Diego Schwartzman, Lena Smith, Dan Schwartzman discussed on Bloomberg Daybreak: Asia
Time for a check of sports from around the world. Here's Dan Schwartzman. Thanks, Dad. No upsets at the Australian Open is 50 to Lena Smith. Selena knocks out 16 Year old American Coco Golf in straight sets, while tonight both third seeded now me, Ahsoka intensity that Serena Williams are in action in the men's draw to see drafting the Dal advances to the third down, two straight set win. As this force ceded to Neil Medvedev later on. 16 Alexander's Berivan eight. See Diego Schwartzman playing the third round while 15 seed public arena. Busta faces 18 Sita Gregor Dimitrov have a center man getting bad news. His name. I will miss four weeks. The hip injury suffered in Wednesday's win over Con Brasil International will miss Tuesday's Champions League round of 16 1st. They clash against former club Barcelona at Cam No. Neymar could be back in time for the second leg of Park to plants on March 10 Bayern Munich winning its second FIFA Club World Cup title, knocking off Mexico's secrets. One milling cutter as Benjamin Bombard scores. The 59th minute win for Byron is there six trophy in the last 12 months, including the Champions League, the DFB poke out and the German Supercup amongst others. Elsewhere, Chelsea advancing to the quarterfinals, the F A cup of the one No. One at Barnsley, Miss Tammy Abraham scores alone goal in the 64th minute. South and moves on with the two No one ever. Wolverhampton in Spain Athletic build down Labonte ended one old trough in the Copa del Rey semifinal first like match Finally, the Tampa Bay Times reports that Buccaneer Super Bowl winning quarterback Tom Brady have a minor surgical procedure done on his knee this offseason on dance horsemen that your Bloomberg World Sports update Markets headlines and breaking news 24 hours a day at Bloomberg, calm the Bloomberg business APP and at Bloomberg Quick Take This is a Bloomberg business class 17 past the hour. Let's get you caught up on market action here on Daybreak Asia, So we've got several markets most in a zoo, matter of fact, across the a pack region that are closed. For the Lunar New Year holiday. Tokyo is up and running, and the Nikkei is down just about well little more than 2/10 of 1%, leading the decline utilities. Communication services. Some of the industrial names are weak today on healthcare moving lower today on the positive side renaissance. This is a chip maker based in Japan. Participated in some of the strength that we have seen in chipmakers. Generally. This is after the White House said it's working to address the global chip shortage as an example we have the Philadelphia Semiconductor Index up 3.5% today. Now. Renaissance also forecast profit above expectations. This company supplies ah lot of semiconductors to Japan's electric vehicles supply chain. And earlier in the week, Toyota was saying that it's going to begin selling to battery powered vehicles in the U. S. So that is just underpinning the gains that we're seeing right now. Renaissance I believe is up about 6%. In Sydney ASX 200 down about 4/10 of 1% Right now, way do have US sovereign debt trading on the Tokyo session, a yield on the 10 year at 1.15%. And then where the dollar is concerned to recovery. We have a stronger dollar. Now we have a weaker yen and a weaker offshore Chinese you want. All right? Time for news. Let's get to San Francisco it Baxter is in the Bloomberg 9 16 years from Eddie. Yeah, we're just getting a hothead across the terminal dug that Australia's Victoria State. Enter five day locked down on the virus. We just got in the headline Esso. We'll check it a little further don't know whether that's going to affect the goings on tennis wise in Melbourne, but It's right there. China's responded the BBC's removing China's state back broadcaster CGT ends license last week BBC's World News has taken off the air in China and in Hong Kong, RTHK says it is suspended. It's BBC length. The second Trump impeachment managers have finished their case setting timelines of what the president did and did not do said he set up Mike Pence and Nancy Pelosi for insurgents to look for them, saying that they would harm them and that the First Amendment does not protect his verbiage leading up to and during the attempted insurrection. Dr Anthony Fauci says supplies air increasing there should be enough by April to allow anyone who wants a shot to begin getting one too. Meanwhile, President Biden says on track to pass 100 million shots in the 1st 100 days in San Francisco. I'm Ed Baxter. This is Bloomberg. Brian. I wanna thank you very much. Let's get back to our guests. One Chin, who's chief Asia Pacific economist at Vanguard, So Miss Wong Doug was saying just before the break there that we talked a little bit about transition from the export led economy to consumption. The guest that we had on earlier Derek scissors of China based book. Addition to some comments about the vaccine, also said that the problem is in the PBOC stimulates the funding basically goes to companies and not to consumers, and this goes back a long Way in China that consumers don't have the same sort of protections and transfer payments that we see in the West. But to the extent that that is the case, I mean, does he have a point that the PBOC would would be better off in trying to funnel money right to consumers? Yeah. I think this is the typical way. China stimulate the economy, right? They came and the corporate sector. They try to revive the infrastructure spending. Um s Oh, this is very typical. What China has been doing in the past downturns. I think the good news is actually China effectively contained the pandemic this time, right? So what you were saying is because of the strong rebounding factory activities construction activities. It actually brought a you know, bring brought all the workers back. Right? So you know we are seeing actually at the labor market is improving on the informant rate is declining. So gradually wait around to see you know, you know better job and income growth from the row and that will feed into the consumption. Um, you know what consumers down the road. I think the weak link is still on the service sector. I think that's something we're still watching closely. Well, that's a great point. And it sets us up for the next question. Another point that Derek Scissors and made from the China beige book is that Chinese vaccines against covert 19 or far.