i'm vonnie quinn. this is bloomberg.di: prices of rare earth minerals have been surging with additional pressure from the war on ukraine. we are discussing that and its impact on supply with lynas. this is bloomberg. ♪ shery: the presidential election in south korea could reshape the energy strategy with candidates having different views on decarbonization. let's ring in a research specialist. what are the main energy and climate change policy differences among the leading candidates? david: the leading candidates both agree on achieving net zero emissions in the long term, but there are different ways. the democratic party wants solar and wind speed to be the main drivers of decarbonization and transition to the 2035 target. the main opposition party wants nuclear power to be the main driver of decarbonization and support transition slower that would lower impact on car prices. he could revise down the 2035 target -- the 2035 target. haidi: the candidates compared to the current government? david: in 2017 one of the mai

here is the first word news with vonnie quinn. david: u.s. intelligence -- vonnie quinn: u.s. intelligence seems to think so. according to the white house, advisors are said to be afraid to tell him the truth about the military and the effect of sanctions on his economy. russia will list a shortselling ban on local stocks thursday. the bank of russia also says equities trading hours will be expanded. restrictions on the trading and securities by foreigners remain in place richmond fed president thomas barkan says he is open to a 50 point rate hike in may. he think interest rates may have to go above neutral to bring down u.s. inflation which set the highest level in four decades. >> i am open to it. i think the question and will make this decision when we get to the meeting in may is how strong this economy looks in terms of its ability to take rate increases and how high is inflation persisting? we will make our call in may. vonnie: china's trial of a journalist. australian media reports the court proceedings will start at 9:00 a.m. beijing time should prosecutors will argue

let's get to vonnie quinn with the first word headlines. vonnie: the united states says it has sanctioned entities and individuals for aiding the development of north korea's missile program. u.s. is targeting five organizations and persons located in north korea and russia as well as one in china. pyongyang has been ramping up activity at key sites since january. a chinese foreign minister has set with the taliban leaders in afghanistan and his first visit since the group seized power last year. the taliban says improving bilateral trade were on the agenda for talks beijing has embraced the taliban's return to power. searchers at the chinese crash site have found more than 180 pieces of wreckage. officials say at least one piece was found 10 kilometers away suggesting a may have broken loose before impacted all 132 people on the doored -- on board are presumed dead. nearly half of the european companies in hong kong are planning to exit the city according to a survey from the local european chamber of commerce which found 25% of responding

let's get to vonnie quinn with the first word headlines. : federal reserve chair jerome powell is making the fight against flesh his priority over the risk from russia's invasion of ukraine. he backed a 25 basis point hike later this month, adding a bigger or more persistent rate hike path would be warranted if inflation stays high. >> i do think it will be appropriate to range our target rate of the march meeting in a couple of weeks. i'm inclined to propose and support at 25 basis point hike. to the extent that inflation comes in higher or is more persistently high, we would be prepared to move more aggressively by moving the federal funds rate by more than 25 basis points. vonnie: opec and allies have agreed to a modest revival and supplies for april, they increased output by another 40,000 barrels a day, continuing the gradual restoration of supply during the demo. the meeting was overshadowed by architect amazed by the russian invasion of ukraine. the issue was not heavily addressed. eurozone inflation has hit a record just as russia's

let's get to the first word news with vonnie quinn in new york? ie: china's economy started the first two months of the year on strong footing even as risks from the war in ukraine increasing the cloud the outlook. data shows industrial output rose 7.5% in february compared to 4% in december. meanwhile, retail sales grew, and investment also claimed. the figures all beat economist'' expectations. the lme will reopen on wednesday at more than a week after it canceled trading, after chinese tycoon xiang guangda's short position world markets last week. trading will resume at 8:00 a.m. london time. the u.s. and china held what the white house is calling "a substantial discussion on the war in ukraine." in a meeting that lasted six hours, the u.s. national security adviser jake sullivan and the the chinese top diplomat discussed ukraine and north korea. however no specific outcomes were announced by the white house india says it is leaving all options open to see how much oil it can import from russia or from new suppliers returning to the market. that

. >> let's get you to vonnie quinn with first word headlines. vonnie: the u.k. government has announced sanctions on seven russian individuals in retaliation for vladimir putin's -- invasion of ukraine. they face a full asset freeze and travel ban and will be prohibited from transacting. the move effectively derails plans to try to sell the football club. the ecb president is seeking to phase out dependence on fossil fuels by 2027. russia is the eu's biggest supplier of natural gas oil and coal. the u.s. is preparing new penalties against north korea after determining that the regime of kim jong-un used ecb technology. it would further block the purchase of foreign technology. the u.s. is also ordering increased surveillance in the yellow sea. the indian prime minister ruling party swept comfortable when -- win signaling that voters still trust him in the wake of the pandemic. the polls showed the incumbent one with a wide margin. for other states are electing legislators. global news 24 hours a day on air and on bloomberg quicktake. powered by more than 2700 jo

let's go to new york and get the news with vonnie quinn. vonnie: the u.s. european allies are expected to announce new measures against russia during president biden's visit to brussels. the national security advisor said along with sanctions, they will have new efforts to track down on invasion. white and will attend the nato summit, a g-7 meeting and a session of the european council. russian opposition is calling on people to oppose putin after navalny was sentenced to nine years for alleged fraud. and content of court. they said the best action against workman owes in prudence regime is not something. this adds to the years he is serving. the myanmar government -- they said the remarks were politically motivated. the u.s. determined that myanmar killed more than 9000 people of an ethnic group and forced 800,002 fleet in 2016 and 2017. mckenzie scott has donated to habitat for humanity. the biggest known gift today for the length of posco the former wife of jeff bezos. --40 -- it will address inequities in homeownership across the area. global news 24 ho

