shery? shery: still ahead, we speak to a founder about predictions for commerce, climate and the world order. we are live at the bloomberg economy form. up next, we are joined by the ceo of supply chain payments platform trade shift for his view on the global supply chain outlook. this is bloomberg. ♪ haidi: we continue to track the fallout of the supply chain crunch, and these are the top stories. china is accelerating plans to replace american and foreign technology by giving a government organization the power to it approved suppliers. the application committee will help set industry standards with about 1800 chinese suppliers invited. scott morrison is launching his own plan with a new list of 63 technologies to be protected, we are keeping an eye on the european commission meeting that they could be easing restrictions for the chip industry. shery: back to the bloomberg scoop on the tech supply committee, the push from local suppliers could hit intel, amd and amazon because global champ

shery.at the bloomberg new economy form and continue to discuss supply chain disruptions. panama canal seeing a jump in cargo, opening the market for grain, pork and lng. let's bring in panama minister of trade and industry ramon martinez de la guardia. on the panama canal, we hear that lng ships are piling up at the canal. our authorities doing anything to speed up the vessels' passage? ramon: they are managing the panama come now the same way they have been doing it for the past went to two years, since the canal was passed to the panama government. yeah, we need to connect with what is happening in the supply chain, and supply chain disruptions. shery: anything that that -- that can be done in the process at this point? ramon: it seems we'll manage. i am sure they are doing the best. shery: you said you had no plans to raise panama canal tells but we are seeing egypt raising fees for most of the vessels at the suez canal. are you reconsidering this? ramon: the venmo canal -- the panama ca

shery: i'm shery ahn new york, asian traders relentless u.s.espite inflation. the fed expected to confirm is going back of its asset purchase program.

shery: i'm shery ahn in new york. our top stories this hour. asian stocks set to extend declines after jay powell flagged faster tapering and admits inflation is no longer transitory. the omicron variant also weighing on sentiment as a cure makers are looking for vaccines. bear market territory as the u.s. moves to cool tensions with saudi arabia ahead of opec-plus talks. haidi: let's get you to the start of trading in australia. a torrid session over wall street. concerns of omicron, fears over vaccines to address the new varied that can take longer than expected, and very hawkish remarks from jay powell speaking in front of the senate banking committee. stocks looking flat at the start of the open on the aussie gdp day. we are watching the aussie dollar. holding steady after plunging to the 12 month low. that was the worst monthly result of november since march of 2020. downside when it comes to trading in new zealand. nikkei futures showing positivity. but we are looking like a down session overall. shery: u.s. futures are, but we are seeing

shery: zoom's cfo.ide after quarterly earnings disappointed in the company lowered guidance for next year. but near-term pressure may not be over. wall street's average price target is expected to fall for a record 18th straight week. let's bring in chief north asia correspondent stephen engle. what is the street on alibaba? stephen: it is not out of the woods on the regulatory front end macro economic front. a lot of headlines -- a lot of headwinds, revenue missed expectations on they lowered fiscal 2022 outlook to as low as 20% revenue growth. the street was expecting 27% for fiscal 2022. so, lots of headwinds on the regulatory front end macro economic front. it killed the rally we saw. shares, the adrs, had rallied as much as 20%, up to 180 dollars mid-october from the early october low of $139. now, they are back below that. and negative sentiment is piling up, with another four analysts lowering the price target. susquehanna was the latest. this is a short week in the u.s., but it is ending for a r

shery: i'm shery ahn new york, asian traders relentless u.s. stock rally as corporate profit margins rise despite inflation. the fed expected to confirm is going back of its asset purchase program. ev becoming a battleground. shares doubling on plans to go electric while tesla falls as elon musk reduces the order. haidi: and mixed start to asian trading despite these relentless highs and it comes to the u.s. session. we await the fed and other central bank action. kicking off this week with that abandonment of the yield target. we are seeing upside of about 2/10 -- .2%. new zealand up by .3% and a little momentum in the kiwi dollar after we did have better-than-expected labor market data out of new zealand this morning. s&p futures looking soft. also on the retreat ahead of the fed decision and the opec output target setting policy meeting expected this week. we are also continuing to watch reactions on the bond market. singapore bank earnings, expected to lift profit rebound out of the singaporean lenders. we are seeing income coming in above

