Skip to main content

tv   Bloomberg Daybreak Australia  Bloomberg  June 28, 2018 6:00pm-7:00pm EDT

6:00 pm
>> u.s. stocks jumped the most in three weeks as tech rebounds, but it is another miserable day for emerging markets. >> the fed forces six u.s. banks to scale back shareholder payout, while at deutsche bank unit fails the test entirely. continues,uan slide authorities intervening at a key psychological level. >> and president trump praises foxconn as he tours the new wisconsin point. -- plant.
6:01 pm
sydney. from we are just past 8:00 a.m. here. just past 6:00 p.m. here new york. we'll be looking at how the asked -- action -- small pullback in bonds. it is not so much about what happened but more about what did not happen. we did not get any major tweak or statement from -- tweet or statement from president trump on trade. gave the stock market a little relief. of course the nasdaq held by the rebound in tech stocks. everyone watching bank stocks after several days of declines. worsening developments
6:02 pm
in this trade tiff. not a terrible open set up for friday. just getting underway. also a little more dovish and tone. kiwi stocks up a little. performers.etter the bloomberg dollar index falling from that high for 2018. sydney futures also looking a little more positive. a quarter of 1% higher. bit of a bounce back after getting an 18 month low against the dollar. havee and kiwi investors been largely unfazed by everything else going on. those two markets are headed for though -- their best. pain continues. whether it be bonds or assets of stocks. emerging markets down half a
6:03 pm
percent. lowestx falling to the in 10 months. looking ahead to the shanghai open this friday, another 1% lower as that remains stuck in the bear market. also watching the yuan. we will get a few more details about where we see potential intervention as we get closer to the 6.7 level. 12th straight day of losses for offshore yuan. let's get the first word news. new york has deployed counterterrorism teams to some media outlets after five people were shot and killed at a newspaper office in maryland. a reporter at the capital gazette tweeted a single gunman fired into the newsroom and shot several employees. staff or higher it -- hiding under desks. a white male is now in police custody. in wisconsin, president trump
6:04 pm
broke ground at foxconn's massive technology campus. he is trying to make the case's economic policies are paying off ahead of the november midterm elections. trump says the foxconn project will contribute $3.4 million annually to the states economy and create 15,000 jobs. estimate and foxconn it will be fewer jobs in that. a bloomberg survey of traders and analysts ceased/-- that is 1% below current levels. he says while the yuan's dramatic the senate has traders on edge, they are not yet -- australia has awarded a 26 billion u.s. dollar contract for submarines to bae. the u.k. military contractor will design the warships, which will be constructed in south
6:05 pm
australia. they will start service little before 2030. londonres climbed in while those of the unsuccessful a tie in better slumped. global news 24 hours a day on air and on tic toc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. kathleen: let's go back to the rebound in u.s. stocks. the first one we have seen a several weeks. we saw major benchmarks rise. after the bell, all about the banks. lenders squarely in the spotlight once again. we had more -- we are seeing that and the results. a number of banks having to limit their cast distribution. one failure is deutsche bank. stock look at the
6:06 pm
performance you can see this is a bank that has been under failure or at least under pressure. what we have here is yet another blackeye for the bank. if they'll be part -- it failed. the federal reserve faulted his return oh -- this will be a stock to watch friday. let's go to the other after-hours activity. banks, most of them moving higher after results came out. this is even know these banks in goldmanar, jpmorgan, sachs and others had to scale back their proposals to dole out more cash. they got a green light. bank,an express come m&t they also had to temper their initial request.
6:07 pm
pretty much announced of those after-hours. found they still had enough capital. that is the issue do they have capital reserves. let's go into the bloomberg. a record defined 13 straight days in the banks. financial index for record-breaking streets for the banks. 13 days, we have never seen that before. up here in the regular session we did have banks higher. in those 13 days there has been some carnage. 40 million from the financial select. a lot of investors pulling back. have not the bonds been above 3% and longtime. questions about what will happen with interest-rate policy. let's go to the regular session performance of banks. we are seeing some green.
6:08 pm
other stocks, let's talk about them. who are the winners and losers? i have a panel let liz it out. -- that lays it out. club,a discount wholesale really took off. two health care stocks. walgreens recently added to the dow but taking a big hit along with cvs, which has to pay a penalty for some kind of opioid distribution. also am a john -- also amazon bought an online drug company. bad day for shareholders of some of these pharmaceutical chains, to put it mildly. haidi: not a terrible day for tech. oil i guess was the other rivaling theme. su: let's talk about tech.
