i'm vonnie quinn.his is bloomberg. ♪ haidi: we will have more on how the taiwan travel and tourism sector is faring amid the pandemic. we talked to silk hotels executive chairman stephen tan. yvonne: plus, more investment insight from the stone conference. sixteenth street capital founder rashmi kwatra joins us next. this is bloomberg. ♪ ♪ haidi: the sohn conference in hong kong has wrapped for another year, one of asia's biggest event spirit sophie kamaruddin is standing by with one of the speakers to discuss her picks. sophie: we are joined by rashmi kwatra, founder of sixteenth street capital, joining us from singapore. adrs jumped nearly 9% on thursday, trading at 246, we saw 280 earlier this year. you are predicting the share price could triple in 3-5 years. which business in the portfolio offers most growth potential -- most growth potential for the company? rashmi: the largest value in the next three years will come from e-commerce shopping, still to be most profitable. sophie: revenues more tha

let's get to vonnie quinn. vonnie: jerome powell has announced a forthcoming report on the u.s. -- he wants the bank to wait a leading role in developing international standards and how do currency it would fit into the u.s. system of banking currently. powell says any currency should replace -- comp might not replace cash. >> this is an important issue. before making any decision on whether how to move forward with this. vonnie: president biden has signed bipartisan legislation to combat anti-asian hate crimes that raised sharply during the pandemic. the bill pays for states to report incidents and wants to help law enforcement with the justice department overseeing the response. another overacted -- overactive a mentor hurricane system, more than 20 main storms could impact the region after a record in 2020. the gulf could see 14 record stores. records last year driven by climate change drove an all-time high of a budget storms that killed more than 400 people. global news 24 hours a day, on air and on bloomb

let's get it over to vonnie quinn in new york. vonnie: thank you.inovac story, china's sinovac has defended the clinical data around its vaccine after an indonesian story founded to be highly effective. indonesian health minister's said that the shot delivered drastic drop in deaths. it is an encouraging sign for developing countries relying on the chinese shots, which were formed -- performed worse then weston vaccines in earlier trials. >> we encourage our partners and governments in countries where our vaccine is being used to release the data as soon as possible. the result from the real-world world and clinical trials will allow the world to judge our vaccine comprehensively. >> white house energy secretary says the colonial pipeline aims to make a decision on wednesday for a full restart. the company says that it is making progress, but gas supplies will be stretched in the short term. >> i have had several conversations with the ceo of colonial, and who has indicated that by close of business tomorrow, colonial will be in a position to make o

i am vonnie quinn. this is bloomberg. shery: breaking news on the bloomberg. we are hearing that kkr has amassed about $18.5 billion for their latest flagship north america private equity fund. that will be raising their biggest ever fund in less than five months. they are citing people familiar with the matter. this is quickly by industry standards and underscores investor demand for private equity funds that promise to outperform the booming stock market. kkr raised about $17 million for kkr north america fund 13 from investors, including sovereign wealth funds. let's turn to the markets with sophie kamaruddin in hong kong. sophie: heads up this tuesday, japan off-line for the golden week break, and chinese markets closed along with thailand this tuesday. ahead of the rba policy decision, no change expected, the aussie dollar holding steady, the forecast along with inflation, it will be washed when it comes to the rba update. we will also be watching for korean inflation data, likely to see a pickup in consumer prices.

on vonnie quinn. cache i am vonnie quinn. -- i am vonnie quinn. this is bloomberg.deral reserve's latest ability report is waving a red flag on the increased vulnerability of asset prices amidst fresh valuations and high corporate indebtedness. kathleen hays is here with a message from the twice yearly report. why is the fed worried about financial instability? kathleen: for the same reason a lot of investors are wondering how long stocks can continue to rally as the fed buys bonds, if the fed keeps rates near zero. this is the kind of concern investors have had for a while. a no-brainer, the board governor is the head of the board's financial stability committee. they put out this report twice a year. here's one of her most important statements, she issued her own statement alongside the fence report. the combination of stretched valuations with high levels of corporate indebtedness bear watching because of a potential to amplify the effects of a repricing event. i guess a repricing event is when people say, may the stock valuations are too high, i better sell some

that's get to vonnie quinn -- let's get to vonnie quinn. vonnie: joe biden ordered u.s. intelligence to increase efforts to determine the origins of the coronavirus. in a statement, he said a report from the intelligence community was divided on whether the virus came from animals or a laboratory. biden said there was not enough information to make a confident assessment. the trial of an australian writer accused of spying in china is set to start thursday. she was arrested in 2019 and could face three years to life in prison. the foreign minister has complained about her treatment. in comments, beijing's industry -- relations have soured since canberra called for an inquiry into the origins of the pandemic. boris is facing a barrage of criticism from his former chief adviser. during seven hours of testimony to mp's, dominic cummings laid out what he said was a disastrous handling of the pandemic. he called him unfit for the job. >> in any sensible, rational government, it is completely crazy that i should have been such a senior position in my personal opinion. it's jus

