sophie kamaruddin is standing by with your first word news. manus, in america, janet aid u.s. stocks are elevated. she made the comment to cbs this sunday morning during an on friday asorded she prepared to leave the central bank. >> i do not want to stay too high, but i do want to stay high. the ratios are near historical ranges. if you look at commercial real estate, prices are quite high relative to where it has been. now, is that a bubble, or is it too high? there it is very hard to tell. but it is the source of some concern, that valuations are so high. the hardn the u.k. choices of brexit have tipped the members of theresa may's party into warfare. the m.p. advocates leaving the eu without a transition period. in sharp contrast, philip hammond. angela merkel is allowing extra time for talks renewing her government alliance with the social democrats, suggesting that a deal is within reach. a target date of yesterday for concluding a coalition pact came and went, extending the country's largest portable stalemate since world war ii. with an

sophie kamaruddin with more. t is a return to volatility after a calm 2017. if you look at -- the nikkei 225 rising almost 3%. the topix rising the most in 15 months. the yen gaining ground, but holding on to its today loss. , korean shares its a three day drop. the won, strengthening the first time in five days. the government says it will take stabilization efforts if needed. in sydney, stocks hold a two-day drop. the aussie dollar is under pressure as it gets sold against the kiwi, following robust jobs data. the kiwi dollar under pressure this morning. we will need the rbnz to take a hawkish tone. stocks in wellington the slide after the long weekend, following the correction we have seen in recent days. i would like to look at the bond of, looking mixed this morning. we do have kiwi debt rising after the latest eco-data. halting ark crude a three-day decline that met expectations u.s. stockpiles will fall again. gold is recovering, up 0.2%. let's close the board to check early movers. most, it is inhe the sem

market check from sophie kamaruddin. equity investors saying it is a buying opportunity. sophie: we have global stocks continuing to rally. stocks in japan extending gains for straight session. the kospi on the rise. check -- weian on have the korean won. aussie shares rising for a fifth straight day with earnings in focus. ron's looking study. morgan stanley coming out to say it is time to get bullish on bonds. that wemberg points out are heading towards the head he days of late 2017 warnings about complacency. the sense is that if the fed chair can call markets, -- c markets, we calm may see the beginning of a powell put. the tech giant is preparing to all-out three new -- roll out three new smartphones. flipping the board to check in on aussie lithium minors, they are under pressure this morning, citing after morgan tammy said prices of them al -- the raw material will peak. increase. a last look at the nikkei 225, which is warming up. i will be keeping a close eye on financials as officially the groundwork for a regul

here is sophie kamaruddin. sophie: stocks are mixed, but we see losses ease in sydney.% cannotl and it tokyo, we count our chickens before they hatch, following the turbulence on wall street. touch.lds picking up a we do have investors latching onto earnings today. on the back of company updates, firstly in tokyo, engineering rising, despite posting an annual loss. they're the best performer so far on the nikkei 225. i also want to highlight that among the worst performers in tokyo, which is not adding to much of a drag to the nikkei 225, this one falling a fifth day. to see what is falling in seoul, i want to show you engineering and construction. that stock is sliding amid a local reports. japanese stocks are a mixed bag. tokyo, -- may be giving up the bid for the company. the kospi on february 9. uber in sydney, we are seeing cap marks slating as -- sliding. net income of for the company fell. we are seeing copper miners under pressure in sydney as well. this following the drop in the red. overnight we had copper futures sliding to a december low. consider the broad

let's get a first word news update with sophie kamaruddin. ie: german chancellor angela merkel's block with the social democrats has secured an agreement even though large to france's remain. the secretary of the christian social union says negotiators remain willing to compromise. the parties are dozing in on the deadline to complete talks by sunday, so they have given themselves to more days if at sending -- two more days if outstanding issues arise. donald trump is releasing a memo about the fbi's illegal surveillance. the move is likely to ratchet up partisan warfare over robert mueller's investigation of the trump administration and his 2016 campaign. has said theretary u.k. must not enter into a new customs union with the eu after it leaves the block. his comments to bloomberg set a new brexit redline for theresa may's negotiations with brussels and her own party. fox also offers support for the embattled prime minister. >> her middle name is resilience and that's what she is showing and i wish more people could see the commitment she is

