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tv   Bloomberg Daybreak Australia  Bloomberg  May 13, 2018 6:00pm-7:00pm EDT

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haidi: trump officials in the u.s. is ready to invest, provided there is proof of denuclearization in north korea. betty: about turn on china, ordering the commerce department to stay afloat. haidi: malaysia's failed in on unchartered waters, the economy, corruption and missing money, topping the list. betty: the solution to everything, business leaders in new york to make the case for blockchain. haidi: hello from sydney where
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it is fast a 5:00 a.m.. i am haidi lun. we are two hours out from the open of asia's first benchmark it. betty: after 6:00 in new york, i am betty lou. we will be looking at how all the action on wall street will play into the asia-pacific trading day. i think we will be watching bitcoin this week, blockchain theory we will be watching for the price of that coin. we did and friday with a slightly bullish note. the dow is up 91 points, the s&p higher. tech shares still waiting on shares overall, but the dollar was steady. the s&p for stock market ending the week as i mentioned on the bullish tone at least a little higher. some of the panic also. that seemed to soften as well. overall it seems to leave investors more optimistic
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closing out the week and going into this week. lookingnflation fears better. when you look at north korea, we have another set of potential trade talks continuing in washington with the vice premier of china visiting. take a look at the set up in asia. let's pick it up with new zealand, where trading is getting underway. watching for the biggest company included in that review today. kiwi stock seeing weakness at the moment with the kiwi dollar .t the 9.22 futures in australia, this is how we look at the open in sydney. looking pretty flat but some positivity there. the aussie dollar, 77.44. watching the domestic activity. retail sales and fixed asset investment coming in. the kiwi-aussie. let's head over to commodities we do have a full across
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precious metals. 61 was down 5% going into the blockchain week. gold futures seeing a bit down. screwed over $70 a barrel. we heard from opec saying they have an adequate buffer to upset -- offset these from iran. they are not worried about flight shortage. they have enough spare capacity to make up for that, but opec in focus when it comes to the oil patch. the commodity index seeing weakness, .6%. let's get to first word news. >> six members of one family including girls, aged nine and 12, carried out bombing. several people were killed in the attacks. the father detonated a car bomb. the teenagers on motorbikes and the mother and daughters wore explosives. they recently visited syria were
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linked to an islamic state group. terrorism isf really barbaric and beyond the limits of humanity and has inflicted casualties among the people, police, and innocent children including the perpetrator herself and her own children who acted as suicide bombers. >> the former malaysian prime -- planning to flee he could face execution. he is being banned from leaving the country after [indiscernible] to jakarta. he said it was a holiday. special leader has promised to open the investigation and will classify control report. one of president trump most contentious campaign promises comes into being monday, using fast-moving the embassy from tel aviv to jerusalem. he said it is time to recognize
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this as the capital of israel. most of the region of hoses the thesion -- opposes decision. the palestinian authority has left off contact. u.k. prime minister theresa may is calling for unity after her cabinet split and her plans for relationships with europe were called crazy by her own secretary. she said the country can trust are to deliver, though the government is not sure. half of her cabinet opposes the plan of cutting ties with the e.u.. global news 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i am rosalind chin. this is bloomberg. ♪ administrationp officials say the u.s. is ready to allow work into north korea and staff once they have the irreversible denuclearization. >> i think we are prepared to
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open trade and north korean investment. >> we have our finest entrepreneurs that are risk takers, capital providers. not taxpayers. they will get private capital that comes in. north korea is in need of energy, electricity. they are in great need of agricultural equipment and technology, the finest from the midwest that i come from. we can deliver that. haidi: let's get the latest with ros krasny from washington. great to have you. seems both sides are making sense of goodwill gestures. has it raised optimism going into this summit in singapore? i think it has, we are a month away from the summit and the rhetoric is getting ramped up pretty quickly here. this weekend we had an announcement from north korea that they are going to dismantle the main nuclear facilities sometime this month, so we are looking forward to that.
