we are counting you down to asia's major market shery: openers. welcome to daybreak asia -- u.s. stocks finished higher but pair gains on fear the coronavirus may be economic recovery. the concern overshadows a big jump in payroll numbers. haidi: tesla stays in the fast lane, having overtaken toyota as the world's most valuable car company. elon musk returns to twitter to taunt his critics. and washington approved sanctions on china over hong kong as a top white house adviser says the u.s. is increasingly unhappy. new trade restrictions could be on the way. let's look at how we are setting up in asia for that final trading session of the week. to trackstocks are set wall street as we assess the latest job numbers from the u.s. we did see some sluggish data indicating the pace for hiring maybe cooling as the virus spreads. just keeping an eye on that. ae index could be headed for weekly gain that could massively sway sentiment. we have retail sales to from singapore and inflation numbers from thailand, along with a pmi reading from china. overall, we are set to end the week higher

welcome to "daybreak asia." tech weakness is set to drug on asian markets, microsoft and apple leading losses in new york as hopes for a fast virus .ecovery start to dim cases surged in several u.s. states. in highg in tokyo marks, and india considers new lockdowns. brussels sets the stage for another battle with washington as it tightens rules on the internet today. we hear from the e.u. commissioner of justice. shery: japan, korea and austria are coming online. let's get to the market action with sophie kamaruddin in hong kong. sophie: we could see consolidation on late eco-data, with singapore exports headlining. we are focused on the tech space, giving signs that the nasdaq maybe speaking. peaking. we are seeing light gains for .oth the topix and the nikkei we are keeping an eye on banks and brokers as well, on a news report that the government is considering eliminating a client information firewall. ,his morning, the yen is steady set for a weekly drop ahead of the boj's buying on the front end. less check

columda: asia tech editor murphy in beijing. let's get a quick check of the business flash headlines. unilever posted better than expected profits for junes, boosted by a new emergent customer stockpiling amid the world's biggest virus lockdown. unilever reported a 7% rise in net income with revenue up more than 4%. markets were more resilient than urban ones, reflecting an exodus from cities. amazon with a new record in the second quarter amid rising antitrust scrutiny in washington. it spent $4.4 million in the june period, up almost 10% from the same time a year ago and slightly higher than the bill for the march quarter. amazon and other big tex rivals under investigation for abusing with to stifle competition coronavirus boosting demand. facebook is adding information about the upcoming election, including messages from president trump and joe biden. the labels will tell users to seek official voting information and include a link to usa.gov. facebook is reacting to criticism that it has not done enough to combat elections.

welcome to bloomberg markets: asia. asia markets are mostly higher as chinese inflation comes in pretty much as forecast. mainland shares are clinging to the recent surge with stocks up for an eighth day. haslinda: the coronavirus pandemic marks another grim milestone with cases in the u.s. topping 3 million. hong kong has another day of local infections disrupt ingots long virus-free run. yvonne: bloomberg learned google has abandoned plans to offer a major new cloud service in china and other politically sensitive countries. we have the latest from beijing. haslinda: let's do a check on the markets. asia mostly higher, building on gains, sentiment gaining momentum somewhat. u.s. futures pointing to a pretty lower open, albeit on the , all that s&p, the nasdaq eyes will be on the u.s. job claims. brent crude for the 3.24, stuck in a holding pattern. trading volumes have fallen by about a third since the start of this month. u.s. inventories rose by 5.6 5 million barrels last week. gold at 1820, looks like gold above 18

asia's major markets have just opened for trade. welcome to "bloomberg daybreak: asia." an uncertain start with futures sliding in tokyo. level equities have seen three weeks of gains as investors bet on support for post virus recovery. global infections 14 million with deaths above 600,000. los angeles facing a frack lockdown. while-- a fresh lockdown, tokyo and hong kong report numbers. kong,ition with hong dominic raab set to address the comments later. >> japan, south korea and australia coming online. let's get you started without japan has kicked off trading. ,he nikkei up .3% communications stocks and materials and tech leading the gains among japanese stocks as we saw the export numbers for 26.2%, aontraction of third consecutive month of 20% or more. we are getting the boj lines from the gym policy meeting saying some efforts want to -- the june policy meeting saying some embers want to keep supporting companies as the japanese yen holds flat. it has been trading at a narrow range after we saw the boj leaving main policy levers unchanged. take a look at what sou

do you see that rotation into asia and in particular, e.m. markets in asia? ajay: i think a bit of that is beginning to happen now, especially given what is happening to chinese equities, which we like a lot. i think the dollar have to probably weaken a little bit for that to happen. earnings numbers will have to pick up. and i think we need a little bit more international flow into e.m. equities and especially into chinese equities. there is a big clarification between what is happening in china, taiwan, and korea compared to india and let america. a lot more -- and latin america. a lot more cyclical. so i do think if the data it's better and the surprises are still pretty strong, and people are under positioned on cyclicals, maybe some cutting of the beds of growth and secular stories is appropriate. i'm not saying reverse the bet, you reduce the bet. said thatu recently the u.s./china potential cold war could be good for investors. tell us more of the rationale behind that? because what happens to revenues and profit margins if you see more companies being