vonnie: the u.s.sentative has called for updated tariff tools to avoid applying decades-old laws to current issues. responding to a senate finance committee question about the 1962 trade expansion act, which former president donald trump to put duties on steel and aluminum imports. also says u.s. efforts to effectively compete with china hinge on cooperation in congress and globally. >> i think we should work in multilateral ways and forms to compete with china and to compete with china effectively. what we are looking for are trade policies, month to lateral ones -- multilateral want, looking at chinese competition that will have the broad bipartisan support we need. vonnie: china is reportedly considering replacing their top economic envoy to the u.s. the wall street journal says beijing may be mulling another vice premier for the position. he's a close friend of president xi jinping and lead contentious trade negotiations during the trump administration that led to the phase one trade deal. in a se

this is bloomberg. ♪ vonnie: this is "daybreak: asia." i am vonnie quinn. the u.s.we impose sanctions on nine state owned enterprises in belarus. the president says -- and all trading platform. the white house as it was working on penalties tolerating belarus's government after it forced on every on their passenger jet and arrested a journalist critical of the country's president lukashenko. president biden is set to raise human rights when he meets president putin in geneva next month. tensions between the u.s. and russia remain high. the u.s. claims russian-based hackers or cyberattacks in the u.s., though biden as stopped short of accusing the president of the colonial pipeline that. washington is also condemned rush's support of a belarus after the fourth lending of that flight. new data show u.s.: desk fell over the weekend to 362, the lowest in 11 months. bloomberg figures showed the u.s. added slightly more than 12,000 new cases, the fewest since the early days of the pandemic last year. that's one covid-19 i've declined consistently since late february as va

vonnie: the head of the u.s.ays fully vaccinated people can stop wearing masks in but -- in most -- in most settings. the cdc cites growing evidence of the efficacy and protection offered by vaccines. it still recommends masks being worn on planes and public transport and by those not fully vaccinated. >> fully vaccinated can participate in indoor and outdoor activities large or small without wearing a mask or physical distancing. if you are fully vaccinated, you can start doing the things you had stopped doing because of the pandemic. we have all long for this moment. when we can get back to some sense of normalcy. vonnie: the philippines is using virus curves in its capitals. an allowable shift to the second low of -- second tier of restrictions. the philippines suffered a worse than expected economic contraction last quarter. u.k. prime minister boris johnson says he is anxious about the spread of a covid-19 variant from india. fresh data showcases data showcases of the strain more than doubled the past week.

vonnie: u.s. trade representative -- katherine tai was responding to a finance committee question about the trade expansion act which former president trump used to put subsidies -- tariffs on imports. the largest gasoline pipeline and america is back in service after a massive ransomware attack. colonial pipeline was forced to take systems off-line and choking supplies across eastern parts of the u.s. it will take about two weeks were full-service to be restored. the average price for gasoline top three dollars a gallon for the first time in more than six years. global news, 24 hours a day on air and on bloomberg quicktake powered by more than 2700 journalists and analysts in more than 120 countries. i am vonnie quinn, this is bloomberg. yvonne: still ahead on bloomberg markets: asia, exclusive for the ceo of new zealand based company . he joins us to discuss business sentiment during the pandemic. tom: next, we dig deeper into the inflation debate and what it means for asian economies. this is b

let's get you to vonnie quinn. vonnie: thanks.ng his nearly $175 billion ev proposal that seeks to transform the energy. -- industry. he visited a ford plant to get a sneak peek at one vehicle. ford says the truck will be a turning point in the electric vehicle revolution, as the u.s. takes on china in the race to the global market. >> the future of the automobile industry is electric. there is no turning back. the american automobile industry is at a crossroads. the real question is whether we will lead or fall behind in the race to the future. vonnie: overall, covid-19 cases in the u.s. are going down, but when it comes to a rare inflammation in children, the cdc says 3500 cases of the inflammatory syndrome has been diagnosed and kick since early in the pandemic, and the real number may be higher. large parts of india struggle against the rise in covid cases, the financial center of mumbai reporting fewer casualties. it has reported just under 2800 deaths since the second wave began march 1. that is one quarter of more than 10,0

first word news, vonnie quinn in new york.nie: spacex finally sticking the landing on the fifth test flight of a starship prototype. launch and a touchdown marks a new milestone to send humor -- spacex facility in texas reaching an altitude of 10 kilometers before it's controlled dissents. top g7 diplomats have singled out china and a final communique after two days of talks. the statement called on beijing to participate constructively. the human rights abuses, and supporting taiwan's involvement in the world health the g7 leaders meet next month and united kingdom. moderna says early result from a mid-stage trial show its covid-19 booster shot get positive results against new variants, those that emerge in south africa and brazil. one of the boosters is an additional low dose of the existing vaccine while the other is customized. the drugmaker says it is worried about newer variants emerging from india. >> just as the data is going to be coming out, we are also seeing strains in india that seem even more ominous than the sou

i am vonnie quinn.omberg. >> still ahead, our guest joins us to look over chinese tech earnings, with a focus on tencent. also, data indicates mrna vaccines are better at stopping people from becoming contagious. we will explore. this is bloomberg. ♪ >> the commodities complex crumbling, oil, soybeans, following an increase of 80%, coming after a super cycle call from goldman sachs and citigroup. let's welcome our guest. is this a case of too fast, too far, and this is a short-term correction? her the commodity still intact? >> you have to parse things out into two parts. if you look at what happened overnight, easy money conditions, the taper in the u.s., the world second main pillar of commodities demand, that is compounding worries over a tougher demand environment for raw materials. in china, they are closer to the end of this rapid pace in economic expansion, and credit expansion, so china was already starting to get closer to the peak of that cycle. you have authorities in china trying to jawbone

