at a rapid as there was a roman bathing culture in asia minor two thousand years ago the city had an estimated population of one hundred thousand. and him from the great bath house a sculpture found that. the theory is that a stone dislodged from the vaulting by an earthquake decapitated the figure excavations have been in progress for more than a century first by german and currently buy in tourney an archaeologists. only recently where the foundations of the south bathhouse cleared of limestone the calcium carbonate borne by the waters had counted the walls to a height of five metres little by little the importance of harappan ex-pro roman bathing culture in the near east has become apparent hellenistic cultic site was transformed into a spot on known throughout asia minor numerous large holes remain to be excavated currently there are still buried under the limestone deposits at the springs indeed the excavations have barely begun. the glories of nature and of art went hand in hand that here. the thing terence one of the best preserved in asia minor it was right in the heart of th

the stock takes a hit in asia. we spake with the bank's finance director. >> fourth quarter from our perspective in the industry's was a little weaker with respect to global bacon market revenues, space.larly the ficc we also took corporate exposures in the fourth quarter. manus: asian equities snap a six-day rally as hong kong comes back online following the new year's holiday. meanwhile, treasury yields climb ahead of a quarter trillion dollars of auction this week. anna: and a brexit backup plan. theresa may is said to be preparing to withhold aliens and eu payments if the bloc doesn't play ball on trade. ♪ anna: good morning, this is "bloomberg daybreak: europe." let's get straight into the market auction. we will have more from the finance director shortly. msci being weighed down this morning, part of it is hsbc, where we see negative reaction coming through to that earnings statement, in particular the pretax profit numbers and shared by backstory. we will get a lot more detail in a moment. we are down by

pretty much an update for most of asia, and in china -- in asia, we have the hang seng up by 1%. let's see whether those gains can continue. this is bloomberg. ♪ haslinda: 11:30 a.m. a pretty gloomy day. in the middle of a trading day. ahead of percent industrial production figures later today. p.m.hat's going to be at 1 local time. in hong kong, dave -- david: yeah, we are looking at gains across the major benchmarks in hong kong. we are fighting back from session lows at the moment, but the story is volume or the lack of it. i'm looking, shenzhen to hong to be- we are halfway taught in the absence of any sort of meaningful flow of funds from the chinese mainland, it's hard to get back up in a timely way. i'm haslinda amin in singapore. you're watching "bloomberg markets asia." let's get your first word headlines with debra mao. deb? china is set to repeal existing term limits on the presidency to allow she jumping to rule past 2023. they want to revise a constitutional provision barring the head of state for more than two consecutive terms in office, the only formal barrier t

plenty more ahead on bloomberg markets: asia. this is bloomberg. ♪ david: we are a couple of minutes into the equity session over in mumbai. let's get a check of where we are. sophie has the latest for us on budget day. sophie: it is budget day and have stocks snapping a two-day drop of the countdown to that reveal. looks like investors are weighing their positions. they might be sitting on the cash, waiting to see what the plan is for borrowing for the government. that is going to weigh heavily on the bond market. series ofrong manufacturing pmi data from across the region, we are waiting on india's latest report for january. the pmi jumped in december for context. let's pull up off the board to check in on some movers in mumbai. tpc falling after net income missed estimates. a construction business on the rise after a third quarter net rise of almost seven. toubro rising. juliette: looking more mixed for the broader picture. a bit of a downturn from some of the chinese markets. glaringyou can see that red, the outlier down ov

and stock markets in asia rallied today as some sense of stability returned after last week's market meltdown while tokyo hong kong and shanghai led a strong advance across asia and vester has continued to be anxious especially head of key u.s. inflation data to be released wednesday some of the some of those concerned that such data could spark further volatile market moves almost anything could european stocks have seen a robust recovery also following the worst week in two years bringing back the bullish sentiment which has been buoyed this year by strong economic indicators and company quarterly reports the pan european stocks europe six hundred index rallied one point two percent including eighty seven percent of the stocks that make up the europe six hundred closing in positive territory plus other stocks stock exchanges in germany france and the u.k. each rose by more than one percent. just a little over a week ago markets were shaken to their core the dow jones industrial average lost more than fifteen hundred points in just a single day why u.s. investors felt the burn what

good morning, asia. hello, world. glad you could join us for this edition of asia business report. i am rico hizon. usually stays quiet and this commentary to others but the governor of the reserve bank of india has spoken out about the budget and the country's economic direction. for more on this, let's ci’oss direction. for more on this, let's cross over direction. for more on this, let's cross over to a asia business report, who attended the government's press conference. thank you so much forjoining us, what did the governor said? well, the governor opened up about various issues related to the economy and specifically the budget announcement which took place, which the government decided to introduce long—term capital gains tax on stocks. up until now in india, there was no long—term capital gains tax on stocks. if an investor bought the stock or mutual fund and sold within a year, there would be 15% tax on it. but if an investor held the stock for more than a year, they did not have to pay any taxes, but now the government has decided that they will charge 10% tax even

