definitely be beneficial to asia. alsof asian economies -- i highlight a significant portion of the oil price is likely to be on the demand side. the fact that global growth is going down dramatically compared to what we were expecting two months ago, and to the extent that is the case, that can be positive for asia. some of these export oriented economies will be hit. on the monetary trade policy front, it is a most a double edged sword. will enableall central banks to cut rates, but remember right now that core cpi in particular is at one of the worst levels post financial crisis. a number of economies have hit cpi near zero or in deflationary territory. some of the central banks have policy rates which are already near the effect of lower bound. bound.ctive lower what this means is has inflation for's further, it will be -- falls further, it will be difficult for central banks to get into negative territory, which means they will resort to unconventional policy measures going forward. haslinda: you talk about how c

the senior asia economist. the cleveland -- two focused on limiting damage to financial markets and the economy to be concerned its actions will encourage excessive risk taking by investors. while the fed is moving into unprecedented territory, it is trying to help companies impacted by the virus through no fault of their own. in a real unprecedented, incredibly deep shock to the economy. we could really use tools as best we can to get us through this pandemic shutdown, mitigating the negative impact on the economy so the recovery can be as best as it can be we get to that point. we are moving into unprecedented territory, but we are trying to -- impacted by the virus. we are going into it for example, corporate debt, which we have not done before. we will include fallen angels that have investment grade rating before the virus hit. you are right, we are doing things we have not done before, but at this point i don't think we can be that concerned about the moral hazards. we have to look at, this is a hugely im

tonight he will be speaking about the intended trilogy of the asia pacific theater that is called tower of schools. volume one july 37 through may 42. it's my pleasure to call my friend to the podium. richard frank. [applause] >> thank you very much. thank you to the museum so one of our traditions is we like to tell stories. graduating from the united states naval academy in 1841, was a survivor of the uss arizona and awarded the navy cross for his heroism in 1945. and finally he says tell us about your days at the academy. actually i did very well. i was very strong in math and science. but my downfall was english. my parents were jewish. we lived in france i spoke french and then we moved to new jersey but they don't speak english they are. [laughter] so this is something we don't speak about which is the trilogy we have been talking about the asia pacific war. one of the greatest stories in human history that touches the estimated two.3 million human beings that is a long time arc of the trilogy how those events formulated what happened with all of these other nations which is now s

well we had to asia now where the i.m.f. says that the asia pacific region will experience 0 growth this year for the 1st time since the 1960 s. due to the massive economic damage caused by the corona virus the new report warns that the impact in asia could be quite severe across the board and unprecedented massive drops in industrial and retail activity a major supply chain disruption and a huge collapse in demand from europe and north america have been felt across the continent since the start of the year is very unclear and couldn't from business who's covering the story for us i mean it's quite clear the coronavirus having a devastating effect economically what are the biggest factors for the i.m.f. shaping the outlook in particular in asia well i think when we look at there's no good time to have a global health fund demick but the timing in this case was particularly bad because asian economies were already slowing down because of the u.s. china trade war on economies were slowing john. early january has the i.m.f. sai

if you take the other part of asia that japan occupies mostly after december 1941, it's about half as many about half of the time and works out 4,000 deaths per day so by the summer of 1945 approximately 8,000 nonjapanese noncombatants dying every day and who knows, 15, 16 million have already died when we get to that point in the war. so what i'm doing with this trilogy is attempting to write back in to our standard narrative a billion people, about 85% of the deaths or more in the asia pacific war which is 20 million people which is total number of deaths and also tieing those events to where we are in the 21st century. now i like to think i would be gracious in answering questions, queries, even challenges to my work, but the one thing to which i will not respond quietly is the charge that i lack ambition. there are four features of the trilogy that are also present in this book, the first of which is most essentially a work of synthesis, putting the best scholarship literally all over the world being guided to wonderful group of colleagues i met over the years who frequently are t

