south korea is also in the top 10. this week's data expected to show cpi will rise above 2%, which would bolster the case for a rehike this year. shery: and of course we continue to watch as those implications on inflations, central-bank decisions, mean for the broader market. as we continue to head down across asia we are talking about the nikkei. being at the lowest level since august. it is seeing its worst day since june already and falling for a seventh consecutive session. we're seeing the japanese yen holding at that 110 level while the kospi is now on track for a correction, falling about 10% from its july record, its worst day since february. not surprising given we continue to see that pressure on tech with valuation concerns, not to mention those ongoing hearings in parliament. also downside for the asx 200 and stocks. coming up, we get the outlook for china's real estate sector amid fears of evergrande contagion with the head of property research. haidi: that is it from daybreak asia. markets coverage conti

you want to watch south korea. it matches what we saw on official export data as well that missed expectations showing slowing in momentum for the south korea export story. that generally is seen as a bellwether for where global trade is going. but for the rest you mentioned vietnam, it has obviously rebounded out of contractionary territory. that reflects the easing of lockdowns there. factories were shut down there, and are now getting up and running again. taiwan pushing higher as well, suggesting the technology demand story rains in play. when you step back from the pmi's you have to say, hang on, china's manufacturing sector is cooling, south korea's manufacturing sector is cooling. the two bellwethers as far as the trade store is going. haidi: there is that confluence of factors putting stress on the chinese recovery. are we expecting the same picture to play out with the taper numbers today? enda: i think so. the dynamics at play in china are pretty powerful. you have this energy function which is hurting ma

data due from south korea. the philippines and thailand a pickup in prices is expected across the board. and in south korea, inflation is likely to stay above 2% for a sixth straight month as demand side pressures also add to the case for tightening by the b.o.k. next month or perhaps even this month. and the bond market is pricing for three rate hikes totaling 75 basis points next year in south korea and pulling up the board, korean small and mid caps could look for -- more appealing in the rising rate and steadying growth environment in contrast to larger peers that happened way down -- weighed down by regulatory concerns over tech which is on watch amid the parliamentary hearings going into which saw internet giants neighbor and cacao lose billions in a market cap and for the losses -- further losses could be seen when south korea returns from the long weekend this tuesday with inflation anxiety also weighing on tech. and with that, slipping the board ahead of the open, across asia, early in the session, we

kathleen: busy earnings counted from south korea. sophie: bitterness production partner for the co-vaccine in south korea paid we are expecting we could see some weakness what it comes to profit on the supply chain disruptions of hit the auto industry. we are keeping an eye on this and so after they missed their earnings miss to third quarter two to the recall for batteries and the impact from chip shortages on shipments for the company. going forward, we expect they will have soaring prices. we are looking at the wider ev space. battery makers after test was hurts order speaks to the broadening access to ev. you're watching suppliers like panasonic in particular, after announced plans to roll out a cheaper battery. haidi: market opens comes up next. we will have the latest. we will see how investors are taking a look at those sk hynix results as well as gdp numbers from korea. this is bloomberg. ♪ kathleen: hello and welcome to daybreak asia. sophie: i am in hong kong. haidi: taking a look at the major markets opening in asia. our

. ♪ haidi: payoneer and coupang have teamed up to more easily expand into south korea. sellers in their ecosystem will get faster access, greater flexibility, and managing payments. let's discuss and bring in the ceo of pioneer. tell us about this tie up and what benefits you are expecting it to bring in in terms of the lucrative next of the south -- lucrative nests -- >> south korea is one of the most exciting e-commerce markets globally and one of the top five markets in the world. coupang is a market leader and have a demonstrated obsession with serving their customers and we are really excited to partner with them to help them expand the scope of the products they are offering to their customers in south korea. it is a great opportunity for us to expand the opportunities for our small customers around the world looking for more ways to access more customers in more markets. coupang has i believe 17 million customers that engage with them on a regular basis. well over $10 billion u.s. of annual sales. all growing very quickly as they continue to help the south korean

