i am haidi lun in hong kong. tracy: and i am tracy alloway in dubai. dhabi sovereign investment fund posted a first cap loss after its stake and credit slump. any are merging to create it entity with assets of $125 billion and debt of about $42 billion. they recorded a $91 million loss, compared to $1.3 billion and profit a year earlier. whichold 5% of credit, stock fell 62% in the first six months. recommends ank capital increase. the board will submit recommendations for an extraordinary general meeting in march. they will also approve a plan to be introduced. developmentbusiness needs more details, they will be released after the regulatory green light is received. tracy: saudi arabia is teaming up with china to build solar projects in morocco. construct three photo fields, combined one hundred 70 megawatts. morocco wants half of its energy to come from renewable sources by 2030. it is the only country in north africa without significant fossil field reserves, and imports over 90% of its energy. engaging with young people and boosting innovation hav

i'm haidi lun. this is bloomberg. weie: later in the show, will speak to someone overseeing saudi arabia's plan to create an industrial city in the desert. that is coming up next -- the man who predicted the crash and oil prices, now saying opec will collectively agree to cut output this month. find out more, details next. number bill -- this is bloomberg. ♪ manus: it's bloomberg markets: middle east. we are live in riyadh. angie: let's get you a quick check of your business flash headlines. mumbai afterng in the bed bath & beyond distance itself from the indian batting supplier. the company says it will not sheets because of independent audit shows they cannot guarantee the fibers are egyptian cotton. target and walmart have also cut ties over concerns about the product's origins. australia's competition and consumer commission has file criminal charges against the japanese container shipping company, kawasaki tyson. between 2009 and 2012, the accc says the investigation into other alleged cartel members is continu

haidi lun is in hong kong with the latest. if you need any sort of example to tell you that this is not a u.s. story, it has global revocations, you have to look at this heinous selloff in asia. the first markets reacting to the potential of trump in the white house. there is the argument that they have gotten a little too countable with the prospect of clinton winning this election. this is what we are seeing. where are they hiding? it is a classic safe haven story. they will come off some of the session highs when it comes to you in dollars. we are up.-- if trump manages to secure that the, we are going to see the yen touching at 98, 99. as we speak, the market has closed. we have the bank of japan and other regulators meeting in tokyo this hour to talk about the international markets. we have already seen the bank of korea have a meeting today. they want to intervene on the ethics markets. we have had authorities coming through from japan saying these moves are volatile and very harsh. the bank of japan, when can they toler

i am haidi lun. this is "bloomberg markets: asia." ♪ reasons for optimism, japan's smashing expectations. >> data from china expected to show continuing industrial-strength, gain in retail sales, and investment. afterd: the kiwi swings powerful tremors cut the main north-south highway. what may be the most successful casino of all time. rishaad: right, just having a look at this chart. it attracts the fortunes of the 500 richest people in the world. >> we know markets for royal last week, the recovery rally, and so some segments continuing. there we have it. the two weeks of ups and downs, ending in a tumultuous u.s. election week, down $6 billion. these of the world's 500 richest people. we have the decline of $64 billion on the result of trumpeting in the white house. rishaad: right. and kuala taipei lumpur coming online. all right, markets mixed following what wasn't the most pleasant of weeks in asia. the story comes down to japan, where you have a weak yen. followinge nikkei 225 the quake. , d

i am haidi lun, this is bloomberg. oil is trading near a two-week low. opec failed to agree wednesday to cut output to stabilize prices. at the vienna talks, saying it will refuse to lower production despite pressure from saudi arabia. >> all the options are on the table and they will be discussed. we need the rationale in any decision we make to be conclusive. let's get the latest, we are on the phone now with a reporter from a vienna. talks aboutil opec the deal. the details are shaky. what happened, if there is no deal? >> good morning. it is up in the air, there is no deal. but anything could happen. they could agree not to meet for six months. it took months for them to meet again. if the price of oil drops, and many analysts are saying they could see oil in the 20's. be sooner rather than later, if they are under pressure because of oil prices. here?anyone exempt >> there has been much internal strife and pressure, they cannot economically afford more cuts. -- thisis and iranians is what the deal comes down to. the saudi arabia and say they will no