shery: and good evening from new york. i am shery ahn. the fed warns risky asset prices rises makes susceptible to bigger crashes. it also flags crypto and the china property sector. growing fears of evergrande contagion as holders of -- say they have not been paid. plus, softbank plans a massive buyback after its record vision fund loss. personally taking a $1.3 billion hit. haidi: let's get you straight to the markets on the sydney open. what are you seeing? sophie: the start of cash trade in sydney, gains of about .1% after the index weighed on monday with reopening options back in the mix. improving economic picture showing up in metrics for businesses and consumers, as australia's reopening is gathering pace. after a six-day rally for us trillion bonds, yields eyes 180 again. earnings reflecting this economic recovery, james hardie to center group. when it comes to office rentals, bloomberg intelligence expects sydney's bond market -- as a return to market picks up. australia's biggest bank delivering a solid report card. profit beat

shery: we are counting down to asia's major market opens. i am shery ahn. our top stories this evening. china posts a record trade surplus despite mobile supply chain disruption. sell sell sell is the result from people on mosques twitter poll on whether he should offload twin percent -- 10% of his stake in tesla. haidi: straight to the markets. sophie: we are seeing downside pressure for sydney stocks. we are keeping an eye on bhp shares this morning. 80% of its stake. look at the aussie dollar holding below 74 after the dovish stance on rights despite an out pleat -- an upbeat outlook on the economy next year. we have this happening as australia is reopening its borders to international travel. we have markets pricing what could be aussie bonds catch a bit earlier. we had the 10 year yield falling by about nine basis points. crown resort shared this morning . watching the stock as the local media is reporting that blackstone has abandoned its takeover offer for the casino operator. across the region this monday morning, futures in singapore higher. we are

shery: and alert. chile is headed to a december 19 presidential runoff between conservative candidate and the leftist rival. we will have more on that later. the ceo of why lg -- ylh bullion futures expects brighter prospects for thailand's gold market, the third-largest in the world. after helping build the gold retailer to one of the nations biggest traders in the metal space. she spoke to bloomberg about how the family business has expanded and her outlook for the mental. >> in thailand, it has been improving for the covid situation. the gold market is increasing. last year, there was a lot selling in the market, which is on the opposite wave. maybe last year, people in thailand wanted to sell to get cash to use for our daily. last year. but, this year there is a lot more of gold bars. because of gold prices increasing, there is more demand. for tied people, most of us in gold 10% to 20%. gold is very liquid and tangible. in thailand, even the poor and rich keep investment assets. in thailand,, the

shery: welcome to "daybreak asia ." president biden stays the course, tapping jerome powell for a second term as fed chair, while picking his deputy. we speak exclusively to the atlanta fed chief in a few minutes. we will ask raphael bostic about his inflation outlook. also ahead, opec-plus warns the may taper supply increases if the u.s. and other nations release crude reserves. haidi: let's take a look at how we are setting up for the start of trading in sydney. this as asian investors wake up with probably some relief but it the continuity candidate president biden has picked to continue leadership at the fed. full steam ahead when it comes to the fed tightening with the rate hike, debt, and the acceleration of the tapering program. about .9% when it comes to trading in sydney here as we get that session underway. in new zealand we are seeing upside of about .5% going into rbnz decision week. the hike is already priced into markets. kospi futures looking very robust at 2.3% higher and s&p futures looking like a littl

making sure we get ready to shery: shery: ramp. coming up, the latest australian jobs numbers. there you have it. woah. wireless on the most reliable network nationwide. wow. big deal. we get unlimited for just 30 bucks. sweet. but mine has 5g included. relaaax people. my wireless is crushing it! that's because you all have xfinity mobile with your internet. it's wireless so good, it keeps one-upping itself. switch to xfinity mobile and get $200 back when you bring your own phone. or get a samsung galaxy a42 on us. call, click or visit a store today. paul: just waiting on the australian jobs numbers for october. they're not out yet, but the aussie dollar has reacted, dropping down. we are anticipating a slight uptick in the employment rate to 4.8%. the creation of 50,000 extra jobs. the participation rate is the number we are keeping an eye on. that has been falling as well, 64 .8% in the month of september. that, to some degree has been masking what we have been seeing going on in the jobs market. a big increase in the unemployment rate. 5.2 percent. that is up from 4.6% we sa