asia is a clear preference, and within asia, north asia and east asia as well, with the japan equities upgrade we just talked about. shery: in china, what do you make of state media trying to encourage investors to get into the stock market to foster a healthy bull market? are you concerned that perhaps with this huge rally we've seen him a we could end up seeing another bust like in 2015? ben: i think this is very different from 2015. of course the moves we've seen in the last week or so is rather striking, but the policy setting in china is extremely different to 2015, when policy was very loose. outstanding in its unusualness of actually having a positive interest rates, both real and nominal. it is striking to me that the pboc has stuck to that. perhaps as they continue to focus around the longer-term aspirations for the deleveraging campaign and so forth. is muchhina, the policy different from 2015, and it is less loose monetary policy driven. for me, this seems to be a more fundamental move on a market which is not, obviously, expensive, when one looks at various valuation measur

welcome to "daybreak asia." asian markets set to start the week in risk off mood amid a tug-of-war between further eco-data and worries about the coronavirus. the aussie dollar recouping losses. handling trump lauds of the pandemic as cases surge at home and abroad. the world health organization reports a one-day high for global u.s. infections. secures akyo governor second term, a landslide victory while still aiming to host the olympics next year. sophie: let's take a look at how markets are shaping up at the start of cash trade in tokyo. the nikkei 225 slightly to the upside. the topics adding 0.2%. the focus on tokyo, cases top 100 for four straight days. the yen looking little changed. active trading could be muted before the 30 year sale on tuesday. we are going to see whether steepening will continue to build after a gap between 10 and at 58 basis points as we are seeing those spreads billed for japan and elsewhere. thirdvernment prepared a -- approved a third extra budget on friday, the kospi, the korean

karina: this is "daybreak asia." hong kong is waking up to a new reality with hundreds of people arrested on wednesday during protests against the national security law. police say 10 of those obtained are accused of reaching the new legislation, which can carry life sentences. the u.s. pledging a strong response to what it calls a draconian law. the u.k. may offer up to 3 million hong kong residents the right to move to britain. all makers in washington have unanimously passed a bill imposing sanctions on banks that do business with chinese officials involved in the crackdown in hong kong. the house bill is similar to a measure approved by the senate in response to beijing's move. nancy pelosi says china's actions signal the death of one country, two systems, that has been in place since the 1997 handover. in oil, the corruption trial of the former malaysian prime has been halted in an upcoming local election. proceedings in the 1mdb case will resume on july 15 with a further delay permitted if he has to attend parl

asia-pacific, off .7%. japan is closed, by the way. china and the china is lower by by 2%.hina is lower futures in the u.s. are looking modestly positive, up .1%. we are going to be looking at currencies, but also individual stocks in focus today. here are the currencies. the yuan has weakened, modestly at 0.71, the australian dollar has been weakened by .1% of the kospi is flat essentially. the 10-year yield, 60 -- 58 basis points, a move into the tent-year yesterday at the close of play on wall street when it was a risk off move. next board, individual stocks we want to focus on. there has been a comment from xi jinping, the president of china, of has come out in support automakers in china. to 12%, tencent leading declines, posting losses in hong kong. abs-cbn posting another day of heavy license heavy losses after they failed to get their postingrenewed -- another day of heavy losses after they failed to get their license renewed. rishaad: let's look at what is going on in the u.s.. high-frequency data related to employment, restau

haidi: asia's major markets have just opened for trade. welcome to daybreak asia. asian stocks are set to track u.s. markets lower as traders digest a raft of pandemic affected earnings. among them, mcdonald's and starbucks. coronavirus cases surge in southeast asia and india. the philippines issues a worry about hospital beds. the good times keep rolling for china's biggest domestic real estate company. a 13% rise in profit. let's get straight to the market action with sophie kamaruddin in hong kong. moments ago, we got the latest virus case cap from china. that may dampen the diminished enthusiasm in today's session. the nikkei 225 up one third of 1%. topics also moving to the downside. the yen holding onto a four-day game and four-month high. a few technical barriers in place. investors may stay on the sidelines before the fed decision. jgb's getting to -- gaining ground. the yen climbs further. u.s. yields extend declines. the u.s. 10 year yield just below 60 basis points at the close on tuesday. we are keeping an eye on nissan. earnings on tap for japan, numbe

