended gains.hitting record highs as investors await the fed's jackson hole symposium. haidi: the bank of korea also invoked today, as economists are

shery: evening. i'm shery ahn. the top stories this hour. u.s.along with treasury yields on soft u.s. manufacturing growth and lingering apply constraints. haidi: the spreading delta variant hangs over sentiments for the

quite good evening, i am shery ahn. the top stories this hour. investors watching for clues on the paper timeline as the jackson hole summit goes virtual due to the spike in kobe cases -- covid cases. scott morrison says a return to zero cases is now unlikely. >>, harris -- kamala harris begins her southeast asian tour. this is the picture across wall street. we are seeing wall street futures muted. this as the s&p 500 gained for the second session. this was the longest week of losses in a decade. we saw the msci finish higher in the friday session but we are talking about the first weekly fall in for the dollar index right now. it is at the highest level since november on the bloomberg doll index. wti at the moment continues to extend losses .4%. this would be the it consecutive loss since 2019. we have to watch to be to cloudy pricing. this is the very high correlation between stocks and commodities being shown. equity traders need to watch what is happening in the commodity space. the spread between the highest and lowest s&p 500 target by ana

. -- >> good evening, i am shery ahn.are divided on the taper timeline. >> a warning from tencent, the chinese tech giant said

shery ahn: good evening. the top stories. u.s. stocks record highs. bonds railing.ed, reducing concern about fed tapering. >>

. >> i am shery on the top stories this hour. u.s. stocks rise.al could lead to more vaccine mandates. >>

. >> good evening, i am shery ahn.tories this hour. >> another day, another record high for the s&p 500 as it settles into the narrowest trading range before the pandemic. quite a fairytale earnings report for disney as

shery: good evening from bloomberg world headquarters in new york. u.s.record high in strong earnings in a rally in commodity prices outweighed covid concerns. haidi:

shery: good evening from bloomberg's in new york. u.s. a record but tech weakness exposes lingering concerns about the virus and a hawkish fed. haidi: