this is "daybreak: asia." yvonne: the singapore airshow kicks off this week, the leadership summit is bringing together high-level participants from regulators, the government and airline operators to address a wide range of topics. is there in the lion's den. >> i am with qantas ceo alan joyce, his first interview of the day, and we know qantas is moving into these long-haul plans. they will start a long-haul flight to london next month and they are planning on bringing singapore back in. thank you for joining us. you are pushing into the long-haul aspect, perth to london. we bring in new passengers? easiest will, it's the -- the most convenient way to travel. we know people want direct service. startedl be on the new -- the new state-of-the-art aircraft. we put less seats on the aircraft than our competitors. it is only a few weeks away and the initial forward-looking's are extremely strong ahead of where we expected to be. we are very confident the traveling public really do like his new direct services. ju

this is "bloomberg markets: asia." ♪ asia pacific market extending the biggest global selloff in two years in growing concern that the fed may step of the pace of their rate hike. powell will be sworn in and janet yellen says she is sad to leave. seoul.will be live in the bond route continues. the contagion when it comes to equities playing out in the asian session. we had that 600 point drop to the dow. asianf extended in the session. a huge week when it comes to the data. four central-bank meetings. you have australia, central-bank in the philippines and looking at the reserve bank of india. very interesting to get any policy reaction to that fiscal situation of the tell by the latest budget. in the meantime, looking at treasury yields and the features looking at more downside and this is playing out in a negative way in asia. 30 minutes out from the oven in china and hong kong. hang seng looked at the barometer when it comes to the bearish sentiment in this world --as part of the world. david, we're watching everything. there are a lot of trades play ing out. david: it is getting

and while asia is still the world. and while asia is still the biggest importer of of those weapons, countries like china and south korea are starting to export as well. and australia just announced they want to boost export as well. are you worried that they could potentially pose a threat to your business? not really because we are more local. we have seven or eight singaporeans working here and we benefit from a highly talented base here in the region. we recruit the best engineers to develop a local solution for the market and for regional economies and markets. at this hour show we are seeing many of the latest technologies. are you worried about cyber security? yes and no. it is a direct consequence of digitalisation. we inject more and more artificial intelligence into our wine markets and as a consequence you need to deal more and more with cyber security. thank you so much forjoining us. that is all from us here at the singapore airshow. join us later. she will be joining us all week from the singapore airshow

stock markets in asia poised for their biggest jump since stock markets in asia poised for their biggestjump since the end of 2016. traders remain an edge after a rollercoaster ride over the last 2a hours. taking to the stand! the controversial former boss of uber, travis kalanick, is accused of orchestrating a plan to steal trade secrets from google. let's show you the numbers now. you can see how the dowjones ended the day on tuesday, a big turnaround for wall street and that has been followed through in asia at the moment. is it back to normal now for financial markets or is there more serious volatility to come. that is what many all right being after a crazy start to the week for financial markets all over the world. the global rout began on monday with heavy losses on wall street. that came through to asia on tuesday. let's have a look at how things are going in the middle of the week. japan is a buy at and similar in hong kong following a recovery in the united states on tuesday. however, it began in and —— a volatile way on tuesday with the dow dropping by another 500 points at t

welcome to day break asia. this wednesday, asia specific stocks are expected to all after snapping a six day winning streak. u.s. equities were dragged down disappointing results from wal-mart. >> that's crazy. in the meantime, bloomberg's it's just quarters, past 6:00 p.m. on a tuesday. the dollar rose as the treasury securities to rebuild its cash balance. rates not seen since 2008. and the russia inquiry nets another catch. a london-based lawyer admits to misleading the investigation. we're live in washington. >> yvonne, good morning and good morning to all our viewers across asia pacific. markets.ng a look at last night, i was writing to myself, we made 6-6 in terms of u.s. markets. to it seven? hop on the board because we didn't. s&p down sixths of one percent. that w down 1%, we saw huge u.s. treasury yield, a lot of folks going into that. billion there. hop into the bloomberg terminal. want to show you what's happening in terms of yields. we can see that these lines two-year te for the treasury yield, bl

in asia? manpreet: a lot in asia. , but moreian equities reflationary markets in asia. south korea and china. arehe bond market side, we more cautious. it makes sense to take advantage of local currency markets, with the dollar markets, we are more cautious. yes, a lot of opportunities in em and there is more room for these to go. haslinda: who would have thought emerging markets would withstand the pressure from the global route? manpreet gill, thank you for your insights. let's check the latest business flash headlines. young china slumped in trade after announcing a charge taxted to the republican cuts, shares fell almost 4.5% despite fourth-quarter earnings per share that the estimates. revenue came in at $2.2 billion percent.parable sales rose 7%. david: rio tinto is promising a full-year dividend of five to $.2 billion, plus a billion dollars buyback. earnings, almost 70%, 8.6 billion dollars thanks higher commodity prices. the ceo said the company is now watching for opportunities and running his new ventures unit shares in sydney just 1%. haslinda: southeast asi