let's jump from asia to the middle east. and here, i guess i would start by asking, there has been some discussion that may be the middle east does not matter as much to the united states now as it did at a time, say, when we were importing oil and oil was kind of seen as the key to everything around the world. has the place -- and then the rise of china -- has the place of the middle east writ large changed in america's foreign policy? >> i think in short, yes. it has, and again as we are , looking at things, already in the obama/biden administration, with the so-called pivot to asia, the rebalance of asia, that was simply a recognition of what we saw -- when we considered where are our interests? where our interests seemed most acute, where our future seemed to be emerging in terms of our interest, we were under resourced in asia and arguably over resourced in other areas. and i think that remains the presumably, in a biden administration, where we would see more emphasis in the endo's pacific and more on our own hemispher

we are counting down to asia's major market opens. shery: welcome to "daybreak asia ." growing concern about a resurgent coronavirus and the implications of a recovery puts pressure on rocks. old is above $1800. oil slips on weak demand. infections continue to rise with local members topping 12 million. america saw 60,000 cases in a day for the first time. hong kong and tokyo also reporting record tallies. singapore heads to the polls for an election overshadowed by the pandemic. disposable wear gloves and observe distancing roles at the ballot box. let's get to sophie kamaruddin in hong kong for the latest. sophie: after u.s. stocks closed in the red, we are setting up for a lackluster start to this friday morning. futures are mixed. kiwi stocks added .4% so far this morning. s&p e-minis nudging slightly higher with rising virus infections in focus in the u.s. as well as in asia and on the eco-agenda today, we are watching out for japanese pbi ending acree output and the philippine trade plus chinese credit growth data for june could be released from today. singapore o

we are counting down to asia's major market opens. shery: good evening from bloomberg world headquarters. haidi: here are your top stories -- u.s. stocks fall as the pandemic affects earnings. among them, mcdonald's and starbucks. america's top infectious diseases expert says he is confident we will have a vaccine by the end of the year as infections slow and california and arizona, but florida reports record deaths. secretary of state mike pompeo praises australia for standing up to china as the traditional allies strengthen defense ties. shery: that's get a quick check of how markets are trading at the moment. u.s. futures opening to the upside, point 1%, this as stocks fell. we had traders assessing corporate earnings, not to mention contentious negotiations on a legal stimulus package. we have the s&p 500 nearly raising money. we had traditional sectors gaining grounds. real estate, utilities performing while energy declines. we had worse than expected results from a few companies 3m.uding mcdonald's and the nasdaq composite also

cover on a wildlife smuggling trail stretching from madagascar off the southeast coast of africa across asia to malaysia on the trail of a man known as the pablo escobar of reptile smuggling. well global wildlife trafficking is estimated to be worth billions of dollars every year almost as lucrative as the trade and illegal drugs and arms a key destination for wildlife traffickers as madagascar over 90 percent of the country's animals all found anywhere else making them a prize catch for smugglers including anson wong the man named the lizard king was jailed after a sting operation in 1908 he was soon back in business before being arrested again in malaysia in 2010 at an al-jazeera and best occasion in 2013 travail that those arrests and subsequent convictions did not put an end to his smuggling korea from the 11 east series his return of the lizard king. in all his years of trying to get there is one place the lizard king has always returned to. valley bay lies in a remote corner of madagascar off the southeast coast of africa. it's home to the ploughshare the world's rarest tortoise that d

asia tracking losses in the u.s. investors back to worrying about virus cases in parts of the world, including the u.s., japan, and hong kong. msci asia pac index down. almost all sectors are down. brent crude trading at about $42.12, headed for a weekly drop. the virus impeding efforts to reopen the economy. level.tures above the 18 ray dalio like in gold. csi 300 index down by 1%. large-cap's leading the declines -- caps leading the declines. china's regulator cracking down on margin financing. hang seng also lower by 1% right now. yvonne: plenty more in the next hour of "bloomberg markets: asia." this is bloomberg. ♪ it's pretty inspiring the way families redefined the word 'school' this year. it's why, at xfinity, we're committed to helping kids keep learning through the summer. and help college students studying at home stay connected through our university program. we're providing affordable internet access to low income families through our internet essentials program. and this summer, xfinity is creating a

asia's major markets have opened for trade here -- for trade. shery: welcome to daybreak asia. our top stories this hour. asia looks for a quiet start despite triggering a rally that listed bubble stocks. big tech drove the nasdaq to a record. the s&p 500 on the longest winning streak since december. samsung in the spotlight. second quarter profit and sales smashed expectations. demand for smartphone spirit hong kong reveals new details about china's security law including passport seizures and the power to muzzle social media. haidi: let's get straight to market action with sophie. sophie: after the global risk rebound on monday, we sell chinese stocks jumped the most since 2018. 1% nikkei 225 off a third of after a three-day gain with the wage data today just as well as household spending, which fell by a record in may. jgb expected to rise. open, stocksn the are resuming gains after following on monday. the aussie dollar holding steady after a six-day advance ahead of the rba's decision that it is expected to stand pat. consensus is for malaysia to cut the rate to a record l