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they released the three u.s. citizens to the arms of president donald trump. now these big talks from the secretary of state mike pompeo, he is talked about raising the level of the economy in north korea to that of its neighbor, which seems pretty far-fetched but certainly sounds like a very aggressive goodwill gesture to really put the maximum to pressure on kim jong-un to play ball with the u.s. forward isow going that will continue. haidi: i am wondering when it comes to the trade side of things, it feels like we are setting up for another round of talks. do we have any data whether the vice to mere from china will visit? butlind: we believe he is,
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it has been slow in coming. you talked about on your program that the move by the trump administration today, it seems compromisinglevel, are getting this back into business was a precondition from what we have heard, possibly a precondition to the talks going ahead. so maybe look for those talks to go ahead. so very interesting move by the trump administration. betty: i want to return to the issue of iran, which we heard john bolton earlier today talk about imposing u.s. sanctions on businesses who do business with iran. what is the latest? ros: it seems today that john bolton am a national security adviser, and mike pompeo are doing good cop, bad cop on iran.
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know, is a hardliner, you after it sanctions possible on european companies, european -- maybe not governments but companies. he said it depends on the conduct of the outlook of the government. we think that is pretty harsh words, countries that are u.s. allies. abouts mike pompeo talked he is still hopeful for getting a deal with iran to really work. at the same time you have theresa may having a phone conversation with the iranian president, and iran's foreign minister is in china and will continue to travel to kind of bring the deal together with the non-us purchase offense. -- it is offense. john bolton thinks european governments are stunned by the u.s. move, and that is true. they are still waiting to see
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what it all means. but really the threat of going sanctions on your own , ands is a pretty hardline it seems like the u.s. will follow through. betty: thank you so much, ros krasny in washington, bloomberg news editor. president trump making a dramatic about turn on china, ordering the commerce department to help wireless companies stay afloat in the u.s. our policy editor kathleen hays has more on the story with a different angle, talking about the president'tweets. -- president's tweets. kathleen: there is this comment about his trip by the top economic advisor to the united states. the white house that it would be this week. we have not had a definite confirmation of what day when the chinese so far is it would happen at the appropriate time.
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still expected but meanwhile the rp. is a big zte co thing. in april under trump's orders, the commerce department cut zte off from his employers because they have violated the sanctions against north korea and iran, and they sold telecommunications equipment. that is what they do and make. the u.s. blocking zte's revenues, the next two weeks crucial. they need -- they may be ready to shut down operations, so it is an emergency. official told bloomberg news that china thought maybe this blockadeof the zte from its u.s. suppliers would be a condition for continuing the u.s. talks. donald trump on his way to golf, here is what you tweeted out. let's take a look at this.
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xi of china and i are working together to give massive chinese food companies -- phone companies a way to get back into business fast. congress has been instructed to get it done. so i think this creates a little more drama, a little more questions about, maybe this is trump's way of saying, come to the u.s., we have had trade talks. both sides said they made progress. nothing definite, but maybe this is the way to set this up for more progress. it is interesting that as all of this is going on, the south china morning post is looking ahead and saying the vice president of china could be sent as a firefighter in late june, early july to continue these talks are at both sides seem to be seeing the room for progress, despite a lot of back-and-forth, $150 billion is what is threatened on china.