>> south korea -- the company share is rising 1% today. it has since given up half of the gains since the market opened. analysts -- despite the sharp fall from its peak. we -- they also have a 12 month price target that represents 40% of returns from the current price. the reason behind the rating is they see that samsung will continue to see strong demand for its chips recovery and foundry business will also continue. the expensive smartphones are also seeing strong sales. the key for the samsung share is whether the foreign investors will make a comeback to south korea and given that the weakness in the local currency, we may have to wait and see until that happens. and if the long term, that is the way the analysts see the stock has reached the bottom should shery: they be the only way is up. great to have you on our ages stocks reporter with the latest on samsung. let's get to su keenan the first word headlines. su: we start with former u.s. treasury secretary steve mnuchin. he is warning about the risk of breaching the u.s. debt ceil

in south korea, lgl electronics do to release earning guidance for the third quarter. there is also samsung electronics vice chair accused of using illegally. preliminary export data do around the top of the hour. plus, we are expecting a policy decision from the be ok front and center. the bank of korea decision expected to keep policy on hold after stepping out in front of most other central banks in august to raise its key interest rate. kathleen hays is here with the preview. what matters most today? kathleen: clearly, it's what the bank of korea says what they signaled to us about a future rate hike. at this point, they are not expected to do anything but to rest after their rate hike. astana's -- it's not a complete surprise, but they went ahead with the 25 basis hike. let's take a look at the chart. the bond market. you look along the top, that orange line along the bottom is there key rate at 0.75%. look with the three year bond yield is doing. steadily climbing, suggesting that investors are saying, we know you will raise rates again. maybe not in october, but

in countries like south korea and china, to see any connection with the government is a --. by making an offering there, it sends -- it causes concern in other parts of asia about -- what they often whitewashing japan's past militarism. it is not a good start for diplomatic relationship this early on. >> we saw the -- after shinzo abe lost. what other big challenges? what are the issues as we see the recovery from the pandemic of the multiple rounds of state of emergency. >> for the voters, the voters are looking for new types of leadership growing the economy and containing coronavirus. kishida is basing his campaign so far on economic redistribution, but in terms of the -- you mentioned earlier, people are much more interested in economic growth than his redistribution policy. it does not seem to be resonating with voters. he asked just a few days of turning things around and he will see if he can get more people on board but these policies to boost salaries and make sure the fruits of the economic gains are spread more widely. >> john herskovitz with the latest. here's a

we do have some data to digest from south korea cpi. coming in at 2.5% boosting the case for a be ok rate hike. the korean you on is -- the korean yuan is gaining ground. ahead of the rbnz decision, we have the kiwi dollar slightly under pressure. we could see declines should the rbnz choose to delay an anticipated rate. in sydney, adding 210 seven percent. financials are under pressure after the banking relator tweaked criteria around loan buffer requirements. check out what is going on with loan prices extending a rally at a 70 year high. while we are seeing the rsi for brent among 70, there is momentum that could be extended. goldman saying we could see the appetite for a $650,000 barrels a day going into the end of the year. food prices are seen hurting consumer spending. headaches for policymakers from around the world including japan. shery: our next guest has been adding exposure to japanese markets. valuations in korea look more reasonable given the recent correction. james is head of the multi-asset for aipac. great to have you

shery: the open in japan and south korea. take a look at downside pressure on the nikkei and topics at the moment as we are now seeing some markets, some sectors leading the decline. health care consumer staples leading the decline. energy and real estate is gaining ground. we are reversing two sessions of gains already in the week but still at around those three weeks highs. the japanese yen still holding at that four year low against the u.s. dollar. traders really adding rate hikes and higher oil prices weighing on the yen given that japan is a net energy importer. that could be expanding japan's deficit. we are watching the jd bees as well because we have seen 10 year yields around the highest level since april, given the global bond selloff. take a look at the kospi right now. also under pressure. this coming out a time when the korean won has risen to a three week high. we are seeing against the u.s. dollar, losing ground as the kospi in the cossack fluctuating between games -- gains and losses. health care amtek weighi

coming up, south korea's battle against big tech. lawmakers get set to crackdown, women company for widening -- blaming them for a socioeconomic divide across the country. we will have details on that, next. this is bloomberg. ♪ emily: korean lawmakers have kicked off a parliamentary hearing into the country's internet giants. companies are accused of abusing their position and squeezing small businesses. south korea's crackdown on big tech a similar to this for me on family-run conglomerates. i want to bring in shery ahn. what can we expect? shery: we are going to see five weeks of grilling of these big tech giants in their ceos. we are talking about a busy night tonight in korea, the national policy committee will be talking to the heads of the companies. the committee will be handling google korea, apple korea, facebook among others. one lawmaker dubbing kakao a symbol of greed. they are echoing public sentiment, blaming them for widening the socioeconomic gap because they have been expanding into areas that were previously domi

