>> asia: they're fascists? [ anthony laughs ] >> asia: if, uh, there's a little fascist inside in each one of you too. >> anthony: um, look, visit the states these days. it's, uh, it's coming back. it's big. >> asia: it's coming back in what sense? what is, uh -- >> anthony: i think we're looking, we're looking for a man on a horse to make everything better. >> asia: yes. but we always have. humans always have god figure, father figure that is going to tell you what to do. people, um, in italy, yeah, in rome, still love mussolini. >> anthony: what happened to mussolini again? as i recall, uh -- >> asia: oh, he got hanged upside down in milan, piazzale loreto, and everybody would go there and throw stones. >> anthony: what a turnaround. i mean, at one time is just so popular and then -- >> asia: that's what happens with all the idols. you know? you create them so you can destroy them. >> anthony: wow. ♪ >> asia: thank you for bringing me here. i don't think i've ever been or ever will come back. ♪ maybe for

-- asia-pacific. p.m. xuan phuc: [speaking vietnamese] translator: this vast region embraces the world's leading economies, inc. cutie -- including many dynamic economies. it accounts for over 55% of global gdp and is poised to advance trade, investment, connectivity, all in the context of the fourth industrial revolution. p.m. xuan phuc: [speaking vietnamese] translator: vietnam-working responsibly with countries in the region to translate these opportunities into strong dimon is him for growth -- dynamism dealing withile the threat of terrorism and violence, extremism, unilateral's position in power politics come increased pressure searchsources and the for new resources, poverty, population growth, nontraditional security threats, and complex and unpredictable development in the east china sea and south china sea. p.m. xuan phuc: [speaking vietnamese] these are challenges beyond the ability of a single power to address nor can they be had with selfish national interest in mind. p.m. xuan phuc: [spe

hopefully some love for the bowls in asia's market. asia's market. yvonne: let's get more on the market. >> the bulls maybe coming out to play in korea and japan. thanks to that rebound tech shares. we do have slight losses seen at the open in sydney. we do have data on deck in asia, china. investor outlook and another catalyst for weakness could be the drop in iron ore prices. we saw it fall to a june 2016 low overnight. when it comes to potential market movers we are watching, gaining stocks have been feeling the love. check on reactions to nintendo's new games at a conference and l.a.. the stock has soared 120% in the past year. that market,da in the carmaker reportedly adding over 200,000 workers to a joint maker with china to ramp up china suv output. we have seen the likes of honda and kia against backlash when it comes to chinese consumers. take a look at crowne resorts in sydney on the radar. cba strategist chris walters sees less the vip plays from china. although the casino player still has high rollers. while they are still flush with cash

in asia—pacific, in more than half of the pipeline, it is in asia—pacific. this is a luxury part of the world. who do you target? every segment. we have 20 brands in the asia—pacific. it goes all the way down to more economic travellers who decide to stay in more economic brands. chinese travellers are strategically twofold. chinese travellers inside of china growing at a very fast rate, double digits. outbound travel, it is huge. we would never have seen that in many resort destinations. today, the number one source market is china. what other markets are you looking at in asia? there is a slowdown in the north american market where you still have the biggest presence. donald trump cannot have helped and his policies. it made us worried, but we had a great start to the year. the good news is we are naturally hedged. in the asia—pacific, the largest source markets for us were intra—asia travellers. they are the number one market for everything asia—pacific. the indians are growing at a great rate, outbound indian travellers. uk labour rally travel an

and asia headquarters. we just got those disappointing retail sales numbers from japan, down 1.6%, much more than what economists had asked acted, although less the year on year figure, only 2%. economists had expected 2.6%. disappointing overall. reason to notves take accommodation away soon. governor kuroda did not chime in on this chorus from central , butgovernors and portugal the market is interpreting these moves from bank of canada and mark carney. we did see the ecb how to away from some of the comments yesterday after that mini taper tantrum. let's get the latest with shery ahn. draghi himself did not dispute that his comments were misinterpreted. that said a lot. yes, it is the central banks. the major banks have spoken about the global economy and that will set the tone for markets in asia. u.s. stocks gaining the most in thateeks, so we are saying come into the asian trading session. gaine seeing the kospi wound is even at an all-time high. gainingh korean won after losing ground in the last ses

