vonnie: japan's retail sales increased, beating economist forecasts. the numbers add to signs that households are resuming spending after authorities lifted the extended state of emergency. japan needs household spending to support the recovery as a global supply chain restrictions sunk momentum. mohamed el-erian is urging the fed to acknowledge that inflation isn't transitory. he also told fox news on sunday that it is time for a change in policy and a new president in charge at the central bank might have found it easier to change course. el-erian has repeatedly said that the fed is underestimating inflation risks. the women's tennis association says it remains deeply concerned about the well-being of chinese tennis star peng shuai. according to a statement seen by cnn, the ceo is worried about her ability to communicate freely. concerns about her safety caused international outcry after she was not seeing publicly for some time following a post that accused the former chinese vice premier of sexual harassment. global news, 24 hours a day, on air and

talking about the release of japan and the u.s.. japan mulling that relief but nothing decided yet. here's the official line. this is what is happening. the very bottom of the worst performing sector group this monday morning. we are down -- coming up close. this is bloomberg. ♪ >> all companies, individuals and -- the most obvious example countries need to look at. rishaad: it is 9:29 in the evening on wall street. msci asia-pacific. about 1/10 of 1% down currently. energy companies leading the downdraft. three sectors moving to the upside. david: we are looking at property, which might add to some of the sectors, putting a floor underneath it. we are getting news in china that one of the property developers and if you remember last week, news over china allowing this financing option for property developers based on the report, it has been approved for the company. 800 million yuan. if it does continue to be the story narrative, this would be seen as positive. the stock down 3%. let's flip the board so we can have a look at the broader property space. in has been about a rally o

su: let's talk about japan's economy. it shrank buying annualized 3% last quarter, contrasting at a much faster pace than forecast. the data used the new prime minister's additional justification for extra stimulus measures to get the economy back on the path to recovery. the fiscal measures will exceed $350 billion. the economy has contracted in five of the past eight quarters. presidents joe biden and xi jinping are set to hold a virtual summit later monday. the talks come amid heightened tensions among issues like taiwan and trade. according to the white house, it's designed to prevent a misunderstanding that could lead the u.s. and china potentially to a military conflict. biden and xi have spoken on the phone twice this year, but this is the first time a conversation is being billed as a summit. u.s. senate majority leader chuck schumer could be set to fast-track a $250 billion bill aimed at competing with china. this, by attaching into a must-pass defense bill this week. the bill would boost domestic semiconductor m

the outlier is the bank of japan governor saying he is quite sure japan's economy would overcome any impact from covid-19, keep growing. he said this hours after the news emerged. clearly he is downplaying the risk of the omicron variant, partly because he doesn't have to worry about inflation perhaps and has other concerns now. rishaad: kathleen hays, thank you. let's get to the numbers. moderna saying a new vaccine to fight this strain could be ready by early 2022. the ceo spoke with bloomberg about the outlook on the new variant. >> i definitely think with this threat, it is something we have not seen before. the number of variations, mutations on the virus are surprising. they are not theoretically impossible but extremely rare, so we have to take it for the serious threat it poses. we have a lot better weapons to fight back against it then we did 18 months ago, but i think we should always be worried when we are under attack, it is what we do about it that matters. >> what should we do about it and what will moderna do about it? will this strain elude the current vaccine and wha

diplomatic pressure has been supported by japan and india. the key cartel members, including iraq and kuwait say they should stick to the current plan of adding 400,000 barrels a day of supply each month. india has made its biggest ever cut to fuel taxes, reduced consumption, and keep inflation low. it comes as prices at the prompt -- prices the pump increases. the government has previously resisted cutting levies on motor fuels, 67% rising crude prices this year. global news, 24 hours a day, on air and at quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. i'm vonnie quin. this is bloomberg. still ahead, we will talk to the digital payment giants backed by and group -- ant group that made a stellar listing until yesterday. rishaad: in the next hour, the chief finance officer of the company readying for india's biggest initial public offering ever. this is bloomberg. ♪ yvonne: covid cases are continuing to rise. about 100 or so more confirmed cases. the country facing the most widespread ou