rishaad: south korea has also been involved as well. they have been taking action on domestic tech players. this is drawing parallels with what happened with china. google is the latest to feel the heat here. we caught up with the chairperson of the fair trade commission and we have an exclusive interview. >> we are going to see what they make. we are actually investigating this. in the case, there might be a hampering of storage. after the investigation is completed, our deliberation process could start shortly. we are investigating the physical entirety. also, payment services as well. >> it seems south korea is taking the lead in laws -- what are the priorities in terms of tech regulation? do you have any specific goals? >> online platforms are players of innovation. for us, our top priority is to maintain the market. in order to maintain the innovation in the market, we have tried to intervene the market. this is to protect our competition in the market. at the same time, in order to enhance an invasion in the market, we are trying

david: breaking news out of south korea. this is on that rate decision we just had, it was not unanimous. two members opposing. yvonne: i think it is a sign that november is pretty much live now when it comes to the next rate hike. it will not address the debt issues and the physical rebalancing that they need to do. they will decide whether to hike rates at the next meeting. there you go. rishaad: we have more coming from the bank of korea governor after. more on the first word news. we joined vonnie quinn. vonnie: the decision is made, the imf has decided to keep kristalina georgieva as managing director, reaffirming full confidence in her leadership. they had been examining allegations of improper actions during her time at the world bank. treasury secretary janet yellen said in the last few minutes, there was no basis for a change in imf leadership. kristalina georgieva also one support from the u.s., france, and the united kingdom. southwest airlines has apologized for canceling more than 3000 flights over four days. th

is that a fair assessment when looking at south korea and their approach to big tech? >> i think that is absolutely right. it is really quite simple. one of the things we have identified in the research we published last week is the struggle between the u.s. and china has moved away from a rivalry and much more toward an ideological struggle, really started by president xi himself. what that means is if you look at the regulatory environment in china, a lot of what is going on with the big tech, it is driven down from the top and it is the ideological change in china that has driven quite a lot of it. if you flip to what is going on in korea, it is much more similar to the economic concerns that regulation in the eu focuses on. what you will find is that any regulation that comes down and south korea will be much more like something that the eu would do and much less something that is going on in china right now. tom: where do you think we are in china's regulatory scrutiny, in that process? are we halfway through, are we near the end? do you have a clear sense? >> wha

japan and south korea coming online. take a look at what is happening with the markets, the nikkei unchanged. real estate weighing on the index, but also energy and health care gaining ground. we have wti above $82 a barrel. the topics unchanged, but we have the japanese yen holding at the 100 13 level. a narrow range trading this week when it comes to the japanese yen. we have seen jgb's rallying along with overseas debt markets. overnight we had the boj holding steady on policy, but lowering growth and inflation forecast. we did get japan's september industrial output really underperforming estimates. a contraction of 5% month on month. similar story in south korea. industrial output fell 1.8% year on year, missing expectations. the kospi is gaining 0.5% after two sessions of losses already. the korean won gaining ground against the u.s. dollar. a bit of a difficult week for the won. it will be difficult to rise as stagflation fears are there. we did see bond yields surging. we continue to watch the gyrations in the bo

shery: ongoing tech hearings in south korea, the talk of the new capitalism in japan. how spooked should investors be, given we have to the common prosperity drive in china? >> with japan in particular, it is almost like back to the future. we've had this notion of capitalism locally. this goes back to the 10,000 yen notes coming next year. he was in favor of this idea of capitalism with a human face. collective capitalism. good countries should not just look after the shareholder, but employees, immunity, and society. it really ties in with esg. i think investors can clear it, but they need to be mindful shareholders would not be the only priority. for that reason, dividends will become more important whether to be invested or not. shery: how important is dividend growth, especially when we talk about equality, also prices rising for consumers? that is really not helping. when you have inflation concerns, how important is dividend growth? >> from our perspective, if you've got a bunch of policyholders looking to receive an annuity income as a hedge of inflation, in co