6:09 pm
it definitely helped push the market higher. really had a letter momentum. -- a ladder momentum. -- a lot of momentum. been under pressure. nvidia, outpacing the gains we have seen, they were big momemtum stocks last year. on the bottom a bit i.t. stock sth -- that did well. oil, 3 year oil? where do we go from here? we hit $74 briefly. now above $73. the last two months, it really recently.gain we saw one more chart.
6:10 pm
most recent days, the white hous wanting to bring down oil prioces. at the same time, they put pressure on allies to limit purchaces of iran. a lot of oil is being taken off the market. some people in the white house said they want to soften the stance on iran. perhaps concerns that oil has shot up so much higher. haidi: thank you so much for that, su. joining us now for some analysis is the founder of jewel financial. in between trade wars and rising rates from central banks, how are you approaching all the uncertainties being thrown up in the markets at the moment? >> it is very interesting.
6:11 pm
we have seen a lot of volatility this year. that is not uncommon. but it seems as if this latest round of selling, which was led in part domestically at least by the financials, has felt and looked a lot different. that weo be very honest have taken a much more cautious position. we have been unfortunately sellers into some of the decline. we are not just blindly buying weakness, which we had done in the past. but because of the characteristics that we are seeing in this selloff, i hate to use his terminology, this selloff might be different and we might just be seeing the beginning of a further market decline. haidi: you look at the levels of volatility, starting to be higher for fx and stocks and bonds. still far from what we saw in january and february.
6:12 pm
does this tell you there is complacency? does this tell you that investors are tired of this narrative? quint: i think it oozes of complacency. the financials, which are in focus right now because of the stress test, which we can touch on, but i do not think that will be a massive sustained mover for the stoxx. -- of these stocks. yes, they are oversold. nonetheless, it was needed. but this breakdown of this the bankingin index or companies like jpmorgan losing the 105. i know it has bounced above, but those are key signals for me, who feels the financial sector is by far the most important, that these are huge warning signs. and i do not believe that we are ooze through the marketplace.
6:13 pm
i believe it is more bearish because people are more complacent. oil has given this life that maybe things are ok and i do not think they are. kathleen: if it were not for all the trade back-and-forth we could imagine this bank selloff would not have gotten all this attention. i want to bring back this chart. i really want to underscore what you said. you wrote in the last couple days that this in the past has been assigned. when bank stocks breakdown, that we are heading into something that could be a much more serious down turn. could you harken back to the last time this happened that portended a much worse market? quint: 2007. i hate to say that. i do not think this ultimately becomes 2008 at all. but in 2007 the bank stocks are breaking down. they were acting very poorly.
6:14 pm
but everyone was misdirected to the global growth theme. monsanto, all them were soaring. no one cared about the significant breakdown in long-term trends of the banks. now we are refocused on all the findings. forget about the banking institutions under pressure, let's look at google and apple and netflix and facebook. that is a concern to me. the financial system in the u.s. and its impact globally is huge. you have to ask yourself, why is it happening right now? 10-year 3% is nothing new. we have been battling that for several months. trade and tariffs, that is nothing new. of something my curiosity is it could be europe, italy, etc. kathleen: i took the chart i just had up, i pushed it back to 2007. so our audience can see what you
6:15 pm
are talking about. this big break down. however, you mentioned italy in europe. you also wrote this week that that is your concern about what is really causing all this unsettling in the world, even more than trade. what do you mean? italycal problems with along with brexit, what do you mean? not have thedid china trade discussion or families being separated at the border, i think headlines would point to the italian risk of an exit, which is growing due to their populist elections. if you look at their banking stocks and their financials, their falling apart, their interest rates are moving higher, their bonds are declining. it leads to believe that there
6:16 pm
is some sort of systemic problem happening. deutsche bank is a concern. deutsche bank down 50% this year. they are catching headlines right now because they fail the u.s. stress test, and that is important to note. but this stock is a problem. and there has to be some systemic risk for our domestic banks if that company goes under, or needs a significant bailout. so that is what is really concerning me here. kathleen: look forward to talking to you again soon. i think a lot of people have their eye on what might be 4% gdp growth. we will talk about that next time. still ahead, we will dig into escalating trade tensions within the u.s. and china. next, president trump celebrates foxconn's for ray into american manufacturing. this is bloomberg. ♪ ♪
6:17 pm
6:18 pm
6:19 pm
haidi: i am haidi lun in sydney. kathleen: and i'm kathleen hays in new york. president trump has taken part in the groundbreaking ceremony for foxconn's factory was kannan -- in wisconsin. trump is trying to make the case's economic policies are paying off ahead of november midterm elections. joe is in washington with the latest. this is really just trump at his best, going to wisconsin, a very important state politically, where he is bashing harley davidson, then welcoming a chinese company is a great player for the u.s.. joe: this groundbreaking comes at a fortuitous time for the president. --is getting harley being the latest example.