yvonne: a look at same-sex relationship rights in japan. our guest helped found the organization that promotes lgbtq plus inclusion in offices. this is bloomberg. ♪ >> i think that regulation and a lot of the things that are bad for the economy, need to be solved. for tencent, there is some internal issues. for example, the lack of data integration and the low converging of the traffic. the lack of the video app. internal issues are more difficult to be solved. >> short-term, there many regulations to work through. impact will take some time to get digested. we have to see estimates and expectations. longer-term, i think the structural demographic growth of china, the world's largest digital economy,. -- digital economy. rishaad: giving their views on tencent. yvonne: tencent said to report slowing sales growth for the sixth straight quarter. results will shed light on how china's tech crackdown has had the country's biggest company. rishaad: our bloomberg intelligence analyst joins us. it is going to be all about the regulatory situation

and a up over 20% expected next year in asia excluding japan. . we are joined by samson lo, head of asia m&a at ubs. things are going to be busy. >> absolutely. this year, there was no time to rest. we announced 30 transactions since the end of the summer. when you look at 2021, all the volumes have been up. asia x japan, asia m&a falling oh over 75%. china has been up lately slightly less than 10%. even though china has been grinding to a halt, but it has been upset by inbounds and a lot of the development of china businesses. rishaad: just having a look at this headline just crossing the bloomberg, to do with china, iron ore futures have climbed to the daily limit all down to the demand outlook as well. sorry for interrupting. carry-on. tell us about the main drivers for m&a. which of the industry groups most perhaps are in focus here? >> the most in focus are with a call tm to you, but if you peel the leaders, it is anything tech related. it can be consumer tech, industrial tech, and application tech as well. at the same time, industrial has be

. -- japan. really, the surge within that group in recent weeks leading to this massive pop with costs in the pmi numbers which we will get to later on. rishaad: we do have our chief correspondent and the current editor kathleen. and also our strategist. quite a feast there. pmi, getting what we saw out of the officials numbers. they did just have a second month of contraction. the tie chin once showing expansion. to make sense of this,. -- the power sugars we had. we got supply chain constraints. top developers defaulting or not quite defaulting. this is all playing out with regards to what is going on. those ppi numbers are 26 year highs. reporter: mixed message going on. when you look at the reading today, the takeaway is the smaller businesses are holding up better than thought. when you look at the details, domestic demand is holding up better. i think that is where you are seeing the crunch hit now. the government pmi reading over the weekend indicating that the energy crunch is impacting t

in japan, they have developed a rivaled drug and have fell. far -- pfizer is the second one to announce a pill to treat covid-19. virus restrictions in australia's most popular estate will ease further for fully vaccinated people. booking limits will be listed as -- at hospitality venues. cinemas can operate at full capacity. they hit their 80% full vaccination target over the weekend. flights to the u.s. resume monday with some of the most lucrative routes for airlines. british airways used to generate one billion dollars per year. analysts expect lower demand of services resuming. flights are for the fully vaccinate. musk -- elon musk said he should sell shares around $21 billion. 58% at 3.5 million between users say they support the move. their world's richest person proposed it in a tweet citing recent discussions about the ultra-wealthy hoarding unrealized gains to avoid paying taxes. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. i am vonnie

the monic's group in japan -- monex group in japan trading lower. china education stocks, as licenses are issued for companies to provide tutoring after school, we have new oriental rising on the back of that. >> after a brief lull at the end of october, indian equities look to resume their rally. we are going to be talking strategy with mark mobius, a long-term bet on that country's stocks. this is bloomberg. this is bloomberg. ♪ >> three minutes to india's trading day. analysts at morgan stanley and nomura have downgraded the market after an index doubled from a march 2020 low. mark mobius feels otherwise. he is devoting almost half of his emerging-market fund to india as well as taiwan. >> list discuss that with our next guest. people are saying this rally for india, which has had a bit of a pause, has legs which could go on for a multiyear cycle. what is your take? >> so if you are a medium to long-term investor, you are investing in the markets, i think india is a great place to invest. we are seeing demand uptake happening -- uptick happenin

