haidi: your top stories this hour. stray russian rockets landed in poland killing two people, the kremlin dismisses the claim as nato ally seek more information. shery: g20 leaders condemning the war in ukraine as president volodymyr zelenskyy addresses them. haidi: the user price data strengthened the case for fed moderation. shery: we mentioned the reports of two rockets falling in poland, we are getting a readout from the call between president biden and the polish president. president biden offering full u.s. support for and with poland investigations. we are affirming ironclad commitment to nato and the polish president in a call and the polish president said the explosion happened near the ukraine border. we have seen the market reaction being pretty swift to those reports in the new york session. a pressure, commodities, oil, and grain rallying. haidi: the response is being considered under article four, the triggering article five and what it would require, we talk about culpability as we await more confirmatio

haidi: u.s. prosecutors investigating the ftx collapse and binance ceo casts himself as crypto's new savior. looking a little tepid when it comes to sentiment. a huge amount of information to process. also looking ahead also to the meeting between the australian prime minister and xi jinping which could go a long way when it comes to diffusing some of these ongoing tensions that have built up over the past two years. we heard from the treasurer yesterday how they are hoping for a more stable, consistent, calmer relationship. downside when it comes to sydney to start the open as more stocks come online, about .1% lower. kiwi stocks higher by about .25%. we have the rba minutes to look forward to as well as processing. oscillating expectations when it comes to the fed pivot as well. we heard lael brainard's comments. nikkei futures up by about .2%. shery: take a look at how u.s. futures are trading. we are seeing a little bit of upside. we have seen swings between gains and losses throughout the ne

haidi: we get more on that next with the foundation president rei murakami. ♪ haidi: it is time for japan ahead. stories we are tracking, watching softbank at the open after a source said the company is expected to lose $100 million of its investment in ftx.com. the vision fund flagging a $7 billion quarterly loss on tech write-downs. sony will invest $72 million on a semi conductor plant in thailand. mitsubishi ufj financial group and dentsu group are among some of the companies reporting results. shery: our next guest has made it her mission to tackle gender inequality in japanese politics and finance. joining us now is ray murakami. we know japan doesn't necessarily have the best track record when it comes to gender equality, but finance and politics are two sectors that have been difficult for women to crack into, not only in japan. tell us about the state of things there. >> thank you for having me. i think japan, in comparison to other western developed countries, we do have a very low rate of women participation. especially in politics, we only have 10% of women in the lower house.

haidi? haidi: lots more conversations to come today on day two of the bloomberg new economy forum, taking place here in singapore. these interviews are coming up throughout the course of the morning. shery: i do have a conversation on inflation with the ceo of kargil is welcome on a very important day like today, where we have seen grains prices skyrocket. and barry will be joining us next. this is bloomberg. ♪ this is bloomberg. ♪ this is bloomberg. ♪ this is bloomberg. ♪ this is bloomberg. ♪ this is bloomberg. ♪ this is bloomberg. ♪ this is bloomberg. ♪ this is bloomberg. ♪ this is bloomberg. ♪ this is bloomberg. ♪ this is bloomberg. ♪ this is bloomberg. ♪ this is bloomberg. ♪ this is bloomberg. ♪ this is bloomberg. ♪ this is bloomberg. ♪ this is bloomberg. ♪ this is bloomberg. ♪ this is bloomberg. ♪ this is bloomberg. ♪ this is bloomberg. ♪ this is bloomberg. ♪ this is bloomberg. ♪ this is bloomberg. ♪ this is bloomberg. ♪ this is bloomb

haidi: how do stabilizing is this? as someone that lived through 1989, it is hard not to think about the extent to which we know the government go to. richard: the coming is party is a lot better at managing protests these days. they do not lock everybody up immediately. you have seen this overnight in beijing and shanghai. they are arresting targeted people. but only if the protests grow that you will see them violently suppressed. the bigger issue is what happens to covid zero? we are going into winter. we have a large scale under vaccinated and vulnerable population in china and that is the rationale for keeping covid zero. do they give a roadmap for opening up? do they allow foreign vaccines in? that will be the focus. the protests will be against xi and that is not a sideline compared to the main issue which is covid zero. haidi: how did they get it so wrong? how did the social contract goes so awry when it comes to vaccination levels? richard: i think it is a lot like a lot of governments around the world. they t