. >> vonnie quinn it has our first word headlines. -- vonnie quinn has our first word headlines. strong earthquake shocked fukushima japan. 7.3 magnitude hit late wednesday killing one person and injuring dozens. a bullet train derailed in the region. no injuries has been reported there. the infected area was devastated by the earthquake and tsunami in 2011 that left 60,000 people dead. japan will revoke the most favored trade status for russia stripping it of basic wto rights. private -- the prime minister called russia's aggression inhumane. japan plans to freeze the assets of more russian oligarchs. a united nations tribunal ordered russia to defend -- suspend operations in ukraine. it is unlikely to carry real-world ramifications yet. the court found ukraine has a right to not be subjected to military operations by the ukrainian federation. -- the russian federation. if moscow does not abide by the order the un's top force has the right to revoke its security council. global news on air and on bloomberg quicktake. i'm vonnie quinn. this is bloomberg. >> breaking news out of b

let's get to vonnie quinn with the first word headlines. vonnie: french president emmanuel macron says putin has refused to halt his attack on the ukraine, and he is convinced the russian president was to control the whole country. he held a 19-minute phone call with putin in which putin repeated his goals of ukraine's brutalization and neutral status, saying they will be achieved no matter what. moldova and georgia are asking the european union to begin membership talks. . they joined our bed earlier this week by ukraine -- they joined a bid earlier by ukraine this week. eu leaders will discuss enlargements at a summit in paris next week. the european union wants to remove russia's most favored nation status at the wto. it would increase costs via tariffs for any e.u. companies still doing business with russia. the bloc has already adopted sanctions against russia and the latest move could hit $100 billion of its exports to europe. china's central bank says domestic bitcoin transactions have plummeted 10% of the global market. the country u

i'm vonnie quinn. this is bloomberg. shery: still ahead, and asset management group tells us why they are positive equities. and global stocks are on track for their worst quarter in two years amid concerns over a growth slowdown. we will discuss. this is bloomberg. ♪ haidi: can the u.s. economy withstand the aggressive rate hikes passed by some of wall street's biggest banks? the march u.s. drop support may provide some clues. bloomberg's policy editor kathleen hays here with the preview. what are we expecting from the job report? does it change anything from the fed, or reinforce the path they are on? kathleen: the latter is what we expect. people are exciting a recession -- people are expecting a recession. listen to this. as for aggressive rate hikes, goldman, j.p. morgan, morgan stanley 650 basis point rate hikes at the may and june meetings. there are four meetings after that. that is when you get 25 basis points in each meeting. then finishing the year off with two 25 basis point moves. that is pretty aggressive.

i am vonnie quinn. this is bloomberg. juliette: still ahead, an exclusive interview as singapore's borders reopen and travel restrictions received. we will have that interview, later in the hour. this is bloomberg. ♪ >> watch this. >> i do not see what the argument is. 50 in june, july, september. >> why wouldn't they? >> this is inflation around 8%. >> inflation is going to be insane for march. >> the average consumer is losing ground. >> 40% of the public has less than 100 -- $1000 in saving. >> there is a huge response. >> call me when we get to 3% in inflation. >> this is a fed in inflation fighting mode. >> it's going to be a wild ride. juliette: guests talking about the rate hike expectations. checking in on some moves we are seeing in the hang seng tech index space. shares are rising quite substantially, up by 11%. this is after they came through with earnings reports. the highest since last wednesday. the index had two sessions of declines late last week and the overall index is up 2%. rishaad: we have been hearin

let's get to vonnie quinn. : the biden administration set to reinstate exemptions on some chinese goods. exclusions will apply to more than 35 zero manufacturing components and consumer products ranging from tv screen parts to backpacks, bicycles, even to pillows. the trump administration had granted -- but those were about to expire in 2020. russia is demanding rubles exchange for gas prices that could aggravate the energy crunch. gas prices surged after president putin urged the central bank to develop a mechanism within a week. the specifics of the new arrangement are not clear but russia says it is ready to hold onto energy supplies rather than accept euros or dollars. russia will restart rating -- trading. it will resume in 33 russian equities. a ban on short selling will reply -- apply. trading was halted on february 28 to shield investors from the sanctions impact. russia's climate envoy has been the latest official to break with the kremlin over the invasion of ukraine. bloomberg has that he step down, c