more to come on daybreak asia. this is bloomberg. ♪ shery: the csi 300 has climbed for seven straight days. just two days away from the longest run since 2018. can this really be sustained as we approach the china open? we are joined by our across asset reporter from hong kong. things have been leading this really? >> thanks. it is what used to be known as the new economy. predominantly, the china and stocks on the shenzhen market. sectors like information technology, health care and consumer staples. what is also interesting is that momentum has been doing very well as a factor. this is interesting because most quantitative strategists will tell you china is a reversal market. when momentum is doing well, stocks are getting better up -- getting bacet up too much. haidi: you're hearing people say this time, it is different. sayingr retail investors there is no way i can lose money doing this. are we seeing history repeating again? >> history may not repeat itself but it certainly does rhyme. the similarities are

head ofu, dws sustainable investments asia. plenty more coming up on daybreak asia. an exclusive interview with kong saying industries -- hung sent industries -- hang seng industry ceo. this is bloomberg. ♪ >> good evening from bloomberg's mobile headquarters in new york. i am shery ahn in new york. haidi: i am haidi stroud-watts in sydney. welcome to "bloomberg daybreak: asia." stocks looking for a mix start as u.s.-china tensions continue to simmer among allegations of spying. gold futures at new records. global cases top 15 million, quarter and the u.s. with signs the spread there may be slowing. a new index focused on china's tech giants is set to spring into action in hong kong today. we have an exclusive interview with the ceo of the hung sang -- hang seng index company. shery: japan is coming back after a four-day weekend. let's get straight to the action with sophie kamaruddin in hong kong. this morning as they come back from a long weekend the nikkei two to five losing 1.3%. intel announced it was considering outsourcing manufacturing. we are seeing the 10

we have seen this on trade rules in asia. with the trans-pacific partnership, not including china or the united states. that may happen on data, vaccine develop and, public health care. as an american, i don't think that is a very good place for the united states to be, and i don't think it is productive for the two largest economies not to work together. >> but you really will need an enormous amount of something. if it has gone the way of the dodo, then what you are producing with managed enmity is -- the most powerful actors on the international stage, however constrained, they have to figure out or not a way to do with one another. let me ask you on the pandemic china's -- has china's image suffered any sort of permanent damage as a consequence of the whole covid and the rest? >> i think they will emerge -- i from china will emerge this question as the winner. china has suffered partly from the missteps in the beginning but also from the fact that people around the world, they may or may not know what happened in wuhan. t

infrastructure in asia. because china being the first in, there consumers are the first with certainly what we are seeing our investor watch survey much more positive sentiment in asia come or increased positive sentiment in asia, and that may lead to some of this pent up consumer savings being unleashed in asia first. i think you are right to hit on u.s.-china tensions as being a key theme of the second half of the year because it is certainly going to be one of the election issues that we have to deal with. however, i think for the current administration, they have talked about continuing with the phase one trade deal. i don't think they want to pursue that in a way that meaningfully impacts the u.s. recovery at this point. francine: we also have a question of the day, and this is being discussed in our live blog. we are trying to figure out whether record savings, slow growth -- do you worry about people saving more? that as we begin to get a bit more clarity around virus rates peaking in some of these ho

it fell in asia trading. it may outline plans to scale back output curves that have helped stabilize the market. the opec plugs group will -- amid mounting expectation they will start to relax restrictions. we were told top russian producers will prepare to raise output next month. the u.k. is to spend almost $900 million on new border infrastructure. the cabinet insists everything will be in place for the final split despite london and brussels failing to agree on terms. a leak from the trade secretary highlights concerns on border plans. a challenge from the world trade organization. exit polls in poland sure the presidential election is too close to call with both candidates claiming victory. the vote pitched -- pitted a initialtive pundit with estimates giving both 50% within the margin of error. official results may be released later today or tuesday. carlos ghosn says he has hoping those flee japan last year but is refusing to offer details about his escape. two citizens >> accused of facilitating the f

taking offe debt is in southeast asia. in involves lending money to early stage funds, which deals with dilution. genesis is one such lender to early companies. let's bring in jeremy loh. we have heard from some saying that equity finding is challenging among the pandemic. is this the reason why there is so much interest in venture debt? haslinda. that is a pleasure, and thank you for having me on the show. with the covid situation, it has pushed venture debt into the limelight, and it is becoming a mainstream source of funding. andook back on the u.s. where venture debt is known. venture debt in southeast asia is gaining prominence now. important role in funding the growth of any company, big and small. venture debt has claimed the role for funding startups, and cash is very well needed now. up are looking for that much-needed capital growth. haslinda: is demand coming ornly from new startups startups capping venture debt? guest: i think that is a distinction there. venture debt can fund companies in the growth stage. ven