asia reversing earlier gains. looking for clear direction, not quite getting there even as some economies talk about reopening. oil plunged 25% overnight in the u.s., w.t.i. down to $10. the nicole briscoe is down .2%. dragged bounty. the hang seng up by .6%. they have yet to decide if social distancing measures will be extended. are keeping an eye on hsbc, due out with earnings in 30 minutes. they have scrapped dividends, shocking investors. if hsbc is no longer a dividend play, it won't be so popular among retail investors. hsbc shares have lagged behind in five of the past six years. flip the page. take a look at where we are in terms of the indian market. we are waiting for the open. the news out there is revising down its economic growth forecast to-on-08% for the year, down from 5.% earlier. they opened higher by .9%. >> we have seen stocks on wall street going higher here on he hopes that lock-downs to eventually be relaxed in the u.s. and europe. what we have continued to see is a continuing rise in virus

asia is no exception. we have seen a significant slowdown in consumer spending behavior just with the nature of the lockdowns. on the backdrop of that, we delivered a strong first quarter. is more thanhat is -- what we are focused on in the asia pac region is investing heavily and creating more diversification in the revenue pools of analytics, cyber intelligence. i think that is the story for us in our first quarter results. islinda: the story ahead about an economic slowdown. how concerned are you about payment defaults among your customers given unemployment is rising and growth is easing in a big way? ari: from a mastercard standpoint, this is for our banks who are focused on risk management, making sure credit portfolios are performing well. they are making sure recoveries and collections -- that is a big priority. mastercard, we don't take any of that balance sheet risk. we are in the transaction business. we are moving money from point a to b. if you look at that, our view is , yes, at the current t

to be ahere appears divergence between north asia and southeast asia. take a look at where the korean won is right now. consequently trading in a pretty narrow range. the question coming from the volatility in oil, yvonne. yvonne: taking a look at the rest of the markets you mentioned about them entering the bull market, if we continue the way things are, one of the last regions to enter the bull market territory, but you are looking at the likes of emerging markets, which are also doing well. the dollar is on the back foot. u.s. futures punching higher, north of 1%, ahead of that that decision. a lot of clues on what we could get in terms of clarity for the fed now that they launched this bazooka. nifty futures slightly positive. we have seen also about a 20% or so rise from the march lows in india, but keep in mind, we reached that record high back in january. we are still 20% lower from those highs as well. take a look at what else we are watching in terms of oil because it continues to be these wild gyrations and wti as well as -- in brent as well.

and japan and this war across the ark of asia. but the third thing that characterizes this war, there's wonderful quote from president franklin roosevelt used as a epigraph and he was asked by his ambassador to japan in december 1940 for guidance and how relationships between the u.s. and japan should be conducted. president roosevelt said the fundamental thing to remember is that events in europe, in africa and asia are all part of one global war. and what i have tried to do throughout this narrative is to be looking back and forth to what's going on in europe and what's going on in the asia-pacific region to show where they do or do not affect one another. the final thing about this is although colonel jim miller treatment provide the basic skeleton of this whole thing, this narrative branches while out from that into political, economic and social effects of the war because those are so critical as to how we're going to get to the story of how we ended up in in the 21st century in this region. what i would like to do tonight is

north asia's head and shoulders above south asia. also in terms of earnings outlook as well. looking at fiscal policy, how much room there is for north asian countries to respond to this. north asia looks more attractive to us. within that, some of the domestic sectors in china is also interesting. i think that is important. where case numbers are heading and north asia starting to cp can numbers. quite comfortable in investing in china. start looking at hong kong and taiwan at this point. shery: not to mention that china does benefit from cheaper oil. we have heard beijing trying to stockpile on those oil surprise given how cheap oil is. this translate to asset valuations? will this transfer to asset prices in china and where would you look? is it still the consumption story? most countries in asia are going to be beneficiaries. we have an extreme level. arerally, low oil prices beneficial for most of asia. china as one of the best places for that. issuesas a host of other to deal with. ultimately, that will be a benefit for china. if you look at what they have been doing, i