haidi: i am haidi lun in hong kong. let's get a look at the business flash. shares from china's biggest property developer are gaining. raised its stake to 8.3%. they have been on a debt fund buying spree. they built of their land bank in china and are trying to inject assets into a property company on the mainland. police in singapore have named a person of interest in a money laundering investigation. they told the court hearing about the probe relates to sophisticated money-laundering involving billions of dollars across multiple jurisdictions. the singapore investigation started in 2016, and this included many other people. trader accused of contributing to the 2010 flash crash has pleaded guilty. he is the second person convicted of such plots of manipulation. $14 million. he took stock futures over five years. he was sent to chicago to face charges of manipulation. we are in downtown dubai billionaire headquarters. let's get back to the conversation with him. thank you for staying with us. we were speaking about iran. if you support trump renegotiating

. ♪ haidi: welcome back. you are watching bloomberg. i am haidi lun in hong kong. manus: i am manus cranny in dubai. pressure on the president of south korea after prosecutors said she did play a role in pedaling influence and access. collusion,ations are and some of her close allies have already been indicted. give us an update here at -- update. yesterday, her longtime friend was indicted, as two former aides. friend was charged with coursing businesses to donate to foundations that she controlled. the allegation is that she siphon that money for her own personal use. one of the former aides as well as another one for sharing classified documents. in the indictment, the more interesting element that is making the news is of course that the prosecutor has alleged that the president had played a major role in this extortion scheme. the allegation is that she basically pressured major companies, for instance samsung and hyundai, to donate tens of millions of dollars, a total of 65 million dollars, to two foundations that she controlled. it is a scandal not going awa

i'm haidi lun. this is bloomberg. angie: still to come this hour u.s.ing vulnerable to the election results. plus, what will a clinton or trump presidency mean for the fed? or analysis next. this is bloomberg. ♪ angie: investors are pricing in a hillary clinton presidency after one of the most divisive presidencies in recent memory. let's go to kathleen hays in new york. a hillary clinton they treat looks to be good for stocks, bad for bonds. why? kathleen: it has nothing to do with politics and every thing to do with uncertainty. the market is pretty much pricing and a clinton victory, a market analyst making that point. reporterloomberg news who posted a terrific guide to the elections, what to watch him a you can find that on lumber.com. clinton is a status quo candidate. she is not going to really rock the boat. on the other hand, donald trump would be a big surprise. he would create a lot of uncertainty in financial markets. has u.s. and global investors rushing to the safety of treasuries. a flight to quality,

♪ i am rishaad salamat haidi. haidi: i am haidi lun. this is "bloomberg markets: asia." ♪ rishaad: asian stocks climbing with the mexican peso while havens fall. reaffirms hillary clinton's e-mail usage was not a crime. hong kong sales cut by up to 70%. beijing'snger over influence returning to hong kong. a legal ruling could come today. haidi: samsung seeks redemption with the plans for ai in its next-generation smartphone. rishaad: the mexican peso on the way up. also, other ways of looking at this election. haidi: the yen weakening. the fbi came out and said basically never mind. take a look at this chart. it looks at the implied theability according to polls rather than the markets. markets tendedng toav exaggerated moved when looking at times of uncertainty, and that is what we are seeing here with the volatility index and the s&p with nine straight days of losses. haidi: there could be several more black swan events. it'll must looked from a market that the remain camp was a shoo-in, but we know. presidency,a trump markets will

i'm haidi lun with update on the current stories. asian currencies are at a seven year low against the dollar. the philippine peso has fallen past 50 for the first time this decade during the r.b.i. could group that could intervene with the rupee at an all-time low. isrces say the credit sweep courting investment from a group of institutions for $2 billion to buy a hedge fund. it is said to be eyeing a minority stake in government money managers. they determined is from using their own money to trade. exports.g weak they economy will probably avoid a recession. the annual expansion of one to 1.5% the previous month. they had projected a 4.1% cotton. over resources is paying $1 billion on a stake in a rival developer to expand into cities. billion shares of china enterprise, about 21% of the company. they gives them resources to land parcels in shanghai and cities around the financial hub. this is bloomberg. let's look at how things are faring on the asian-pacific markets. to have been mixed so far. >> japan certainly is the front-run

