in asia it was ugly and it was also ugly for the week in asia, nikkei down over 2% in japan, in china the shanghai composite down over 4% and we are talking about 9 and 10% declines on the week. cheryl: staying in asia, vice president mike peps is expected to arrive at the site of the winter olympics in south korea within the next 20 minutes or so, we will be following the vice president's travels, fbn:am continues right now. ♪ lauren: 5:32 in the morning in new york, tgif, i'm lauren simonetti. cheryl: i'm cheryl casone an a lot of breaking news to follow right now. lauren: first house is voting on capitol hill on bipartisan to your budget deal we have fox news reporter griff jenkins live covering it all for us, hey, griff. >> hey, good morning, lauren and cheryl, listen, here is the deal f you are a government employee and you're up all night wondering whether or not you're getting the day off, chances are you better hop in the shower and start getting ready, it appears now as we look at the numbers reaching over 220 that the house has the votes to pass and they will pass this bil

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

how dire the selling has been across asia. the msci asia-pacific index giving up all of its 2018 gains. atth noting that it is december 27 highs. we do have to put it into perspective. the nikkei closed by 4.7%. 10% from its january 23 pick. there was a rate decision in australia. the australian market down. a big seller coming through in the big stocks in china. the csi 300 down by 2.9% on the close. hong kong and hang seng having the worse sessions of the brexit vote. it was a rout in tech players. morgan stanley downgrading the asia textbased today. taiwan semiconductor falling and dragging the taiex to my having its worst session. tencent was the worst performer when you look at them mov function on the bloomberg -- the mov function on the bloomberg. there were a couple of bright spots. only a couple. and they were coming through in the korea pharma sector. 6.3%. a little bit of defensive buying coming through in a couple of the health care players today. anna. manus. manus: great round up, juliette saly, with the latest o

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

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

the most expensive cities in the world are found in asia hong kong and tokyo known for their extremely high cost of living rank first and second respectively in the top twenty cities in the world where you will pay the highest rent in beijing and shanghai to the countries of are just markets and other mega-cities home sellers have stalled and prices have dropped falling slightly in some pockets and dramatically in others it is interesting to note that from the twenty cities ranked seven are asian hong kong with room prices ranging on average between two thousand u.s. dollars and five thousand per month and tokyo with a strong in are followed by shanghai osaka mumbai beijing so enjoy a card and changes in global liquidity conditions and new american policies being pushed by president trump are concerning trade and are likely to send asia's housing markets on a roller coaster ride feeling pressure to keep up with interest rate hikes in the advanced economies in the meantime cindy takes a sixteenth position a list with rents starting from two thousand to near four thousand all depending o

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

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

so far most of his buyers have been hotels throughout asia. a lot of the hong kong i think apartments in hong kong will get smaller and smaller property prices are already so high that the younger generation can't afford them maybe in the future they won't just sleep in space capsules like these for a day or two but actually live in them. a la. 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 seventy year old sean meehan learn the only way for him to escape his cramped living space is to go outside. business with. we've. we've. we've. we've. we've. we've we've. got. waltz king does the honors star violinist andre. millions of fans pay tribute to the to. the maestro also has a home visiting his status. a visit to on the plane. in turkey the conflict zones this week on conflict zone i miss them both to talk to russia cuts at least selfhood his ruling party the a.k.p. she speaks for apology on issues and is close so clos

in asia there's a lot of markets, people concerned that the u.s. and china are inevitably going to butt heads is it going to go in that direction? will it get worse? could we get to a trade war? >> you have to remember, the way donald trump thinks, he's a property guy everything is negotiable everything is on the table i would argue that he and xi jinping are in a negotiation about how to handle north korea. one negotiating item on the table is if the chinese take care of that problem the americans would be willing to back off on trade policy or give them a tpp type of trade deal. there's many things trump would do in exchange for removing that problem, but that's not how people think about it. they think the negotiations are only about trade policy. >> can i ask about the fed what in your mind would represent normalization of policy this year how many rate hikes are you expecting? >> the first thing to understand is their basic view is we've been below average on inflation so long, we should go above average for a period of time the rate hikes are