most notably for southeast asia. the indonesian central bank confirmed it has access to this latest fed repo line, which when it was announced, really helped ease some of the pressure the currency was seeing. the other countries you cover in asean, which economy is the most worrying, or the one that is most imperiled? >> the way i would frame this answer is really in terms of understanding how bad the outbreak is in the region. china, northin asia, went to europe, the u.s. in most of these regions, we have passed the worst. starting to see some kind of improvement. for most countries in southeast asia, we don't know how bad it is, because testing has been insufficient. per 1000of tests people, indonesia is at 0.1. in the u.s., which has been ramping up testing, the number is 8.5. we don't know how bad it is. from a covid-19 perspective, indonesia is one of the countries where we are seeing relatively strong increase in the number of cases. as they wrap up testing, we expect the number to get worse. is one areanesia w

plenty more to, on "daybreak asia -- plenty more to come on "daybreak asia." this is bloomberg. ♪ haidi: let's get the latest when it coast to japan's industrial production numbers. anstey is in tokyo. your takeaway from these latest numbers? chris: these march numbers, you know, coming in as expected, or in the case of industrial production, not as bad as expected. they do underscore that the first quarter is going to be another contraction in gdp. that would be the second in a row after the sales tax because to gdp to decline in the fourth quarter of last year. all in all, i think policymakers, you know, may happy that they did not come in worse than they did. the key thing will be, of course, what the second quarter looks like, and there, we know the emergency declaration of japan over the coronavirus was declared in april, and right now, the governor of tokyo is asking for an extension deeper into may and even talking about fines for stories that stay open so there is a bigger hit to calm. when government and the boj have done plenty. could there be even

and we have now from germany to asia where the i.m.f. says that the asia pacific region will experience 0 growth this year for the 1st time since the 1960 s. due to the massive economic damage caused by the corona virus the new report warns that the impact in asia will be quote severe across the board and unprecedented massive drops in industrial and detail activity major supply chain disruption and a huge collapse in demand from europe and north america have been felt across the continent since the start of the year is very unclear and couldn't from business who's covering the story for us i mean it's quite clear the coronavirus having a devastating effect economically what are the biggest factors for the i.m.f. shaping the outlook in particular in asia well i think when we look at there's no good time to have a global health fund demick but the timing in this case was particularly bad because asian economies were already slowing down because of the u.s. china trade war and economies were slowing generally marie who's the i.m.f. said co

this is bloomberg. ♪ haidi: mizuho securities asia says government ownership of many of asia's oil and gas companies mean they are in a good position to ride out the collapsing oil prices. let's get more from the mizuho securities asia head of fixed-income research. great to have you with us. give us a little bit more perspective of what asia energy companies are looking at as we see the collapse in oil prices. how exposed are they, and what about the smaller private companies? of, i guess, the impact of oil prices on the sector in asia, it seems very bifurcated paired on the one part, you have the large oil and gas producers. they have solid access to funding, solid balance sheet. i think they have got enough liquidity and flexibility to ride through this period of weaker oil prices. on the other hand, you have the producers that are far more vulnerable. they are starting to reflect some of that stress as well. i guess from a regional perspective, it is important to take a step back and say asia is an importer of oil. though oil prices are not a bad thing for the region, certainly whe

welcome to "daybreak asia." opec and its allies finally agreed to new curves but the market is not a inquest. crude struggle to gain since investors fear the deal will not solve their problems. the u.s. has the highest number of virus deaths in the world amid talk of reopening parts of the economy next month. almost 2 million people have been infected worldwide. they: the virus triggered worst downturn since the 1930's. the global economy faces a new reality of shattered economies, collapsing trade, and mounting on women. japan and south korea coming online. that's get you started with a quick check on how the nikkei and japanese yen are trading. really coming down from that two week high. we have seen the japanese yen hold steady in the last few sessions. this as we had most of or many of the asian economies away on holidays. japanese yen the moves ground, gaining ground against the u.s. dollar. the topix down 1%, this coming out a time when japan has now announced a series of fiscal stimulus measures. take a l