south korea expressed deep regret. it's president has been a proponent of reconciliation with north korea. it is deeply concerned about what is going on in the north because it is developing these weapons, which are designed to strike primarily japan and south korea. rishaad: thanks a lot, john herskovitz. if you bits of news coming out of vietnam, the prime minister thinking that export growth will be about 10% higher this year than last year. inflation will stay below 4%. there's been a lot of consternation in vietnam about the number of people who left the urban centers and resulted in the apparel industry facing a 50% worker shortage. ho chi minh city, 230 thousand workers returning to factories. that is better news for the supply chain. rishaad: at least we are seeing some good news given that some things are reopening. we are looking at china property. we are waiting for clues on the dollar payment. new home prices that came out earlier this morning, prices falling for the first time since 2015, so it goes to sho

shery: japan and south korea coming online. sophie, how was the open shaping up? sophie: the nikkei futures higher by .3%. we are seeing the likes of adventist gaining ground. chip related players. yen trading above 114. ahead of of the 20 year bond sale out of japan, we do have it gaining some ground. some reversal that we saw as of late. in korea, laptop and audio component makers. keep an eye on chipmakers. we are coming down to the report card due next week with sales maybe lowered by weak chip prices. the korean won is gaining ground, trading below 1186. ahead of the rba meeting at the bottom of the hour, goldman out with a note saying they predict home prices in australia will peak next year. the property market will be closely watched and whose around the minutes will be anticipated along the tightening path for the rba. with that in focus, we are seeing bear planning for aussie bonds. taking a bit of a breather this morning with a 10 year yield now heading lower by about two basis points. when it comes to cash yields opening from the u.s., the 10 year is l

south korea has released a statement expressing concern with the scope of the u.s. request. a pboc governor says that china will continue steps to curb monopolistic behavior among tech companies and strengthen consumer data protection. the central bank will also tighten regulation of the payment sector. he asks all financial services companies to be licensed. this mirrors actions taken recently against alibaba. global news 24 hours a day on air and on bloomberg quicktake. powered by more than 2700 journalists and analysts in over 120 countries. this is bloomberg. shery: it's time for morning calls ahead of the asian trading day. >> we are seeing preliminary earnings for the third quarter. citibank expects a solid report card. over at citigroup, the chip unit is set for a robust recovery going into year-end. paul: tesla is hosting its annual shareholder meeting as we speak and its new factory in austin, texas. let's get to our auto reporter for the latest. austin is going to be the new home for tesla. in real terms, what does this mean? >> that's the big new so far, that tesl

south korea successfully launched a home developed rocket. the 200 ton liquid fuel rocket lifting off the southern coast, then released a dummy satellite into orbit. south korea sees its rocket program as boosting competitiveness in six g communication while attracting attention from neighboring north korea adds to its missile arsenal. that does it for this edition of "bloomberg technology." tune in tomorrow, we are here with intel ceo pascal sutter to talk about -- i love talking to mark. i am emily chang in san francisco. this is bloomberg. ♪ >> the following is an important paid program by humana medicare

south korea meanwhile is set to launch a home developed rocket on thursday. the rocket carrying a dummy payload is scheduled to lift off at about 4:00 p.m. local time on the country's southern coast. south korea sees the program faulting its competitiveness, while helping put more eyes in the sky is the north adds to its own arsenal. global news 24 hours a day powered by more than 2700 journalists and analysts in 120 countries. i'm su keenan. this is bloomberg. david: eight out of the 11 sector groups are up, led by energy. commodities also leading unsurprisingly. yvonne: taking a look at when it comes to thermal coal futures in china. we are a little bit down once again for a second day on the prospect of beijing weighing these intervention measures to try to tame and stabilize supply. also, they are trying to fight speculators out there as well. there is a lot of speculation out there whether this is going to last very long. given how the metals rally has taken a bit of apposite, but we see copper. >> let's get to our next guest. joining us from singapore,

south korea successfully launched a rocket today. the liquid fuel rocket lifted off from the southern coast and released a satellite into orbit. south korea sees the program as strengthening its competitiveness in the next generation 60 communications while attracting attention as neighboring north korea -- in the next generation communications while attracting attention from neighboring north korea. global news 24 hours a day, online and at quicktake on bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. i'm mark crumpton. this is bloomberg. amanda: welcome to "bloomberg markets." matt: we welcome our audiences each day. here are the top stories we are following from around the world. the latest on the ongoing supply chain crisis. live updates from the second busiest container port in the united states of america, the port of long beach. vita coco makes its public debut on the nasdaq. we will discuss and get an outlook on the market with the founder, mike kirban. volvo group releases the first fossil