shery: our top stories this hour. the stakes are high as president biden and xi jinping old virtual talk -- hold virtual talks to ease tension. boris johnson calls it a game changer, some more and it pushes the hardest decisions into the future. key economic data from china with an eye on volatility in the bond market. we have breaking news. haidi: southwest gas naming 10 directors in an effort to do so. we have seen them threatening legal action on this front. the billionaire investor is opposing the energy plan to buy a company. he is to nominate 10 directors to replace the entire board. he holds a 4.9% stake in the company. they announced a deal to acquire a pipeline company last month. the stakeholder criticized the decision saying that he has been overpaying for the asset. we will continue to watch that. we are seeing that intensified battle there. trying to replace the entire board at southwest gas. let us get you up to date for the start of trading in sydney. >> we are seeing a soft start to cash trades over in

i'm shery ahn in new york. haidi: jay powell warns of the latest virus strain adds risk of inflation and uncertainty. president biden cautions against cannick. -- enter. panic. a change at the top it's twitter. jack dorsey handing over the reins to the chief technology officer. shery: we have breaking news out of south korea. we are getting the numbers for october. when it comes to the month on month figures, a contraction of 3%. the expected construction -- contraction was 0.1%. but the previous months numbers has been revised downward to a decline of 1.1%> . on a year on year basis perhaps we are seeing a little bit more favorable basis because this growth of 4.5%. the expectation was growth of only 2%. this coming after a contraction in the previous month of september. we are also getting the export numbers for south korea on wednesday, and that is going to show what the external demand picture looks like, especially as we get these new infections of the new variant. and how that will impact future economic

shery: the top stories this hour, bond yields tumble. after the boe surprise decision to stay on hold. >> opec-plus rejects president biden's call for production boost. shery: china's president signals he is open to discussions. we are seeing u.s. futures muted. the s&p 500 saw another record high. the nasdaq 100 gained for a night consecutive session. this is the longest winning streak since december. new jobless claims falling for a fifth consecutive week showing the downward trajectory when it comes to the jobless claims numbers and perhaps look ahead to fridays payrolls. we had the philadelphia semi index at an all-time high showing the latest results from these big companies and the big differences there. we had qualcomm leading higher, but recent earnings really disappointing from texas instruments, western digital, and micron. oil rebounding towards $80 per barrel. remember opec-plus went its own way sticking to the slow place -- slow pace of oil production increases. treasuries jumping after the boe shocked markets. 10 year yield

shery: are you back as well? dr.would welcome the application in the same way we would welcome any economy that is willing and able to meet our standards. having said that, there are obviously political compu -- complications and that. like many of the issues across the street, you do need resolution. you need a meeting of minds. shery: what about the meeting of minds when it comes to myanmar? the u.s. has talked about singapore having financial leverage on that point in order to help achieve democracy. dr. balakrishnan: what is happening in myanmar is a tragedy. a real tragedy. not just on progress towards democracy but its impact on the ordinary people. the increase in poverty, the pandemic, it's really a terrible shame that this has happened. the second point is not to overestimate the impact of external. it won't work. from years of working and engaging with people in denmark, we know that this is a nation that needs to resolve its internal problems internally without others trying to interfere. specifically on s

shery: welcome to daybreak asia. i'm shery ahn in new york. sophie: we are counting down to asia's major market opens. haidi: our top stories this hour -- asian investment -- investors look ahead -- evergrande possible against payment in months as -- bitcoin and either hit all-time highs, tim cook says he's a crypto investor and apple is looking into digital currency features. shery: we are getting the jobless rate out of south korea coming in at 3.2%, edging higher from the previous month of 3%. also coming in slightly higher than expectations, as we see more people getting back into the labor force. we are talking about a high vaccination rate in korea, the loosening of social distancing measures, and more people getting back into the workforce, so that is potentially helping the unemployment rate edged up. this is coming at a time when we've seen the most jobs added since 2014 already. south korea's adjusted jobless rate coming in at three point 2% -- slightly higher than estimates and slightly higher than the previous month. we have the au

shery: we have more on this.ow stuck with the backlog of around 7000 homes that needs to offload? >> we knew they were working to recover from this miscalculation , but news of the exact size of the backlog of homes they have. been able to -- have not been able to offload, almost 9% in the last session. people close to the matter telling bloomberg the company is seeking 2.8 billion dollars for the houses which are now being pitched to institutional investors. we are told zillow will likely sell the properties to a multitude of buyers, rather than packaging them in a single transaction. there have been no comments from zillow. if successful, zillow would make a significant dent in the losses they have taken on these homes. the company did acquire approximately 8000 homes in the third quarter. this is coming from real estate strategists. it's stock shared taking a big dip since hitting a high in february. zillow recently said it would stop making new offers for the rest of the year until it gets the backlog offload

