today, singapore, we are ending our circuit breaker.ough this whole lockdown, because there was a period where it was being prays for how he was dealing with coronavirus, but then because it's a small city state, it relies on globalisation, a lot of cases we re on globalisation, a lot of cases were imported and that had an impact as well. yes, it did, because any first wave in january, as well. yes, it did, because any first wave injanuary, it as well. yes, it did, because any first wave in january, it was coming... the second wave came from singaporeans. a fraction brought the disease back to singapore and that started the second wave, which is what accounted for a large rise in the number of cases that we have in singapore. in terms of migrant workers, obviously singapore depends very much upon its good workers. what is the situation with those people now? will those people be going back to work in a more phased approach? for the migrant workers, we we re approach? for the migrant workers, we were fortunate we were able to stabilise t

americica is the larargest foren invevestor in singapore i in fat americaa has more investeted in singapore and in n southeast h. dan emerica has invesested in china korea and j japan comombi. so i always remindnd the amerirn admiministration thahat they hae got real statakes in southeastst asia and t this i is a r relatip whwhich benefits the people in americica andnd the peoeople in singapore. secondlyly america saga it has is a largest tradining partnerer west servics consent and all third largest trading partner of goats now if you look at china. china is our largest trading papartner ironicically are ratather paradoxicacally singapore is the largest foreign investor in china soo ifou'ret all thehese data points singapore does best whwhen the relationship b betwen america and c china iss good. strong and cononstructive then e play a role adddding valueue beg aa connectctor b being a [captioning made possible by democracy now!] amy: from new york, this is democracy now! >> it is so exciting and electrifying. it is so nice to say people saying black lives matter. years w we work of the ha

clearly singapore has been a hub for trade. trade is a big part of your economy.learly the consequences will be drastic. are you concerned that this might b be even worse than the pandemic? concerneded. very this is not just a a public heah disaster.. this has been the biggest economomic slowdown i think for all of us in our lifetime. so, , there is n no question tht this is a major disruption. wen in n the case of singapore estimate that ou economy will be affected to -4% t to -7%. this wilill be the worst recessn we have ever faced. if we look at terms of the government's response, in terms ofof the fiscal r response, we e put an extra 100 b billion singapore dollars to support our pepeople,o increasese the lev of health facilitieies, protecect , to keep cash flows for compapans going, to extend credit lines, and legigislative train -- changes. ththese are unprerecedentnted interventionons -- interventions but we believe that these aree essential because you need to keep your r workers anand enterprises viable, and reaeady for the time thahat the pandemic recede

singapore being such a heavy trade dependent economy, singapore alone is a key player, an important regionts and imports. while the supply chain links are the u.s.,d with asean, and china, remains a key player. we see that continuing going forward. asean, youpeaking of are expecting indonesia to have a contraction of 2.3% for the year. why the pessimism? >> we think that the growth recovery will only be gradual in indonesia. they only enforce a partial lockdown. severe compared to other peers. we think the gradual recovery path will be very slow. the of that is that we see inflection curve not down decisively yet. that will keep consumer and business confidence low. very contractionary inmate, which is of course our view -- is of course our view. haslinda: some kind of support, some kind of buffer for indonesia's manufacturing. >> some of the hardest hit services sectors, which we can expect our travel, trade ofated, they take above 20% growth value-added. wholesale, retail trade. the 21% is comparable to manufacturing share of total output. we think that these are likely to suffer a lot i

we are watching singapore and china.fast lane for essential and business travelers as they look to revive economic activity. this is bloomberg. ♪ haslinda: singapore and china are creating a fast lane to allow business and essential travel in an effort to revive economic activity. let's get more to our reporter juliette saly. tell us how this will work, and whether quarantine restrictions will be eased. tte: this will of i between singapore and provinces. the fast lane will start from the eighth of june, with travelers requiring permission from their countries. the current quarantine restrictions are tough and they will be eased, but there will be safeguards that remain in place. all travelers have to undergoing within 19 -- covid-19 -- 48 hours and show that negative result, then another test at arrival at their own cause. they must remain in isolation for one or two days until that test result is known, then speak -- then stick to their .re-declared itinerary any inbound travelers must also get a contact tracing app th