south korea has also released a statement expressing concern over the scope of the u.s. request. global news 24 hours a day on air and on bloomberg quicktake powered by more than 2700 journalists and analysts in more than 120 countries. i'm su keenan. this is bloomberg. yvonne: just an alert crossing the bloomberg right now. the house majority leader talking about that bill that needs to be passed in the house now after the senate voted a couple of hours now to extend that debt limit. they are going to be convening on october 12, next tuesday, to pass that stopgap measure. david: sleep well, you guys. don't worry anymore. borders have been tightly shut. our next guest joins us to talk about airlines, shipping, and everything in between. yvonne: and we talk about why a high-yield market in china could be a buy. we will see if that is still the case. this is bloomberg. ♪ yvonne: after months of resilience in the face of concern over evergrande, you can take a look at china's over $12 trillion domestic credit market. david: we were looking at the range of engagement. the onshore/o

travel lanes with south korea will start on november 15. ubs is pushing back on concerns about china growth as it plans to keep spending. the swiss lander's profits jumped on the back of wealth management needs an investment bank returns, but it's asian wealth business saw almost $2 billion in outflows. the ceo told us he is still optimistic about ubs's business in china. >> absolutely. we know the country very well. we are very successful both in the onshore and offshore business. we have a very good combination of businesses, wealth, and asset management, and we plan to invest in them. paul: china released its official roadmap for capping carbon emissions before 2030 just days before the cop 26 climate summit begins in glasgow. the roadmap provides some detail on how beijing plans to deliver on its promise to be carbon neutral by 2050 it has. plans for sectors ranging from hydropower, to oil refining. global news, 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countri

it dipped to $6.2 billion behind south korea for the first time in four years. myanmar's military leader will be barred from a inning later this month. this the biggest rebuke since a military toppled their civilian led government. the ted members southeast asian block has been under international pressure to force member state myanmar to hold subsequent violence that has killed 1100 civilians. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. i am vonnie quinn it. -- quinn. haidi: they will say smaller than expected budget deficit over a recovery in the nation our conversation is just ahead. this is bloomberg. ♪ >> the worst of the viruses impact on the economy is likely behind us but we obviously, have inflationary pressures, particularly on wages. we have an active debate around infrastructure spending and fiscal spending in washington, potential tax increases. we have eight complex dynamic with u.s. and china. there is still some uncertainty around the delta vari

shery: south korea, big earnings. s oil profit coming in above expectations. samsung engineering reporting and operated profit for the third quarter that beat the average estimate. we are following samsung given the latest results. haidi: we are nearly at the midpoint of earnings season in china. thursday, more than 30 companies will report and banks could see a revenue boost a provision risks. byd carmaker is one to watch. investors will be keeping and i out for the potential of price through from price hikes. and we will be listening to commentary about the global energy crisis. daybreak asia is just about done. at coverage continues. -- market coverage continues. moving is a handful. no kidding! fortunately, xfinity makes moving easy. easy? -easy? switch your xfinity services to your new address online in about a minute. that was easy. i know, right? and even save with special offers just for movers. really? yep! so while you handle that, you can keep your internet and all those shows you love, and save money while you're at it with special offers just for

south korea has successfully launched a home developed rocket. the 200 ton liquid fuel rocket lifted off from the country's southern coast, then released a satellite into orbit. south korea sees the rocket program as bolstering its competitiveness in next-generation 6g communications, while neighboring north korea adds to its missile arsenal. and he has given out one billion doses of covid vaccines, but while 51% of the entire population has received at least one shot, only 21% are fully vaccinated with two doses. that could mean more outbreaks in the country that earlier this year experienced one of the world's most of us stating virus waves. in england, the government has been accused of being willfully negligent by not implementing its plan b to tackle rising coronavirus cases. the british medical association says measures are needed to avoid further pressure on health services. the government wanted to avoid bringing back tougher measures, concerned that daily cases could rise above 200,000. he also warned people to get vaccinated. chip short

