Bloomberg Daybreak: Asia Edition

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 at how earnings are impacting global markets In the UK – we preview the Bank of England rate decision In Asia – looking ahead to the RBA Decision and Chinese economic data See omnystudio.com/listener for privacy information.

US President Donald Trump emerged from his meeting with Chinese leader Xi Jinping beaming, labeling the conversation "truly great. "But the one-year truce struck on Thursday in South Korea is likely to only stabilize relations between the world's two largest economies rather than resolve fundamental differences, with both sides buying time to further reduce dependence on each other in strategic areas. And it made clear just how much stronger China has become since Trump's first term in office. Trump's move to cut the fentanyl tariff and extend the existing truce on reciprocal tariffs will leave many products facing a levy around 47%, low enough for China's massive manufacturing base to remain competitive with regional rivals. Just as significantly, the US agreed to suspend a rule expanding restrictions on blacklisted Chinese firms, showing that Xi's sweeping rare earth curbs could potentially put a cap on new US export controls — something China has sought for years. We heard from Max Baucus, former US Ambassador to China. He spoke to Bloomberg's Shery Ahn and Avril Hong.Plus - in the US, after the bell, Amazon reported third quarter results that beat analyst estimates driven by its cloud business growth. Apple meantime, reported revenue in Greater China fell well short of analysts' estimates in the latest quarter. We speak to Ross Mayfield, Investment Strategist for Baird Private Wealth Management.  See omnystudio.com/listener for privacy information.

In the late hours in the US, Alphabet Inc. reported solid sales. Meta Platforms Inc. sees total expenses to significantly rise in 2026. Microsoft Corp.'s expansion in its Azure unit failed to inspire traders. For more on the latest earnings, we turn to Daniel Newman, CEO of the Futurum Group.Plus - Federal Reserve Chair Jerome Powell's blunt warning that investors need to rein in expectations for a December interest-rate cut underscored a growing tug-of-war among US policymakers who are opposed in their outlooks for jobs and inflation. While Powell made it clear that the primary concern for some is a cooling job market, others inside the Fed are warning persistent inflation will limit room for more easing. And a freeze on the release of official economic data during the ongoing government shutdown is only hardening the divide.Powell's comments came after the Federal Open Market Committee voted 10-2 to lower the target range for the federal funds rate by a quarter percentage point, to 3.75%-4%. It was the second straight rate cut, but for the first time in six years, there were dissents in both directions — with one official advocating a larger reduction and another preferring to stay on hold. For more, we turn to Sean Clark, Chief Investment Officer at Clark Capital. **Disclaimer, at the time of this recording, US President Donald Trump and Chinese President Xi Jinping have not met yet. They are set to meet later on Thursday in South Korea (local time).    See omnystudio.com/listener for privacy information.

Asian markets opened higher, lifted by Wall Street optimism that artificial intelligence will keep powering tech profits — and growing bets the Fed could cut rates. Stocks gained in Japan and South Korea, while Hong Kong remained closed for a holiday. The yen strengthened after Treasury Secretary Scott Bessent urged Japan's new government to give the Bank of Japan more room to fight inflation — a contrast to his message for the Fed at home. For more, we'll hear from Bloomberg MLIV Strategist Mark Cranfield.In the U.S., a rally in big tech pushed stocks to record highs as investors bet AI will keep driving earnings. Five major tech firms report later this week — key tests for whether spending on AI infrastructure keeps paying off. We spoke to Scott Ladner, Chief Investment Officer at Horizon.  See omnystudio.com/listener for privacy information.

Wall Street's hopes the US and China are nearing a trade deal lifted riskier assets, with stocks hitting all-time highs amid a rally in crypto. As demand for safety waned, gold fell alongside short-term bonds. The S&P 500 climbed 1.2% as Chinese and US trade negotiators have lined up an array of diplomatic wins for Donald Trump and Xi Jinping to unveil at a summit this week. With further Federal Reserve interest-rate cuts on the way, the profit outlook is looking increasingly brighter. For more perspective, we spoke to George Efstathopoulos, Multi Asset Portfolio Manager at Fidelity International.Plus - Earnings reports this week from five of the so-called "Magnificent Seven" companies will center around artificial-intelligence investment plans as the battle to scale capabilities intensifies. Also, investors look to the Federal Reserve meeting this week for clues on the path of rate cuts. We speak to Ahmed Riesgo, Chief Investment Officer at Insigneo.See omnystudio.com/listener for privacy information.