. >> i am alongside haidi. top stories this hour. china taking major steps to save a struggling property sector and relax covid controls. the strongest single get that xi jinping is focused on rescuing the economy. >> this policy shift comes ahead of his meeting with biden and biden says he is coming in stronger after democrats retained senate control. >> users facing a dim picture of their ftx deposits. >> major dynamic in affects. -- in fx. this is a confluence -- we keep calling it a perfect storm, what we are watching as we head into the new economy forum, the rate crunch. the slowdown in china. message news regarding property sector and another wave of covid. >> there is a reason there is so much uncertainty in markets especially with the crypto meltdown. have the issues you mentioned and we have so many important conversations to discuss especially when it comes to the tech supremacy battle between the u.s. and china. we will talk to the likes of dr. henry because under, katherine tai will be with us here in singapore. we have

yes, as you said, haidi. they are booking their trip because the tickets and seats are going quickly. kathleen: all the stories essay hotels are having a hard time getting staffing back to normal erie it a headline "goes down: -- ghost town: japan is opening borders but visitors are finding hotels closed." abhijay: that is the biggest challenge the industry is facing, not only accommodation, but other tourism sectors, retail, travel. we have seen this trend around the world. ihg operates in over 100 companies -- countries. we feel short to medium-term pain, but we are relying on the special skilled worker visas the government has put out to try to bring in more. but, it is an exciting tourism landscape for guests or consumers to come to japan. it is also an exciting employment landscape because we offer a unique product where colleagues in the industry can live and learn and live an exciting life while they are doing it. short-term pain, but we are very confident we will bring staff that. tourism, globally, e

haidi: absolutely. and that just comes back to that point about how much foreign influence you could see. they have dropped off to magically since the 2018 election. you've also got trading in this 24 year low. so just tell us about some of the pressures on the economy. ei: well, i think since the onslaught of the pandemic, a lot of people, for example, they have been very hard put, in terms of losing their jobs or sometimes having their wages snatched and so on. and the previous governments, which was dissolved nearly a month ago, when they tried to provide a lot of assistance, handouts, and so on. but this is not a long-term solution. because malaysia would need to in a sense transform its economy from middle income to hopefully a high value added one. there is a fair share of electronics, the industry in malaysia. in some pockets of industrial clusters, for example, the food supply in malaysia is not sufficient. and that has been made very prominent during the pandemic. people do not have enough to e

haidi. haidi: coming up next, a look at china's green tech with the breakthrough institute. why they believe the supply chain problem is getting bigger and broader. coming up next, we dive into the trading day ahead with jay polaski. he is seeing fresh opportunities in emerging markets. this is bloomberg. ♪ >> as we worked to bring policy to what we call a sufficiently restrictive stance, which really in simple terms means the level required to bring inflation down and restore price stability, we will need to be mindful. adjusting to little will -- too little will leave inflation too high. adjusting too much can lead to an unnecessarily painful downturn. kathleen: san francisco federal reserve bank president mary daly overnight reminding or may be underscoring to investors that the fed is looking at its path and how it's going to adjust as it moves ahead into 2023. and on that point, our next guest says slowing u.s. inflation, a brighter energy outlook for europe, and positive policy changes in china put covid zero to the side for a minute. we will make the u.s. dollar the