tune in to daybreak asia at 7:00 hong kong. app,an download the bloomberg radio plus, or access it on bloombergradio.com. boyfriend image. we have more on that and china's numbers. this is bloomberg. ♪ ♪ tom: it is 8:30 in singapore, half an hour from the open of trading there. 33% jump inorted a fourth-quarter profit from a year earlier to read on the back of a strong performance in wealth management division. i am tom mackenzie in hong kong. betty: i am betty liu in new york. you are watching "daybreak asia ." >> a senior british official says china is wary of providing trade agreement until they see how brexit plays out. the u.k. hopes to negotiate a new deal with beijing during the two-year implementation period after march of 2019. they launched a review of their $77 billion trading relationship during theresa may's visit last week. ,> we asked members of the e.u. and we won't be able to implement any visit. the launch of the second chapter clearly endorsed by both sides. germany has agreed and outlined coalition givin

mirroring the falls in south—east asia as well. falls in south—east asia as well. all of this prompted by the sell—off in the united states overnight. in the united states overnight. me they are not sure where this volatility will go. volatility will go. direction we have been seeing for the better part of this week? the better part of this week? they feel there are problems in asia itself. itself. problems in china, or problems in japan. japan. rises at a faster pace than most people had anticipated. people had anticipated. they are worried about the outflow of foreign cash. of foreign cash. interest rates were low in the united states. united states. valuations in stock markets all over the region. emerging market valuations. valuations. there is concern that many will disappear. disappear. that is the reason why so many are concerned. many are concerned. problem is or was at the top of peoples minds. peoples minds. something people have not been thinking about. thank you very much indeed. on cutting air pollution. they are being told — clean up — or pay up

let's look at the session for asia. sophie: investors aren't making up their minds regarding the impact of higher yields. asian stocks set to end the week on a positive note. china, investors overcoming jitters over regulators taking over anbang for one year. the shanghai composite adding .6%, the h-share cage rising 2%. we do have the earnings parade continue elsewhere. in sydney, a third straight session. inflation data from japan, gains across the board for the nikkei 225. we look at what is moving the regional index, tech stocks leading the charge. we had several lines coming out around samsung, including planned investment to expand a chip plan and sales data showing samsung coming out on top come although global sales did fall for the first time ever. energy and mining on the rise. commodities, oil on the rise, set for its second weekly advance after a supplies -- surprise drop in u.s. supplies. set is on the back foot, for a third weekly loss. the latest fed minutes supported the dollar and treasury yields this w

with the rate in asia-pacific. but experts say that singapore should not fear because the goods and services tax which may increase by i— 2% is only likely to be implemented over the next two or three years to prepare people. the gst was last raised in 2007 from five to the current 7%. sally. thank you very much, we will speak to you soon. now let's brief you some other business stories. the head of latvia's central bank has spent the night in custody. ilmars rimsevics, who is also a member of the european central bank's governing council, has been detained by latvia's anti—corruption agency but no details have been released about why. his home and offices at the bank of latvia were both raided. the prime minister has called an emergency cabinet meeting for monday but said "there are no signs that there is any threat to the latvian financial system". former shareholders in the collapsed british construction giant, carillion, are calling for its management to be investigated. according to a parliamentary report

this is "bloomberg markets: asia." ♪ asia-pacific markets are on the slide. preparing to deliver the last result. nobles adrift on a sea of troubles. is any valuehere left in asia's once a dominant commodities trade off. kong markets are getting set to come back online after the lunar new year long weekend. chinese markets are still away until thursday. we take a look at what is going on in the hong kong stock exchange. in terms of a handover, not much of one after that stellar performance by asia shares on a monday driven largely by japanese equities that had their second best day of the year. we saw a little bit of a failure to extend those gains in the european session. we are also seeing u.s. futures trading down as well. let's take a look at where we are moving in terms of markets. a big week when it comes to markets. it over to sophie for a look at how things are going. ie: as you pointed out, u.s. futures are declining. taiwan and a vietnam also closed for the extended holiday. the nikkei and topics snap a topix snap amb -- three-day climb. seoul, and

why are standards so below par in southeast asia? this news study which we are doing, we have conducted knock—on is called the conservation... these are. in southeast asia, the governments have to invest in a long and sustained manner. that is not happening. to get the tiger‘s conservation and protection, this is necessary. what will it take to turn things around and for governments here in southwest asia to realise, yes, we have to do it yesterday.” southwest asia to realise, yes, we have to do it yesterday. i think they can pick it up from the neighbours in south asia. india, nepal, bhutan and even russia have been investing heavily and we have seen the dramatic results of positive site and we have seen the rise in the tiger numbers. that's the direct result of investment. and here in thailand, they've also done the same thing as india, russia and nepal and they've also invested in the protection of the tigers. yes, they have done that and i think there is also an example for other southeast asian countries to pick it up sout