Top trade negotiators for the US and China said they came to terms on a range of contentious points, setting the table for leaders Donald Trump and Xi Jinping to finalize a deal and ease trade tensions that have rattled global markets. After two days of talks in Malaysia wrapped up Sunday, a Chinese official said the two sides reached a preliminary consensus on topics including export controls, fentanyl and shipping levies. US Treasury Secretary Scott Bessent said Trump’s threat of 100% tariffs on Chinese goods “is effectively off the table” and he expected the Asian nation to make “substantial” soybean purchases as well as offer a deferral on sweeping rare earth controls. Bessent spoke in separate interviews on NBC, CBS and ABC. The US wouldn’t change its export controls directed at China, he added. For more, we heard from Bloomberg’s China Correspondent Minmin Low. The Bank of Japan is widely expected to stand pat at this week’s policy meeting, but chances of a near-term rate hike are rising given the currency’s weakness, which risks pushing up domestic inflation further. For a preview, we heard from Takahide Kiuchi, Nomura Research Institute Executive Economist and Former BOJ Board Member. He spoke to Bloomberg’s Shery Ahn and Avril Hong. South Korean President Lee Jae Myung says Seoul and Washington remain stuck on “all” the major details of a $350 billion investment pledge. His comments come days before an expected meeting with President Donald Trump on the sidelines of the APEC summit in Gyeongju. Lee sat down with Bloomberg’s Shery Ahn.See omnystudio.com/listener for privacy information.

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 the next Fed meeting and earnings from U.S tech giants. In the UK – a look ahead to European defense earnings. In Asia – a look at top interviews from the APEC Finance Ministers' Meeting in South Korea. See omnystudio.com/listener for privacy information.

US President Donald Trump is aiming for a quick win in a pivotal Thursday meeting with Chinese counterpart Xi Jinping, even if the outcome falls short of the sweeping deal he's teased on issues at the heart of the rivalry between the world's two largest economies. Ahead of the sit-down, the US president said he wants to extend a pause on higher tariffs on Chinese goods in exchange for Xi resuming American soybean purchases, cracking down on fentanyl and backing off restrictions on rare-earth exports — all while maintaining some trade barriers he sees as essential. China vowed to enhance technological self-reliance and grow the domestic market in the next five years, as it looks to both insulate the economy from foreign pressures and build a sustainable engine for growth. The country will aim to "greatly increase" the capacity for self-reliance and strength in science and technology, according to a communique released Thursday after a four-day conclave of the Communist Party's Central Committee. It will also seek to maintain manufacturing's share in the economy at a "reasonable" level as part of efforts to build a modern industrial system. For more, we heard from Peiqian Liu, Economist at Fidelity International Asia. She spoke to Bloomberg's Annabelle Droulers and Avril Hong on the Asia Trade. Plus - Asian stocks opened higher Friday as a planned meeting between Donald Trump and Xi Jinping eased nerves around trade tensions. The dollar was little changed ahead of US inflation data, with investors expecting the Federal Reserve to announce a rate cut next week despite inflation being above the Fed's goal. For more on the market action, we heard from Mark Cranfield, Bloomberg's MLIV Strategist. He spoke to Bloomberg's Annabelle Droulers and Avril Hong on the Asia Trade. See omnystudio.com/listener for privacy information.

