i'm yvonne man in hong kong. kathleen: i'm kathleen hays in new york. al bank set to raise its benchmark interest rate friday. it will be the third rate hike since may. there appear trading close to its all-time low. look at this. you can see to rate hikes. there is one, there is two, 225 basis points. a governor facing the big challenge to try to stem the big drop. there is talk now that it could be a 50 basis point hike tonight to put some stop to this continued selloff. still with us, alex wolf. why is indonesia being attacked so brutally? can they stop it with rate hikes? under pressureis because it is one of the emerging markets economies that is still running a current account deficit. it imports quite a bit of oil. you see a stronger dollar, reduced sentiment around em, you are going to see outflows. they need a cheaper currency to continue financing their current account deficit to make it more attractive. can they stem it? yes they can. you have seen turkey, argentina, you see how their emerging markets economy raise interest rates quite sharply

i'm yvonne man, welcome to daybreak asia. asia pacific markets face a mute start after a listless session in new york. investors switch from the summit to central-bank decisions. ten-year yields rose and the euro well. gold and the yen are edging lower. ramy: i am ramy inocencio. at&t is to take over time warner. this will create a powerhouse to challenge amazon and netflix. president trump repeatedly that he can do a deal with kim jong-un. north korea says the pair exchanged rank opinions. opinions. yvonne: this is the day after that historic handshake. this is the summit in singapore. both sides learn? were spinning this as a win for the u.s. and north korea. we had the joint communique. we saw a commitment to denuclearization but they stand on details. first, let's hear from the epicdent during his hour-long press briefing. he will talk about how he will take this bet to trust kim. >> i think that he will do these things. i could be wrong. i may stand before you in six months. i could say that i am wr i don't know that i w

i'm yvonne man in singapore.o in new york. let's get a check of where markets are trading in the asia-pacific. japan's nikkei is giving us gains we saw earlier, down .1%. without those core machine orders for the prior month, definitely beating expectations. the kospi is rising at its highest in the early part of the trading day, up by about .3%. currencies on the region, as well. 109.41 there. not much movement for the aussie dollar. this is bloomberg. ♪ yvonne: 8:30 in singapore, a day away from the summit to train president trump and kim jong-un and minutes away from the singapore open here. plenty of action in the markets here, not just geopolitically, but also central banks meeting this week and plenty of data to sift through. i'm yvonne man in singapore. ramy: i'm ramy inocencio in new york and you are watching daybreak asia. let's get first word news now with haidi lun. haidi: president trump and kim jong-un are in singapore for their historic summit. they flew in amid heavy security and will meet at the c

i am yvonne man. ."lcome to "daybreak asia the top stories this wednesday, asian stocks heading towards a mixed open. oils gains helping overcome simmering trade concerns. biggestimbing to the drop in almost two years. pressure on allies to cut its forces from iran. kathleen: i am kathleen haze in new york. president trump -- canada joins the e.u. in preparing new steel quotas in response to u.s. tariffs. trade continues to dominate concerns about markets. everybody is still wondering where this is going. you mentioned the report we should be getting at the end of the week. president trump clarifying he intends to use the committee on foreign investments in the u.s. to go after not just chinese investments and technology in the u.s. but other countries as law. yvonne: i guess darling back a little bit when it comes to the trade rhetoric. limbo on the trade fund. a modest rebound, as you mentioned. not seeing a lot of juice into the market, it is. kathleen: if it had not been for oil rebounding, we don't

yvonne: and i am yvonne man in hong kong.her peak, oil and the dollar gained. we are joined by a a couple of guests now. mike, it seems like trade is at the forefront and europe is at the center as well, that we are not seeing that momentum keeping through after the u.s. jobs report. are you still do yo ?e-risking in this environment michael: not at all. it seems to be more like a. the data we have been seeing around the globe, not just u.s. job numbers, it looks like there was a coordinated global economic expansion going on. that should mean better profits, higher share prices and more investment in the weeks and months to come. yvonne: what in particular are you looking at? i know that copper and some of these commodities, seem to be catching your eye these days, given some of the geopolitical tensions? michael: absolutely, copper in particular. gains ineen good copper, jumping up above the $321 level. att is important, because $330, we have a multiyear high. it would indicate an improved global industrial sentiment. at th