in the days of the czars it was the gateway to asia. at the entrance to the town lorries and trains cross the ural the river that marks the geographical border between the asian and european continents. instead of just historically speaking the ural has always formed a natural border just this is just the big brother just look at that as yes in the post caravans coming from asia are always paused here if the couple of the river was a barrier in the book but i need sleep schedule. today the chinese efforts once again seem to come to a halt at this symbolic border. from here the project of the new silk road depends on moscow's goodwill but does putin's russia even want it. watered down but i'm skeptical about the relationship between china and russia what's your russia is facing a laborious rethinking process a solution that. russia used to be china's big brother today it struggles to accept that china is superior and she's also mentally we're told of course china and russia are cooperating on military terrain is for geopolitical reasons

welcome to "bloomberg markets: asia." day of heavy losses amid rising concern that inflation will force interest rates higher. u.s. stocks funds the most in six years. the dow losing 1100 points. that's more than $1 trillion wiped away. >> from bloomberg's global headquarters, i am kathleen hays in new york. the route hits the robot. digital investment advisors could not handle the selloff and simply crashed. bitcoin is the loser once again, struggling to prove its credentials as a haven assets. asset.ven yvonne: what a day. on friday after the jobs report, inflation accelerating. we saw a selloff. wow, that was practice for the big selloff today. court stock features have stabilized higher, and u.s. trades are holding onto a lot of stocksns they scored as sold off. a lot of people think it is too early to say this is it. our guest will us he thinks it is the beginning of a substantial bear market. yeah, he mentioned how historic yesterday was. 15 minute acceleration where we lost nearly 1600 points. has not seen and ente

welcome to "daybreak asia." a mix today in the asia-pacific. game,na returns to the overnight, wall street fell on speculation. the catalyst was the fed minutes. policymakers are increasingly confident about the u.s. economy. betty: i am betty liu in new york, it is after 7:00 wednesday. oil sliding a second day in new york. concerned this could derail opec production cuts. the asian pacific's enjoys a golden year for aviation. we will hear more views from qantas boss, alan joyce. ♪ yvonne: we have been honing in on the fed minutes. i turn in the markets for the close of wall street. asia so far bucking the trend, powering through inflation risk at the moment. china will be the big game changer. g #btv 8423. this coming at a time when the global equities in general, this rebound seeming fragile now. this up spike in yields will be the catalyst of that. now we see that tenure at 2.95%, that will be giving -- the 10 2.95%, that will be giving jitters. betty: as you have mentioned, asia bucking the trend. this connection among global markets bet

welcome to "daybreak asia." several asia-pacific markets closed for lunar new year. but those that are open are tracking overnight gains on wall street. u.s. inflation data supports the fed plan for only gradual hikes. the dollar, falling. ramy: from bloomberg's global headquarters i am ramy inocencio in new york. it is just past 7:00 p.m. wednesday. problems pile up for the bank of japan. the strengthening yuan is making it hard to hit that 2% target. macau, the year of the dog. casinos and hotels expecting record numbers. ♪ yvonne: that strengthening yen not just dampening inflation, but also when it comes to japan and their risk appetite when it comes to spending more. we some machine orders for the month of december dropping like a rock. close to 12% lower that month. we have seen a change in terms of how investors are viewing this yen a strength. -- yen strength. since november we have been looking at this negative correlation between the topix and nikkei 225 against the yen. as the yen was rising in blue, so were equities. we saw a rotation, a switch back to

i am exciting addition of asia business report. iam rico exciting addition of asia business report. i am rico hizon. exciting addition of asia business report. iam rico hizon. we exciting addition of asia business report. i am rico hizon. we start off with the us central bank, and jerome powell, you see on your screens, jerome powell, you see on your screens, is said to be sworn in as the new chair of the federal reserve , the new chair of the federal reserve, replacing janet yellen. by nominating him, donald trump river wey from tradition, as most us presidents have chosen to appoint the same chair in their first year of power. the bbc has more from new york. donald trump's pick for the job, jerome powell, is the new chair of the us federal reserve. but why is is such an importantjob, and why should it matter to you and i? welcome at the federal reserve makes decisions that into a great scholar keystone employment and inflation in check, and can step in and protect the economy, like it did to the globalfinancial the economy, like it did to the global financial crisis. the economy,