i am vonnie quinn. this is bloomberg.coming up, the former hong kong stock exchange ceo joins us to discuss his later venture. that is next. this is bloomberg. ♪ shery: drowsily, the former head of on's stock exchange has raised $70 million from investors including a local tycoon in the latest funding run for his new venture micro connect. a company platform that links international capital to small businesses across china. it has raised a total of $120 million over the past year. joining us now is charles li. good to have you with us, thank you so much for your time, and congratulations on the capital raise. tell us what you plan to do with it? >> thank you, shery. we are starting to deliver on our system. we are trying to connect to small micro businesses in china. this is different from the traditional stream where you pick up stocks. we are finding more stores, entrepreneurs. the funding will be to scale up the partnership. the platform technology and also the market infrastructure. this is a huge market. they're doin

i am vonnie quinn. this is bloomberg. rish? we will be speaking to mk global on market reactions to india's gdp release and the impact russia's invasion of ukraine will have on the country. plus, singapore. we will discuss pay quality between the pga and lpga. this is bloomberg. ♪ >> the energy trade is going to be disrupted. this will not be as smooth thing. >> this is an enormous amount of oil that has a potential to be disrupted for weeks. >> [indiscernible] >> we have done that before and it did not make a huge impact over the long haul. >> there is room if needed to put sanctions. >> i think you can see an effect ascension on russian energy. >> this is an amount world can afford to lose. haslinda: our guests on the outlook for energy markets. global commodity prices surging with russia's invasion of ukraine disrupting shipments and sending shockwaves across markets. let's bring in our energy reporter to break down the biggest moves. the disruption expected to continue, especially trade in the black sea. stephen: yes. there

i'm vonnie quinn. this is bloomberg. juliette: markets getting a taste of what impact a cease-fire may have. the bank of japan has moved early and decisively to curb any upward pressure even with yields pulling back. let's bring in our cross asset reporter emily barrett. quite extraordinary intervention coming through from the boj today. emily: this is a continuing story. the boj is really fighting to defend that yield target. as we have discussed before it is a big challenge for the boj. the yen is really continuing to suffer. it is still around 60 or lows versus the dollar. pressures persist on global yields as to where the boj is likely to listen. but today we saw somewhat of a reprieve on global bond market. we saw the 10 year yield has fallen back from some of its heights of recent days. and there is suggestion perhaps we are seeing those inflation pressures, or at least the real fear around inflation starting to ease somewhat as oil prices have subsided. but it is yet to see what happens next. very much hinges on w

i'm vonnie quinn.his is bloomberg. ♪ >> we are seeing the australians on the communications company, trading, rising as there is a cash proposal from the brookfield group consortium. lots of optimism. significant progress has been made. no issue would indicate that they would move to a binding packed. we are seeing unity trading at its highest, versus the five dollar a share cash proposal. still ahead, they say markets will state volatile and investors should tread with question. we will discuss this, next. this is bloomberg. ♪ >> the yield curve is inverted in certain places. >> it's not great for equity markets. >> the potential for a recession is growing more and more. >> the yield curve can tell you a recession is coming. >> the curve inversion -- >> a lot of money can be left on the table. >> the fed knows it is late. now we are going to make a policy error trying to fix a problem that they should have tried fixing last year. >> what central banks are doing sadly can only work with demand destruct

now let's go to vonnie quinn. vonnie: president joe biden and the japanese president have condemned what they call north korea's first long-range ballistic missile test in years. the lunch violated several un security council resolutions and they called on pyongyang to halt actions. north korea has been ramping up activity since january. a chinese foreign minister has met with taliban leaders in afghanistan and his first visit since a militant group seized power last year. it says improving bilateral trade was on the agenda for talks. more than 180 pieces of wreckage, and engine, and human remains. the wreckage was found 10 kilometers away. it may have broken loose long before impact. all 132 people on board are presumed dead. nearly half of the european companies in hong kong are planning to exit the city. that's according to the european chamber of commerce which found that firms intend to fully relocate in the next year. another 24% expect to partially move away. this is a sign that tough restrictions are erodin

i'm vonnie quinn. this is bloomberg. ♪ shery: still ahead, the director general joins us to discuss flight bands to hong kong and what it means for cathay pacific. also rate hikes and why a recession is the only way to stop inflation. this is bloomberg. ♪ haidi: you are watching daybreak australia. some are forecasting two 50 bones -- 50 basis point rate hikes. our global economics and policy editor kathleen hays is here. what are we expecting from the jobs report? does it change anything from the fed? >> it may underscore something from the fed. who can get more aggressive with the rate hike prediction? three banks all see 50 basis point rate hikes in may and june. citigroup sees 50 basis point hikes in june through september. they believe this is something the economy is strong enough to take. today we saw a big consumer spending report. it's all the spending. everything you by. it looks like maybe this surging inflation is starting to affect the consumer and a couple of ways. spending was down 0.4%