singapore's first premier.hat singaporeans should vote for change. future and for "our our children's future" and not for glories. the next nine days of campaigning really likely to be quite heated. itsruling tap highlighting ability to steer singapore through the virus while the opposition is focusing on some of these issues that hit right to the wallets of voters such as the retrenchment insurance. thene has -- he said election should not be about him or his family but about singapore's future at a critical juncture. yvonne: it is looking a little bit more like a family affair. this election coming as singapore is starting to open up the economy after the circuit breaker period. what sort of budgetary pressure is the government facing? juliette: singapore's economy has already registered the deepest quarter on quarter contraction in around 10 years. due to the circuit breaker, which saw virtually all but essential businesses shut down. now that we are seeing the economy open up somewhat, there is still a lot

has singapore been approached to be part of that club, and what is singapore's take? s.ing technology. there will be many aspects to 5g. use cases, for example, the standards that need to be established. this is something that needs to be worked on collaboratively across countries. regard, singapore stands ready to work with our partners. singapore'st is minister for communication and information, s. iswaran, talking to haslinda earlier on tonight. a quick look at the latest business headlines. india has approved facebook's $5.7 billion investment into gio platforms. it has triggered widespread interest in the company. don't forget jio is the arm of reliance industries. facebook's whatsapp has more than 400 million users in india. mukesh ambani selling more than 20%. pilots who fly for american airlines called on the was government to pay for enough seats to allow social distancing, as carriers look to ride out the virus pandemic. the average cost of the proposal would be shy of $2 billion a month for the 10 largest u.s. airlines. this is what we have at the moment. indi

singapore, let's hope it works is alli can say. do singapore, let's hope it works is all i can say.rly in terms of, we could be too early in terms of, we could potentially experience a resurgence or asjohn was saying a second wave of this virus? definitely in the uk. some of the things we are seeing, and of the economy has to keep on going but i've seen huge queues for nonessential shops and i know people are trying hard to social distance but you can see the hundreds and hundreds of people are starting to mix together again. it's only natural to have concerns about a potential second wave of this pandemic. certainly the focus when it comes to the japan times. the election campaign taking place there. this fear of a second wave of coronavirus. election shining a spotlight on two topics. those countermeasures to stop infections and also the olympics that had to be supposed ——

remember, singapore went from a virus hero to cautionary tale.erlooked pretty much 300,000 foreign workers living in dormitories, which eventually led to one of the strictest knock-down stuns the world, but having said that, when you take a look in terms of infection, it top 40,000, but when you look at the death rate, it was less than .5%, among the lowest in the world. when you look at economic response, singapore has been pretty steady, and implemented 4 stimulus packages, so it has reacted really quickly. paul: singapore has been governed by the same parties since independence. what sort of succession plans are in? haslinda: the mental fit to lead the country faces and a lot of challenges. front and center, he has a lot of experience. he is the current finance minister, so there's a sense that we are in good hands. more one will have singapore in the next hour of "daybreak asia." this is bloomberg. ♪ >> watching "daybreak: australia." new coronavirus cases are surging across the u.s. forcing local authorities to reconsider plans to reopen. in

singapore.gure out if ways it that they can link up with those other places and say, ok, maybe if you cannot travel everywhere you can travel between these countries that have similar measures of control. >> thank you so much. a look at a couple of business flash headlines. 10 weeks into -- the new t-mobile. wireless carrier is asking to rollback commitments it has made to win approval to buy sprint. asking for california for a waiver. t-mobile saying the current of fires -- coronavirus is making it impossible to make new hires. indonesians ride-hailing job is to cut 9% of its workforce. the company is grappling with the fallout from the pandemic. it will affect its nearer divisions. that go to festivals. they will shut down at the start of july. the direct rival, singapore-based grabbed announced it is cutting 5% of its workforce. >> we got plenty more coming up on the show including from the bloomberg invests summit. we will speak to the ceo's of goldman sachs. this is bloomberg. ♪ it is almos

singapore has been great together.school here and it's a place i'm very fond of and a big part of my life. when something like this occurred i felt, you big part of my life. when something like this occurred ifelt, you know if there's a chance to do something for people in singapore that need help i should take it. people have been very supportive, a lot of people have given me tips to contribute to the charity. that makes a massive difference and makes me feel a lot better and more worthwhile that what i'm doing is actually making a difference. do you go. enjoy your dinner. have a nice night. you - it is not nice night. you know, it is not easy. you get six or $7 a delivery. it could be hot, sunny, wet, it is a toughjob. a it could be hot, sunny, wet, it is a tough job. a lot it could be hot, sunny, wet, it is a toughjob. a lot of it could be hot, sunny, wet, it is a tough job. a lot of people do that tough job. a lot of people do that to feed themselves and their families, so i have the utmost respect to those guys b