. >>> a look at trade and the asia pacific region. that's followed by supreme court oral argument on the rights of criminal defendants. later some recent state addresses by the governors of alabama and rhode island. >>> australia's prime minister is traveling to the u.s. later this month to meet with president trump at the white house. earlier today the australian ambassador to the u.s. talked about the state of relations during a discussion on trade in the asia-pacific region. he also shared his thoughts why the u.s. should be part of the transpacific partnership, a trade agreement the u.s. withdrew from shortly after president trump's inauguration. hosted by the washington trade association, this is just under an hour. >>> good afternoon, everybody. i'm the executive director of the washington international trade association. the membership association for the international trade community. thank you ambassador hockey and your wonderful embassy staff. they do a great here in washington on behalf of your government and we're very gra

welcome to daybreak asia. tuesday,tories this asia-pacific markets extending gains after wall street shrugged off the worst week for equities in two years. the volatility index fell and the s&p saw the biggest two-day advance in 18 months. traders are still nervous about u.s. inflation. >> and from bloomberg's global headquarters, i'm remy where it is just past 6 p.m. on monday. president trump reposes widespread domestic cost cuts and congress is expected to all but ignored this budget plan. and rolling the dice, mgm opens up in time for the lunar new year. we are live with ceo brenda lee. >> looking at the markets, another bit of surprise here. it markets up across the board, led by materials and information technology. with that said, there is still a lot of caution out there. g #btv 7589. the white line is the spx in terms of net positioning and you can see that falling. this is just a flip. a reversal with the vix futures spiking higher. volatility and bullishness surging to the highest level. we will see

in hong kong, live from bloomberg's asia headquarters. i'm yvonne man, welcome to daybreak: asia. and then there were four. the fed chairman says strengthening data might mean a rate hike briefing. u.s. stocks sold off on jay powell's more hawkish tone and asia pacific markets are expected to follow suit. i'm betty liu in new york or it is just after 6 p.m. on this tuesday. oh dropping the most amid new warnings about u.s. show production in the opec led market, rebalancing in washington. getting tough with china. slapping tariffs of 106% on imported aluminum foil. beijing has hinted at a response. li na the markets in the u.s. tumbled today in reaction to the fed chairman jay powell's testimony today. but if you look at several pieces of data, indicators and a buy signal relative to other markets in the u.s.. g #btv 672 which shows you the breadth of the market. still of s&p70% stocks are trading above their 200 day moving average. if you look over into europe, for instance, where you and i talked to a lot of investors, there is a lot of value in europe. only 59% of stocks on the

do we go defensive asia badly burned. china was on track for its worst day in two years let's take a closer look at some of these european markets. they seem to be relatively resilient. maybe that is because the economic back drop, the pmis have been outperforming u.s. counter parts. the ftse mib is steady, relatively speaking. the quantum of losses at this point -- i stress at this point in the trading day, and we're still about midway through the morning session, is relatively limited. well below 0.5%. bear that in mind. it could worsen as could the picture in the u.s. markets and futures. looking at the sectors technology, which has been the laggard during this global selloff, is actually doing reasonably well. the banks on the losing end of the spectrum strangely enough, defensive sectors like utilities are off by 1% as we round off the week let's look at the dow over the course of the one week it bore the brunt of the selling. down by more than 4% the 23,000 handle is the next big number here on the downside. let's f

other areas across southeast asia seeing weakness. about thewn about .9%, course of the equities session, how weak currencies are trading at the moment. a few names we want to bring your attention to when it comes to the lunar new year, because we are getting crazy numbers, official numbers out of the chinese mainland. air china, the airlines are getting business. the film related names are getting bid up. a few names. 120 billion u.s. dollars, retail sales, 75 billion u.s. dollars in tourism revenue. in box office ticket sales, to about 850 million u.s. dollars, over the course of just seven days. so you understand the optimism coming into these markets, in the broader theme as well, at the moment, never bet against the chinese consumer, because they have so far really come out on top. anna: david ingles, joining us from hong kong. saudi arabia's sovereign wealth fund is in talks to buy a 15% stake of accor's property business. they say the transaction could value the unit at about six .2 billion euros. accor hotels has seen a rise i

