back to stephen engle.o be up-to-date with all of the latest developments, just type tliv on your boomer terminal. european stocks poised for a fifth week of gains. a lot of them came in better than expected. one of the biggest challenges for equities in 2018. the best can be still to come with the numbers expected to improve substantially into next year. how healthy are they looking at the moment? joining us now is tim cragin. tim, thank you for coming on. if you look at equities, i don't know how much you focused on the earnings reported or forward guidance. tim: it is one of those things where it is a little bit of both, and the good news with the ink, expectations coming were relatively muted. a lot of that is because of currency. clearly the underlying macro picture is quite strong. what we have seen thus far has been a modest beat on the top line. a modest miss on the earnings number, depending on how you want to cut them. currency is definitely one of the issues. we have seen stocks responding favora

stephen engle is standing by with your first word news. ussia will have sanctions imposed upon it. that is according to the top u.s. diplomat to the united nations. speaking on face the nation, nikki haley said steve mnuchin will announce new sanctions today that "go directly to any sort of company that is dealing with syria's president assad and chemical weapons. this comes as the u.s. and u.k. assess the next apps after friday's strike on the country. james comey has said that donald trump is "morally unfit for office." and he cannot will not russia having incriminating information about the president. trump treated a barrage tweets. george stephanopoulos interviewed him and he said that that during the campaign he was dishonest. >> i chose those words carefully. i used the word "dangerous," in a do not think it is overstated. why not? about guns ort taxes or immigration and we always have, but what we have in common is a set of norms, most importantly the truth. that, thelose tethering of our leaders to the truth, what are we? sebastian:

stephen engle, our chief correspondent.ng all the details of the keynote speech later on today from president xi. earlier, stephen engle spoke with elizabeth gains as a she says the trade friction between the u.s. and china will not have much of an impact on demand at all. >> we are a supplier of iron ore, 170 million tons a year. china imports about a billion tons of iron ore, and steel. of the steel production, only one million tons is exported to the u.s.. most of it is -- and most of it is consumed domestically. what we see is the demand for steel in china is staying strong, so we do not think the tariffs, given the small amount exported to the u.s., will have much impact on our business in the demand for iron ore. >> but the reverberations of the global economy will have an effect, obviously, and perhaps australia will be exempt on the steel tariffs, but china is going to be in the crosshairs. some of the mills there are under constraints right now. even malcolm turnbull said that trade wars is a race to the bottom. yo

stephen engle has been watching the unification bridge.s that has caught all of our attention is the fact that both leaders reflect step into the north. is there anything we can read into this? that is one thing i noticed when i was watching on my smartphone. the interaction between the two gentleman was quite congenial. it was very friendly and there was a moment when moon jae-in said to kim jong-un, when can i come to pyongyang? , in what seemed like an unscripted moment, in a very scripted pump advocate circumstance ceremony -- pomp and circumstance ceremony said, why not now? they stepped over the bulkhead into north korea for about 10 seconds. the south korean press congregated all around me here thaticked up on that and was their headline most of the morning. we have now had that ceremony about five-and-a-half hours ago and we were waiting for a south korean presidential spokesman to give us the details of what they have been talking about behind closed doors. briefing.ery short the spokesman said the two gentleman had serious and fr

thank you so asia reporter, stephen engle. nce, you can follow all of this and all of our coverage on live go. fantastic coverage from stephen and our team. joining us now is diana amoa. diana, great to have you with us. think you for joining us. we have seen -- thank you for joining us. we have seen the concerns around trade tensions. space, hasd income it changed anything in the way that you might allocate, because as manus was showing, this sort of volatility, particularly in the treasury's market has been subdued? diana: that is very correct. one thing that has been interesting and the volatility we didn't see too much volatility because it seems like technicals have been a very for rallying in fixed income space. when you look at u.s. treasuries, they were 298 fusco. -- 290 a few weeks ago. we didn't see a sustained rally in that market. i suspect now that the trade tension seems to be diminishing, we will see this technical factors the coming into play -- factors coming into play. the fiscal expansion kicks in and will be