ramy: i am yvonne man in hong kong. -- yvonne: i am yvonne man in hong kong.nterest rates are likely to get a little sympathy from the federal reserve. let's focus on all of this. bring up the chart really quick. a we see in particular when it comes to thailand. we have seen foreign outflows have been increasing for much of 2018. announce thato joining us now is the extensive interview from bangkok. thank you so much for joining us. we have been talking about this whirlwind here. foreigners are probably more than $2 billion of type equity this quarter. that is the biggest outflow in asia after taiwan. how concerned are you of this capital flight and what is driving? if you look at the outflow from the thai market, you may be wondering what is happening. when you look at emerging markets, you see the century. that is the first thing. the second thing, when you look at the corporate earnings and share, it is much better than last year. forming -- has been performing quite well. i think that the fundamental is very strong. when you look at all of the support, the

yvonne: am yvonne man in hong kong.arley davidson shares slumped after it said it is shifting workers from the u.s.. harley had already announced plans to close the factory in missouri and build one in thailand. kathleen: another iconic american brand is in the firing line. jack daniels bourbon says they will have to raise prices in europe once the 25% tariff is imposed. says that retaliatory tariffs will cut earnings for the company 45% this year and next. pain in europes where car stocks fell to the lowest in nine months as proposed u.s. tariffs prompt downgrades. president trump has threatened cars ifffs on european the eu does not take down trade barriers of its own. warning ofhere is a a pullback from the u.k. -- the german automaker has plans for the u.k. and says the ongoing uncertainty over negotiations is not helpful. of comments echo those airbus. we are counting down to the open in japan and korea. let's go to japan. we are expecting to fly across the board here in asia. a -- after dropping 0.8% yesterday. se

yvonne: i'm yvonne man in hong kong.ief joined us, and called on the fed to be more mindful of politics at policy tightening. let's go to haslinda amin, who spoke with him in his first interview with international media. warning from the fed, but this is the new guy in town that is taking whatever it takes approach. >> he is the new guy in town, but he has been with the bank for more than 30 years. he has gone through several crisis. the impression is he knows what he is doing. he is saying the pace is a key issue for central bankers. just like r.b.i. governor, he is urging the fed to slow the pace of stimulus. he says that will support not just indonesia's growth, but global growth as a whole. even though every country must decide policy themselves, you have to take into account the impact of the actions on other countries, especially em's which are vulnerable to that. the market is anticipating another big rate hike next week. em are bracing for a further selloff. indonesia has anticipated that, it raised rates recentl

i am yvonne man in hong kong. new york. -- ramy inocencio in new york. yvonne: the first japanese startup to be valued over $1 billion. the successful push into the u.s. would make it a real unicorn. let's get to our asia technology reporter joining us from tokyo this morning. the biggest fed tech ipo in two years. built itself as a fleamarket app, but what does it actually do? fleamarket is a pretty good way to describe what happens. it is a very casual and easy way to sell used stuff. when the company launched in 2014 in japan, there was plenty of competition from online marketplaces. site,d japan's auction even craigslist was fairly popular. mercari focused on smart phones because their thesis was this untapped pull of people -- pool of people who wanted to sell stuff online and it makes it easy. it is a formula that works. the company had more than $100 million worldwide and 10 million active users. one who has described it to us as, selling on ebay is like putting up a professional storefront. while using mer