that is bloomberg's north asia correspondent live from seoul. how will the prospect of a fed rate hike and the rebound in oil prices affect regional risk appetite? we will break it down have what it means for corporates and other sovereigns. this is bloomberg. ♪ retail. under pressure like never before. and its connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. yousef: it is 11:30 p.m. in downtown new york. riyadh.e shot of crude oil down a little over 1%. the bloomberg dollar index has gone to a little bit weak getting. we call that down a six whiskers on the bloomberg dollar index. of stability at first word headlines from around the world -- let's take a look at first word headlines from around the world with debra

good morning, asia, hello world. it isa good morning, asia, hello world. it is a tuesday. glad you could join us for another exciting addition for asia business report. i'm rico hizon. we kick off with the markets. we saw wall street closing higher overnight with the dowjones adding 1.796 overnight with the dowjones adding 1.7% and the broader s&p 500 hired by1.4%. 1.7% and the broader s&p 500 hired by 1.4%. that mackay by. we have seen by 1.4%. that mackay by. we have seen one by 1.4%. that mackay by. we have seen one of the wildest runs in us stock market history. in asia, markets followed wall street moved, it is that make it sell trade. the nikkei and be indexed and south korea. i spoke to shaun taylor about what he has been watching for in the market right now. the way we are looking at inflation is we see it in the us getting it to about 1.8 by the us getting it to about 1.8 by the end of the year. it will be two steps forward, one step back, and continuing that pattern. the fancy a more confident they will reach the 296 more confident they will reach the 2% target,

that could have a big impact in asia. let's go to our asia business hub where rico hizon is following the story hike is india's home—grown there could be a lot more volatility. 0ne there could be a lot more volatility. one day it is down, the next trading day is up so investors right now are spooked. they do not know where to position themselves in this current market environment as they might get trapped in this wild market swings. many are currently raising cash and moving to the sidelines for now and it will wait and see what happens next. analysts are speculating the fed will be looking at three in creases, as many predicted, orfour in looking at three in creases, as many predicted, or four in the light of the strong economic reports. also nervousness that interest rate hikes when the fed moves again, stifling strong asia exports and consumption which sustains the rapid growth throughout the region in 2017. backed by softbank and tencent — it's used by millions of indians. hike plans to target internet users with

let's take you to our asia business hub, where karishma has been tracking those numbers. the falls were significant.” the falls were significant. i was talking to an analyst at earlier on, who was saying to me that usually use cv ‘s falls mirrored out here in asia, but at a greater value. that is for many reasons, the same reasons we have seen stocks go up in the us, many asian share markets have benefited as well. the flow of money into asia over the last 10—year is, thanks to low interest rates in the us, many investors putting their hot money out here in asia, so when you see share falls in this part of the world, like in japan, at one point it was close to 7% lower today, but as you mentioned, it has recovered slightly. they do seem to have bigger percentage value than in the united states. everybody out here that i have spoken to today has said, the economic fundamentals in asia are still strong. these are some of the best economic times we have seen in this part of the world in recent years. notwithstanding the slowdown in china, but the big question for a lot

asia." -- global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. him with -- this is bloomberg. betty: rolling on in australia. paul allen is here with the numbers. let's start with bluescope. beat.ks like a paul: that's right. delivering 517 million. a20 3% rise in profit there that was pushed along by strong steel prices. reward coming for shareholders. bluescope will push on with its buyback. the share price, one of the standout performers is up 20% -- 22%. we will get a little bit more on this when we talked to the new ceo, mark vassella. he will be talking tests us and about three hours time. bloomberg in about three hours time. the northharges on american business and tax changes as well. full-year net loss for qb. slightly less than what was expected. they announced they will be selling to zurich. there will be some premium america. at north no change in australia or new zealand. saying hong kong and singapore have been particularly

seventy per cent of that came from its operations in asia. they have called that a pivot to asia. only half of new firms in the us make it through the first five years of business intact so what's the secret to a company becoming a long—term success? henry poole & co has been running for centuries. setup in 1806 it's been credited as being the founding tailor of savile row here in london. 0ne its most famous clients was winston churchill, who bought his first suit from the company in 1906. but it's also a company with a firm eye on the future, in 2006 it setup a made to measure store in beijing, to take advantage of the growing market in asia. simon cundey, managing director of prestigious tailoring business, henry poole & co. good morning, you have brought in all sorts of bits and pieces, we will talk about these, you have been around, not you, personally, but you have been around a while, 1806. and it is still a family business. lucky enough to be a family business, very much credited to generations of family that have run it and kept it very much for the next generation, that