hikes in norway, brazil, south korea, new zealand, will the bank of england join in? tom: this goes off of the jobs report, full employed america, fully employed united kingdom. central bankers are under pressure not to be legislators. the backdrop is there going into this with the fiscal impulse that is drifting away. tom: let's talk about the growth import -- jonathan: i have more people downgrade growth expectations that upgrade. goldman joins in. kailey: yes they did for 2021 and 2022, the thesis consumer spending will be delayed due to the ongoing pandemic and the pullback in fiscal policy. we are talking about delays, not necessarily growth lost. they also saw the making up for it in 2023 and 2024. jonathan: can we get an early guest promo? jan hatzius, 7:30 eastern time. tom: he has migrated down. he has been adjusting into this and the vector that all of our listeners and viewers are worried about is the vector of q4 and then the next year he has little bit of optimism versus some of the caution right now. jonathan: the chief economist from goldman sachs 90 mi

perth: i think we are continuing to be bullish on taiwan and south korea. they have a very strong export sector so key exports to world manufacturing and tips and other things. they are leading the charge in the decoupling from china by moving manufacturing out of china into other emerging and developed markets and indonesia also has a lot to benefit from this. they have a very favorable demographic and lower debt ratios to help them be more resilient in a market like this. indonesia, taiwan, and south korea would be our top three choices to decouple from china. kathleen: in terms of china, i want to come back to the question of what is going on with evergrande but broaden it out because some people look at this common prosperity coinciding with politics. it this is a way to make sure within the party itself, he is reaching out and getting support for people broadly so that the leaders in the party want to support him as well. is it possible if he does keep his power position next year, he could pile this policy back to say i guess maybe we went too far and

and south korea has long been known for its manufacturing. now the netflix hit "squid game" is taking the country's cultural clout to another level. the show is about indebted people, people in debt, fighting for survival in a deadly game. it could help south korea's cultural exports become much bigger contributors to the economy. coming up cisco chair and ceo chuck robbins joins us to talk about the company's report on how the pandemic has changed the way we work permanently. he joins us next. and as we head to break, let's get an update on wework's path to the public market. the company said its september revenue hit $220 million despite delays in the return to the workplace. the company is preparing to list on the new york stock exchange via spac. this is bloomberg. ♪ (announcer) looking for a better way to lose weight and feel good? how about the one with the 98% success rate and the more affordable weight loss solution? that's golo. there are no monthly fees and it's guaranteed to work or you don't pay. how can golo offer all of that?

which is expected to stand pat. 10 out of 11 forecasters expecting that from south korea today. which could boost bets for a move next month with policy normalization a key priority for the central bank as it faces increasing financial balance risks and inflationary pressures have stayed high in south korea staying above 2%. the b.o.k.'s target there. shery. shery: many countries facing that inflation pressure of the let's get over to vonnie quinn with the first word headlines. vonnie: thank you. european governments are lang toward backing i.m.s. managing director kristin yorfa. to decide on her future after allegations of he will proper actions during her time working at the world bank. a european official told bloomberg countries including france and the u.k. say they don't see clear evidence against her. southwest airlines has apologized for canceling more than 3,000 flights over four days. the dallas-based carrier said a shortage of workers overlapped with storms and an air traffic control interruption. executive vice president bob jordan denied claims that pilots were stag

behind south korea for the first time in four years. global news, 24 hours a day, on air and on bloomberg quicktake, powered by 2700 journalists and analysts in more than 120 countries. i'm vonnie quinn, this is bloomberg. ivanka: take a look at live pictures out of beijing. the china national bureau of statistics talking about the data dump we got out of china. third-quarter quarter gdp number, which did miss. to talk about more of their outputs and commodities as they see that this crisis is consuming to that drag down in growth when it comes to the october/september numbers when it comes to third-quarter gdp. i think it has surpassed economist out there just how severe this energy crisis has had with the property slowdown on the economy. for bloomberg groups -- subscribers, check out live go as it continues. let's bring in our guest. what we are expecting out of the fourth quarter, let's bring in the doctor. rishaad: the effects and ubs global wealth management. when you see the prices up from last monday, 25%, looking at base metals

