i am haidi stroud-watts here in sydney.hery on end in new york where it is 6:30 p.m., and now we get to the first word news. here is jenna dagenhart. >> canada admits that nafta talks are dealing with tough issues, but it says all times are working towards a deal -- all sides are working towards . deal- the canadian minister maintains that their deal is to come up with a deal that is good for canada. more talks are expected in washington next week. president trump is attacking opec again, demanding lower oil prices as brent crude benchmark whic near as it is dollars -- nears $80. i ran added to the pressure on opec by saying it would veto any harmful. that are the oil minister says the 2016 sup ideal is in tatters and of the cartel has no authority to impose a new one. to be in talks to sell its interest in the gulf of mexico oil field to focus oil. we're told the deal could value billion.pany at $1.3 talks could still collapse, but a sale could help shall pay down debt after it spent more than $50 billion purchasing anothe

i am haidi stroud-watts here in sydney.vered a message to north korea, announcing it is ready to start second. a meeting between the two leaders earlier, the top national security adviser had said nuclear talks were stalled. jodi schneider joins us now. jody, we need some help decoding the white house message, here? is a whip smart message, isn't it? we heard from president trump that he wants to start china plans for a second set of talks leader.th korea's the white house saying that president trump had received a very warm, positive letter from north korea's leader kim, saying that he wanted to have talks. so apparently, that planning has started even though the national security adviser, john bolton, just hours earlier, delivered a message.erent saying that he thought that talks were stalled and it was up to north korea to start making progress on denuclearization before they could go forward. we really have not seen any signs that north korea has started the process in a meaningful way. hear from the we national securit

haidi: i'm haidi stroud-watts in sydney.e going to rebound. japan is showing strong underlining earnings. the situation described as a close spring. joining us is the head of equity research for asia at union bank. great to have you with us. followingd the news in the footsteps of the msci and adding china you want them unedited shares -- denominated shares to its global index. i want to look at the weakness we have seen in the composite, one gauge of how far we have seen really the chinese markets fall. if you look at valuations compared to the snp -- ask and &p, do you think the confidence will be the injection and sentiment investors need? think this isl, i well expected and trumped by the news yesterday the msci is thinking of going to 20% from almost five, in terms of rating by next year. in terms look at this of international realization of china's domestic markets, fixed income included. it is definitely a positive. is it the catalyst? hard to say. haidi: what is the catalyst? we have been talking about how bassett an

haidi: i am haidi stroud-watts.l and the question , it seemsrices go opec will not be moving in the direction president trump demanded last week. we have more on how the ministers managed to sidestep the urgent tweet from the president. say.elicately some would others say it was a snob. they are not -- snub. they are not going to immediately address the price of oil as trump asked last week. you are looking at west texas intermediate, the oil used in the u.s.. it is up to $72, but check out brent oil nearing $80. that is what caused president trump last week to tweet out the opec monopoly must get prices down now. opec decided not to do that. saudi arabia and their allies signaled less urgency was needed and stopped short of promising extra volumes of crude. let's look at what the saudi energy minister said. their plan is to meet demand. the reason they didn't increase more is because customers are receiving all of the barrel they want. that is the message that appeared to come out of the meeting in algiers. the mar

. ♪ ♪ stroud-watts.idi shery: i am shery ahn in new york. check of business flash headlines, tencent and another are teaming up to serve as a few -- service a huge number of chinese investors wishing to diversify away from the mainland. they plan to start taking money soon from retail investors who have existing assets internationally. the product will be a fixed income fund opened to individual investors. haidi: chrysler is evaluating new potential buyers for one of their units, saying an additional -- initial bid from kkr is too low. that ended the exclusivity of the talks. a former -- final decision is yet to be made. the ceo said they could be possibly preferred to spin it off on the milan stock exchange. shery: south korea has softened newimpact of taxes with a contract. the sanctions throws a russian giant. that could disrupt supply chains for parts critical to the automotive and aerospace industry. the global illumina and this -- aluminum industry has been bracing for turmoil for the october 23 deadline. haidi: widespread flooding cau