yvonne: i am yvonne man. you are watching daybreak australia.s, we will bring back david from cumberland advisors, chief investment officer. we like him, limiting bloomberg television. we have been talking about how trade issues are so important for the market. we heard that from the fed .hairman while he was in sintra it seems like it was a consensus view from these central banks that he is hearing businesses are delaying investment, delaying. it seems like it was a consensus view from hiring given the prospects of a trade war. you think central banks moving forward will have a completed job given that we have seen at the trade front? david: it is the most complex situation of faces -- that faces major banks. in new york we know what they will do, stay this long-term interest rate. it has its effects are you the fed now wants to normalize, whatever that means. they are looking at the economy with extended recovery. a look at the low unemployment rate. they want to get inflation a little bit higher but not a lot, and they want it for a little wh

i him yvonne man, welcome to "daybreak asia." toime yvonne man, welcome "daybreak asia."lly delivers, but cannot lift chinese stocks from a two-year low? the lira surging after president erdogan claiming victory. raising hope of economic private is him. -- privatism. haidi: just turned 10:00 a.m. in sydney. the u.s. and china are caught up in a game of chicken as the eu warns of breakdown in global rules. minister, ourme exclusive interview. yvonne: let's go straight to those live pictures out of -- where president erdogan is speaking to supporters in the city after what look like a decisive victory for him when it came to his party, as well as what we saw in parliament as well. erdogan talking more about coup plots, saying they have escaped to america. opposition.r the the big question still remains for investors about where the president will be taking monetary and fiscal policy moving forward after this election win. haidi: you speak about the opposition. the republican people's party had surprising support going into this election, but didg this -- defeat not think th

yvonne: i am yvonne man in hong kong. am -- 6:30 a.m.pictures of the president meeting with steelworkers in i presume, duluth, minnesota. this is on the back of what we commercem the u.s. secretary, wilbur ross, announcing the trump administration has begun granting first product exclusions from imports of steel. were 42 expedition requests being issued today, which cover seven different companies, including steel products in japan, sweden, belgium, germany, and china. seven of those companies received those exclusions. we also hear from the commerce department they will also be denying 8-6 steel exclusion request -- 56 steel exclusion requests. more on those lines coming through here. in the meantime, let's get the first word news. reporter: thank you. in new york, crude place -- prices climbed the most in more than a week as they worked behind closed doors to heal a production limit. crude inventories were falling last week by more than double the average estimate.opec prepares to meet indiana friday, the saudi ministers indicated they

i am yvonne man in hong kong.amy: i am remy innocence you in the two-day session, but they ended up as traitors wait up trade risks. joining us now is kirk hartman, wells fargo asset management global chief investment officer. kirk, good to speak with you. it seems like many investors still are not convinced the show is exactly over. >> the year of contradictions continue. the market sold off early this morning and then came back, and actually, i looked at it. it's pretty orderly. we have come a long way since may. since may 1, the market was up 6% to 8%. a bit of a selloff is to be expected. ramy: one interesting thing we have been talking about here was one index we don't really talk about too much internationally is the russell 2000, which eked out a record high. library.he gtv we can see exactly where the russell 2000 is. highest ever since the postelection surge. is this a safe haven play that investors need to know about? kirk: you have to remember that small caps trailed large caps by something like 800 bas

i am yvonne man. welcome to "daybreak asia." the top stories this tuesday, asian stocks face a shaky start. chinese markets set to return later. akenodities weekend on -- we on protectionism. mike pompeo calling beijing's claims of openness and joke. hyman in new york. this hour, oil climbs as opec considers a compromised output plan to head off an iran- led rebellion. to san francisco. a lot of concerns about trade arsisting and really causing divergence in stocks in the united states, so not everything selling off, but certainly groups and companies that are seen as being affected by potential china trade tariffs. they are the ones taking the brunt of it. that isit seems like the case. interesting, despite the rhetoric we have heard. president trump is watching this right now. is this giving more of a push to double down on trade? that will be a key focus for us when china markets reopened today. julie: potentially some traders hoping for an 11th hour of things going into effect. who knows? if you take a look at what happened

