down in singapore as well. long story short, we are losing a lot of momentum heading into the european session. we are still up compared to yesterday. as you can see, msci has been range browned. -- range bound. $80 for oil. might be a problem for countries like india, for example, which imports a lot of its energy needs. japan very much in the mix. inflation coming out of china, a big mix on consumer prices. down about 12 points. the yen at a stronger level then it started out. trading at the 107 number. that is right, david. the big news from china, the new pboc governor says china will implement a range of new financial reforms this year. yi gang told a panel at the boao forum, domestic and foreign capital will be treated equally. yi added ownership restrictions from foreign banks would be removed in november and outside investment would also be encouraged. >> with this new, open door policy, i am confident china's financial markets will be more competitive, better regulated, and serve the economy better. it

in singapore, a healthy baby of page and health care, up to as -- in singapore, a healthy day for health care. up as much as 50%. opec andisters of non-opec stations are gathering in jeddah to discuss the global oil supply and production curbs. we have a guest who will shed some light on the plans of the assembled group. emery is here with us. emery? anna.d morning, just minutes before the ministers will meet from opec and not opec here in jeddah. thank you for joining us this

a tightening in singapore based >> for one thing, the singapore dollar is going to strengthen. it is already at about the highest in three years. that is the mechanism the central bank uses to implement monetary policy as the currency. we can look for strengthening. everything seems to be firing on all cylinders in the economy. steps to to be taking make sure there is not overheating. betty: they have some proper responses to what seems like inflation, at least on the upper edge. speaking of inflation and rates, what about treasury tenure yells renewing their push to 3%? of the pastcourse syria,he tensions over the tensions between the u.s. and china over trade, these have supported trade. now these things are going away. that fed officials are more optimistic on the economy. they may be leaning towards faster pace of rate hikes. we also saw current cpi rose, some of the things keeping yields down are going away. the economy is still seeming to be in good shape. i think the 10 year yield can renew its push toward 3% again. yvonne: we have seen oil rising on the tension we have

down in singapore as well. long story short, we are losing a lot of momentum heading into the european session. we are still up compared to yesterday. as you can see, msci has been range browned. -- range bound. $80 for oil. might be a problem for countries like india, for example, which imports a lot of its energy needs. japan very much in the

you are currently in singapore, malaysia, thailand. i can't help but notice you are not in the philippines. i'm not asking because i'm filipino, but it has been one of the fastest-growing economies. is there any specific reason you are not? >> when you take a market approach this is something we are evaluating. in our sector it is far more important to be strong and valuable in a particular market rather than putting out a bunch of beachheads. a strong market leader in singapore, and in malaysia we caught the market leader last year. we are much more interested in creating a certain scale so it works for the consumer and seller. >> i will to talk about your fundraising plans. there was a lot of talk about rt away. >> ipo is always a means to an end in my mind. we have spent the last few years focusing on profitability and this year we will return to profitability as forecast, with growth of over 20%. ipo remains as one of the options we look at and we are proud of the fact that we have been self-sustaining. we have a strong and constru

singapore with its rate decision or tweaking earlier today. sophie: friday the 13th looking lucky for stocks. trump chatter about a return to the tpp is good for japanese equities. troubles the us -- kuala lumpur under pressure. u.s. futures pointing lower. let's get a closer look at the singaporean dollar reaction to policy,tightening retracing, but set for again. citing macroeconomic uncertainties remain. the singapore dollar has added 10% since january, now trading level trump' strongest since 2016. we are keeping an eye on property stocks given the backdrop of rising home prices and efforts to cool the sector. ,ome prices seen accelerating supported by a shrinking pipeline and demand from local and overseas investors. have arean investors stronger than forecast gdp print to consider. we saw growth of 1.4%. one company has fallen to a 2016 low. no decision has been made. pension funds have stopped trading with the brokerage after the dividend payout that saw $105 billion in paper value sold. rishaad: thank you for that. happening out what i

joining us from singapore. coming up, malaysian prime in hisr speaks with us first international media interview in three years. we will get his point of view on the nation's budget. also, bank of japan announcing its latest policies. we had to tokyo next. this is bloomberg. ♪ ♪ rishaad: the timeout here in 10:16, and we go to tokyo where we are counting down to today's bank of japan decision, the first meeting .etween the new fed governor he was vocal before he joined the board. does that still hold true? we are joined by our global policy and economics editor, kathleen hays, who is outside the bank of japan. take it away, kathleen. kathleen: thank you so much, rishaad. very specialy a guest, as we count down to the decision.pan's policy no big changes expected, but where the bank is and where it is heading is very important to investors around the world. i am happy to bring back our att guest, portfolio manager alliance burstyn here in japan, an avid follower of all things boj. great to see you again. let

