within asia itself. betty: the trump administration is targeting exports from the u.s.. how successful are they going to be? exports and coal exports are an essential piece of the current president's policy initiatives on energy. --y have tried to reduce it the regulatory burden and make the process faster for exporters. new projects are coming online in the u.s. today. the challenge is not regulatory but economic. before they decide to build these projects and the bankers decide to fund these, they have to find buyers who are willing to buy the fuel for a long-term. it is getting difficult to find these long-term commitments from buyers because non-u.s. suppliers are selling lng on oil and x and oil is cheap. it is difficult for the u.s. suppliers to compete in the market with new supplies right now. low price thate is the key reason for demand growth? guest: the price is one of the key reasons for demand growth but there are a couple of other things happening in this market. the first is technology is

probably in totality more than the south asia floods. but, what needs to be made clear and it's really important, bbc news and bbc television news covered the south asia floods in the middle of august from about august 13 onwards. what was going on in nepal, and then the bbc south asia correspondent reported for television news on august 20 on bbc one sunday tea—time and sunday ten 0'clock news. we were in country reporting that story. we are currently in india at the moment reporting their today and over the weekend on the latest stage in these floods. nobody is denying that you are covering it but when you look rather crudely at the casualties, around a0 around a0 killed from storm harvey, we are talking at 1200 and counting in south east asia. you know, viewers say this is an immense disparity and want to know why and they have suspicions. you heard david say is it because more reporters are in the us and easier access? it is true all the american networks are going live and you can pick up their coverage very easily and at very lit

no exit strategy for asia. that is the message from uber‘s asia chief, in an exclusive tv interview. and who should take the lead in addressing climate change, business or government? we bring you a special report from india. welcome to asia business report, i'm sharanjit leyl. to asia business report, i'm shara njit leyl. we to asia business report, i'm sharanjit leyl. we will start with the riot hailing company uber, which has recently been on something of a bumpy track. a sexual harassment scandal led to the ousting of its founder, and last year it was forced to sell its china business to arrival. what about its business elsewhere? uber says it is taking an aggressive approach. in an exclusive interview, our correspondent caught up interview, our correspondent caught up with brooks entwistle, the new boss of uber‘s asia operations. up with brooks entwistle, the new boss of uber's asia operations. we just launched in myanmar, cambodia is on the radar soon. the competition is pretty tough. you have grabbed

"markets: asia standby for"markets: asia." this is bloomberg. ♪ is this a phone? or a little internet machine? it makes you wonder: shouldn't we get our phones and internet from the same company? that's why xfinity mobile comes with your internet. you get up to 5 lines of talk and text at no extra cost. so all you pay for is data. see how much you can save. choose by the gig or unlimited. xfinity mobile. a new kind of network designed to save you money. call, visit, or go to xfinitymobile.com. rishaad: it is not in hong kong. 9:00 on a tuesday evening. i am a shot. -- i am rishaad. lun, this is bloomberg markets: asia. ♪ rishaad: a start for the asian pacific. this is against a slow pace. the regional benchmark is down for a fifth day. >> the yen is falling. ov

half of which has been moving to asia. energy a nalyst has been moving to asia. energy analyst suzanne minter in denver, colorado. india's economy is showing signs of slowing, its gdp growing by just about 6% in the quarter ending injune. it is a big drop from the previous quarter and slower than the 7% expansion in the same quarter of last year. so why did it hit a three—year low? the latest economic growth figure clearly suggest that the economy is still to recover from the economy is still to recover from the cash ban decision that was introduced last year. the government banned 90 cent of the cash in circulation, practically overnight. since then, expansion plans have been affected with small and medium—sized businesses struggling. the economic figure doesn't take into account the performance of small businesses and the unorganised sector which constitutes more than 50% of the total economic output in india. these segments were the worst hit after the cash ban. it means the slowdown may be even more severe than the latest figures suggest. 0n wednesday ind