give me your perspective from asia. you know that part of the world so well, not just immediately what will happen, but what are the longer-term consequences of this pandemic? parag: it is a good question. great to be back with you. say wef all, i want to are moving into a great divergence. north america will have a different shape to its recovery than europe and the euro and asia. asia is starting to open up already. china is going into a travel week where 85% of chinese travelers will remain domestic. positive impact on china services market. i was on the phone with the ceo --a travel company saying because of the lockdown, the contact tracing apps and so forth, asian societies will have more confidence that they reopen. and incrementally could open more in terms of travel and so forth. largely what we are seeing is although some markets will take malaysia,it -- thailand, indonesia. countries like vietnam and the philippines will continue to see strong growth. -- haverkets are well become more and more integrated. as

a sobering mood here in asia. this continuation of the mood we have overnight with all three major u.s. indices falling. the i asx by 3.7%. banks in this part of the world weighing the most. , aussiehe rbnz ruling lenders want be getting dividends from their subsidiaries. we are watching the kospi, giving up earlier gains as well. a pretty tepid read for march inflation continuing to paint a picture of dampened economic activity and the slump across consumer demand as well. , we are of the bok further away from that 2% inflation target. very little room for the bok to do more in terms of rate cuts. taylor: we will take a look at what that means as some of the u.s. markets wake up tomorrow morning. you can see the futures up on the 1%. we had a pretty bad day on the wednesday session, closing down more than 4%. 10 year yields holding in study. a pretty big rally. listen to this. we are down 132 basis points alone on that tenure for the yield. it's incredible, the demand for a full faith and credit for the 10 year.

also coming up a gloomy economic outlook for asia the international monetary fund says there will be 0 growth in the region for the 1st time since the 1960 s. because of coronavirus and surviving the coronavirus in the slums of nairobi they are short of food and social distancing doesn't mean much in those cramped conditions. i'm sorry kelly walked into the program germany is preparing to gradually reopen its schools and allow smaller shops to resume business but many restrictions will remain in place as the fight against the coronavirus pandemic continues chancellor angela merkel said that germany's efforts to contain the outbreak have been partially successful but that the situation remains fragile. it's been 3 weeks and chancellor angela merkel announced the initial restrictions on contact now they're being largely extended social distancing rules will remain in place until may 3rd groups will remain limited to 2 people and at least 1.5 metres must be kept from others from may 4th the schools will gradually reopen 1st for school leavers in primary and secondary education day care

and in asia is significant. it is absolutely required. we are facing a significant slowdown from a demand perspective, and that will have profound implications of companies, employment, particularly within the u.s. and the u.k. today. and the economy will have to be supported through this. from a european perspective, coordination is going to be is likely to more be required from a stimulus perspective. particularly in those areas most impacted, italy, spain. this does bring to the fore the question of eurobonds. are we goingrall to see a more coordinated response? are we going to see any significant movement or is it a breaking point for europe? is going to bet a testing time for europe. i do not think a breaking point. with all of these things, these crises can bring people together more, and hopefully that will be the case for europe. , thef the positive things cost of borrowing is limited. there will be profound long-term implications in terms of what happens, whether we see debt forgiveness or meaningful changes, and potentially some

mainly with people and disregarding social distancing blasts is it time for change in the food stalls of asia a month on from the pandemic declaration we visit the markets blamed for the violence. thank you for joining us one month on from the corona virus being declared a pandemic the world health organization is warning countries not to become complacent as a global death toll surpasses 100000 the head of the w.h.o. says lifting restrictions could lead to a deadly resurgence more than 1600000 people have been infected since the outbreak was detected in china late last year the current hot spot the u.s. has reported its highest single day toll 2108 deaths half a 1000000 americans are infected with the virus the hardest hit state new york is conducting mass burials but there is a glimmer of hope across europe as it's lead germany spain and france have seen the rate of infections slow down. now even though the u.s. has recorded more deaths than any other country in one day president trump believes the death toll will be noir than what experts are predicting we're seeing hospital admissions dec