and china and japan and india did not want them to do. they helped steady the output and prices went down, not up. yvonne: what does it mean when it comes to, first of all, demand? when do you expect demand to start peeking? >> it depends on what you mean by peaking. opec last week said demand was going to be very slow in growing. we got the pandemic ahead of us. actually, the reverse is probably more true. we are seeing an uptick in demand, particularly in air travel, particularly starting in november. you just have to look at what airlines have scheduled that they were not scheduling in october, and the recovery from the pandemic has been quite robust. we think demand has been about one to one. we think it will be lower next year, but still pretty high. demand is not really the ultimate issue. the ultimate issue in the longer run might be demand, but the ultimate issue in the short run is the balance between supply and demand, and the world is really drawing down inventory, so they are at a very low level and we expect prices to continu

they have strengthen military ties with japan and its allies as well. lots of questions about that and how beijing will respond to all of that. >> yes. we also want to talk about the new economy. jungle ventures recently raised $200 million as it seeks to replicate it start of across asia and india as well. good to have you with us. before we get to all of that. what happens do you think? >> ipo pricing is a combination of science and art. getting it right. asia is a fairly new phenomenon. there are so many advisors. in my opinion, it is just a bump in the road. the government initiatives are all point in that -- pointing in that direction. >> is there fraud in the indian market question mark >> that is not true. from a revenue perspective, these businesses are seeing a lot of consumer adoption. >> profitability? >> it is getting there as well. korea's numbers are public. as long as the ultra manures are focused on building businesses that are here to last, they can focus on the needs of the customers in asia. >> some of the key things here are cities,

ex japan, culture date, down by one third of 1%. yvonne: some of the stories we are watching southeast asia meanwhile, another central bank decision in malaysia. they are extended to hold the8j- record low of 1.75%. this meeting letter on vietnam said its first target for carbon neutrality, aiming for 2050. thailand planning for the same date. nepalímliñ1xn e'knÑ'÷ singapore raising its retirement age to 63 from 62. data starting from july 1 of next year. david: one year. okay. well, it's up. don't have anything else to add to that. [laughter] i was about to make a comment. can't do my math right now. markets have been doing this, on hold, with the exception of manila ahead of key central bank decisions. let's have a look at a lot of these earnings men through from singapore bank. you do have this chart which puts into context the damage that we saw in history and in the form of loan loss provisions when banks provision more for expected losses. you saw this fight back during the height of the 2020 pandemic, when things were shu

india, japan, republic of korea, the united kingdom have agreed to release oil from their reserves in china may be more as well. yvonne: president joe biden their speaking on the deal when it comes to releasing strategic reserves. this is a coordinated effort with some of the asian nations. the market wasn't very impressed by these numbers, given the fact that you're seeing less than 5 million barrels are less in japan, india's about five, south korea 3.5. china still has a question mark, they didn't mention how much they could actually release as well. so we did see that dip and a bit of a balance. rishaad: the maximum drawdown capability of 4.5 million barrels per day. don't forget the energy has mandated by law to sell 260 million barrels of oil from its reserve, by 2027. david: going to try the impossible and pivot to china. to a large extent, that's what we were talking about earlier, china was one of the first to talk about actually considering that option. this goes into the whole consumption confrontation, and when you have politicians chiming in talking about the need for the

looking at japan, we have gdp figures out monday. the nikkei is up as we had to that one-hour-long moving is a handful. no kidding! fortunately, xfinity makes moving easy. easy? -easy? switch your xfinity services to your new address online in about a minute. that was easy. i know, right? and even save with special offers just for movers. really? yep! so while you handle that, you can keep your internet and all those shows you love, and save money while you're at it with special offers just for movers at xfinity.com/moving. rishaad: it is 9:30 in the evening in new york. wall street had a good day, tech stocks in particular, making themselves felt there, and that is clearly what we are seeing as well. haslinda: taking a look at property stocks, you have it on the screen. pretty mixed picture. evergrande up by 1%. rules for chinese developers to issue bonds may be eased, and add to that, evergrande made their payment, a default but not enough to lift all property sectors. just evergrande currently up by 1%. rishaad: we have investors