haidi: let's take at our u.s. futures -- this was a goldilocks session when it comes to equities and bonds. a holiday thinned trading week ahead of thanksgiving and not much has changed when it comes to the fed narrative in terms of determining market sentiment. futures flat at the moment as we get into the last trading day before the thanksgiving holiday. nasdaq futures little softer despite the optimism it could suggest we are seeing the end of this tech route and the regulatory overhaul might be near completion. we're looking at small caps, little upside there as well. the dollar index continued to lose a little ground but we see broader asian stocks looking like they will follow wall street higher. we have the broader japanese market closed for a trading holiday. the korean won trading a little higher on the back of that flight to dollar weakness. the aussie dollar holding steady and we are watching the kiwi dollar. the central bank in new zealand is poised to fight the highest inflation in decades. we will go

haidi: stephen engle there. very closely we are watching these ongoing protests in china as policy pushback is growing. citizens defining and challenging covid zero. analyst say it may not be the last test of beijing's ability to adjust. let's bring in our bloomberg opinion columnist. this comes weeks after the robust consolidation of xi jinping's leadership and now we are seeing calls for him to step down. this is a networked set of protests where they criticism is directed at the leader himself. how does beijing handle this? >> i think a couple of things are important to bear in mind, especially when you think about protests and authoritarian systems. one is protests are not as rare and china's we often think they are from the outside but they tend to be isolated. students, workers, livelihood issues. what we have seen here is livelihood issues, which the government tends to tolerate and political questions are coming together thanks to covid and it's creating a situation where we have protests across china co

haidi: what about emerging markets? >> basically the return of the high-yield party to emerging markets. investors are now buying those bonds at the fastest pace we have seen. we are seeing yields really pulling back as well. there is data out there showing that people would not mind taking a vantage of the debt in pakistan, ukraine. they are leading this high-yield rally. club the market saying that this is down to the prospect of slower said rate hikes. -- fed rate hikes. haidi: she says trade barriers against china and other countries could cost the global economy $1.4 trillion. she said nations need to avoid divisions as they face multiple crises. >> in a difficult time for the world economy, this part performs better. but we must overcome fragmentation. that is a big threat to the world today. we must work together. because we are in a world that is going from one shock to another. pandemic, war, inflation. if we add on top of that the fragmentation in the world economy, it will be like throwing gasoline on a fire.

haidi: australia has just come online. the top stories, the economy set to dominate tuesday's midterms with democrats bracing for losses. elon musk telling his 120 million followers to vote republican. japan and australian to open higher after a choppy session. now leaning towards a 50 basis point fed hike in december. and with cop27 under way we speak to the cfo of one of the world's largest climate funds about bankrolling the battle against climate change. shery: and we saw a breaking news out of south korea. the current account moving into a surplus of 1.611 billion dollars for the month of september. this of course is coming off the back of a deficit in the previous month of more than $3 billion. when it comes to the goods trade numbers, also rising to $494 million. we had also seen the trade deficit widening and the month of august. this is not really surprising given that imports have exceeded exports in korea since april. we have rising energy prices weighing on the korean won. but for the month of september we are

haidi, back to you. haidi: lots more great conversations coming from the barclays asia forum throughout the course of the morning. later this hour, we will speak with marie freier. stay with us. this is bloomberg. ♪ kathleen: now a quick check of the latest business flash headlines -- cbs reported an income that beat analyst estimates. resulting to the high interest rates aimed at curbing rising inflation. cbs' third quarter net income is $1.57 billion, a 32% increase from the year before. analysts on average had a $1.38 billion estimate. qualcomm, plunging in late trade after giving a for a weaker forecast than expected, due to the economic slowdown and covid lockdowns and china. it expect revenue will be 9.2 to 10 billion dollars on the fiscal first quarter, the average estimate was 12 billion dollars. lenders led by a bank of america have kicked off a 2 billion-dollar high-yield bond sale to help finance a leveraged buyout of u.s. tv ratings business nielsen holdings. the banks already funded the de