stephen engle is covering this dramatic moment. happened so quickly, were talking about rocket man and now we are talking about real developments. donald trump for the kim jong-un as being a honorable man. if come a long way in a short amount of time and we have to keep in mind the summit later this morning should not be businesdismissed. this is going to set the mood for those eventual talks between the united states directly with kim jong-un. there's a lot at stake at how the two sides will press each me.r in the dmz behind this leads to the dem ilitarized zone. used to be a place where the two cooperated. over to my left is the unification match well president moon will drive into the peace village later this morning. 9:30 a.m. is the first step. we know kim jong-un has left towards the dmz zone and you'll make the first step at 9:30 a.m.. pomp andl be circumstance including handshakes and planting of a trade. kim jong-un will meet and review the south korea honor guard, and 10:30 a.m. is when they sit at a table face-to-face an

stephen engle is joining us for the latest. long way from conclusions but a big step to be taken later on in the week, right? stephen: that is right when the president of the koreas meet at the dmz supposedly on friday. kim jae-in and tim j -- jong-un, there could be a peace deal on the table. donald trump treated we are still a long way from conclusion of that, but it would be a big step forward. a big step forward came verbally on friday when kim jong-un through the domestic agency, the kc and a announced -- kcna announced they will dismantle their mountainous secluded testing site in the northeast part of the country. the test site which was widely believed to have been damaged effectively in the last test in september where they tested what is believed to be a hydrogen bomb. there has been little activity there since the reports of some tunnel having been collapsed. whether this brought kim jong-un out to the table and his more conciliatory tone, we don't know, but there has not been september. since north korea has been say

joining us from south korea is our own bloomberg's stephen engle. bring us up to speed.en following kim jong-un's arrival into the demilitarized zone and crossing into the south korean side. isrting about 12 hours ago when he arrived at 9:30 local time. it is approaching 9:15 in the evening now. it has been a long day and kim jong-un has spent a bit of time in the area. there was a break in the middle of the day about four hours when he returned to north korea. some momentous headlines coming from the two presidents of north and south korea today. they have agreed to end their hostility with a peace pact, the formalization of that will be happening by the end of the year.also , more importantly, as we approach a potential summit between donald trump and kim jong-un in a matter of weeks is what moved and kim say will be -- moon and kim say will be complete denuclearization of the is led to complete denuclearization. he addressed the western media for the first time ever this afternoon. again, he spoke to journalists at the banquet, which is just concluding the formal even

here is stephen engle. freshsia will have sanctions imposed related to syria.t is according to the top u.s. diplomat to the united nations. speaking on face the nation, nikki haley said u.s. treasury secretaries will announce new sanctions today that go directly to any sort of companies that are dealing with equipment related to syria and president assad and his chemical weapons. it comes as the u.s. assess their next steps. comey fbi director james has said donald trump is office" andit for he can't rule out pressure having and committing information. trump released a barrage of tweets calling him slippery and a self-professed leaker. in an interview with george stephanopoulos, comey said he concluded trump was dishonest. >> i chose those words carefully. i was worried when i chose the word dangerous. was that an overstatement? i don't think it is. fight as americans about guns or taxes or immigration and we always have. what we have in common is a set of norms, most importantly the truth. if we lose the tethering of our leaders to that truth, what are we? tru

haslinda: great stuff stephen engle speaking to john chen at the boao forum. blackberry stocks are down about 20%. another stock that's down 20% in the past 12 months is deutsche bank. this is a bank that's been struggling to boost he is profitability. we're seeing the third ceo six years.e in about we're talking about christian from john klein. he has been under lot of pressure from shareholders to be replaced because he's failed to revive the bank. this is an ongoing story. it's very difficult position the bank is in. to despite three ceo's. it's struggling to boost even gone downich has about 30% sense 2015. andnue from both stocks bonds under a lot of pressure, david. going away. to be david: there's really a big question here on what the is for theategy bank. john klein took over back in 2015. i think mandate was to stabilize the bank and also clean up the company. to a large extent, he's managed to do that. of multibillion dollar legacy misconduct cases. he's been able to reduce some risk. a the newking at back.heading what we didn't see was a path andre