haidi: i'm haidi stroud-watts in sydney. one hour away from the open. >> good evening from bloomberg global-- bloomberg's headquarters. >> welcome to "daybreak: asia." ♪ haidi: our top stories, the canadian dollar hits a four-month high with the new freeway. the deadline is midnight in washington. issue antitutions emergency call entree. the wto, imf, and world right -- world bank. early indicators show china is being heard by u.s. tariffs. the survey is at its lowest since may of last year. let's see how things are shaping up for the market open a nation up for that, we turn to sophie. after asian stocks capped three straight quarters of losses, we are looking into the final stretch of 2018. we have china closed this monday. not in the way of reaction to the latest pmi numbers. we have it trading in australia. it will be in focus in sydney after the interesting report was less impactful than anticipated. japan's futures are not in higher ahead of a third quarter survey. it is considered a lagging indicator. that may be as,

haidi: i'm haidi stroud-watts in sydney.n to raise mortgage will likely delay any further tightening from the rba when it meets on tuesday. rates have been at a record low for two years now. we will discuss all of that. with the decision to raise rates on mortgages, the rest of the bank lenders are expected to follow weekly. >> they might -- although quickly. >> they might take a while. funding costs are up for australia's banks, and what might be more exposed to others, if we want to take a look, we have a chart to show on the basis swaps. basis swaps are the main cost for australian banks when they borrow abroad and bring the money back into australia, and as you can see, they have surged recently. the australian dollar has dropped. that feeds directly into the bank's costs. westpac, one of the more exposed, but they are all pretty exposed to overseas funding costs, they have responded by posting rates up. we have another chart you on funding costs. this is the funding cost inside australia. it has remained very elevated,

i am haidi stroud-watts, here in sydney. shery: and i am shery ahn in new york.atching "daybreak there were few surprises that iphone's annual product launch. there were three new iphones, including one bigger and one cheaper. function has an ecg for heart rate. it is the first of its kind approved by the -- by the fda. >> ios is not just the world's most advanced operating system, it is the most personal. we're about to hit a major milestone. we're about to ship our 2 billionth ios device. government is proposing new trade talks with china in an attempt to avoid further escalation in a trade war. bloomberg has been told a senior team led by secretary mnuchin has contacted its counterparts in china. any future negotiations would probably happen in washington. emerging markets also rallied. bridgewater associates founder ray dalio says the u.s. economy is about two years from a downturn, which will see the dollar plunge as the government prints money for a slowing -- he said trump's tax cuts will fade in about 18 months. rising tensions and health care costs will

i am haidi stroud-watts in sydney. shery: i am shery ahn.ates attending what is known as the summer davos. , will you be empty talk about anything other than trade this morning? steve: we do want to talk about other things other than trade, but of course, given the action coming out of washington, d.c., on those additional tariffs against china, that is likely going to dominate a one over what they cal -- day one of what they call the summer davos. as welloing to talk about the future of transportation, and that is the hyperloop technologies, and we have the chairman and cofounder of hyperloop transportation .echnologies thank you for joining us here. >> thank you for having me. steve: i have to start with the overall umbrella issues that are affecting everyone. you are a u.s. based company out of los angeles. how does this dampen the mood for investment as you have signed an agreement with a chinese company to build out some of the hyperlink technologies here -- hyperloop technologies here? bibop: our technology is so advantageous in terms

i am haidi stroud-watts in sydney. just an hour over from the open. evening from new york. i am shery ahn. sophie: i am sophie kamaruddin in hong kong. welcome to "daybreak asia." haidi: our top stories this wednesday, asia-pacific stocks look set for a muted stock. hong kong and philippine markets are the world's worst over the last five days. oil jump in the most since june as hurricane florence