you are asia's richest man, but you are-- stephen: asia's richest man, but are you still an entrepreneur? jack: i don't think about that. i don't have time to spend money. how much money you can spend. stephen: coming up, alibaba broadens its scope, investing heavily in southeast asia and into brick and mortar under its new retail concoction, and jack ma sizes up one of his chief competitors. jack: i think tony did not have any experience in mobilization. -- globalization. not like us. ♪ stephen: having conquered e-commerce, alibaba is investing in areas like cloud computing, logistics, digital entertainment and even brick and mortar retailing by marrying the online and off-line worlds through its supermarkets, as well as the cashless and cashier less convenience stores. it begs the question, is alibaba moving away from its asset light model? >> when you are young, tiny, light model is good. when you're strong, big, you need heavy things. but today's alibaba size, you should not leave the heavy model to the others. it is something you have to do, because the infrastructure keeps buildi

so to china and sold to asia. we do not want to go to usa and be the local e-commerce company, which amazon, ebay, so many nice companies are already over the usa. >> you don't want to take on amazon, doing what they are doing? >> no. >> how about entertainment in hollywood? you have been patient. tortoise, notthe the hare. what is your strategy? --we just it is important to not go and buy movie companies or buy this and that. when you buy all the stuff it is not yours. so you have to learn from them. you partner with them. a lot of things china entertainment can learn from the hollywood partnership is not thinking about, this is good, let's buy it. you talk about -- >> you talk about the coming winter in 2007 and sure enough the winter came quickly. we saw the collateral damage. of course, i was watching your progress through the tech bubble and that bursting. you have had these challenges that wiped familiar names off the board. are we facing a similar tech bubble right now with these billion dollar unicorns and

we are happy going to asia to asia, asia to australia, and creating something we haven't before, and a hub in bangkok and kuala lumpur. if you want to grow rapidly in asia it means, and i think your strategic view is the same, it means you are going to have to get deep into china, and the sort of secondary and tertiary airports in china. correct. the problem there is the chinese government clearly favours its own big three state airlines. i don't... how are you going to move into china in that climate? we are the first airline to be given a foreign airline...the first foreign airline to be given a local licence. china and certainly the state government see our tremendous value that we give to the secondary and tertiary cities. we have gone into cities that have never had direct connectivity. so, china values us as much as we value the china market. asia is not a one trick pony. india, we are also in. we are the first airline in india and china with a fantastic south—east asian market, and we have japan starting in two weeks. so we are nicely covered in asia. corrine png, she's a tr

there seems to be a land grab in southeast asia. are you really going to get the penetration and the growth there through the payments infrastructure and alipay, or is it to get the e-commerce platforms, because the penetration of e-commerce is so low in southeast asia? : i have been saying again and again, internally -- the thing is, alibaba should -- going outside. it is not globalized alibaba. we are a globalized e-commerce infrastructure. we are not particularly interested in one market, going to malaysia or indonesia and getting some market share there and being the largest e-commerce company there. no, we are not interested in that. they need a payment system, they need a logistics system. they need the platform system so they can sell things globally. we are interested in across-the-board trading and e-commerce. i don't think tencent can do that. we have been doing that for 15 years. it would probably be good on the payment, especially good if you are we chat. the chinese people use a lot. when you go to india, indian people

provides for asia, east asia and has provided for 70 years. i guess linked up with the economic system that the u.s. has built since the second world war or lead since the second world war and built along with europe, which is basically built around open markets and rules. rules of the road. for trade, for security, for the high seas and the like. >> glor: we're 100 years now removed from world war 1, all of this still comes back to world war ii though doesn't it. >> it does. this is the legacy of world war ii t is the legacy of the u.s. victory over japan in world war ii. a fight, by the way, the u.s. was allied with china in. and it all flows from there. and when the u.s. to go back to the '50s returned sovereignty to japan in the 19 '50s, it did so while disarming it, and basically taking over japanese foreign policy for many decades. and it also did so by forming alliances with all sorts of other countries, the philippines, australia and the like which feared japan. and all those alliances basically you know, survive today. >> glor: i'm no

