Wilbur Ross Signals More Tariff Pain Ahead in China Trade Battle
Daybreak Asia just gone past seven thirty in, the morning, here in Hong Kong very good morning so all of you I'm, David Ingles and I'm Doug krizner at Bloomberg. World headquarters in New York. We've got the employment report, tomorrow eight thirty p. AM I'm sorry Wall Street. Time special coverage for you here on Bloomberg radio we'll talk more about that coming up cash markets in Tokyo Sydney and Seoul open at the top of the hour. Futures on the K.. Show is maybe one hundred points above where we were in cash yesterday but we had a meltdown in the Chinese currency. During the New York session we'll talk more about that as we continue right now this hour's. Top business stories. And perhaps playing into, that story dot com or secretary Wilbur Ross is signaling more trade pain here. For China unless well unless he. Says Beijing changes that system he. Told Fox News. The administration will make it harder for China. To continue what he called bad practices then it would be too well reform but foreign minister Wani says Taras also hurt American companies The US is trying to put pressure on China but, we don't think such an approach will, work to China is. Ready to talk to anyone who is ready to talk to us including the US. But this kind of dialogue has to, take place on the basis of mutual respect and equality That's repeated it will. Never, surrender to US trade threats well those trade tensions aren't affecting the outlook on China for two money managers. Based here in the US I'm. Talking about Tom Massie. And Nuno for nana's. They oversee the trilogy global advisors the firm has about one point two billion in its emerging. Wealth fund now as messy and Fernandez believed the, most attractive investment opportunities in developing nations remain in Asia is specially China they mentioned two companies in particular one sells luxury spirits the other expensive toothpaste. China is increasing consumption of high end products due to marginally rising wages and government healthcare investments Yeah I kind of know think, what, the toothpaste maker is a fairly expensive. Set myself that's probably. Anyway we'll talk more about that later on let's have a look at Japan. No Nikkei news is saying sharp listen to this. Will, stop making household appliances in Japan so in fiscal twenty nine nine. The conic Japanese company of course. Will end LCD TV production at its Chidi. Plant, in the country and start making refrigerators in Osaka the Nikkei says production. Will move to its haunt high facilities in Thailand and elsewhere Sharp's domestic facilities. Will concentrate on high value electrical. Components apple made history in the, states today stock finished at two seven. Thirty, nine following a strong earnings report in the prior session apple became the first US company with a market. Cap over a trillion dollars other. US tech giant's not. Far behind Amazon alphabet. Microsoft each worth more than eight hundred billion are from that level groups struggling company here said The examining now it's options for its Avalon aircraft leasing unit now we're told firms backed by Hong Kong. Tycoon, Li Ka-shing and Henry Chang has held talks about buying a stake or some of. The company's assets, now Avalon had a book value of. More than seven billion dollars at. The end of last year and. Has potential to be among HANA's biggest disposal stateside it. Was a mixed day for equities. The story from Bloomberg's Charlie Pellett the Dow lower s&p NASDAQ higher NASDAQ gaining for a third day is tesla and payments process of. Square jumped after, reporting second-quarter results as for global trade tensions and markets trae Polaski. Is chief investment officer at teepee w investment, management but. I think the risk is here that you.