let's now get to vonnie quinn with the first word headlines. vonnie: thank you. the u.s.aides are stressing the u.s. has not adopted a policy of regime change. france and the u.k. distanced themselves from the president's comments in warsaw, biden has recently made a series of unscripted remarks fueling tensions with russia. china is locking down shanghai for mass covid testing after 2,600 cases on saturday. the city of 25 million people will first lock down areas in the east of the city including the financial district for four days starting monday. the west for the same period following that. residents are banned from leaving home and public transport will be suspended. the second black box has been found after days of searching, the flight data recorder was recovered among 33,000 plus pieces of wreckage. some apartments of the device are severely damaged. the mysterious nosedive last monday killed all 132 people onboard. officials say they found no evidence of explosive materials in the wreckage. the u.s. says the revival of a nuclear deal with iran may not be imminent

let's get to vonnie quinn with the first word headlines. vonnie: shenzhen has lifted its weeklong loss now. officials say the latest covid wave is coming under control and the city will allow government agencies and companies to return to normal operations. bus and subway services are set to resume. shanghai disney is temporarily shut. hong kong has recorded its lowest number of covid cases and more than three weeks. more than 14,000 new infections were reported. the chief executive said officials may present control measures as soon as monday. local media say that's going to do the roadmap for quarantine travel. pan has asked the united arab emirates to increase oil exports as importer step up pressure on opec to keep ringing down prices. the uae has yet to comment, but the opec group has so far resisted those polls, saying there is more due to geopolitical tensions and imbalance in supply and man. the world top aluminum exporter in australia's banning shipments to russia. they say that will leave the country with a 20% shortfall in supplie

let's get you to vonnie quinn with the first word headlines. vonnie: the united states may sentient russia's state owned atomic energy company, which is a major -- sources say the biden administration is consulting with the nuclear power industry about the possible impact. no final decision has been made. they account for about 35% of global uranium enrichment, making it a delicate target. germany is broadening sanctions against russia that target the country's biggest bank and the energy sector. multiple sources say berlin is resisting a push from the bloc to add to the list of russian -- the german chancellor also opposed cutting off energy supplies from russia earlier this week. russian and ukrainian energy officials have exchanged warnings about risks to gas infrastructure with each side seeking to distance itself from responsibility. russia has taken control of two of four ukrainian stations that pump natural gas to europe. however, it said -- russia is heading for one of the biggest inflation spikes this century. it's prompted the collapse

let's get to first word news and vonnie quinn. vonnie: russia is refocusing its military campaign in ukraine on the port city of mariupol. the bombardment continued on monday after a russian ultimatum for the city's surrender expired. the intensity is seen as a sign that president putin is trimming ambitions. president biden has warned that russia could be weighing a cyber attack against the u.s. in a statement on monday, he pointed to intelligence suggesting moscow is exploring potential hacks, that could be a result of frustrations over sanctions. biden added that most of america's critical infrastructure is run by the private sector. china has set stronger military -- monetary policies for the economy. according to a state broadcaster, the countries cabinet wanted sanctions at a sensible rate. china eastern is grounding its fleet of boeing jets allowing monday's crash that killed all 132 people on board. the plane climbed 96,000 feet in less than six seconds, which is highly unusual. a senior investigator has been approved -- ap

i'm vonnie quinn this is bluebird -- i'm vonnie quinn. this is bloomberg.ishaad: let's have a look at what is going on with commodities. nickel set to resume trading on the london metal exchange. let's get to su keenan who is starting off with oil here. trading slightly higher in the asian session but still down about 6% in the last 24 hours. su: 20 to 25% since the multi-year highs a week ago. it has been a wild ride in the volatility is not ending anytime soon. maybe traders are talking about the round-trip from the 200 day moving average. that was before it shot up into the stratosphere. we have seen oil come down dramatically and only in asia trading are we starting to see it pop up again above 97. i'm talking about west texas intermediate. oil closed above the 97 mark in new york trading on tuesday and has shot back up in the last hour. there are some buyers out there. brent crude closing above 100 in the most recent session. there are a number of fundamental issues weighing on the market. we have got iran nuclear talks. there is a lot of signaling the

let's get it over to new york with vonnie quinn. vonnie: president biden unveiled a budget for fiscal 2023, it will aim to combat deficits by $1 trillion and contains $2.5 trillion. the proposal includes additional funding for police and veterans, one of the biggest ever increases for the defense budget. the australian government is said to offer sweeteners and highlight an outlook. prebudget announcements have revealed support for first-time homebuyers. the u.s. senate passes version of a bill to aid the domestic tip industry. it's a key step needed to kickoff negotiations. the senate voted 68-28 for the plan which includes $50 billion for the semiconductor sector and bring key industries back to the u.s.. will smith has apologized to chris rock for slapping him on stage. he described his behavior is unacceptable and inexcusable and said he was reacting in an emotional way about his wife. the academy of motion picture arts and sciences has began a review into will smith. global news 24 hours a day, on air and on bloomberg quicktake,