plenty more on daybreak: asia. this is bloomberg. ♪ shery: welcome to "daybreak asia ." i am shery ahn in new york. i am haidi stroud-watts in sydney. we are counting you down to asia's major market opens. let's get you our top headlines this hour and protesters are calling for the u.s. to reopen. they warned that might cause even more harm. the world health organization says the worst of the virus is still to come. the pandemic is crippling demand for energy. oil recovered from a

haslinda: much red across the board in asia. disappointment that the virus drug test went badly according to one report from the financial times. claims exceeding 26 million. trump saying he may expand social distancing measures to the summer. europe sent to shrink as much as 15 rep -- 15%. looks set for a recession. plenty of data to digest for the market. let's look at the csi 300 execs -- index. to pboc cutting the rate 2.95%. there were talks yesterday about another policy easing soon. there we have it today. the china 10 year bond futures rising on the back of that. the taiex currently down by 2/10 of 1%. t mnc will build the new mac chip. apple is working on its own mac processes. it will be faster than the processors in the iphone as well as the ipad. the benchmark in new zealand currently bucking the trend, up a marginal 1/10 of 1%. rishaad: absolutely. getting more details on that. the pboc acting in order to show sufficient liquidity in the system. injecting merely a billion dollars worth of you want into the banking s

asia."e to "day break our top story, president trump sees america headed back to work in the next month. futures are being lifted by the news as well. he boeing is ready to resume production. oil had a volatile week to nd at its lowest for two decades, increasingly weak demand. considering even deeper cuts. the imf plans to open unding to the world's poorest nations but the u.s. treasury isn't happy saying special drawing rights is way to go. >> let's get a quick check on the markets. marks eeing japanese coming online. the japanese yen holding at about 107 level. of course, we've seen the in the yen weaken last two sessions against the u.s. dollar, but the yen could actually climb towards a hundred against the dollar in the next few months. f course, we have the safe haven bids as we continue to see the coronavirus outbreak around the world. japan expanding its state of emergency. look. south korea coming online. we've seen march numbers ent rebounding at 3.8%. drop for the a month of febru

>> we see a lot of green in asia. lining is that we have not yet officially reached the community spread phase. overall investors are looking to when the virus will be peaking. there was a ban on exports of the drug president trump said was a game changer. how will this play for the pharma sector in india? as of now the two drugs are on the restricted list. -- the government has to look to meet the demand. the virus started spreading in india in march. it will be a diplomatic exercise , and interesting if india agrees to allow this anti-malaria drug to be exported to the u.s. they have to assess the requirements locally in india, then they will take the call. tom: are there measures there to support the economy? >> there has been constant dialogue with different states and stakeholders in this process, and we are in the process of trying to have a plan. i would like to point out india for about 21own days. we have a week to go before the lockdown lifts. the lockdown might not be lifted immediately. resumption of busin

this is bloomberg. ♪ haidi: "bloomberg daybreak: asia." "bloomberg daybreak: asia." ins is shery: i'm shery ahn new york. u.s. secretary of state mike pompeo was calling for china to be more transparent about the coronavirus as the world continues to battle the pandemic. it comes amid mounting frustration in europe over beijing's handling of the outbreak. tom mackenzie has the story. is this just a further escalation? latest withst the the trump administration taking china to task over what it calls a lack of transparency. >> the ccp still has not share the virus samples from inside of china with the outside world, making it impossible to track the disease's evolution. making illegal determination here today that the world health organizations regulatory arm clearly failed during this pandemic. tom: mike pompeo saying china covered up how dangerous the .isease is tos part of a continued push shift the blame to china. the administration comes under fire for how it handled the outbreak in the u.s.. and warning of the damaging risk mounting anger over what many people r