here is haidi lun. haidi: it is hard to get around the core of the narrative when it comes to how markets are trading in asia as markets open up on your side of the world as well. it is all the oil story. some gyrations, saudi arabia saying the supply cut may not be needed after all. is what wes, this are seeing. we are off the session lows when it comes to crude prices. of uti is looking like, not as bad as where we were earlier. will be the key and terms of managing the event risks going into the week. we are seeing this flocking back to safe haven assets. of .6%,eing that jump although we are off session highs. the dollar index is the other part of the story. --are seeing some risk fight rspite for asian currencies given the second day of decline. ,he u.s. jobs report potentially derailing that u.s. dollar move we have seen over the past three weeks or so. the japanese yen is the unfortunate benefactor of the dollar weakness, 112, and that is weighing on equities. the japanese yen weighing on exporte

let's get across to haidi lun with the first word news. haidi: good to see you. china has ousted a veteran finance minister, replacing him. the nation's top legislature announced the change and a one line statement without giving further details. worked for-old has three years as vice secretary general of the state council. china has ruled that anyone who supports independence from hong kong cannot hold public office. the decision by the standing its secondas only unilateral interpretation of hong kong losses the return to china. it came hours after police scuffled with protesters following the biggest anti-beijing rally in two years. property stocks plunging after downgrades. home prices are expected to plunge after a surprise move. property executive see prices falling between 5% and 8% as buyers and sellers hit the floor running. the government announced the plan to raise the stamp duty to 50% for all residential purchases. theresa may says her brexit timetable will not be altered. exposed deep political divisions in britain with conservative newspapers blasti

haidi: this is bloomberg markets asia. i am haidi lun. rishaad: i am rishaad salamat. up the rest of the asia-pacific. >> that's right. tove seen the nikkei hold on those highs on monday before retreating yesterday. 2%, even as we see the yen gain a little against the dollar in the morning session, but it had quite a bit of a retreat during yesterday's session. banking stocks looking good, financials lifting those gains on the nikkei as they head into break. elsewhere, conviction in the regional index, but not just emerging markets, which recovered from four-month lows, also some strength key players kospil, the supported by that weaker dollar. a little switch out from the shanghai composite. the bond market as well, 10 year japanese bonds, we did see the yield retreat a little bit from that level we saw, the first time the yield at 0% since september. having a look at australia, the yield they're a little weaker as well, down slightly. i want to show you some stocks we are watching in the region. having strongdai heavy movement following the announcement of its busine

lun with an update on the top story. asian currencies are at seven-year lows against the u.s. dollar. the philippine peso has fallen --t his due to the dollar past 50 to the dollar for the first time in a decade. indian officials have come out that the r.b.i. needs to take action to deal with the declines in the ruby. -- rupee. the you and also under pressure trying to fix for the first time since june 2008 after the dollar index rose to its highest

lun this is bloomberg. ♪ >> still ahead, students seeing a high-frequency future leaves banks and their way for trouble for wall street recruiters a little bit later by next up the latest addition on the growth i've for the uae and center video when emirates nbd releases their pmi survey daily break the data across the bloomberg terminal right now after this short -- ♪ >> emirates nbd has released their pmi numbers. on the uae, dropping from 54.1. that is the lowest since april. new orders actually rise to 53.2. employment is falling from the prior month and is the lowest reading since april. looking at the non-oil-producing private sector, this is employment. that is the uae and that is disappointing. , 53.2 pmi, down from september. you are looking at the lowest reading on record. this is a record low reading in saudi arabia. new orders also falling. , the lowestalling since april. when it comes to saudi and they a material seeing drift lower, record lows for those country. pimm fox will be with us from emirates nbd to run us through the headlines. let's shift here is talk about the