stay with us on daybreak asia. this is bloomberg. ♪ anchor: a quick check of the latest business flash headlines. the final announcement of the sale of toshiba's chip unit may be delayed. toshiba had hoped to finalize the deal by wednesday, but sources say the buyers are conducting due diligence and are in no hurry to close. the arrangement could yet change depending on western digital, which is contesting the sale. the rally enjoyed by this company is underlying the disconnect. shares jumped by a 10% daily limit at the close, bringing the rally to 26%. developers shares of have risen by 5% and are now at a tony yvonne: taking a live look out of victoria harbour this morning. it pretty clear day out there. fingers crossed we don't get any rain. no doubt we could see distance over the next couple of days or so. betty. betty: indeed. no rain here. it is 7:30 p.m. monday evening in new york. onkets are closing, flattish the s&p. further declines in the nasdaq shares. i am betty liu in new york. yvonne: i am yvonne m

is "daybreak asia" coming to you live from bloomberg's u.s. and asia headquarters. the week and asia was too short, missing you already. bit of a jolt to wake up asia, but also central-bank decisions, heads speaking this week. let's take a look at asia, slow going on this monday morning. x 50.on the nz austria, counting down to the open in sydney, seoul, korea, and tokyo. $43, so couldve be a boost for equities. slightly higher when it comes tospi 500 futures. spi 500 futures. we could be seeing equities , a 40 point loss at the open in tokyo, so still looking pretty quiet. today. markets closed singapore,in malaysia, indonesia, philippines, and india. >> that's right. looks in thesia early going. we continue to watch headlines ,oming out about takata deciding to file for bankruptcy today in a tokyo district court. far, no comments from the company, but we will be watching more detailsy and on this bankruptcy. let's get to first word news. haslinda: south korea has joined nations buying american shale gas. year deal will see cheniere lng sold to south korea. has com

,"tty: this is "daybreak asia live from bloomberg's u.s. and asia headquarters. i am betty liu, in new york. yvonne: i am yvonne man in hong kong. breaking news out of south korea on first quarter final gdp numbers coming in at 1.1%. for 0.9%s were hoping estimate. relatively marginal beats. a year on year figures coming in at 2.9%. gdp setting the fastest face -- pace we have seen since 2013. we will see what the market reaction will be. big story this morning that happened the last couple hours, the stunning announcement from president donald trump. we saw classic donald trump come out. we absolutely did. at that overshadowing any news we are getting so far. in terms of the reaction in the market, it was interesting. been.s. markets have getting higher. they ended at the top of the session. you can see the s&p higher by 0.8%. the dow adding on 135 points. the nasdaq composite rising 0.8%. the doomsday scenario we saw from u.s. ceos saying it would be bad for the economy has not played out yet. at least in today's session in the markets. do not read too much int

you have been named the best ceo in asia by corporate governance asia. talk about your business because i am having a hard time understanding your numbers since you changed your reporting system a little bit. break it down for us. >> when you compare it to the same time period as the year before, we have very solid topline growth. we are up 12% on topline growth, our business is about $3.9 billion business today at wholesale. our net profit was up close to 90% and our operating profit was up 30%. shery: what about your operating costs? 13% if i am not mistaken? what was that? >> we are a growth company. to be honest, it is in line with what our expectations are because our topline grew at 12%, but when you look at our margins, much higher. we added almost 200 basis points to our margin, so it is really in my with our business, so a lot of the overhead we added on his for the next three year plan, which we announced yesterday at our analyst briefing. nexto, it is a very solid three years ahead of us. shery: we tried to mapout your growth -- map out your g

there are many reasons why asia -- many reasons why we prefer asia on the whole. is a big part of the emerging markets story. they are implementing prime minister modi's overhaul of the tax system. gdp chart shows you india's and where it has been trending. nationsaid that this one to twois going to add up percentage points of growth. behis view, it will phenomenal for the economy. do you agree yeah co how important is this reform going to be? >> we do agree. on thevery positive reforms that prime minister modi has implemented. he has strengthened his credentials. this trend of demonetization, identification cards, tax reform. it includes more and more indians, more and more of the population in the financial system. reducing the black economy. this is very positive going forward. it is a market that we like very much. >> maybe perhaps this is surprising. the fact that lots of things have happened in washington, right? outything from trump coming to this crisis that we are facing in north korea. that it been surprised has not affected sentiment in asia? yeare last