this is "bloomberg markets: asia." ♪ asia extending the global stock rally, the yen weakens while oil gets a bump from talk of potential output cuts. apple's asiang suppliers after the launch of the most important upgrade in years. killing the buzz, why china's electric car pushed may be short-circuited by over exuberant investors. we will be tracking these carmakers when markets open later on. suffice to say some of these names have in did up substantially. up substantially. we will look at how it will take over on the chinese mainland. let me recap the data overnight. it is still very important. inflation out of the u.k.. have a look at my bloomberg chart. a bit of a conundrum ahead of that meeting on thursday. that is youris core inflation, 2.7%. that takes you back to 2011. fact of this driven by the the currency has been hammered so much following brexit. we are climbing back up. we are not even at the midpoint. bloomberg intelligence ran to it numbers and are saying will probably emboldened the hawks, but don't get over excited about this. inflation is overshooting the target. t

and the question is the big picture of northeast asia. actually, i rewrote in the morning when i heard it i have five minutes. okay. as you all know that the present situation security structure is much more complex and it is therefore a multidimensional -- totally different from the dichotomy structure of the cold war. but somehow the appearance remains the same. the norn tie hang lar kind of alliance, even though it's not really an alliance. north korea, russia and china and southern tie angle still kind of have at least a skeleton. so in a way good part is it is easy to draw cooperation from all the allies. the bad part, it's harder to solve the problem because the problem is on the other side, north korea. so this complex, this complicated situation, we attempt to dichotomize the problem and then at the end of the day, maybe we are in the position that it didn't solve or failure. there are two main variables. one is divergence over north korean policy. but interesting point is the thaad issue is kind of litmus test paper between u.s.

this is "bloomberg markets: asia." rishaad: the clients in the a's asia-pacific. havens are surging. gold surging above $1300 per ounce. brent crude jumping to a two-year high as turkey threatens the iraqi --

more ahead on "daybreak asia." ♪ this is bloomberg. -- asia." this is bloomberg. ♪ ♪ yvonne: reports from the uk's a uber is ready to make concessions to win back its london license. rivalnday telegraph says lyft has been meeting with transit officials over the past year. softbank is willing to accept a stock for stock merger with t-mobile at current market price. the two sides have yet to agree on an exact figure. softbank does not expect a premium over sprint's $30 million market cap. shares should be valued as a significant discount. kathleen: facebook plans to ,reate a new class of shares with mark zuckerberg selling almost all of his stock to control philanthropy. centerburg said he would proceed, selling up to $13 million of shares. yvonne: sophie: plenty -- yvonne: plenty more to come. goldman sachs chief strategist joins us to talk about the elections this weekend. this is bloomberg. ♪ yvonne: welcome to "daybreak asia." the euro falls after uncertain outcomes in germany. angela merkel faces coalition talks as the far right returns

welcome to "daybreak asia." the asia-pacific leads the way in the final day of a strong order. the regional benchmark is down for the days in a row, going into friday. treading water. inflation remains far from a 2% target. sales are on the slide. factory output improves. betty: from bloomberg global liu inrters, i am betty new york. it is after 8:00 p.m. on thursday. business deals with china can threaten national security. he says the threat is often ignored. a rocky road to profit. jim chanos does not expect tesla to make money anytime soon. betty: -- yvonne: we have a slew of data that came out from japan in the last hour. a pretty mixed signal. you are seeing inflation go in the right direction finally at 0.7% for the month of august. alsoave household spending slightly off, but swinging back to positive territory. it is the retail sales figure that plunged. month on month. i do not know how the boj will read and to all of this. betty: boil all back down to wage growth inflation numbers. that is what we need to focus on. at least, if it is mixed, it sounds as if things wil