haidi lun has the latest from the markets. there is a lot of event risk building into trading this week. opec come all about oil has that meeting is underway. we will see the moment of truth, can producers get to this production cut priced into the market? prices, down another leg, 30 three cents, the biggest trop in more than two months on friday as optimism starts to fade about whether an agreement can be reached given not all parties are still on board. we will be watching the energy space in particular this week. asian session, mixed picture, nikkei 225 giving back gains, down .5%. we do have a stronger yen, so weighing on sentiment there. up by .10 percent, massive protests over this influence peddling scandal plaguing the leadership. in australia, some weakness, down .2%. new zealand stocks up by .25%, driven by agricultural stocks. aboutt week was all energy and materials, and this week, you are watching commodities and metals space. >> we have this ramp up when it comes to metals, front and center given china pmi's thi

haidi lun is with us. haidi: hey, manus. donald trump has interviewed top investments executives for the role of treasury secretary. people attended meetings at the trump national golf club in new jersey over the weekend. ofmet with the global head real estate at blackstone group. meanwhile, president barack obama says he intends to give donald trump space to lead the u.s. and set his own agenda, but is reserving the right to reinsert himself. remains involved, it would market up recentfro a departure from his successes. mports plunged 16.5%. exports were down over 9%. the u.s. shipments fell more than 11%. u.k. prime minister theresa may will urge businesses to work with the government to ensure the benefits of capitalism are shared more equally. may will underline her believes that the vote for brexit was the people's call for a fairer economy. the polish president has expressed his concern that remarks around brexit will lead to a looser cooperation between the u.k. and the european union. we want ties between europe and

i am haidi lun. rishaad: i am rishaad salamat. the yuan fix just coming through. we are looking at 6.7491. of this dollarck selloff we have seen. rishaad: i have a chart showing us what is going on. that is how we are seeing the 6.76, theion, si onshore price. hot on the heels of manufacturing data, strength stronger than anticipated. what have we got at the moment? elite asbit of well, pmi at 52.4, still picking up. right, let's get over to the market open for hong kong , shenzhen, and shanghai. david: a quick look at the offshore renminbi. not the biggest adjustment. that is the level right now, consolidating, as with most currencies. shanghai, hong kong, have a look at the open. yesterday, every single stock was lower. have a look, top three and bottom three. unicom, nice bit, 1%. .3 percent,n philippine seeing declines after the vegas out lows of foreign money going back to mid september. bit,s recovered a little still be ind correction territory, 10% down from the pink -- peak. hong kong, earnings coming macau down 3%, long story short, sales miss testaments.

i am haidi lun. >> trade was top of the agenda peru. apec meeting in australia -- >> australia's minister for trade and investments spoke to us after returning from the summit. he agreed there are reasons to be concerned. globally at this point in time is that we are seeing a slowdown in trade numbers. we have consistently seen from the imf and others that trade is not growing as rapidly as it has . australia is absolutely committed towards continuing to grow trade and grow trade opportunities. thingna's president gigi said hedent xi jinping was greater cooperation. why that approaches unsurprising. -- little considered considerations, there has always been a continuation of free trade and trading negotiation. i think china is happy to continue going down this route. it helps the regional economy. what we have heard from the eting iseting -- apec me that china wants to be as involved as possible. i think they are in favor of continuing free-trade. >> while uncertainty hangs over international trade relations, our chairman told us that t

colleague haidi lun and is standing by with the country's finance minister. how are they positioning themselves on this? the general mood is still optimism going into next week's vote, but australia has a lot of in in the game when it comes to tpp. australia's finance minister. been talking about the two u.s. presidential candidates opinion when it comes to the tpp, are you still optimistic? a lot of people are saying it is dead in the water. >> it is an important agreement that covers 40% of the world's economy, and from australia's point of view, we are quietly hopeful there is an opportunity to pass the agreement through the u.s. congress. world trade and economy would benefit. if it is notappens pass? ?- passed do you work harder to reestablish these bilateral deals? >> that is what we have been doing. we have been able to finalize free trade agreements with china, south korea, japan. we are focused on finalizing a free trade agreement with india. are working with the european union, so we will continue to pursue bilaterally. a good opportunity for the wo