yvonne: our stephen engle is there as well. it is interesting to see how this will play out.ple say this is a sideshow to what we will see, a potential summit.trump's the symbolism shows how important this is for the two koreas. we cover all angles of this in the next couple hours. u.s. in terms of where the markets closed, in the green. the s&p 500 up a little more than 1%. it was more of an earnings day. we saw facebook rise as much as 5% -- 10%. it was definitely an earnings story here as we hand off to you guys in asia-pacific, yvonne. yvonne: it seems like a perfect backdrop for a happy friday. tech seeing revival here. facebook and amazon, that $50 billion market cap shape up.e tech bears new zealand, up 0.5% on the nzx 50. a fire on the rally in the dollar. have a look at australia, futures positive, up 0.3%. -- up 0.75%. we are counting down to opened in japan and korea. it is boj decision day as well. i put in euro-yen, which is crucial after we saw a dovish mario draghi yesterday. could we see a more dovish boj? 132.36 right now. dollar-yen is above 109. let's get y

anna: stephen engle speaking to carlos ghosn, renault nissan mitsubishi alliance.ng conversation about china. quick word on oil markets, a big thing today. we are hearing from novak, the russian oil minister. he says russia's oil cuts compliance in april was almost 100%. he talks about the extent of the surplus we have seen in oil markets and said the surplus, he sees it dissipating in coming months. we heard from the amani oil gut --r who said the glut is not cleared. a big focus on commodities, moving higher in recent days. a little more weakness coming in today. oil price of the weaker, but the equity story is a little weaker. that is a tech story and we will get an update at the top of the hour on that. oil is a big theme. coming up on the program, we are live in jeddah where opec and non-opec leaders are meeting to discuss oil supplies. meetingg for that around oil supplies. could they agree to further cuts? we will have to wait until november. this is bloomberg. ♪ this wi-fi is fast. i know! i know! i know! i know! when did brian move back in? brian's back? h

stephen engle is there.hat optimism you're talking about is because of the comments coming from president xi jinping this morning and the keynote address, where he gave more concrete information about the market access and the opening up eras talking about 30 a new of opening up, he says, including more opening of the insurance sector, financial services and the automobile to reducere they plan or eliminate import tariffs on vehicles, as well as potentially scrap or change the 50-50 joint venture requirements for foreign automakers with their domestic partners here. let's talk about the insurance or because that is where our next guest has his expertise. mike wells, he is credential's ceo. you heard xi jinping. he mentioned the insurance industry at -- at least twice, music to your ears? mike: it is. there is a consistency to the message going into the party congress. our meetings with the regulators they have consolidated and again today. i think for the insurance in china, there have been a few major refor

correspondentief in asia, stephen engle, watching all of this.g some history being made, even though it might not get anything out of >> well, there is always a risk that this goodwill we have seen initially may not bear fruit, but at least it is a good beginning. and thed of summit conviviality between the two gentlemen seems very genuine. it would be unthinkable, last year in 2017, where we were dragged down by the "fire and fury rhetoric between the u.s. and north korea. now, there seems to be on air of reconciliation, if not, eventual reunification. that is still a long ways off, but this could pay the way for another high-level summit the between kim jong-un and president donald trump. perhaps as early as late may. but it was an interesting site to see the two gentlemen walk hand-in-hand, both to the south and to the north. both leaders went to their respective sides of the demarcation line. that is very symbolic, of course. the first am that the north korean leader has stepped into the south, since the armistice signed in 1953. so it is tru