. ♪ vonnie: this is bloomberg. european union looking to enforce further sanctions on belarus after the forced landing of a ryanair jet with an opposition journalist on board. the bloc will close its airspace to belarus, something that u.k. did on tuesday. they will target whole sectors of the economy while calling for the immediate release of the detained journalist. president biden welcomes the response. the first meeting between president biden and vladimir putin is excited to take place june 16 in switzerland. the white house says the leaders will discuss a full range of pressing issues as the u.s. seeks to restore stability to the u.s.-russian relationship. the kremlin says the two will discuss topics including the pandemic. u.s. secretary of state antony blinken kicked off the middle east diplomatic mission with reconstruction efforts in gaza, while reaffirming support for israel's right to defend itself. blinken revealed the u.s. will provide $75 million in new palestinian aid this year as well as immediate

i am vonnie quinn. this is bloomberg.hery: look at big win falling after a tweet from elon musk saying tesla as suspended vehicle purchases using bitcoin. our american markets editor joins us with more on this. steve, what prompted this tweet on the environmental impact by bitcoin -- of bitcoin by elon musk. $1.5 billion in bitcoin earlier this year. >> that is the big mystery. everyone who knows musk and tesla knows they are an alternative energy company basically and he certainly had to be aware of the energy usage for a very long time if not forever so it is puzzling even among industry insiders who have been very vocal about justifying the energy needs of tesla. haidi: you can to be on either side of that debate, but the facts have been out there for a while. the energy associated with mining don't would extend to other crypto currencies as well, so i am wondering how much of this takes away from the institutional appeal or gloss that bitcoin and other crypto have attracted over the past few months, given that a 4% pu

vonnie: thanks and good morning. the world economic forum has canceled the annual meeting it was planning for singapore in august. the spike of infections there and an uncertain global travel outlook. earlier, singapore and hong kong once again delayed a travel bubble that was set to begin may 26. a spike in more transmissible cases has halted hong kong who added singapore to its list. more virus restrictions have been lifted and the u.k., as it takes the next step out of lockdown. prime minister boris johnson is concerned the highly transmissible virus strain could lead to a surge in infections. the government is accelerating the vaccine rollout, down to ages 35 and older this week. . johnson facing pressure from the party. bloomberg has learned italy plans to stage out a national curfew in a push to open its rate -- its economy. the prime minister agreed to remove the curfew june 21, if infections keep declining. we are told his cabinet approved speeding of the timeline for reopening businesses, including james and

first word news with vonnie quinn in new york. hey. vonnie: thanks. the european union agreed to new sanctions on belarus after the fourth version of orion or passenger jet and the arrest of a journalist on board. these include banning airlines from airspace and airports. further sanctions targeting lukashenko and his associates are also being imposed. russia is backing its allies following belarus's explanation of it actions. >> this outrageous behavior needs a strong answer. therefore, the european council decided that there will be an additional sanctions on individuals that are involved in the hijacking but this time also on businesses and economic entities that are financing this regime. vonnie: international efforts at reviving the nuclear accord are intensifying. president xi jinping told hassan rouhani in a phone call that -- nuclear issues. antony blinken said a deal is a priority. iran agreed to extend an agreement by one month, for continued surveillance of its installations. china is pushing back against a wall street journal report. the p

i am vonnie quinn. this is bloomberg. ♪ haslinda: still ahead on "bloomberg markets: asia," whether the goal of zero cases is the right strategy. we talk about policy with the coalition for epidemic preparedness innovation. yvonne: looking to rake the depreciation cycle of a currency. more on that next. this is bloomberg. ♪ ♪ yvonne: the yen relentless rally this week, strongest level since march 2016 on the back of trading partners and raising expectations that it has levels last seen before a stock valuations. let's talk about the direction of the renminbi. we got the warning shot from the pboc yesterday. what is the messaging? >> that was a rare statement from the pboc. they had a meeting with the fx market participants and others to talk about valuations one way on the yuan are not condoned by the central bank. also, importantly, they were saying currency will be used to offset the impact of inflation, but it also won't be weakened to boost exports. so this is very much a two way currency market. an

vonnie: the u.s. congress has passed legislation aimed at combating hate crimes against asian americans and pacific islanders. the house sends the bill to president biden, who says he will sign it. it will expedite federal reviews of hate crimes. attacks against asian americans has been rising amid the pandemic. global news 24 hours a day on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm vonnie quinn. this is bloomberg. haidi: still ahead, james hardie industries ceo jack truong joins us later in the show. investors are still unhappy with the forecast. next, we are going to be hearing from south korea on the debate on whether the country's women should be subject to military military service. this is bloomberg. ♪ ♪ shery: taking a look at u.s. retailers, walmart shares jumped after posting strong quarterly sales growth and boosting profit outlook. impressive given it faced tough comparatives with last year. home depot showed continued