we are cutting you down to asia's major market open. shery: welcome to daybreak asia. our top stories, geopolitical tensions rise further. mike pompeo stokes the flames by describing china's leaders as totalitarian tyrants bent on global domination. the coronavirus continues to dominate as u.s. infections top 4 million while hong kong and tokyo see new highs. india may miss growth targets as the virus cripples the outlook. intel plunged after its new chip reduction process was delayed again. the company is under pressure as customers increasingly turn to rivals for chips. we are just getting pmi data out of australia crossing the bloomberg. the pmi actually rising to a record high in july. this is a preliminary number for services coming in at 58.5. manufacturing pmi also higher, 53.4 from 51.2. composite at 57.9. a big jump from the 52.7 in the previous reading. that returnecting to some semblance of normality as part of australia exit the stricter lockdown. going forward will be key given we are seeing a fresh six-week lockdown from victoria. let's take a look at how

haslinda: green pretty much across the board in asia. asia tracking gains in the u.s., sentiment lifted by tech and the progress in a virus vaccine. taking a look at where we are in terms of the benchmark in the asia index, up almost 1%. u.s. futures higher than 1%. futures in the u.s. pointing to a flat open, 3247. s&p has turned positive for the year. nasdaq at a record after amazon and zoom surge. eye on d.c., -- an lawmakers hammering a rescue package. the dollar index continues to weaken. down for the past four weeks, as stocks edge higher. gold futures a tad higher at 18.18. citi says look out. to chance gold could get 2000 an ounce in the next three to five months. take a look at where we are in terms of the north asian market. currently flat at 4679. hang seng up by 1.6%. the biggest increase since july 6 right now in virus cases in hong kong, which will be another blow to its economy. look at taipei go surging more than 2%. a 52 week high boosted by chipmakers. surging more than 5%. 6.987. yuan parity at -- marchre yuan at 2020

chief asia economics correspondent. a lot more on the way, including new zealand interested in limited the number of citizens returning home. details on that. this is bloomberg. ♪ rishaad: you are back with bloomberg markets as we have the latest business flash headlines. airasia posting a record quarterly loss of the three months until the end of march. coronavirus impact. the group ceo calling at the toughest challenges the airline launched in 2001. the group has cut cost by more than 50% since it boosts liquidity. more than one half over the next three years and encourages as many as 80,000 staff to work from home. the company is one of japan's biggest employers and describes the work as a shift to the new normal. month stipend to help set up and maintain workspace at home. factory workers are unaffected by this. limitda: new zealand will the number of citizens flying home to reduce pressure on its overflowing quarantine. the move comes as kiwi's flock to go home after the south pacific nation eliminated covid-19.

♪ >> good morning, we are counting down to asia's major market open. >> welcome to "daybreak: asia." market open a new week with investors trying to put viruses fears to one side to focus on earnings. highestuities at their is the pandemic struck. level infections continue to grow with the u.s. recorded some of its highest numbers so far. florida sees its biggest one-day rise, some of hollywood's biggest names test positive. and china'sotest crackdown in hong kong seem to have spurred a reaction at the ballot box, voters have turned out in the hundreds of thousands. let's look at how the week is setting up in asia. a pretty positive lead, asian stocks will keep the rally going. about half a percent after the u.s. stock rally extended that weekly gain on friday. the s&p 500 outperforming the nasdaq for the first time in two weeks. that bifurcation will continue. nikkei futures up 0.3%. trading in chicago after a three -- i third straight weekly decline, continued concerns about another wave of virus cases in tokyo and elsewhere in japan. 1%ney futures setting up for -- 1.6% higher. ne

karina: you are watching "daybreak asia." senate republicans have presented their plan to bolster the pandemic ravaged u.s. economy. the bill would trim unemployment to most americans and she'll businesses, schools, and other organizations from lawsuits arising from covid-19. it is the first step towards negotiating a compromise with the democrats, who offer their own $3.5 trillion solution. president trump national security advisor has tested positive for covid-19. the white house says there is no risk to president trump or vice president pence. he believes he caught the virus from a family member. he has been isolating at home while still running the national security council, doing most of his work by phone. the international monetary fund approved 4.3 billion dollars in funding for south africa, the largest payment yet of any country to fight the virus. the money will be used to battle the spread of the disease and help the recovery efforts that follow. south africa has almost .5 million confirmed cases, making it the wor

counting down to asia's major market open. asia."ome to "daybreak the fed signals more stimulus. jerome powell warns of the worst economic downturn in our lifetime and urges congress to merv -- fiscal spending. floridaalifornia, and all report record numbers of daily deaths. we are getting set for samsung results. we will find out how the pandemic has hit south korea smartphone makers later in the show. a look at how we are shaping up this thursday session. we will start with u.s. futures. all eyes really looking at the fed, looking at jay powell. he said this is particularly the biggest economic shock in memory for the u.s.. prospects for further monetary stimulus, just incremental progress when it comes to negotiations, more fiscal stimulus, i should say. chicago nikkei futures looking unchanged. it is a massive earnings day in japan, expecting results from hitachi, panasonic, as well as waiting on japanese retail sales. retail sales coming out of hong kong later on. that is expected to be another grim picture. the yen, wonderful 97 is where we are. steady below that one of fiv