the contactxt, tracing charge for singapore.is bloomberg. ♪ >> i do not think anybody can be confident with the kind of uncertainties that prevail. what lincoln say that i would put my -- what one can say -- [indiscernible] greater odds on a v-shaped recovery. >> how we are going to share the burden in a still credible way. >> it is not just financial and fiscal support. it is regulatory charges we have undertaken to support the economy. leaders sharing their thoughts on the path to recovery at the bloomberg invest summit. 10gapore will vote on july as the government seeks a new mandate that has pummeled the city state economy. let's get over to haslinda. theinda: singapore will be third country to host an election amid the pandemic. mongolia holding its election today. it is widely expected. we heard from the prime minister just yesterday that he is seething the virus the ability to hold an election. take a listen. >> the alternative is to wait out the covid-19 pandemic. but we have no assurance the pandemic will be over before

bloomberg has learned the singapore casino is being probed by the u.s. for a potential breach of laundering operations. and have theyw responded? >> bloomberg has seen a copy of the grand jury that was issued from the u.s. department of justice. it seeks documents on money laundering facilitation and other documents relating to abusive internal financial control. prosecutors are said to have asked the former compliance head who is a person with deep knowledge of how the casino is run to produce any records related to these violations. the subpoena has also requested information from another former employee who is said to have carried out fund transfers to highrollers. the inquiry is said to be in its early stages. according to our sources, the inquiry is seeking to establish if there is been any retaliation against whistleblowers. responseo did issue a to bloomberg saying any suggestion of inappropriate activity is being taken seriously and they are investigating any assertion of wrongdoing. vegassino is owned by las sands. shares fell by 5%. this report

in singapore. asc i up by 1.2%.march and is looking to pass its 100 day moving average. compared to the rest of southeast asia, it is an underperforming. the benchmark up 40%. singapore bracing for tougher days ahead. we heard from the prime minister cautioning about rising unemployment. he said singapore's future won't look like the one before the virus. sounds a tad ominous for my liking. rishaad: absolutely. moving on to what's going on with the first word headlines, looking at china's trade numbers. they had a jump in medical exports that helped out. shipments fell less than expected, although imports did decline. exports fell 3.3% from a year ago, while imports slumped almost 17%. $63 billion helped by the falling price of commodities that china needs. with --s simmering spat china issuing a travel warning saying discrimination against asian people is on the rise. the ministry of culture warning chinese travelers to be on the alert and not go to west leah -- not go to australia. it follows a call for an investi

singapore holding an election on july 10. ♪ -- bloomberg. ♪ francine: president trump insist that the phase one trade agreement with china is still intact. peter navarro says the comments were taken out of context after saying to adjudge the deal is over. will announce that the two meter rule could become the one meter rule today. and new global coronavirus cases reaches a record in latin and the texas governor says contagion is accelerating at an unacceptable rate. good morning. this is bloomberg: surveillance. the markets have really moved on the back of these china comments from peter navarro. and there's confusion about whether the trade deal is and a lot of the data points in france and europe points to better than recovery. tom: there a

senior economy reporter michelle jamrisko in singapore.ent offering financial support to cap a specific -- cathay pacific. saying it ist willing to provide financial support to the airline. jyz.xt, a big win for long probe means for the internet giant. this is bloomberg. ♪ this is bloomberg. ♪ haslinda: a court in seoul rejected demands for the arrest of samsung heir jay y. lee, saying there is new evidence. he is accused of bribery and corruption in a merger. executive editor peter joins us. talk us through the latest implications. peter: sure, it is a complicated legal case against samsung's jay y. lee. as hean five years ago, was trying to succeed his father in leading the company. there are two separate investigations. the first involved alleged bribery and corruption, where ofsung and lee were accused giving gifts to the confidant of the president at the time, to help smooth his succession to take over the company. the hearing today about his arrest is in a related case where prosecutors allege the accounting at one of the samsung's s