nearly two-thirds of the world's growth will come from asia over the next decade. nearly two-thirds of the world's economic growth will come from asia over the next decade. within the next 15 years, four of the world's five largest economies are in our region, in just over ten years, australia -- asia will be home to a middle class of $3.5 billion, up from 500 million today. this will create immense opportunities that our unprecedented in global history, and at the heart of this economic miracle is modern china. it's a remarkable story. it is a $10 trillion economy with 6% to % economic growth. most economies larger than $4 trillion grow only at 2% to 3%. so china a $10 trillion economy growing at 6% to 7% has unlimited continuing potential, and it's going to continue to do so for the foreseeable future. let me give you an example of what that really means. take china's singles day. that's what it's called, singles day and it's a chinese celebration of being single which originated in chinese universities in the 1990s. it takes place annually on november 11th. it's

sci even the souls cost be they will all these gains were just below one percent would you say that asia was in a more vulnerable position. i would say so analysts definitely think so and it's because despite despite the small ready that we've seen today asian investors are still very hesitant and they still have to worry about a couple of things one being the inflation rates that are going to be coming from the u.s. and it was more almost certainly. affect the waste numbers will almost certainly affect the stocks and shake up the equity markets in asia making stocks more expensive because they are expensive at the moment that's true only what about the fundamentals the extremely strong how seriously can we take bridgewater's warning of an even bigger shakeout i think you have to take it seriously at the one hand the people in the market say well bridgewater it has billions at stake here in short selling that's a technical term putting pressure on major shares here in germany and spain and in italy but considering the total volume it can't move the market but the kind of worries that are

a week long sell off wall street and as a market correction the wild swings suffocates sentiment in asia big falls for recordings today europe looks on in horror up. a contentious pipeline projects connecting russia and germany passes another hurdle that could undermine energy secure. in europe. i am with valentine's day ahead when those flowers come from hopefully not this slaving cap meant in the u.k. . and let's do business not only is this a market correction swiss bank julius baer has labeled the u.s. stock sell off the short volatility flash crash although everyone's blaming sudden fears of inflation it reckons we'll never actually find out exactly what stocks the death spiral that triggered an algorithmic trading reaction in stocks although it very optimistically uses the word short other analysts see the downside staying and cold is a natural reassessment of the inflation outlook after the global market rout earlier this week investors were warned of increased and more frequent volatility in the next weeks and that's what they're getting as seen by the dallas plunge on thursday s

good morning, asia. hello, world. glad you could enjoy enjoin us for another exciting week on asia business report, i'm rico hizon. in singapore taxes are the focus when the citystate announces its new budget. the government has flagged it will need to increase tax revenues as spending on healthcare and infrastructure is expected to rapidly rise. one possible idea, attacks on e—commerce, which would make singapore among the first in asia to do so. earlier i spoke with amy from ernst and young and i asked her if we're likely to see tax increases. really it's what the government has been messaging up to today. there's increased need for our social spending with an increasing and fast ageing population. what will be e—commerce tax structure look like? it's likely it will be in the form ofa it's likely it will be in the form of a goods and service tax on online transactions, it's with online purchases of goods and services. the government is also rethinking its current goods and services tax structure, which is curren

"daybreak: asia." this is bloomberg. ♪ kathleen: this is "daybreak: asia". the winter olympics officially opens on friday in pyeongchang, south korea, but it is north korea that has the spotlight, let's get to our korean reporter, and steve, good to see you from chile pyeongchang, but it seems like the tension has incoming where we suckorth him jungle this military parade on thursday. how are these escalating games?s affecting the >> let me tell you what is coming from the north, it is eight bitterly cold siberian went casting a chill on these games. , am holding a lot of coffee and i am going to be treating a lot of coffee because it is pretty darn cold. a far as north korea, it is bit of a chill and a bit of a warming as well because that is the policy of the president of south korea, he believes taking a less hawkish on that the united states wants what the north, to bring a fraternity to the koreas here, which open up in the olympic stadium, when you see behind me is a pop up , they're going to take it down after the on the picks, but tonight is going to

we are live from bloomberg's asia headquarters. welcome to "bloomberg markets: asia." market set to slide as the euro fails and the yen retreats. traders look to key events, including rba minutes and janet yellen's last meeting at the fed. ramy: from bloomberg's global headquarters, i am ramy inocencio in new york. bhp to report its biggest first-half profit in three years , also under renewed pressure from an activist investor. also, president

so far most of his buyers have been hotels throughout asia. the hong kong i think apartments in hong kong will get smaller and smaller but the property prices are already so high that the younger generation can't afford. maybe in the future they won't just sleep in space capsules like these for a day or two but actually live in that way a lot of. the hong kong government has promised to take action senior citizens are now supposed to get priority in subsidized housing but the waiting lists are long probably too long for seventeen year old son in law the only way for him to escape his cramped living space is to go outside. and that was on the. off the story which you can find on our website in our series follow us about it and that's it for me and the business team here and i'll have an update for you of course in the next hour and meantime all twitter and facebook feeds for more business news stories before we go here's a check on global markets and for watching but i. want . to. go. to our economy. copeland is legal highlights. a judge threw