i am vonnie quinn.his is bloomberg. kathleen: still ahead, amid sanctions, we look at the potential long-term impact of the war in ukraine on the global energy market. up next, shane oliver tells us how he sees reducing risk and the main drivers he is keeping his ion appear this is bloomberg. ♪ >> what i said is if we think it is appropriate to raise 50 basis points, we will do so. haidi: fed chair jerome powell speaking earlier. let's speak about the impact on markets with shane oliver, chief economist with ansi powder -- ansi capital. how much volatility do you see? we had movement in the treasury market that extended into the australian bond session, as well. shane: the reality is the situation in ukraine is far from resolved and could get worse. we have central banks raising rates and becoming more aggressive in doing so, or that seems to be the message from the u.s. fed. we've got rate hikes coming up in australia. we've seen a good rally in markets from their lows a few weeks ago, but that rally i

i am vonnie quinn. this is bloomberg.coming up next, the london metal exchange set to reopen later on after suspending trades for more than a week following the unprecedented short squeeze. we have the details ahead. this is bloomberg. ♪ shery: take a look at the yuan. south -- saudi arabia was in talks with beijing. we have indication sanctions could precipitate the end of the u.s. dollar role as the world reserve in currency, given the broader selloff in chinese assets. the dominance of the chinese yuan rising in the world against the u.s. dollar has been talked about for a while, this is the share of swift payments for the yuan. china has made the internationalization of the yuan a top priority, and we are seeing some countries seek to reduce dependence on the u.s.. however, affect strategist say if we see such a move from saudi arabia, that would not necessarily be a game changer. we know that the saudi read is pegged to the u.s. dollar, it would see weakness in the u.s. currency that can affect the kingdom. turning t

let's get to vonnie quinn. vonnie: the european union is calling for fast action to ensure the safety of ukraine's nuclear power plants two of which have been seized. in a letter to the international energy atomic agency, the u.n. urged moscow to return full control of the facilities to ukraine. the u.s. is said to begin a review of the first group of tariffs on chinese imports. of the process is needed to prevent duties from expiring and is likely to bring new scrutiny to their effectiveness. the biden administration has given no signal of plans to remove the tariffs data showing china is falling short of its purchase demands. the batman reportedly collected more than 101 -- $128 million in ticket sales making its the top domestic release this year. the numbers are helped by warner media putting theaters on the forefront of its strategy after a year of simultaneous releases in cinema and online. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in

let's get the first word news with vonnie quinn in new york? ident emmanuel macron says vladimir putin has refused to halt his attack on the ukraine and he is convinced the russian president wants control of the whole country. he held in 19-minute phone call with putin on thursday, in which putin repeated his goals on denuclearization and a neutral status for ukraine, saying it would be achieved no matter what. the biden administration will section eight wealthy russians and their families, plus impose more restrictions on several others, as the allies seek to raise pressure on vladimir putin and those closest to him. one of russia's richest man is among those on the sanctions list. >> today i am announcing that we are adding dozens of names on the list, including one of russia's wealthiest billionaires. i am learning travel to america for more than 50 russian oligarchs, their families, and their closest associates the european union wants to remove russia from the w.t.o. list of most favored status. the bloc has already adopted sanctions agains

haidi: let's get to vonnie quinn with the first word headlines. vonnie: the european union has agreed to exclude seven russian banks from the financial messaging system in response to invasion of ukraine by russia. however, the nation's biggest lender and another one part owned by a giant. it came 10 days after their adoption. the european union has agreed to move the ukraine's membership bid. they will ask the executive arm to look into the possibility. the ukrainian president formerly -- formally put in an application. it can last more than a decade. >> we have proven our strength. we have proven that, at a minimum, we are exactly the same as you are. so do prove that you are with us. do prove that you will not let us go. do prove that you, indeed, our european. -- are european. that life will win over death. vonnie: ukraine has raised 277 million dollars from the sale of war bonds. ukraine also paid about $300 million in bond interest to international investors do tuesday. the government is looking at other fundraising options including foreign

haslinda: let's get the first word news now with vonnie quinn in new york. vonnie: thank you and good morning. the international monetary fund is warning the war in ukraine and sentience on russia will have a severe impact on the global economy. the fund says economic consequences are already very serious given the impact of price shocks, especially on poor households. the imf will discuss ukraine's request for $1.4 billion in aid as early as this week, as it notes systemic -- substantial damage already done to ukraine's economy by the war. chinese president xi jinping addressed the npc, saying china cannot rely on international markets to ensure its food security. xi said china should focus on its domestic food markets while ensuring it has an appropriate level of foreign capacity. xi also stressed the need for from an protection and technology-led development of the seed industry. the u.s. is set to begin review of the first group of tariffs on more than $300 billion of chinese imports. the process is needed to prevent the duties expiring and is likely to b