singapore did seea get back to the norm.age sector, at least most of the restaurants that we spoke to, most of them surveyed at least in one survey saw staff being cut as well as reve nu es staff being cut as well as revenues falling. did you have that kind of impact?i revenues falling. did you have that kind of impact? i think everyone is impacted. and for us, when the circuit breaker was announced, we knew that we would be impacted greatly, because 90% of our customer base our office crowds, and since they are working from home, we have lost them. so thatis home, we have lost them. so that is an impact we immediately saw in the first week but we managed to adapt to that. and what did you do to try to make sure you got out of this situation and going forward ? this situation and going forward? what we did, the date was announced about the circuit breaker, we had a meeting, we didn't want to impact any of our staff that we kept everyone and we adapted to the new norm, so what we did was we introduced a mobile app and we we n

for example, singapore airlines.uch more straightforward construction backed by -- caatthay, it was a much more complete structure. also negotiations were brought to the table with shareholders such as schreier and air china. also new ones like the hong kong -- -- 6% in the company. lots of back-and-forth negotiations over the past three months or so has culminated in -- the rescue plan. was there any change in the way that they perceived cathay to do business in the future? this is an airline which does not have any domestic routes, given the size similar to singapore airlines. i think the bailout was a sort this to someto extent. is there a possibility the airline will be changing how they do business in the future? manuel: they will have to look into cost-cutting measures. way to run the airline. truth be said, no one really of these crises. traffic will recover in the nextsix months or in the 1, 2, or even more years, back to levels we have seen pro covid-19. it is hard to project whether the $5 billion bailout w

singapore's hawker heritages in the running to be recognised by unesco later this year.e doing what they can to stay afloat in uncertain times. the number of people waiting for nhs treatment will double to 10 million by the end of the year, according to a report published this morning. the nhs confederation, which represents hospitals and ambulance trusts in england, says the challenges include the backlog of cases, maintaining social distancing, and staffing. zoos, safari parks and drive—in cinemas are set to be included in the next wave of coronavirus restrictions being eased in england. boris johnson is due to announce that they will be able to welcome back visitors from monday 15june, which is when non—essential shops will be allowed to reopen in england. there have been further moves to take down statues honouring historic figures involved in slavery and colonialism. a local council in london's docklands has removed a statue of the 18th—century slave trader robert milligan. at oxford university, hundreds protested, demanding a statue of cecil rhodes be taken down. t

shery: tell us a little bit about singapore's plans to singapore in -- to supercharge innovation.f more than $14 billion at this point. michelle: yeah. the two words i keep hearing and we have heard since the start of this is "emergent stronger," that has been there #in terms of the government's message in moving the economy forward. we got the last of the ministerial speeches on friday and yes, they are going to invest more. $20 billion toward research and typeopment in generation industries, health and biomedical, climate change, ai, in a five-year plan. they're deftly going forward with the message and they put a lot of money ford but they are -- money forward but they are doing even more. this is why they are the most competitive nation in the world to judge by recent polls. our reporter with the latest. next, what the future holds for hong kong after beijing confirmed it will have the power to override the city's independent legal system. this is bloomberg. ♪ you doing okay? yeah. this moving thing never gets any easier. well, xfinity makes moving super easy. i can transfer m

as being a bit of a model but singapore isn't entirely replicable because it doesn't only rely on it's out firstly it's is very privacy invasive and it's not in a way that in many other countries might even find it unlawful secondly it's built on top of an existing infrastructure that doesn't exist in a lot of a con other countries in fact the apps there draw on a wealth of public health data not the other way round so the biggest success story in singapore is actually the testing system the free public health testing system that's really been what's been seen in singapore the biggest success factor so there's a view that although these outs might help us find some cases that they could actually lower us into a false sense of security and be more of a technological placebo than an outright cure get the reporter jill dougherty thank you very much. to sports now and in german football byron munich can wrap up an 8th straight bundestag a title when they visit that agreement tonight baron have won the last 10 league games and are 7 points ahead of 2nd place for dortmund with just 3 games t