it puts it right over in asia, and it's a little bit closer to asia than the u.s. the story centers on the chinese casino that opens on japan. it's a little fuzzy. >> it's a lot fuzzy. let's be clear. it's way more financially superior than anything in vegas. joel: macau dwarfs vegas in size of per table numbers. casinos in japan worth that with fever tables. [laughter] carol: right. that loan in the relationship between the company and the u.s. and government officials would be super interesting. matt campbell went there. we got more from him. matt: saipan is the capital of a obscure american territory. if you want to see it on a map, you've got to look for guam, then go right. it's an impossibly remote part of the world, 14 time zones from washington. the quickest way to get there is to flight to tokyo, then double back. it has been since the 1970's american soil. u.s. dollar, u.s. mail, federal law extends there. this is for more than intensive purposes part of america. >> talk to us about 2014. matt: the biggest issue since the second world war has been finding

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

asia mostly down. european stocks down right here. dow was down 131. ♪ connell: what's happening now. get too caught up with some headlines that the biggest of the bed should be the market this morning. the dow futures down by 129 points. s&p off by a. follow-up on friday reduced the red across the board on our screen following on morning on down 129 of the dow futures. in the meantime introducing an immigration bill ending the budget to republican senator john mccain and democrat chris coons unveiled a proposal that offers a path to citizenship for dreamers but it stopped short of funding the border wall. the government runs out of money as of friday and tied in a budget deal to a solution on immigration. north korea sending a high-ranking delegation to south korea this week with the winter olympics to improve some of the relations between those two countries that the trip is sparking speculation that direct contacts between pyongyang and washington could possibly happen during the olympics. vice president pence heading over there

, or an asia—pacific. and that is substantive. hong kong's held the title of the world's priciest city for home—buyers for the last seven years, but one local architect thinks he might have come up with a solution. james law's micro—housing units are made from a rather unusual material — concrete water pipes. the stackable pipes are laid on their sides, and each have a kitchen, bathroom and sleeping area all squeezed into an 11 metre square cylinder. james told me what pushed him to come up with the idea. we are struggling with this everyday. the young people here are really struggling to find their first steps in life and to afford a place to live. as an architect i was responding to the pressure that i see every day to find a new kind of design that could inspire them. do you think this will be popular with people looking for affordable housing? i think it is an alternative and i did this project really as a way to generate some positivity and some optimism. i think there is an opportunity to reall

we talked about asia a little bit what's what's the big markets over there the hang seng the chuang high composite. you know how are those markets doing well china is always far more speculative than we are in fact somebody actually said to me once he said he was over in china and he said you know it's like an organized capitalism over there they're far more actually entrepreneurial and very speculative they've actually taken out of lot of loans don't forget they're buying on debt take out the stock market so they will have obviously great swings that europe will and what about the nikkei that japan the nikkei average about the same thing but not to the same extent of the chinese they don't but they're not as speculative as the chinese are that. take as much risk you know you know i talked to one of the headlines a investors are worried about some of the economic data coming out in peru in particular u.s. inflation data is coming out on wednesday yes and it's almost like there's a hair trigger that mentality that anything you worry could indicate more volatile markets is that just h

chang games on its way to asia he told a u.s. missile defense a city in alaska that could respond to a missile launch in pyongyang. president trump is steady he always believes in talking. but i haven't requested any meeting. but we'll see what happens but my message whatever the setting whoever's president will be the same and that is that north korea must once and for all abandon its nuclear weapons program and ballistic missile ambitions and it must succeed to the wishes not only of nations across the region of the united states but nations across the world. the u.s. house of representatives intelligence committee has voted to make public a memo prepared by the committee's democrats as a rebuttal to a controversial republican document that was really some friday the republican memo was declassified by president trump and it contained allegations of f.b.i. bias and a piece of. the f.b.i. questioned the accuracy of the republican memo saying it contained emissions of fact the committee's top democrat adam schiff says the preside