it is having more and more power in southeast asia and broader asia—pacific, so we just continue seeing that going. the positive side would be different be more consistency and things like economic policymaking, foreign policymaking. in a way, you have more certainty in those areas, but it would be quite significant if you see him in power for another ten years. one of the longest leaders in asia is cambodia's hun sen. he was just in another ten years after 33 years. are we seeing another trend of a long term autocratic power in asia? in cambodia, they cannot be a bellwether. he is been there a long time and he has no intention to leave. we are seeing a rise in autocratic power. it's interesting that we see that this and getting a lot of headline news is actually those governments attitude to cyberspace. a lot of places like thailand, vietnam are taking the page from china to set up several security laws to allow the incumbent leader to have advantages. they can control and monitor data in ways they haven't before. that is something that is going to be, we think, quite fundamental as it

>> this is bloomberg markets asia. japan catches up and there is a rebound that says that the global markets are stabilizing. falls afterty index the drop, but traders are nervous. made the and offload of assets in the united states. we are 30 minutes away from the open in china and hong kong and we are seeing this rally with stocks after the foundation day and trade comes back with more optimism overnight and you see the major u.s. markets back into the positive territory after the selloff we had and we talk about , buturn to volatility there is still a worry about a true recovery. this could just be a short-term bounce before another low. you have to imagine, based off of that magnitude in the move. >> you were talking about that and what came to mind is al sunday, they given six inches in front of your face and the numbers will shift to markets, depending on what it is and we saw this and we are coming off of highs with 3/10 of 1% and nobody has really jump and we have the asian we are seeing but it is not gangbuste

asia gdp. data out of loans china as well. and singaporea central-bank dominating headlines. s&ps look at australia, the when it comes to sydney trading, we actually saw a little bit of a bucking of the rule. the sydney market putting on 1.2% by the end of last week against a drop for the msci asia-pacific, the biggest occurrence of 2016. under 80llar falling u.s. cents. we are expecting it to hold. it will be the 18th straight meeting at holds. more broadly, look at the rest of the markets. the bloomberg dollar index extending the gains. the best week in 2018 so far for the u.s. dollar after relentless weakness. atrling trailing -- trading 1.41. seemingly destined to test the strategistsot of saying it is the start of a true bear market when it comes to bonds. just a reminder of the close, the s&p 500 down by just over 2%. a bit more on what we should be washing is trading gets underway in asia, let's go to adam haigh. the route in bonds and equities, we have seen it play out in asia, will it

this is bloomberg markets: asia. joins theg kong recovery in the asia-pacific. the hang seng with its biggest rise in 20 months. automakers leaving japan higher. that selloff has gone too far. says the launch was a success. he said it would be a success as long as it did not explode. very much a success by that barometer. -- u.s. stockst managed to claw back. we are seeing that trickle through to the asian session. asia, closeies in sold point. so much of the fellow story has been about volatility. takingt threat has been -- now that that threat has been taken out, emerging markets are a lot less volatile than their developed counterpart. to gauge when it comes emerging-market equities is about 25 as compared to 30. that difference was the biggest since the index was created in 2011. it does feel like this is the new normal, less volatility and more reliability in emerging markets. over to sophie with a look at how this recovery is faring so far. stocksre seeing asian recovering, halting a three-day decline. asian currencies are being led higher than the dollar

also in asia, the biggest airshow in asia has opened the biennial event brings together the biggest names in the commercial aviation and defence industries. our business reporter, mariko oi, is there for us. it is nice to see you. tell tell us more. as you said, this is the biggest airshow in the region. over 1000 competitors are here to participate. we are notjust talking about commercial airlines and defence, but also privatejets about commercial airlines and defence, but also private jets as well. in the commercial passenger airline sector, we have seen unprecedented growth. the reason is simple, more people in asia can now afford to fly. instead of catching a bus ortrain, afford to fly. instead of catching a bus or train, they are flying. as a result, we have seen so many carriers almost starting to threaten legacy carriers like singapore airlines and cathay pacific. in the defence sector, they are beefing up defence sector, they are beefing up defence spending thanks to bolstered economies and disputes in the south china sea and threats from north korea. we will be here all week and