u.s.s and asia and the turnaround, recovering some losses. volatility subsides after the vix sank almost 20%. manus: the british chamber of commerce warned theresa may that u.k. businesses are losing patience over brexit ambiguity. manus: -- anna: the ceo resigns after being embroiled in a sexual-harassment scandal. ♪ welcome to "bloomberg daybreak: europe." it's just gone in a cup a.m. in amsterdam -- 8:00 a.m. in amsterdam. full-year operating profit beat the highest estimate, this is a bank which runs most of its revenue -- which runs most of its revenue from the u.k. economy. to buffers of , 17.7%, the dutch win right in line with what the analysts expected. what does this mean for dividends? the capital remains intact. the final dividend comes in at 80 euro cents per share. from?did it come let's talk about metals and miners. anna: let's have a look at what has been reported. remember our conversation with -- from blackrock management. tinto full-year underlying profit $8.63 billion. they are giving us details on their net income and t

you will see moves in asia. the phillipines and other places where you will see some reaction and some move up in policy rates. >> asia seems to be ready and the weak dollar story has to deal with the strength in this part of the world. > it's a growth story. asia is the higher data when global deproth is strong. we like singapore. you heard about a very confident government talking about upgrading its outlook on growth and consistent with that view. if you look at the way the monetary settings for a flat no appreciation, we think that will be adjusted. e like playing this story. >> a confident city. thank you for your insights. dave fernandez, chief economist. make sure you turn into to our minneapolis president later today and still to come, why digital will add $1 trillion in the next three years. kakhkari, next. >> microsoft said digital prouth consists of 60% growth in asia. i talked about the power of a.i. of capital intelligence. >> digital transformation is on the agenda and we have been interested of wh

welcome to asia business report live from singapore with me, mariko oi. we start with markets and we had another volatile trading day of the night, wall street ended the day practically in freefall and now we're seeing asian shares down as well. monica miller has the latest. monica, wow, what a week? it's been intense. the asian markets are taking wall street's lead s&p m _7 seng isjust opening, it closed down! down as if seng isjust opening, it closed down! down as - if we can yesterday down as well. if we can look at what happened in the us, again itjust sank right to the bottom. the dow jones again itjust sank right to the bottom. the dowjones industrial is now down below 24,000, closing more than 4% down. snp 500 and nasdaq as well. it's been a nerve shattering kind of weak but there's one rally that would have made bigger news on any other date and that's twitter, twitter has made a profit since the first time it started trading publicly since 2013 —— day. we will keep an eye on the rest of the asian markets for today but what's going to happen w

and in asia. because in through we went up to fast weather last year or this year the stock market the u.s. is still up twenty one percent from a year ago no one ever knows when something's coming but one thing is clear though the data is stable there's no impression it will just keep falling. and get elsewhere in europe a similar conclusion but i think what's happened in the calls a couple of days has been a little bit of a hangover from those friday's tyros numbers and in particular the shot brought is in wage growth and that i think has really crystallized concerns the federal reserve will embark on a much faster tightening cycle and that's push bond yields up but it's also put pressure on the u.s. stock market worries that an era of cheap money is over have sparked new concerns about a slump in asia the hong saying in hong kong fell more than five percent on tuesday tokyo's nikkei index also didn't go untouched. this isn't normal it's got to be because of the plunge in the u.s. i thought the e

we find out about triathlon‘s plans for asia. it's monday, everyone. good morning, asia. hello, world. thank you for joining us for this edition of asia business report. we begin the programme with the asian markets that are offered from heavy selling last week following volatility on wall street. we had the bench mark indices injapan, hong kong and shanghai falling at least 10% from recent highs. chinese equities in particular were under pressure, partly due to the weakening of their currency. should we be bracing ourselves for another wild ride this week? i asked that question earlier. investors seem to be responding to increased expectation that in flirtation will pick up —— inflation will pick up. the strength that we are seeing in global economy that is driving market and as we may be in the midst of this shift, i expect investors will see more volatility that has the workers went through the market. inflation and potential increases in interest rates are basically feel all of this volatility in the stock market over the last week. on wednesday, you have the cons

stock markets in asia poised for their biggest jump since stock markets in asia poised for their biggestjump since the end of 2016. traders remain an edge after a rollercoaster ride over the last 24 hours. taking to the stand! the controversial former boss of uber, travis kalanick, is accused of orchestrating a plan to steal trade secrets from google. let's show you the numbers now. you can see how the dowjones ended the day on tuesday, a big turnaround for wall street and that has been followed through in asia at the moment.