6:20 pm
leading to move operations overseas and blaming the tariffs, retaliatory tariffs that the eu and other companies -- countries impose on the u.s. foronn was a major coup trump and scott walker, the republican wisconsin governor. he was able to highlight the fact that this big factory they project that eventually it will employ as many as 13,000 people. it is a big investment in an area of wisconsin. there is some rumbling on the doubts ofn the state, how much benefit will come given the cost of incentives the state had to give to get those jobs. nonetheless, it is a good news story trump can tell at the time. haidi: also today the president seemed to suggest rushes denials of election meddling while questioning u.s. intelligence
6:21 pm
agencies. what message could he be trying to send? joe: his main message is a political one to his supporters and to the american people, because he is very sensitive to the idea that the russians meddled with the 2016 election as a suggestion that perhaps his election was illegitimate. despite theeen, findings of the u.s. intelligence community, despite the indictments of russian organizations that were operating to influence the election, he is continuing to lean into the idea that, well, russia has denied it and putin seems sincere. this also precedes a planned a summit meeting with putin that will be following his meeting with nato allies later next month. setit is sort of an odd up for that, but he is
6:22 pm
continuing to look at at least where that leaves him with his political base more so than perhaps any other greater message to russia or two putin. -- or to putin. haidi: joe, thank you so much. a programming note for you, you don't want to miss our conversation with malaysian prime minister on bloomberg television tonight at 6:00 p.m. if you're watching in hong kong, 8:00 p.m. for viewers here in sydney. this is bloomberg. ♪
6:23 pm
6:24 pm
kathleen: you're watching daybreak australia. we are waiting news on chinese ipo pricing to out of san francisco shortly. of plans to still stock in mainland china may be an example of beijing's ambitions getting ahead of its reality. our asia tech reporter joins us now.
6:25 pm
what does this mean for the ipo? shelley: they said they were going to list offer $10 billion and ended up having to half that. they wanted to do half in china and half in hong kong and they could not do the china portion. already we are looking at a smaller listing them we were expecting. kathleen: so the reception is everyone is really excited. the mosthis is one of hyped up ipos. supposed to be the biggest one since alibaba. then we started to slowly see that come down piece by these. they brought down the valuation, now we are getting rumblings that retail investors in hong kong did not quite oversubscribed for this offering as much as people thought. haidi: it is interesting timing for any company in that space at the moment. how do you anticipate it being trade tensions, market volatility as well over in china
6:26 pm
are infecting xiaomi and other tech companies in the pipeline? shelly: it is interesting because xiaomi does not actually have operations so much in the u.s. so you would think from a logical perspective, trade tariffs and things like that would not affect xiaomi. is the affecting xiaomi fact that the market is so volatile and people are worried about emerging markets and china, so that is just not the best timing that you want to introduce yourself on a global sphere for 90 oh. -- for an ipo. we have a pipeline of 20 chinese tech companies right now that it talking about an ipo, a big one already filed their perspectives, and it is not the exact kind of environment you want to go out and introduce yourself on in the global sphere. haidi: thank you so much for that, shelly. a quick check of the latest business flash headlines.