how do you see that translating to southeast asia to these purchases? we have to take this step by step. southeast asia over the next 5-10 years will be a game of penetration with e-commerce taking more share of overall retail. , southeast asia is less than 3% e-commerce penetration, specifically indonesia. they will have less than $15 billion this year for the whole country, so there is a lot of growth opportunities. we wanted to take the slowly, step-by-step. >> you have to be fast, don't you? tencent and of theirs investing, whether ridesharing, motorcycle ridesharing, jd.com, they have invested in that. you are interested in grab as well in singapore, so is there a land grab for these kinds of assets? >> they are following us. they have see we have positioned ourselves well and are playing the catch-up game, so what we want to do is since we already have our positions, we want to work with local entrepreneurs. that was the cofounder and vice chair of alibaba speaking exclusively to stephen engle. you can catch more of our unprecedented and exclusive

, asia has a 10 year high. one of the markets that performed low is taiwan. why are we calling this a mc harmer song, you cannot touch this -- eight mc hammer song? it speaks to the fact that it has been a very good couple of months for asian equities. we seem to be breaking out of the slumber that occurred in the summer. to talk about this, is our next guest, from hsbc. my question is with equities at these levels, what is expensive? what is not expensive? what is the risk, reward at the moment? >> at the beginning of the year, asian equity markets actually performed the global #and this rally is predominantly driven by the sterling recovery. we continue to expect a third upside in the asian market because of the fundamental outlook remaining positive. the second quarter earnings season reflected pretty robust growth momentum, especially in those sectors which are sensitive to the cyclical recovery. companies which will benefit from structural reform progress in the region. >> it is a synchronized rally, a glo

there has been at the coupling ,etween asia, asian markets asia economic activity, and what's happening in the u.s. david: taiwan, korea, some other , alsos, very tech heavy formidable to stronger currencies. back to your point of where we have seen a decoupling. at what point to these currencies become too strong? are we there yet? are we close? >> no. when you talk about decoupling, then we talk about tech and taiwan, the main driver has been the upgrade cycle for apple for samsung and a lot of demand is in the u.s. when we talk about decoupling, that is probably not part of the real story there. also, it has been a sharp underperformer, especially north asia, so far this year because of that. good for now. hopefully as we into the fourth quarter. , we will watch our interviews by using our interactive tv function, tv . you can dive into securities, chat, and other things you might've missed on the show. this is for our clients only. check it out. tv . ♪ david: minutes away from the open of markets in hong kong. have a look at the movers so far. some changes in ratings. of

good morning, asia. hello, world. welcome to another edition of asia business report. i'm sharanjit leyl. thank you forjoining us. india's prime minister, narendra modi, has gone to myanmar to boost trade ties. it is an important relationship for myanmar because india is the third largest destination for the exports of the country. but myanmar is coming under pressure to end the violence it is reportedly inflicting on the rohingya muslim minority. i askedif on the rohingya muslim minority. i asked if we can expect any deals from this visit. they are looking to increase access between the two countries in terms of ease of travel between the two nations which is important for trade and the risen. —— tourism. india is a destination for medical tourism from myanmar. india has been a key market for myanmar. it is no doubt on the agenda. is india likely at all to use china's dominance? we know china is well ahead in terms of investing into myanmar and potentially reaping the benefits. could they exert power there? myanmar is interested in diversified in its engagements w

we are looking at asia. let us get a bit more on what we should be watching as trading gets underway. sophie is in the markets for us. we learned this morning of voting for thee fresh sanctions on north korea. china saying the situation is sensitive, complex, and grade. part of the complexity has been chinese tensions over south korea's missile-defense system. that has dealt a blow. i anticipate you are watching for the reaction when it comes to the kospi, but automakers in particular. sophie: korean automakers are facing the toughest year in china. sales are dented among the geopolitical tensions. just last friday, ratings downgraded first hyundai and kim motors to negative from stable, given the profitability .ressures difficulty is in the chinese operation. as you can see from the chart on the screen, hyundai shares have fallen 10% this year, given this picture. sales have shrunk 64% in china since the dispute over the missile system began. as you point out, the outlook is likely looking worse. if you che