you are watching daybreak asia. this is bloomberg. ♪ shery: let's get a quick check of the latest business flash headlines. a wuhan based -- under investigation for using take gold bars to secure loans. local media was raising questions whether they pledged 83 tons of gold mainly copper allied. the issue came up with the gold was assessed after an interest payment was missed. they said the bank accounts have been frozen. the affordable digital market. global is looking to take 8% of geo to tap into the company's 400 million users. siliconould join other valley giants who have bought into jio as it becomes second only to china. asia's richest man is now seeking investors for his retail arm. he told shareholders reliance retail may attract -- the company operates 12,000 stores in 7000 towns across india, 300,000 investors walked into the virtual meeting from 41 countries. haidi: president trump has said hong kong special status is a thing of the past. recent moves have pushed the city to the front lines of an intens

asia is much bigger than china. in order to protect their interest and put us on a road where hopefully one point in time beijing will understand that the course is chosen may in the short run be successful but in the long run alienate, isolate and impoverish it. >> i can't think of a better way to end the question and answer period but i'm gonna ask you to maybe make closing remarks after nadia. i want to sum up some of the questions. i think that nick and chris and shelley were all asking about what are the weaknesses. is the aggressiveness of the party swinging back against them? i think, nadia, the point you made frequently is that competing with china doesn't foreclose the operation. >> the rest of the questions from nick and about in the questions from others about what about allies in the region are they doing their part? misha, your chapter on u.s. japan and china together is a wonderful chapter. i highly recommend that chapter 2 peter and clients and joshua and michael and jack asking about alliances. and a

read on the screen in asia on a headline level as well. so we are not seeing a broader market reaction to that outperformance in tech earnings. nasdaq futures remain in the green. coming off the high of 0.5%, more focused on the economic picture in the u.s. and europe, we get more data. we have contraction data for the second quarter for frank's just a little earlier this hour. that is it for bloomberg daybreak europe. plenty more earnings to come. i will speak to the cfo of natwest group. ♪ >> good morning. welcome to bloomberg markets. mattin london alongside miller and berlin. last trading day of the month. last day of the month. >> happy friday. the endets say, is that of the good news? as european nations start reporting gdp slumps, the markets look for any

we are counting down to asia's major market opens. shery: welcome to "daybreak asia ." to slidekets look set amid fresh u.s.-china tensions and worries about the virus. futures going to declines in tokyo and sydney although hong kong contracts go higher. day traders pile in. it was a rare losing day grace dock that surged more than 15% in the last 10 days. the u.s. and china trade new barbs. washington rejects china's claim to the south china sea. top u.s. senators are facing mainland sanctions. haidi: u.s.-china sentiments dominating again with the grim overlay of rolling back restrictions around the world. this is how we are shaping up when it comes to u.s. futures contracts, up by .2% after what was a truly volatile session. we had the s&p 500 touching levels pre-pandemic and we also have the nasdaq hitting a fresh record before finishing in the red and we spoke about tesla being a huge part of that tech eventual close lower. nikkei futures up by .2 percent. sydney futures escalating in the red, point 8% lower, looking like a set up of .5% lower, this as we are expec

as we in thailand it is common in southeast asia are not common here and there isa asia are not common here and there is a bit ofa asia are not common here and there is a bit of a kind of why the hell should i grumpiness from some bits i think but i think it is a politeness thing, it is a courtesy thing to your fellow to passenger, and i would like to see 100% on your tube shortly, not 60%. iwilljust would like to see 100% on your tube shortly, not 60%. i willjust say to you both i normally come from south asia and i am based in delhi where because of the pollution people wear masks anyway so it isn't and you get used strange way. —— normally cover south asia. another survey which has been making headlines... jessica, just explain a little bit about the story to those who aren't quite a classic. yes, this is extraordinarily yet another kind and escalation in tensions between the us and china. the us basically accused biss of being an espionage hub and in fact they even give the detail of smoke rising from the building which they claim to be staff burning documents in there, and, yo

between 2001-09 he held key positions at dealing with south asia, central asia and china at the department of state. eugene currently director of carnegie's russia eurasia program is the former national intelligence officer for russia eurasia. susan thorton is currently senior fellow at yale law school and former assistant secretary for east asia and pacific department of a state. all three have had deep experiences, practitioners and thought leaders in their field and i think they have a unique capacity to encroach russia, china and u.s. policy with just the right balance with altitude on one hand and granular on the other. they will speak for no more than five minutes and we will do a moderated round of conversation and then answer your questions. we will have a live q&a "after words" to ask a question, use the live chat feature in youtu youtube, e-mail us at press office at cie p .org or tweet us at carnegie and dowell using # carnegie connects. with that, evan, the virtual space is over to you. >> thank you. pleasure to be with you. ... february 1972 visit to beijing. that was a point