let have a look at the first word news now with vonnie quinn. vonnie: russia plant itself to limit trade in some goods and raw materials in response to sanctions. president putin signing the order with details to follow on which policies exactly will be affected. the kremlin has instructed the government to prepare a list of countries for research and within two days. russia is a major exporter of oil, gas, and metals. retaliatory sanctions have so far been vague. the eu is said to be discussing new sanctions that would target russia's national wealth fund. over a dozen wealthy individuals and more than 140 members of the russian parliament. sources say the eu is also discussing banning russian maritime and land transport as well as access to european ports. but germany has expressed concerns about the disruption it would cause to nonsentient trade. china has asked state owned to report exposure to derivatives contracts following wild claims that embroiled a major chinese letter. at least two banks held major internal meetings to say. you leaders

i'm vonnie quinn. this is bloomberg.g kong reported over 14,000 new covid cases on sunday, the lowest daily total in more than three weeks. the chief executive said case numbers appear to have hit a peak. >> having gone through a month and a peak you have seen here, a responsible government should regularly and vigorously review these measures to see whether there is room for adjustment. kathleen: on the mainland, the shanghai disney resort will close as infections soared to record highs. let's bring in our chief north asia correspondent and let's start with hong kong. what can we expect from the covid briefing? stephen: a lot of people are expecting some sort of relaxation on some of the world's toughest covid restrictions, including the 14 day hotel days for arrival and those who test positive need to isolate for seven days. so there are some discrepancies there. there is just a fatigue, if you will, that she acknowledged late last week, that there is growing impatience, and growth -- including among the business commu

let's get the first word news with vonnie quinn in new york. vonnie: south korean opposition's leader has been elected president. his win will return the conservatives to power after five years and signals a hawkish turn in relations with china and north korea. he will succeed moon jae-in as president on may 10 and will face a parliament where his party maintains democratic majority. ukraine says it won't surrender any territory to moscow. a top foreign-policy eight to president zelensky laid out ukraine's preconditions, with an immediate cease-fire and withdrawal of russian troops as top priorities. >> if you ask me whether there is a diplomatic solution, sure, we are ready for the diplomatic solution. there were three rounds of negotiations already. tomorrow our minister of foreign affairs will meet with the minister of foreign affairs of turkey and with foreign minister the. vonnie: amazon plans to split its stock. the move will end and era of four that your prices for u.s. tech giant. -- digit prices for u.s. tech giants. the company has als

shery: let's now get to vonnie quinn with the first word headlines. vonnie: president biden says the u.s. will send thousands of antiaircraft and antitank missiles to ukraine as part of a new aid package to help the country fend off invasion russian forces. the white house is touting $1 billion in security assistance authorized for ukraine in the past week. it follows an address to congress by ukrainian president volodymyr zelensky. >> we need you right now. remember pearl harbor. terrible morning of december 7, 1941 when your sky was black from the planes attacking you. just remember it. remember september 11. vonnie: ukraine and russia showed some signs of progress in their cease-fire negotiations. the kremlin says ukraine's proposal to become a neutral country could be viewed as a compromise. president zelensky said russia is adopting a more realistic position than previous talks. despite the developments, ukraine temperate excitations by pointing to russia's continued attacks, claiming moscow's more positive tone is more about using pressure from s

let's get you over to vonnie quinn with the first word headlines. nnie: thank you and good morning. the european union is back to reinforcing the u.s.'s warning to china that would face serious consequences for helping russia with sanctions really for military support. sources say brussels and washington have been coordinating ahead of the e.u.-china summit with the aim of encouraging beijing to take a responsible stance on the war. communication with china is excited to be on the agenda when president biden meets e.u. leaders in brussels thursday. china has played stronger monetary policy support for the economy while cautioning against slowing the market with liquidity. the country's cabinet called for the adoption of monetary tools to keep credit expansion at a stable pace. they also promised to maintain policies that can support the economy while pledging to avoids measures that can hurt market sentiment. japan is warning of potential electricity shortage on tuesday and has issue its first ever power supply alert for tokyo. that is power plant ou

i am vonnie quinn. this is bloomberg. shery: coming up on "daybreak: australia," we speak to nato's former deputy secretary general to get her insight on the response to the war in ukraine. next, a co-cio of investment tells us where she is allocating some of the firms $240 billion in assets under management. this is bloomberg. ♪ shery: a check on the markets, u.s. futures rebounding after we saw the s&p 500 losing ground in the new york session. we had treasury yields rallying and tech stocks syncing with the nasdaq 100 closing in bear market territory. we are seeing futures rebounding, although oil extends declines we saw in the new york session. we saw a drop as negotiations between ukraine and russia seem to be more substantial. the lockdowns in china giving rise to concerns about oil demand. our next guest says tech has been the defensive play in market volatility the last few years but it will not be the case this time around. with us is dana d'auria. this chart is showing us how the nasdaq 100 has entered bear mark

let's get you to vonnie quinn with the first word headlines now. vonnie: thank you.n union is calling for a fast action to ensure the safety of ukraine's nuclear power plants, two of which have been seized by invading russian forces. in a letter to the international atomic energy agency, the eu energy commission urged moscow to return to full control of the facilities to ukraine. it said missile strikes at europe's largest plant and its takeover are unacceptable. the international monetary fund is warning that the war in ukraine by russia and it sanctions on russia will have a severe impact on of the global economy. the fund that says economic consequences are already serious given the impact of price shocks, especially on poor households. the inf will discuss ukraine's request for $1.4 billion in aid as early as this week. substantial damage results ukraine's economy by the word. a decrease on by president vladimir putin will allow russia and companies to pay for and companies to pay foreign creditors in rubles. it is a way for the governor to dust government to sta