sophie kamaruddin has what's going on here. rtainly, we are seeing red as investors wondered just where is the bottom? losses of over 2% in seoul and sydney. the nikkei and topix losing. several strategists have been trumpeting that the fundamentals remain intact. we are at the start of a bear market, but others say this is a healthy correction. we have the earnings story continuing, wondering whether that might help. we are seeing a big one today in japan. we have to bear in mind whether or not we might see some intervention from regulators. monday, we had china and taiwan we sawto stem the losses in those markets. keep an eye on what's going on in the safe havens faces. you have the japanese yen trading around that one can 110 handle,at trading near the one-week high. 110ar-yen recovery to the level. share prices are expected to retained stability. losses over 3% into your. let's see what's happening with the bond space. there has been a switch up of sorts when you take a look at bonds. we have on the bonds tracking the overni

let's get your market check with sophie kamaruddin. we are seeing a pretty good start to monday. r being doused. gains in tokyo extend for a second straight session, the kospi having .5% and all these stocks rising for a fourth day, building on their best week since october. about 70% of the 130 companies that have reported this season in australia have at least met market expectations. we are keeping a close eye on steel players in asia today following a report that trump is on steel andariffs aluminum that were provided to him in january by the u.s. commerce department. when it comes to steal, potentially a 24% tariff on global shipments. we are seeing a response now in steel stocks in tokyo and keeping an eye on blue stock and the like in sydney. another jumping on its earnings report. check it out on the board right now. also seeing a move in posco in seoul, one of the bigger boosts to the kospi this morning. trump has until april 11 to make a decision on steel, until april 19 for aluminum. this could exacerbate the gap between lme and shanghai aluminum prices. 8865, steelon #

meantime, market reaction with sophie kamaruddin, watching some of the aussie movers. as well. sophie: earnings season very much under way. according to a credit squeeze a stronger earnings season than we have seen in the last 15 years. that's not translating when it come -- transmitting when it comes to the moves in tokyo. in termsbiggest drag of points. the minor is expected to deliver its biggest first-half profit in three years. that's not helping the share price today. when you take a look at the bright spot, tech shares leading the adventures, up .9%. ltm.igher by let's pull up the board to check in on shares. we have it on track to close at a record high. the company develops electronic design, automotive software. ins after reporting a drop income and projecting constraints in operating market growth. the competition is getting focused. consumer strategy -- a share,king ahead to it seems there is not so much to guide market sentiment. how is the mood really shaping up? sophie: when you take a look at the mood in the equities and bonds space, you have declined ac

let's check the markets with sophie kamaruddin. futures pointing to a loss at the open. a slightly lower loss so far. the nikkei 225 sliding 8.8%. the topix has a rout. the global fundamental picture does not look too bad. he notes the stock price moves algorithm if due to changes, will continue. losses are resuming for shares in sydney. we are seeing right spots in the gold mining space. keep in mind we have had central bankers in asia reassure tightening is not imminent. the governor said he will not be pushed into pushing up rates. markets are stopping from this motion sickness. up for thes shaping worst week since february 2016. in terms of how low we can go, the market correction may be close to the bottom. there is no reason to be worried, reminding we are not yet in bear market territory. michael mccarthy's saying the decline in asian stocks are unlikely to match the plunge. is not over.e let's check in on the risk radar, treasuries and the dollar under pressure slightly. we are seeing a move toward safe haven, the yen exten

