Listen: Bloomberg, China, Juliette Sally Doug Krizner discussed on Bloomberg Daybreak: Asia
"Singapore on Juliette Sally Doug krizner at Bloomberg interactive brokers studio in New York, kind of a mixed picture for equities across the Asia Pac region, we had no trading in US financial markets. We were closed for the Martin Luther King junior day. And as such a note trading in bonds until now. Now in the Tokyo session with the yield on the US ten year treasury at two point seven seven percent. We'll take a closer look at market action in a moment right now. This hour's top business stories. Well, the IMF is warning global economic growth will slow the weakest in three years. It's blaming slowing European growth market, volatility and central Bank tightening. But Bloomberg's Andrew my says even saw the lender is still forecasting a slot pickup in global growth next year. They're stopping short at this point of of Saint at the world is about to enter a major downturn. If you look at their numbers, it looks like they're predicting more of a soft landing. The IMF also full a p copying Japanese growth, thanks to fiscal stimulus and also sticking with projections for the US and China at it still forecasting that India will grow seven point. Three percent. Meantime, we're hearing China is stepping up fiscal support of the at Seekonk by boosting the quota on provincial borrowing. Now the plan we are told is to increase issuance of so-called special bonds by. Sixty percent to around three hundred seventeen billion dollars. However, this plan still requires final approval. Taiwan reporting a dramatic drop in export orders. They slid ten percent in December from a year ago. Taiwan's economic affairs minister says a drop in demand for high end smartphones had a ripple effect in the supply chain. President Trump has tweeted that China's economy is slowing and therefore it makes sense for China to do a real deal on trade. That's afterward that the two sides are still far apart on the issue of intellectual property now. The Trump administration has accused Beijing of sponsoring intellectual property theft. And for the other side, they have denied it vehemently. Well, a victory for a Vancouver. Trump in China. Beijing has granted the first old has company. Preliminary approval for another five trademarks this month four trademarks, including childcare centers, sunglasses and wedding dresses were approved over the weekend, a fifth covering brokerage, charitable, fundraising and art valuation services. Got the thumbs up earlier this month the first daughter. Expanding intellectual property holdings have raised ethical concerns, especially amid U S China trade tension. She closed her fashion brand in July. But rep say the trademark filings are needed to protect her from copycats the five trademarks could be finalized within ninety days. Mark mills Bloomberg daybreak Asia. We go to Japan next where Takeda pharmaceutical is considering a massive asset sale. Bloomberg's Denise Pellegrini. Tells us emerging market drugs are front and center, suck obeys Takeda said to be considering selling certain over the counter and prescription assets it acquired the drugs through it's twenty eleven purchase of it's Swiss rival Nike, and we're told that together these assets could be worth about three billion dollars that could help the Japanese drugmaker cut debt following at sixty two billion dollar takeover of Shire. Earlier this month. We're also hearing Takeda's working with Bank of America to gauge investor interest for the assets. Denise Pellegrini, Bloomberg daybreak Asia. We'll send breaks at related developments as well. With. CK markets moving out of the U CMA groupies relocating its forex forwards and swaps venue from London to Amsterdam and by global shifting mice. European equities trading there as well after Brexit CME has already moved some other operations. There are at thirty four past the hour. Bryan Curtis is in Hong Kong looking at price action here. So I'm not seeing a lot of positivity. But the the losses aren't that substantial. Are they today where we're giving back a little, and I think a lot of bullets would be happy with this clear out some of the ribbon clues as you were the Nikkei says is the bad joke. The Nikkei is down a tenth of one percent. Asx two hundred used to play poker with a guy who used to always say that anyway. X two hundred down a quarter of a percent. We're also moving little bit to the downside down three tenths of a percent. In Seoul, the kospi. We did have some reasonably encouraging economic data out South Korea that was fourth quarter. GDP expanding one percent quarter-on-quarter. He estimate not point six percent. And then annualized it was three point one percent. And that was stronger than the two point seven percent. And I have a couple of interesting notes that are slightly positive in terms of views not fitting with the selling today. The Hong Kong fifty day moving average just crossed above it's one hundred day average, and that's a bully signal that has proceeded multiple rallies in recent years when both momentum indicators arising and gamma investment says now's a good time to be building positions in Chinese automaker. Stocks saying that valuations are near historic lows government stimulus will be up powerful catalyst some of the big names last year down thirty to fifty percent. And here's an interesting take from your Isan s. L J capital at the consensus view on the US China. Trade war will be a one hundred eighty degree miss with a more open China rather than a more closed United States as the end result saying that the consequences of the opening will offset the negative drag from weakening demand within China. And ultimately that will prove to strengthen the global economy. All right. Let's take a look at currencies. The Bloomberg dollar spot is flat. The doll yen one nine fifty eight yield on the ten year now down to two seventy six and the oil price pretty firm up there at fifty three ninety three a barrel. Juliette to you the best part about you laughing at your drugs. Brian is that I don't have to just kidding. Let's get to news. Now. China's president Xi Jinping has warned China's top leaders of serious dangers in the current global environment. Ed Baxter is coming all the global news in the Bloomberg nine sixty San Francisco newsroom. Ed, you're tough. Juliette? This was an unusual meeting of the top echelon of power. She telling. The leaders of the communist party needs greater efforts to prevent and resolve major risks. She reporting the areas of concern listed as politics and ideology to the economy environment external situations. Bloomberg's Tom MacKenzie says the concern could coalesce around some of these anniversaries including on October the first which is a seventieth anniversary of the founding of the People's Republic of China. And also the thirtieth over the thirty diversity. I should say all the tenement square massacre. She is quoted as saying the party is facing long term and complex tests in terms of maintaining long-term rule and opening up a market driven economy UK's labour party's proposed as alternative to the Brexit stalemate. Jeremy Corbyn, saying a second referendum is what's needed to get the government to move. The prime minister seems to be going through the motions of accepting the results, but in reality is in deep denial. So prime minister may rejecting the idea out of hand, we all need to be able to look. Our constituents in the. I'd say that we did the right thing by she says the issue is still a backstop New Zealand and UK meanwhile up signed a mutual recognition agreement to ensure trade flows freely wants, the UK has left the EU. If Kamala Harris could win the democratic nomination and election it would make history. She's announced her run for president today. Bloomberg's Suhil Kapoor methods that she's running on his primarily one of Justice. He is a former prosecutor in California district attorney, and the attorney general she's very fluent in issues of criminal Justice immigration reform issues that are important to segments of the democratic face so much more in common than what separates us. And when we emphasize that commonality while we recognize that commonality, we will achieve greater unity, and in particular, greater unity that we have right now where there are so many powerful voices or trying to so hate and division among us. We have got to reject that ABC news reporting Trump, personal attorney. Rudy Giuliani is backtracking on comments. He made yesterday reported that Trump Trump Tower Russia talks continued into November at the time of the election. He now says a comment hypothetical only for reference ABC has released what Giuliani said a month ago on this week. So we could float whether he was talking hypothetically, Donald Trump. No, Michael Cohen was pursuing the Trump Tower in Moscow into the summer of two thousand sixteen according to the answer that he gave. Would have covered all the way up to November of covered on November twenty sixteen in San Francisco. I'm Ed Baxter. This is Bloomberg. Doug. All right. It's thirty nine past the hour. We've got Dan Schwartzman. Looking."