i am haidi stroud-watts. shery: i am shery ahn in new york. a rainy tuesday evening.re watching "daybreak australia." first word news with jessica summers. china has confirmed it will retaliate against president trump latest harris targeting 60 -- terrorists targeting -- tar i iffs targeting imports. on measures take effect monday, although beijing says it is still open to negotiating a resolution. president trump has threatened tough action should china oppose the new tariffs. keep stressing that dialogue and consultation based on the quality, good faith, and mutual spent is the only way out of the trade dispute, but what the u.s. is doing now shows no sincerity or goodwill. jessica: the u.s. justice chinesent has told media to register as foreign agents. we are told the operations are required to disclose information about their funding and expenditures as well as their ownership structure. the order comes under the foreign agents registration act which covers organizations which attempt to influence u.s. policy or public opinion. crude oil climbed again on indicati

haidi: i'm haidi stroud-watts in sydney. asian markets and our only from open. shery: good evening from bloomberg's headquarters in new york, i'm shery ahn. sophie: i'm sophie kamaruddin in hong kong. welcome to "daybreak asia." shery: our top stories this friday, asia-pacific markets to extend gains after highs on wall street as optimism that trade tensions may ease. the dow writing a seventh game in eight days, finally a long slow from the january rise. the race is on to strip chinese goods into the u.s. before president trump's new tariffs arrive on monday. sophie: let's see how the u.s. markets closed this session. u.s. stocks setting new records. the dow now gaining 1%. the s&p 500 was led higher by financials, tech, and health care. markets shrugging off the latest trade headline. not to mention the nasdaq and tech stocks are on the rebound, gaining 1%, the most in more than three weeks. risk appetite surging, falling to the lowest level since july. let's see how this will translate into asia, here is sophie. sophie: with the softer dollar and rally on wal

i am haidi stroud-watts -- this is "daybreak asia." i am haidi stroud-watts.hery: the latest tensions in the u.s. china trade war. let's get inside with george schultze, the founder and ceo. great to have you with us. let's get started with these trade tensions. right now, we only have more and more uncertainty. will the markets be better off than before this all caps started? -- got started? george: eventually, they will have a deal where there will be a negotiated solution. it might take longer than people were expecting. the latest tit-for-tat on tariffs seems to make it that we are going in that direction, so -- shery: how positive was it that the tariffs were not at the original 25% level. we feel they are being more conciliatory towards each other? it feels a little bit, but not very much. i think investors should know that in the history of the united states, tariffs have been around for a long time. in fact, the first action by the first u.s. congress after passing the united states constitution was to pass the thisf act in the 1700s, so dispute could

i am haidi stroud-watts. this is "bloomberg markets: asia." ♪ haidi: investors countdown to the new tariffs, also said to be threatening action against japan. asia-pacific markets had for a seventh straight decline in the biggest weekly drop since march. slumped-market stocks as fear of contagion spreads throughout the developing world. i am tom mackenzie in beijing. how will china respond to a new blow from washington? we examine the possibilities as the trade standoff heats up. this is "bloomberg markets: asia." haidi: for all the reasons mentioned, that collapse continuing. asian markets in a bad mood. take a look at how we are tracking market starting to joining trading. semiconductors, worries demand is falling in that sector. that is playing out and korean stocks and taipei, singapore .5% lower. a little upside from malaysian stocks. it is the countdown to escalation. new tariffsg for from the u.s. at a maximum 25% on $200 billion worth of imported goods. dhe public consultation perio expires at midnigh

well this case is very much stroud it in mystery and we can only speculate and we have to rely on the information that is given to us by his friends and supporters they do suspect that he was poisoned they say that it was probably revenge by the russian authorities for his activities with pussy riot especially when they stormed the football pitch during the world cup final in moscow that was seen as insulting to the russian authorities and so his friends suspect that it was poisoning but again let's wait for the doctors what they have to say on monday can you tell us a little bit more about how he was brought to berlin we know he was flown into a failed airport late on saturday but who actually brought him to germany. that's. an initiative called cinema for peace foundation they're involved in cultural activities mainly they are also involved in butlins biggest film festival but they are political activists as well and very much in contact with pussy riot they have supported them previously and they were contacted by as he loves family and asked for help when his condition deteriorate