there is haidi lun. trump we are seeing this risk of age -- risk aversion again.lay out the malaysian central bank had intervened when it came to the currency and this is the reaction we see, stabilizing somewhat after that move was announced. but if you look over the past week or so, since the trump news came through, we are actually down 5% and it is not the only one when it comes to these agent conservancies -- currencies thing the downside. they're really having to step in today. we are also seeing some declines today -- we looking at a five-month low. what we are at seeing for oil as well ahead of the delhi meeting. we are seeing some risk aversion's come all the break is doing better. a quick look at how the markets are doing and we're looking at a pretty mixed session. take a look at japan. this is the leading gainer of this week. they are heading for the bull market if we managed to close in that territory. in real,nto the close hong kong, and china. tracy: welcome back to the best of bloomberg m

haidi: this is "bloomberg markets: asia". i am haidi lun. rishaad: i am rishaad salamat. going a look at what is on as we head to the japanese lunch break. juliette: japanese equities higher, up by .1% after a retreat yesterday from that strong rally. the nikkei and topix both still in the market territory. the shanghai composite down .7%. an interesting note if you are bullish on chinese equities for the long-term, saying china stocks will rise by 12% by the end of 2017, with an upside on the csi 300 and the hang seng china enterprises index. the hong kong index up by a .ound of point 3% some of those casino stocks pulling back. the weakness in commodity prices playing into the asx 200, the basic materials sector off by 2.6%, iron or falls to a on-week low, weighing fortescue metals group, and weakness in the oil and gas sector ahead of the opec meeting. stocks falling in australia in the oil and gas sector. santos is off by 2%. that weakness in the oil price sophie was talking about, crude oil tracking at a two week low, playing into energy related currencies. ae malays

for the latest, here's haidi lun. as you said earlier, asian markets have been relatively protected from the growing political anxiety in the u.s. we have seen not a lot of convictions in terms of strong positions being taken. we are less than a week away from that vote. we are seeing a lot of risk aversion across the board. up by 2%. 225 these are session lows we are looking at. we have a stronger yen on the back of the steep selloff of the dollar overnight. we also have reaction to the bank of japan not adding to further stimulus yesterday, as well as the timeframe weighing on sentiment. with new zealand up, they are having really good jobless numbers coming through. the economy seems to be doing very well. still, you can see how negative the sentiment is. by 1.5%. down that positive feedback we had from that all-around pmi beats coming in from china is one off. we are seeing the u.s. headlines, trump taking the lead in some of these polls starting to weigh on sentiment in asia. starts here, slumping to an 11 week l

i am haidi lun. i am rishaad salamat. this is "bloomberg markets: asia." ♪ fix for pboc, the yuan the ninth straight day. shares approach their highest level since february. hong kong moving closer to a trading link with china. members hold opec meetings to bridge the divide on production cuts. rishaad: we have the trump thect, this is the chart of hour. year to date, what is it telling us? haidi: the trump affect driving up volatility after the elections, and this could be good for asian assets. if you look at where the price is now and going forward in terms of futures options, some discounts coming through. we can see how volatility has spiked after the election taking place. the results in a way are off the higher valuations and price-to-earnings multiples, 13.8,

. >> i am haidi lun. this is "bloomberg markets: asia." ♪ >> oil hovers near a two week low amid deep divisions in opec. iran has no intention of cutting production. rishaad: goldman sachs seeing a 30% chance of a deal. executive isanking donald trump's pick. >> if president park is forced out, investors want to know who is in charge. asian markets back on track, particularly japan, the topix snapping that winning streak yesterday, but gains again today on the back of a strong session on wall street overnight. rishaad: we are having a look at the action. juliette: most asian markets are weakness, andle the shanghai composite load today, down .8%. the won trading higher against the dollar, the kospi

i am haidi lun with an update. shares are extending gains 2% after they reported profit of $5.6 billion, a beat on estimates. hsbc ceo stuart gulliver is trying to maintain revenue. efforts to reach global assets into asia have been complicated by china's slowing economy. hong kong's chief executive says there will be the immediate adoption of a ruling from beijing that came from the national people's congress committee hours after police scuffled with protesters in the biggest anti-beijing rally in two years. hong kong stock is plunging. prices are falling between 5% and 8%. on friday, the government announced plans to raise the stamp duty to 15% for residential purchases. a japanese company is cooperating with investigators. raids wered that over suspected breach of overtime limits. 24 hours a day powered by 2600 journalists and analysts in 120 countries, this is bloomberg. let's look at how the rest of the markets across the asia-pacific have been trading today. >> look at this for monday. a lot of buying coming