you are watching "daybreak asia ." let's get first word news. >> msci has approved chinese domestic shares for inclusion in its benchmark indices, a landmark step in china's integration with the global financial system. it would give the almost $7 trillion a bigger market and everything etf to 401(k) retirement plans. shares of the included comprising .7% of their market gauge. >> when you do other computations on the number of shares and market cap and all what couldou look at investors put into the market, through the shanghai and shenzhen program with hong kong, the ceiling was restricted. therefore, we can spend time with the regulators and see if we can get it done in one step. part of the announcement is on to steps, to make sure we leave no flexibility. nina: msci had held off on reclassifying saudi arabia, argentina, and nigeria. it has been added to a potential watchlist of emerging market status. they call it an immense achievement. argentina will remain a frontier market for leased another year, while nigeri

some auto jobs are headed to asia and some of the call centre jobs are headed to asia and some of the call centrejobs are are headed to asia and some of the call centre jobs are headed are headed to asia and some of the call centrejobs are headed in are headed to asia and some of the call centre jobs are headed in the other direction. horizon is bringing jobs from the philippines back to the us. a more companies likely to follow this example? it is early afternoon here and it is knockoff time for these call centre employees who often worked the night shift. most work for a company which lost a contract with verizon. jobs usually head on the other direction, but horizon is hiring 1000 workers in the us and they are taking the jobs from here. so with donald trump to blame? we were informed of an agreement he had where people in the us were demanding that they no longer out first. —— outsourced. when a call centre pulls out in the philippines we can get a job even though the pay is not the same. the company may transfer these workers onto other contacts but right now they are bracing

to achieve peace in asia pacific and beyond. [ speaking vietnamese ] >> translator: almost a year ago, the unprecedented and very successful visit by party general secretary set a special milestone and critical turning point in our bilateral ties. this is now being followed by my first visit to america as prime minister of vietnam. [ speaking vietnamese ] >> translator: just before coming here, i held talks with president trump and prior to that had a series of meetings with american secretaries and politicians to discuss ways to strengthen the vietnam/u.s. comprehensive partnership. we agreed on a range of collaborative actions to realize the twin objectives of growth and jobs beneficial to both sides. we will encourage our businesses to form production and value chains and better connect our two markets in a way that would bring the most benefits to our people and to our businesses. [ speaking vietnamese ] >> translator: dear friends, the heritage foundation is a research institution having positive influence on america's policy-making process. your initiatives and recommendations h

this is "daybreak asia," live from bloomberg's u.s. and asia headquarters. i am betty liu here in new york where it is just after 7:00 p.m. yvonne: it is just after 7:00 a.m. here in hong kong. i am yvonne man. super thursdarsday is here. not sure how i will keep up between the ecb conference, james comey testimony, and the u.k. election. what you watching out for the most? betty: it has got to be comey. saying yesterday, must see tv. i think the entire country will be glued -- one of the most anticipated hearings in decades on capitol hill. the markets did rebounded today. not a lot, but we did see banking shares helping lead the index is higher. that writtene: testimony from james comey, no big bombshell, but it read like a suspense novel. the question is, what is going to move the markets in the next 24 hours? let's see how things are playing out in the asia-pacific so far. not as a risk on as we are seeing from the wall street session. .71 on the -- the kiwi at 96. a lot going on in australia, futures pretty timid. the aussie holding onto those gains fro

this is "bloomberg markets: asia." haidi: asia pacific negative after wall street's the kleins. rishaad: a new cyber attack adding to concern, affecting companies anit

this is "bloomberg markets: asia." ♪ haidi: asia-pacific markets put the brakes on text global slump, but the benchmark is led higher by sydney. rishaad: investors looking ahead to the decision from the federal reserve. the chances of a rate hike this week are almost 100%. haidi: big u.s. banks, preparing you -- regulations. -- new regulations. rishaad: how innovative is hong kong 20 years after the handover? has the city slipped off the pace? we are looking at chinese shares. we have aged shares. let's bring up this chart. all we have isou a situation that they are cheap, but this is something going on for a wild. looking back to 2006, seeing how cheap they are in terms of valuation and a share counterparts. betteralso have is value, something people are counting on for a while. that margin or divergence between the two has always been per point the would narrow, but is seemingly remaining at the same level. it's amazing how many people -- the alignment never really seems to happen. haidi: people are always talking about the convergence eating inevitable, but it has not happened, con