haidi: still ahead, u.n. climate talks kick off with discussions on how rich countries can help pay for the damage from global warming elsewhere. we speak with shannon o'neill but first we preview the trade week ahead with k2 asset management head george boubouras when it comes to china. this is bloomberg. ♪ what will you do? will you make something better? create something new? our dell technologies advisors can provide you with the tools and expertise you need to bring out the innovator in you. haidi: markets will be lows there -- laser focused on the inflation reading on thursday and implications for rate hikes. china's october trade and foreign reserves data will drop on monday. economists are expecting a lackluster third quarter gdp print from hong kong as the city struggles to reopen. we also get indonesia gdp data. sales may be muted on friday in hong kong amid a slowing economy and ongoing covid restrictions. alibaba kicked off efforts to spur demand. haidi: inflation is the key issue when it comes

haidi: kathleen hays there. we have breaking news when it comes to changes in the leadership at apple. apple has hired a startup founder in the form of a facebook executive to run its information systems group after a number of departures. this is according to people with knowledge in a matter. he will be the i.s. and tech department that handles the infrastructure behind apple's online services, their customer support and website. apple has referred to these operations as its nerve center. that lets people stay connected. we have seen this reported decision really adding to a number of management changes at apple. they are facing the loss of senior and key executives. we have seen a chief privacy officer, the vp of industrial design, head of the online retail store, vice president of procurement as well as some senior roles across software engineering either moving on or retiring. so we're hearing some changes there for apple, tapping that facebook veteran to be there information had. -- their information head.

haidi: good morning and welcome to daybreak australia. annabelle: we are counting down to asia's major market open. shery: i am kathleen hays, for the top stories this hour, markets brazing for wednesday's the decision as a job openings rebound, -- as job openings rebound. haidi: rumors to end covid zero, beijing is not aware of any plan. annabelle: bolsonaro falls short of conceding the election defeat to lula da silva. shery: stocks are opening on the upside this morning. the federal reserve showing solid gains in new openings for jobs, if it is a wednesday meeting, the owner open the door to slow down at a rate hikes ahead, we saw that it medigap stocks, apple is down pretty sharply, nasdaq is up. energy is the biggest gain or. -- gainer. in 2022, stocks erased again 01%, the most for any year since the financial crisis, bonds are little changed. the 10-year note was 4.05%. we see a follow-through on the negativity, that is almost unchanged on the s&p 500 futures. the golden dragon index was the big story. china stocks, the unverified

this is bloomberg. ♪ haidi. haidi: still ahead, market reaction to the fed's latest hike. we will be discussing with icapital's anastasia amoroso later. this is bloomberg. ♪ >> today the fomc raise our policy interest rate by 75 basis points. my colleagues and i are strongly committed to bringing inflation back down to our 2% goal. if we don't get inflation under control, because we don't tighten enough, now we are in a situation where inflation will become entrenched. we have both the tools we need and resolve it will take to restore price stability on behalf of american families. it is very premature to be thinking about pausing. when people hear lags, they think about pausing. we still have some ways to go. incoming data since our last meeting suggests the ultimate level of interest rates will be higher than previously expected. we have some ground left a cover here, and cover it, we will. kathleen: that's jerome powell opening a new phase, gaining control of inflation. a hard-fought battle. for analysis, let's bring in columbia university's patricia mosser. she spent

haidi: great to end on a positive note. ceo at the future fund on this final day of the bloomberg news economy form. shery: coming up ukrainian president volodymyr zelenskyy is due to speak at 4:00 p.m. singapore time. you can hear that live on bloomberg tv mliv on your terminal. rishaad: let's have a look at what is going on here. the hong kong shares slipping back 14% after a plan to end this partnership with activision blizzard. we did have this news in our ago. this means that world of warcraft will not be available in the chinese mainland. we are looking at the stock. continuing to fall back and monitoring what happens here. that is a look at what is going on. let's have a look at what is going on with first word news as we join vonnie quinn. dani: leaders of nato and poland saying there is no indication the missile that struck polish territory was an intentional attack. the blast killed two people in village near the border with ukraine. it was says the explosion was likely caused by a ukrainian air defense missi