in asia, xerox is owned by fujifilm. this joint—ventu re asia, xerox is owned by fujifilm. this joint—venture makes asia, xerox is owned by fujifilm. this joint—ventu re makes about asia, xerox is owned by fujifilm. this joint—venture makes about $10 billion in annual sales. investors in america, most notably with —— most notably this man. as advised to be terminated altogether. analysts are questioning the deal. xerox is to bea are questioning the deal. xerox is to be a very iconic name in the business world. times have changed. the invention of email as well as portable printers have dealt it a ha rd portable printers have dealt it a hard bloke. this is a trend we are seeing globally. people are questioning the merits of this merger. i still need my papers, don't phase out the photocopiers. thank you so much for the update. leisha santorelli. thank you so much for the update. leisha sa ntorelli. the thank you so much for the update. leisha santorelli. the asian stock markets are all in positive territory. wall street stocks finished modestly higher. 0ffbeat econ

i expect across the trading day here in asia you will see similar falls. day here in asia you will see similarfalls. everytime we have day here in asia you will see similar falls. everytime we have a big story like this from the united states, where the market falls they are, not to underplay the significance of this, you do see a corresponding fall here in asia. that is explained by the fact that what happens in the us economy and the us stock market is the key indicator for a lot of asian investors as well. don't forget that over the last ten years, during the era of cheap money when the us interest rates were at record lows backin interest rates were at record lows back in the us, many of those foreign funds came into foreign —— asian markets and bought emergent market stocks which help this evaluation he'd grow. there is a lot of nervousness around that but it must be said that we have not seen strong economic fundamentals like this in the us and in asia for the better pa rt this in the us and in asia for the better part of the last ten years. we have wages rising marginally in

♪ >> this is "bloomberg markets: asia." ♪ asia-pacific markets extending gains and investors await his first testimony. his choice of language is crucial. critics slam a new word order -- world order. a policy decision out of the bank of korea staying on hold as expected. surveyed that we stated that the bank of korea would stay on hold at 1.5%. who succeedsas to the governor as this was his last decision as the governor of the bank of korea. there has not been a lot of consensus over who replaces him or if he gets reappointed. take a look at this chart. this is the conundrum they are facing. we had the rate rise in november. export growth is also coming in a little bit weaker in terms of that last read that we had. debt is oneath -- of the conundrums that bank of korea is facing. banks, aany central fine balancing act. it is largely down to the fed. take a look at the market reaction. let's go over to sophie. sophie: you have text talks -- global stocks are rallying. stocks in tokyo are rising. have all of these stocks rising for a fifth straight day. morgan stanley cannot a report sa

head of trading asia pacific. earlier, i put that question to the head of trading asia pacificm earlier, i put that question to the head of trading asia pacific. it is a difficult market, there are a lot of sophisticated algorithms move in this market around right now. sometimes, it is better to take caution and keep your cash ready, ta ke caution and keep your cash ready, take some ships off the table. ultimately, i think this market is coming back. ithink ultimately, i think this market is coming back. i think this is going to bea coming back. i think this is going to be a short surge low and i think we could have a rebound, are quite significant rebound over the next few weeks. it is very difficult to tell right now but economics, the economic indicators are all proving very positive. the economies are all doing well, that could pretend that equity markets remain strong. 0ver the long run, the equity market should remain solid. 50 the long run, the equity market should remain solid. so we should investors put t

look at the big markets across each asia -- east asia and australia. you could have together right now and you are actually looking at more than a three sigma move down on the benchmarks. in other words, you don't see this happen quite often. this happens less than 1% of the time when you go back statistically the five years or so. a very quick check across south markets. this is the latest market to open up, the philippines. the next one to open up, indonesia. plus, vietnam. that crashed 5%. dr. surprised if that specific market entered a technical correction as well today. check of your markets, let's get it over to singapore. the aircraft business has been booming in recent years, fueled by the insurgent travel demand. but get back to the singapore airshow. haslinda is standing by. will chinese players affect what we are seeing from their rivals? haslinda: according to the air cap, no. not anytime soon. why are you confident that the chinese will not squeeze you? we are the biggest owners of commercial aircraft in the world. also, the biggest commer

we are live from bloomberg's asia headquarters. welcome to "bloomberg markets: asia." market set to slide as the euro fails and the yen retreats. traders look to key events, including rba minutes and janet yellen's last meeting at the fed. ramy: from bloomberg's global headquarters, i am ramy inocencio in new york. bhp to report its biggest first-half profit in three years , also under renewed pressure from an activist investor. offersresident trump support for limited gunshots in the wake of the florida school massacre. ♪ ramy: good morning to you and to all watching around the world. markets, close because of the president's day holiday. not much moving except the dixie . it has been moving slightly to the upside. lot of investors have been expecting this to fall farther down. the last time it hit that mark was three years ago. to ask be looking ahead some forex analysts what they expect in terms of that trend looking ahead. the interester rate differentials matter when it comes to the dollar. really thin volumes. liquidity in shortage given u.s. markets are closed