shifting to a conditions based approach, the south asia strategy marked a change from the status quo. we intend to hold pakistan accountable. we also encourage restraint and pakistan's nuclear and missiles program and seek continued close are alignment of pakistan nonproliferation policies with our own. we continue to the value our relationship with pakistan and recognize the benefit of cooperation. pakistan played an important role in pushing al qaeda close tore defeat. combatting isis, securing nuclear weapons, refugees and providing access for supplies and equipment used by u.s. and afghan forces. we acknowledge the sacrifices the pakistan people made to combat terrorism. we have shared with pakistan and south asia strike that psychiatry and detail and made expectations clear to pakistan emphasizing they have to take decisive action against militant and terrorist groups based there. in january the president suspended security assistance with limited programs which will be decided on a case by case basis. we may consider lifting the suspension when we see sustained aks to address ou

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 had a key us 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 was

look at the fundamentals here in asia. it is growing at its best levels in years, with china expanding by 6.5%. vietnam, 6.8%, the philippines, 6.7%. all of this growth is due to strong and rising demand and rising exports. investors are trying to weigh the pros and cons. with all of this growth, will it mean rising inflation? will it lead to more interest rate hikes? the theory is that interest rates in the us will, umm, they will go up perhaps three 01’ umm, they will go up perhaps three orfour umm, they will go up perhaps three or four times umm, they will go up perhaps three orfourtimes in umm, they will go up perhaps three orfour times in 2018. everyone umm, they will go up perhaps three or four times in 2018. everyone was already talking about that in 2017. from some of the traders and people who do analysis i have been talking to in the last 2a hours, they say this is a healthy correction because of the steep gains in us and asian financial markets in the past year. mike. many people are saying it is a herd mental

that is why we like asia more. if you look in terms of earnings , if you compare evaluations to where they have been in contrast to develop markets, there is more room to grow. they are not cheap, but there is still some upside left in the cycle. rishaad: christian, stick around if you would, lots we want to talk about. christian nolting, global ceo of deutsche bank wealth management. still ahead, we break down earnings from some of the biggest names in the game. haidi: next, we run through what is expected from the indian budget and the potential obstacles ahead. this is bloomberg. ♪ haidi: it is budget day in india with the government walking a tightrope. prime minister narendra modi must decide between fiscal prudence and giveaways to get more votes. >> it is going to be a balancing act for the government as it presents its penultimate budget before elections in 2019. the finance minister will have to walk a tightrope, trying to manage budget deficits on one hand and take populist measures and spend money wher

the coffee industry in laos is one of the fastest growing in asia its output is still small compared with regional leaders like vietnam and indonesia but fuelled by increasing demand from neighboring china production grew by more than eight percent last year ro is say laos has a real opportunity to take the industry to the next level through improved infrastructure like better processing facilities he must have financing but despite it being one of the few lao export products is no sign the government is willing to help. put. on the radar projects on hydropower on mining on tory right no small are not enough supporters. indeed the government has big plans to shake off the tag of one of asia's poorest countries it wants to graduate from the united nations least developed country status in the next twelve years and it's turned to china to help fund big projects like this economic zone just outside the capital. which is being built in anticipation of the city expanding quickly and a six billion dollar high speed train line that are run from southern china. but the amount of money the la

in the united states is the dominant power in the asia pacific. it weren't, logically, china become such a power and it obviously is trying to but this raises the question purposeat exactly the or the goal of american foreign policy is. of world does the united states want? and so far in this we haven'tion received clear answers to that. they have repudiated some policies of the previous administrations, democratic and republican. acrossn capitol hill the the rotunda, and congress and for decades there washington we called consensus and this was the largely bipartisan approach to when it came to the u.s. leadership role in the world and as part of this america-first policy and the talk about the swamp and all that, now, it seems this doesn't really want to shoulder the burden of guarantor of global security. and while there might be merit in arguments supporting that, it would be good to articulate whatever the policy is, whatever type of world or local community, international system this administration thinks will u.s. and, ithe think we are sti

donald trump did a tour of asia. he had criticised rex tillerson's less ha rd—core asia. he had criticised rex tillerson's less hard—core approach. they said they would welcome talks. they said they would welcome talks. they have also defined it as a strategy of maximum pressure and engagement at the same