stephen engles, our chief north asia correspondent.ing to the support of washington on this, let's get to first word news with paul allen. thanks. japan and the european union want to join the trump administration's wto case over china's alleged discriminatory tech licensing rules. the new filings show brussels in tokyo have a substantial interest in the dispute going ahead. of the largest stakeholders in technology transfer to china. president trump is pulling back from his call for a nafta deal by next week, saying something may happen "fairly soon." he wanted an outline agreement so he and the leaders of canada and mexico could make an announcement at the summit of the americas in peru next week. now he says he has told staff to take it easy and that he will have it done right or the accord will be terminated. suspended the party of a former prime minister ahead of an expected election announcement later today. is seen asban weakening his challenge to the current prime minister in a vote possibly coming within two months. the suspen

stephen engle, thank you for that. we're watching very intently what xi jinping said. let's get more from the cro at the global equity group. great to have you joining us. chart to throw up this which illustrates that even though you have analysts and economists saying it is too early to panic when it comes to these concerns over a trade war, you can see these global stocks companies that have oversight exposure to the chinese economy and chinese demand. see this msci world gauge relative exposure to the world index, it started falling for the end of february and is now trading relative to msci at its lowest since october. try to position yourself in a way that takes advantage of some of the better valuations but stay with from companies that might have negative exposure. >> what we are seeing is a creation of uncertainty. with the outcome of this is but the direction was pretty clear. if you have tariffs in place you look at slower global growth. that seems to be put at risk. haidi: 2017 was abnormally calm. aroundlook at moves tech, is there a fundamental shift or ba

betty: stephen engle, our chief north asia correspondent. high-stakes. still ahead, we are expecting china's latest gdp numbers progrowth critic at 6.8%. we will look more at the headwinds racing the world's second-largest economy a little bit later this hour. yvonne: up next, how our markets preparing for the chinese data dump? his thoughts. we will look ahead to this barrage of fed speakers this week as well as the potential new vice chair. this is bloomberg. ♪ yvonne: and we are counting down to asia's first major market open this morning. japan's futures lower today. aheadrse, we are looking to president trump and shinzo abe's summits in mar-a-lago, happening today. this is "daybreak asia." i am yvonne man in hong kong. betty: that's right. i am betty liu in new york. u.s. stocks rising on the back of the fading concerns about geopolitical tensions. equities let higher by gains in tech, health care, industrials, and netflix jumping in the trade, as we saw, adding more subscribers. forecast is in the first quarter, we want to drown ourselves and good

stephen engle joining us now from seoul, breaking down the numbers on south korean gdp. . what else can you tell us? stephen: the south korean economy is doing ok given the headwinds, the potential trade friction between china and the united states, and also the warnings from samsung today and high next earlier in the day. first quarter growth, quarter-on-quarter as well as year-over-year, was pretty steady. year-over-year in the first quarter, 2.8%, now 2.8% in the first quarter. also quarter over quarter came in at 1.1%, in line with estimates. in the first quarter, we did see some strength in semiconductors, weakness in automobiles because of the strengthening won over the last year. we have to keep in mind that samsung and hynix have had warnings about smartphone demand. is there going to be pressure on semiconductors down the road? the bank of korea has kept rates unchanged for the last couple of meetings after that hike late last year. they are little concerned -- concerned is maybe too strong a word -- basically inflation is not rearing its ugly head, so the bok ha

stephen engle, our chief north asia correspondent, watching very closely what president xi' reaction. president trump again saying china will be the first to blank. the peterson institute for economics nonresident senior fellow mary will be joining us to give us her view. this is bloomberg. ♪ ♪ haidi: this is daybreak asia. i'm haidi lun. betty: president trump said china will be the first to cave in on trade your he made those comments as his counterpart prepares, as we discussed with stephen engle to talk to investors. let's discuss this with the peterson nonresident senior fellow mary lovely. do you agree with the president that the chinese might be the first to cave in? mary: no, the chinese will not. not only do they see this as fundamental to their role as a leader in the global economy, -- the people are behind them. as you heard, president xi does not have to run for reelection. he has quite a bit of room to let this run. betty: do you think there will be any response to trump? mary: i don't think they will respond to any kind of threat like this. i think they will respond to