we continue to watch the moves in south korea and japan. of course, we have the be ok rate decision this week in korea as well and we are also waiting on coronavirus cases to get a feeling of what the pandemic, how it is spreading across the region. paul: let's take a look at how they are doing on the asx. a bit of strength, higher by 6/10 of 1%. it has pulled off a little since then. one of the weakest performers on the asx today is an investment company slumping 11%. reporting outflows for the first quarter of $2.3 billion. a lot of volatility giving rise to rebalancing of portfolios. overall, stronger, better in new zealand as well to the tune of 1/5 of 1%. coming off the boil after a bright opening. the dollar, one of the best-performing g10 currencies. $.70 against the greenback right now. not much to change for the aussie. shery: we are seeing a risk on day across asia right now with asian stocks also at a two-week high. let's bring in the asia-pacific senior market analyst. we are seeing bullishness. we had small corporate earnings h

but if deterrence fails, we are determined to fulfill our treaty obligations with south korea. so far since 1953, the deterrence has worked and we are hopeful that will continue to work. francine: north korea, russia, in the united states. cyberattacks, we don't know if they come from the military. can you make america feel good that we have cyber capabilities just as good as the ones attacking us, i assume nobody has better cyber capabilities than we do. is that fair? gen. milley: i would say that we are the world's number one capability in cyberspace, but i would also tell you that china and russia are very, very good, as well as many other countries. in terms of defense, when the internet and the cyber world first developed, people weren't thinking of it as a domain of war, in terms of setting up architectures that were robust for defense. those days are gone now. years ago we started working on that, and we have a long ways to go. but we need to make our critical infrastructure, our financial systems, for example, our electrical systems, and many other pieces of our nationa

in south korea, kakao pay will fix its price. the ipo price will likely be set at 90,000 won. an interesting story about the generational feud likely to manifest in the upcoming elections and south korea. younger voters calling themselves the "give up generation" as they grow frustrated with the pace of change. in japan, progress on the virus front. cases have significantly dropped nationwide and authorities are looking to open more parts of the economy. we are watching how the yen will move. the fx markets reprice the central bank moves. and another eco-data point to watch out for. pmi coming out from jibun bank. services contracted at 47.8. we will have a big interview in the next hour with ranil salgado . paul: let's stay on japan. a long-standing and sometimes violent position with second and third generation koreans that have been thrust into the spotlight. the fuji employee sued when a homebuilder did not put an end to the distribution of leaflets that had racist content. for more on this, let's bring in hwaji shin, an associate professor at the university of san francis

we are getting south korea's august current account numbers. we are seeing goods trade falling to 5.6. we are also seeing the current account narrowing to $7.5 billion. that would be 7.512 billion. this after widening in the previous month. not that surprising given that way -- we have seen export starting to slow down. in the previous month, we had seen double-digit gains but not as high in the 30% gains that we saw in the past few months. the current account balance starting to marrow -- narrow at $7.5 billion. haidi: we are seeing tepid gains in the first few seconds of trading in sydney. let's get you straight to the markets with sophie cameron. sophie: a two day drop for aussie shares. stocks opening higher. a report that china has released australian coal to manage the power crisis. the u.s. may release emergency oil can -- reserves. wti extending losses by 0.5% after launching the biggest drop in two weeks. keeping an eye on energy names in australia. when it comes to the bond space, we are seeing aussie bonds gain for the first time in

korea. many countries have been adopting very strict policies and asia. singapore and malaysia easing travel restrictions. travel -- airlines jumping to a june high. singapore announces 11 vaccinated travel lanes. air asia at a 20 month high. positively flowing through into a number of reopening plays, including a casino and resort operator in singapore. manus: you know the instructions, dust off that passport, i feel a flight coming on. juliette: it is dusted. manus: it is ready for action. thank you very much, we will return in a moment. there is a narrative from the bank of england, to officials reinforcing the market bet that the u.k. rate hike might be imminent. andrew bailey is the governor, doubled down on a possible policy mood amid rising inflation risks. let's bring in daniel, tracking the story. a clear message from the governor and from saunders. is there anything that could delay the bank of england from hiking? daniel: sure, they could decide at the end of the day that the infl

south korea has long been known for its manufacturing. now, the netflix hit squid game is taking the country's cultural clout to another level. the show is about people in debt fighting for survival in a deadly game. korea's cultural exports could become much bigger contributors to the economy. coming up, chuck robbins joins us to talk about how the pandemic has changed the way we work permanently. as we had to break, let's get an update on we work. the company said its september revenue hit $220 million despite delays in the return to the workplace. the company is planning to list on the nyse via spac. it's moving day. and while her friends are doing the heavy lifting, jess is busy moving her xfinity internet and tv services. it only takes about a minute. wait, a minute? but what have you been doing for the last two hours? ...delegating? oh, good one. move your xfinity services without breaking a sweat. xfinity makes moving easy. go online to transfer your services in about a minute. get started today. (announcer) the core is key to losi

