so impressive set of numbers from sk hynix. we are going to have more analysis on those earnings and also the broader outlook for chips a little bit later on with market research firm counterpoint. first, tiktok, the clock is ticking to fight the u.s. invest or ban bill. details on the 270 day countdown coming up next. this is bloomberg. ♪ when you automate sales tax with avalara, you don't have to worry about things like changing tax rates, exemption certificates or filing returns. avalarahhh ahhh ahhh ahhh paul: we have been hearing from sk hynix this morning with first quarter results containing prettied impressive headline numbers. with some more analysis, let's get over to avril hong in our singapore studio. avril: yeah, impressive i think is the right word to use here. we saw that beat on sales and profit and this is coming against the backdrop of their concern about just whether this chipmaking demand is coming back. as we heard from tsmc for example last week that their guidance really disappointed and caused a rout in

the big name that moved today was sk hynix.ea's second most valuable company really reporting blowout first-quarter numbers. net profits coming in at 2 trillion korean won. that turns around a big net loss for the same quarter the previous year. the company saying the results due to their high-bandwidth memory. other advanced chips for ai data servers as well. let's look at boeing suppliers as well. boeing, as we were just discussing, seeing its credit rating downgraded to one notch above junk by moody's. cash burn the issue, although boeing suggesting that burn will slow down next quarter. boeing suppliers having a bit of a rough ride in the early going in asia. markets coverage continues as we look ahead to the start of trade in hong kong, shanghai shenzhen. ♪ of bright ideas, that your customers need to know about. constant contact makes it easy. with everything from managing your social posts, and events, to email and sms marketing. constant contact delivers all the tools you need to help your business grow. get started tod

sk hynix losing some ground, off by .25%. tesla suppliers as well, of course we had the story of elon musk making a flying visit to china. well, that paid off. tesla has approval from government officials to deploy driver assistance in what is the world's now biggest auto market. partnering with baidu on mapping. still questions about how it will handle data security and privacy but we saw tesla shares soaring 15% monday and baidu also closing higher. in australia we have mover for you as well. bhp shares currently gaining by three quarters of 1%. we saw them lose a little bit of ground yesterday off the back of that rejection by anglo american for a $39 billion all stock bid. bhp shares sold off a little monday but recovering pretty strongly at the moment. haidi: let's look at the yen. look, this is the picture as we see quite a bit of sustained weakness. flat at the moment at the 156 level. as we were talking about earlier this comes before these expectations potentially come to fruition off that hawkish pivot from jay powe

outpacing the gains in sk hynix. this is something we haven't seen in the past year.s you know, sk hynix as well as nvidia, they have been benefiting from pure play in ai. sk hynix has an advantage even though it's a smaller rival because of its high memory. that is something that powers the ai nvidia accelerators. it will ramp up supply off high-bandwidth memory. interesting to see how this david and goliath battle shapes up. haslinda: ai hype may be waiting from taiwan stocks. avril hong, thank you so much. investing directly crypto head debuted in hong kong today. local units of china asset management and partnership between brochure asset management, each listing bitcoin and either etf's. it's potential competition for u.s. bitcoin products, whose popularity's stop a rebound rally this year in the digital currency. let's get back to the hong kong exchange web. annabelle droulers is with our next guest. annabelle: this is the ceo joining us this morning. let's just understand the structure of the partnership because you are issuing it in collaboration or partnershi

sk hynix of more than 4.25% right now, it will invest in a played in indiana in the united states. it will do research and of element on ai chips and that is having a halo effect on chip stocks around asia, at the moment helping indices move higher, as well as the fact that chip plants are coming back online in taiwan after yesterday's tragic earthquake. the kospi up 1% but if we flip up the board, a little more volatility in currencies. begin today still trading around 151.70, not in the danger zone, thanks to lee for the dollar which had been strengthening day after day and finally saw weakening today. the yuan, the renminbi, is one to keep an eye on because we were very close to the weakest part of the trading band once again today. it shows that pboc policymakers are very close to more intervention if that bypasses that. the offshore yuan, of course, has been flirting with that level several days. the onshore yuan now as well. i wanted to point out copper, because you mentioned oil being on a tear. we are seeing it across the commodity complex. copper up another 0.8%. partially