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said's that $50 billion -- $50 billion. would beions, tariffs really bout against china when they are already slowing down. haidi: the chinese investor sounded -- ambassador sounded upbeat with these talks. kathleen: yeah, he was speaking at the center for strategy and international talks in washington. it was interesting because he really was optimistic. he said the huge deficit for the u.s., the trade deficit, the surplus for china should not continue. he said this in his talks as csi on friday.- csis i don't think it will continue, the back-and-forth, the tension. for us it is already a problem. we need to make achievements to achieve balance. i'm confident if we have a
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balanced approach, we can find a solution. he said he is optimistic china would cut subsidies on the kind of companies that are being given subsidies as part of the made in china 2025. high-end of the production chain technology type companies. he cautioned against those trying to build a glass curtain between china and the u.s. it would be good for bilateral relationships and both countries. the public comment time on the tariffs that trump has proposed to put on china and may 22 -- that is why people are expecting this next round of talks between the u.s. and china will happen quickly. on friday, as the u.s. chamber of commerce put out a comment on the terrace at the trade rep's office, they called these hidden regressive taxes on u.s. consumers and businesses that will hurt u.s. competitiveness. one of my colleagues actually in
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washington explained on friday that even if they get past this comment time, it doesn't mean go into effect immediately, but is critical, so we will wait to see when they can tell us if they will arrive in washington. no date given. haidi: thank you so much for that. kathleen, the global economics and policy editor. malaysia's new capital taking shape. the investigations, live later. will dig into geopolitical risk with the amt capital investors senior economist. this is bloomberg. ♪ st. this is bloomberg. ♪
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good morning, i am betty lou in new york. haidi: i'm haidi lun. you are watching daybreak australia. president trump has ordered the u.s. commerce department to get
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back into business, weeks after cutting off from the u.s. ,uppliers area a major reversal who have constantly said china is stealing jobs. usbal growth upturn, joining seniortal investor economist. thank you for joining us. we talked about this marathon, not a sprint when it comes to trade. you think investors are putting food on the fire, or are they -- >> i think over april we definitely saw that investors were taking trade as a backseat because there wasn't much news .ut from that side investors were taking comfort in the economic data which is good over april, but the issue is in may we are going to have to see some resolution around with the u.s. is going to do around chinese imports. i think that will create some
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volatility in markets, and it will be a negative thing for equities, especially in the u.s. haidi: the kind of tendency to take these surprises from trump tweets, i was surprised to hear this turnaround, the about-face when it comes to the zte, but is this is a tit-for-tat but also back-and-forth that you were expecting? diana: we were expecting negotiations to continue over the past few weeks, especially as chinese -- as chinese delegates were going into the u.s. and vice versa to talk about trade. while it is likely to continue, we are going to see heightened volatility in markets really because trade issues and the concern around the trade war, the risk of a trade war is a big negative for global growth, and has been strong. any signs that it is turning is going to strike investors.
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haidi: i wonder how the lack of a trade war or the tensions taking a backseat informs your view on the u.s. dollar? it has not been this overbought since march 2014, but the fundamentals have not changed. you see this to the upside. think the u.s. dollar has further upside, ultimately because markets are underpricing the risk of federal reserve rate hikes. we think three more this year, market pricing, inflation -- that is right. we think despite a better inflation rate, the overall inflation is turning to pick up in a very fast way, especially if you look at inflation on a three-month annualized type of basis which gives you a better rated trend. wages is something investors it to keep an eye out for as well. with these things coming up and high commodity prices, we think
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the u.s. dollar is heading higher, and the u.s. treasury yields are heading higher as well. betty: speaking of treasury yields, i want to pull up this chart that shows you how much spreads are tightening in the treasury market between the five and the 30 as you continue to look here. the spread rapidly, over the last 12 months continues to tighten. at this rate it is likely to turn negative, invert by august or september, so does that signal a recession? speak thedid see that fed over the weekend that they are expecting the yield curve will invert sometime in the second half of the year. we would not be too surprised to see that, but i don't think it signals the start of a recession. we are seeing in previous cycles that the yield curve has inverted a little bit but not always signaled recession is on