. -- shery. shery: a good conversation. we can't leave them home, our poppies.mily chang, with a great conversation, on the future of traveling. we will get more in the next hour with the ceo of star alliance, to global network with 26 number airlines. let's get to vonnie quinn with the first word headlines. >> marketing spec patients are decided by keeping interest rates on hold. putting us good ability on the line, prioritizing risk through economic growth over central inflation. officials voted 7-2 to keep the benchmark rate at a record low 10 basis points. traders/rate hike bets. -- traders slashed rate hike bets. >> market pricing, i think, if you could tell from the comments we made today, are a bit overdone. >> president xi jinping said china is open to discussing key points of trade tensions with the u.s.. including subsidies to industrial firms and state owned companies. he said china will take an active and open approach on talks on issues like trade and the economy. the opening of the china international import expo in shanghai, he mentioned boosting

. >> i am shery ahn. a growing amount of market watchers say the fed may have to speed up its timeline. asian stocks set to follow choppy u.s. trading session. plus president biden and xi jinping begin their virtual summer shortly. -- summit shortly. taiwan is a topic set to dominate. >> asia is seeing a drifting start. a directionless session. tesla is nearing their market territory. that is what to watch when it comes to the supplies here in asia. this is what we are seeing when it comes to the a6. .1% at the last trade. we are seeing new zealand softer by .1%. we are just one hour away from the start of trading. s&p futures are looking pretty flat at the moment. we are watching bond markets regionally. all of this amid concerns that we will continue to see inflation move quicker. we have already seen some of those moves in this part of the world. we are getting these minutes. we are speaking a little bit later on. inflation is the trajectory from here. rate policy will be top of mind. >> it is all abou

shery: let us turn to vonnie quinn. vonnie: democratic senator joe manchin has slammed the door on the hopes of party leaders for quick action on the economic plans. he said congress needs more time to assess the impact of the 1.7 5 trillion spending package on the economy on the national -- and the national debt. he presented the plan as a compromise. to unite the progressive and conservative wings of the government. >> i will not support the reconciliation legislation without knowing how the bill will impact our debt, economy and our country. we will not work through that unless we note the text. vonnie: they have expressed concern on the cu in myanmar. they must provide a return to democracy. they met on the sidelines of the cop 26 conference where they also discussed the environment and the pandemic. the ceo of barclays has resigned amid a investigation into his ties with jeffrey epstein. he stepped out after u.k. regulators shared deployment area findings of their multiyear inquiries into what he told them about hi

shery: yet you are collecting more taxes.emain attractive for foreign investors as compared to your peers in the region? mnstr. aziz: we did announce one particular tax, which is the prosperity tax, a one-off tax that involves the marginal increase. it evolves 200 30 plus companies, large companies that make excess profits during the pandemic. it is a progressive tax of 9%. so it is not a big amount. like i said, it is only one-off and that is to assist in the funding of our health care package for the recovery from the covid-19 pandemic. shery: yet that has already led analyst to cut some of their estimates for companies on the market there. is there concern that your government may not be seen as business or investor friendly? mnstr. aziz: i am not concerned about that, honestly. if you look at where we are today, you look at the strength of the currency, the strength of the economy, the progressive tax involves just over 200 companies that are listed on the stock exchange. we have millions of companies in malaysia. and if

this is bloomberg. ♪ shery: welcome to daybreak: asia. i'm shery ahn.i'm haidi stroud-watts. asia's major markets have just open for trade. the landmark plan to tap reserves from u.s. to china underwhelmed oil markets. traders are watching for reaction from opec-plus. investors waiting that rate hike expected at a new zealand. the central bank may signal more and aggressive tightening cycle to control inflation. samsung announces more plans for its $17 billion chip plant in texas and a win for the u.s. supply chain. shery: breaking news out of singapore, we are getting the reading for third-quarter gdp. coming up on the upside, growth of 7.1% year on year. the estimate was for growth in the third quarter. quarter on quarter is a surprise to the upside, 1.3%, a much faster acceleration than previously thought. we saw manufacturing still contracting by 0.1% quarter on quarter, though construction remains strong. services also gaining more than 1%. singapore sees 2022 gdp growth at 3.25%. the final rating for singapore's third-quarter gdp growth surprising