we also got earnings out of south korean chip giant sk hynix this morning.memory chip—maker saw its highest profit growth in almost two years of $2.1 billion. the artificial intelligence boom helping the company reverse heavy losses incurred last year. us plane—maker boeing reported its first revenue drop in almost two years. its manufacturing quality has come under scrutiny after a series of accidents involving its max 737 model. let's bring in aerospace consultant mark martin. i asked him what he made of boeing's results and his outlook for the playmaker. building commercial aeroplanes, the revenue is driving the entire performance of boeing down. revenues are down by 1.6 billion. what's alarming is that deliveries on the boeing 737 max is also down from 160 down to 83. the bigger concern of the moment is not deliveries per se, but airlines that are opting out of the max 10, we have seen in the past united airlines talking about it cancelling its max 10 order. clearly all of this boils down to safety issues and quality violations that have occurred over at

well, speaking of diversifying semi—conductor production, the world's second largest chip—maker, sk hynixl invest nearly $4 billion in a facility in the us state of indiana. the new plant will include an advanced production line to manufacture the next generation of chips, which will be used to train artificial intelligence models. the us has been seeking to boost its chip self—sufficiency. us treasury secretary janet yellen is due to arrive in china on thursday, her second visit to the country in just nine months. yellen is scheduled to meet top chinese officials, including premier li qiang, as well as representatives of us companies operating in china. the us treasury department says her discussions with chinese officials will highlight what washington describes as "unfair trade practices". the trip comes after president biden spoke with president xi in a phone call earlier this week. frank lavin is a former us trade negotiator and he says there are signs of stabilisation in relations between the us and china. well, i think there's a little bit of stability in the relationship over the

we do have sk hynix recovering a lot of the ground that it lost on thursday after its results. bit of profit taking play. sk hynix rebounding pretty sharply. it is now off 1.3% from yesterday's open but up about 4% today. i want to talk a little by -- about bhp which is slipping at the moment. i believe bhp it has done the most in seven months, trading volume as well. this is a story we brought to you yesterday during a public holiday here in australia, bhp reportedly making a bid for anglo american, worth $59.6 billion. it is an all stock bid. this suggests the days of big dealmaking might be back on the table for the chief executive mike henry and he is particularly interested in copper. bhp off about 4.3% after 15 minutes of trade in australia. watching the yen very closely. more from the ministry of finance today but still no action. we will have more on the outlook for the yen ahead of that decision and we will hear why standard chartered bank is expecting upside for the currency. u.s. secretary of state antony blinken wrapping up his china visit as beijing rebuffs his cri

this is despite sk hynix really knocking things out of the park saying that it expects a full recovery, given the expanding demand for ai chips. that meta outlook really casting a shadow on stocks today. haslinda: thank you so much for that. good to have you with us. let's pick up where april left off. when you take a look at the movements in tech, what is really driving the tech space? >> good morning. one thing we really have to recognize is that with the technology sector, companies periodically go through investment cycles where effectively the impact is that margins come under pressure, and that sometimes unnerves investors, but if the company is able to construct a narrative on why that investment is necessary and have visibility on what kind of revenue growth and a future revenue path that can deliver, you can assuage those concerns. i think the reaction we have seen overnight has been investors not quite confident enough around the storytelling and the narratives to i this significant investment upgrade guidance is necessary and what kind of benefits it will deliver and that wi