plenty ahead on daybreak asia. next hour, we look at how chinese rockets are reacting to the north korean fallout. seeing a bit of a bid when it comes to chinese equities. china.that with equities, head of blackrock, helen zhu, at 8:10 hong kong time and 10:10 in sydney. max baucus is joining us. this is bloomberg. ♪ betty: -- yvonne: this is "daybreak asia." i am yvonne man in seoul. betty: i am betty liu. those are the words according to nikki haley today. for harsher sanctions against kim jong-un's regime, shutting down china's oil exports in north korea. that is among the sanctions in focus. for more, let us get to ambassador max baucus, joining us. he was the ambassador to china from 2014 to just earlier this year. for thank you so much joining us on this labor day holiday. look, i know you talked quite a bit about the u.s. position here on north korea, and hearing nikki haley say we pretty much exhausted all options and kicked the can down the road long enough for a quarter of a century. what does the u.s.

you are watching "daybreak asia ." let's get first word news. >> bloomberg sources say the white house is considering at least half a dozen candidates as the next venture, including andomist and executives other business people. it had been widely seen as a two horse race between janet yellen and gary cohn. possible contenders include economist glenn hubbard, and john taylor. hurricane irma continues on a collision course with miami after battering puerto rico and devastating a chain of caribbean islands. the national hurricane center is forecasting a direct hit on florida on sunday, sending insurance stocks lower. the category five storm destroyed almost all the homes in barbuda, killing at least eight people. has suffered a new setback on his embattled travel ban. an appeals panel has left in place a lower court ruling that forces the u.s. to accept people with grandparents, cousins, and other relatives already living there. the san francisco ruling comes ahead of the supreme court showdown over the broader legality

rishaad: a lot of what happens here is to- the idea talk about asia and asia credit and where we are going with that. what are the highlights and what are the low lights. we just finished first half results in asian credit. it has been an excellent first half. so it should bp or do we have had a good run in terms of fiscal and monetary polity -- policy. beenorporate's of reporting good numbers, industrials have seen a real output prices. and commodity prices have a lot to do with that as well. the property, despite the recent equity moves, have put in good numbers. fundamentals are good. valuations are hiked. it is about selection. if you look at asian credit returns, it has been dominated by a handful. two ideas and craddick names. -- audio syncretic names. that haslassic one impacted a lot of credit investors, a name we have not been involved in is noble group this is been a -- this is a credit that bonds have moved significantly. that idiosyncratic issuer and credit selection could be -- could contribute or percent or 2% year to date in total returns. when we look at where we are

the remote windswept farrow islands are a world away from tropical southeast asia. but hundreds of asian women are moving to the south park to climates between norway and iceland amid a shortage of local women. i'm steve cho on this episode a one on one east we meet those traveling to the far reaches of the earth to look for low. at first sight the faroe islands make your heart skip a beat. secluded in the north atlantic ocean it's striking mountains a cloaked in fog there's not a tree or a person inside hard to imagine for someone from the philippines and they're looking so although there's no house. push the hostesses firs is thinking. many have never heard about this tiny country at the door of the arctic circle especially in tropical thailand when i told my friend that i going to be in fair island they say why you go to eat it they're. all home to only fifty thousand people and eighty thousand sheep. it's also cold and wet. and they're straining a lot. and in darkness for more than half of the year. went. it feels very cool blooming. everything it's like. becaus