let's not get to vonnie quinn. -- let's now get to vonnie quinn with the first word headlines. first word headlines. president biden says there is no evidence russia is involved in the ransomware attack has a bold the colonial fuel pipeline, but the president says the perpetrators may be based in russia, so moscow bears some responsibility. colonial says it expects the pipeline to be viable again by week's, but the shutdown is prompting frenzied moves by traders and retailers to secure alternative supply. >> over the weekend at my direction, the department of transportation issued an emergency order to loosen restrictions on truck drivers in order to allow more fuel to be transported by tanker. we are prepared to take additional steps, depending on how quickly the company is able to bring its pipeline back to full operational capacity. shery: sources tell us the u.s. is planning a summit with companies impacted by the global chip shortage, including intel, samsung, and amazon. commerce secretary will convene the meeting may 20 to discuss ways to bring together chip suppliers an

vonnie: thank you, sherry. the interception of an airplane flying from athens by belarus is military. violation of travel protocols led to the plane enforce to land in. local authorities boarded and arrested a journalist. before the flight was allowed to eventually resume. toronto's likely to temporarily extend the nuclear agreement expired over the weekend. a rainy and state tv -- iranian state tv reports washington's return to an abandoned 2015 nuclear record, and removal of trump era sanction within 30 days. antony blinken told the u.n. the u.s. was prepared to return to the original deal. an egyptian court has rejected an appeal to allow the giant container vessel to block the suez canal to leave the country. they're claiming more than $900 million in damages from the japanese owners from the ever given, which was stuck in the canal for six days in march, wreaking havoc on global shipping. the demand is inflated. another hearing is set for mates tonight. taiwan saw a steady increase in covid-19 cases over t

i'm vonnie quinn. this is bloomberg. david: coming up, an exclusive interview from the chamber of commerce in china. that's about 30 minutes from now. monday saw the widest discrepancy with market expectations. will beijing send a stronger signal? and futures are pointing down, shanghai, shenzhen and hong kong just a couple of minutes away. this is "bloomberg markets: china open." good morning. ♪ >> copper is the new oil. it strategically the most important commodity because if you're going to electrify the world, copper conducts electricity better than any other element. >> up 27%, an amazing stat for the year. >> we've seen a sharp price -- rise in prices. people are not concerned about the future. >> the market needs a new catalyst to keep that momentum going. i'd be slightly concerned as we move through the summer months that we need to see this momentum keep going. >> it takes many years to build new capacity. you can't just depend on tax to increase demand. that something the world is going to have to get used to.

i am vonnie quinn. this is bloomberg. ♪ haslinda: still ahead on bloomberg markets: asia, i will look at crypto trading in china and we will speak with, the sean founder, justin sun. rishaad: and talking with propertyguru ceo hari krishnan about the company's plan to acquire rea group. this is bloomberg. ♪ >> welcome back. singapore real estate startup propertyguru has agreed to acquire all the shares in australia's rea group operating entities in malaysia as well as thailand. it is a majority owned by rupert murdoch's news core empire. for more on the deal, we are joined by hari krishnan. good to have you with us. is this about expanding the business before the expected ipo or spac? hair: thank you for having me. we are delighted to announce the acquisition of assets from rea group. we have looked at this as a way to invest in very attractive assets in that part of the world. these are truly transformative to the group and we are very excited about the prospects they bring to our group. haslinda: how i

vonnie: the head for the u.s. says fully vaccinated people can stop wearing masks in most settings, indoors and outdoors. it is the most significant shift in federal guidelines since the start of the pandemic. the cdc cites global -- growing evidence of the protection offered by vaccines. it recommends masks be worn on planes and public transport and by those not fully vaccinated. the european union is accusing russia of gradually trying to take over parts of eastern ukraine. in a document, they shared with member states, the eu says kremlin tactics include organizing illegitimate elections and issuing passports to locals. russia has repeatedly denied such claims and on thursday, the kremlin said it isn't planning to absorb anyone. boris johnson says he is anxious about the threat of a coven -- covid variant from india. the new strain doubled in the u.k. and johnson says the country prepares to move to stage three of a reopening plan. starting next week, people are supposed to be able to meet indoors, at homes, pu

on vonnie quinn. this is bloomberg.s closer to rolling out the first sovereign currency, speculation has reached fever pitch. let's cross over to our shanghai bureau chief. charlie, i guess some are glad to see it not having an impact so far? >> you're right. people are not hugely interested at the moment based on our reporting, people -- participants of the trial currently in the seven city of shenzhen were interviewed and showed little interest. there is a lot of reason for that such as views of we chat payments, the apps that currently account for the majority of the country's payment system. there are also concerns about privacy issues. they are afraid the government might use that to do surveillance on them. for business, that is also a problem because they don't want the government to monitor their performance. because they are in competition with state owned enterprises in the country. haidi: is that lack of trust something that could be a problem for progress being made in the digital currency? >> yeah, the pboc