a busy earnings week in asia, led by sk hynix. the south korean company will probably beat consensus on operating profit thanks to a dominating market share in high-bandwidth memory chips. bank of japan has a policy decision in focus and it is expected to keep rates on hold after delivering the historic hike last month. bank of indonesia might deliver a hike wednesday to put a floor under the rupiah. we will be watching chinese commercial banks probably keep their loan prime rates unchanged following the pboc's hold this month. in the u.s., economists think gdp growth may have slowed in the first quarter. the feds inflation gauge sit -- stayed elevated. ahead of the release of u.s. data, fed officials including austan goolsbee saying monetary officials need more time before cutting rates because he believes progress has stalled on inflation. for tom barker the u.s. economy is not showing signs of running too hot. >> we are in a situation where demand is robust but i see no signs that it is overheating. overheating would lead to pr

china has its own way of doing things and create an samsung and sk hynix have their own original waysdoing things. we are not thinking of them in the same way. >> what is the one thing you think japan needs most when it comes to staying ahead in the world? >> believe the basis of a manufacturing company is to >> good morning are the stories that that your agenda. asian stocks stalled the week with gains while european futures trade broadly flat as traders stand by for wednesday's data on u.s. inflation. israel says it is pulling some troops from southern gaza. the oil rally takes a breather plus janet yellen meets the pboc governor on her last day in china. as she aims to put things with beijing on a firmer footing. a very good morning. walking to a new week and to explain what is happening in the markets, i will take you right back to friday. that blockbuster u.s. jobs report. markets interpreting it as good news is time. good news on the strong economy. even if the price is raised higher for longer. you have treasury stock futures pointing to a slightly higher opening but higher for

sk hynix higher by almost 4%. samsung up by about 1% as we speak.wan was hit by's largest -- earthquake in 25 years yesterday. initial inspection of the site showed things were normal but small tools were damage. iron ore coming down by 1.7%. copper is extending its gains and hitting a 14 month high with the man rising and supply getting squeezed. in terms of the s&p, currently up by 4%. ftse futures pointing to a higher open, up .6%. gold rose as much as 2230 initially. overall gains for (aidyl) hi, i'm aidyl, and i lost 90 pounds on golo. i struggled with weight loss and weight gain my entire life. with all the yo-yo dieting i did in the past, i would lose 20, 30, 50 pounds just to gain them over and over again. thanks to golo, i've been able to steadily go down the sizes in my closet and keep the weight off. for the first time in forever, i feel in control. (announcer) change your life at golo.com. that's golo.com. not all caitlin clarks are the same. caitlin clark. city planner. just like not all internet providers are the same. don't settle. yo

the world's second largest chip—maker, sk hynix, has announced it will invest nearly $4 billion in an advanced production line to manufacture the next—generation of chips, which will be used to train artificial intelligence models. the us has been seeking to boost its chip self—sufficiency. french drug giant sanofi has reached an agreement in principle to settle 4,000 us lawsuits linking the discontinued heartburn drug zantac to cancer. sanofi did not disclose the financial terms of the deal and did not admit any liability. it said it is settling to avoid the expense and ongoing distraction of the litigation. disney has won a boardroom battle against critics who had accused the media giant of botching its streaming strategy and losing its creative spark. activist investors, including nelson peltz of trian management, had sought seats on the company's board of directors, which they said was too close to disney's leadership. but a majority of shareholders voted to maintain the company's current board. still to come: countering addictive slot machines — we take a look at revamped bowlin

sk hynix down over 3%. tokyo electron probably the worst performer. tsmc scaling back its outlook. really the caution when it comes to the smartphone and pc markets remaining weak despite posting his first profit increase in a year and beating estimates in the second quarter sales guidance. that semi market growth expectation being cut. taking a look at some streaming names on the back of netflix, we saw some very robust numbers. 9.3 3 million customers, the best start of the year since 2020 for netflix, but also saying gaines will slow. shares following suit. annabelle: certainly a lot of weakness across the screen so far. still to come, we will talk about the world's biggest exercise in democracy getting underway, the indian election. it is the first of nearly one billion indian voters heading to the polls. we will have a live report later this hour. first, the imf managing director adds to voices urging china to address overcapacity issues. this is bloomberg. ♪ wealth-changing question -- are you keeping as much of your investment gains as possible? high taxes can erode returns