shery: sources said the u.s.sharing intelligence with european airlines that shows a buildup of russian military preparing for potentially rapidly large-scale push into ukraine. our international government international report has been tracking this. do we have any idea at this point what president putin's intentions are here? >> that remains the big mystery because what we are clearly seeing is a very dramatic buildup of russian troops in various parts around ukraine that would facilitate a rapid large-scale invasion potentially as soon as next year. the one thing we do not know is what putin actually intends to do with those troops. brinkmanship. he has built up troops in the air before to provoke and cause trouble -- in the area before. the economy is not big enough to be a big player on the stage. and nato, he's worried about what nato is doing with ukraine. whether this is a warning signal to tell nato to back down from the area or whether there is an intent to make good on an invasion potentially is the bi

shery: still ahead, more insight into markets. but up next, the financial elite takes center stage on day three of cop 26. the latest from the climate talks in glasgow. this is bloomberg. ♪ shery: banks and asset managers representing 40% of the world's financial markets. a pledge to meet the goals set out in the paris claimant agreement. the glasgow financial alliance for ned zero is championed by mark carney. the group says it is a chart in more than 450 firms representing 100 $30 trillion of assets. meeting to science-based guidelines to reach net zero carbon emissions by mid century. haidi: greta thunberg not convinced. she says the fossil fuel industry and banks are among the biggest climate villains. the u.k. chancellor says the world must translate the billions of dollars of pledges into concrete action on climate change. >> i think it is really important we take a moment to step back and look at what has been achieved today. you talked about this alliance. it is an assembled 400 50 different firms representing $130 trillio

shery: we are counting down to asia's major market opens. i am shery ahn. stories this evening. china posts a record trade surplus despite mobile supply chain disruption. sell sell

shery: yet you are collecting more taxes.ill malaysia remain attractive for foreign investors as compared to your peers in the region? mnstr. aziz: we did announce one particular tax, which is the prosperity tax, a one-off tax. and it only involves a marginal increase in tax. it involves 230-plus large companies that made excess profits during the pandemic. it is a marginal tax, a progressive tax. of 9%. so it is not a big amount, and that is to assist the funding of our health care package for recovery from the pandemic. shery: that has already led analysts to cut some of their estimates for companies on the market there. is they're concerned that your government may not be seen as his nice or investor friendly? mnstr. aziz: i am not concerned about that, honestly. haidi: despite a corruption charge linked to 1mdb, we are seeing this potential come back of the former premier naji prozac. can you tell us what he brings to the table as an advisor? does it help the government's credibility to have him back? mnstr. aziz: i am no

one, right now, shery ahn is moderating.angers of a widening rich-poor gap, included is the vice president of tanzania, the founder and ceo of oz of finance, dan schulman and the senior minister for the singapore advisory board member joining for that panel. we will leave there. bloomberg subscribers can continue watching at live go, also later on this week as well. plenty more to come. this is bloomberg. ♪ yvonne: you're watching bloomberg markets: asia, we're live at the new economy forum. how have the discussions been like so far? when it comes to supply chains, is it still inflationary? how long will it take for these bottlenecks to resolve themselves? haslinda: speaking of inflationary environment, it's been a huge debate. the likes of stacy cunningham saying inflation is temporary and something we have been hearing from jay powell. it is to say? speaking of trade, some of the most widely discussed topics, for more, let's bring in the u.s. commerce secretary who joins us from this event. good to have you with us. you ar

shery: our top stories this hour.s are high as president biden and xi jinping old virtual talk -- hold virtual talks to

shery: and good evening from new york. i am shery ahn.ns risky asset prices rises makes susceptible to bigger crashes. it also flags crypto and the china property sector.