gloom skies over singapore. asia-pacific down by 2/10 of 1%. lackluster response perhaps way mixed positive set of data from the chinese economy. here is ed ludlow. ed: the u.s. government has said zte violated the terms of the sanction settlement and has imposed a seven-year ban on purchases of crucial american ztecompetitive. the national security center warned the country's companies that national securitytechnologt risk by using equipment and services cannot be mitigated. the stock is suspended in hong kong. netflix has posted strongest subscriber growth since going public 16 years ago. the company added 7.1 million users and that first quarter of the year. that is despite raising prices for most of its customers over the last few months. netflix shares rose in

singapore up over 2% today. investors assess the potential impact from china's proposed tariffs on u.s. soybeans, accelerating gains to the end of the morning session, adding 1.6% on fading trade woes. when you look across the asian sectors, we do have health care leading the charge, so asian stocks rebounding from a seven-day low and we do have agendata points on the when it comes to the economy. you have rates at noon while malaysian shares are rising the first day and four. we are waiting to see if i limit will be dissolved as early as this friday as is speculated. before-day drop on the aussie dollar on the back foot despite talking this morning. tech and materials lead gains. we do have this decline in the now steady this morning. let's look at some korean auto-of related stocks. korean car exports fell over 10%, as the production. this does not bode well for growth forecast as the auto sector lags. hyundai posted a 16.5% on-year decline. 11.5eliveries fell percent. those stocks have been under pressure thi

a singapore firm agreed to spend 3 billion euros to boost its stake in a drugmaker's planned takeover, sending shares up by 2.7%. after the purchase

mark joining us from singapore. a pretty measured response, mixed but measured response in asia in the equity session as we get these jabs, the threat of retaliation in-kind out of beijing for the u.s. trade tariffs. mark: absolutely. these are not new measures, just the details we were waiting for, measures that were announced last week, so kind of good that asia has not panicked, has not overreacted. a sensible reaction given that these are not new. overall bulls will be slightly discouraged by the relatively minor bounce across u.s. markets and global markets. the overall theme, lower highs, even though we see greater losses each day. we will continue to be in this volatility the next couple weeks as we get both positive and negative headlines in trade, but overall, it seems the direction of the volatility is bigger losses rather than bigger gains. haidi: peter navarro talked about buying the dip. is that justified? mark: it is very bizarre to have a u.s. white house official specifically recommend trades, and it

. ♪ >> its monday in singapore. friday. closer to david: morning session in singapore. welcome tog kong asia.erg market there is no trade war. president trump says china will barriers because the thing to do. haslinda: fears of tension oil.ng david: congressional budget office prepares to release its deficit forecast. mean see what that might for the bond markets. haslinda: all change at deutsche bank. christian to -- david: shanghai compose sits and yen.r here's your picture 17215. er.rd of one percent high seen cascade lower lighter volumes. slightly.have 279 is the pricily. we'll talk supplyout lot of the coming through this week. it's the details coming out of office andal budget sort of the trade tensions like aluminum for example. posted 2100. that come down to russia sanctions there and perhaps how when itht play out comes to supply for in metal. new york crude, with etalked this. there's been reversal of in --oning here >> investors remains. keeping eye where the chinese market is. it is the first time that china reaction after being away from the market for abo

singapore would perhaps be better for security. yvonne: i wonder if we will have the diplomacy that we saw between macron and trump we saw last week. they, aill they or want deal with t-mobile and sprint. t-mobile is going to buy sprint for more than $26 billion. nabil, this five-year deal has finally come together. >> it is a good day. this has been a long time coming. time he is third acting on his longtime desire to combine t-mobile and sprint. wireless environment is changing rapidly. if they did not do something quickly they would be left behind by at&t and verizon. you also have comcast trying to monopolize the market as well. betty: how good a deal has t-mobile gotten for this? >> t-mobile is the stronger of the two and they will get to andnate nine board members sprint will have four. they get their own management team. sprint has not turned a profit in more than 10 years and is laden with debt. this is a bit of a bailout for them. the deal is skewed towards t-mobile and i think sprint shareholders will be pleased that this

clive mcdonnell, from standard chartered, joining us in singapore. remember, bloomberg users can use the bloomberg, catching up on key analysis. delivered to ♪ ♪ back.are >> a quick check of the latest business flash headlines. southeast asia's largest lender revised first-quarter profits to beat estimates thanks to higher lending and wealth revenue. 26% from aclimbed billion,ier to $1.5 just over $1.1 billion usd. return on equity surged to the highest in a decade. >> noble group says it will go ahead with its plans despite being blocked by the singapore high court. they will be opened but immediately adjourned. ordersponse to the court they say is materially misleading. confirms the hong kong owned company is said to ud.er $1.2 billion a about $900ncludes million for upgrading the plant. history -- kima jong-un became the first north korean leader to cross into the south. moon jae-in did briefly cross over to the north. this is all part of a charm offensive, setting he will shut down his nuclear test site. that is next. ♪ retail. under pressu