Next week, the Asia-Pacific Economic Cooperation Summit will be underway. President Trump is expected to meet with South Korea President Lee Jae Myung and Chinese President Xi Jinping for separate bilateral talks that may shape trade relations for years to come. In the states, senior South Korean officials visited Washington today to resume trade negotiations to bridge their differences over Seoul's $350 billion investment pledge under a bilateral trade deal struck in July. For more on what's ahead at the APEC Summit, we heard from Kang Kyung-hwa, South Korean Ambassador to the United States. She spoke to Bloomberg's Joe Mathieu and Julie Fine on Balance of Power. And - South Korea and the US are focusing on the structure of a $350 billion investment pledge by Seoul, rather than a currency swap, according to Finance Minister Koo Yun Cheol. Officials in Washington including Treasury Secretary Scott Bessent now see the potential for a shock to Seoul's foreign-exchange market from an "upfront" deployment of funds, Koo told Bloomberg TV in an interview on Wednesday that also touched on weakness in the Korean won stemming from the unfinished deal, car tariffs and AI technology. He spoke exclusively with Bloomberg's Shery Ahn about the progress of talks, on the sidelines of the APEC Finance Ministers' Meeting in Incheon, South Korea. See omnystudio.com/listener for privacy information.

Japan's Sanae Takaichi has become the country's first female prime minister, vowing to strengthen the nation's economy and defense capabilities and enhance relations with the US. Takaichi faces challenges including quelling discontent over the cost of living, dealing with a looming visit by US President Donald Trump, and reviving the fortunes of a ruling party that has lost its dominance. Takaichi has formed a cabinet and plans to deliver results, including implementing a trade deal with the US and alleviating the impact of inflation, and will meet with President Trump at an early date to elevate Japan-US relations. We get perspective from Rintaro Nishimura, Senior Associate in The Asia Group's Japan Practice. He spoke to Bloomberg's Avril Hong and Annabelle Droulers. Plus - Sanae Takaichi has just been confirmed as Japan's first female prime minister. But more important than her gender might be her taste for head-banging — in music and politics. That is according to Bloomberg Opinion Columnist Gearoid Reidy. He spoke about his piece to Bloomberg's Avril Hong and Annabelle Droulers.See omnystudio.com/listener for privacy information.

Japan's ruling Liberal Democratic Party sealed a new coalition deal that sets up Sanae Takaichi to become the country's first female prime minister. LDP President Takaichi and Hirofumi Yoshimura, co-leader of the Japan Innovation Party, also known as Ishin, signed the coalition agreement on Monday evening. Combined, the LDP and Ishin hold 231 seats in the lower house of parliament. While that is two seats shy of a majority, divisions between opposition parties mean Takaichi is almost certain to win a parliamentary vote on Tuesday to decide the prime minister. We get perspective from Sheila Smith, Council on Foreign Relations Senior Fellow for Asia Pacific Studies. She spoke to Bloomberg's Shery Ahn and Avril Hong. Plus - Wall Street traders drove stocks higher amid solid signals from Corporate America and hopes that tensions between the world's two largest economies are cooling. Bond yields edged lower. With the earnings season well underway, about 85% of the companies in the S&P 500 reporting results so far have beaten profit estimates. That's helped fuel a rebound in equities, with the benchmark notching its best two-day gain since June. Sentiment was also buoyed by expectations the trade war will de-escalate as the US and China return to the negotiating table. We heard from Carol Schleif, Chief Market Strategist at BMO Private Wealth.See omnystudio.com/listener for privacy information.

Asian stocks opened higher on Monday following two consecutive weeks of declines as easing trade tensions between the world's largest economies bolstered sentiment. Shares in Japan and South Korea rose, while Australia dipped, after the region's equities fell on Friday amid concerns on US regional banks. Also, one of China's most important meetings begins on Monday. Chinese President Xi Jingping and other ruling Communist Party Elites will gather in Beijing to map out goals for the next five years. For more, we heard from heard from Fabien Yip, IG International Market Analyst. Yip spoke to Bloomberg's Shery Ahn and Annabelle Droulers. Plus - Lawmakers in the Japan Innovation Party (Ishin) are set to meet this afternoon to decide whether to form an alliance with the ruling Liberal Democratic Party that would likely lead to Sanae Takaichi becoming the country's first female prime minister. A gathering of Ishin lawmakers from both houses of parliament that begins at 2 p.m. in Tokyo may be followed by a meeting between Takaichi and Ishin leaders in the evening to confirm the alliance before a vote in parliament tomorrow to elect a prime minister, national broadcaster NHK reported. For more perspective, we heard from Nicholas Smith, CLSA Japan Strategist. He spoke to Bloomberg's Annabelle Droulers and Shery Ahn.See omnystudio.com/listener for privacy information.