this is "daybreak asia." kathleen: s&p global ratings has cut china's sovereign credit rating for the first time since 1999, citing the threat of soaring debt. tom mackenzie joins us from beijing. it is interesting to me, the debt has been there's some time. why the downgrade now? how serious is this? tom: in some respects, they are stating it blindingly obvious, something articulated by the imf a few weeks ago. christine lagarde talking about the risks around china's profile. it was articulated by moody's. and another, about the banking crisis. in other respects, china cannot ignore red flag warning from a major credit agency. what they are talking about, s&p, is the buildup of debt. we have a chart to illustrate what has been going on since 2008. this is g #btv 624. it breaks down component parts of debt, it has all been rising since 2008 up until the last quarter of 2016. that is the debt profile, the s&p and others are worried about. other analysts will point out, there have been moves in the right direct

we are still at a relatively low consumption of europe sugar in asia. —— of sugar in asia. in europe it is as much as 30 aid. even if there is as much as 30 aid. even if there is a decrease in prices, there is still strong demand and in the end it will balance out. what about the global campaign to fight obesity? even though the rather governmental policies to decrease sugar intake we re policies to decrease sugar intake were coming from a low position in asia. the massive drivers that effect the consumption of sugar inta ke effect the consumption of sugar intake and the rise of income level will change from a rather unprocessed food to processed food and this is one major source of where sugar is. it has been 4080 yea rs where sugar is. it has been 4080 years since the us space programme first planted a flag on the moon. 48. now one of the companies taking pa rt 48. now one of the companies taking part ina 48. now one of the companies taking part in a competition to be the first to put a rover on the moon. what is unique about us is we have no background going into this mi

payments made by staff in asia. the news comes amid the federal ruleswhether uber broke against overseas bribery laws. what countries are we talking about? >> we have this mysterious u.s. justice department pro. -- probe. what we are learning is uber hired an internal law firm to look at activity in five asian haveries treated we differing levels of specificity on what went on. the last specific case we know about took place in indonesia and was ordered to the justice department. it is unclear how many countries are being affected i this. indonesia that seems paid onlyer employee could continue to operate and office. uber fired the employee but did not report it to the u.s. government. that is one instance. there are questions in malaysia about whether there was a quick quote and a series of investments that went on there. uber isill early, trying to figure it out it self created is hard to know where the justice department is landing but they're looking at it closely are you betty: are there other areas as well? >>

asia is fast becoming a big buyer of u.s. crude oil despite the fact that the two regions are half a world apart as the world's fastest growing consumer of oil it's not surprising that asia would turn to the u.s. as a source of energy since the u.s. has been increasing its output but in fact a global oil markets are caught off guard over how quick the trade flow is changing so mound joins me now to follow the shifts of that the u.s. into china making some money how significant is this relationship between asia and the u.s. well lindsay it's huge i mean first take into consideration the asia's the biggest oil consuming region in the world and then i'm going to give you this statistic for just up until now in twenty seventeen asia has imported one out of every three barrels that the u.s. has sold overseas that's a huge increase we can show you a graph that shows you just how huge it is paint a picture for us we're talking about going from basically nothing to now buying a third of u.s. products so that's about three hundred tho

good morning asia, hello world. glad you could join us. iamat hello world. glad you could join us. i am at rico hizon. the world is most powerful central bank, the us central bank left interest rates unchanged. the federal reserve kept borrowing costs in the range of i— i.25% borrowing costs in the range of i— 1.25% but another rate hike is on the cards in september. starting month, they will start reducing the massive amounts of bonds at it owns. asa massive amounts of bonds at it owns. as a result of three rounds of quantitative easing measures it involved buying bonds to stabilise the economy after the financial crisis. we asked what in pact would be? what surprised markets was not so be? what surprised markets was not so much the announcement because it had been signalled but it was more that they seem committed to continue raising interest rates. how will these impact of the us economy? we saw immediately that depreciation of the us dollar. a stronger us dollar in the short run. this is done with the means, the objective of slowing us growth. good this squeeze corporate pr