i'm vonnie quinn.omberg. sheri: markets are avoiding api data coming up with prices expected to accelerate in april. we will discuss with our next guest, global head of strategy. it always -- it's always great to have you with us. charts on the bloomberg are showing that the five year break has talked -- topped the 2008 hi and now the 2006 high. some said back in march when we saw the spike in yields that perhaps it was a little bit overdone. but so much has happened in the past five weeks, including supply change disruptions and commodity prices as well. >> exactly. i think you hit the nail on the head. it is all about inflation expectations which makes tomorrow's data extremely important. we may start to talk about fedex a bit. but what we are hearing from the fed is that they also expect this pickup in inflation largely driven by reopening demand supply change disruptions. they don't want to extrapolate from tomorrow's number, but the market is forward-looking, right? they will look at good inflatio

let's get over to vonnie quinn for a check on the first word headlines. vonnie: the u.s. has joined other world powers. antony blinken spoke with his egyptian counterpart. as divine also reaffirmed israel's right to defend itself -- president biden also reaffirmed israel's right to defend itself. singapore has tightened lockdown measures as it attempts to stop new cases. most schools were closed from wednesday with most children returning to remote learning. the ministry of education says it was necessary. taiwan says it is racing to contain the worst outbreak of coronavirus all trying to avoid a full lockdown that could derail the largely successful ente covid measures. the country reported 206 new local cases on sunday. authorities put the capital into a soft lockdown racing to stop the outbreak. south africa is expanding the covid-19 vaccine rollout to health care workers and those over 60. the government will begin a mass vaccination effort at 87 sites across the country using pfizer's vaccine looking to inoculate more than 5 million senior citizens by the end of june

i am vonnie quinn.berg. >> still ahead, assessing the outlook for bad debts manager with the current head of aipac. coming up next, the latest on the covert outbreak in taiwan and the impact is having on the chip industry. this is bloomberg. ♪ ♪ ♪ >> the coronavirus outbreak in taiwan is sharply in focus as new infections threaten and could squeeze already squeezed global chip suppliers. joining us now is debbie ruth. what is going on when it comes to the vaccine situation, supply of vaccine, and how that is threatening to potentially even worsen chip supply? >> partly, it is the lack of vaccines available in taiwan, only about 1% with vaccinated so far, and the government is still waiting for companies, and the problem here is that we have seen more cases of local transmitted, and reporting the a stafford contracted the virus over the weekend. but chip production in taiwan has not been disrupted so far. the u.s. does not supply or try to supply with more vaccines, this could be leading to a logistical

. ♪ vonnie: this is daybreak: asia. i'm vonnie quinn with the first word headlines.ury secretary janet yellen clarified she was not recommending interest rate increases when discussing the impact of fiscal spending. she also said she does not anticipate persistent higher inflation. she set off a few hiccups in financial markets after saying in an interview the biden administration spending may trigger a rise in interest rates. >> it may be that interest rates will have to rise somewhat to make sure that our economy does not overheat even though the additional spending is relatively small relative to the size of the economy, so it could cause some very modest increases in interest rates to get that reallocation. vonnie: president joe biden says he hopes and expects to meet with the russian president vladimir putin during his visit to europe next month. the president is working on scheduling a meeting. biden proposed a meeting in a third country. biden is set to travel in june to the u.k. and belgium. the u.k. prime minister boris johnson says a new era has begun in u.

i'm vonnie quinn. this is bloomberg. >> coming up, currency volatility and the impact on corporate earnings. ♪ >> the real battlegrounds may be in currency. indices raising their all-time highs in february before retreating slightly with em currencies at a crucial level. this might just be the month to pay attention to foreign exchanges. our next guest says the negative currency impact on corporate earnings fell the last quarter. could this be the calm before the storm? >> i think it was in q4 and we are going to see q1 faced serious hits from corporate earnings. investors need to take that as an indication about what is going on with corporations from a risk management perspective as well as from a liquidity management. you have seen dollar strength. you have seen discussions about how people think the dollar is going to go significant higher. you have others talking about them going significant lower. i don't know how to predict whether it is going to go up and down. all that means over many years of

i am vonnie quinn.he vaccination rate in hong kong is lagging other financial hubs like singapore and new york despite relatively few cases. that could erode the city's competitiveness and permanently change the course of its future. bloomberg's annabelle droulers reports. ♪ >> fewer than 15% of people have had their covid shots in hong kong, and that has the business community worried. >> other areas of the asia-pacific region, including singapore, are moving ahead. >> hong kong can fall behind if it doesn't do that. >> quarantine measures are among the strictest in the world, which is a major issue for ex-pats, who have gone months, even years without seeing loved ones. >> it becomes a factor in mood. it starts to make people wonder if they are going to be stuck here and whether it is actually worth it. >> relocation agency asian tigers, is recording fewer international arrivals. >> we are 60% down on the number of inbounds. that is very dramatic. . >> prompting calls for more guidance from the govern