occam to "daybreak asia -- welcome to "daybreak asia." the 10 year treasury yield fell for a third straight day. volume was lower than usual on wall street as investors look ahead to jay powell's first testimony as head of the fed. betty: from bloomberg's global headquarters, i am betty knew in new york, where it is after 7:00 p.m. on monday. xi jinping tightens his grip on china. critics slam the new world order. no sacred cow. hong kong will leave no stone unturned as it tries to resolve its chronic shortage of housing. yvonne: stocks bounced back and we saw bond stabilize before jay powell's testimony, which we are shrugging off for now. take a look at my chart, g #btv 599. have we seen the worst of these spike up in yields? if you look at technical, it may suggest yes. this is the moving average conversion/divergence index. buy.is flashing a are saying the worst may be over. whatever we hear from jay powell may not move the needle to much. he may not say a whole lot before the march meeting. they may not move the yields at all, right?

asia." to "daybreak asia-pacific stocks are set to rally into a third week after a strong close on wall street and treasury yields dip. repealed term limit for allowing the president to rule indefinitely. his grip on power arose even stronger. betty: i am in new york where it is just after 6:00 p.m. on this sunday. north korea uses the winter talks.s to hint at fresh the white house says we will see. workshop hathaway, warren buffett said he needs a quiet 2017. ♪ betty: it has been everything but quiet in the equity markets these days. out, but it to close want to point to you a chart. g #btv 9668, which is what we have seen for huge amounts of price swings in the equity market. if anybody doubted whether or not volatility was here to stay, just look at this chart here it it shows you the difference between the highs and lows on average on the s&p fearing -- s&p. right, butett is 2018 is a totally different story. you just saw on the right-hand side with how big those differences are in th

♪ markets in asia pacific bracing. this hour, focus on china. reallylapse last week leading declines across the asia-pacific. the other thing we want to talk about in the show, ending last friday at the highest level. three times higher than the level back on january 26. i am here in hong kong. up,inda: also coming a once from japan say corroded to stay on at the boj. this is "bloomberg markets: asia ." ♪ david: a very good morning to all of our viewers joining us right now. new trading week. lots to talk about in the markets. shins and up and running as well. focus will be on where we go with those markets. no one knows until we get there. let's get a lay of the land of how things look. where does this really set us up as we get underway this monday? have a look at it -- at our bloomberg chart. g #btv 7910. into thursday, into friday, that little gap, more than a massive gap. really push the market to extreme levels when you look at markets. 56% of constituents on the shanghai composite are now in oversold territory. does that necessarily mea

with me is our asia business correspondent, karishma vaswani. were now in the second hour of trade, how are the nikkei and all the asian index is faring? as you would expect, asian markets taking their cue from what you saw in us markets overnight. losses being recovered today with the nikkei in japan up about 2%.1 recovered today with the nikkei in japan up about 2%. i think that the volatility that you see in the united states is also being seen out here in asia simply because of the fa ct here in asia simply because of the fact that as the expectation the us interest rates, for them to go higher, at a steady pace, we were talking about this yesterday, that markets in asia will also be affected simply because they are considered riskier assets than perhaps a bond or us equities, where investors might be putting their money back into. now, things are looking more, but it is a trend, more volatility to come. there are fears about inflation and interest rates, on the backburnerfor the day. i think you have got to take a longer term perspective on

but it will be taken well by investors in asia. haidi: central bank stability reassurance very much needed at this point in the markets. speaking of, inflation is what started this route. we are getting inflation indicators this week. what are we looking for? europe's big one is inflation data, which comes out in the middle of the week. for the moment, the core cpi number is still expected to stay below the 2% threshold. ite that comes out and arrives as the economists are suggesting, that could be a relief for the treasury market. it has been totally beat up. mark cranford in singapore, just trading very carefully going into this trading week. you can follow all the insights from mark and his life seems from the trading action on our blog at bloomberg mliv go. run downet a market and commentary and analysis from our expert editors. you can find out what is affecting your investments at any given moment. let's get the views from the bank of tokyo. head of global markets research of their. great to have you. you just went and see wh