met losses for one of asia's richest men. they were among the biggest losers in hong kong as the slump in pound cut the value of the u.k. earnings. bid to percent after conservatives lost the majority in parliament. c.k. hatchets and generated 3 6% of pretax earnings from the u.k. last year. global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. >> thank you. theresa may's failure to win a majority in parliament and election she called for herself is casting a shadow of uncertainty over the economy. keepof the weak enough to the boe monetary policy on hold this week? kathleen is here with more. thatve seen politically the election result was bad for theresa may and her party, but economically speaking, we see these forces when you have lower growth, higher inflation, and a weaker pound. a weaker pound and so much uncertainty. forgeresa may palling to ahead and get on with brexit negotiations which start on june 19. herhe polls suggested, power, her influenc

you're watching "daybreak asia." we are getting those singapore numbers out on exports, nonoil , 8.1% for thets month of may. electronic imports, more than double the expectation of a 4.2% rise. looking at year on year, you can see it fell by 1.2%. a smaller fall than what economists estimated at 5.6%. this was helped by electronic exports, rising 23.3%, a substantial gain from the prior month and also for exceeding the economists'expectations of an 11.9% rise. certainly good news for the city there on the export and trade front. let's get to first word news. paul? putin used his annual tv show to poke fun of washington over alleged meddling in the presidential election. he said james comey's leaking of discussions with president trump was strange, but he was prepared to offer the former fbi director the same as highland deal he gave whistleblower edward snowden. putin addressed the new sanctions approved by congress. >> there is nothing surprising. now we know that in the senate of the united states, law has been pr

and therefore all of asia. just your thoughts on leadership in asia as the role of america. >> i'll take the t.p.p. piece. we can talk about north korea. that's a moreably cated dynamic as it relate -- more complicated dynamic as it relates. the u.s. withdrawal from the trans-pacific partnership again, as was indicated in the survey results, devastating to perception it's of the united states -- per essentials of the united states -- perceptions of the united states. ely: the reason why that matters, there's a growing perception in asia that the future of the economic order will be china-led. it will be china's rules, china's institutions. multilateral or informal that will be convening the region and determining its course and the trans-pacific partnership was the best mechanism to provide an alternative to that. the reason it matters primarily in my view is not just because of the economics of the effects of the trade deal. in fact, i think there are questions about how pronounced that would be. but because t

policy in asia. the third peas, i think the principle critique of the trump ofinistration today in terms criticism has been the transactional nature of the way the president has talked about his approach to asia. very focused on north korea. saying, what am i going to do, start a trade war? before a call the president of taiwan again i will have to check with the president helping out in north korea. lots of rumors about navigation operations because of desires to lower tensions with china because they are helping on north korea. as someone who has worked on this issue for many years now, i think many would agree that is exactly the wrong approach. with the united states should be being firm across the board rather than somehow signifying that the united states is for sale. the chinese will have done somehow groping the united states right around that. i think the united states has to take more risk in asia. there is a perception -- again -- not war which it we should be conscious of but there is a c

and therefore all asia. just your thoughts on leadership in asia and the role of north korea. >> i'll take the question on tpp. i would say the u.s. withdrawal from the transpacific partnership, again, as was indicated in survey results was devastating to the perception of the united states. and we'll see it in the survey i'm sure, there's a growing perception in asia that the future of the economic order will be china led. it will be china's rules, china's institutions, multilateral or informal that will be convening the region and determining its course, and transpacific partnership was the best mechanism to try to provide an alternative to that. ask the reason it matters in my view is i think there's some questions on how pronounced that would be. but because the lack of leadership on this issue, the lack of the united states convening together starts cascading into other sets of issues. so if a country -- let's say a country in southeast asia perceives the u.s. is withdrawing economically, that their eco

