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Bloomberg


Join Bloomberg Daybreak Asia for business and finance news centered in the Asia-Pacific region, along with insight and analysis on the day's top stories in global markets.




Bloomberg Daybreak: Asia Edition

US equity-index futures jumped in early trading and oil rebounded as President Donald Trump's administration signaled openness Sunday to a deal with China to quell fresh trade tensions while also warning that recent export controls announced by Beijing were a major barrier to talks. Vice President JD Vance called on Beijing to "choose the path of reason" in the latest spiraling trade fight between the world's two leading economies, claiming that Trump has more leverage if the fight drags on. Trump later posted a statement that hinted at a possible off-ramp for Chinese President Xi Jinping while issuing a veiled threat that a full trade war would wound China. For more, we spoke to Paul Dobson, Bloomberg's Executive Editor for Asia Markets.
 
Plus - The bull market in US stocks is having its third anniversary on Sunday, but if history is any guide it needs to broaden out soon to keep running. The S&P 500 Index began its current bull run on Oct. 12, 2022, soaring 83% in that time and adding about $28 trillion in market value. While the gain was 88% before Friday's selloff on President Donald Trump's threat of a "massive increase" in tariffs on goods from China, the benchmark's 13% jump over the past 12 months is still twice the average rise in the third year of a bull market, according to CFRA Research. We speak to Frances Stacey, Wealth Manager at Scarlet Oak Financial.

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US Opens Door to China Deal as Trade Spat Drags On

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.
 
 • In the US – a look ahead to earnings for U.S banks.
 • In the UK – a look ahead to the annual New Energy Finance summit in London.
 • We also focus on a conversation with Citadel CEO Ken Griffin from Citadel’s securities conference on gold.
 
 

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Daybreak Weekend: US Bank Earnings, New Energy Summit, Gold’s Future

TSMC is poised to release its Q3 earnings report next week. The company is likely to excel, with both revenue and gross margins expected to defeat consensus supported by strong July-August sales data. TSMC is due to release its September sales data and the figures could offer some insight into wider semiconductor demand. We turn to Debby Wu, Team Leader for North Asia Technology at Bloomberg News.
 
Plus, US stocks closed at a record on Wednesday, thanks to shares benefiting from the artificial-intelligence boom as traders parsed minutes from the Federal Reserve’s September meeting that showed a willingness to lower interest rates further this year. For more, we turn to Chuck Lieberman, Co-Founder & Chief Investment Officer at Advisors Capital Management.

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TSMC Earnings Preview, Stocks Set Fresh Record on AI

Spot gold prices climbed above $4,000 an ounce for the first time, as concerns over the US economy and a government shutdown added fresh momentum to a scorching rally. Bullion climbed as much as 0.4% to $4,001.01 an ounce on Wednesday. It’s a milestone moment for the metal that traded below $2,000 just two years ago, with returns that now well outstrip those for equities this century. Gold has jumped more than 50% this year in the face of uncertainties over global trade, the Federal Reserve’s independence and fiscal stability in the US. At the same time, geopolitical tensions have boosted demand for haven assets, while central banks have continued to buy gold at an elevated pace. For more, we spoke to by Bill Adams, Chief Economist at Comerica Bank.
 
Plus, Bank of Japan Governor Kazuo Ueda will likely face a tougher political environment in the second half of his five-year term starting Thursday after the ruling party leadership victory of Sanae Takaichi, a critic of interest rate increases. Ueda already faces a dilemma. The central bank appeared to be laying the groundwork for its first interest rate hike since January later this month. Now, following Takaichi's win, if Ueda goes ahead with an increase he risks antagonizing a premier who might then seek more sway over the BOJ's decisions going forward. For more, we spoke to Bloomberg's Paul Jackson. 

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Gold Hits $4000, BOJ Rate Hike Dilemma After Takaichi Win

A rally in chipmakers sent stocks to all-time highs as Advanced Micro Devices Inc.'s deal with OpenAI added fuel to the artificial-intelligence frenzy that has powered Wall Street. Bonds fell. The dollar rose. OpenAI will deploy 6 gigawatts' worth of AMD graphics processing units over multiple years, according to the pact, which is just over half the size of an agreement the AI startup recently reached with Nvidia. It also sets the stage for OpenAI to acquire a large stake in the chipmaker. The deal represents a high-stakes test for AMD — one that could deliver tens of billions of dollars in new revenue and burnish its status as a serious contender in AI technology. There are also risks: It further ties AMD's prosperity to an AI market that some worry is in a bubble. For more on the markets, we turn to Ed Butowsky, managing partner of Chapwood Investments.
 
We turn to Japan, where they are set to have its first ever woman leader in Sanae Takaichi. Takaichi wants to become the country's version of her Idol, Margaret Tatcher. However, Bloomberg Opinion Columnist Gearoid Reidy writes that some might fear that she might be another Liz Truss. He joins us to explain.

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AMD-OpenAI Deal Sparks Rally in Equities

Japanese stocks rallied and the yen weakened after a ruling-party vote positioned pro-stimulus lawmaker Sanae Takaichi to become Japan's next leader. Takaichi is set to become Japan's first female prime minister after winning the Liberal Democratic Party leadership contest Saturday. Investors had expected the seat to go to political scion Shinjiro Koizumi, who was seen as taking a more fiscally cautious view and leaving the Bank of Japan to press ahead with normalization. While Takaichi's appointment has lifted growth expectations, it has also raised concern over increasing bond supply while reducing chances of a BOJ rate hike this month. 
 