south korea's military described the weapon as one designed for simmering base to launches. it is the latest in a series of tests from the north korean leader's regime. it came hours after the u.s. reaffirmed its offer to resume diplomacy on north korea's nuclear weapons program. in russia, officials are taking steps to battle a surge of covid-19 infections in the capital. at the moscow mayor said today that unvaccinated people over the age of 60 should stay-at-home for four months, beginning next week. moscow will also include a percentage of workers facing mandatory vaccinations and reintroduce a work from home requirement for at least 30% of employees until february. ireland will drop more virus restrictions this week, although it will retain rules that had been planted because of a surge in covid cases. the prime minister said today that capacity limits have been lifted for outdoor events, weddings and religious services. people must show proof of vaccination to enter bars and restaurants. their covid numbers have almost doubled in the past two weeks. the u.k. will allow

we see big ones in japan, south korea on the back of the scoop that the company is set to cut iphone 13 production due to supply chain issues. rishaad: we are looking at 19 million units. 10 million less than what the thinking is currently. these are some of the apple suppliers for the supply chain that is very much under a bit of pressure right now. yvonne: let's get to debbie wu, the order who broke the story. is this much of a surprise, given the supply chain we have seen for much of this year? >> i have to say it comes as a surprise because apple is the biggest bar of semiconductors in the world. and it comes to procuring components. but now we are seeing the chip shortage affecting apple's flagship products. consumers after weight a month before they can get their hands on the iphone seven after the late stage orders. rishaad: is there any particular element of this semiconductors. is there any other part of the supply chain partly responsible for all of this? >> apple is being hit with insufficient supply from to u.s. makers. that's texas instruments and qualcomm. they supply a

a request for information has faced resistance and south korea and taiwan, with a concern about a possible leak of trade secrets. apple lost about $100 billion in market value thanks to thursday's results. the message from tim cook to investors, the holiday season will be difficult. no thanks to supply constraints. tim cook: for this quarter, we think the primary cause of supply chain-related shortages will be the chip shortage. it will affect, it is affecting, i should say, pretty much most of our products currently. emily: i want to bring in mark gurman. what does it mean for apple? will it get worse before it gets better for apple? mark: absolutely. they said they took a 6 billion dollar negative revenue hit for the fourth quarter because of the chip shortage and other issues. essentially, tim cook was saying if not for the chip shortage, we would have at a record q4 porter. he sang the negative impact will be larger than $6 billion. apple will have a year-over-year gain in overall revenue. last year, they reported $111.4 billion in revenue, an all-time record for the holiday quarter. a

resistance and taiwan and south korea. chevron posted the biggest profit and more than eight years refining -- eight years. chevron is now considering whether to increase its share buybacks. microsoft is on pace to beat out apple to become the largest company by market value. microsoft -- during regular trading hours. the software giant would have a market cap beating apple. the last time microsoft dethroned apple was in the third quarter of 2020. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. ♪ >> we should ask ourselves at one foot -- at what point we say, look, it's time to consider ourselves having turned the corner? that's a move in the right direction. >> david doughty, it's -- david dowdy. maybe john is in rome. maybe he is at the vatican. i'm not sure. we welcome all of you. the president of the united states meets with -- and first lady meets with pope francis. a conversation with bruno lemaire, a po

downgrades being led by scalia, south korea and some parts of aussie on. we are seeing that slow down for consumption weighing on sectors a lot of consumer staples. it is real estate where we are seeing the most red flags around earnings. in light of the weight of the sector giving. we are surprised that we have a slowdown in china's property market such as ever grand when hsbc reports earnings this monday. with a quick check on the us trillion bond market. this after they had to defend its bond target on friday. we are seeing some flattening of the 310 curb with inflation top of mine with their data do this monday. kathleen: let's get over to sue for the first word headlines. su: japanese minister -- prime minister loss some folks that were serving a support ahead of the general election in hk and kiddo news projections, liberal democratic leaders candidate to have been beaten. he has tried to win other votes in the upcoming national vote with a pledge to provide massive stimulus package. nancy pelosi open the door to democrats using a special budget tool