write, chief correspondent stephen engle there in china.u address by president xi jinping live later today in "bloomberg markets". we are awaiting that all important speech. still ahead, our exclusive interview with the dallas fed president, robert kaplan, coming -- 8:30 in hong kong and new york. tensions deepening with the u.s.. we talk with the cftc chairman next, this is bloomberg. ♪ ♪ betty this is daybreak asia, i am betty liu and new york. yvonne: and i am yvonne man in hong kong. despite escalating tensions thisen china and the u.s., gust believes that energy ties within the u.s. will continue to strengthen with china. he spoke to bloomberg at the forum in high -- in hainan. aneconomic globalization is irreversible historic trend. we have been working with energy companies in the global market. as you know, we signed an agreement during president trump's visit to china last year. after months of negotiations, we finished a deal on importing tons of energy per year. this is real progress. even though china and the u.s. have certain d

thanks to stephen engle, our chief asia correspondent.bring in gordon chang. he's the author of "nuclear showdown." that whenu have noted there's one dramatic occurrence after another, that is how we get great events in history. , if he wants to follow some duplicitous route, might be swept along to a different position when it comes to this important question, ending the war, ending conflict with south korea, and maybe moving on to some shift on nuclear stance. that mayorces in play push north korea in that direction? gordon: there are so many forces right now. president trump has a lot of incentive to disarm north korea and he's got the tools to do it. he can tighten sanctions on north korea. he can also impose sanctions on north korea is backers. we have chinese banks still laundering money for north korea into recent months. president trump could take those banks and unplug them, or he could impose heavy fines on them. there's a lot of stuff that could occur. china is sort of on the sideline. you've now got to korean leaders, moon jae

will invite the foreign media to witness his achievement area our chief north asia correspondent stephen engleback from the drama at the dmc. what theater it was. joining us in the studio, what seems to be happening now that the denuclearization will happen in the next few weeks? stephen: a lot of things have happened really fast. those were amazing sites we saw friday where i was there at the dmc, the two leaders basically bear hugging and being all smiles, and even kim jong-un addressing for the first time have any north korean leader, addressing live to the global audience. it was quite a spectacle. firsts, the of first time a north korean leader stepped foot in south korea and speaking live to the global audience. they have agreed to reach a peace deal by the end of this year. have agreed for the aim of complete denuclearization, and they will be inviting the foreign press to the northeast of the country to the nuclear test site that have already shuttered, but they will close it down and what the world's eyes to see he means business and means what he says. itthis lasting peace, or is orc

stephen engle is across all of this. 6.8% was pretty steady.is the consensus estimate, that was also the number we got in the fourth quarter. it was also number we got in the third quarter. quarters, the past 10 it has been my by 7, 6 .84 6.9. pretty steady. frederick was saying that the economy in the first quarter was at full throttle. despite all of these had was you're talking about, the threat of trade with united states or others, also costs the deleveraging campaign. thea has been battling three battles, that being debt and poverty and of course, pollution. very at theings are forefront of policy makers attention. however, the economy seems to be doing very well and in march, we will also get the numbers for retail sales in march to stay steady. 9.7% showing consumer demand is still holding up. also,rial production, they will start is no instigated monthly survey-based employment rate. that is going to start in march. at the form, the people's bank of china governors saying that the economy is remaining fairly robust and study. >> robust

stephen engle on the ground in korea.erkel meets trump today and days ahead of the u.s. -eu sanctions waiver coming to an end, we will focus on the future of trade, the iran deal, germany's military spending -- or lack thereof, the pipeline from russia. it is a fascinating story. this is bloomberg. ♪ matt: welcome back to "bloomberg markets: european open." here is what you should be getting ready for on this friday. nato foreign ministers meet in brussels as washington puts pressure on its allies to bring military spending up to the levels that they previously promised they would. will get first-quarter gdp data out of the u.s. at 1:30 p.m. ak time. we may just rush over it as the first quarter is pretty weak and everyone assumes will bounce back. angela merkel is scheduled to have a working lunch with president donald trump at the white house. she wants an extension of tariffs. he wants her to stop cooperating with russia the by his energy instead. juckes.th us is kit kit, just to get back to the gdp number. you don't e