that will be naturally across all markets, taking on board asia. but if the number is what you expect to be lower than the previous month, could this calm down the markets and clear the way for more gains. certainly the other side as far as what the fed is prepared to do. the market is tipping we will seek to rate rises or possibly three and it's all stemming from inflation numbers. you expect two, three or four rate hikes this year, from the us central bank, when will be the first one? the next 60 days, something by april. you may see it sooner. something by april. you may see it sooner. just depends what they are prepared to do as far as voting for it. ratcheting it up relatively quickly. and then that mindset, as far as quickly. and then that mindset, as faras do quickly. and then that mindset, as far as do they introduce that bird rate rise later in the year? shifting our attention to india and citi has banned the use of its card —— cards to purchase bitcoin and other crypto currencies. what is the current standard india regarding these cry

daybreak asia at 7 a.m. hong kong time. this is bloomberg. ♪ haslinda: new york, new york, it's almost 10:30 p.m. in new york city. markets pretty much focused on the prospects of the pace of rate increases, but some jitters out there, possibly for greater rate increases. david: here in hong kong, the all of session, so for you "lord of the rings" fans out there, that is our version of the twin towers. it appears the clouds of mordor loom large. any sort of gains you would hope for being capped at the moment. haslinda: you're watching "bloomberg markets asia." let's get a check on first word headlines. : as the minutes of janet yellen cost last fed meeting showed policymakers more positive on the economy and increasingly optimistic they will reach their inflation target, officials said they expect their rate of growth to exceed initial estimates and that the labor market will continue to strengthen. minutes show several members have raised their forecasts from december. ford's head of north american operations is leading,

from the neon lights of asia. to the city that never sleeps. i know there is still very chilly for many of us in the southeast parts of china the temperatures in shanghai will still be struggling on choose they are maximum just four degrees but they do get a bit better as we head through wednesday this time up to seven so certainly not warm by any stretch of the imagination but a lot better than they have been the temperatures also rising elsewhere as well hong kong back to sixty one hundred nineteen there is a little bit of what weather though but for the south that's over parts of blues are mostly in the north and we've also got more wet weather in the southern half of the philippines as well and that's stretching down through borneo and down towards java and this is the region where we're expecting the wettest of the weather as we head through the next couple of days towards the west it's generally a lot drier for many of us here have a k.l. and singapore that should be plenty of dry weather during the day the temperatures generally hovering

good morning, asia, hello, world. magic a drone is this midweek edition of asia business report. i am rico hizon. we start off with the us president's summit, donald trump jr, he will be talking with buyers of trump branded apartments. could xa he is cashing in on the president's name but mr trump says he has been building relationships in india for years. we managed to catch as he was leaving trump tower. on his first day in india, donald trump on his first day in india, donald trumerwas on his first day in india, donald trump jr was not giving on his first day in india, donald trumer was not giving away anything. sir, one should be meeting the prime minister as well? a potential meeting with india's prime minister has stirred controversy. donald trump jr will be minister has stirred controversy. donald trumer will be addressing the global business summit on friday alongside narendra modi, but he insists she will only be conducting business, not politics in india. —— he. and insist developments like this one of the only reason he is in india. just this one of the only reason

and joining us on skype from jakarta been germans a walkie a human rights researcher and southeast asia analyst thank you all for joining us i want to start with you you say efforts of u.s. president donald trump to ban him free to all citizens of several muslim majority countries based on their nationality was a transparently hateful move what kind of effect has that had on the rest of the world. the united states is one of the most powerful countries in the world and president tom started as an electoral campaign with a very hateful divisive rhetoric against women against minorities against muslims and then in the last one report shows how this is played out into concrete actions and policies it's not just the discriminatory muslim travel ban it's also the massive reduction in the refugee settlement numbers in the united states it's never been as low as the since one nine hundred eighty he's also introduced the global gag rule which means that one point eight billion dollars have been cut in terms of women's reproductive rights now i travel across the world and meet leaders from so ma