here is vonnie quinn. vonnie: more talks on the table at least. a third round between ukrainian and russian officials, but they made little progress towards a cease-fire. both sides say talks will continue. it comes amid a growing humanitarian disaster. more than 1.5 people have fled ukraine since the war started. several attempts to create a safe passage for civilians have fallen apart amid neutral recriminations. u.s. lawmakers have agreed on the outline for bipartisan legislation that could allow a ban on russian oil. the proposal could voted on as early as wednesday giving president biden the power to restrict imports of russian crude. the white house is considering moving ahead with the ban without the participation of european allies. european union governments are divided about whether to join the u.s., with germany ruling out the restrictions for now. russia is threatening to cut natural gas supplies to europe. in a televised speech monday, the energy minister warned the kremlin could block gas flowing through the nord stream one pipeline

i'm vonnie quinn.is bloomberg. >> china has ordered a sweeping two-week safety review in the wake of the crash on monday. the cause remains a mystery at authorities are revealing that the pilot of the doomed aircraft did not respond to multiple calls from air traffic controllers as a plane went into a nosedive. it's get the latest with our north asia correspondent stephen engle. do we have any more clarity on the circumstances that led to this rash? a lot of these investigations take some time. we do see chinese authorities taking action. >> there are circumstances that led to the crash or are aligned with this crash, not necessarily the cause. it is way too early to say that one is the cause. and i am here north of seattle, i made a phone call talking to them about how the 737, the most successful range of aircraft, if you strip out the separate talk -- troubles as of late. people are puzzled how this could happen. data showing that in the stable dive. and that data shows the plane was traveling at mo

i am vonnie quinn. the russian convoy appears to be stalled on the outskirts of the city of kyiv.wever, officials expect moscow to regroup. the officials also see little having changed on the battlefront in the past day. russia has so far fired about 450 missiles. the war in ukraine could knock $1 trillion off of the global gdp and add 3% to worldwide inflation this year, according to a study by the u.k.'s national a city of economic and social research. . it says the u.s. is the most exposed region, due to its reliance on russian commodities, and energy. ukraine is poised to hike it's right on thursday in a bid to stabilize its economy. the base rate is currently 10%. ukraine has already rolled out capital controls that include limits on cash withdrawals, and it has suspended foreign currency trading. russian billionaire roman abramovich is said to sell chelsea football club. he says he will donate seats to the victims of the war in ukraine. he is looking to receive about 3 billion pounds for the english premier league team which he bought in 2003. the disclosure came hours after

let's get you to vonnie quinn with the first word headlines. vonnie: the u.s.lies are expected to announce new measures against russia during president biden's visit to brussels. jake sullivan says that along with fresh sanctions, they will ensure efforts to crack down on invasions. biden will attend an emergency nato summit in the session of the european council. russian opposition figures calling on people to oppose lot in your prudent after he was sentenced to nine years after -- for alleged fraud. he said the best form of support for political prisoners is action against war criminals. his nine year jail sentence will be added to the years he's currently serving. the myanmar government declared to commit genocide. it's foreign ministry has denied engaging in any genocidal actions, citing the remarks are politically motivated. myanmar's military killed more than 9000 people enforce more than 800,000 others to flee to neighboring bangladesh. mckenzie scott has donated 430 $6 million to habitat for humanity as the housing crisis intensifies. it's the biggest k

let's take you to new york for first word news from vonnie quinn. vonnie: san francisco fed president mary daly is echoing calls for rate hikes in may. she said she would also point a 25 basis point rate hike. fed officials cautioned against moving too quickly given broad risks and noted the fomc would have to take tightening by other central banks into account. >> they will absolutely confirm what chair powell has confirmed for himself, which is i have everything on the table right now. if we need to do 50, 50 is what we will to. but the data will help us determine how much is necessary. vonnie: russia is demand -- planning to demand payments in rubles for natural gas purchases , which could lead to another standoff with the west. gas prices surged after president putin ordered this. the specifics of a new arrangement are under clear, -- are unclear. the biden administration has had to reinstate exceptions on some chinese goods. the tariffs would apply to more than 300 50 manufacturing components of consumer products. the trump administration had or

let's get you over to vonnie quinn. vonnie: u.k. police may find at least 20 government officials close to the prime minister who broke local lockdown rules this follows investigations into reports of officials holding parties when public health restrictions prohibited most gatherings. the penalties could come as soon as tuesday peered the prime minister has said he was assured no worlds were broken. north korea looks set to detonate its first nuclear bomb in four years. workers have been observed taking a new passageway where pyongyang conducted all six of its previous tests. south korean media say a test could come next month pin further penalties from the unit nations would require the support of russia and china. a u.s. judge says it is likely former president donald trump committed crimes and a relation to the capitol riot last year with hundreds of his supporters disrupted 2020 election certification proceedings. under the rule come in mills between trump and his lawyer are required to be turned over to the january 6 congressi