let's get to stephen engle, back in the drama, this is happening quickly.ieces always good. but there has to be some cynicism is a promises made and broken in the past. it seems there was a good faith attempt by the two leaders to have camaraderie. they showed camaraderie. hugging each other, all smiles. usual: it breaks the pattern that we see with these talks. stephen: i have covered a lot of these over the years. korea andons of north that overtures apiece and back and forth. the warmth between these two men was noticeable. it was palpable. very different than in 2000. that was a lot stiffer. this is going to come down to, is this a lasting peace? kim said hee when is not the type of person to use nuclear weapons and he is no reason to live with all of these difficulties. we will see. betty: as our earlier guest said, you can question the sincerity, but the devils are in the details. what is being asked to be negotiated between all parties? so far, what have we seen from the u.s. and what do we know? stephen: the devil is in the details. we know they are

cfo cindy xiaofan wang speaking to stephen engle.these are dollar numbers when it comes to trade data. not much, but for the entire first quarter, u.s. imports to year,rising 8.9%, year on in dollar terms. exports rising 14.8% in dollar terms. we will try to get a breakdown in terms of the easing back when it comes to exports. a huge number in february, remember. we will go through trade numbers with the china economist. ♪ ♪ it is 10:20 >> >> nine in hong kong, 12:29 in sydney. singapore changing its stands for the first time in years. changedtary authority the scope slightly from 0%, signaling policymakers would try a stronger local dollar. 4.3% data shows gdp grew in the third quarter from a year ago. u.s. commerce secretary wilbur ross told the summit of the americas his country will not give away leadership in the region. he also said corruption cannot be tolerated, and nations must create enforcement mechanisms to fight graft. he said trade barriers in latin america are necessarily severe, but the u.s. intends to help simplify t

stephen engle now digging through the numbers. what are we learning?e been watching this because coming on the heels of c, the follow-on effects that we have seen in chip stocks, but high next showing resilient demand, beating most analysts forecasts. profit climbing to 4.1 billion u.s. dollars. in the previous quarter, it was $4.47 trillion. they had a couple better than expected quarters in a row here. sales were below expectations. first-quarter sales, 8.7 8.72,000,000,001 -- trillion won. dere is softness, but ram continues up. the average selling price, up 9% according to sk hynix. this comes on the heels of that but warning just last week, again, the results bright in the prospects for another year of record revenue at high next, trying toey are finalize this deal along with bain capital for toshiba's chip division. that would give it a world beating market share in that memory division. keep in mind are has been softer than expected demand for the because skom apple hynix gets 12% of its revenue. betty: concerns when it comes to llayed.a stephen

kathleen hays and stephen engle. we are going to continue to talk about trade. for more on this. we are getting live commentary, reaction, analysis from bloomberg's expert editors on top of the day. one thing, the reaction to the proposed $100 billion of tariffs . still ahead, japanese convenience store operators seeing a boost from the u.s. expansion. the outlook for japanese retailers later this hour. betty: the fed is closely watching the president's trades. with china what does it mean for race and inflation -- rates and inflation? this is bloomberg. ♪ ♪ betty: this is "daybreak asia," i'm betty liu in new york. haidi: i'm haidi lun in sydney. we had a pretty fraught start to trading. going into the open of major markets the drop in dollar-yen, as well. picture.eing a flat modest gains, a mixed picture across asia. hong kong coming on after the holidays. taiwan and china remaining closed. let's get some more market analysis of what to make of president trump's ratcheting up of trade talks. trade tensions threatening an additional $100 billion of tariffs on c