good morning asia, hello world. glad you could join us for this exciting edition of asia business report, i am rico hizon. we start off with the us and federal reserve has released minutes, giving an upbeat assessment of the economy and inflation, changing expectation about interest rates have created more volatility in the markets, just like what happened on wall street yesterday, opening on the plus side but closing in negative with the dowjones down by 167 point. as for asian markets, currently open and it is a mixed bag. the nikkei up and the all ordinaries down the. earlier i put the question to our reporterjoe miller in new york. if you ask the markets when they had closed at 4pm the answer would yes but if you ask the answer would yes but if you ask the markets just a a few minutes after the minutes can out it was anyone's guess and you will know that usually when these minutes come out, a few minutes later my inbox and your inbox i am sure is filled with comments of analyst and pundits explain what they mean

i says that began with the collapse of thailand's currency the botton spread across east asia one of the main factors was high public debt in the affected countries including laois and now similar warnings about governments in the region borrowing too much money are back why in a reports from the laotian capital vienna. the coffee industry in laos is one of the fastest growing in asia its output is still small compared with regional leaders like vietnam and indonesia but fuelled by increasing demand from neighboring china production grew by more than eight percent last year ro is say laos has a real opportunity to take the industry to the next level through improved infrastructure like better processing facilities reverse her financing but despite it being one of the few lao export products there's no sign the government is willing to help. on regard projects on hydropower on mining on purgatory right no small are not enough supporters. indeed the government has big plans to shake off the tag of one of asia's poorest countries it wants to graduate from the united nations least develo

europe and asia catch wall streetjournal, this jeremy corbyn. europe and asia catch wall street journal, this is jeremy corbyn. europe and asia catch wall streetjournal, this is about equity markets falling sharply, why is that, lucy? the dowjones equity markets falling sharply, why is that, lucy? the dow jones has taken his biggest hits since 2008 and this comes off the back of strong wage growth data which has raised the prospect of excel rated interest rate rises which will have an impact on borrowing —— accelerated. and so the question is whether this will force the us federal reserve and the european central bank to cut their crisis in iraq stimulus. —— crisis era stimulus. it feels like a pivotal moment, the cheap money is going and thatis moment, the cheap money is going and that is what is freaking the market is out. another one, i don't think we have seen the end of this, but i'iow we have seen the end of this, but now to brexit. we did not start with it, so maybe that was a novelty, time to make a choice on trade, barnier tells

and we'll have more on why one of asia's chorus countries too much from its neighbors. hello there heavy rain is now clearing away from north america but we've got another system that's beginning to pull itself together so here's that first system that's moving away from the east coast it is dry and now for many of us here and that's the way it will stay as we head through tuesday night warm though look at that new york maximum temperature just three degrees and force in ottawa minus six the next system is waiting in the wings it's this here it's all beginning to pull itself together so some snow that's making its way across the plains there joins forces with what's going on over texas by wednesday we've got this streak of rain and snow that's galloping its way east once more and that will give us some more very heavy downpours but fortunately it's moving quite fast so it shouldn't cause too many problems with flooding there for the towards the south and generally there's a lot of fine a settled weather to be found here and that's what we're going to see over the next f

and then asia. risen through should we went up too fast whether 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 divide to get elsewhere in europe a similar conclusion but i think what's happened in the last 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 pushed deal's up but it's also put pressure on the u.s. stock mol case worries that an era of cheap money is over have sparked new concerns about a slump in asia the hang seng in hong kong fell more than five percent on tuesday tokyo's nikkei index also didn't go untouched a sicko. this isn't normal it's got to be because of the plunge in the u.s. i tho

leisha santorelli joins us from our asia business hub in singapore. it really goes to the heart of the changing nature of china and its economy. the data shows that growth remains robust in the world's second largest economy, absolutely. imports beat estimates by a really wide margin, rising by 37% in value from a year earlier. to compare that, markets were expecting a 10% rise. as for xbox, they rose about ii%, which shows they are still in strong demand. another interesting point i wa nt to demand. another interesting point i want to make, china's trade surplus with america narrowed from last yea r‘s record level, with america narrowed from last year's record level, which is a positive sign to beijing, given they have a very sensitive trade relationship with president trump. analysts a re relationship with president trump. analysts are saying we need to treat this set of data with some caution and that is because the trade members are actually being magnified by something called seasonal volatility. for example, there was a surge in oil shipments