i am vonnie quinn. this is bloomberg. juliette: thanks, vonnie.yo governor cubicle: a great is welcoming more foreigners to countries. the country is recovering from its worst wave of covid-19 infections get and has maintained a daily 7000 person limit on overseas rivals. koike told bloomberg she is looking forward to the return of travelers as the situation improves. >> in the fight against covid-19 the most important thing is to protect the lives and livelihoods of the residents. it is a large city of 14 million residents, but each person as taken basic prevention measures such as wearing masks and washing hands. the number has been kept under control. request from national and local governments are based on not just legal enforcement but cooperation, and these are not orders. rather, people are aware of the risks of covid-19 and have follow these directions to keep themselves, their families and societies as a whole safe, and in order to prevent additional waves of infections by omicron or ba.2. it is for the requested to shorten their business

i'm vonnie quinn.. ♪ shery: china, counting on its close relationship with china to help it either the surging global oil prices, which threatened to boost consumer prices. bloomberg economics and policy editor kathleen hays is here. kathleen: inflation numbers are probably going to be not bad. we will get to it in a minute what is interesting about china and inflation in the oil price spike is that they are at a crossroads. they has to booth -- they have to boost growth by adding stimulus, but oil prices spiking, doesn't that challenge your ability to do that? china says we are insulated this because we have high levels of domestic energy supplies and long contracts that protect us. very strong ties to russia in case you hadn't noticed. if we need discounts, help on that front, they are surely going to give it to us and we go into this with our consumer price index and key inflation measures looking pretty good. so, that is why they don't seem to be worried on the surface. but again, rising oil prices

i'm vonnie quinn. this is bloomberg. situation in hong kong -- singapore seeking to attract workers with super skills in its effort to position itself as a global city. >> we have always been very open to parents all over the world. we are a global city. we want to become an even more highly differentiated local city, a global magnet city, full of opportunities, expertise, and talent, and making sure we can be a magnet to attract all this talent from all over the world. i think the whole series of measures today, actually arose out of this pandemic, this black swan event. a lot of this is border controls, public health measures and so on. haslinda: but tighter restrictions when it comes for allowing talent in -- how did you convince foreign talent wanting to work in singapore of what you believe? >> we are trying to differentiate the high talent, the really super exclusive talent that can come to our country to work, to complement our existing workforce, and we can then together work hand-in-hand, shoulder to shoulder an

let's get to vonnie quinn with the first word headlines. vonnie: thank you.president is expected to ask for more aid. lawmakers are agitating to do more to help ukraine and punish russia. however, he won't get all of his requests including the no fly zone over his country. the european union is said to impose more sanctions on russia. according to a draft of the sanctions attempted by bloomberg, a ban will be placed on some russian steel and iron products. it will ban sales of luxury goods and cars to the country. the package is sent for final approval by e.u. nations later tuesday. russia has started the payment process of two bond coupons due to this week in one of the most closely watched debt settlements in the war. paying $117 million, whether that will be in dollars, the issue currency or in rubles. if settled in rubles, it may put the nation toward default. joe manchin will oppose the nomination. he represents coal rich west virginia and supports an expansion of oil and gas drilling. he joined over the stance of climate change. pat tomby says that like

let's get over to vonnie quinn with first word headlines. >> thanks. good morning. the china central bank boosting confidence, following the worst covid outbreak since the start of the pendant. the latest policy meeting, the pboc said it will be forward looking and will expand its lending program for businesses. economist have cut their growth forecast for china until the lockdowns have ended. russia will lift a shortselling ban on local stocks thursday, removing one of the measures that help to limit market declines after record shutdown. the bank of russia also says equities trading hours will be expanded from the shorten session back to nine hours. restrictions on the trading of securities by foreigners remain in place. opec-plus may exclude oil production estimates provided by the international energy agency following criticism for both sides. sources say ministers will discuss the pros thursday. -- the proposals thursday and it would change the come position of estimates and appears the cartel wants to use the course to use to gauge of clients on quotas. the u.

i'm vonnie quinn. this is bloomberg.. >> let's get you a check of the markets.d session as investors continue to assess the situation when it comes to a cease-fire, talks and negotiations between russia and ukraine. also watching the energy story, as we continue to see more upside for oil trading in asia after losing it percent over the past few trading sessions. the nikkei 225 is softer at the moment. the bank of japan, saying it will buy more bonds that even plans at once is regular operation, they seem to be aimed at curbing anymore pressure on government bond yields. we have the issue of the yen as well despite government intervention this would. we are seeing that have a percent there. we see the impact of the budget skewed toward alleviating inflation pressures. we are seeing consumer discretionary, one of the big leaders here in sydney. >> as we had to the china markets open, we are watching those earnings out fast and thinking china. the bank of china, seeing the biggest profit rise decade as lending momentum recovered in the second year of the pandemic.