This is Bloomberg daybreak Asia for this Monday, August 8th in Hong Kong Sunday, August 7th in New York, coming up this hour. San Francisco fed chief Mary Daly suggests a 50 basis point hike isn't locked in at the fed's next policy meeting. Berkshire Hathaway reports $3.8 billion in equity purchases last quarter. China's trade sip was rises to a record 101 billion in July. The U.S. Senate finally passes the so called inflation climate and health bill. Question remains, whether China has ended its military drills near Taiwan, China shortens some travel restrictions. I'm Ed Baxter with global news. Ellen Holland with a successful debut for Manchester City. I'm Dan Schwartzman, I'll have that story more coming up in Bloomberg's boards. That's all straight ahead on Bloomberg daybreak Asia on Bloomberg 11 three O New York. Bloomberg 99 one Washington D.C., Bloomberg one O 6 one Boston, Bloomberg 9 60 San Francisco, Syria's XM one 19 and around the world on Bloomberg radio dot com and via the Bloomberg business app. The China open In 30 minutes from now and we'll see if that export data from the weekend will propel mainland equities higher. 9 in the morning in Hong Kong were 30 minutes away from the open there as well, and if you're joining from the region, good morning, I'm Doug prisoner at the Bloomberg interactive broker studio in New York. And I'm Paul Allen in Sydney, where it's one minute past 11 on Monday morning. We've been trading for an hour now and Sydney Tokyo and Seoul. Not a lot of conviction, though, for a close look, here's Brian Curtis, Brian. Yeah, we're edging down about a quarter of a percent. That's the same as S&P E minis, so off a quarter of 1%. It seems to suggest that it's a mild negative the conditions that exist here in the in the global economy. I can pose a question to you. What's more priced in right now, peaking inflation in the United States or the impact of COVID lockdowns in China. If we could get both of those things handled, you'd have a major positive for the global economy as those are the two biggest economies in the world. If it's not the case, then you know you've got some trouble ahead. We had strong trade data in the U.S., but the rebound in China looks to be held hostage to a certain degree by further lockdowns in the country and we're seeing that in hainan even as we speak. Some possible positive if the U.S. economy stays strong as reflected by that jobs report and inflation is close to topping, then you've got some very good conditions there. You had Warren Buffett that was not buying in the second quarter that normally sends a pretty good message. And I just saw on the Bloomberg terminal here moments ago that the chief executive here in Hong Kong John Lee will hold a command in coordination group news conference with the health secretary, so we might be seeing something in the way of reducing the hotel quarantines here in Hong Kong, which might not affect the global economy, but it would be it would be good for Hong Kong. So quick numbers here, Hanks and index futures down a half a percent in the cash markets. The Thai X is down 8 tenths of a percent in Taiwan just opening there. The straights times index in Singapore down four tenths of a percent. And in the other cash markets, the new case is down about a tenth of a percent, the ASX 200, off two tenths of 1%. That's a look at market stuck to you. All right, Brian, thanks. Well, here in the U.S. we had that super strong employment report last Friday and now markets are bracing for another 75 basis point rate hike from the fed next month. The head of the San Francisco fed Mary Daly was on CBS face the nation today, she said the fed is quote far from done yet in bringing down inflation. We need to be data dependent. It could, we need to leave our minds open. We have two more inflation reports coming out, another jobs report. We continue to collect all the information from the context we talk to you to see how this is working its way through the economy. Wage growth is a little bit above 5% inflation last print at 9.1%. Americans are losing ground every day. So the focus has to be on bringing inflation down. That is the head of the San Francisco fed Mary Daly. By the way, she referenced an inflation report this week. That's Wednesday when we get the consumer price index report. Now on a positive note, daily cited signs the American economy is cooling just a bit, and she's seeing evidence of a slowdown in price increases while we are also dealing with this very hot labor market. She also went on to say, it's going to take time for those fed rate hike adjustments to work their way through the economy. By the way, the fed next meets on September 20th. China's trade excuse me trade balance climbed about a 101 billion in July, according to government figures that is the highest in data compiled since 1997. The result was because of the underperforming import figures as well as exceptional exports, exports growing 18% from a year earlier than economists were estimating about a 14% gain. Bloomberg's Steven engel explains why, exports grew so much. You have, again, just this fear of potential lockdowns that could curtail business. So the exporters trying to get stuff out the door right now to their customers abroad, but longer term Bloomberg economics says strong exports were based on pent up demand. They are basically catching up on business that was delayed by the lockdowns. That has massed. Overall weakness in external demand. Other factors, including a slowing global economy, high inflation as well, could affect the number of China exports later on this year. All right, we're at 5 minutes past the hours. We update global news