charter should be fulfilled on the korean peninsula in northeast asia. the basic pillar of security in northeast asia and a lateral is and should be wisely combined. the united nations is to realize global peace through multilateral dialogue. the korean peninsula is where the spirit is most definitely needed. is whations of peace the united nations was created for. the process and in of achieving. we need the united nations to play a more active role on the korean peninsula. the most important role in the united nations is to come up with fundamental measures to stop the vicious cycle of increased provocations and heightened sanctions. haveny occasions, i announced a new economic map for the korean peninsula and new visions for the economy. that genuine peace and prosperity in northeast asia will begin when the foundation for northeast asian economic community is solidified on one and multilateral security cooperation is materialized on the other. distinguished president, secretary general, and delegates , the olympics have not and held for as many as 15

this is bloomberg markets asia. ♪

that we have not seen in asia. australia, yes, but not in the rest of asia. betty: maybe etf's are now the amazon of the fund management world. is there any place at all in your view for active stock figures? ? >> -- mark: absolutely. active stock pickers as a set are so much larger than not just etf's, but the whole world of indexing. there are many dollars allocated to people pricing securities around the world. all indexing is only about 10% of the financial markets. that's pretty small. there is a huge space for stock pickers to price securities and make money for their clients. etf's are just a way for clients to build or folios when they don't want a stock picker for a growing exposure. betty: the downside of that is that you have more etf's investing in companies. that makes, by default, these etf's as passive as investors. cause lessperhaps corporate governance, there are not active managers holding the ceos accountable. that is a concern right now in japan, where the etf market is so huge going to the boj. mark: right. the first thing is, remember th

there seems to be a land grab in southeast asia. will you get the penetration and growth through the tema or istructure and alipay it to get the e-commerce platforms because penetration is so low in southeast asia? it is not a globalized alibaba. we have globalized infrastructure. in goingt interested to markets and getting some market share there to be the largest e-commerce company. we are not interested in that. they need a payment system. they need a logistics system. they need the platform system so they can sell things globally. we are interested in trading and e-commerce. i don't think tencent can do that. we have been doing that for 15 years. it would probably be good on the for we, especially good chat that chinese people is a lot. does not have any experience at globalization, not like us. >> all of the data you are collecting by creating this ecosystem, and because you like partnerships, you have partnerships the you are all collecting data. do you run the risk of down the road having a dispute over the ownership of that

and reports from asia and the u.s. say the new iphone x has been delayed due to problems manufacturing process. component makers are struggling to hit production levels while the wall street journal reports delays in the facial recognition sensor. askissues prompted apple to to restrict some -- to ask suppliers to restrict some parts of shipments. global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. i am courtney collins. this is bloomberg. betty: thank you. stocks as we mentioned surging, the dollar up, it was all about the trump tax plan. with the investor reaction. seen wall street wait for details and we have close of thee, the session. it had been much lower. so a lot of green on the screen as a result. we mentioned tech and financial moving higher. so was the dollar moving higher on this. the dollar rallying to a six-week peak and you can see it come down, it was going sideways and here we are, the highest since august. andoing to the actives putting apple on

good morning, asia. hello, world. welcome to asia business report. i'm rico hizon. us president donald trump does not mince his words. in his first ever speech to the un general assembly, he threatened to "totally destroy north korea if need be. " he also called iran and authoritarian regime and said the 2015 nuclear disarmament deal was one of the worst and one—sided transaction is the us has ever entered into. earlier we werejoined by the us has ever entered into. earlier we were joined by a member from the militant institute has said the ramifications from the speech are likely to be negative. it was interesting when i watched the speech, that wasn't my takeaway. what came across was a pragmatic american president. clearly he wants to do what is right for the american people, just like every country's leaders. what it means in terms of existing trade deals is clearly this administration is going to look at it and see if he should be adjusted. with all of the negotiations both sides have to come together. what if the us doesn't get what it wants? could it totall