haidi: what are you liking in credit? i know you prefer investment grade over high-yield, where are you finding those opportunities in asia? gaurav: i think corporate credit opportunities exist across the board. in parts of em, in parts of europe, and in parts of the u.s. in all of those areas we are generally seeing that rates are still super low. distress rates are rising up across high-yield and in investment grade, but i think still, most corporations across the world to a really good job of both extending the maturity of your credit, and also locking in lower rates. the next big test comes in towards the end of 2024 when there is more maturity to deal with. but between that period, if our case plays out in the fed actually starts going into a growth-obsessed mode versus inflation-obsessed mode and starts with cuts, that will be good. . against that backdrop, looking at trading when it is -- looking at averages across the world, it sounds like a good opportunity to be buying selectively in credit . we opened the year

haidi: bloomberg's very own party animal. tiger global management is said to be pulling back on worries about geopolitical tensions and covid zero. let's bring in our chief china markets correspondent. this strikes me as interesting timing because we have been talking about the two pivots. one of them is the soap of a chinese covid zero pivot. why are some of these firms now giving up on china? >> that is a great question, and i think it has a lot to do with just how long this drawdown is been for chinese stocks. it has been the longest ride down in history by many measures. if you are a big china investor like tiger global, they are renowned for their early bets on chinese internet stocks when sentiment was particularly low after the internet bubble burst. they tend to buy undid, but they are not doing it -- on dip but they are not doing it now. you have lost a lot of money if you have china in your portfolio. i think there is a sense of it is at are to be out of the market and hold that dry powder into be buying right now,

haidi: oho! [laughter] >> i love the thinly veiled reference to hong kong or asia as the source of the on flows, along those lines, we can make those comparisons, one of the areas is wealth management. obviously you are right to say 16% up, we had a look at the data here, in terms of assets under management in hong kong, only 2% last year. look at the very high end of private wealth, that is down 16%. that is one area of the conversation. will we be able to get that back? it is simply because he was aware -- it is where people have moved from and to singapore, i have had conversations with many executives and it is not people moving, it is posts moving over to singapore. a little bit of a job from my end, as far as compensation is concerned, hong kong is the multiple move higher -- as multiple moves higher. [laughter] haidi: hong kong versus singapore, an internal rivalry. we will be getting more from the both of you, let us get you to vonnie quinn with the first word headlines. >> hong kong may

haidi: brian armstrong. let's see how the market reaction will be in asia, especially with chris the related shares. >> we are going to be watching those very closely in japan. also in korea at the top of the next hour, given what we were hearing specifically that this issue with binance ftx really underlying how important regulation is in the industry and what is really needed. more regulation of the sector before it can gain mainstream adoption. taking a look at big names we are tracking. given that we also saw big moves initially and cryptocurrencies to the upside on this report. but later, once more details came through, we started to see a big drop. also taking a look at at the biggest plays, including bitcoin which is extending its slump. it earlier dropped 17% and is still lower on asian trading. >> take a look at how after hours trading is going for disney. you are looking at crypto at the moment which is a little bit of a mixed picture. but we do want to take a look. there we go. pressure. 6%. those

haidi: the german economy is facing an inflection point. what are your views on the potential deindustrialization and what the effect will be from the energy crisis. >> short-term we have to manage the crisis carefully. i am an optimist a look on the bright side. look at the fact that we are just launching our first lng terminal, which was originally projected to open only after two years and it has been a little over one year. so we are very happy with progress but it will take time to rewire the energy infrastructure and germany is dependent on stable energy. on the other hand we will not see deindustrialization and germany. the opposite. a few years ago this wistful -- the swiss franc traded up. everyone thought switzerland would de-industrialize and the opposite happened. shery: so you see companies moving in? >> it's not about that. it's that it spurs innovation. we might not be able to produce the base chemical and germany but we have amazing companies of all size that will use the opportunity of the energy transition to reinvent our