sk hynix is at 4.4%.sung having a good day as well on the heels of counterpoint saying apple sales fell 19%, making it the worst performance in the key market since 2020 and putting a local rival hot on its heels. mark garman joins us more. give us a sense of the context of how serious this is considering sales falls over lunar new year, one consumers like to spend? mark: they are going to come on their earnings call and say they have a tough compare given the lockdowns, creating pent up demand over the lunar holiday. anyway you slice it, this is not great when you consider apple declining 13% in the first quarter, right? and then saying the client in china has nothing to do with the iphone. last quarter had nothing to do with the iphone and this quarter is all about the iphone. so not a great look for the company. china's biggest and most criticalness it. but for wall street, i haven't seen apple doing much to counter declines. it's the same playbook in the u.s., not seeing enhanced promotions in the chi

sk hynix slumped 5% despite beating on its own profit expectations.today seeing a nice recovery showing how for asia's tech names are so closely tied to their u.s. counterparts. we talk about how you weakness is driving the rally in japanese equities, and for the nikkei this year it is responsible for about half of its performance, but something else to consider is if you were a foreign investor, then you look at this and your returns are seen it diminishing quite considerably. this varies depending on your base currency. i want to show you how the yen is not just weakening against the greenback. it is also weakening a lot against the aussie, the euro. we are brace for a bit more hawkishness, that this is tracking what we saw in u.s. treasuries overnight. tom: avril hong, thank you very much indeed. we will stay on the japan story and the details around this decision around the bank of japan, bloomberg economic saying this was a dovish hold. paul waul is standing by and tokyo. what are you looking ahead to when it comes to the presser? >> it was a sho

. >>> and sk hynix is planning to spend billions in indiana for a plant.it expects the facility to create up to 800 jobs by the end of 2030. >>> here is what to watch for today. initial jobless claims and data before the opening bell and earnings from conagra. we also have a busy day of fed speak with half a dozen go governors speaking today. a long list thank you see there. >>> let's get another check of the u.s. equities futures. you see the dow jones industrial average implied higher by 135. s&p up 19. for more on the trading day head, let's bring in courtney garcia for payne capital management. courtney, this market has some folks skittish. can the gains continue in the coming months? >> we're optimistic the markets can continue higher. we are getting strong economic data. manufacturing numbers are remaining strong. the inflation is still moderating over the long run. that is why the markets will continue to do well here. there is a lot of cash on the sidelines. they are finally starting to see people dip into the cash. there's a lot of money that can

. >> this focus on the high-bandwidth memory chips has been in competition with sk hynix, samsung inlps get samsung ahead? peter: yes, that's exactly right. you are going pretty deep into the technology. in-memory chips, samsung has been the leader historically but hynek's got a bit of an advantage to provide computing power for ai applications in particular. samsung has been a bit behind hynix, trying to play catch-up, both in the south korean production facilities and now also in the u.s. with this advanced packaging, they hope to gain some ground on hynix and makeup lost ground. everybody wants to work with nvidia these days, it's the most valuable chip company other, with their gpu's, there is almost unlimited demand for them to train these air services like chatgpt and a bunch of other ones and it looks like samsung is pushing hard to gain some ground there. >> executive editor frazier technology peter elstrom there. more to come here on "bloomberg daybreak asia" this is bloomberg. ♪ haidi: take a look at u.s. treasuries. we are seeing a bit of a rebound among the regional bond

sk hynix down 1.8% though. cowell holdings currently on the opposite direction, up 1.8%.re keeping an eye on rusal and other miners on the back of lme banning russia. that accounts for 5% of aluminum and 4% of copper. rusal down two.6 percent. chalco currently flat. and catl currently up 3.6%, jumping the most in two weeks ahead of its first-quarter earnings. in the broader market, trepidation, nerves as we saw the attack from iran on israel over the weekend. only china is in the positive. the csi 300 index has been lackluster but today up 1.9% on the back of authority saying it will do more to support. and of course scrutinize the markets right now. keep it here with us. this is bloomberg. ♪ her uncle's unhappy. i'm sensing an underlying issue. it's t-mobile. it started when we tried to get him under a new plan. but they they unexpectedly unraveled their “price lock” guarantee. which has made him, a bit... unruly. you called yourself the “un-carrier”. you sing about “price lock” on those commercials. “the price lock, the price lock...” so, if you could change the price,