americana in east asia is really america as both the dominant power in east asia since the second world war and also the sort of policymaking power in asia since the second world war. i begin you an example. it is remarkable that 70 years still has troops in south korea, still has troops in japan,. it has troops in australia. that is pax americana, and interwoven set of security guarantees that the u.s. provides for east asia and has provided for 70 years. i guess linked up with the economic system that the u.s. has a build a since the second world or and built along with europe, basically built around open markets and roles, rules of the road for trade, security, for the high seas, and the like. years removed from world war i, this all comes back to world war ii, doesn't it? richard: it does. way, the u.s. is allied with china in. it all stems from their. when the u.s. returned sovereignty to japan in the 1950's, it did so while disarming it and basically taking away japanese or and policy are many decades and also formed alliances with the philippines, australia, and the like, which f

what does that mean for asia? courtney: they are keeping -- sophie: they are keeping their eye on december. equities are looking mixed. check out the yuan and korean stocks, sliding, although we do have the bank of korea governor saying he anticipates a limited market impact from the fed decision. we are keeping a close watch on the dollar-yen, trading .33% lower. earlier in touch 155, but for now keeping steady even as rex tillerson spoke of the u.s. approached iran. the yen weakness has been a boon for japanese equities, trading at two-year highs. equity bulls reinforcing the uptrend we are seeing in the nikkei, gained a 6% since the start of last week, outpacing other global benchmarks ahead of the boj decision. ,eep an eye on the jgb market 10 year yields rising, set for a third weekly advance. tokyo securities expects the jgb market to start on a soft town, but they do see support coming through. jumpedee year yield has to the highest since december 2014. we do have the rba governor set to speak. we are going

it puts pressure on currencies in asia. strong dollar makes barring more expensive and puts pressure on central banks to defend their currencies and economies. the bigger picture remains that if you wanted to get a pan-regional omelette out of india, korea, and japan and eggs from beijing, that is not the biggest worry. the biggest worry is the fed and the global backdrop. haidi: i think that's all the food puns i can take. bloomberg's top ranked forecaster. we ask where the currency is headed after the party congress and into next year. this is bloomberg. ♪ ♪ haidi: this is "bloomberg markets: asia." i am haidi lun in singapore. david: i am david ingles in hong kong. a quick check of the business flash headlines. ge's cost-cutting plan targeting a high profile area, corporate jets. the new ceo john flannery is eliminating $2 billion by the end of next year. starting now, flights on executive planes will be scaled back and replaced by charter. he wants to increase earnings and reversed the biggest stock slide on the dow

including the beginnings of a space race in asia. globally, the space race in asia. globally, the space economy was valued at around $323 billion in 2015, and 76% of thatis $323 billion in 2015, and 76% of that is in the commercial space. asia makes up a much smaller piece of that. china's annual budget is estimated at $3 billion, and india only spends about $1.4 billion. but thatis only spends about $1.4 billion. but that is growing. earlier i spoke with lennart tong, of the singapore space technology association. she said governments in the region are now making space exploration priority. i think it is very interesting that these countries are using their own initiative. in china it isa using their own initiative. in china it is a very deliberate, organised, national to become a major space power by 2030. and that comes from the very senior level all the way down to the people and the engineers in the mission. in india, they leverage it with cost competitiveness. they were the first asian country, before china and japan, to send a mars probe successfully to mars.

this is "daybreak asia" in new york. david: those tense and the s in thend -- tent background, there is still a fashion show taking place, so underscoring the fact it is still business as you will -- as usual. we are joined now by fitch ratings. they say when you look at tensions on the peninsula, currently higher than other recent flareups, the situation has become more uncertain. we are joined i the global head of sovereign ratings, james mccormick here it thank you for coming on. -- james mccormick. thank you for coming on. it is difficult to quantify how this changes the risk profile. was there anything on the weekend that might prompt you to have a second look at south korean now? from a ratings perspective. we have have this factored in for a long time. if you look at fiscal performance growth, external finances, it would be rated higher than where it is today where it not for north korea. we have a aa minus rating, the wehest in north asia, and set the rating would be higher if it was not for north korean risk. no