. >> we are counting down to the market open in tokyo and seoul, korea with sophie kamaruddin now. e a catch-up rally from china? sophie: the market on watch mode. there could be some catching up to do. there might the pent-up demand. we have concerns around the deleveraging campaign. we are getting statistics indicating consumer stocks might be a bright spot given movie going and buying of retail and people shopping. says now would be a good time to buy chinese stocks on the depth. insurers, health care, e-commerce, and this week and gains among offshore stocks, developers, and energy companies. as you can see, mainland buyers made child back into hong kong after being left out on the while a 6.7% advanced chinese markets were off, so a few catalysts when chinese markets come back. the china reopened is in focus after the lunar new year holiday. it is likely to keep those equity gains we have seen so far in check. >> investors had a rethink of the fed meeting minutes and implications for policy tightening. with little data today, there could be headwinds as treasury yields edge clo

here's sophie kamaruddin. ighlight today, deutsche bank reporting revenue of 26.4 billion euros, lowest -- below estimates and the lowest since 2010. a 27% slump in sales and trading revenue. we have an interview with the ceo at 12:00 u.k. time. tona is drafting a proposal allow gambling on china and island.- hainan according to people familiar, government agencies under a party reform group headed by president xi jinping are allowing online gaming, or sports. ony ban gambling and casinos the main. that's your bloomberg business flash. manus: apple's revenue trailed forecasts, but the firm sold fewer iphones than was expected in the first quarter. the fiscal first-quarter. if you popped in late, late trading due to the iphone x solid demand and they have a pledge to use cash to buy back acquisitions. anna: meanwhile, google's parent company alphabet missed estimates way down -- weighed down by rising costs. shares fell in extended trading. ben kumar still with us. the tech titans of the world, it is not always

over to sophie kamaruddin at the wall. : we take a look at the losses across stocks and bonds, you have to wonder just how long this synchronized selloff will persist. will investors eventually turn to behave in space of treasuries? the yen gaining ground, rising for the first time against the while 2/10 of a percent, japanese stocks are falling the most since november 2016. in hong kong we are seeing shares falling as much as 2.7% as tencent leads across the region. while global funds are heading for the exit when it comes to stocks in hong kong, mainland investors are buying in common net purchases topping $1 billion in the first part of this session today. that could indicate that hong kong shares market could perhaps be better buffered from the global than in the past. we are seeing philippine bonds under pressure as well. trial --e bank is in central's rateco decisions on deck. the rba policy decision is due out on tuesday ahead of all the bonds on pressure -- policy -- aussie bonds under pressure. pressure,ude under e

now for all of today's market action let's get over to sophie kamaruddin. , the rallytocks continuing, but chinese on short equities are the clear outlier come a falling over 1% as markets consider what direction policy will take. there are reports china is planning to reduce its budget deficit target for the first time since 2012 just below 3%. in korea, stock gains on the kospi east after the central bank held on rates. space, we waiting are jerome powell's first public comments. switching head out to check on currencies. i want to highlight new zealand, the kiwi dollar sliding .4% after a surprise widening of the trade deficit. elsewhere, the onshore renminbi set for the longest streak of gains in a month. in the commodities space, fairly mixed, but more pressure with ore islining, and iron retreating. when it comes to equity movers, alps rising in tokyo as its board is to discuss the merger with alpine. aia climbing after reporting a .8% rise for 2017 one cold air producer have surged with other producers -- has surgedproducer with other producers in the region, but felt over 5%.

toh that, let's cross over first word headlines from around the world with sophie kamaruddin.ays ansraeli military antiaircraft missile probably brought down one of its fighter planes. the f-16 was shot down as it took part in and attack. a russian plane has crashed after taking off from moscow, killing all 71 on board. it was heading for a southeastern city, but disappeared seven minutes into the flight. known what caused the crash. reports from japan say governor kuroda is to be given a second term. will minister shinzo abe appoint governor kuroda for another five years. that would indicate the prime minister wants to continue with the boj's unprecedented stimulus program. south africa's ruling african national congress meets to finalize the transition of power from jacob zuma. the anc leader has told supporters the party must resolve this problem, including accusations of corruption against azuma. the new anc leader is expected to succeed him in his presidency. has beenty airport closed indefinitely after the discovery of a world war ii bomb. the weapon was found during dev