i am vonnie quinn.his is bloomberg. shery: still ahead, the u.s. secretary of commerce is pledging to do all that is necessary to protect american industry. our interview with gina raimundo's next. don't miss two more interviews. we will hear from salesforce. this is bloomberg. ♪ ♪ haidi: u.s. commerce secretary gina raimondo says the u.s. could build six or seven semiconductor plans to help combat the global chip shortage. she spoke with bloomberg technology anchor emily chang. >> it's an economic security problem, and national security problem, and i have to say thank you to everyone that we have been engaged with. they have been great partners. and this will require public-private partnership. we can't do it -- government can't fix this problem alone. the private sector needs to be there and i think they will be. emily: gm announced it is restarting production at several plants that had been idled. meantime you had covid cases rising at taiwan, the heart of the semiconductor industry. will that impac

i'm vonnie quinn. this is bloomberg.i: we do have another alert on the bloomberg, watching into the start of trading in sydney. a merger to create two independent exclusive companies announced, saying the demerger when it comes to endeavor is preferable to all other options being considered. it will happen by distribution of endeavor shares and eligible shareholders will receive one endeavor share for every shell hurled thing -- shareholding woolworths group. they plan to spin off the drinks and hospitality business of endeavor in june. bloomberg intelligence suggesting that could offer significant re-rating opportunities given we have seen the likes of others go through the same kind of model. we will get you more details on that of course as the story develops. kathleen: busy, busy, busy as the asian trading week gets underway. another big story. more than half a million people in the u.s. have officially died from covert. however, president biden's top medical advisor anthony fauci says the true toll is probably highe

i am vonnie quinn, this is bloomberg. haslinda: taking a look at markets.ems like the bulls are showing up green across the board in asia. those gains overnight in the u.s. which posted the best day and about two weeks. the csi index up by about 3/10 of 1% as we await the traded data and by the way, the focus today on u.s. jobs report and another million jobs may have been added. taking a look at the commodity space. the bloomberg commodity index higher yet for another day. china has had a record all of commodities. copper at the highest on record. some of the stocks we are watching, sydney airport as australia says its international borders may not completely open until the second half of next year. we have sydney airport down by one third of 1%. ocbc trading in q1, be expectations. an insurance coming up by about 1%. let's take a look at the state of china's economic recovery as we await the latest trade data from china. joining us is the chief greater china economist at one securities firm. we have to bear in mind the base of fact, right? helen: yes, abs

i am vonnie quinn.is bloomberg. ♪ shery: top diplomats from g-7 nations laid out a laundry list of concerns that will get under china's skin. they called out alleged human rights abuses, beijing actions on taiwan and incursions in cyberspace. markets coanchor tom kenzie joins us from aging. sounds like china was a central focus of the g7 communique? tom: foreign ministers also took a shot at russia, that was a big part of the statement as well, what they called an attempt to undermine democracy with the treatment of opposition leader alexi navalny, anti-putin later alexei navalny. but china was a major focus of the g7 leaders in the communique. what they called on china to do was participate constructively in a rules-based international system. but it was the specificity of the communique on issues like human rights abuses that will come as you say, likely ire beijing. we are still waiting for the response the communique called out human rights abuses as they characterize them in to bet and another plac

i'm vonnie quin. this is bloomberg. haslinda: still ahead, we focus on equality with the managing director monitoring the indian economy. they discuss the consequences of india's recent spike in unemployment. yvonne: what is next for taiwan's markets? we talk about the outlook with ally chen. this is bloomberg. ♪ haslinda: the u.s. dollar nearly six-year lows, traders are putting more momentum into the chinese currency. david ingles has been having a look at the activity. we saw the strongest vix in three years today. david: that opened up gates to the price action in the last 30 minutes or so. looking at options and volumes. i know you are talking taiwan. but there will also be a dollar on shore. average volume, this is what they are getting. you look at consumption on the bloomberg, you want to pay attention to how pronounced the volume is in the options market. when you get into this, you are looking at strikes at about 630, most pronounced. it indicates where they are going, and the bullish bets. despite the fact it

let's get to vonnie quinn.union has agreed to new sanctions on belarus after the forced diversion of a ryanair as in georgette and the rest of a journalist on board. they include banning its airlines from the airspace of the block and airports. further sanctions targeting the president and his associates are being imposed. russia though backing its ally calling the belarusian explanation of its actions reasonable. international efforts at reviving iran's nuclear accord are intensifying. chinese state media says the chinese president supports reasonable demands on nuclear issues. antony blinken has said a -- has said the priority is a deal. meanwhile, iran has agreed to extend u.n. iaea's agreement. president biden is sending antony blinken to the middle east to firm up the cease-fire between israel and palestine. in a statement, president biden said the visit would reinforce ironclad ties with israel and rebuild relations with palestinians after years of neglect. china is pushing back against a wall street jour

i'm vonnie quinn. this is bloomberg. haidi: still ahead, funds are flowing out of asia and into north america and europe. we will discuss with the director of research. plus, japan is due out to report first quarter gdp data. the numbers are expected to show a contraction again. this is bloomberg. ♪ haidi: we are getting more reports out about these proposed talks in the deal being made between amazon and mgm. this is a film studio arm of the mgm empire. we are hearing from roof -- from variety saying amazon is said to have made a $9 billion offer. we heard earlier that amazon is in talks to acquire metro-goldwyn-mayer, the film company behind the likes of the pink panther and the james bond enterprises. we are looking at this report, a number being assigned to this deal being offered. $9 billion in the offer made according to variety. amazon along with a number of these other streaming and content companies looking at acquiring more content as they continue to develop your we heard last -- to develop. we heard last year