i am yvonne man in hong kong.nocencio in new york and you're watching daybreak asia. let's get the first word news with courtney collins. >> thanks so much. thefed has upgraded projected number of rate hikes this year to four as unemployment falls and inflation overshoots targets. the fomc raise rates for the second time this year with the chairman saying the main takeaway is the economy is doing well. he promised a news conference after every meeting starting in january. tfoster a public conversation about what the fed is doing to support a strong economy. one step in doing sis to have a press ence aft everyone of our scheduled meings. we're going to do thabeginning in january. that will give us opportunities to explain our actions and answer questions. >> the hong kong monetary authority has followed the fed, hiking its rate-25 points. shrugged offas u.s. monetary tightening but reality may bite as banks lending rates tick higher. pboceconomists expect the to raise its rates by five basis points after the fed ti

. ♪ yvonne: this is daybreak asia. i'm if a man. -- i am yvonne man.n: trade fears still dominated markets with asia suffer a big start after u.s. majors lost ground. we mean stocks, bonds, you name it. joining us from pennsylvania is vanguard group global chief economist joe davis. the basic, then u.s. treasury today. stocks looked like they were going to rise, bonds not doing too much. larry kudlow said trump was not retreating on trade, a rally ignited. why? joe: thank you for having me. we went into a year saying the fed was going to continue to march on a gradual tightening pace. we were hard-pressed to see 10 year treasuries breaching 3%. we were above that for some time, but it is reminder there is global forces at play. there is considerable risk and high valuation in parts of the market, equities. we will retrace. we still live in a world where between 2.5% and 3% on the 10 year is a fair value. kathleen: let's look at a bloomberg charge. we have the 10 year yield showing the rally. over the last few weeks, another gtv chart now, i will give y

yvonne: plenty more to come here on "daybreak asia." the man built starbucks into one of the largest empires is stepping down. this is bloomberg. ♪ berg. ♪ yvonne: 7:30 a.m. tuesday in hong kong. looking like it could get pretty wet at this morning. ramy: 7:30 p.m. monday here in new york. about .5%,se up by and gaining a bump from the jobs pushingack onriday, back against those fears about tariffs with the u.s. -- allies as well as with a possible trade war with china. i am remy innocence you in new york -- i am remy innocence you yvonne: in new york. first word news with jessica summers. thanks, yvonne. aider white house economic withheld the monthly payroll numbers from trump. held onto thehe information out of concern the president might comment on them. that indicated they would be favorable. president trump is stoking the debate about his powers and we did he has the right to pardon himself even though he insists he has done nothing wrong. this comes as the white house sharpens its defenses against the claim against russian meddling in th

yvonne: i am yvonne man.ictures real quick from this rally the president is embarking on into minnesota. duluth, he's talking about the immigration. this is on the back of him signing this executive order overnight to end his policy of separating undocumented immigrant children from their parents. lines coming through say voters should back the gdp if they want humane immigration policy and the border wall. he says it is still happening. covering a pretty broad agenda over the last couple of hours or so, reiterating his stance on trading relationships. he is saying other nations are not sending their best people to the united states and immigrants are however needed to help fill the labor market but should come on merit. he said earlier he expects gdp growth to go higher than 4% from now on and touched on denuclearization in north korea following that summit, saying americans are so safe now following his meeting with kim jong-un. we will continue to watch that for you with president trump there energetically

i am yvonne man. haidi: i am haidi lun. you are watching daybreak australia.et you to first word news with ramy inocencio in new york. ramy: good morning. president trump and kim jong-un are insight for -- are in singapore. they will be meeting at the secluded capello hotel on the island on tuesday. nuclear weapons are top of the agenda of course. president trump will insist the rth agree to dismantle its program while kim will demand the u.s. remove its own weapons from the region. the trump administration is stepping up its attack on canada, saying justin trudeau is heading to hell for crossing president trump. peter navarro said a nafta deal would have been agreed by now if canada had spent less time lobbying congress. trump left the g7 with a stream of tweets attacking trudeau and threatening tariffs on automobiles. >> there is a special place in hell for any foreign leader that engages in bad faith diplomacy with president donald j. trump, then tries to stab him in the back on the way out the door. that is what bad faith justin trudeau did with that stunt