haidi: and i'm haidi stroud-watts in sydney. well when it came to financial sector in australia. is giving interim report describing an industry with bad behavior. it also criticized -- it did not end well in terms of the reputation, but in terms of the banking stocks, they rallied. what does that tell you about how investors -- ? >> i guess they thought the report would be more damaging. it looks as though the commissioner has also put some blame on the regulators for failing to do their job. maybe the market was expecting much more harsh criticism. haidi: from your point of view is the industry inefficiently regulated? andrew: i don't think so. if anything we have several different watchdogs. it is hard to determine which one should be following which particular branch. here, well, we can see there are a lot of cases that have come to light, some of which the market probably haven't taken seriously. haidi: allegations in findings include things like charging fees to deceased clients, or charging fees and not providing services

i am haidi stroud-watts in sydney.ramy inocencio in new york, and you're watching "daybreak australia." first word news with jessica summers. jessica: emerging markets continued to slide with south africa entering recession and joining currencies, tumbling to new lows. the rand led currency declines. the rupiah hit its lowest level in two decades despite central-bank efforts to protect it. a gauge of u.s. factories unexpectedly jumped to the highest since may 2004 as orders , production, and employment picked up. it rose to 61.3, far ahead of the estimate in the bloomberg survey. the measure of new orders smashed forecasts. the rise in the unemployment gauge suggests friday's unemployment numbers will be strong. brett kavanaugh said the institution must never be viewed as partisan, during an unruly senate hearing that bitterly divided lawmakers and the public. he called it a charade and mockery. a republican accused opponents of trying to impose mob rule. more than two dozen protesters were ejected from the meeting. >>

this is bloomberg. ♪ s is bloomberg. ♪ i am heidi stroud walked in sydney. i am kathleen hays. let's get a look at the business flash headlines. humor can express -- american express slumped after reports the fbi is investigating practices. the wall street journal said the inquiry began last month, looking at if customers were misled as amex tried to handle international payments. the fbi confirmed -- did not confirm or deny this. to winrework has failed space. talks stumbled when the organization received better offers from media and tech companies in the space they wanted. sources say that took the environment -- took them by surprise, and they will continue renting in the iconic building. kathleen: ford has stopped writing national as for the fusion and focus and more marketing muscle behind the mustang in sudan. that is paying off. the sports car saw sales jump 35%. they will offer more variants of this, including a special edition of the 50th anniversary of the steve mcqueen movie. haidi: we will look at the open, and later on on bloomberg markets asia,

haidi: i'm haidi stroud-watts in sydney. asia's major markets are an hour away from the open. shery: from bloomberg's global headquarters in new york i'm shery ahn. >> in hong kong, welcome to "daybreak asia." haidi: our top stories this wednesday, president trump sparks derision and denunciation as he addresses the uts, iran says he's committing economic terrorism. asia pacific features point to a mixed session ahead. japan is on track to extend the rally that's taken the topics to near an eight-month high. and u.s. equities slipping as the fed opened its latest policy meeting. a rate hike this week does look like a done deal. shery: a quick check on markets ended the tuesday session. we saw the s&p 500 fall for a third consecutive session. being pulled down by rate sensitive stocks like utilities and financials. we also saw the dwow fall .3%. energy producers were one of the few sectors that were gaining ground. oil at the highest level in four years. and the naz up .2%. although we saw facebook fall in this session as instagram founders said they were leaving the company. b