6:27 pm
amazon is entering the u.s. drug business with the acquisition of online pharmacy pillpack. the billion-dollar acquisition is expected to shake up the prescription drug industry, challenging major chains walgreens and cvs. amazon finished the day higher. walgreens and cvs fell. kathleen: bloomberg has been shareholders are set to vote -- our sources the meeting is scheduled for 10:00 a.m. at the new york hilton. that gives it another edge over comcast which is also vying for the assets. haidi: planning to give bridgwater employees ownership over the next phase in a decade-long plan. the partnership changes will give -- the billionaire is more than
6:28 pm
midway through a 10 year plan that has had a few false starts. plenty more to come on daybreak australia. we're going to take a look ahead at what the market holds particularly in china. this is bloomberg. ♪ ♪
6:29 pm
6:30 pm
haidi: 8 a.m. in sydney where markets open for the friday freight just about in 90 minutes time. that's what you call a recovery rally. and in the u.s., setting up for a vet of positivity -- a bit of positivity. kathleen: in new york, waiting to see how to skim through to asia. you're watching daybreak us trillion. let's get to first word news with jenna devon heart. stress tests have forced six u.s. banks including j.p. morgan to scale back proposals for doling out more cash to shareholders. goldman sachs and morgan stanley agreed to freeze total play out
6:31 pm
-- payouts to previous years levels. the belated stress test was because of "widespread and critical deficiencies in planning. and considering whether to band a short issuance in dollars. such a move by the national government and reform commission with the financing option for debt laden property. it had become a popular financing tactic because it did not require approval. meetussian president will in helsinki on july 16 just days after what could be a tense nato meeting involving donald trump and america's closest european ally. the president has accused nato and wondered russia to be reinstated into the order. this will be their first formal summit.
6:32 pm
the wall street journal says white house chief of staff don kelly -- john kelly is expected to leave in the coming months. president trump is consulting advisors for possible replacements. frontrunners for the job are set vice president pence and mick mulvaney that has the office of management and budget. disrupted after last month's interruption of the volcano. we will give an update, shortly. leaving with their home and disrupting their islands lucrative tourism sector. global news 24 hours a day, on air, and powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. thanks for that.
6:33 pm
let's get you a quick update on the market is to get underway on the final trading day. trading is already underway in new zealand. pretty flat at the moment. level,ge from that 1.75% but a bit more of a dovish tone. they went to date high and the aussie dollar doing better with the overnight session. and a run-up in prices as well for oil. here is bloomberg's global markets editor, with us. what has changed in china? we are talking about whether we will see a repeat of interventionist support as we did in 2015. >> there is kind of a number of
6:34 pm
things going on, but it's important to separate was happening domestic the and abroad. abroad.tically and is there policy support their? policy support may already been active this week. but what we have done on the markets teams is survey a number of traders and analysts. 18 of those that we surveyed, to bexpect the pboc intervening more the chinese authorities to be intervening when the dollar gets to about the 6.7 level. all, i only get closer and closer to that. this is a story about a domestic slowdown in china itself. and also deterioration in the currency market and also the equity market which is a very retail-based investor said. the possible tools now that the
6:35 pm
authorities have, given where things have gone, they could strengthen that reference rate for the onshore market. watching theosely daily fix again today. and also, they could tighten liquidity levels, start to ramp up capital controls again. , think key for some people showing up in the world right .ow, highlighted by the effects this is a great chart there. the risk reversal that shows, pretty much at this point, they have the slow decline in the currency. it happened back in 2015. concerned thans they did a few years ago.
6:36 pm
>> this emerging-market complex will hit so hard. recently catching one's attention. e.m. would be the trade of the decade in early 2016. what do they say now? >> this is an important research . they have been very long-term on the emerging markets space. they made this famous call back in february of 2016 a few weeks after this huge bull run got going. in equities and filtered more to many other emerging-market assets. even after the selloff that we have seen in the last few weeks, this is still a 50% plus gain based on these returns as you see in emerging markets. it has still been a very good trade.
