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App. This is a Bloomberg business flash. Well, a Mazda modestly positive tone in the markets in Asia today, even though we'll have limited action, strong earnings lifted Wall Street at the end of last week that seems to be feeding through, investors watching with interest though news of a bid for first republic bank will report that as soon as we get it, many Asian markets closed today for the May Day holidays, Australia and Japan will trade. Australian future is up about three quarters of a percent. Nikkei futures are actually down a little but still trading at a surplus or at a higher level than what the cash flows was but we might expect a couple of hundred points of upside once Tokyo starts to trade. In China, it's worth noting the big divergence between the services and the manufacturing sectors that was borne out by the weaker manufacturing PMI of 49.24 April while the non manufacturing came in at 56.4 on the services side, tourism and consumer activities rose sharply on the first day of the 5 day Labor Day holiday. The railway operator expects traffic to rise to a record 120 million passengers for the extended period, and that would be up 20% from the same period pre-pandemic back in 2019. And China's home sales rose for a third month in April, adding to signs of recovery, the value of new home sales by the biggest developers rose 31.6% from a year earlier. So if you think about that, you might think that, well, the default position would be the news better than expected. However, we do hear from Chinese leaders they came out on Friday from the polar beer with a cautious approach and the need for more policy stimulus. So that must mean that the net reading. It's perhaps a little on a negative side in terms of growth. And that is a check of markets. Let's get headline news now 42 minutes past the hour. Here's Ed Baxter, and all right, thank you, Brian, Australia's defense minister Richard marles deciding economic coercion as a motivator for revamped military says emphasis on protection, ahead of president Ferdinand Marcos junior visit to the U.S. State Department has put on a statement saying that the U.S. will defend the transit in the South China Sea from a Chinese attack. Republicans are calling on president but Joe Biden to come to the table and talk about debt ceiling and spending. Democrats say a weakens a fight against opioids cuts child care, closes social security offices, restricts healthcare, reduces efforts to bring back jobs from the U.S. to the U.S. from China. And Chinese authorities reportedly have been preparing to release journalists fang Ben who disappeared three years ago. He publicized videos of an overcrowded hospital and bodies during the COVID-19 outbreak. Japan's prime minister fumio Acacia is approval rating has surged by 8 and a half percent to 46.6% the last month. This is a Kyoto news pole. Global news powered by more than 2700 journalists and analysts and over 120 countries in San Francisco, I'm Ed Baxter and this is Bloomberg and

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