asia, where are we? route, looking at asia-pacific. there is your cascade lower. i'm guessing that is 1/10 of the way back up. you had japan close on monday, and heidi, you mentioned the last trading day before the year of the dog. haidi: very exciting. following that surprise prison sentence, and really surprising walk that we had jay y lee free. coming under pressure to put it mildly? yes.: we opened down 7% on logiccor. is latte corp.. your terminal. everything that matters about a certain asset. in this case it is lotte corp. there is your headline. a lot of stories on the company, but where does this take the company moving forward, following that surprise prison sentence on the company here? a lot of volume coming through on the stock here. average here. haidi: lots more to talk about, david. we will get back to you in a little while. but get first word news from has lent. missedomic growth estimates in the fourth quarter. oficials show an expansion .5 of 1%. that was half of the estimates. down from 2.2% in the first quarter. president trump has been challe

has developed and or overarching policy toward southeast asia and asia generally. they don't feel like they understand what this is they understand but where india japan and the u.s. will mean they don't understand what that means for them they fear that they think form policy is quite transactional and that many things can reverse quite quickly. we do not know their uncertain they appreciated some of the things that happened, the five exercises that happened in 2017 but they don't know more broadly where the u.s. is. they felt like it president trump tonight raises south china sea very much the general principle was approved freedom of advocate navigation general principles were navigated but he only mentioned china wants and that was in the right before he got on a plane and left in the vietnamese don't say it but last june or july they passed a spanish company i went up the southern coast of vietnam. this is after pressure from china the vietnamese really give you the impression that they don't feel anybody had their back. it was probably wise in the face of the

asia business correspondence. let's take a look at some of the day's other news. the south korean president, moonjae—in, says he hopes north korea's participation in the winter olympics will lead to a broader peace in the region. the north's decision to send a senior leader to the olympics has prompted speculation of possible talks on non—sporting issues at the games, which begin in pyeongchang on friday. my colleague stephen mcdonnell is in pyeongchang and told us about the excitement building ahead of the games. we are waiting to host the winter 0lympics we are waiting to host the winter olympics in the coming days in these mountains and already international political events are overshadowing the sport will stop there are three main players, you have north korea, south korea, and the us administration. moon jae—in‘s administration, they will be hoping there will be talk surrounding the games and you have the us vice president with his group of north korean defectors trying to pooh— pooh the whole thin

has really developed an overarching policy toward southeast asia. and asia generally. they don't feel they understand what the free and open indo pacific is. they understand the quad. but they -- where india, japan, australia, and the u.s. are going to meet, but they don't really understand what that means for them. they also fear that they've watched what's happening here. they feel foreign policy here is quite transactional and that many things can be reversed very quickly from a tweet at 3:22 in the morning. so, they really don't know -- the vietnamese, when you talk to them, they're uncertain exactly where trump is going. they appreciated some of the things that happened, the freedom of navigation, the five exercises that happened in 2017, but they don't know more broadly where the u.s. is on this. they felt that trump really didn't -- president trump really didn't raise the south china sea very much in his visit to asia when he visited five countries in november. the general principle was often of freedom of navigation, and those issues, general principles were re

in hong kong, live from bloomberg's asia headquarters. welcome to daybreak asia. saless iphone super cycle of the mid-quarter were below estimates, although the 10 did quite well. it really was amazon go after it line.he bottom alexa also beat expectations. betty: i'm in new york 7:00 p.m. this thursday. planning for the post-brexit li. split saying that the from europe should have no adverse effects. a chinese battery maker that plans to leave tesla in the slow lane. ♪ ♪ yvonne: we have been talking about this slew of tech earnings on tap. m,ems it was like the a tea they were calling it. split from europe should have no adverseapple, the iphone x concn seems to be alleviated for now. could be a good day fo suppliers. >> let's have a look at the open in south korea and japan. nikknes, especially on the ei 225. we have been talking about the big tech earnings overnight. then essentially coming out latter part of the day into the close. the weekly drop in eight weeks for equities in the asia-pacific. it was bound to happen at some point. watch what has been hap

at a rapid as there was a roman bathing culture in asia minor two thousand years ago the city had an estimated population of one hundred thousand. and him from the great bath house a sculpture founded. the theory is that a stone dislodged from the vaulting by an earthquake decapitated the figure excavations have been in progress for more than a century first by german and currently by italian archaeologists. only recently where the foundations of the south baffles cleared of limestone the counseling and carbonate borne by the waters had come to the walls to a height of five metres little by little the importance of harappan aspire roman bathing culture in the near east has become apparent hellenistic cultic site was transformed into a spot on known throughout asia minor numerous large pools remain to be excavated currently they're still buried under the limestone deposits at the springs indeed the excavations have barely begun. the glories of nature and of art went hand in hand out here. the theater is one of the best preserved in asia minor it was right in the heart of the ancient c

