It is 8 30 a.m. in Hong Kong and here in Singapore, I'm Juliette Sally. And I'm Brian Curtis training is underway in Tokyo Sydney and Seoul and we see extending losses there the nikkei now one and a quarter percent the ASX 200 in Sydney down 1.9% will get details on markets with Doug prisoner in a few moments, but for now Jules and I will look at some of the top stories. And fed officials this week have been stressing their commitment to defeating inflation. Today, Cleveland fed president Loretta mester reinforce the message that the fed does have more to do. My currency is that we've necessary to move the fed funds rate up to somewhat above 4% by early next year and hold it there. I do not anticipate the fed cutting the fed funds rate target next year. Mister also said that the size of the fed's next rate hike will be data dependent, and she forecasts inflation moving to a range of 5 to 6% by year end. Two of the world's most influential chip companies are set for a legal showdown. British chip designer arm has sued Qualcomm for breach of contract and trademark infringement. The conflict centers on Qualcomm's acquisition last year of chip startup nuvia. Nubia's business developed chip designs using arm licenses and they can't be transferred to Qualcomm without permission from arm. Shares in Qualcomm fell about 1% in New York trading. So far this year, they're down about 27% from their peak. We'll take talk parent by Dan said to be lowering the price of its stock options to retain employees, this according to a human resources executive in the company, options process would be reduced to a $155 a share from the earlier $195, and that's a kind of just over 20%. It comes after a shop downturn in technology valuations over the past year. Chinese president Xi Jinping's cracked down on the tech sector has deflated growth prospects for China's tech giants, which in many cases are experiencing their first revenue declines on record. Disney says it's considering a broader