that is it for us on "daybreak: asia." time for a look at what is coming up on bloomberg. -- bloomberg's george clooney, right? again.r do that oil prices, of course. that is what we are seeing right now, a cantankerous situation, which essentially means we have got -- we are going to discuss all this with a wells fargo global economist. it seems like the path of least resistance right now for oil is essentially to the downside. we have breached 45 for brent as well. yvonne: they are saying 30 for wti. geopolitical tensions changing the house of saud as well, not really impacting. what else have we got coming on? haslinda amin is in bangkok. yvonne: she just did a great interview with the president of the stock exchange. rishaad: we have got the thai industry minister, talking to him about their infrastructure push. they have airports equipped to take 35 million visitors per year. they want to get that up to 90 million, so that will cost a lot of money. we will ask how they do it. we do have haslinda doing that. we will be

leading thehe kospi drop in asia, down must 1%. the won affirming its diversions from the yen, 110.23 of dollar. we did get data out of japan showing machine orders slumped in april, so we are seeing a reaction in some machinery makers in tokyo. several falling this morning. makes a aircraft jet engines and agricultural machinery with a small rise of 3%. the outperforming sunrise stocks are succumbing to that regional drag. heavyng in on the tech taiex in taipei, trading near a it isr high, but today dropping for a second straight day. stocks falling over 1.5%. may did turn out to be a tough month. rishaad: thank you for that. let's talk about a man who did not have a political party a and now he is president and the political party has done well in the elections. >> french president a manual macron seems headed for a landslide in the legislative election as voters rally around their leader. will take a third of the vault, which would result in winning 450 seats in the 577 seat national assembly. healthy majority to push through ta

good morning asia. hello world. it is a wednesday. glad you could join us for asia business report. i'm rico hizon. we start the programme with another global cyber attack, which we discussed newsday. computer systems in ukraine, russia, the netherlands, france, and the uk and denmark have all been affected. when a computer is hit, users are told their files have been encrypted, and they will have two pay to get them back. here is more from our north american reporter, dave lee. we just from our north american reporter, dave lee. wejust had from our north american reporter, dave lee. we just had the wannacry attack. and many lessons were there to be learnt. many of you not have heeded them. in the us, several big firms were affected, and as you said, it is spreading across the world in a dramatic way. i am joined by andre mcgregor. he is a security expert. what can you tell us about this attack? the world is experiencing a global ransomware attack that has crippled companies across several industries. you look at mersk, they are reduced to working on pen and paper to conduct their b

am haidi lun in fourth time lucky for msci asia?/ governor kuroda and the boj decision over the next hour or so, not expected to tweet, but watching language. get it over to david. .25%.t, hang seng the story of a cross currency markets, a strong u.s. dollar. , but have ahere look at the kiwi dollar. theme browse through function here, a strong dollar story. back to levels for the pound this time yesterday. aussie dollar leading the strength across the g10 space. sterling, there we go, .1%. all things equal, not big moves. hang seng index, better by 19 points. 26,150 five was that resistance level we did not breakthrough. tencent very much in focus. the boj are big story for the next few hours. on your terminal, the boj decision, this chart here at the bottom, one of the better charts on inflation that tells you how far the boj is from achieving their targets, and do we have to aboutr consider how we go the exit. you have the boj forecast not quite there. this is where the market thinks it will be, and that is where it is, very inte

we have got plenty more to come on daybreak asia. this is bloomberg. ♪ ♪ this is daybreak asia. investors --y of on investors' plates. we will have it all on daybreak ina, a big week in toshiba particular as we see the race entering the black lab bid. a winner could be announced as early as this wednesday. we are told a group led by baincapital and aj have offered $15 billion, slightly less than the billion -- then the u.s. chipmaker broadcom. so the big sticking point remains whether this company or the chip unit can stay in japanese hands. what's like with incj and baincapital, that will get the green light from the government. we see about the swings in toshiba, very volatile. with the news out of whether it the be on sale, obviously news could be broken dn as we. one of the most extreme movers really so far outweighs the rest of the nikkei market. i guess as we alluded to the development and who is with the connector business, the pride tool of toshiba for the week as well. you stayed with this company, you will be rewarded when the volatility -- it seems to be the. -- this

and resources to asia was saying asia as the future or a future if the united states continued its now 70 year plus project to try and expand a liberal order in the world. i think the promise and importance of that nature is perhaps more than anywhere else in the world. what we see in this data is that there is still opportunity there to work on some of that. i think the other, at least from a perspective of the nature of the china competition, i think the very negative views of - were striking. i think a lot around the world hoping that this does not make its way to beijing because they are spending billions of dollars trying to improve their statement propaganda, and i think this tells you is not working. and so whereas yes, donald trump may be particularly favorable, the alternative is not rating very high. i think matters in terms of opportunities for the sp that's the good news. the bad news of course is what lurks behind the figures.the questions here were about various policy issues and there is diversity in the region. you know what's worrying the south koreans is not what's wo