this is bloomberg. ♪ 8:30 in singapore. have fought -- half an hour away from trading in singapore. betty: i embed here in new york, you are watching "daybreak asia." let's get to the first word news. ramy: u.s. to announce new sanctions on russia on monday as they assess missile strikes on syria. the measures will be aimed at company deemed to have been working with president assad and his president -- and his chemical weapons program. america has sent a strong message and everyone is going to feel it. president trump the cleared "mission accomplished" after those attacks. in support for the abe government has fallen to a record low according to a poll conducted over the past three days. his cabinet has the backing of the 26.7% of eligible voters. the first time it has dropped below 30% ever sense abe came to power in 2012. the end went his falling support after a series of scandals linked to the prime minister. in china, the country is going to raise the profile of the sportsby encouraging lotteries. this in a move that sources say main eventually see casinos on the mainland for t

i would expect -- singapore now. rejoining the tpb and toning down the rhetoric, why not a bigger bounce in asian equities? would have,robably but we had a little confusion today over the chinese trade data. there was expected to be some seasonality, but it turned out we caught a big deficit for china which no one was expecting. the australian dollar has had a very good day, so at least australia believes it is real but there is an amount of skepticism around asia as to whether or not these numbers make sense. that has put a damper on the china and hong kong equities. because theyg fine are looking toward abe and trump meeting next week and they are optimistic there would be good news on trade between those countries. a mixed picture, but at least aussie dollar is having a great day. currencies, of where singapore goes, do other currencies following asia? yes, that's usually the case. singapore is confident on the outlook, strong economy, they expect inflation to pick up a little more and for the first time in severa

with the latest in singapore. christian schulz, if we take the chinese story, david milhouse has written a piece this morning . the chinese are already taking a little bit of risk off the table t tothemselves, reducing va 16% for some big industries on the manufacturing side. so they are taking a few measures to balance industry and the consumer. the question is, they're taking preemptive action, in case things do get a little bit out the bestwhich is not case scenario at this juncture. christian: chinese authorities have been very good at micromanaging the cycle. if there was a risk, they would boost the economy using regulatory means. i think they've been doing this very effectively. that's always the underlying assumption for the future as well, that they will be ever to continue doing this. all are on the on chinese growth is quite benign, which is reassuring for me as european economist. we depend so much on chinese growth as well. that also means that if something does go wrong, if for instance the debt prob

joining us now, td securities senior market strategist joins a set of singapore. great to see you, thanks for coming on the shore. i wonder whether we can say this recent dialing down in geopolitics is perhaps behind the recent move up at the long end of the yield curve. true.part, that's certainly we were in an environment for several weeks of the flattening of the yield curve. markets as now moved toward pricing in almost four hikes, or toward four hikes, and we are seeing it being built on the long end. i think that's a trend that 3%,inues, psychologically at the moment the pressure remains and some of the dialing down in tension and risk aversion may be having some impact as well as expectations of continued strong growth in the u.s. fiscalnow, we have the deficit which will be substantially increased because of tax cut so all of this is playing negatively for treasury deal. -- treasury yields. it is hard to say a move sustained above this 3% level in u.s. 10 year. >> i was about to ask you, just this morning, australia sold 2029 bonds at 2.89%. that, can weik

singapore, taiwan, malaysia, just coming online. sophie, it was a challenging quarter for markets in the first quarter of the year. we see a better start to the second quarter? sophie: looks like investors are breathing a little bit of relief here given the gains we are seeing across the region. with gains this monday, joining the major market, korea and japan. although we have seen some of the gains in tokyo ease somewhat. regional seeing benchmarks being led higher by korean stocks gaining .7%. akkei 225 starting on positive footing as it has done so in the past. april with an average gain of 2.4% in the past 30 years for the nikkei 225. goldman sachs saying to pay careful attention after a volatile right through the nikkei 225 has risen on the first trading day of each month from july 20 16th to this february. take a closer look to what is happening when it comes to korean sentiment. the korean won rising to the strongest level since 2014. this after china said ties with seoul will improve. adding to its best move since november.