i am haidi stroud-watts in sydney.shery ahn in new york and you're watching "daybreak: australia." let's get to first word news. jenna: the frosty relationship between president trump and jeff sessions dramatically with the president telling that he "does not have an attorney general." trump says his dissatisfied -- his dissatisfaction goes beyond the russian inquiry and includes his handling of immigration issues and what the president said was a poor performance at his confirmation hearing. argentina's economy shrank the most in four years in the second quarter as the central bank repeatedly raised interest rates to support the plunging peso. gdp fell 4.2% from a year earlier. reversal -- the sharp from the first quarter when the economy grew a fraction under 4%. , damaging. rates drug, and concern as the budget deficit saw the peso collapse this year. former malaysian prime minister has been arrested over the missing money scandal. is inency says he detention and will face further charges later on thursday. he is al

i'm haidi stroud-watts in sydney. asia's markets an hour away from open. evening from bloomberg's global headquarters in new york. i'm shery ahn. sophie: i am sophie kamaruddin in hong kong. welcome to "bloomberg daybreak: asia." ♪ haidi: top stories this thursday, the fed hikes rates as expected and indicates more to come this year and next. president trump says he's not happy. the president also accuses beijing of meddling in the november midterms. china dismisses that claim as nonsense.

haidi: i am haidi stroud. silicon valley is in the spotlight. >> i am at the forum in singapore.turkey and asia, and how women are making their mark. this is bloomberg. ♪ haidi: it continues to be the story of the emerging-market selloff. equities, we get the msci emerging markets teetering on the edge of their territory. on the other hand, we are getting closer to the tariffs on $200 billion of chinese goods. we can't discount the reports of more chaos in the white house. rishaad: indeed, that continues at the moment with this op-ed in "the

haidi: i am haidi stroud-watts.business flash headlines, tencent and hillhouse looking to help chinese investors diversify away from the mainland. they plan to start taking money soon from retail chinese investors who have existing assets internationally. it will be a fixed income fund opened to individual investors. shery: fiat chrysler is evaluating potential buyers for their really parts unit. -- morelli parts unit. they offered $7 billion that ended the, but exclusivity of the talks. a final decision has yet to be made. the cio may perform -- prefer to spin it off on the if stock exchange. -- of the stock exchange. haidi: the people's insurance company added to -- hedge funds called to a management and q1 capital are planning to buy in. million u.s.$377 in the hong kong offering, several times as prescribed. jack ma is a cornerstone investor. let's take a look at some of the stocks we are watching. what is on your radar? sophie: with japan off-line for markets, checking in on what is going on in seoul. we are lo

i am haidi stroud-watts in sydney. is reported to have missed its target of 6000 model threes a week last month but has hit its overall goal in the third quarter. the company has been aiming to make 50,000 to 55,000 model threes in three months through september. they say it has turned out about 53,000 so far. that would be the same total as tesla produced in the entire second quarter. david: the bank is said to be finalizing its internal investigation into claims its estonian operations helped launder billions of dollars of illicit funds. the reporting that as much as $30 billion flowed through the unit in a single year, although the paper notes that does not necessarily mean laundered money. the bank admits the situation is complex, but says no conclusions can be drawn at the moment. settled u.s.ects a investigation into alleged sanctions violations in the coming weeks and any final penalty will be within estimates. the bank has entered more active discussions with authorities looking at dollar transactions involving

. ♪ haidi: i'm haidi stroud-watts in sydney. asia's major markets are an hour away from the open. bloomberg's global headquarters in new york i'm shery ahn. >> in hong kong, welcome to "daybreak asia." haidi: our top stories this wednesday, president trump sparks derision and denunciation as he addresses the uts, iran says he's committing economic terrorism. asia pacific features point to a mixed session ahead. japan is on track to extend the rally that's taken the topics to near an eight-month

haidi: i am haidi stroud-watts in sydney. trump may have tweeted that he feels no pressure to strike a trade to the china but our next guest believes he is underestimating beijing's result. stephen roach is a former chairman of morgan stanley asia and now a senior fellow at yield. -- at yale. in terms of the media narrative or the trump camp narrative, this trade war is hurting beijing more than the u.s. trump taking a stab at the declines in u.s. stocks -- chinese stocks and other asset classes, is that a true distinction? stephen: i wrote a book a few the two-wayout relationship between the united states and china. and, called codependency china depends on u.s. consumers to provide external support to its export led the economy, but on the other hand, american consumers depend on $500 billion of low-cost chinese goods to make ends meet. savings short the u.s. economy need surplus savings from china to help fund its budget deficits, which are going from bad to worse. the idea that america got the upper hand because the chine