including asia that may not fit the jeffersonian democracy ideal. obviously we don't either at this point. but, when you sharper democratic base, get democracies working together that creates a foundation to bring in others on different issues. when it comes to asia in particular, i think we did the rebalance under the obama biden administration. it was an effective vehicle think for redirecting our time, our energy, and our resources to a part of the world arguably matters more than any other to our future. that entails working with countries that certainly were not fully democratic under the measures you and i would consider. we obviously need to pursue tha that. and hopefully, our model becomes once again attractive and effective at dealing with problems and helping people with their own lives, then there's incentives for countries to democratize themselves. >> let's jump from asia to the middle east. here, i would start by asking there's some discussion the middle east does not matter as much to the united states as it did when we were in import

southeast asia is once again flat. the nifty could be having a good session to wrap up your friday in mumbai. u.s. futures above 0.3%. after we heard from some state newspapers calling the recent decline just a normal adjustment when it comes to the selloff in chinese stocks. we are also looking at currencies. the dollar, which we have seen gained overnight, still on track for a third week of losses for your bloomberg dollar index. we are seeing weakness in the rupiah after the cut yesterday. 2.95 four your china 10-year. focusing on tsmc. they boosted sales and forecasts for the year despite not taking any new orders from huawei since may. chairs up to 15% or more. acer also up 8% in taiwan as well. tech stocks having a good day in taipei today. we are seeing a reversal after -- u.s. customs placed a detention order on gloves made by two of its top units. top glove will not hurt their total imports for the company. we are seeing a big move there. everbright securities down. goldman cutting that stock to a cell now. th

the msci asia-pacific up 1%. risk on across the region. the shanghai composite brushing off concerns about virus outbreaks in the northeast and west of the country. up seven tens of 1%. since the biggest drop since march in the mainland. about renewederns restrictions in one city, but investors are brushing that off. as well, up firmly part of the semiconductor story, looking forward to samsung earnings. looking at currency, the dollar story almost the weakest in terms of the bloomer dollar index, for close to two years -- bloomberg dollar index, for close to two years. down for tense of 1%. hasonshore yuan strengthened. the aussie dollar up as well. on the next board, looking at gold, futures breaking through $2000 announce. you have the likes of bank of america predicting you could get $3000 in therice next 18 months. wti up 3/10 of 1%. the 10 year yield has edged up marginally at 62 basis points. you can see there has been a marginal rotation out of chinese 10 year as well, more risk on sentiment in the mainland. rishaad: all right, let

it's a risk-on day in asia. markets going strong this monday with most benchmarks up by more than 1%. the nikkei is higher by 1.4%. the hang seng is higher by 2.7%. territory,ll market up by 20% from its march lows. ina'se watching smic, ch top homegrown chipmaker, seeking to raise at least $6.5 billion in shanghai in that ipo, which could help it compete against its global counterparts. exe asked asked -- asx 200 ind is higher. a feel-good monday today. now, let's get the "first word" headlines. the european central bank is warning the euro zone faces about two years of downward pressure on prices, but could see a turnaround after that as the covid-19 crisis transforms the economy. the ecb president, christine lagarde, says she expects the period of disinflation to begin inflation andd by the possibility of higher rates. >> [speaking french] translator: disinflation to begin with, then inflation we have to anticipate and measure, but it will be most likely based on an increase -- natural increase in interest ra

in southeast asia. if i thing about southeast asia, there is singapore and -- think about southeast asia, there is singapore in southeast asia. seere hopeful that we will enterprise focused unicorns emerge out of the region. either they come from singapore, serving large enterprises with global markets, whether the west is staying in the east. across southeast asia, we think the context is unique enough that the macros are compelling enough to create unique models. where you capture the most value is not necessarily being a copycat but something that has or inreated in the west india or in china, it is finding the new thing. we are seeing interesting technology companies emerge out of southeast asia. some examples we have is helping agriculture farmers increase their yield. seeing these marketplaces. we are seeing companies serve global customers on construction site management. that is what we are excited about. we are really excited about enterprise coming out of southeast asia. serving the regional m

we are counting down to asia's major market open. shery: welcome to "daybreak asia ." asian stocks look set for a decline this week after a mixed session on wall street. investors await clarity on virus stimulus programs. global infections approach 15 million with death topping 610,000. president