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the cards. but i think this will likely still happen. we think the year will be positive for u.s. equities because earnings growth is strong and momentum is strong. i would not get worried. betty: we have got several fed speakers who are going to be talking this week, including richard clarida who is a nominee for fed vice chairman. you expect any of the remarks he will hear from various fed officials help that inversion rate? the communication from the fed has really been quite consistent in that they have been saying their inflation target is quite symmetric. so if they need to have inflation running above the 2% band, they are quite willing to allow that to happen. so i think that ultimately, the long and of the curve should be picking up more than where it
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has been over the past few weeks. but some of that concern around trade i think might take some high-heeled -- high-yield over the next few weeks. betty: i want to talk about the oil markets which have been rattled by the u.s. leaving iranian nuclear deal. we heard opec over the weekend say they have enough supply. they are not concerned about upcoming sanctions. you expect this to be disruptive or pretty well priced in to the global economy? diana: it is a difficult one to get a great read on, but probably oil prices have another live dollars to seven dollars of upside -- five dollars to seven dollars of upside left based on the sanctions imposed. it is further upside in the markets, but i think there is also, what is going on is global demand is still holding up quite
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well. that is something investors have been concerned about, the global , but wes quite weak think demand over the economy, particularly emerging markets, is better than what investors were expecting. that upside is good for oil prices. it is more upside in the near term. that might help with inflation. haidi: all right, thank you for joining us. senior economist here with us in sydney. tuesday, make sure you watch our conversation with turkish president satiety erdogan -- erdogan. : in the afternoon in hong kong. of of you can get around that story and more to get your day going in today's edition of daybreak. bloomberg subscribers can go to dayb , also on mobile in the
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anywhere app. you can customize settings so you only get the news on the industries and apps you care about. this is bloomberg. ♪
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i am haidi lun in sydney. betty: you are watching daybreak australia. quick check of the business flash headlines are xerox. -- boss jeff jacobson has resigned. he enters a new deal with activist investors carl icahn and darwin descent. sources tell us several members of the board are likely to follow jacobson out the door. icon and decent have been fighting the deal that would hand control of xerox to fujifilm. india showsing in walmart may be forced to publicly list is the quired flipchart.
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this gives walmart 77% of the e-commerce economy and a foothold in the fastest moving market. investors could have as little as 14% -- --
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mom, dad, can we talk? sure. what's up, son? i can't be your it guy anymore. what? you guys have xfinity. you can do this. what's a good wifi password, mom? you still have to visit us. i will. no. make that the password: "you_stillóhave_toóvisit_us." that's a good one. seems a bit long, but okay... set a memorable wifi password with xfinity my account. one more way comcast is working to fit into your life, not the other way around. mr. elliot, what's your wiwifi?ssword? wifi's ordinary. basic. do i look basic? nope! which is why i have xfinity xfi. it's super fast and you can control every device in the house. hey! let's basement. [ grunting ] and thanks to these xfi pods, the signal reaches down here too. so sophie, i have an xfi password.
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and it's "daditude". simple. easy. awesome. xfinity. the future of awesome. sydney.t is 8:30 in markets open in 90 minutes time. we have some positivity going into the citi open. u.s. stocks counting their first week on friday -- best week in a while with inflation tamed. getting chilly in sydney. i'm haidi lun. betty: it was chilly here in new york. it is 6:30 p.m. you are watching daybreak australia. look at the first word news. iran will stick with the 2015 nuclear deal despite americans decisions to pull out. basically accord can suffice with the other five signatories holding firm despite the u.s. decision.
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at the same time the national security adviser john bolton warns the u.s. there could be sanctions on companies that do business with iran. >> why shouldn't they? they got everything they wanted from the obama administration, but i think the europeans will see it is in their interests ultimately to come along with us . is the u.s. going to impose sanctions on european companies if they do business with iran? >> the answer is it is possible. depends on the conduct of other governments. rosalind: senior officials say the u.s. will allow investment in north korea once they have given up their nuclear program. john bolton said washington is ready to open talks on rebuilding the country while the secretary of state mike pompeo said american entrepreneurs are ready to move in. there must be clear evidence of denuclearization. china's first entirely
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homebuilder aircraft carrier has been put to sea. the unnamed vessel left on sunday morning and warning others to stay clear of oceans southeast of the port for the rest of the week. the carrier is based on a former design and will be commissioned before 2020. disney's latest superhero movie talk to the american box office for a third weekend in a row, helped by a big splash in china. another $81 million in the u.s. and canada, and did $200 million in china. that takes global growth to $1.6 billion, making it the fifth highest earning film of all time. global news 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i am rosalind chin. this is bloomberg. ♪ thanks for that. let's get an update on the markets.