in asia trade after he collapse in contracts. the global rut triggered by slumping demand and lack of storage has frozen billions of dollars in capital spending. offering no new policies in an unscheduled video call. eu leaders open a summit this week with no clear instructions of how to finance the cover refund and no details on how they operate. it contains no financial costing, no time frames, and no vision of investment needed to stem the fallout. a tentative recovery in air travel in china is stuck at less than half the pre-coronavirus leisure trips. about 3000 -- about 30,000 domestic flights in china compared to 80,000 before coronavirus. the virus induced economic slump in japan is prompting banks toward lenders to expect investment losses. downturn ist if the prolonged, more could face solvency issues and higher credit costs. they also warned that funding -- could become unstable. global news 24 hours a day on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. mit

again but social distancing measures will stay in place also coming out a gloomy economical outlook for asia the international monetary fund says there'll be 0 growth of the region for the 1st time since the 1960 fps because of the coronavirus and surviving the coronavirus in the slums of nairobi they're short of food and social distancing doesn't mean much in those cramped conditions. hello i'm terry martin good to have you with us germany is preparing to gradually reopen its schools and allow smaller shops to resume business chancellor angela merkel announced the measures wednesday after consulting the leaders of germany 16 states many restrictions will remain in place though as the country continues to fight the coronavirus pandemic the chancellor said the country's efforts to contain the outbreak had been partially successful but the situation remains fragile. it's been 3 weeks since chancellor angela merkel announced the initial restrictions on contact now they're being largely extended social distancing rules will remain in place until may 3rd groups will remain limited to 2 people and

oil extends its slide in asia, trading

it is getting worse in some parts of asia. these are some of the parts of asia where there already have been questions lingering if we did see an outbreak in those places. can authorities handle it and to a larger extent, what would be the impact on those economies as well? seen -- two days has have seen the group of second rate countries. philippines, 230. fairly pronounced moves again in those specific markets. futures are pointing lower as well. on the backdrop of this, you have equity volumes continuing to move lower. the luster you mentioned that has gone away, volumes are 30, 40%. analysts are putting our earnest -- are putting earnings estimates -- when is no end in sight those changes and expectations are going to broaden. yvonne: looking ahead to some important neighbor data, give us a quick sense of what we are looking at. weekly jobless claim. last week saw a massive spike to 3.3 million. last week's report was for the year before that. thatwe are getting today, it is expected to be 3.7 million. ifwill be interestin

we are counting you down to asia's major market opens. let's get you our top headlines this hour and protesters are calling for the u.s. to reopen. they warned that might cause even more harm. the world health organization says the worst of the virus is still to come. the pandemic is crippling demand for energy. oil recovered from a collapse in u.s. trading after west texas futures end in negative territory for the first time ever. ups sees some light at the end of the virus tunnel. the ceo tells us e-commerce is almost thriving compared to traditional sectors. let's take a look at the oil -- let's get to sophie kamaruddin, who is taking a look at highlights for us in hong kong. sophie: the relative resiliency of the markets we have seen of late have brought several benchmarks in the region of asia into bull market territory. that will be tested in the face of this oil rout. futures.eing mixed nikkei futures in chicago while kiwi stocks are extending monday's drop. let's switch up the board to check in on -- signaling perhaps the recent o

asia's major markets just opened for trade. welcome to daybreak asia. our top stories this hour, asian signss, investors seeing of hotspots cooling as the s&p 500 closed at its highest levels in's march 13. samsung beating estimates for the virus ravaged first quarter. chip demands held up as more people are working from home. a state of emergency in japan. a trillion dollar stimulus package. the prime minister, critics say, has been slow to respond to the fallout from coronavirus. shery: japan, south korea and australia coming online. we have seen japan gain for a third consecutive session with the nikkei rising 1.7%. rising a must as much. the japanese yen under pressure against the u.s. dollar. we are seeing a stable japanese yen, about 109 level. we have seen better than japaned data out of including cash earnings and household spending. also better than expected out of south korea, the current account balance surplus coming in at a much better than expected higher number and a rebound from the previous month. the kospi, gaining around 2% is right k

could korea leave the recovery in asia? lead the recovery in asia? >> i think the whole situation is now quite unclear. i think, as i said, the government will make best efforts to revive the economy, but because of the unique nature of the pandemic, i think it is way different from the previous economic crisis for korea in 1998 or 2008, but this time, the pandemic crisis is basically shutting down the whole business activity in korea, so i think it is really difficult to expect real returns in the near future. on the one hand, government and business sectors will make best efforts to rebound the economy, but i think it will take a long, long time for korea to recover. anticularly because korea is export trade economy, and now the whole world economy is going down, i think economic performance, particularly export performance, will be severely affected by the outside situation. rishaad: with the noise surrounding this pandemic, drowning out other very important things, how much talk has there been about what is going on in north korea at the moment?

