we've got lots of holidays happening there, but vonnie quinn can take us through what is in action. vonnie: plenty going on. thanks to some of what you just laid out there. china on holiday, hong kong on holiday, but returns on friday and we have taiwan on holiday as it tries to assess damage and rebuild, and also find some more survivors from the island's earthquake yesterday. markets around the world it seems are reacting to what fed chair jay powell said yesterday about continuing to expect to see rid cuts later this year. and to wait and see what happens with inflation data. don't forget that services data that came in less hot than anticipated. the fed has been waiting on services to show cooling down, let's put it that way. if you look at the msci asia pacific index, we are up 0.8%. some of that has to do with japan, up 1.3%. the other thing in japan is the earnings start this weekend investors are inspecting more of a payout now in terms of dividends and someone because japan has been doing well and companies have been doing so well and the yen has been weak, which has helped

i'm vonnie quinn with the top stories. the turkish leader weakened after erdogan sufferedded a shocking defeat at the elections. many cities including is tan ball and angara went to the main opposition party, the republican people's party. if it holds, it will be the first time erdogan's party has fallen behind the opposition party nationwide. israel will also give sufficient aid to the civilians. israel is facing growing international pressure, including from the u.s. to semia cease-fire but netanyahu says fighting won't end until hamas is defeated in r affects fah. protesters want the government to reach a cease-fire deal to reach a cease-fire deal. talks continueded with no sign of a breakthrough. tens of thousands gathered in the indian capital of delhi on sunday to protest political arrests. their leaders face jail time and federal investigations. two chief members have been invested and both are still in prison. the rare gathering came less than three weeks before the general election in which premier modi's governme

tom: vonnie quinn in dubai with a check on the asian and middle east market reaction to the geopoliticsr the weekend. the u.s. hoping to avoid further escalation. talking of escalation, that is something vonnie was feeding into the market check. avoiding leading to wider war in the middle east following iran's attack on israel on saturday. the u.s. secretary of state says while the u.s. is not seeking escalation, it will continue to support israel's defense. was bring in marc champion from bloomberg opinion. are the markets being overly sanguine about the risks? or are they reading this right. >> i don't think they are being overly sanguine. the important thing to happen was that the iranian's, as soon as they had made this large attack, immediately said as far as we are concerned, this concludes it. the fact that the iranians took that view and the fact that despite it being an enormous attack, unprecedented, it actually failed. virtually all the missiles were shot down. there was miner damage. -- minor damage. sadly, one young woman is badly injured. in terms of what might've happened

>> welcome to bloomberg markets, i'm vonnie quinn with the top stories. benjamin netanyahu says the israeli military will move civilians before attacking forces. he said israel will give aid to civilians. israel is facing international pressure to accept a cease-fire and netanyahu says the fighting will not end until hamas is defeated. erdogan has suffered a defeat in elections. the party was behind the republican people's party and results are boosting the popularity of the opposition mayor of istanbul. there has been self-criticism over the results. ports all along the east coast are absorbing cargo from the baltimore harbor. new jersey is allowing quick access for transport in virginia is opening its gates earlier to accommodate truckers. salvage specialists are clearing debris from the francis scott key bridge. nippon steeles new chief is pressing on with the acquisition of u.s. steel. the president says the deal would give the u.s. firm access to technology to boost competitiveness. prospects for the acquisition have been clouded by joe biden's belie

vonnie quinn is standing by for a check on those as well as the middle east. vonnie? vonnie: you said it, tom. these are markets beset by woes. we're seeing it particularly in the currency space and in fixed income, as you mentioned. also, in equities, these are markets falling out of bed across the market. the yen, 154 is where we're at. economists looking at the 1991 intervention level but we may get something before that. on the other hand, it may not matter if the b.o.j. or if monitor officials intervene if the fed can't cut yet. the korean yuan crossed the 1400 mark earlier. we're well below that now but still weaker versus the u.s. dollar. we do have a b.o.j. meeting in 10 days. the nikkei 2525 down 1.4%. it is really across the board from asia. i know you'll be speaking on china. let's look at middle east as well because geopolitical event and rhetoric obviously impacting these markets as well. the market was trading yesterday. obviously we've been closed for hours now and haven't opened up for the tuesday session but the dow will reverse the previous day's dec

let's get to the taiwanese earthquake impacting markets in asia and other things with bloomberg's vonnie quinni. what is happening? vonnie: fallout regarding officials at sites and buildings that a fallen down. 26 buildings collapsed and at least four individuals have died according to the local fire service. some chip factories have evacuated workers and so on, the earthquake hitting at 8:00 a.m. local time when people would be going to work. tsmc took a hit in trading. macro factors are impacting taiwanese shares. impact is fairly contained market wise. taiwan semi conductor down one and a quarter percent. there is a whole at chip stocks because they reported revenue less than expected. shares around the world including south korea are lower. the nikkei is down again, another down session for japan shares. we will see where the money is flowing. there was a suggestion it might flow into china. the yen at 151 .59. it could go to 160 and if the boj intervenes it will not matter until the rate cutting cycle. let's hope the board. central banks are waiting for the fed cycle. we also have china w

let's get to vonnie quinn with an update on how markets are faring. nnie: fascinating session with crosscurrents coming together. first reaction to the pce data, hong kong closed yesterday, now reopened. huge catch up there, but activity around the yen. mark mobius saying anyone short on the yen, this is a losing battle for authorities. we are at 1/5 the one. 152 is the line in the sand. as mark cranfield said, it could be anything and officials have been good about wrong footing traders. they might let the yen weakened before they do anything about it. that is all playing out. it last time we got intervention was 2022. previously it was 1998. nikkei has turned positive. down session yesterday. one narrative was this might be the end of the up cycle and china could be a beneficiary. we will see. hang seng catching up to and a quarter percent. shall mean is up 11 and a half percent. they unveiled their first model and orders went gangbusters on par with china. across asia the index is about 3/10 of 1%. china is hesitating, csi down for tenths of 1% afte

vonnie quinn is standing by for us in dubai. what is happened? >> the same risk aversion percolating through asian markets, offering those were mxp , still done .8 of 1% for the asia pacific index. the hang seng reopened after the holiday. mainland china and taiwan closed today, the hang seng done .4 of 1%, property companies dragging on the hang seng. we got good news for a chip company i will tell you about that in a moment, but we have the hang seng down, china continues to be closed. this is a reaction to all of the risk aversion in the united states on thursday. nikkei225 down 2.1 percent. a little more strength in after governor await a -- ueda said the wage hike will be impacting from a be june, july, so that had traders thinking the next interest rate increase could come somewhere between july and october as opposed to what they have been thinking, which is that it would be pushed out toward the october timeframe. kospi down 1%. samsung came in and signaled profit for the quarter, but the actual signaling is an already that they return to

vonnie quinn is here to take us through the latest from dubai. >> two officials have confirmed to uske israel launched a retaliatory strike on iran after their news agency reported an explosion was heard in the city of isfahan where there is a nuclear tech center and we have learned that site is safe, that is a quote from iran state tv. this has been off the boil a little bit and gold despite below $2400 an ounce but we see a flight to safety in treasuries in the dollar and we will follow all of this all these details as they come out of or is it is a wood situation but it appears that ron is downplaying it to an extent and television media suggesting things are continuing as normal and we know that isfahan was -- >> we have to leave it there. we will take you through the markets. risk aversion. havens getting bid up. that is it from bloomberg markets: asia. this is bloomberg. ♪ o coming in.. big orders!s starting a business is never easy, but starting it eight months pregnant.. that's a different story. i couldn't slow down. we were starting a business from the ground up. people wer