. ♪ >> welcome to daybreak yesterday, i am haidi stroud-watts in sydney. >> i am shery ahn in new yorke kamaruddin in hong kong. we are counting down to asia's market open. ♪ haidi biz these other top stories are covering in the next hour, tech, health care and financials lifting u.s. benchmarks to new heights, with optimism that trade tensions mak may is.

i am haidi stroud-watts in sydney. >> i am shery ahn. >> i am sophie kamaruddin in hong kong."daybreak asia." haidi: our top stories this tuesday, shots fired. president trump announces new tariffs on china. they are worth $200 billion and go into effect next week. the news will reverberate through already wary

i am haidi stroud-watts in sydney. ramy: and from new york, i am ramy inocencio. welcome to daybreak asia. haidi: our top stories, china discards talks. trump promising more punishment if beijing response. ramy: the australian and kiwi dollars fell. haidi: a new survey says my chinese companies are hurting. they see growing panic. not really an optimistic set up with trading across asia monday morning despite new highs with the dow on wall street. take a look at what we see. there is a lack of direction, a slew of markets closed, japan, south korea. chinese markets and taiwan are closed on account of the mid autumn holiday. we are seeing sri lanka not trading for a public holiday as well. , newng at australia zealand, earlier declines when it comes to kiwi trading. the a2 milk company seeing declines down 6%. we are also seeing a broad-based selloff with the kiwi dollar and aussie dollar as risk aversion returns in the trade narrative. cindy futures down -- sydney futures down .3% despite finishing strong friday. >> opec has sidesteps trump's demand for lower oil

i am haidi stroud-watts.g markets: asia." ♪ haidi: investors countdown to the new tariffs, also said to be threatening action against japan. asia-pacific markets had for a seventh straight decline in the biggest weekly drop since march. slumped-market stocks as fear of contagion spreads throughout the developing world.

i am haidi stroud-watts in sydney. just an hour over from the open. shery: good evening from new york. i am shery ahn. sophie: i am sophie kamaruddin in hong kong. welcome to "daybreak asia." haidi: our top stories this wednesday, asia-pacific stocks look set for a muted stock. hong kong and philippine markets are the world's worst over the last five days. oil jump in the most since june as hurricane florence hits gasoline markets. it could be one of the biggest storms in history. trading up -- canada seeks to bolster. president trump threatened to quit altogether. shery: breaking news on the bloomberg. south korea's unemployment rate rising to 4.2% in august, the highest level since january 2010. we are expecting it to come in at three point 8%, the level for july, but unexpectedly rising more than expected to 4.2%. the highest level since january of 2010. manufacturing jobs have taken a not torecent months, mention that youth unemployment has hovered around 9% in the last few. also, we are seeing the rise in unemployment wages reducing the odds of t

. ♪ asia,"this is "daybreak i'm haidi stroud-watts. shery: i'm shery chaim in new york. the u.s.asking china to reopen trade talks to avoid escalating the trade war. i asked former u.s. trade representative for his thoughts and ongoing nafta negotiations. thosehave to address issues. the administration is really focused on trying to address them. with regard to nafta, they have reached a temporary agreement with mexico. they are waiting to see what they can bring canada into. there is a process to go through to get that approved by congress. there are still in number of steps. with china, while there has been back and forth with tariffs, it is up to the administration to have a clear vision of how to move the conversation forward. there has been a very good coordination with japan and the eu. china is probably confused as to what the u.s. wants, and what the process is to get there. haidi: we hear the u.s. is seeking negotiations. they have had a round of talks with china, we have seen previous talks. what will it take to get a breakthrough? michael: it depends on what they see i