juliette saly in singapore. hours, the four social network has said the number of users -- facebook has said the number of users impacted the cambridge analytica scandal could be as high as 87 million people. that is the number of profiles of all of facebook's 2 billion users that could have been scraped. we spoke with coo sheryl sandberg with her thoughts. >> i feel deeply personally responsible. there are real mistakes that we made. when you take a step back and think about what happened, for a long time we were focused on building social experiences. a lot of good happened the cousin of them. when we saw problems, we would shut down that problem. the specific case of the sharing that happened is one that was shut down in 2015. what we didn't do until recently, and what we're doing now, is take a broader view, looking to be more restrictive in ways they could have been these deuced -- data could have been misused. we did not build products fast enough. we had 10,000 people working in security. at the end of th

joining us from singapore, peterson, a global strategist. i want to start off with this key technical support falling overnight. is dipping below the 200 day moving average. g #btv 339. , flirting with a 50 day, the 100 day, the worst of the year's rout. is this significant to you and does it suggest this is the start of another leg lower? >> always a pleasure being on. absolutely, the technicals are looking worse as you have shown. you even pulled further back. it really gets close to the 200 day. we close at about 10 of 2582. the 200 days are closer to 2589. it's even worse if you look at the nasdaq. text have been the leaders throughout this bull market, the ones that have taken us up to the sky and the ones that will take us down lower so that is a much more significant technical picture in development. angsou look at the f and tech stocks, it's extremely bearish. i want to talk, you know, in-depth about what is happening with the tech sector with the fangs. it's not just the technical is when you look at these charts. it's the fundament

yvonne: it is a: 30 and a sunny singapore. -- 8:30 and a sunny singapore. i'm yvonne man in hong kong. betty: i'm betty liu in new york. you are watching "daybreak: asia." let's get to the first word news with paul allen. paul ryan says he has no regrets about retiring, saying the republican party has achieved a great deal during his time as speaker. his teacher had been the subject of rumors for months. exit.ns the more than 40 gop lawmakers either resigned or are not seeking reelection this year. it reached 785 at the -- as the asian trade started the day. they are obliged by the dollar. such purchases would push up interest rates. directearch shows investment between the u.s. and china fell 28% last year from 12 months earlier. that was driven by a drop in chinese investment to $29 billion. u.s. national security officials clamped down on chinese acquisitions of american come in these. tesla has again blamed the driver for the deadly crash in coliform you. the accident happened -- in california. the driver was not paying attention to the road, despite th

in singapore, a healthy baby of page and health care, up to as -- in singapore, a healthy day for health care. up as much as 50%. opec andisters of non-opec stations are gathering in jeddah to discuss the global oil supply and production curbs. we have a guest who will shed some light on the plans of the assembled group. emery is here with us. emery? anna.d morning, just minutes before the ministers will meet from opec and not opec here in jeddah. thank you for joining us this morning. ?s the glut gone that is what everyone wants to know? >> no. >> no? >> in my opinion. >> should the cuts be extended in 20 18? >> we will review in november, when the current agreement expires. >> what kind of for puzzles are being discussed on the table, if you were to extend the cuts. we do have to exchange the five-year average for the 10 year? don't know how opec works, but from my perspective of the program, i think we need to look into the supply regularly, it is a very dynamic issue, very fluid. production comes from all sources, we have u.s. shale oil, we hear that it is ever increasing and product

. ♪ ♪ singapore -- in 8:30 in singapore. the line city could be joining the equity balance that we saw starting in the u.s.. we are going to open up trading. i'm yvonne man in hong kong. ramy: i'm remy inocencio in new york. you're watching "daybreak asia." let's get the first word news with paul allen. paul: the trump administration has indicated it is willing to negotiate with china as trade tensions escalate. china announced reciprocal tariffs on u.s. products in line with the $50 billion of duties ordered by president trump. china is targeting soybeans, automobiles, chemicals, and aviation. it will take effect when the u.s. institutes its own tariffs. >> china will not back off from its 2025 program. they are going to work hard irrespective of american tariffs to make sure they develop the economy and future technologies. we are not going to be able to slow that down. some of their practices of pursuing that 2025 are not fair, but a lot are fair. we have to start developing our technologies at a much better pace. paul: f

yvonne: a: 30 in singapore we are -- 8:30 in singapore did not just half hour away from the "head on your yvonne man in hong kong. julie: it looks nicer everywhere else than in new york. i'm julie hyman. you are watching daybreak asia. let's get the first nude -- first word news with tom mackenzie. tom: australia's government says it is increasing criminal entities for misconduct. the legislation is to be passed this year. it includes prison terms of up to 10 years. the powers of the australian security and investments commission will also be increased. the announcement comes as a royal condition -- commission investigates the banking industry. this is very disturbing and shocking. these issues while as a foreign as they are, our complete -- as of lawrence as they are a separate that is rocksolid. tom: hong kong's constant defense is starting to affect interbank rates. the monetary authority has bought $6.5 billion worth of the local currency in one week after it the weekend of its trading band for the first time since 2005. that cut into liquidity by about 30%, pushing three months

thank you very much to juliette saly in singapore. let's update you on the relationship on softbank, they were in talks about taking a stake. we thought softbank was going to make an offer for a 25% stake. that was reporting around the story. softbank's stake is not expected to exceed 10%, which is interesting. they are talking about them .inority stake they are saying issuances of capital is not under consideration. talks remain at an early stage. they explore a potential strategic cooperation. they are limiting expectations to the softbank stake that they could take in the swiss re giant. manus: that is not the only deal. you got france, a $15 billion deal, american aig in january doing deals. there is a flurry in the space. the big story is on trade, on paris and the u.s. techtake an aim on china's industry with a tariff list. we have 25% tariffs that will hit $50 billion of chinese products ranging from semiconductors to flamethrowers. china condemned the move and said it will respond with the same intensity and scale. this get to