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as we take off the trading week, we see some lack of momentum in .ew zealand a little lower, the kiwi dollar 69 points before. -- 69.64. australian stocks opening a touch higher with the aussie dollar at 75.45. pretty steady day in china when it comes to the china proxy. big week when it comes to industrial production. investment do out of china. the aussie-kiwi 183.23. more broadly let's take a look here. the u.s. dollar holding steady. --e and -- morgan state the we are pretty far from the at the moment, the 109 handle. sterling, we have the boe selloff, starting to see more come back into that trade at 135.46. the u.s. 10 year holding steady
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at shy of 3% we heard from james bullard, saying that could happen this year or 2019 if the fed keeps up its three hike pace. we did see u.s. stocks capping their best week's we have seen in eight weeks, and it is growing. geopolitical situation elsewhere looking a little more positive. betty: it is, but we have yet coming meeting between trump and kim jong-un. malaysia is in uncharted waters speaking about political. the new government takes shape .nder prime minister mohammed the four party alliance that one the vote is under scrutiny for how it plans to run the economy and tackle corruption. let's cross back to sophie ,amaruddin in kuala lumpur following the developments since last week. he has wasted little time since being sworn in thursday three what are the key development? -- thursday. what are the key development?
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sophie: it is a moment to rebuild institutions which mohammed said when he was in power. he has wasted little time putting forward the building blocks for the new government. we did see the talk of reopening the probe into the scandal that played the state investment firm. part of that saw him during the former premier from leaving the country, and it was a dramatic weekend. we did see not just hit step down from the leadership post as well as stepping down as president. he did call for the party to come together for its next chapter. when it comes to tackling what is happening in within the government, we have three cabinet ministers having been appointed. ,e have the defense portfolio the former deputy prime minister with the other administration. beinge the chief governor
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appointed as finance minister and holding the home ministry portfolio is -- what was interesting was the one man was absent, but following the update, we got as statement from abraham, the de facto leader, saying he does support the decision being made by the in the hopesuncil of stability will be seen throughout the transition of power. we did see controversy surrounding the announcement of eight ministers. we are expecting for more positions to be announced this week. they hope to trim the cabinet from what we saw during the other administration to 25. stability obviously is key, but what are the priorities
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when it comes to the elders appointed by the prime minister? they held their first meeting over the weekend. the council of elders that was brought back into the fold, key speakers for malaysia, , heformer finance minister spoke after their meeting, saying that the priority was to maintain economic stability. the first up is the gst issue, part of the president's points to get ahead of the election. they were discussing potentially abolishing the gst. but they did say there could be some considerations to be had. and the finance minister designate, he said he has no specific details to share until he has sworn in as finance minister. but with the council of elders decided -- aside from the
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economic priorities they are focusing on the scandal, a special task force. it is looking into the company scandal, and there will be collaboration when it comes to investigations in other jurisdictions overseas. returning to what the primitives are had to say for the priorities, he said with investors looking unsteady, at the uncertainty, he says the economy is still in good standing, and with the transition of power, there will be certain considerations to be made when it comes to or reducing that debt. he said they are not stupid, they will not look to increase the debt burden on people, taking a look at the way the economy has developed. he sees while the economy could be at stake should the gst be removed, he is keeping a steady hand throughout the transition of power along with mohammed at the helm. haidi: thank you so much.