sk hynix among the asian semiconductor stocks that will be in focus. resiliency of that last close. tsmc scaling back its outlook for a chip market expansion so that could weigh on some names. sony and apollo talking about a joint bid for paramount. we will be watching for some entertainment and streaming stocks. netflix with the best start to the year since 2020. a muted outlook change when it comes to reporting, investors were not that impressed. this is bloomberg. ♪ ♪ ♪ ♪ ♪ ♪ give into the rhythm of the islands and delight in a caribbean state of mind. visit sandals.com or call 1-800 sandals. annabelle: we are counting down to asia's major market opens. there is quite a lot to be pouring cold water on asian equities in the session today, especially when you take a look at some of the hawkish fed speak that has been coming through. haidi: yep. a mixed picture when it comes to earnings. mixed even when the numbers are strong. netflix, you see how high investor expectations are. it will be interesting to see how that plays through some entertainment re

sk hynix, tokyo electron also read.e we are in terms of energy stocks as well on the back of oil surging past $90 a barrel. those stocks currently trading higher. plenty more ahead. keep it here with us. this is bloomberg. ♪ her uncle's unhappy. i'm sensing an underlying issue. it's t-mobile. it started when we tried to get him under a new plan. but they they unexpectedly unraveled their “price lock” guarantee. which has made him, a bit... unruly. you called yourself the “un-carrier”. you sing about “price lock” on those commercials. “the price lock, the price lock...” so, if you could change the price, change the name! it's not a lock, i know a lock. so how can we undo the damage? we could all unsubscribe and switch to xfinity. their connection is unreal. and we could all un-experience this whole session. okay, that's uncalled for. hi, i'm jason and i've lost 202 pounds on golo. so the first time i ever seen a golo advertisement, i said, "yeah, whatever. there's no way this works like this." and threw it to the side. a

in terms of the capex raise especially on the hbm space, sk hynix, samsung's vocal competitor is the the moment taking advantage of the strong relationship with an nvidia. not just capex but also technology leadership is more important in the hbm space. i think samsung will catch up. i think it is a matter of time to maybe samsung will start selling the next generation hpm three e two nvidia in the next couple of quarters. haidi: where do you stand in terms of the ssd versus hdd debate because that is going to be a key aspect of whether samsung could benefit from the replacement cycle. >> i think that is very interesting development. last year, people focused on the hbm from ai compute market angle. recently the ssd shortage is deepening simply because there is a strong demand from the ai storage market for high density ssd. 60 terabyte, hdd, maximum density less than 20 terabyte. drive generating too much heat, too much power and too slow for ai application. we are in the early stage of the strong demand coming from ai applications. the inflation market outlook is quite optimistic.

sk hynix seeing more minus -- more modest gains. we're seeing some associated optimism. interestingly we heard from elon musk talking about that feverish demand perhaps when it comes to ai-related demand starting to pass for chip demand. paul: let's talk about the bank of thailand, facing government pressure to cut rates with the prime minister insisting inflation is not low enough reason. we will have a preview coming up later. also janet yellen wrapping up her china visit with a warning against any aid for russia's war in ukraine. details of that next. this is bloomberg. ♪ so, what are you thinking? i'm thinking... (speaking to self) about our honeymoon. what about africa? safari? hot air balloon ride? swim with elephants? wait, can we afford a safari? great question. like everything, it takes a little planning. or, put the money towards a down-payment... ...on a ranch ...in montana ...with horses let's take a look at those scenarios. j.p. morgan wealth management has advisors in chase branches and tools, like wealth plan to keep you on track. when you're planning for