. ♪ vonnie: this is "daybreak: asia." i am. -- vonnie quinn. group issued a list of grievances including over taiwan and beijing's treatment of uighurs. the chinese foreign ministry urged western nations to stop interfering in other country's national effect -- national affairs. beijing halted an economic dialogue with camera and blasted new zealand over accusations of human rights abuses. the u.s. is boosting security assistance to ukraine to help counter what it calls russia's aggressive and destabilizing actions. secretary of state's's antony blinken met with ukraine president and called on moscow to end attempts to force troops to ukraine's border. blinken says the tripped served as a u.s. commitment to its partnership with ukraine. the pentagon says the fall of the u.s.-backed government is in place in afghanistan and it is now inevitable when american stroop -- american troops withdraw. while a resurgence to the taliban is not a foregone conclusion, the u.s. is looking at ways to continue training forces in third country locations. presid

let's find out more as we get over to vonnie quinn in new york. vonnie: the u.k.etary says the government is monitoring the highly transmissible virus variant that originated in india, while moving forward with the next stage of reopening starting monday. he warned the variant could spread like wildfire and urged people to get back tended. prime minister boris johnson earlier said it could jeopardize the risk of opening up all pandemic restrictions planned for june 21. india is bracing for a cyclone to hit its western coast tuesday, forcing authorities to begin evacuation preparations in parts of the country that are overwhelmed by the second wave of the coronavirus. the cyclone is expected to make landfall with wind speeds touching 175 kilometers per hour. india's prime minister told officials to ensure essential services, including power and drinking water. microsoft has confirmed it investigated bill gates over allegations the company's co-founder tried to start early monday -- start a remained tick relationship with a female employee. gates stepped down before

i am vonnie quinn. this is bloomberg.ins us to discuss china supply chain and logistic outlooks. up next, the heads of six of the biggest banks keep their in the face of another grilling from lawmakers. the details i had. -- ahead. this is bloomberg. ♪ shery: wall street ceos kept their cool in the face of pointed questions for mel's committee lawmakers on thursday discussing everything from overdraft penalties to try to's increasing economic dominance to the challenges facing the financial industry. >> what do you see as the greatest threat to our financial system right now? enter your company as well? >> public policy not being properly executed in the united states of america, which means not being able to take leadership roles. >> ok, what does that mean exactly? >> i think we have done public policy not particularly well. infrastructure, integration, health care, taxation, we have stifled the formation of small business. if we do not get our academic act together we will not be a leader in 20 years. >> mr. gorman. sh

we have vonnie quinn in new york. >> president biden has ordered u.s. intelligence to increase efforts to determine the origin of covid-19. he said a report from the intelligence community was divided on whether the virus came from animals or a laboratory. biden says there was not enough information to make an assessment. china says it supports an examination into all early covid cases around the world. beijing's foreign ministry posted on its website that the code must be complete, transparent, and based on facts and should include secret bases and biological labs, but did not elaborate. victoria is entering a seven-day lockdown as a cluster of cases continue to grow. the capital has been bracing for such a move from the state government. health officials have warned infected people have been to dozens of venues in the city. prior to the lockdown, the state had made masks mandatory and imposed limits on gatherings. the taiwanese president says intervention from china blocked an almost done deal with biontech for vaccines. they say the island only deals

for now, let's get over to vonnie quinn.nie: [indiscernible] janet yellen clarifying she was neither predicting nor recommending interest rate increases. she also said she does not anticipate higher inflation. earlier, she set off pickups and financial markets after saying in an interview that the biden administration's spending may trigger a rise in interest rates. >> it may be that interest rates will have to rise somewhat to make sure that our economy doesn't overheat, even though the additional spending is relatively small relative to the size of the economy. it could cause some very modest increases in interest rates to get that reallocation. haslinda: benjamin netanyahu has missed the deadline to form a new government. his failure raises the possibility that his party could be pushed into the opposition for the first time in 12 years. netanyahu has struggled to secure a parliamentary majority since march 23 when elections ended in deadlock, that was for the fourth consecutive time in the past two years. boris johnson s

i am vonnie quinn. this is bloomberg. haslinda: still ahead, japan's economic recovery stalls, new restrictions to contain the coronavirus. we discussed the major data and outlook with fujitsu. yvonne: up next, as covid infections surge in taiwan, we speak to the official at the forefront of the islands response last year and sars back in 2003. this is bloomberg. ♪ yvonne: taiwan was a global success story during the pandemic, but now it faces hundreds of untraceable infections. take a look at this chart. more than 300 cases yesterday, record numbers. let's bring in our guest, the former vice president who also served as the health minister during the sars crisis, he was tasked with managing and performing the response. a pleasure to have you on the program. we mentioned about taiwan being one of those success stories to balla covid up until now. tell us what you think went wrong here. guest: i think this time with a highly infectious virus and variant. at the very beginning the virus spread from other countries to taiwan