the crossing point to asia and the holy land. and almost all the world alex is called then again well above all but no death. well. and. then he. would. look so. we. have a bet that we had. a lot of even more. the crusaders who crossed the bosphorus now found themselves marching in territory controlled by hostile forces principally the muslims so jukes. a few weeks after they landed in asia minor. they fell into a well set. in a short path of the fast majority of the 20000 crusaders were slow to. you know amy at the if you had. better luck this will have. been a didn't. but while the on discipline drabble of the people's crusade were meeting a tragic end in asia minor. another wave of the holy war. the nobility of europe was gathering stronger larger and more organized on. armies that would go down in history as the 1st crusade. save humanity i really really not getting in. a policy imposed decades ago pregnant woman part that she put selectively goods and how many boards changing demographics across asia with far reaching conseq

you are watching "bloomberg daybreak: asia." standard chartered's ceo spoke exclusively to bloomberg about when the firm suspended dividends might be back, and when he sees a recovery from this crisis. >> the bank of england took the view that, given the uncertainty around this crisis in terms of financing requirements and the losses banks will take, it is appropriate to be extraordinarily prudent, despite that we are sitting with strong capital ratios and liquidity position today. the regulators have taken the view that prudence should rule the day, and i understand that perfectly. when can we get back to something like a more normal capital type strategy? banksl see the role of and helping the world recover from this tremendous shock has largely flown through. we can all speculate how long that is going to be. ability to the return to normal by the end of this year, but the economic challenge will carry on for years. i don't think that means we wait years before we manage our capital. we need to let the dust settle a little bi

haidi: we are counting down to asia's major market open. our top stories this hour -- the coronavirus marches on with the u.k. in new york reporting the deadliest days yet. however the plans are underway to open -- reopen the u.s. economy in a few weeks. automakers are reeling from the pandemic as demand plummets. we will be hearing from nissan this hour. but the city where it all began is getting back on track. china lifts travel terms in wuhan, ending 11 weeks of lockdown that disrupted the lives of millions. shery: we are seeing kiwi stocks gaining ground. we had seen u.s. stocks under a lot of pressure today. there was a lot of volatility. u.s. futures continue to fall 3/10 of 1%. we have surged as much as 3.5% in the u.s. session, but that really wasn't supported through the end of the trading day. bk futures also down -- nikkei futures down after japan unveiled the 108 trillion yen stimulus package. we have seven prefectures that declared a state of emergency. current account balance and trade balance this hour. we have crude at the m

>> welcome to "daybreak: asia." you down are counting to asia's major market open. our top stories this hour. the coronavirus passes a bleak milestone, 2 million infections. the u.s. economy has gone into defensive mode. the virus maintains pressure on oil prices, falling to their lowest in two decades as the demand for fuel continues to collapse. u.s. futures dropping below $20 a barrel. bridgewater associates says the pandemic is more damaging than the financial crisis i decade ago. we hear from the cochairman, ray dalio, this hour. shery: here is how markets are trading at the moment. we are seeing stocks continue to gain ground for the third session. we continue to see downside pressure for u.s. futures, which are down 0.7%. really accelerating those losses this evening. this after the s&p 500 already sank from a one-month high. we have seen earnings, economic data highlighting the impact of the coronavirus pandemic. nikkei futures down 0.4%. as we continue to see an appreciation in the japanese yen, which is now at a two week strength against the u.s. dollar. w