6:37 pm
they certainly recommend keeping that long-term bullish view. interesting -- they say it is interesting that you are not seeing the buying of the debt with a selloff in a place like u.s. equities. they also say the global economy itself is more stable, despite the fact that it may not be a synchronized global growth story that you had 12 months ago that started to look a little bit more fragile. , think that valuation discount plus the robustness and bullish stance that they have on the global economy means that ultimately, the emerging-market assets are better off as discounts are now getting tougher. bloomberg's global markets editor. don't forget to check out our dtv library for some of the
6:38 pm
chart you just saw on gtd on the bloomberg terminal. the reserves tougher stress test forced six u.s. banks to scale back proposals for dishing out additional cash to shareholders. let's bring in allison williams. a senior u.s. bank analyst, what is going on in these stress tests. autumn line, how does it impact the banks after nine or 10 straight days of decline. they managed to have a small bounce back today. >> the test got more and more negative. and last week, there were definitely concerns. line withty much in wells fargo the really big winner. a lot of people thought that they might qualitatively fail the test because they're under the fed consent order. this is the second year in a row. out and are able to pay
6:39 pm
it is really the big surprise. they just have the most capacity of everyone. i think that is sort of really a big game changer for them. banks, jpmorgan and the dividend coming in better than expected. obviously that is something investors will view favorably for those that specifically seek the dividend. sachs and morgan stanley received a lot of focus over the last weekend. a goldman had really got things down in the beginning of the year and came in at the lower rate. morgan stanley may have disappointed some versus expectations before last week that could be enough. you worked on the street. it you know these banks inside and out. i am curious publicly held of anxious fondant and what are you hearing from inside bank? how are people feeling about the
6:40 pm
tests and how they came out? they are designed to give the , and the negative side of things of that there is a lot of capacity around the test. wells fargo had his huge capacity to do buybacks but people did not know if they will be able to lounge or not because there is not a lot of insight in terms of that part of the process. we know the fed looks at a lot of different things. we saw that with deutsche bank. there is sort of not a lot of clarity. is thatr part of it sometimes, there is disagreement in terms of the fed results versus the bank results. that can very and back to more conservative or less. how much should banks be in fold and setting that. i think it is important to keep some independence, but also to
6:41 pm
some extent, the banks are knowing what to plan for and help. >> what was the story? >> i don't think that this should be a surprise. it should be expected. from the quantitative results. have 20 of capital on the a couplethat unit and months ago, when there were of regulators taking a closer look at deutsche bank, there was a lot of concern if this was around capital and liquidity or if it relates to process and risk management functions. when we look at the results, we see they did very well but got an objection on the qualitative portion of it. this is a unit, though. it is not necessarily the
6:42 pm
parents, but the u.s. sub whose plans may include dividend and , andal up to the parents that there were material weaknesses in the process. we talked about issues with internal functions which include risk management. have seen many bloomberg stories , sort of alluding to some of these issues. surprise, and the fact that these issues really point to process and not something balance sheet related and it should quell some concerns. haidi: thank you so much for that, alison williams, u.s. banks analyst there. apple was said to have landed a second supplier for the led screens used in high-end iphones. display will initially supply between 2 million and 4 million units. mark, was there a need for a second supplier?
6:43 pm
>> apple likes to get their screens and all major technologies. one of the suppliers has a supply chain issue. it's good for plan b which is why apple has tied -- has tried proponents. haidi: what are the implications for samsung and the future of the iphone because of this deal? iphone has a long future ahead of it. there is one oled model. having multiple suppliers does somewhat at up to that. talk about the future
6:44 pm
of the iphone. what comes next beyond new suppliers? model.e will be a second there will be a cheaper iphone model with an lcd screen so not a lead -- not oled. iphoneill be future models and a big update for 2019. and a shift over time entirely, probably around 2020 or 2020 12 021 to oled. curved screens and be able to have a fourth dimension in terms of input. they areown the road, working on a technology called micro led which will be a successor to oled. kathleen: a lot on the apple plate. u.s. and china trade tensions
6:45 pm
continue to simmer. will they boil over? will talk to resident scholar derek scissors. this is bloomberg. ♪
6:46 pm
6:47 pm
kathleen: i'm kathleen hays in new york. haidi: and i'm haidi lun in sydney. you're watching daybreak australia. china is reiterating its opposition on curbing investment in the u.s. is white house officials tussle over trade policy ahead of the deadline. joining us now is american enterprise institute scholar derek scissors. derek, we were just saying a couple of minutes ago that things change so rapidly and so quickly with a tweet or comment from one of the white house officials that you don't necessarily want to get attached to any given outcome. what is a likely outcome here? will you assume cooler heads will prevail? derek: it depends on what you
6:48 pm
mean by cooler. i think we will get the $34 billion in u.s. tariffs. it a lot of time to head that off. inclinationt has an toward terrorists and the administration wants to show that it is tough on china after backing off a step on investment and export control. i think we will get the $34 billion, that's not a lot of money. after that, the opportunity is for cooler heads to prevail. >> do you think negotiations are underway behind closed doors? china said if the terrorists get imposed, basically everything else before that that was done in good faith is off the table. in thishink the deficit relationship is at a pretty poor place at the moment? i think it's hard to have meaningful negotiations right now because we just went through a round of this in may where the chinese thought they had a deal and it turns out they didn't.