you are watching daybreak asia. the white house says president trump will not use executive privilege to prevent former fbi director james comey from testifying to congress this week. comey is likely to face questions about conversations they had on investigations into in the russian meddling election did many experts say it is not clear if the president have grounds to evoke executive privilege in this case. >> the president's power to evoke executive privilege is well-established, but in order to facilitate a swift and thorough examination of the facts sought by the senate intelligence committee, he will not exert executive privilege regarding the testimony. the top u.s. a gig -- nina: the top u.s. representative in china was the most -- we are told he quit this past weekend, telling colleagues he disagrees with the president's decision. the state department confirmed has gone, but we do not why. the bank of thailand says it is easing some foreign-exchange walls to reduce private sector compliance costs. the bank

that is from europe to asia. rishaad: is that a function of the asian economy getting better, or the europeans are becoming more competitive? >> both. the european currency, the euro is relatively cheap compared to the u.s. dollar, so a stimulus for exports. on the other side, the asian economy, especially china, the consumer, the manufacture, they have come up quite strongly. rishaad: very quickly, last time you were on was in the midst of hanjin in its death throes. you said this was the lehman brothers moment in shipping. it wasn't as bad as that, was it? that time, butt things have changed and shown the resilience of the industry, like the american financial industry. , and right nowck the man-supply is in a good place in terms of equilibrium. we are looking very good for the next 3-5 years. you look at the over all new vessels coming for deliveries, up 45%,nd come increasing on an annual basis, so a pretty good situation. we have become much more optimistic, and the turnaround has come faster than we thought

this is "bloomberg markets: asia." ♪ haidi: asia-pacific markets put the brakes on text global slump, but the benchmark is led higher by sydney. rishaad: investors looking ahead to the decision from the federal reserve.

asia, africa, central asia, there are areas where money can be deployed. the equivalent of a marshall plan requires not investment, but giving money away in order to enable those countries to pick up productivity. right now it is china, one belt, one road program. relativelyllish selfish but nevertheless enlightened marshall plan for those areas. angie: these countries do need to pay it back at some point. >> they will never pay it back, and china knows this. just like the marshall plan was never supposed to be paid back and was not paid back. this money will not come back to china. to overt is do you want invest in your domestic economy and see further collapse of returns within china, or would you rather invest in areas that potentially have higher returns? the other issue is the geopolitical and social risks. if you don't build out those areas, they will come home at some stage. ,hrough immigration, terrorism all sorts of stuff will happen. there are two incentives, better allocation of capital and geopolitics. to giveery quickly just it, hong kong bond

good morning, asia. hello, world. thank you forjoining me for this friday edition of asia business report. i'm rico hizon. as we told you on newsday this weekend marks 20 years since hong kong saw the end of british colonial will. chris patten was the last governor of hong kong, which is one of the major financial hubs of asia. my of the major financial hubs of asia. my colleague asked him if he is concerned about the future of the economy under china's growing influence. my biggest worry about hong kong wasn't that the tanks would roll in from the north but that hong kong would simply become the richest city in china. i don't think that is going to happen so long as hong kong can hold onto the rule of law, independentjudiciary and all of those things. they are crucial for business. and all of those things. they are crucialfor business. even and all of those things. they are crucial for business. even some chinese businesses feel they have to go to hong kong to sign contracts with one another because that way they can

or in the asia pacific? >> i think that's the whole question about collective security. i mean, it really does show the predominance in agreement where they can defend themselves from an armed attack and also something that we've been talking about which are hybrid attacks and these are ways of trying to find common ideas which would make us find common goals. >> it's difficult, for instance, having just been and i've just been in georgia and ukraine. they are not members of nato or the eu, but they are kind of have affiliated members and that helps them, even, and the hope that they would be a part of it and you were talking about democracies, it gives a sense of confidence to democratic legislators within their countries that if they moved the process forward in term of value systems that they could be a part of a club that really reflects those kinds of values that then leads to a liberal world order. so it builds up. >> i'll take us off topic for a minute, but i think it's worth exploring. certainly over