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sophie kamaruddin for us in kuala lumpur. watching very keenly historic transition of government in malaysia. let's take a look at what else we should be watching as it gets underway. we have the fx rates reporter, watching malaysia. it is interesting that you see this person try to say all the right things to calm investors into the open after holidays. reporter: and what a win. i think investors are going to see what the ringgit is going to be doing has markets open. the ringgit has been the best performing currency against the u.s. dollar in the past year, so let's look at the chart of the malaysian spot ringgit. a lot of uncertainty in the market. the bank of singapore recommends the ringgit might slide to the psychological fore. to img has cut the forecast
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4.05 from 3.84. the ringgit as i mentioned earlier has been a top forming -- performing currency. it has risen in the past year but all of this political uncertainty is definitely weighing on future performance. the aussie stock investors appear to have had a great run after the benchmark index focused on the weekly winning streak since 2016. is anyone saying the good times are coming to an end? reporter: absolutely, and that has been the message to investors here. let's look at the chart on the performance of the benchmark asx 200. it is expected to rise 2.7% over the next 12 months. that is half the gains since april 1. our stock reporters over here have done the analysis. as they has shown that
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enter performance going forward in the next 12 months, korea's kospi will come up on top followed by hong kong stocks as well as jakarta stocks. at the bottom of the list is australia and new zealand. fore are stocks for it -- specific opportunities down under. analysts recommend companies like eclipse group or this resources group. betty: thank you so much. the rates reporter. don't forget to check out the gtv library for the church you saw there and earlier. it is on the bloomberg terminal. china's stock market going global like never before. we will look at how asian shares on the msci will further open the doors to foreign investors. this is bloomberg. ♪
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good morning.
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i am betty lou in new york. haidi: i am haidi lun in sydney. oneese markets are moving step closer to the global financial community as msci in the00 mainland stocks indices. it is a major step for beijing and gives it international investors and more access to equities that have until now been out of reach. >> from the world's most valuable to stiller to banking to mining -- distiller banking and mining, they will have greater exposure to china's yuan denominated shares. they will be added to msci's emerging-market and all country indexes in june. it is a standard for financial -- don'tty and a major expect the economic equivalent of a victory parade. shares will only account for 7% in the emerging markets index.
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still even a small slice of the pie is excited to bring billions of dollars into china's equity market as index tracking funds by in. .- buy in and beijing could carry up further reforms. betty: one result from the inclusion in the msci could be the lowering of pagers to shorting mainland stocks. -- barriers to shorting mainland stocks. washington is one of several events that could move the market. su keenan here with more. let's talk about the msci change. su: it is a big one. way. goes global in a big the msci comes out with its semiannual index review. for the first time it willing -- it will include china in this report and it will include the 1.nese stocks in june, june this is a huge move. it is about 200 shares that will
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be added. listing these companies will be part of the gauge that guides investment of $12 trillion. that will bring a lot of money, create demand internationally and for the shares by tracker funds that have to mirror the content of the msci. let's take a look at the index, the msci emerging market index. this is the one that will be featured. it is widely followed. this is a major symbolic win for china which is -- has wanted greater taking. what it means for the economy is a number of things. it means there will be an ability for investors in china and around the world to short the stoxx. this is something, shortselling, got a bad name in china in 2015 because of the stock market crash at that time. a lot of it had to do with futures on the indexes. it left a bad taste in people's
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mouths, but now it is more sophisticated. it has balanced the market and is useful, allows shortselling because more shares are available. that kind of availability he did not have. the biggest issue with shortselling in china was the availability of stocks. that will improve with this. as mentioned in the little report you saw, the inclusion will be relatively small in terms of waiting, about .7%, but it can grow to 14%, and that would have a massive change in in these chinag listed stocks. haidi: taking a look at wall street, we mentioned trade talks that are potentially happening but also another round of earnings and eco-words. -- reports. earningsve a number of reports. let's look at those because the
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companies that are reporting are interesting. retail names, home depot, walmart, very big names. you also have cisco, which is up probablyto date, and tencent, the huge chinese e -tailer. it is now $82 billion in valuation. there are concerns that its profitability will drop to the lowest level since 2003, and that will add tension. in terms of the eco-report, things are front and center like retail sales. they had been an area of weakness. april sales are expected to rise according to economists surveyed by bloomberg. they also expect the manufacturing data to be solid, and solid footing in manufacturing and factory activity is something that will continue to shore up the economy. in terms of international events .e have harry to marry