next, singapore is set to ease more virus restrictions. is planning to prevent another wave of infections. this is bloomberg. ♪ this is bloomberg. ♪ asia pacific now rising for the first time in four days. let's turn to sophie for an update. sophie: we are seeing the risk-on move take hold and asia across the board led higher by the kospi which is gaining most ground since april 6 this morning. after a three-day decline for south korean markets. gaining ground back above 22,000, set for the biggest jump in two months. in australia, we are seeing gains of about 3%. climbing back some losses that brought it to a three week low on monday. green across the screen. steepening in the bond space. tech on the move in that corner of the market. aussie 10-year yield up about six basis points. you see a 10 year treasury losing ground with the benchmark rate up about three basis points this morning. weaker ahead of the boj decision. the korean yuan leading the advance, earlier getting as much as 1% against the greenback, while the aussie dollar is lea

our guest joins us that singapore.to this upcoming battle when it comes to this long-running rivalry between the two exchanges. background,of the sinceore has been trading 2006. it is the only overseas platform that investors can trade chinese features. hong kong is trying to come up with a similar product. still pending approval. shery: how was the singapore exchange planning to make up for venue with a slowdown in listings? >> what the deal has done is effectively move the msci index franchise to 37 futures options contract read -- contract. the exchange will focus on more proprietary products, such as single stock futures. launched single stock futures on singapore equities earlier this month, for example. there will likely be more agreements with other index providers. choice. like a natural plans in place to make up for the lost revenue? right now, they have not come on the record to tell us what a but the reason they acquired scientific data, for develop is so they can products. now, there's not much from the exc

roger lee will be joining us next out of singapore.omberg. ♪ save hundreds on your wireless bill without even leaving your house. just keep your phone and switch to xfinity mobile. you can get it by ordering a free sim card online. once you activate, you'll only have to pay for the data you need- starting at just $15 a month. there are no term contracts, no activation fees, and no credit check on the first two lines. get a $50 prepaid card when you switch. it's the most reliable wireless network. and it could save you hundreds. xfinity mobile. david: this is daybreak asia. bannings in hong kong the anniversary in tiananmen square. adhering to the social distancing measures. it paled in comparison to other vigils. police banned the gathering for the first time in three decades. the people's bank of china is bound stability amidst rising tensions. hong kong asupport a global financial center and recognize them as a custom territory separate from the chinese mainland. china imposed sweeping new security laws. costing india tens of thousan

in singapore.ve is pledging to maintain its current pace of asset purchases as these interest rates near zero to at least 2022. chairman jay powell is also committing to using all the banks tools to helping u.s. economies recover. the fomc said it would increase its holdings to treasury and mortgage-backed securities to move functioning in the markets. failure --ys the governments around the globe must institute wide range reforms. do the emergency spending too soon, advising more stimulus may be needed to boost income and cut unemployment. , wants taxes regulation and competition. tokyo says it will simplify next year's delayed olympic games to take the effects of the virus into account. organizers say they and the ioc have agreed to make the event even simpler. than 200 subjects of been identified as potential candidates for a more straightforward gain. they declined to say how much would be saved in such a move, if any. the governor of tokyo says she is hoping to list the coronavirus alert from

in beijing, shanghai and singapore. gains after u.s. payrolls smash expectations and bolster hope this swift rebound. $20 trillion added since the bottom in march. oil rises as opec and allies agreed further output curbs. the new deal is lasting a

the singapore sti is up.izing a five-year rnd plan to turbocharge innovation -- r&d pl to turbocharge innovationan -- plan to turbocharge innovation. we're awaiting perhaps an announcement in the next few days, perhaps even later today, for when the election will be held. rish? rishaad: let's check in with currencies. have a look at what's happening with the dollar index. pretty much unchanged. this is a broad picture of a word. the hong kong dollar is right up against the strongest part of its bound. we just have the open in thailand, and a huge drop for some of the banks. on friday, the commercial banks should be prepared for a capital management plan for the next one year to three years due to risk from the global pandemic. they should avoid paying dividends and avoid share buybacks. dragging the stock exchange of thailand down by 0.6%. that's where we are with those -- dragging down the market. moving to what's happening in new york. taking a look at the first word news is karina mitchell. karina: coronav

singapore led the way in creating an app that can monitor the spread of the virus without government surveillance the country's app traced together uses encrypted anonymize data to alert those who have come in contact with infected people australia has launched its own app based on the trace together protocol. in europe france italy and germany launched coronavirus tracing apps this month prioritizing privacy the italian and german apps use a decentralized approach they don't store users' information on a server but rather on the user's phones the french stop covert app however is centralized it does store data on government run servers but says the data is deleted after 14 days the u.k. is preparing to launch an app similar to the french model later this month. the european commission has called for a common tracing technology across the e.u. but so far member countries have been going it alone. let's take a closer look at france now released at the beginning of this month and as mentioned in that report it relies on centralised data storage and that is giving pause to some potentia