here is haidi lun. >> former goldman sachs partners mnuchin is donald trump choice for treasury secretary. trump plans to nominate wilbur and as commerce secretary, an announcement on the selections could come as soon as today. it donald trump lands to continue his auditions for secretary of state, according to a person familiar with the transition. he will bring back john kelly for a follow-up interview at trump tower in new york today. romney,candidate, mitt had a second meeting with the president elect at a dinner last night. european council president donald tusk has rejected a call from british lawmakers for him to act to protect the rights of compatriots after that's it. he hit back after being urged in that residents would not before to leave. he dismissed a claim that the european commission is obstructing efforts to reach an agreement, causing uncertainty. the european commission pot brexit negotiator -- commission's brexit negotiator -- for european parliament approval means that any agreement must be concluded by the second half of 2018. that is according to a government offici

haidi lun has the details. member of donald trump teams as the incoming administration is considering how to fix roads and bridges in a way hillary clinton had promoted in her campaign and the republicans had derided. haidi: they talk to and infrastructure bank to pay for the work, controlled by washington and funded by $275 billion tax increase on business. regulatory changes, looking at the creation of if theructure bank and structure investments. there is a lot of things to do. of the economic priorities are clearly taxes, regulatory, trade and infrastructure. haidi: president barack obama and german chancellor angela merkel have made a joint call for a socially responsible country and pushing vatican -- pushing back against trade. essay, "simply put, we are stronger when we work together. we are standing at a crossroads. the future is already here and a return to before globalization will not happen." the 7.1 percent rise underscores the nation's resilience to global risk as investments surge and consumers

the entree rate hike in december inmly -- the rate hike december -- haidi lun has the story. trump has urged americano to put the device is political campaign behind them and rally together to build a thriving nation. in a message for the things giving holiday, he offered words of conciliation and unity. prayer thatt is my on this thanksgiving, we begin to heal our misgivings and come together as one country, and very common resolve. donald trump expected to nominate investor roth as secretary of commerce. bybecame a billionaire acquiring and restructuring troubled companies. toched by phone, he declined comment. the billionaire heading one of china's most inquisitive companies says donald trump is unlikely to follow through on his promise of a trade war. the company says he will continue to invest in the u.s. leaders of both countries are smart enough to find the best way to cooperate. i am particularly concerned. i am actually optimistic about the changes a businessman-turned -president would make you america. so maybe it is good. maybe there are some opportunities. haidi:

. ♪ ♪ i am rishaad salamat haidi. haidi: i am haidi lun. this is "bloomberg markets: asia." ♪ rishaad: asian stocks climbing with the mexican peso while havens fall. reaffirms hillary clinton's e-mail usage was not a crime. haidi:

i am haidi lun. this is "bloomberg markets: asia." ♪ reasons for optimism, japan's smashing expectations. >> data from china expected to show continuing industrial-strength, gain in retail sales, i

. >> i am haidi lun. lufthansa pilot stepping up paid to man's with new strikes. the four-day action ended on sunday, but pilots on short-haul flights will walk out on tuesday, and all pilots on wednesday. thousands of flights canceled, and the ceo says the airline cannot survive if it caves in to demands. electric's bill for cleaning up the fukushima plant could be more than $175 billion. estimates come from the ministry of industry, which say the cost with compensation and decommissioning continues to rise. the plant was devastated in march 2011. tremors last week did not cause any new damage. its pollution up fight by requiring dirty industries to track and limit the damage they do to the environment. ampanies will have to have so-called pollution license. with powerwill start plants and papermaking industries, but will apply across all sectors eventually. >> welcome back. joining me at our guest is richard harris. in our fashion segment that we ,all our group discussion pointing to your very lovely time here. we are not even into december yet. >> it is a time