6:49 pm
it is hard to find a right person on the chinese side to represent them. it is hard to find the right person on the business side. you can talk to one cabinet member and they turn out to be wrong. what we actually need in this relationship is some pain. that will motivate them and negotiate. we just failed in may and it will be hard to act quickly before the july 6 deadline. the title is, "china can't match tariffs. he showed how many goods the china is selling to the u.s.. which is how much the u.s. is selling to china. it seems like within china itself, academics and business people are talking about, what road have we gone down? miscalculatedxi
6:50 pm
how much pain this can inflict on china? and what a dangerous path this is now? derek: i think certainly. it is a mistake for chinese to say we will match american trade tariffs. for exactly the reason you just mentioned. can'ts a road that china match the u.s. on. -- tariffs on. -- theremore targeted are more targeted reactions they could've had. is chinese stock market concerned. this is not a winning play for china which means we have a lot of uncertainty in front of us. what will china do instead? will it provoke the u.s. into additional tariffs? that would be unwise. a knee-jerk response and it spooked investors and traders in china proper. you have argued that
6:51 pm
the problem with tariffs does not address fundamental issues like chinese intellectual property coercion. and state owned enterprises. is that in part what trump, however crudely, is trying to do by pushing back against china's investment? economically or sensitive technology companies of the u.s.? preventing the chinese from buying u.s. tech companies might be pretty smart. it doesn't curb their incentives to steal tack or coerce it. it increases it. if you can't by the tech, you steal it or coerce it. you say this whole sector faces tariffs. you don't get that her behavior from companies. it has nothing to do with made in china 2025.
6:52 pm
it has to do with trade imbalances in 2018 and 2019. that we get what we really want which is a restructuring of the chinese economy. we are not making progress on that. we're just punishing everyone we can get a handle on. and push china in the right direction. kathleen: mike quick question and your quick answer, what should the u.s. be doing? derek: the u.s. should be taking out chinese state owned enterprises that are very large and the chinese are pushing towards. and target those. it doesn't involve taxing american consumers. that's a get china to change policy by saying you can't create global champions. kathleen: joining us from the
6:53 pm
american enterprise institute where he is a resident scholar. it you can get a roundup of stories you need to know to get your day going in today's edition of "daybreak." they can the bloomberg> on anywhere app. industries and assets you really care about. check it out. this is bloomberg. ♪
6:54 pm
6:55 pm
kathleen: now for a quick check of the latest business flash headlines. nike's north american sales return to growth for the first time since when he 17, sending the stock jumping. the iconic sneaker giant had forecast flat sales and credits new products. the 3% rebound. of adidas's -- the 3% rebound falls short of adidas's recent performance. sharesstarbucks
6:56 pm
fell. at financial officer scott moore's in his retirement grapples with growing sales in the u.s. and tricky expansion. and closing some stores in the u.s.. netflix is looking to india for the next 100 million subscribers. less than one million customers even though more than 150 million people have broadband act test. it is twice as much of the average pay-tv service and offers predominantly english titles. the first indian netflix original series comes out in july. this friday morning, we have daybreak asia. happy friday.y yvonne: happy friday.
6:57 pm
it looks like we are heading into the terrace to being implemented on july. our associates, vice-chairman, and former deputy u.s. cr. this behavior about what comes next, the next step at these tariffs may be a little bit less clear. is there still room for negotiation? and we can escalate and it becomes an issue for the wto as well. i know you're very excited about this. it is part of the relationship between nixon and the china communist government back in the day. we have to keep looking at market reaction. and who better to do this than alex wolf. aberdeen standard investments and senior emerging markets economist. we are seeing so much of the pain day by day being inflicted. when it comes to china, they could restrict u.s. business activity, depreciate their currency, and sell treasuries if it escalates. the first two are most likely.
6:58 pm
>> getting more on the markets as well. haidi: and we have that bounce overnight. plenty more to come. this is bloomberg. ♪
6:59 pm
7:00 pm
yvonne: 7:00 a.m. here in hong kong. where live from the asian headquarters, on the yvonne man. a come to "bloomberg daybreak: asia." the top story, 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


info Stream Only

Uploaded by TV Archive on