in singapore. i am haslinda amin.food markets and restrictions, and blocking potential virus carriers from leaving. threatensnorth korea a liaison office. rishaad: top-flight sport emerging from the virus locked down there is one thing missing, the fans. how sports can be safer for all involved. haslinda: a check on the markets. the asian market is stalling right now, investors weighing recent value and risk assets and economic optimism versus the resurgence in the outbreak. u.s., the session in the the s&p ended up higher more than 1%. and a ci asia-pacific index down -- and a ci asia-pacific index is down. north korea moving troops to areas near the border to send a strong signal. --southorea says it is korea says it will pay if they take military action. beijing shutting down all schools amid a second wave of the virus. the hang seng is flat at this point. are in termsre we of the southeast asian markets. emerging markets have been lagging. at the valuations, they close to 10 year average. stocks under a lot of pre

in singapore. we are in the middle of the trading day. it is a big day for singapore.ging from , mostckdown after 74 days of the economy will be back on track. singapore seeing its worst recession since 1965, that is independence year. let's get the first word headlines. secretary of state mike pompeo says this week's talks with china in hawaii brought a commitment from beijing to honor all parts of the phase one trade deal. said one member said all parts of the agreement will be oil --ed following falling oil price and the coronavirus disruption. japan's key inflation gauge continues to fall, coronavirus activity and economic stoke fears of deflation. falling .2% from a year earlier. economists had expected a slightly smaller fall. removed a post shared by president trump saying what it called the company's policy on organize hate. --add which referred to included an image of an upside down red triangle that was used s in concentration camps during world war ii. improvementsual since worst of the pandemic even as states continue to reopen. initial claims for the week

formula one has announced that races in azerbaijan singapore and japan have been canceled because of the coronavirus and demick teams are testing at the season is yet to start an 8 race calendar in europe beginning with the austrian grand prix on july 5th has already been agreed officials still hope to hold further races outside europe with the season set to end december as are by john and singapore post particular problems because they are street circuits circuits while travel restrictions have ruled out japan. the bonus legal was back in action on friday night lights went to hoffenheim looking for a win the cement their hold on 3rd place and a trip to the champions league next season and the host seemed more than happy to oblige with a 2 nil there. he would not go on making a return to hoffenheim the place where he made his debut as the league's youngest head coach. marcel rupp took over as hoffenheim caretaker coach only this past tuesday after the club fired alfred screwy. but he didn't have an easy task ahead of him figure are known for their fire power and made it one you know

has relied only on it's out it's also relied on a massive testing program and also in the case of singapore it's a very sick privacy invasive system that may be unlawful in some other countries so there's a view that while these apps may make us feel a little bit safer they may be actually giving us a false sense of security and this may be more of a technological placebo than a real cure. is joel dollar a reporting for us thank you very much. to some us ports news now new york governor andrew cuomo has announced that the us open will be held and made at the coronavirus pandemic the u.s. tennis association intends to hold the tournament in august without fans being present that's despite top players having expressed their concerns about participating due to spread the virus cuomo said the u.s. tennis association will take extraordinary precautions to protect players and staff including testing additional cleaning and extra locker room space. and football byron munich can wrap up in 8 straight bonus they get title when they visit better braman tonight biron have won their last 10 league game

in singapore. negative territory here.allow several tourist attractions including the two casinos here to start operations as of july 1. that is part of the resumption , this is at the second of a three-phase opening. this is all leading up to a big day. the sti is down 9/10 of 1%. let's get first word headlines with karina mitchell in new york. >> we start with pandemic numbers, global coronavirus cases have broken through 10 million with death surpassing 500,000. authorities continuing to one against reopening too quickly. u.s. infections are 2.5 million with president trump's health chief saying that the window is rapidly closing. theypence told cbs that are well-placed. reports from europe suggested the eu is to ban u.s. travelers from entering. denotes 15n countries that can't enter. chinese travelers will only be allowed to enter the eu if european citizens are welcome on the mainland in return. industrial profits rebounded for the first time since this november. say going that the economy is finally recovering from