japan's nikkei says the two sides are aiming to hold talks by phone or online. the secretary offense would lead talks to the u.s. and china would be represented by the minister of defense and the senior vice chairman of the central military commission. chines -- china's foreign ministry has warned the incoming commission not to meddle in its internal affairs. the warning came after chancellor in waiting unveiled an agenda that includes surprisingly strong language on china over human rights and its grip on hong kong. the european union is set to impose a nine-month time limit for the validity of covid vaccinations for travel into and within the block. it would also recommend all the countries reopen as of january 10, giving priority to vaccinated travelers. global news, 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. david: coming up, we discussed the evolving regulatory landscape with a chief compliance officer from the asia-pacific. also coming up, the outlook for chinese prop

we check on where markets it out of japan. up 0.3%. as you know, japan has been a lackluster performer this year. it has prompted a massive buyback for the likes of softbank. the hang seng up by 1%. gains for the cost be rational marginal -- are rather marginal, 0.1%. inflation concerns are front and center. as we talk about inflation and brent crude suring upwards -- surging upwards by 1%. talk about u.s. coal hitting 12 year highs adding to inflation concerns and gold by 0.2% after sinking lower on the inflation. yvonne: we have more on the oil markets and we bring in sharon in singapore. the oil market is a limo. where waiting to see if the u.s. will release strategic reserves. what do you think would prompt a move to the market? >> oil is heading upwards this morning. it has been moving up and down about five dollars a barrel in the last few weeks. as it waits for a decision from the biden administration on what it wants to do with supply. the oil that biden -- has caused producers to ramp up faster since it's fighting inflation an

i have been to japan, while i'm here i'm meeting with the economic ministers of new zealand and then carry on to malaysia. it's really just, president biden has said america is back and this is proof of that. i am here, i met with the prime minister of singapore, i'll be meeting with the economic ministers of malaysia. america has been in this region for decades, and incredibly important region. i am here to fortify those relationships. haslinda: we have heard president biden once a more resilient supply chain. when you talk about a more resilient supply chain, what exactly are you talking about? how does it look like? >> for so long in our supply chain, the mantra has been just in time. now, we realize the vulnerabilities of just-in-time. we need to have redundancy. we need to have diversity. i am here in the region talking to companies in our supply chain, and ministers to say let's collaborate with our partners. tomorrow i will be in malaysia. a good part of the american supply chain is in malaysia. some factories went down due to covid outbreaks which had disruptions in america.

over in japan, the impact of parts shortages on automakers. the country's biggest names report earnings. toyota and honda were among companies that slashed output as a resurgence of covid outbreaks hit southeast asia's factories. strong demand for vehicles is fueling higher profits and will help offset the lower sales volume and output cuts caused by parts shortages. you can get all the supply chain stories on bloomberg by checking out ni trade nl go. rishaad: rio tinto chief executive jakob stausholm saying he is expecting impacts from the supply chain crunch and energy crisis to be short-lived. he spoke to our colleague francine lacqua on the sidelines of the cup 26 summit -- cop26 summit in glasgow. >> at the beginning of the year, we had our best year ever. right now the economy is slowing down. we are starting to move things around in the world. i think it is short-term inflation. >> how much inflationary pressure are you seeing across your products? >> a lot of inflation in terms of the first half, but yes, it is one of the challenges. >

japan is stuck in its own growth inflation difficulties. we are seeing some price pressures from china and india. not much else. i don't think inflation is going to be the key consideration and the medium to long term for emerging markets. i think we are going to get through this. the question is how growth looks for the sustainable basis once we get through this difficult time. haslinda: here we are toward the end of 2021. ems continue to underperform. is that the trend that is expected to continue given where china is right now? >> i think we need to be careful how we look at emerging markets. a lot of different drivers happening. the main cause of the outperformance has been china. if you look at places like india, places like the middle east, markets have hit new highs. there is a lot of interest in those markets. the digitalization has been providing a lot of growth. come back to china, last year china was first in the pandemic. it was first out this year, the economy has been strong. policy has been a bit more restrictive. china is fo