south asia is home to two nuclear-armed countries. it's also home to the highest concentration of u.s. designated foreign terrorist groups so we have enduring interests there. our strategy emphasizes regional cooperation to reduce the threat of terrorism, reduce the threat and possibility of nuclear conflict and to put pressure on the taliban and other parties to seek reck sills. -- reconciliation. we remain engaged with pakistan to protect americans, to protect our homeland and ensure there are no safe havens from which terrorists can plan and operate to support attacks. our strategy focuses on the region as a whole and shifts from a time-based approach to a conditions on the ground approach and promotes political settlement. regarding afghanistan, we focus on four key pillars known as the so-called four "r"s. regionalization, realignment, reconciliation -- neutral easing potential spoilers and creating the conditions for durable political solutions. as the deputy secretary noted, i would also note we were pleased with india's role i

hello the areas of rain in this part of the world really southeast asia and beyond stands it right down to indonesia consolidates you got a line that runs through western java through to north and sort of ways you know one two western side of borneo up towards the philippines typically we've had well over one hundred millimeters in these lines and outside the chile nothing in fact the full cost the philippines is the showers diminish but this other two lines continue to expect more flooding in west java if you are further west and north enjoy the sunshine it's bone dry now through rest of malaysia and up through thailand and a good part of mainland southeast asia attempts to study around the thirty or thirty one mark it is the wet season you know straight here it's been exceedingly wet in the north both northwest and northeast you see the showers bloom doesn't really give you the story because of course is a huge continent and that becomes a large area there's still flooding in the highway that runs down the coast for example of eighty mile beach looks like a sea conceit on social media

and parts of europe, and certainly asia. that has been a bit of a disappointment relative to global markets. but you are right, it has this energy component. i think that is the -- the oil price as well is well supported. it does have some cheapness. it merits some of that discount. does, in most sectors, does merit some attention. i think the stock market is reasonably priced in that regard. manus: where do you stand with the bank of england? the market has repriced the bank of england as well. i have never heard such a of gilts andcing many years -- in many years. ben: of i think we are a littlet more but nine it -- benign on gilts. hawkishet has been more than we were anticipating. it has come from a position of great concern about brexit. not ignoring that, but it has less emphasis in their analysis now. they are focusing much more on labor markets, which look extremely healthy. that tightness in the labor market is something that the bank of england are talking more about, and therefore there has been this repricing. wh

taking a different view aside from the big reininsurance, when you look at life insurance, is asia the place to be and are they moving aggressively enough? >> in europe when you look around and see growth is a challenge for most insurance companies, one stock that a lot of european investors turn to for growth is prudential they're big in asia and the whole dynamic around asia growth, underinsurance, filling that protection gap, all of that is very much part of the prudential story for growth, names like prudential are top of investors minds. >> great conversation. thank you very much for joining us marcus rivaldi there >>> societe generale posted an 82% plunge in quarterly net income fourth quarter profits suffered from tax related charges and retail banking restructuring costs, but the french bank exceeded expectations from analysts who were forecasting a loss for q4. socgen says it is starting out 2018 with confidence in a financial environment that should be more favorable. >>> and joumanna spoke to the deputy ceo of societe generale about the results and asked about the volatility

asia is a big part of our business. australia.t includes you look at japan, the opportunity in south korea as well. china, for now, is a small part of our business. in reality, we have more business in south korea and thailand and so forth. asia is very strategic. the customer behavior is very interesting. a lot of the customers are streetwear oriented looking for pieces that can make a statement. , because theting way you interact with that customer and the global offering we are offering everyday. vonnie: we were talking about far fetch.looking at the ipo are you? . i won't comment on this we are doing very well and have a good momentum behind us. mark: what is your valuation? ulric: i'm not going to comment on that. thank you, very much. chiefmatches fashion executive director. we will speak with the chief executive of nedbank. this is bloomberg. ♪ mark: from london, i am mark barton. vonnie: i'm vonnie quinn. this is "bloomberg markets." mark: the global stock rally is continuing. us for more is the fx strategist.