singapore has been very genetic. singapore is referred to as the switzerland of asia.very serious focus on their economy. they do. it is very well developed. they are one of the most conservative, health care centric of the governments in asia. they are most cautious with their populace health. that's why people trust the government. that is why they are supportive. they see those trade-offs being made. there's an alignment with social policy, people executing. populations are smaller. there's borders. if you look at the u.s., intrastate travel and the individual policies were completely unaligned. new yorkers weren't welcome in florida. license plates from new york were a scarlet little -- letter. those policies are addressed in a more national level in asia. i think there's a cultural illnesses thatf is more developed from having dealt with other challenges. coming up next, tensions rising on the korean peninsula. the north threatens to deploy troops to the dmz. we will have the latest. this is bloomberg. ♪ ♪ sophie: north korea says it is planning to send troops to

justin tang joining us from singapore.dia's capital faces an overwhelming virus outbreak as lockdowns is. .- lockdowns ease this is bloomberg. ♪ >> the world health organization is walking that comments made monday it is very rare for people who have the virus who show no symptoms to pass it on. bloomberg spoke to johns hopkins nurse manager about so-called silent spreaders. >> i actually read the press o and i doom the wh think that, not having or having that thedity asymptomatic population does not transmit the disease is very important to the reopening process. >> what do we still not understand. we have had various reports, it is difficult. if you're just a citizen trying to figure out what you need to do. how this virus involved. who should we listen to? we were told not to wear masks and then wear masks. what are you certain about that we need to do to make sure we are safe? francine, i talk about a few simple things and one of them is wearing a mask. social distancing. and sanitizing. we at johns hopkins are startin

countries like singapore, france, have had one meter.ons with officials and people in those countries, there doesn't seem to be any sense in which they have been mistaken decisions. and as time has gone by there seems to be no pressure to increase those distances. i think we need to understand their experience. we also need to go beyond the initial very broadbrush rules. two metres, anytime, anyplace anywhere. and consider some of the contacts. is it required to be the same if you're outdoors, for example. as compared to indoors. if you're wearing a face covering doesn't need to be the same? of these are crucial questions because it does have a big impact on people going to work. and we should have that information. it's disappointing that we don't have it to inform decisions that should be being made now. very good to talk to you. thank you so much for your time. that is pretty much it from me let's get a look at the latest weather forecast now. good let's get a look at the latest weatherforecast now. good evening. we got a spell of fai

seoul trading, singapore and malaysia as well. the peter navarro episode, if it is any indication how sensitive markets are to the slightest hint of bad news, that tells you the story of volatility in store for markets in the second half of the year. a quick check on the risk radar. aussie yen coming off a little bit, that tells you where we are in terms of risk appetite. we were closing in on 79 a few weeks ago. brent crude, some upside. let's get you up to speed with other top stories we are watching. it lawmakers in washington have approved a bill to penalize banks doing business with china over beijing's national security legislation for hong kong. the bipartisan measure in the senate has support in the house of representatives and needs to pass before reaching president trump. it condemns china for breaking obligations under the deal that return hong kong to mainland rule. the coronavirus has hit local trade hard with lockdowns increasing by 12%. the hike of that pandemic in april, new research that 16%.ents have fallen by th

in beijing, shanghai and singapore. am tom mackenzie.fire for his washington church photo op. critics and religious leaders say clearing protesters by force was an abuse of power. asia-pacific stocks extend the global rallies as investors bet on a quick recovery. u.s. futures

>> a quick question, if you on perhapsrate also singapore and hong kong, regarding what you are comes tog when it western powers trying to recall and eyes these territories, -- i am justanese interested to see where singapore and hong kong play a role in the greater scheme of things. mentioned them both before, but not the good way. japanese after the surprise , douglas pearl harbor macarthur basically had his day arning to prepare before the japanese moved against the philippines in hong kong and singapore. they left the bombers on the ground, and the japanese are swept right through there. macarthur would never let the oss into his operational area. that is why they can only , indochina,hailand burma, and china. the areas of singapore and hong were relatively small, , and it didn'tts really play a big geopolitical role. i'm not a fan of either dollars ormcarthur -- dulles mcarthur, by the way. sorry. anything else? ma'am? so my memory is kind of vague, but if i remember correctly, after japan was occupied, i think there was an organization by the name of cic that was responsible for