Elsewhere, gold advanced above $3,900 an ounce to yet another record, extending a rally that's been a feature of commodity markets all year. Bitcoin also set another all-time high over the weekend. Oil advanced after OPEC+ agreed Sunday to revive just 137,000 barrels a day of halted supply — a slower pace than earlier this year. Equity-index futures for the US also rose in early Asian trading. For more, we turn to Paul Dobson, Bloomberg's Executive Editor for Asia Markets.
 
And for more reaction on Sanae Takaichi's win, we hard from Christopher LaFleur, Chairman at the American Chamber of Commerce in Japan. He spoke to Bloomberg's Shery Ahn and Avril Hong on the Asia Trade. 

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Japanese Stocks Jump on Sanae Takaichi's Election Win

Bloomberg Daybreak Weekend with Host Tom Busby take a look at some of the stories we'll be tracking in the coming week.
 
 • In the US – a look ahead to the impact of lumber and timber tariffs on housing, and President Donald Trump’s Pfizer deal on drugmakers.
 • In the UK – a look ahead to the Nobel Prize decisions.
 • In Asia – a look ahead to the impact of the Golden Week holiday.
 
 

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Daybreak Weekend: Pfizer Deal, Nobel Peace, Golden Week

In the US, stocks just notched record highs thanks to the tech rally. That is despite an ongoing government shutdown. Meantime, emerging markets are facing challenges from political risks in South America to Asia's slowdown under tariffs. For more insights, we turn to Jeff Grills – Head of EM Debt at Aegon Asset Management.
 
We go to Japan, where the country will get its second prime minister in just over a year when the ruling Liberal Democratic Party holds a leadership election this weekend. The new leader will replace outgoing Prime Minister Shigeru Ishiba, who was forced to resign after a historic upper house election loss in July. For more, we heard from David Boling, Eurasia Group Director for Japan and Asian Trade. Boling spoke to Bloomberg's Shery Ahn and Avril Hong on the Asia Trade. 

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Emerging Markets in Focus, Japan Leadership Race

US stocks ended Wednesday's session higher, notching a new record and seemingly shrugging off the first government shutdown in nearly seven years. Treasuries rallied after private payrolls data reinforced bets that the Federal Reserve will lower interest rates later this month. Both the S&P 500 and the Nasdaq 100 rose for a fourth consecutive session. We spoke to John Pantekidis, Managing Partner at TwinFocus.

Plus - Asian equities gained at the open after global stocks rallied to a new all-time high, shrugging off the first US government shutdown in nearly seven years. Stocks in Japan, South Korea and Australia all rose with gains in chips and technology stocks the most notable. We spoke to Ritesh Ganeriwal, Head of Investment & Advisory at Syfe.
 
 

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Asia Equities Gains as Traders Shrug Off US Shutdown

The US government hurtled toward a Wednesday shutdown as Democrats blocked a Republican stopgap funding package that didn't address their demands, the latest sign that neither party was likely to fold in the final hours before a federal funding deadline. With no more votes planned in the Senate before a midnight deadline, the White House's Office of Management and Budget instructed government agencies to "execute their plans for an orderly shutdown." Despite the risk of a shutdown, US equities notched a second straight quarter of gains. We spoke to is Viraj Patel, Executive VP & Head of Asset Allocation at Fiduciary Trust International.

Plus - China's Golden Week starts, with all eyes on consumption over the holiday. Millions are set to travel, shop, and dine during that time period. Their spending data will offer clues on whether deflationary pressures are easing and if policy support is translating into real economic activity. To encourage consumption, city governments are issuing coupons largely targeting autos, dining and tourism, while the central government released service-industry stimulus measures, including extended museum hours and more sports events. For more, we spoke to Catherine Lim, Senior Analyst: Consumer and Technology for Bloomberg Intelligence.
 
 

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US Government Nears Shutdown, China Golden Week Begins

A relatively tame US inflation reading combined with more signs of jobs cooling spurred a rally on Wall Street amid speculation the Federal Reserve will slash interest rates for the first time this year. The highly anticipated consumer price index showed that while inflation is still above the Fed's 2% target, it's not spinning out of control. Alongside that report came the usually noisy jobless-claims figures, which jumped to the highest in almost four years, emboldening bets policymakers will cut rates next week in an effort to counter a rapid slowdown in the labor market. We get the market views of Jim Craige, Co-Chief Investment Officer & Head of Emerging Markets at Stone Harbor Investment Partners.

Plus - MSCI's gauge of Asian shares rose for a seventh day and neared a fresh record, after the S&P 500 and Nasdaq 100 indexes both climbed to fresh closing highs in New York. A gauge of global stocks also hit a new record. Contracts for US equities were little changed Friday. We get more perspective from Jun Bei Liu, Co-Founder and Lead Portfolio Manager at Ten Cap. She speaks with Bloomberg's Shery Ahn and Avril Hong on The Asia Trade.

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Global Equity Rally Continues After US CPI Print

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