yvonne: i am yvonne man in hong kong.as agreed to pay a record find that settles more than 53,000 breaches of money laundering and terrorism financing laws. once go to our editor frost really a and new zealand. take a look at this price tag here. double what cba was forecasting in terms of the settlement. how will this affect their bottom line? hit their going to bottom line by 700 million this morning, as we said, this is the to bet civil penalty ever paid in australian corporate history. the deal agreed between commonwealth bank and the financial crimes authority is signed up by the federal court, let's wind back and look specifically at what commonwealth bank has a knology. it has -- has egg knowledge. it has admitted 53,000 breaches and money and terrorism financing laws. these breaches revolve around intelligent deposit machines which cash is paid in anonymously into accounts and then can be funneled offshore. financial crimes alleged that many were being used by criminal offshore.ove money this is been very imbalanc

i am yvonne man. welcome to "daybreak asia."for games at the friday open after strength in u.s. tech and media and a dovish supplies from the ecb. focus shifts to the boj. i am ramy inocencio in new york, where it is past 8:00 p.m. on thursday. trump trade target, the president approves tariffs on chinese goods with tech said to be top of that hit list. and a crypto comeback? fccoin gets a boost as the freeze arrival from federal securities rules. yvonne: we have been following the week that was supposed to be the biggest in the year. we have seen a little bit of fallout when it comes to asian equity yesterday with the fed. the ecb delivering that dovish announcement to end qe. little bit seeing a of fallout when it comes to em effects. a look ahead to china trade as well, ramy. ramy: it certainly felt like that. all talking about something, but we are also looking at divergence from the fed. , nothing majoran is supposed to happen, but we will be looking ahead to the time. all of this also impacting emerging markets, yvonne. yv

i am yvonne man man and welcome to daybreak asia. trade tensions rattled markets.ts major partners face off. tech shares were hardest hit on wall street. the dow down almost 2% and the dollar also weaker. trump administration officials tried to play down plans to limit chinese tech investment on national security grounds but some american icons are feeling the pain. harley davidson

i am yvonne man. welcome to "daybreak asia." asia-pacific stocks look set for a mixed open. ecb week's meeting may discuss the end of stimulus. the bond through september. i am ramy inocencio in new york, where it is past 7:00 p.m. on tuesday. fight me mixed trade messages coming out of the white house. president trump will not jump nafta. he would prefer bilateral

where live from the asian headquarters, on the yvonne man. a come to "bloomberg daybreak: asia."asian stocks are set to advance as trade tensions are on the back order. -- back burner. slide continues. a bloomberg survey says authorities are perhaps intervening at a key psychological level. kathleen: and i'm kathleen hays in new york. just 7 p.m. on this thursday. the fed forces six u.s. banks to scale back payouts. deutsche bank fa

i am yvonne man in singapore. ramy: i am ramy inocencio in new york. remember, no sitting american president has met the north rean leader. yvonne: you know what? it is showtime. all the preparations are done. we have all that up to this, which starts in a few hours with a handshake between president trump and kim jong-un. it will be interesting to add to the suspense. this will be a one-on-one meeting between trump and kim. who knows how this will play out once the leaders are put in a room alone together. 9:15, local time, they are supposed to speak one-on-one just with their translators. a few hours later, if they can get to it, donald trump says he will size up kim jong-un in the first minute or so. they will have a working lunch at 11:30 local time to hash out the details. possibly denuclearization. before all that, let's get a quick check of where the markets close in the united states because we have to check that as well. taking a look at that, the dow was flat. s&p 500 up by .1%. the nasdaq up by .2%. really pushing a little bit higher as we lo

i am yvonne man. welcome to daybreak asia.y, asia-pacific markets signal a as traders but protectionism aside in favor of optimism. that move may not last as g7 leaders prepare to meet in quebec. ramy: from bloomberg's global headquarters, i am ramy inocencio in new york, where it is past 7:00 p.m. on a monday. apple takes a swipe at big tex rivals -- tech rivals saying data privacy is important.