policy in asia. my personal critique of the trump administration to date as it relates to asia has been the transactional nature of the way the president has at least talked about his approach to asia. very focused on north korea saying things like, what will i do, start a trade war? before i call the president of taiwan again, i will have to check with president xi. because of desires of lowering tensions with china with north korea, as someone who is worked on this issue for many years now, i think many who have would agree, this is exactly the wrong approach. with the united states should be doing is principled and firm across the board, rather than signaling the united states being for sale or owing to trade up its vital interests. the chinese will have roped the united states around that. i think the united states has to be willing to take more risk in asia. there is a perception, not to the point of tripping into war, but there's a perception of china being very firm. having core interests that

and therefore all of asia. just your thoughts on leadership in asia as the role of america. >> i'll take the t.p.p. piece. we can talk about north korea. that's a moreably cated dynamic as it relate -- more complicated dynamic as it relates. the u.s. withdrawal from the trans-pacific partnership again, as was indicated in the survey results, devastating to perception it's of the united states -- per essentials of the united states -- perceptions of the united states. ely: the reason why that matters, there's a growing perception in asia that the future of the economic order will be china-led. it will be china's rules, china's institutions. multilateral or informal that will be convening the region and determining its course and the trans-pacific partnership was the best mechanism to provide an alternative to that. the reason it matters primarily in my view is not just because of the economics of the effects of the trade deal. in fact, i think there are questions about how pronounced that would be. but because t

strategy in asia has to be comprehensive. right now, the trump administration is talking about peace through strength, dual carrier operations in the east china sea, one person will be giving a big speech at shangri-la. it will not cut it. no amount of u.s. power will resuscitate american leadership and revive american interest in the face of this challenge. that has to be an economic components, institutional component. as long as countries in the region believe that china is the future economically, our military will not stand that perception. whether there it is tpp or something else, there has to be a major economic trade initiated for it. my personal critique of the trump administration as it relates to asia has been the transactional nature of the way the president has talked about his approach to asia. very focused on north korea saying things like, what will i do, start a trade war? the president does one again -- president of taiwan again, i will have to check with others. because of desires of lowering tensions with

welcome to asia business report. i'm sharinjit leyl. most americans have never even heard of alibaba even though it's a household name right here in asia, so the giant has gone to detroit's. it's a first major eventin to detroit's. it's a first major event in the us since it debuted on the new york stock exchange two yea rs the new york stock exchange two years ago, but the challenge is both to introduce and convince americans to introduce and convince americans to use the platform. alibaba has to use the platform. aliba ba has come to use the platform. alibaba has come to america with a bang. the chinese commerce giant is here to show businesses what the company is all about and how it can bea company is all about and how it can be a gateway to the chinese market. the harder sell of course will be getting american consumers to do their shopping with alibaba. when i asked mr ma, he said that wasn't a concern. when we think about selling alibaba products to americans, we are thinking about selling american small business, global small bu

asia and korea. what i argue in this book is that it is not that china completely abandons this idea of itself as a middle kingdom, it was to be respected and admired and emulated and yes, even looked at as a big brother. the difference is that there is no formal difference. they are not going back to the old tributary relationship with north korea or north vietnam. especially at the time, north koreans were very sensitive. they had this notion of saturday, serving the great. the chinese were generally aware of it. it is complicated. there are times where you read things that they said and he seems to want to lord it over his allies in asia. there is also other instances. this is one of the things i'm working on now in my work on china and north korea. i'm actually arguing that a sign of north korean relations were a lot that are an closer than many historians have made them out to be. the conflict between the two has been overstated. you will have to wait another six or seven years for that one. afr

in asia, the story to talk about is oil prices. the questions are reminding test remaining over the debt. we are also having a chat around various commodities with our first guest. he will be in in 10 minutes. julia: let's get a test betty: let's get a quick recap of how we ended friday. pretty mixed right now. onhave been keeping our eye textures, they rebounded. will they go into the week with selloffs that we have seen in the past? lots and lots of news events happening as well as economic numbers. , they in washington meeting between trump and narendra modi, lots of economic numbers as well, including durable goods. paul: it was a tactic into the end to the u.s. -- tepid the week in the u.s. looking at asia and new zealand, it is off 0.1% for the dollar. the dollar is a little weaker against the u.s. dollar as well. futures are pointing up, three points, flat. the aussie dollar slightly weaker. that new zealand-australia cross rates close to parity. that story will be coming up again. a gain inng a bit of the last session, but