asia. is doing quite well, stocks are up. yields are on the way up as well. --sie 10 year yields closing in on the new zealand 10-year. the spread of the aussie over the u.s. has basically disappeared. yield.the u.s. 10 year a rally across commodity prices. we do have a few markets that haidi was pointing out on top of that. vietnam, hong kong, shortened trading session. open in about 30 minutes, lunchtime, that's it for us for the day. china shut for the next few days. korea has been shut as well. quickly, the story of the day. dollar index. this was a chart sent to us by tom schroeder. he was on the show about two and half weeks back. he told us to watch the 8850 level on dxy. that essentially equates to about $1.24 on euro-dollar. basic formula, yields are up, dollar is down. there is a net outflow out of the u.s. dollar. we talk about strength in the yen. is it about the yen or weak dollar? the u.s. dollar has weakened against every single one of its peers. it comes back to the twin def

this is bloomberg markets: asia. analysts are betting that china's biggest banks have further to run this year, powered by a robust economy and a crackdown that is squeezing the rifles many are actually picking chinese construction banks is the biggest winner. we are joined from aging. why the exuberance in the confidence? particular with china construction bank, a number of factors, there are those interest margins. npl, they are looking pretty robust compared to their arrival. this is what you are getting this interest rate you have had the majority of analysts rate this. there is goldman sachs, morgan stanley, raising their price 'srget for the stock fifth-year. the timeline is going to increase about 17%. you have the institutional investors like blackrock investing in construction bank. it is not the only one. resultte 2017, a longer that expect it. expected, there is this crackdown that is squeezing the smaller players. they are all likely to do fairly well. david: i am just looking here. buys one wholesale. wh

we have taiwan, singapore, asia. markets mays like be suffering from motion sickness, given the turbulence across the board. over $5 trillion are raised global stock valuations in january. how low can we go? losses of over 3%. 6. worst drop since february losses as well for the sti, joining their brethren in the red. let's get a quick check of moves in the currency space. the aussie dollar, pulling the rba's statement. it was dragged lower by the rba governor's speech in which he said he will not push rates higher. pressure, won under watching that 111 level. -- yen holding on to gains holding on to gains. oil at the biggest drop in 10 to 11 months. two opec nations set to open up giant fields. anxiety for crude traders today. again investors once dealt a stark reminder of how quickly things can change with regards to the chinese markets. sophie: there may be more pain. traders are reducing their leverage position. 051, margin financing, the line in white, has fallen to the highest -- lowest level since january 2016.

welcome to "daybreak asia." asian pacific stocks enter march in decline, february 1 of the wildest months in years. david: wall street has a bad day at the office. worst day in equities since the elections in 2016. .avid: pboc and governors tomart raises the buying age 21. president trump says congress is a scared of the nra. yvonne: we have been talking about trade tensions rallying. we have export and import data from south korea. foring expectations february, despite the lunar new year holiday. there are seasonal effects in play. we are seeing the drop from 20.22% from 4%. but better than what economists were expecting a 0.5%. david: have a look at our bloomberg chart, to track exports and the change year on year. 4% as yvonne was pointing out, that is the slowest pace of export growth, going back to november last year. that is 4% for you. here is the recovery, seasonal, hopefully. the marketing korea is closed. we are getting movement across the currency. across the markets, japan is opening it up. let's get

you're watching "daybreak asia." the markets are rebounding and asia in tandem with what we saw in the u.s. the nikkei 225 up about 3% at this point. let's get to first word news with jessica summers. tech, consumer and material stocks helped u.s. stocks to their best day in more than here. as markets fell from eight today rout that went global. the s&p 500 index rose the most, while the dow jones surged the most in two years. treasury yields swung the for measuring higher, while the dollar declined after two days of gains. bitcoin gained for the first time in six days, snapping a losing streak that pushed overall losses in digital currencies to half $1 trillion. the leading cryptocurrency was helped by the return of risk appetite. they already have the regulatory oversight needed for enforcement. jay clayton told a congressional s arettee that all ico' security failed. >> they only work for their purported purpose if are integrated with the financial system. therefore, in necessarily touches on all legislation. jess