i am yvonne man. ."ybreak asia the top stories this wednesday, asian stocks heading towards a mixed open. oils gains helping overcome simmering trade concerns. biggestimbing to the drop in almost two years. pressure on allies to cut its forces from iran. kathleen: i am kathleen haze in new york. president trump -- canada joins the e.u. in preparing new steel quotas in response to u.s. tariffs.

i'm yvonne man. asia."lines on wall street indicate a lower open in the asia-pacific, futures pointing to a slide in hong kong, japan, and australia. in new york.d the 10-year yield tumbled nine basis point in the matter of minutes. >> i'm ramy inocencio in new york where it is just past 7:00 p.m. on a thursday. z te is moving closer to a deal. aitics say it doesn't deserve

i'm yvonne man, welcome to daybreak asia.kets face a mute start after a listless session in new york. investors switch from the summit to central-bank decisions. ten-year yields rose and the euro well. gold and the yen are edging lower. ramy: i am ramy inocencio. at&t is to take over time warner. this will create a powerhouse to

i am yvonne man. ."lcome to "daybreak asia the top story this wednesday, u.s. from session lows despite the threat of a trade war, which struck a blow to chinese equities. six straight losses. treasuries rose with the dollar as traitors hedge risk. ramy: from bloomberg's global headquarters, i'm remy and inocencio -- i am ramy inocencio. also ahead, oil under pressure. potential opec output compromise ahead of fr

i am yvonne man. welcome to "daybreak asia."ries this tuesday, asian stocks face a shaky start. chinese markets set to return later. akenodities weekend on -- we on protectionism. mike pompeo calling beijing's claims of openness and joke. hyman in new york. this hour, oil climbs as opec considers a compromised output plan to head off an iran- led rebellion.

i'm yvonne man. asian stocks are facing a grin and to the worst week. investors while the benchmark heads toward the fourth largest decline. this turns into a war of worlds. the call trance -- trumps perform -- >> i'm ramy inocencio in new york where is just past 8 p.m. on thursday. oh back -- opec and partners are boosting output by 600 about -- 6000 barrel. thailand prime minister commits to long-delayed elections. our interviews coming up. >> the trade tensions are going up again and it seems at the u.s. is now catching on to some of this angst from what we saw during the wall street session. not as bad as we have seen most of this week already in asia. again, we wrap up at a pretty volatile week already. we are set for more selling today. >> u.s. markets did close off of the session lows and there is a glimmer of hope about the white house ring gauging but taking a look at where the markets more than twolow weeks and the dow is down for eight days in a row. a lot of investors are trying to get to the weekend. you are already almost at the weekend th

a wreck or sexy come from behind performance from qatar's top door after man who sprinted past a world champion it cost him yvonne home of norway to win the four hundred meter hurdles somewhere around the fastest event time in nearly a decade and set a be a diamond league record just time to remind you of our top stories this hour three months after the elections it italy i finally has a new government a new prime minister says he can't say i'm his cabinet have been sworn in by president maternelle the swearing in and was a turbulent week of political drama and financial turmoil. the european union has announced that it will start pursue to. things against the united states i mean to china of the w t o unfair trade practices a new trade commissioner says he said that new types of steel are aluminum i'm not inspired by u.s. amounts to protectionism. i don't forget you can always get d.w. news on the go with you can get access to all the bases to news from around the world as well as push notifications on the phone from you breaking news and also use it to send us your photos i'm videos you can download it from the