nothing like what was seen in the us and asia. yesterday. nothing like what was seen in the us and asiali yesterday. nothing like what was seen in the us and asia. i think we will see a reflection of asian markets. a little pullback. i think we have probably got a couple of days of this. probably by thursday we will start to see some buying coming back into the market.” we will start to see some buying coming back into the market. i can hear people making their decisions as we speak. we move city am. a picture of uk prime minister theresa may with a bit of a look on her face. make your mind up time, in bold. the new negotiator warns that it is time to decide on a brexit plan. people have been saying that, from all quarters. this is so much about the language, the prime minister has said we do not want to be part of a customs union of any form, then they talk about a customs arrangement to give the uk access to the european economy post—brexit. this is where the semantics leave a lot of people cold. and importantly leave business struggli

including thailand, asia, new zealand and many more. and we are currently negotiating additional agreements. australia is often referred to as a the lucky country. a country with an abundance of land. we're the same size of the continental united states but with the same population as florida. we have an innovative and diverse population. one in every four australians was born outside of australia. and one in every two australians has at least one parent who was born overseas. so diversity is our strength. and we're fortunate to hold the record among developed nations for continuous economic growth. our last recession was in 1991. we have entered now our 27th straight year of economic growth without a significant downturn. but the truth is we've made our own luck, and trade liberalization has played a very large part. as a nation australia produces far more than it consumes. open markets better enable us to sell our express production which in turn generates more opportunities for our people. since 1964 our two-way trade with the world

in hong kong, welcome to daybreak asia. markets are set to edge higher after wall street ended at highs as the dollar slumped. have aominent players different number in mind. foty: is it three or is it ur? 6:00 p.m. on thursday, and more pressure on the president's former campaign chairman paul manafort, now accused of tax and bank fraud. ♪ betty: one long-standing story we are watching is treasury yields and where they are headed, and i want to pull up a is behind thethat volatility we are seeing in equity markets, 10-year gilts -- yields. key level of 3%, and we have been watching that like a hawk, it is almost like a movie. once you get to the big box somee opening, but for will hit that at three years time, what happens after that? we have seen quite a bit of volatility headed as we have been seeing yields had towards this level, but afterwards is the question. what are we going to see in the markets? yvonne: it is interesting you mentioned this earlier, and the markets have changed. they are not buying the dip anymor

it is notjust north asia. the international monetary fund has spoken about the indonesian economy, upgrading its outlook to between five and 6%. the same thing we have been saying that for now this volatility remains confined to the equity markets in the us and in asia. the fear is that if it spills over into the real economy. and groups like the imf, asian development bank and others are bullish about asian economic fundamentals. china grew by 6.9% last year and vietnam 6.8%. the philippines is at 6.7%. we are likely to see this momentum continuing into 2018, which will support corporate profits. indeed. however high interest rates are still a big concern for corporate profits in the us because, of course, the theory is that if interest rates continue to rise at a steady interest rates continue to rise at a stea dy pa ce interest rates continue to rise at a steady pace than what we expected and we have more interest rate rises in the us, that could prove corporate profit because it would make it harder for co

you are watching "daybreak asia ." let's get to first word news with a very optimistic and sunny jessica summers. >> economic growth in japan missed estimates in the fourth quarter. it should expansion of 0.5% from the previous three months. it is down from 2.2% growth in the first quarter. business spending fell short of expectations, rising 0.7%. founder julian assange has lost his appeal against an arrest warrant in the u.k. the judge rejected the defense's argument it was no longer in the public interest for him to be detained for jumping bail in 2012, saying, he should come to court in person to make his case. he spent more than five years in an embassy. trump has president been challenged over potential tariffs on steel and aluminum imports. suchg a meeting, they said a move would raise prices and probably cost u.s. jobs in related injured -- in related industries such as car manufacturing. several manufacturers -- several lawmakers challenged president trump's position. benjamin netanyahu faces the biggest chall

no surprise in asia. that is a fear factor, if rates go up significantly in the us, asia is one of the losers. absolutely and we have questions around us inflation and questions around us inflation and questions around what the rates will be for the rest of the year and investors in asia did not find any clarity in the results released earlier so we are seeing a lot of risk appetite weakened because of concerns that we will see it will go up by more than expected. markets see a 90% chance that federal rates will go up from the march meeting but it was a merry picture in the chinese markets because they have reopened after the week—long new year holiday and they scored their best growth in 18 months and the investor mentality was to buy. the best performers were consumer and transport related stocks like 0antas, consumer and transport related stocks like qantas, and the rationale is clear as we saw millions of chinese take trips overseas and they are spending a lot of money shopping and eating out at res