asia farction north outstripped north asia. that began two years ago and is now getting really good at traction. paul: crown will be opening a casino here in 20:21 p.m. how much of an impact easy that on your business? >> it will -- in 2021. how much of an impact is that on your business? >> it will obviously have an impact on our business. part of what we are doing is upgrading our facilities. we are doing work around loyalty and customer service to make sure we are in the best shape we can be when the competition arrives. paul: you mentioned the domestic gamers. we have week wage growth in australia. rates, the next move will be up. how will you attract the mystica gamers in that market? >> they gaming category -- how will you attract domestic gamers in that market? >> they gaming category in australia is very complicated. it is about $1200 per year. a big part of our growth is share shifting. most of our competition are the clubs that are around us. if you look at our facilities, they're quite unique. we have unique offering

up or down the markets are taking it easy at the start of the new trading week from asia to europe stocks rebounding after two weeks of heavy losses we talk to an analyst in hong kong. also coming up iraq's billions of dollars to prop up its economy a donors conference in kuwait discusses the country's reconstruction and the cost involved. on the. trouble with discarded plastic and paper cups the german city of hama now tackles the popular coffee to go culture introducing re usable cops a relief for the environment and for street cleaners. welcome to your business i want to get jones in well in thanks for joining us on the good news first european stock markets started the new week firmly on the front foot a welcome respond after two weeks of sharp falls but investors breathing a sigh of relief should note there is more volatility expected in the coming weeks so keep your seat belts fastened. khan's hang seng index finished the day down zero point two percent reversing minor rises over in japan markets were closed due to a public holiday but last week the country's benchmark nikkei had it

he used a year behind bars to reflect will reflect with our asia correspondent in a moment first this report. bribery perjury embezzlement just some of the charges in the long list levelled against a legion a young one up south korea's wealthiest and most influential managers nevertheless he served just one year of his five year sentence and is now free. again i feel very sorry to everyone for not showing my best side and it's been a really precious time for a year reflecting on myself that i will thoroughly check and do my best. to. lee was the subject of the biggest bribery scandal in south korean history in his first court case he was found guilty of bribing then president park geun hay in return for political favors the appeals court on monday dismissed most of the charges saying lee was coerced into making the payments more than three million dollars simply for horse riding lessons for the daughter of one of president park's friends two other samsung managers also had their sentences commuted to probation leave the grandson of samsung's founder is estimated to be worth around eig

asia is the latest to follow that trend after the plunge on wall street. —— wherever you go. we start on wall street where its been another gut—wrenching day for investors. us share prices have plunged again — the dow jones industrial average wiping out more than 1000 points for the second this week, on those concerns interest rates could be rising a lot faster than expected. the main us indices are now all down over 10% from their record at the end of january, the official definition of a stock market correction. here'sjoe miller in new york after some of the most turbulent days, it looked like the dust had finally come to settle. but on thursday volatility returned with a vengeance thursday volatility returned with a vengeance and the dowjones recorded its second worst one—day points drop in history, plunging over 1000 points. in percentage terms, that is just over 4%. it has fallen into what is known as correction territory, losing 10% of its recent peak. all 30 shares fell in unison, in part because people saw us government that prices fall to four—year lows, indi

going and and out to from the proper island to the outlying islands and back-and-forth to southeast asia. so this represents a very dangerous move just from a public safety perspective. but to understand the reasons why beijing has made these moves. you need to look at the last time there was a major negotiation on these routes. there were initially discussions -- both leading organizations and another important office is going to be an charge of taiwan's work. it will have a new leadership. so there is essentially turnover and some key leaders within the ccp that are responsible for taking policy for taiwan. perhaps that we've entered a new year, it should not surprise us that much that we see a more stern, former hand being taken with more aggressive action to roll back taiwanese relations the the vatican and continuation of the sort of rolling back. another action is to restrict and essentially take away taiwanese agency, which is essentially what this represents. another consideration is that 2020 is not that far away. and the election and 2016 was a major setback for the prc in term