by the time we left singapore, he was at 2,000. that's what he was focused on.hat he had had this enormous photo opportunity, the first time an american president has met with the leader of north korea. >> john bolton saw the bargaining firsthand. behind closed doors, in the photo, he is there, in the room where it happened. take us inside that room. the press mob, as you call them, comes in. as soon as they leave, you say, the flattery began with kim jong-un. >> right. well, everybody president has a style. but the idea that just this oleaginous layer of compliments to this brutal dictator would convince him that you could make a deal with donald trump, i thought, was both strikingly naive and dangerous. he told kim jong-un we would give up what he called the war games on the korean peninsula. the president didn't seem to understand that the war games, as he called them, were critical to american and south korean ability to be ready to withstand pressure from north korea. and to pull down these engagements, these exercises, because they displeased kim jong-un,

in aging, andapore -- in beijing singapore.s after wall street pulled back on concern the old -- concern the global rally overshot reality. charger underard fire over support for the chinese security law for hong kong. investors

in singapore and hong kong. welcome to bloomberg markets: asia.federal reserve lifting mark ritz with the corporate bond service while the bank of japan commits to unlimited liquidity in what it calls the severe economic situation. haslinda: global coronavirus cases past 8 million with sections arriving in america and beijing. news -- jaguar land rover sees sales picking up in china. it is broad-based rally here in asia. all of the benchmarks are ups digesting there is more upside from here. getting a lift from the fed. and we have the bank of japan also boosting sentiment. the msci asia-pacific index going up i almost 2.9%. 300 up by 1% as well. beijing announcing more areas for a lock down. the hang seng up 3%. adding to those gains as well, the kospi rising almost 5%. rising from the get-go. after four point -- after 4.8% yesterday. the economy was set to shrink the most since independence back in 1965. 0.7%.r index up the government says it will keep its capital under loose restrictions allowing businesses to continue to operate even as the vi

so the areas of singapore and hong kong was sort of off limits to the oss. you know, they were relatively small colonial outposts and it didn't -- it didn't really play a big geopolitical role. i'm not a fan of either dulles or mcarthur, by the way. sorry. anything else? ma'am? >> so my memory is kind of vague, but if i remember correctly after japan was occupied i think there was an organization by the name of cic that was responsible for intelligence in japan and later on it was absorbed to cia. so is this mostly military personnel who were responsible for intelligence in japan after the war? >> after the oss was abolished, september of 1945, there was still a very large military intelligence and naval intelligence. these dated back to the 1880s. the oss pretty much focused on strategic intelligence with their analysts, people like sherman kent, william langer and they concentrated on preparing the battle space before the invasion of normandy, things like that. but the army counterintelligence corps was the one that was part of the big army, big green mach

some are voluntary, like in australia, germany and singapore.do this, there are major challenges. 0ne one of the reasons is personal data. phones are being used to monitor proximity to other people and location. the data is not always anonymous. china and south korea monitor the location of people with the virus and their payment history. they don't ask permission. both have largely tracked the virus effectively. in south korea at least, there's awareness this approach is unusual. scary is the word for many people, unacceptably scary, whatever the hope well, it's suspended at that. norway has suspended its app. germany has been mindful of its concerns. it doesn't log a location, but there is an acknowledged tension here between protecting people's privacy and how well the virus is tracked. there's also the challenge of getting people to sign up. the more people, the more effective the system. if you're a democracy, getting most people to take part is hard. singapore wanted three quarters of the people to have it out and got a third and not all a

singapore's best known restaurants. restau ra nts gatherings but like all restaurants here in the last two months, there has been no dining in and business has taken a hit. it is shutting down permanently at the end of june. the first month it went down, it went down a lot faster and then it fell off a cliff. we were down 82% in april. 82%! amen, how do you even... resolve, or think about that? as countries start to reopen, the challenge will be getting people back into the empty department stores and restau ra nts a nd department stores and restaurants and something simply won't come back. companies that went bust, jobs that were lost, multiply this millions of times across asia, where small businesses are the lifeblood of these economies. by lifeblood of these economies. by some estimates, some asian economies have permanently lost more than 6% of their annual growth just from lockdowns. that's around $1 trillion. government have also tried to help but it is not always going to where it is most needed. a lot of it is