haslinda amin in sycamore -- in singapore. haslinda: jerome powell says the outlook for inflation and jobs supports the plane for gradual rate hikes while they like of rising wage gains shows the labor market is not tight. in his first speech since becoming chairman, he said policy makers still aiming for 2% inflation and will maintain the current strategy of slow but consistent hikes. it remains the case that raising rates too slowly would make it necessary for monetary policy to tighten down the road. which could jeopardize the expansion. too quicklyrates when increasing risk that inflation would remain persistently below are 2% objective. and our passive gradual rate increases balance these two risks. haslinda: the united states says not. is willing to talk about nuclear weapons when president says kim jong-un. sources tell us washington has confirmed cam is ready to discuss the issue, following initial indications from seoul. cnn reports the u.s. and north korea have been holding secret direct talks to prepare for the summ

manus: thank you very juliette saly in singapore. is keeping its policy rate unchanged when it makes its announcement today. mario draghi will face questions about the euro area growth, which seems to be losing momentum. some of the money managers are expecting from the ecb president. the plan for unwinding the plan for unwinding stimulus, markets have gotten ahead of themselves time and time again. we do not see this differently. >> will they be synthetic to the slowdown in the economy? the surprise now is if it kicks in as a hawk. >> we think the ecb remains easy in their stance. growth globally has a toad or peaked -- growth globally has plateaud or peaked. >> we will have a sustained area. i do not think that is necessarily dependent on whether the fed goes three or four times. >> they like optionality end two-way risk in the market. that is likely look draghi is likely to do. keep the market on its toes. now, froming us blackrock, a great voice to have on ecb date. -- ecb day. have a preview of the ecb decision, and it talks abo

. ♪ 8:30 in singapore. opening of trading in the lion city. some of the major benchmarks are still close. hong kong, australia and new zealand this morning. betty: a little cloudy there it seems over in singapore. you are watching "daybreak asia." let's get to the first word news now. ramy: over to china and the country's response to president trump with terrorist targeting what it 100 types of imported u.s. goods. that includes port and good -- and fruit. the decision has been taking the full approval of the state council. china says it plans to seek compensation for trade lost due to that u.s. action. president trump spent easter sunday on social media posting a series of tweets calling for the end of the dreamer policy that protects the children of illegal migrants. entry messages he said border control agents could not work properly because of "liberal loss" pass by democrats. he blamed mexico for not stopping people for entering america illegally. he threatened to dump nafta. k pop played a role in the foreign relations between north and

thanks so much, juliette saly, in singapore. kim jong-un has become the first north korean leader to enter south korea. he was greeted at the border by moon jae-in ahead of a historic nuclear summit. talks got underway in the demilitarized zone. a new history of peace and prosperity. >> there are a lot of people hoping for the best results. i am worried we will disappoint them if we don't follow-up on good agreements from past meetings and do not make this meeting the opportunity to improve our relationship. anna: stephen engle an watching the drama unfold from unification bridge. give us the context here. this is historic for many angles. this only happened a few times since the 1950's, hasn't it? third timeis is the the leaders have met. the first time in 11 years, but this is the first time north korean leaders ever set foot in south korea. front of then railway bridge that goes into the demilitarized zone and the shuttered gates of the industrial complex. off-camera is the unification bridge where moon jae-in and his motorca

so that will be a stock to watch when trading gets underway in singapore. betty: we will have much more ahead on dbs and talk about the other financial sector. this is bloomberg. ♪ this is bloomberg. ♪ ♪ betty: goldman sachs says the aussie dollar has been a celebrity to decline through the rest of the year, $.72 falling. i want to bring out our forex rates reporter. what is spurring this view by goldman sachs? a big part of it comes down to rate differentials between the u.s. and australia. you have the biggest economy chugging along at a fast pace, and at the same time you have the fed looking to raise rates at least twice by the end of this year. 10,000 miles away in sydney you have the rba looking to step past rates. the goldman said inflation will not be a worry for the rba, and it will be sluggish wage growth, but not like we will hold his hand on keeping rates up, and as a result you will see the aussie dollar falling down to $.72 u.s.. paul: what about bond deals in the u.s.? reporter: those are heading north. we saw bond yields touching 3% fo