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that happens saturday and while it does not move the markets, it is widely followed in the u.s. and no doubt some economic additive trinkets that will be sold. [laughter] haidi: get your merchandise now for your viewing parties for the royal wedding. thank you so much for that. the uae's energy ministers that opec has enough spare production capacity to help, should the u.s. impose sections on iran. the cartel has dealt with similar situations in the past. >> throughout history we have been through ups and downs and sanctions with some of the members, and we have managed very well. i am not worried about how we .ould manage if this comes again, how would the organization manage it area with thee your even non-opec with us that we are talking about 24 countries, and
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the alliance we put together. so i think what is important for theow is the reach, incentives like what we are happy -- having in this. those are the important things. reporter: saudi arabia has pledged to mitigate the effects of the sanctions. what can they do? overall, let's not focus on what a single country can do. i think the group, saudi arabia and all the member countries, we consult. we do things together. we are a bigger urbanization now as i told you. i think, is there going to be an issue if there is a sanction in one of the member countries? i don't think so. we have been there before, and i think opec has been resilient
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with many of those in the past. countries, member uae, kuwait, they have definitely a spare capacity that can be used whenever the whole isanization reduction acquired. but all of these things are members.hin the whole i think we are targeting stability of the market, and we this is this will be the year of stability. i think the stability [indiscernible] hopefully in june we can address it. aboveer: we do have brent $75 a barrel. bank of america says oil could be $100 a barrel next year. that is great for you as a producer and for companies like adnoc's, but do you worry there is a point where the higher
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prices hit demand? reporter: what we target is not a certain price. we are not always happy when too high.s anything that is not sustainable, that is not a very good target. what we are targeting is a price that incentivizes investors. we are targeting a price that is , that is reached when the markets is stable between supply and demand. is demand, very healthy growth on demand. a year of geopolitics that you mentioned earlier. so i think we need to give the market time and look at that price within a whole year rather than just inside a month or a week. that was the uae energy
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minister speaking to bloomberg's tracy alloway. for breaking news wherever you are, we have teamed up with twitter to launch tictock by bloomberg. it is the first global news network design for social media, offering hourly updated news reports, verified by us. they sure you follow tictock. ♪
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haidi: i am haidi lun in sydney. betty: i am betty liu. you are watching daybreak australia. jack dorsey, snoop dogg among the thousands of -- is he a rap legend? thousands of enthusiasts meeting in new york, hoping to pitch blockchain as a solution for everything from inefficient financial transactions to global poverty and debate that run until the weekend. it is being called blockchain
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week here in new york. it has got everything from rap concerts to the first ever block chain jobs fair if you want to get a piece of that action. thatt to pull up a chart shows you how popular this has become. look at that, 7000 attendees are expected. just three years ago almost 625 people attended these. haidi: even though we have had cryptocurrencies, bitcoin down 50% from the record high, that is not reflecting ticket prices to get into these events. the tickets, the consensus going up as much as $3000 for one ticket to get into here. james bullard, speaking. he said the twitter ceo is speaking. it will be a ripple after party, headlined by snoop dogg in a meatpacking.on in
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but the hype is very much there. i wonder if we will see a spike in cryptocurrencies as well to correspond with this, but we will be watching that in the after party action. to's get it over to yvonne take a look at what is coming up on daybreak asia in the next couple of hours. yvonne: we are taking a look at what will happen here when it comes to the u.s.-china trade negotiations. the investors are going to washington. a stunning reversal, trump helpings etf bringing back jobs for china. we will talk more about that .ith that gbh insider this seems to be a good all of france when it comes to the trade talks coming through this week. we will talk about that list. the msci, the shares included in the index. the asian equity portfolio
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specialist joining us with his reaction. day, finally. in a long time coming for the chinese investors. that is it for daybreak australia. ♪
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♪ it is 7:00 a.m. in hong kong, we are live from bloomberg's asian headquarters, welcome to "daybreak: asia." korea,eers in north trump officials say the u.s. is ready to invest but only when the nukes have gone. president trump does an about turn on china. he is going to help the t stay afloat. betty: i'm in new york, it is after 7:00 p.m. on sunday. malaysia sales in uncharted waters. economy corruption, missing money top on the list.


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