you are watching "daybreak asia." main suspect in the north london mosque attack is being held on terror charges. he is a 47-year-old father of four. he is thought to have acted alone. one person was killed and several others were injured when a van drove into pedestrians. that happened shortly after midnight as local muslims were breaking the ramadan fast. president trump condemned north korea's brutality after the american student release from prison died. said no other outcome was possible. the student was jailed for 15 years for our labor after admitting to trying to his deal a up again to banner. propagandao steal a banner. sean spicer might be in line for a new job. he has been president trump's spokesman since the beginning. may moveay officials into a senior strategic role and bring in a new press secretary. administration also needs a new communications director after the last one quit. facebook says it another tech duty tosaid -- have a work together to prevent the spread of online hate. says operating offic

there has been close to 6% growth in asia projected by the adb. even with higher us interest rates 01’ even with higher us interest rates ora even with higher us interest rates or a higher borrowing cost, asian companies ago to make money this year based on local economic conditions, and given that the other plagiarist generally positive, the fa ct plagiarist generally positive, the fact that the us raises rates by a small amount, or later this year, fact that the us raises rates by a smallamount, or laterthis year, is from ali to have the monumental impact that some of the pundits tell us. “— impact that some of the pundits tell us. —— given that the other forecasts are generally positive. so much of the growth is based on local economic conditions. even with high rates, us growth is generally good, so on rates, us growth is generally good, so on the export side, if the us is growing, that is good for asian exporters, and domestic me, for companies that make money to local market selling products and services locally, the outlook is goo

we have the world covered on daybreak asia. we go to watch the developments out of beijing as chinese mostators watch the prolific overseas dealmakers. and we are watching the e.u. summit in brussels throughout the morning through this is daybreak asia, coming to you sive from bloomberg' asian headquarters. i am yvonne man. betty is that the wharton global conference. a very busy friday and a happy one as well. yvonne: we are marking the one-year anniversary of brexit. we have the stress test, keeping an eye out on china as well. first it was anbang, but regulators could be targeting other companies. a lot of big guests on our show with betty. starting this hour, geoffrey garrett in 40 minutes time. on bloomberg markets, betty will be speaking to the incoming chief executive of hong kong. her as have to talk to we start next week, marking the anniversary of the handover. you do not want to miss betty's chat with tom friedman at 10:40 a.m. hongyou do not want to konn sydney. look at markets trading in the asia-pacific. it could

asia." we are live from bloomberg's u.s. and asian headquarters. it is just after 7:00 a.m. in hong kong. some breaking news crossing the bloomberg. south korea current account balance coming in, shrinking for dollars, a9 billion dramatic drawdown from may, close to $6 billion, also revised down to $5.7 billion. that surplus is widening as well , close to $11.9 billion. there are signs the south korean economy is doing well. exports rising coming inflation picking up, so we will see how korea reacts in about one hour. those meantime, devastating attacks in london over the weekend, days away from the u.k. election, so we will see how this will impact the outcome. will terror dominate what happens on thursday. bull in thed to be a market knowing so much uncertainty lies ahead. check out equities futures, how they are trading right now, this is the market close on friday. the futures right now are , ading a little bit lower touch lower, not a lot of volume on a sunday evening. it is an indicati

are looking at asia? is that something the msci will still be concerned about? raymond: i think you are right, actually. it is very much a retail driven market. technicals may not be that helpful. if you look at the fundamental part of the story, the corporate in the china a market have proved they deliver better earnings, they deliver better cash flows, and we have seen some of this. the, which should be beneficial to the cash flows. we argue this is better. if you look at the valuations of the shanghai market, because of years ago, theo valuations now look a lot more attractive than before. that is what i would say. haidi: what about some of the fund flow issues? repatriation, the use of being able to repatriate funds is one of the reasons they are not good enough to be included the third time around. do you think they will make progress on that? raymond: they have to make more progress on that, no doubt about it. the fund flow is very important. people put money in, they need to get the money out. i ex