haidi: they don't look great. at least we're hearing from the top health official, perhaps a new one -- a new softening to opening, which may lead to a path towards a reopening. we're seeing the optimism in asia, a lower dollar affect is playing out when it comes to currency, as well as risk currency, like the kiwi, the aussie, putting .5% apiece. shery: breaking news out of south korea. we're getting the november trade deficit, widening to 7.0 $1 billion. this is a wider deficit than the previous month. perhaps not that surprising. he is coming out in the last hour saying we could see a trade deficit in november, south korean exports been hurt by truckers another strikes, pressure in the economy. november experts falling 14% year on year, which is much more than analysts had expected. imports rising 2.7% year on year, which is more than what was expected. this coming at a time when energy prices and imports continue to run. showing more demand domestically, but the export picture doesn't look great for an economy

haidi: bringing in a strategist. ending the week with more uncertainty when it comes to the fed keeping its options open trying to bring home the message of their commitment. >> think it's pretty clear that the fed speakers they don't want traders getting ahead of the situation. the idea that some people were thinking there was going to be a pivot from the fed was very unsettling to a lot of fed people when they haven't even reached the ceiling that they want for the terminal rate. trying to reinforce the message that there is some way to go before they reach this rate which is somewhere around 5% judging from what the fed speakers have been saying this week. then they would want to hold that rate somewhere at that level for quite a while maybe through the entire of 2023. they have said repeatedly or at least jay powell has said he doesn't mind seeing unemployment rise. we saw a few analysts suggesting that the u.s. could lose as many as one million jobs next year. that's only going to happen if the fed holds. we cou

haidi: is it overdone? are investors going to be worried? we know the potential for patching is when it comes to base cpi readings is high. we could be back to more sustained cost pressures. certainly it was a big move when it comes to equities and risk assets. downside for the dollar. shery: japanese ppi numbers coming in higher than expected. 9.1%. the estimate was 8 .02%. we could be talking about continuing inflationary pressures but at least the market of reaction across asia is positive with the nikkei jumping 1.5%. japanese yen holding at 141. we talked about weakness despite the fact the dollar has fallen, the worst day in 10 years. also watching the 10 year yield in treasuries. we saw that huge tumble overnight. the 10 year yield holding at 3.8%. we have seen treasury yields plunge with swap traders -- expectations. we are watching the jgb markets as well as we have the 30 year this week. the korean markets open, gains of more than 3% as we see the korean yuan also jumping to percent against the u.s. dollar. this comes on the back o

haidi: welcome to daybreak australia. >> we are counting down to asia's major market open. shery: the top stories this hour. stocks under pressure ahead of friday's u.s. jobs report on concerns hawkish fed may cause a deeper recession. the yield curve inverting to a four decade extreme. >> the be away -- boe biggest hike and 30 years. a new phase of tech austerity prop job cuts and a hiring slowdown. look at apple after hours because we heard that they have stopped hiring outside of r&d. we are seeing the downside pressure after the close. we had the s&p 500 down for a fourth consecutive session. it was down 1.5%. the pressure was on big tech given that we continue to see the resumption of losses. we are also watching eco-data. what that means for the fed. broader risk off sentiment translating into oil prices. it's all about the jobs numbers coming up on friday. look at the jobless claims that came out today. the jobs numbers did fall slightly. they are still near historic lows. we are seeing an overheated labor market like jay powell said it's correct. we are thinking the

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. ♪ host: --haidi: this is daybreak: asia. beijing covid cases at 1854. shanghai reporting 86 cases. in the capital, covid intense are popping up, makeshift areas. there is growing concern around covid zero and how they will exit from that. paul: it is a rough ride ahead in terms of policy. difficult questions for central bankers. the bank of korean governor today said how to judge the end of the tightening cycle? so many factors from oil price caps to the fomc decision to covid in china. annabelle: the open of markets in japan and korea. the start of trading for cash treasuries. note that we can expect as thin trading given it is the thanksgiving holiday in the u.s.. y in terms of today, we keep a close eye on trading in the yen. we are continuing to move below the key psychological 140 level. it is a story of a move towards risk on over the course of the week and the expectation the fed may look to moderate its pace of rate hikes in the months ahead. stocks are coming online. a little flak in the session at the start. we had a tokyo inflation data in th