. ♪ shery: welcome to daybreak asia. i'm shery ahn in new york.counting down to asia's major market opens. haidi: our top stories this hour -- asian investment -- investors look ahead -- evergrande possible against payment in months

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shery: welcome to "daybreak: asia." the hottest u.s.nd in 30 years is said to wait on agent risk appetite. treasury yields search -- surged across --

shery: disney's call -- emily: disney's call is underway right now. we want to hear more about what was being said as well as production. >> we expect our total content expense between eight and $9 million in 2024. we will see the primary driver becoming more local and regional content. >> that call is still happening now. let's get more with the research director. look, big miss in new subscribers for disney plus. also, the number of new subscribers trailing netlist by almost half. -- netflix by almost half. >> did signal that we are going to have this kind of subdued number what -- what were called out where the factors that were a result -- they talked about the delta impacts on the supply chain. also, the latin america crunch. they are not structural or long-term factors. that is why we expect that this december quarter, we will see some type of rebound. i think the target they have set for fiscal 2024, there is nothing today that make sense believe they are not going to hit that target. it is a fair comparison when you talk about netflix and the

shery: the relentless rally pushed benchmarks to new high.tors look ahead to the fed expected to confirm

shery: it's day three of the bloomberg new economy forum.ries this hour, big tech drives the s&p 500 to a new record as traders see more volatility ahead of

shery: i'm in singapore for day two of the new economy forum.set to slip on inflation worries.

shery: the top stories this hour, bond yields tumble. surprise decision to stay on hold. >> opec-plus rejects president biden's call for

. >> i am shery ahn in new york. our top stories this hour.s fails to curb oils plan. traders watching for reaction from opec-plus. >> investors weighing a potential rate hike.

. >> i am shery ahn.unt of market watchers say the fed may have to speed up its timeline.

[heart thumping] >> sherie. >> oh, god. [laughter] [music] >> if only it were that easy; right?igured out what they put in blood pudding. that's a british delicacy. frankly this little study didn't account for what happens when two broheims break up. how does that work? >> horrible news i was only able to score two tickets to the leopard on saturday and i'm taking kyle. >> we are bros, but he's got a 2017 wrangler sahara we can take the top off and blast tunes and his brother's the matre-d at p.f. chang's. it's kyle, he can't make it. will you go with me? >> pour some sugar on me, bronameth, let's do this. >> that was beautiful. i teared up, jamie. you seem like an emotional guy. you obviously have had relationships. you children. >> yeah. >> yeah. >> i have, yeah. i wish i had that love trap thing for when i had gotten divorced. it would have just been so much easier because after we did it she said a bunch of stuff. i felt like i wouldn't have been to hear it if she's down in the thing. hey, by the way. >> yes. >> um, some relationships aren't meant to last and it's okay. >> r

shery: welcome to "daybreak asia ."tays the course, tapping jerome powell for a second term as fed chair, while picking his deputy. we speak exclusively to the atlanta fed chief in a few minutes. we will ask raphael bosticbo

shery: weighing a potential rate hike in south korea, with visions that the bok may turn hawkish in the

. >> good evening, i am shery ahn. u.s. stocks set new records on solid corporate earnings.s have topped wall street estimates. >> the

we are counting down to asia's major market -- major market shery: i stocks extend record highs and thesteepen after the fed signals it is in no rush to raise rates. haidi: qualcomm's rallies and surging demands and brightens

shery: i am here where global leaders are gathering to discuss challenges facing the new economy. get to the markets.

. >> great conversation from our very own shery ahn.nue the conversation here and bring in our next guest who runs the consumer health division at bear -- bayer. the company plans to expand distribution of the -- of its existing brands over the next 2, 3, 4 years. good to have you with us. what is driving this excitement, especially post-covid? >> asia is, of course, an extremely exciting market for the obvious reasons of the population and economic growth, but we are also seeing the dynamics of growth not only in china but also in southeast asia remained extremely healthy, so we are very focused on investing well and growing. >> in what ways has the world changed because of the pandemic? >> if we look at health care, we should divide it between health care -- for 20 self-care and sick care. the self-care part is about living healthy, diets, lifestyle, but also supplementing your diets and taking care of minor illness yourself. maybe as a good example, during covid, we learned how important it was wearing masks, taking care of your immu

shery: i'm shery ahn in new york. our top stories this hour.s set to extend declines after jay powell flagged faster tapering and admits inflation is no longer transitory. the omicron variant also weighing on sentiment