the us vice president mike pence arrives in asia to meet japan's prime minister — and before heading off to the winter olympics. and we have lift off — for what's being called the most powerful rocket ever built. a strong earthquake in taiwan has left a ten—storey hotel tilting perilously. rescuers are searching for people trapped inside. two have died and about 200 are injured. about 150 have been rescued from pa rtially—colla psed buildings in the city of hualien, a popular tourist destination. these are the latest pictures just coming in. when we look at this hotel, in the long shot, you can see ina hotel, in the long shot, you can see in a moment that it is tilting at an extraordinary level. what looks like the ground floor is in fact the third floor. the rest of it has sunk below ground. until recently we were told there were several people trapped inside. 1—man was rescued largely because he had his phone with him and he could shine a light from the phone. rescuers, they knew then that someone was inside and they were able to zero in on the light. | they were able to ze

good morning, asia, and hello world. clad you could join us for this edition of asia business report. it is tuesday, andi asia business report. it is tuesday, and i am rico he's on. we start off with the world mobile congress in barcelona today, and american politicians have been accused of barring the company from the us market for commercial reasons. operators have been warned from stalking him, mobile phones over concerns that the company is too close to the chinese government. the firm insists it's independent that it's mobile boss told rory katlyn jones that they have big ambitions, whatever happens in america. every year, we have strong growth, every year. we have a chance to be number one, not far away. you think you can be number 11 date with global smartphones? for sure. we have a chance. what are the problems with you achieving that, trying to get into the united states market. you are nowhere in the dutch in the united states market because american politicians do not trust you. why do you think that is? becau

joining us now, it is be trading down in asia. >> as you mentioned it is trading down in asia which is one of the stocks we already know what it is going to do. a note from goldman sachs, they're saying the pretext is about an 8% miss and morgan .tanley saying it is a 6% miss we are looking for the possibility of a share buyback which we didn't get. disappointment on a few fronts. guy: it is a sequencing issue because they're going to change some of their capital structures. bhp as well. joe: they have got the dividend announcement today which is a positive. markets looking at the earnings and saying it is a miss and they traded lower a bit in australia. as you said, return in capital to shareholders but market wants more from the earnings. not looking 100% great. guy: iron ore an issue. joe: podesta financial technology company provides trading technology and they had a good earnings run yesterday but the share rallied about 12%. there was a huge rise for the shares. today, there's been this merger announcement. as you say, it looks like somebody may be new something before it happene

bloomberg markets: asia haidi lun -- "bloomberg markets: asia." haidi lun. >> zumba has bowed to pressure and resigned. with -- disagrees with the decision forcing him out. his years in office have been marred by scandals including selling influence. a newre expected to name acting president until next year's election. no lives should be lost in my name. anc should never be divided in my name. come to thefore decision to resign as president of the republic with immediate effect. haidi: the taliban is offering talks with washington to end almost 16 years of fighting in afghanistan. a letter from the leadership says the war was imposed on the group and the choice is to resolve the situation through peaceful dialogue. the letter says the u.s. must end its occupation and accept afghanistan's right to form a government consistent with the beliefs of our people. oil rose strongly despite new research showing compliance with the opec's upward curve has slipped. fell in january to 79%, the lowest since july according to bloomberg tabulations using iea dat

asia didn't have a strong close. we definitely faded into the close in asia. and in the united states, already pricing a negative start of the session. he will be interesting to see what the european picture ends up looking like. need to talk about the individual stocks story and what is going to be happening in individual names. sectors that have underperformed the last few days. it will be interesting to see how the financials trade through this. what are we seeing in individual names? matt: let's take a look. let's see what is going on as far as individual names. what is going on as far as movers in the market. it will be an open where everything is a moving target. we saw changes in the overnight markets in asia. we could see those changes today, considering the cash trade right now with gains for the most part, and what we see in futures. kind of a wild ride in the u.s.. screen and weov will look at what stocks are putting up the biggest gains and biggest losses this morning. we see the pound and other currencies really shifting right now. look at the mov

rico hizonjoins us now from our asia business hub in singapore. rico, what type of reception can he expect? it could be quite frosty and pence, because of this ongoing trade battles between the two countries. discussions will be taking place as presidents cup considers new tariffs on chinese steel imports. the us negotiating panel will be led by trade representative robert liethauzer who is known to be a china pork and us officials want to see more substantial action from china about addressing trade imbalance rather than constant promises of reform from beijing. there will be new tariffs on steel and aluminium imports and a possible fine over its intellectual property practices. china is the world's largest steel producer and they could retaliate by making life difficult for us companies operating in china. but mr yu is hoping to avoid this and that's why he's flown to washington for this key meeting with us trade officials. we will see you again soon and talk about how that visit goes. the us —— us operators have been warned off from stockin