we will get a wrap of asia's situation next. ♪ welcome back. let's do a check on the indian markets. we have had the index rising for a third straight day, currently up by 0.5%. hdf see is among the biggest advancers, up by almost 5%. it was out with earnings on friday and it posed profit, despite putting aside more in terms of low-end provisions. we are expecting more earnings to come out today, currently trading up by about 2% in the lead up to the numbers later on. when you take a look at banks stock, they have surged. rose about 7%, on the year down about 34%. let's get to the latest on the pandemic, global virus cases passing 2.4 million. the world health organization saying social distancing can curb the virus. but it does not spell the end of the pandemic. yvonne man joining us with the latest. are some countries in asia beginning to relax social distancing measures? what are they seeing there? yvonne: south korea has been a prime example, where they had a lower number of new cases. only eight new cases in the past 24 hour period. that i

welcome to "bloomberg daybreak: asia." our top stories this hour -- president trump steps up his fight with the world health organization. he is holding u.s. funding. u.s. airlines take off in late trade after aging agreement on the liens of aid -- on billions of aid. a vote on the virus. south korea heads to the polls in an election seen as a referendum on president moon's pandemic performance. shery: japan and australia coming online. australia away on parliament reelections. the nikkei down 0.5%. topix also down four times of 1%. -- four tenths of 1%. significant strength for the japanese yen throughout the week. four sessions of gains against the u.s. dollar. a report saying the boj will ease corporate difficulties later this month. we have seen the stimulus package worth 20% of gdp in japan amidst cases in the coronavirus cases in the country continuing to rise. this coming on the back of more gains for u.s. markets. the s&p 500 jumping to a one-month high. we are seeing pressures for u.s. futures. taking a look at th

of pacific asia travel association on skype from bangkok nice to see you mario when we talk about and maybe you can give us the example from thailand or asia more widely when we talk about a tourism job which may be lost that can actually be any number of things can't it not necessarily something that directly deals with a quote unquote tourist. no because the india acts in terms of. revenue generated from term tourism is far wider than just actually flights and hotels and tourism activities to farmers producing food into farms to pretty tourist to consume are also affected people are running day you've been a taxi isn't it grabs the next hour of oh so affected entertainment is affected and it goes far far beyond just travel and tourism so the indirect is quite significant it's billions trillions of dollars as you mentioned before across the world that will be lost specifically in asia pacific and represents over $800000000000.00 of losses forecast of this year and as you mentioned about $49000000.00 jobs in the asia pacific region specifically and so anyone associated with the touris

they would listen people got angry with me they were like the american media was a like 45 days behind asia i have friends in saigon in taipei you who are not locked down they're going to work you know they haven't missed my daughter in taipei hasn't missed any time so this blaming china reparations you know maybe we could start at the beginning you know there's 3000000 dead people in southeast asia because of us flying off aircraft carriers in the south china sea and by i mean vietnam we could start with reparations there one 3rd of laos has so many american bombs on it they can even use it i mean let's get real and let's work together as a world here. yeah well that would be great and that would be the most important takeaway from this pandemic is to work together but what we've seen is just the opposite we've seen it's every man for himself and that's very disquieting brad let me come to you. as part of my profession i have watched a lot of american cable news and look at the manger broadsheets and number one their knowledge of china is very very poor this gives me an opportunity to plug

welcome to "daybreak: asia." our top stories this hour, the coronavirus marks another grim milestone, 2 million people have been confirmed with the infection around the world. graces on to find treatment and to allow normal life to return. woes keep piling up for softbank. the company now forecasting a massive loss for the year ending march as investments go south. shery: let's look at how the nikkei and the topix are doing right now. we are seeing some upside for the nikkei, gaining .5%. the japanese yen continues to strengthen, after we saw the best day in two weeks for the japanese yen on safe haven demand. we are getting the latest lines out of the nikkei, -- the japanese new caper -- the japanese newspaper saying softbank is freezing division its visionreezing fund 2. we're keeping a close eye on what happens to softbank as we continue to see the losses now managed to $12.5 billion as we can -- continue to see the startups backfire. nikkei saving they -- saying they have frozen their bid on two. take a look