let's get to our forex reporter in singapore. david, if we look at this as a broader metals inflation question driven by micro fundamentals, does that mean it will not be sustained? ralliednk metals have related to sanctions. if sanctions stay in place, metals may maintain these levels. , therms of inflation budget deficit in the u.s. will increase to 120 and dollars -- $1 trillion by 2020. i think the inflation trend seems to be moving upwards. we are seeing that in the tips data at the auctions. strategist saying the dollar is behaving like a currency that wants to go higher , so do we expect this to be the strengtha period of for the dollar? >> if the yield curve can , there are expectations of fed rate hikes. if the 10 year can move higher and steepen, the dollar can get stronger. if the 10 year yield decides not to move higher, the auction becomes key. if there is risk off because of trade wars and money is sent into the 10 year, reducing yields, the dollar may weaken, andhe dollar is key reaction will depend on how to perfo

including key markets of hong kong, china, and singapore. trading in new zealand just underway. the futures in australia, however, also pointing lower by about .25%. the aussie dollar showing ongoing weakness against that resurgent ringback. but get a quick look at commodities as well. we saw crude oil pushing higher again. this is on news out of israel that iran may have lied about its nuclear programs between 1999 in 2003. ongoing weakness in iron or, gold pulling back a little bit. aluminum not on the board but the recovery is ongoing. get the first word news. jessica. that it hasael says proof that iran has been chasing nuclear weapons. thousands ofcured documents that show tehran lied about an operation called project him on that goes back to 1999. they say israel was rehashing old scenarios and some analysts say they are repackaging old information. alibaba is warning that the u.s. will suffer in any potential trade war with china. speaking at the milken conference, founder and vice-chairman told bloomberg that beijing will retaliate against american tariffs and both sides

you so much, from moody joining us from singapore. remember bloomberg users to interact with charts using the gtv function. you can browse, just like that. catch up with key analysis, future references. this is bloomberg. ♪ ♪ rishaad: this is bloomberg markets, i am rishaad salamat. having a look at the latest business flash headlines. a japanese convenience store says it will increase as it looks to draw in more revenue from an expanded american presence. byected to go up this year $3.9 billion. the company completes the purchase of many stores in the u.s., also promising a new smartphone payment at next year -- payment app next year. >> it is not just retail, other industries such as auto in the financial sector are affected by the waiver known as the amazon affect. digital strategies are in our future. it does notigo says have the capability to buy and turnaround the national carrier, air india. indigo had expressed interest in purchasing air india. it now says that option is not available under the terms of the government

p in singapore. while americans shutting down the regulations in brazil which is leading to higher pressure. let's get to the first word news with jessica summers. jessica: thanks. the trump administration is said to be pushing for the u.s., canada and mexico to reach a nftafta deal. p in singapore. that could be announced at the summit of the americas in peru. negotiations resume in washington this week to reach agreement on significant remaining differences that would allow the president and leaders to make a positive statement while the technical terms or hammered out. fell flat. cash reserves under pressure amid the long running pressure to build the sedan. tesla may need to reai as much a $3 billio -- taise as much as -- raise as much as $3 billion. output is still below target. to get overakers listed tech companies back home. he added his back into the plan to allow companies to trade abroad. he describes the plant as a great innovation. xiaomi is said to be preparing an ipo could be the bigge

let's go to singapore with juliette saly. juliette: apple is said to be planning to use its own chips and mac computers beginning as early as 2020, replacing processors from intel. according to people familiar still inplan, it is the early developmental stages. it comes as part of a larger strategy to make all of apple's , ipads, including macs and iphones work more seamlessly together. apple declined to comment. 21st century fox has offered to sell sky news to walt disney, and that seeks to win over u.k. regulators. fox said disney has expressed an interest in acquiring sky news, whether or not it's takeover goes through. the channelproposed sailed to guarantee editorial independence of the operation, and said it -- musicrld's biggest streaming service spotify goes public today. --t week, for analysts according to data compiled by it hit 193 dollars, implying a 45% premium to wear shares are traded in private transactions. spotify indicated the low and from thes price range start of the year to march 14. that is your bloombe

we have someone from the bank of singapore joining us and no shortage of trade and tech inc. right now. ? ere do we go now he was recommending a couple weeks ago about domestic and looking at companies in southeast asia. one of the markets he is looking at that could be more shielded from these trade conflicts. something to ask about where he thinks things will go from here. betty: and speaking of trade and the currency, we will speak with someone from bank of america merrill lynch, head of japan economics. how the yen might be biting into japan's economy. we will see more of that and the top conservative coming out in the next hour. how much is the currency strength really crimping the japanese economy? haidi: haidi: currency and trade continue to play out when it comes to the china micro outlook as well. we will talk to a senior emerging markets economist, something of a split in the markets saying you look at equities and bonds, they are suggesting we will see economic slowdown. the pmi sort of trade data when it comes out of china looks fine. we have got to take that pmi