the latest with sophie kamaruddin. the u.s. stock selloff sparked by jay powell. all about him today? sophie: he will be front and about whatn concerns this might mean for sentiment around bonds and equities. when you take a look at what is on the deck in asia, plenty of data on the agenda. proposing steep duties. going back to the data front, pmi from china to india's gdp. the first budget. we are going to kick off with the japanese industrial output and retail sales. activity expected to deliver the steepest month on month drop since 2011. ahead of that, we have the yen sticking above 107. the finance ministry says the dollar-yen has been plateauing for now as investors are hesitant about which way to go. yen asuld be a gift to well as euro bulls according to , saying thisk offer better levels to reestablish fresh loans in both currencies. the up heat tone helping to lift the dollar, trading above the 2017 low once again, and taking a look at them with radar, the dollar at that level, while gold is treading water and oil and a pressure after dropping the most in

sophie: i'm sophie kamaruddin with a check on the markets. stocks are mixed.s of strong pmi reads. taiwan, notable among them, adding the positive growth in the fourth quarter. a 22% jump in korea next for adding to the lure of the global growth story. although the inflation picture is just a touch disappointing with cpi coming in below forecast for south korea and indonesia. that is not dampening the mood in seoul or jakarta. chinese stocks set for the first week since 2016. consumer and health care shares among the hardest hit. the first rise in seven days. when you take a look at some of the reverse, earnings very much the focus. tokyo gas jumping the most in 21 months after boosting its profit forecast. that is rebounding. the biggest gain in almost a decade after xerox announced a 18ger that will create an billion dollar company. fujifilm is the best performer across the region. , one ofote on fujitsu the worst performance in asia after the third quarter mess. we cap down -- countdown to the top of the hour on bloomberg. ♪ emily: this is "bloomberg techno

sophie kamaruddin there. boj under pressure. curveld be a sign that flattening has gone far enough.loomberg markets life strategist. comeyield curve control there is always the danger aople misinterpret this as bond buying operation that does not imply shifts in policy. we have to be careful with this. >> there was a small tweaked a bond purchases in january. , governorf days later kuroda had to reassure markets that qt was not ending as abruptly as people thought. they injected a large amount of three-year and five your purchases. he is addressing the long end of the curve. in 2016 when they introduced the 10 against 30 year curve control, it did push the yen up slightly and the equity market as well. this time he seems to be addressing the fact that has flattened too much and he can help the dollar-yen move as well. theaad: how does environment of rising rates by the fed impact what governor kuroda is trying to do? >> in a way it helps them come although -- him. do tooyear did not badly. that does not help japan initially. he would rather see 30 yields rising. japan does need to d

let's get the latest with sophie kamaruddin. >> the yen sticking to a high after making it to the 107t, we did see u.s. stocks edge barely higher. but it is not dampening the mood in tokyo. gainingei and the topix nearly 0.5%. but for japanese stocks to recover from recent corrections, foreign buyers will need to return, unless treasury yields stop rising. 0.7%.ul, the kospi adding in seoul we have two keyboard meetings, samsung electronics, and a g.m.. their future operations in the country are clouded. aussie stocks led higher by materials and i.t. stocks. tracking their u.s. peers higher as it follows a surprise drop in u.s. supply. noted,lar-yen, as you not budging much following the latest inflation figures. nomura pointed out, the dollar-yen looking more volatile. you cannot rule out the possibility for it to retest 105. betty: thank you so much, sophie on reaction in the markets. good news from the boj, that key inflation gauge not slowing in january. what does that mean for the boj? let's talk more about that. i want to bring in kathleen hays. was already to come out and talk