let's get to our chief correspondent stephen engle.n flowing into bonds but traders becoming a little adverse to risk right now given the trade frictions going on. you can see it reflected in asia and the stock links to hong kong. let's bring up the boards and we can see the shanghai composite index down. down 13% since the high of this year in january 24. it has fallen in four of the past five sessions. it did break the four day losing streak yesterday but there is some negative bias, shenzhen deposit same thing. of the last for out five sessions. the stock link, mainland stocks,s sold 584 u.s. the largest winning streak since the shenzhen launch in 2016. this could weigh on regional equities. yvonne: and hong kong dollars. ramy: what is this we are learning about a possible delay of the release of the new rules for the asset managing products? stephen: this dovetails with our previous guest because it is linked to this reserve ratio requirement cut that we got on tuesday. basically we were going to get, the communist party approved t

. >> stephen engle is back in hong kong. he joins us in the studio.t like, a charm offensive? it.were there covering >> it was quite emotional. there were a lot of elderly people, young people. at the time, they were hugging and holding hands as they walked across each other's border, there was crying, lots of crying. a reason poll indicated that 90% of south koreans approve of how this summit transpired on friday. that tells me of the south koreans feel. i'm not sure it's the same messaging and north korea. we will have to find out. they will have to reach a peace deal by the end of the year, complete denuclearization, and we don't know what that means. there are baby steps being taken. north korea will invite international inspectors in the media to the weapons testing site in the northeast. we don't know that timeframe, but we are hearing the south koreans will start dismantling and removing the loudspeakers they have at the dmz to broadcast propaganda into the north, and also kapok. -- also kpop. north korea is moving its clocks forward half hour

right now, stephen engle of bloomberg news is our asia correspondent with decades of experience.tant here is davos of asia. who is he speaking to? who was the audience today? >> he was speaking to an international audience clearly. this is the blowout forum for asia. it's a conference that started 17 years ago. i've been here 15 years. they are trying to get a consensus, often difficult with the opinions between japan and china and korea and the like. they are trying to get a consensus agent -- asian voice. china is open for business. they are going to counter the protectionist sentiment coming from places like the united states. he did not mention the united states or trump. we are getting a tweak here. if he was the character today, the state media is the stick. the new openings will benefit many trade partners, but not those that violate wto rules or start trade wars. the idea here of multilateral and orchestrated speech by the leadership of china, what is his tone and his belief in a multilateral solution versus the president's effort of a bilateral discussion? stephen: he do

stephen engle is here with the latest. >> unification is a long ways away.ut who would rule that reunified -- there's some steps taken ahead of the historic friday meeting between moon jae-in and kim jong-un. we are hearing from the leader of the ruling party, saying that according to yonhap news agency, the hotline has been reactivated, and could be used by the two leaders at some point today to say their hellos. a few other good gestures overnight. at midnight, the south turned off the volume on those loudspeakers they last across the dmz, broadcasting news, criticism of the kim regime and kpop, 24/7, but they have turned it off as of the night. we are the north koreans turned down the volume of their propaganda blasts after the winter olympics. we don't know if they will turn them off completely. generally, the mood is shaping to be a positive one ahead of this meeting on friday. >> we already see stocks related to inter-korean business start to move. have we heard from the other parties? this is not just about the two koreas. >> we heard on friday from t

tom: what a great conversation with stephen engle yesterday.ussion right now with two headlines coming across the bloomberg. they hope the u.s. makes the right choice. i will leave that to the foreign ministry of china. another idea from the chinese -- they managed their message this morning -- the idea that the attitude is clear and they are waiting for the u.s. response. that would be a trump response. we will drive up forward this conversation in the 8:00 hour. someone who has been dead on in the lack of blue in china. stephen roach, of yale university, this is bloomberg. ♪ ♪ francine: this is "bloomberg surveillance". i'm taylor riggs, let's get the "bloomberg business flash". meeting high demand. according to people familiar with the matter, the european playmaker and buyers have agreed to raising to 63. playmakers have pushed back against higher quotas, signaling they are too stretched. bank of america will no longer land to some gunmakers. thevice-chairman tells us bank will not finance companies that make assault style weapons used for