let's get over to singapore and ubs. of resilience in that second day of gains and wall street with the s&p pushing through that 100 day moving average. what is the resilience of the market to you feel? i think the s&p 500 is likely to do well. if you look at earnings growth, , you'ree tax reforms looking at close to 15% for the whole year. if there is any weakness or sharp selloff, investors will likely pick up stocks and reinforce their positions, but some positions are largely because of short covering. there were a lot of short positions in the second week of march. any rebound in the first weeks of april was largely because of short coverage. season a strong earnings to make sure the recovery is sustainable. look at this to chart. counterintuitive. we have the weakest reading when it comes to sentiment in two years as we get into what is expected to be a blowout earnings season across the board. do you look at this chart and say fundamentals are being or this is actually suggested that it is a good time to get in af

it is a gray singapore. you might expect that we see more positivity in the asian equity session given what we are things to be positive about. moving all the way up for all let's takeeasons and a look at the market. i thinkshade lower and that there is a little bit of an angst out there. these.e all of technologywith no issues is juliet. how are you doing? >> i am not sure about that one. beating estimates and good momentum. it is investment bank and global growth management that can be lower because of seasonal factors. from this.ill hear walmart is close to finalize a deal to buying a majority stake according to people familiar with the matter and this could be completed in the next few weeks. all of these are after the earlier debate with amazon. walking away from the pending acquisition of acorn after they found problems with products and developments. company for u.s. they reviewed acorn operations. down.as turned that is your bloomberg business flash. >> that was the business flash. theresa may is bat

in singapore, features are joining and we are seeing stocks edging lower -- 8:30 a.m.. i am yvonne man in hong kong. betty: and i am betty liu here in new york, you are watching "daybreak asia." let's get to the first word news. paul: buddy, china is said to be evaluating the attention impact of devaluing the yuan. we are told that senior officials are studying option that looks at future trading negotiations and also, what could happen if the values would offset any impact on tariffs. reports from china say that alibaba chairman jack ma is planning to abandon his commitment to help create jobs in the u.s. if the trade spat worsens. he made the threat on the sidelines of the forum in hainan. the alibaba bosma the president in january last year and he had said that he planned to boost retailers in the states and help create up to one million jobs. beu.s. deficit will topping $1 trillion two years earlier than expected. it is said that the new trump tax cuts will grow the deficit while doing little to boost long-term economic growth. u.s. interest rates hit 2.4% by the fo

matt: good morning, 7:18 in berlin, 1:18 in the afternoon in singapore. equity indexes across asia doing quite well after the korean announcement that we had on outay and the tech earnings of the u.s. let's get more in the bloomberg we go to lash, juliette. >> confirming a bloomberg report in the companies were discussions, according to people familiar with the situation, largest would be the shareholder in the combined 40%.y with a stake of over epresentatives defined to comment. kevin joins us after 7:00 a.m. u.k. time. t-mobile is to buy sprint for billion that they can team generation a next wireless network. or won't they talks. c.e.o. of will be the new operation. up the wireless sectors through innovations. and later on bloomberg, 4:00 p.m. london time. xtending the transformation by launching a dedicated unit. it is tapping into the growing demand for flight. samsung, l.g. electronics have vietnam into a major prompting ng hub largest growth. now things and, yes, we past past lth, the is planning to extend tariff exemptions for country but not at

also talk about where he would hold the summit, including seminal -- singapore. holding the summit in the summit d.c. --piece house on the u.s. can vouch for and iran -- one hundred percent right on iran -- iran. messageld be the right to send to north korea or for more analysis, let's playing in bloomberg national security from the white house. let's go to bill first first of all because president trump talking about they are open for a real agreement. the iran nuclear deal p are not saying whether he will stay or leave. mean?ould that >> he offered some praise for the prime mister netanyahu positive presentation about the files they found. he did open the door to try to talk about a better deal. leaders have tried to convince the ministry to stay in the iran nuclear accord. thatt on initial agreement would perhaps satisfy the president-elect's complaints. it is not clear if he is talking about that or a broad agreement. the iran nuclear deal, we never call it a treaty. it was never authorized by the senate. it was something that was presented without congressio

joining us from singapore. the big question will be our chinese bonds a better buy than chinese stocks, that will be the big question after a series of mixed signals from the u.s. overnight, a-shares broke of four day losing streak. asia's worst performer outside of the philippines. let's get to our chief correspondent stephen engle. aephen: there has been flowing into bonds but traders becoming a little adverse to risk right now given the trade frictions going on. you can see it reflected in asia and the stock links to hong kong. let's bring up the boards and we can see the shanghai composite index down. down 13% since the high of this year in january 24. it has fallen in four of the past five sessions. it did break the four day losing streak yesterday but there is some negative bias, shenzhen deposit same thing. of the last for out five sessions. the stock link, mainland stocks,s sold 584 u.s. the largest winning streak since the shenzhen launch in 2016. this could weigh on regional equities. yvonne: and hong