for the latest, with sophie kamaruddin. >> nerves, indeed, when you see the open and seoul and tokyo. losing percent. when it comes to the recent yen strength, that is a concern, should it remain persistent, given it raises the risk of an earnings shortfall compared to what japan ink -- inc provided. set to be the best performer in 2018. financials drag to the most on kospi, down 0.4%. aussie stocks, amid this earnings data. i want to highlight what is happening with the aussie dollar, ahead of australian wage pricing. which will be of interest to rba watchers looking for signs of inflation. here is a look at the stoxx pushing the dial. ks pushing the dial. tescue indicated it is losing out from china's race -- from china suisse on raw materials. coal took a hit. a bit of a mixed picture in sydney. ramy: thank you very much. here in the united states, details on the rush investigation. a former associate at a firm is noww admitting to lying to authorities. let's bring in jodi schneider. what is the significance of the guilty plea? >> it is the fourth guilty plea in this investigation

let's get the latest with sophie kamaruddin. >> building up in hong kong, a haze descending on equity a second day. the two-month low extending the losses we saw in february, the worst drop for the currency since may 2016, getting knocked it down further to the capex data lower than expected. there was a 1% rise. --ee the korean won trek that being lost. the yen holding below 107. stockso, japanese dragged lower by resource players. we have some of the worst performers, kawasaki with the theest drag, following bullet train incident. he said earnings cannot be assessed. andave copper and metal gold miners. february was the worst month and five for copper. they cut expectations to a low. in sydney, lithium miners under pressure. company bought lithium supplies. steel industry chief warning of the risk of a global trade war, should trump impose tariffs, warning of a pandora's box retaliation. the biggest drag so far today. david: thank you, the big story out of taiwan, has wider implications, is the shortage of toilet paper. it has gotten so bad, the country has urged the public to avoid

sophie kamaruddin, thank you very much.r into what to expect in the asian trading. of indicators here, what is the best for whether asia will buy into friday's little rebound in wall street? mark: a lot of people will be looking at the hunting index, an important one for the whole of asia. it's been extremely volatile in the past couple of weeks. it's done about 13% of its highs we saw in january, which is a pretty substantial fall i any measure. it got down quite hard, as well. there will be people looking to see whether there is stability in that index particularly as the s&p have a little bounce after the 200 day average. hanseng hasn't reached the average yet. there will definitely be some eyes on that one and people will be watching the china markets closely. they had a hard fall on friday. coming up to the lunar new year break, probably a good time for a lot of people, probably relieved we have a natural circuit breaker in markets that allows them to reassess. could be volatile today, but if we get to the next couple

let's kick it out to sophie kamaruddin. there we have it. d the week on a positive note. we had some jitters in chinese markets following lines around an bang. we are seeing them reverse losses, the shanghai composite up .5%. for the hang seng and h-share index. energy stocks leading gains in hong kong and korea, where the kospi is one of the best performers today. in tokyo, gains across the board for the nikkei 225 and the topix , following the latest inflation data. quickly at the currency space. the korean won rising for the first time in four days as the dollar is little changed. we had some movements following stephen mnuchin's comments on inflation impacting broader inflation. we've had doubled line capital site not so sure about that. volatility will likely remain as we await jerome powell's address to congress next wednesday. theyen keeping steady below 107 handle. some pressure from the inflation numbers earlier. number are expecting dollar-yen to continue, but the pair looking for honorable. no more saying a retest of the 105 handle

let's get to sophie kamaruddin with a look at the market. on friday, investors in asia have been waiting for this moment to take profits given. the lofty valuations across the region. when you look at the breakdown, you have the taiex taking over sincein, the most november 2016. australia is not a good start to the opening season there. have aussie bonds also under pressure along with the rest of the region. today's auction of debt not finding much in lowering in investors. this as the yield premium has managed against the u.s. and over in tokyo, check out the nikkei 225, down 2.6%, the worst drop november. japanese stocks still remain dirt cheap. i want to highlight some of that. take a look at the big picture. they still remain attractive and they are still remaining their 60,000 forecast for the index. take a look at currencies and commodities given the moves we saw for the dollar. we had a lot of dollar short backs and caught given the moves in the currency space. the korean won is eyeing that 1090 handle. the most in two months. not muc