they haven't had any of that backlash against them in asia. is that something that can come in the future when they catch 7 come in the future when they catch up? when a bank becomes very focused on one particular thing, one predicted —— particular product in one area, it raises potential risks. people like with bank investments is to make them dull, boring and ridicule. in the past, hsbc achieved all of these in absolute spades. —— predictable. it has been more exciting the last couple of years. they still face a number of challenges, they are still your‘s biggest bank. that potentially makes them a target for us regulators if we have any further rejectionists that and they are so big, even in places like the uk, turning them around and introducing new technology which customers want ta kes a technology which customers want takes a long time. they have that challenge for sure. let's talk about the change at the top. something has beenin the change at the top. something has been in place for a while. the handover has been going on fo

not as much around asia. we will bring you the numbers. .6%.tse is down this is bloomberg. ♪ ♪ 24 minutes into the equity market session in europe and this is the picture we find ourselves with. the paris market with similar numbers, what 5%. germany is outperforming a touch. nevertheless, europe is posting numbers which are down less than 1%. at this point, fair values point to a positive start stateside. i think we need to get to last time before we get to a realistic assessment of probably how we are going to finish the week. u.s. traders need to get to their desk. we will see how they are positioned. i want to bring you this chart and let's talk about it. will hobbs joining us from barclays. a,ant to get a sense of whether there are the cash balances to do that. you are running what, 10%? between 5-10%. this is a chart that shows, and the blue line shows by the depth mentions in mainstream news feeds. they are at a record. main street wants to buy the dip. is main street about to get sucked in to a di

he is ahead of asia economy at oxford. aboutg after the break andfed affect, jay powell, the hawkish statement in congress later on the way. this is bloomberg. ♪ >> he delivered his first official testimony to congress as federal reserve chair. that was seen as something as a caucus -- hawkish symbol. we're here with a look. is he leaning towards full rate hikes? pretty robust conversation in the market about this possibility. >> well, heidi, he is opened the door for rate hike this year. it remains to be seen whether he is leaning towards it. during that testimony, during i saw his policy statement, his speech at the beginning, i thought this is the boilerplate. we've heard this before. when he got to the q&a, he was asked specifically about three or four hikes, are you ready to accelerate the pace? he said, jobs are growing, inflation is rising, these are all reasons for the economy to do better. this is the difference from december. i do not want to prejudge it. i think he is leaving the door open but is waiting to se

good morning, asia, hello, world, it isa good morning, asia, hello, world, it is a friday. thank you forjoining asia business report. we start with malcolm turnbull, the prime minister of australia, meeting donald trump very soon at the - house. he is very soon at the white house. he is travelling with a large delegation of business leaders to boost trade. australia— us trade last year rose to $34 billion. major australian exports include beef, other meats, and spacecraft. the us is the largest foreign investor into australia, pumping in $672 billion into the economy last year to be i spoke to a professor at the university of sydney, who said it is an important relationship. they are at the largest investor in australia, and the largest destination of australian foreign investment. it has been that way for decades. the role of the us is fundamental and is critical to the of australia. it is critical growth of australia. it is critical to the relationship of both of these countries. you were part of the trans—pacific partnership. now the us is out of it. the revised tpp

the malaise has already spread to asia. the nikkei is down over 5% and the hang seng is down over 4.5%. the dow lost over 1,100 points and a quarter of the trump rally has now been wiped out. i'll have an expert view with me in the studio in a moment, but first this report from katie silver. little did they know, they were ringing in the bell on what was to be the worst day on wall street in a decade. the dow jones industrial average, which measures the performance of 30 major companies, fell by an unprecedented 1,175 points. and it wasn't the only index to tumble. the nasdaq composite dropped almost 3.8%, while the s&p 500 lost more than 4%, its biggest drop since 2011. the trouble began last friday when new figures showed wages in the us were growing faster than expected. investors predict that a rise in salaries will cause more people to spend more, pushing up inflation. and if there's a rise in inflation, the us federal reserve will hike interest rates, which the market doesn't like. the wall street plunge isn't a good

are they betting too much of asia? it's a global bank. yes, but in all these years, hong kong and asia has been the anchor underpinning hsbc. hong kong's retail business is the engine which keeps the bank going. how different for the management bile —— management style be? stuart gulliver, oxbridge, trader, global. john flint, polytechnic, sportsman, on the ground, retail builder. i expect to see john flint on the ground, retail builder. i expect to seejohn flint on the ground and working the machinery and bringing it back to what its original focus bringing it back to what its originalfocus is which is bringing it back to what its original focus is which is asset heavy mortgages, retail, wealth management, those types of businesses. let's create a job description forjohn flint. john flint has to demonstrate a digital strategy for the bank, it is the one global bank which doesn't seem to that articulated one very strongly. he needs to up the fees side of the business and not be so asset dependent on the cost part, it is still nagging.