i am vonnie quinn. this is bloomberg. haslinda: still ahead on bloomberg markets asia, women take a giant step closer to the top spot at j.p. morgan. more on that story, later this hour. rishaad: next, moody's bringing its ratings on airlines from negative to positive. we speak to the senior vice president just ahead. this is bloomberg. ♪ rishaad: some positive news for the airline industry, moody's revising its outlook for the global airline industry to positive from negative. that reflecting the ratings agencies views that the industry will improve over the next 12 to 18 months with vaccinations set to drive strong growth and travel demand into 2023. moody's had a negative outlook on the sector since march of last year. joining us from new york is the investors services senior vp. thank you so much for joining us. some better news, and perhaps light at the end of the tunnel for one of the hardest hit industry groups in the world. guest: that's correct, that is how we see it. we did make the change. our outlook is 12 to

vonnie: a senior i one official says the u.s.ng more vaccines could help with its critical semiconductor shortage. taiwan has infections centered around taipei, but most semiconductor companies are located south of the capital. eu negotiators agree on the exception of mutually-recognizable vaccination passes that will allow free travel in the block. they will be issued free in digital or paper format. the new system should be up and running by june, subject to formal approval. global news, 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i am vonnie quinn. this is bloomberg. ♪ shery: let's turn to the south korea-u.s. summit scheduled friday. president moon jae-in is the second foreign leader to visit the white house under president biden. let's preview the meeting in the geopolitical situation in north asia with harry harris, former u.s. ambassador to the republic of korea who served under president trump, also a retired admiral in the u.s. navy. am

haslinda: let's get to first word news with vonnie quinn in new york.nie: president joe biden has opened the possibility as a way forward for a vision for a better america. breaking proposals into multiple bills. republicans are not on board. the biden american families plan the calls for tax increases on the wealthy. there is support for some parts of his. infrastructure focused jobs plan biden says he sees bipartisan support but corporations need to do their part. president biden: i'm not anticorporate but is about time they start making their fair choice. it is about making a choice. you have 50 corporations making $40 billion and did not pay a single penny in taxes. not a single penny. i'm not punishing anybody. everybody should ship in. everybody should pay something -- everybody should chip in. >> the united kingdom pushed back what they called russian violations of the global order. the crackdown on leaders in singeing province -- the russ ian opposition figure alexei navalny. the u.s. secretary of state and the u.k. foreign secretary said he uni

now vonnie quinn with the first word headlines. vonnie: the u.s. committee says it is confident current safety measures will allow team usa to compete safely at the tokyo olympics. the state department issued an advisory urging americans not to travel to japan over virus concerned. tokyo with other prefectures under a state of emergency with two months to the start of the games. in thailand health officials increased the length of time between the first and second dose of the astrazeneca vaccine from 10 weeks to six weeks to allow more shots for more people as the kingdom reels with its biggest front buyers outbreak. dutch biggest coronavirus outbreak. singapore -- singapore says the airport will separate staff handling incoming and outgoing travelers into zones. new measures are set to take effect by june 13. at an airport, a virus cluster group 2108 cases -- to 108 cases as of sunday. new york mayor de blasio says students will return to school buildings in september at a remote option will not be available. he says reopening the largest school s

vonnie: the u.s. joined e.u. nations in condemning the interception of a brand airplane cleared the plane was forced to land in mesa. local authorities arrested a journalist who had covered protests against belarussian president alexander lukashenko. the flight was eventually allowed to resume. japan is said to plan an extension of its coronavirus state emergency. the measure is set to expire on may 31. it will be extended in nine territories, including tokyo and osaka. it could be extended as far as june 20. the government will officially decide on the date this week. the tokyo olympics are set to open on july 23. day one saw a steady increase in covid cases this weekend, with health authorities confirmin over 3000 cases. it is sparking questions over the government czechia ability to ramp up testing. global news, 24 hours a day, on air and on bloomberg quicktake, powered by over 2700 journalists and analysts in more than 120 countries. i am vonnie quinn. this is bloomberg. rishaad: this divergence between the e

i'm vonnie quinn. this is bloomberg. ♪ haidi: top diplomats from g-7 nations have made a laundry list of concern that will get under china's skin in their latest comedic a. they call that human rights abuses, beijing actions on taiwan, and our government reporter emily wilkins joins us. emily, how does this potentially set the tone for next month when global leaders meet? emily: this plays into what president biden has wanted to happen. president biden's idea is that the u.s. can team up with its allies and more effectively pressure china to end some of these human rights abuses, as well as keep the u.s. stance as a global superpower. so this really does set the tone or president biden next week, and there is a continuous push into building relationships with allies and putting pressure. . on china shery: also -- pressure on china. shery: also big news today that the u.s. will support waving intellectual property rights for the covid vaccine. this seems to be a huge change from a few days ago when they