an associate professor at the australian national university and author of banking on the future of asia and the pacific a very warm welcome to both of you to the program dan a lot of nervous eyes on the yangtze river basin how serious is the situation there . because there's a lack of visual data in describing the actual economic loss we did some rough back of the envelope calculation and it looks like although i'm surface it is very devastating for us to see all those dislocation of people and the damage to houses comparing to the 1908 flood this time is only about 15 percent of the economic loss and about 110th the direct damage to housing so now we have the economic g.d.p. growth for 2020 to be about 1.4 percent with this flood it's about a we would only adjust our g.d.p. forecasts by 0.05 percentage points so the economic loss is actually marginal compared to 20 years ago ok so that slightly encouraging as you said is only the economy side of things but the national emergency level is still only at its 2nd highest isn't it does beijing expect it to get worse because there's still a

welcome to "bloomberg markets: asia." rishaad: asian shares trading mixed as investors wait for the fomc. the pandemic stalls the american economy. haslinda: we look at hong kong's economic recovery, why it could take longer amid resurgent covid-19 cases and deteriorating u.s.-china ties. rishaad: malaysia's current government looks to be in a stronger position after the former prime minister was found guilty on several charges of corruption. haslinda: asian markets are looking mixed ahead of that fed policy statement, which is expected to be dovish. investors say it will be very difficult for the market to make a lot of progress in this environment after that big rally that we saw. the msci asia pac index down. industrials, tech, consumer plays leading. index 2% away from wiping out losses for the year. investors brushing off concerns that china's economic recovery lost some momentum in july. the hang seng also in positive territory, higher by 0.2% come up for a second day. hsbc among gainers. hong kong traders love chin

we are counting down to asia's major market open. shery: welcome to "daybreak asia ." asian stocks look set for a decline this week after a mixed session on wall street. investors await clarity on virus stimulus programs. global infections approach 15 million with death topping 610,000. president trump does a u-turn and now says wearing a mask is patriotic. vaccine is on to find a amid warnings of a greater resurgence to come. haidi: pretty mixed midweek outlook when it comes to trading here in asia and for the first time in a while, we have seen equity markets kind of take a step back in terms of not -- headlines. a great deal of activities and commodities. let's take a check of futures. contracts trading higher after we saw a lack of conviction in u.s. markets as we get concerns that perhaps this fourth round of fiscal stimulus will not be forthcoming. we are hearing the republicans are in the midst of crafting their own proposal to take to the democrats and we also heard from president trump as he resumed his virus presser, encouraging americans to wear patrioticart

we are counting down to asia's major market opens. shery: welcome to "daybreak asia ." growing concern about a resurgent coronavirus and the implications of a recovery puts pressure on rocks. old is above $1800. oil slips on weak demand. infections continue to rise with local members

coronavirus cases are searching gingsia with -- sur in asia. hong kong had more than 100 new cases on sunday with masks now obligatory in all public areas. infections continue to rise in india after the total to pass one million last week with overall deaths approaching 27,000. they have more than half of total cases. virus cases are again rising in melbourne, prompting a mandatory order to where face masks in the city and surrounding areas. more than 360 new infections were recorded on sunday with two 90'snd a woman in their succumbing to the virus. victorian officials ordering 3 million masks to be delivered in the coming days. ae e.u. remains split on virus rescue package with the netherlands and others under pressure to get in line. we are told nations are arguing over the method of dispersing about $800 billion worth of aid with grants or loans at the center of discussions. the netherlands is being accused of holding -- ransom over the precise wording of the plan. the u.k. may further inflame tensions with china by suspending its extraditi

yes, let's take a look at asia, a pretty muted start to the asia week. onhave what you mentioned friday over concerns we may see the global economic recovery faltering somewhat. this is what we are looking at when it comes to trading here in asia, a pretty mixed picture. at this point, future showing just a bit of upside. 1% when itke 2/10 of comes to the aussie futures at the moment, or a downside, i should say. and we have the japan jobless rate and inflation gauges out of australia to look forward to, but it is really the focus when it comes to the earnings and big with oil financial names reporting this week. now,: and our top story still all about the coronavirus. endemic cases globally passing the 16 million mark over the weekend. you are signs the virus is slowing in the u.s., but a second wave in spain is fueling concern in europe, and our colleague, yvonne man, has more. we are seeing some relief in the hot spots here. there is an increase of 1.6 percent, about 56,000 or so, still below the average of the last several days. the deaths have falle

welcome to "daybreak asia." amazon, apple, alphabet, and facebook light up and already alreadyng --an blistering rally. a much dimmer picture on main street. u.s. gdp contracts by almost 33%. jobless claims rise for a second week with 17 million filing for benefits. international condemnation of hong kong's decision to bar a dozen pro-democracy candidates from upcoming elections as china's new security law -- breaking news out of south korea. we are getting june industrial production numbers and they are a strong beat for the month on month numbers for june, a growth of 7.2%. the estimate was for growth of around 2%. it is also coming after the previous number was revised downward, so it's a bigger beat than expected. the year on year number still in contraction but only up .5 percent. the expectation was for a plunge of 5%. the previous number was revised downward. we have seen a little bit more optimism. manufacturers confidence in south korea rising. we have seen export declines starting to ease. chinese dema