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joining us from singapore is mark cranfield, bloomberg's mliv strategist. let me ask how seriously you take these president -- promises from president xi. he and other chinese leaders have in the past promised more openness and just the opposite has happened. robert kaplan was saying these things will not happen overnight, it will take time for them to be put in place and he is an experienced person when it comes to dealing with asia. you can see china doesn't really want to have a trade war with the united states, so it is in their interest to keep moving in the right direction, to gradually open their markets and the things they talked about today are all things that are very doable. they are all things they can achieve within a few months if they really set their mind to doing it and so shortly, that is what china will try to do. xi jinping is trying to talk over the heads of the united states to the rest of the world. he wants to keep the global trade environment going and wants to get support from europe and other parts of the world, and he did a good

i'm hopeless the element -- haslinda amin in singapore. he is the cofounder of airbnb, a billionaire several times over and still in his mid-30's. airbnb has locations in nearly every country of the planet. he is today's high flyer. atancially self-sufficient 14, able to pay his own way through harvard, nathan always a new he wanted to be an entrepreneur. the company started in 2008 is now valued at more than $30 billion. a chief strategy officer at airbnb, nate overseas operations at the company's san francisco operation. we spoke to him about the sharing economy and how it further shapes our lives. ♪ welcome to high flyers. model that was never meant to take off. it was against everything your parents taught you. never bring strangers into your own home but here you are as one of three cofounders. >> this did not start with big business ambitions. we were solving our own problems, which is, how to pay the rent. we were roommates in san francisco and in the summer of 2007, the rent on our apartment was raised 25%. i said that is too exp

in singapore and half an hour away from the open of trading there. let's get to first word news with ramy. ramy: the u.s. trade representative has issued a list of chinese product worth $50 billion that now face new 25% tariffs. this covers around 1300 proposed tariff lines including aerospace, i.t., communications technology, robotics, and machinery. it will face further public review before any final determination. china says it firmly opposes the measures and will retaliate in kind. the worlds biggest ad agency said it is appointing an independent counsel to investigate allegations of cooonal misconduct against martin sorrell. reporting a possible misuse of assets by wpp says the allegations do not involve anything material to the agency. he rejects the allegations "unreservedly." thanook has removed more 130 accounts on the social network and instagram that were controlled by the russia-based internet research agency. the pages that had content were targeting people in russia itself or a neighboring country. a facebook says the investigation into

mainland china, south korea, as well as singapore shattered as well. it is looking like a muted session given the fact we have the shut markets across the region. looking at new zealand this is what we're seeing so far when session. o the kiwi pretty much unchanged. a little down with the kiwi stocks, u.s. dollar extending those gains in the overnight session. trading in australia starting in about an hour's time. the aussie dollar largely unchanged. r.b.a. will keep rates on hold for a 20th consecutive meeting. futures going into the sydney open a little weaker as well 0.3 taking the tail winds from the u.s. session there. also looking at some head winds when it comes to u.s. futures as well when it comes to trading in japan coming back from the holiday, chicago futures last traded pretty much flat there. a little bit of support at 0.7 higher. this is bloomberg. ♪ >> when you have problems with wh do you ever communicate directly with god? >> all the time. we used to say it is a local call but the internet changed all that. >> the ironian deal. what

we have our lives strategist mark cranfield in singapore. mark, just watching the tech selloff, is that the biggest source of concern in the market? and trade areech the two things people are most worried about. there have been concerns about major tech companies. it started with facebook and seems to be spreading to amazon as well. companiesery major and they have an influence on the market. china has retaliated with some trade measures of their own. who knows where the u.s. china trade standoff will go? it is important for global markets. if china and the u.s. cannot agree on how to do trade with each other, it affects everybody in the world. people are watching that very carefully. so far, the numbers involved are not that huge. you do not really know where it can go. it is a very predictable outcome. -- and unpredictable outcome. unpredictable outcome. yvonne: what is the explanation there? >> it is partly because over the , as they made such fantastic profits, they were able to retain a lot of cash on their balance. i do not need to bor

in singapore, the sti is lower by one third of a percent. by retailbe preceded data and first quarter gdp numbers. goldman says that the strong underperformance in philippine stocks over the past six months is the main reason for that neutral upgrade. the stock market is the worst in the world and it is the biggest in asia in 2018. goldman also cutting korean stocks to market rates with all markets except korea seeing an improvement in earnings. this is plunging losing as much as 14%. charge.r is leading the they announced a reverse stock split. this is rising in sydney. the biggest to tri-day game since 2011, this after the u.s. impose sanctions against russian oligarchs. have the stock easing up in the pressure we saw at the start of the session. --y are urging shareholders rishaad: how important is the yield curve? at least one policymaker attaches a great deal of importance to it. presidentlar's fed says interest rates should be raised because the u.s. is near full employment. he told them there watching the you curb very carefully. >> i