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 from Tesla and Netflix. In the UK – a look ahead to European bank earnings. In Asia – a look ahead to a meeting between President Donald Trump and Australia Prime Minister Anthony Albanese. See omnystudio.com/listener for privacy information.

Japan's Finance Minister Katsunobu Kato voiced serious concern over China's latest export controls on rare earths, stressing the importance of coordinated action from Group of Seven nations. "Japan is deeply concerned about these measures," Kato told reporters in Washington on Wednesday, referring to China's latest trade measures. "I called for G-7 nations to unite and respond," Kato said. Kato spoke following a G-7 meeting held on the sidelines of the International Monetary Fund and World Bank annual meetings. Also in Japan, ruling party leader Sanae Takaichi's chances of becoming prime minister strengthened after progress on policy talks with the Japan Innovation Party, with Monday emerging as a deadline for deciding whether the parties form a new coalition. The Liberal Democratic Party and the Osaka-based JIP, also known as Ishin, confirmed they are on the same page on major policy items. But one major sticking point remains in place: reforms on political funding rules. For more perspective, we speak to Shuntaro Takeuchi, Portfolio Manager at Matthews Asia. Plus - Stocks slid, extending a weeklong stretch of volatility on Wall Street, as bad loans at two regional banks stirred concern about credit quality in the economy and further underscored the fragility of the $28 trillion bull market. Following an earlier advance driven by another solid outlook for artificial-intelligence demand, the S&P 500 turned lower as a pair of regional lenders disclosed problems with loans involving allegations of fraud, adding to concern that more cracks are emerging in borrowers' creditworthiness. We turn to Jeff Palma, Head of Multi Asset at Cohen & Steers.See omnystudio.com/listener for privacy information.

US Treasury Secretary Scott Bessent dangled the possibility of extending a pause of import duties on Chinese goods for longer than three months if China halts its plan for strict new export controls on rare-earth elements. The US and China have agreed to a series of 90-day truces since earlier this year, with the next deadline looming in November.  Australian Prime Minister Anthony Albanese is set to have his first sit down in the White House with President Trump next week. The meeting comes as the Trump administration's interest in critical mineral resources has fueled speculation the US government may take stakes in Australian miners as part of a broader strategic relationship. Also key for Albanese is the fate of the Aukus security agreement that the US signed with Australia and the UK in 2021 to counter China's military expansion in the Indo-Pacific region. Central to the deal is a project — expected to cost hundreds of billions of dollars — to help Australia develop a fleet of nuclear-powered submarines. To help us preview the meeting, we speak to Bloomberg's Paul Allen. Plus - Wall Street was lashed with volatility as investors struggled to gauge the scope of trade tensions between the world's two largest economies. Stocks rallied, plunged, then rose anew amid optimism over earnings. As the earnings season got under way, Morgan Stanley and Bank of America Corp. jumped on solid results. We speak to Keith Buchanan, Senior Portfolio Manager at Globalt Investments.See omnystudio.com/listener for privacy information.

US President Donald Trump said he might stop trade in cooking oil with China, injecting fresh tensions into the relationship between the world's two largest economies. Trump on Tuesday cast the potential move as retaliation against Beijing for its refusal to buy American soybeans, which he said "is an Economically Hostile Act" that is purposefully "causing difficulty for our Soybean Farmers." The benchmark S&P 500 turned negative as Trump's comments re-escalated the conflict with China. Just hours earlier, both Trump and US Trade Representative Jamieson Greer expressed confidence that friction would ease through ongoing trade talks. We get perspective from Sandra Swirski, Founder & CEO of Integer. Plus - Earnings season has just kicked off. A gauge of big banks jumped after solid results from financial giants. Also today,  Federal Reserve Chair Jerome Powell signaled the US central bank is on track to deliver another quarter-point interest-rate cut later this month, even as a government shutdown significantly reduces its read on the economy. For more, we turn to Rob Williams, Managing Partner and Chief Investment Strategist at Sage Advisory Services.See omnystudio.com/listener for privacy information.

US President Donald Trump and Chinese leader Xi Jinping's latest tit-for-tat showdown has both countries claiming the ball is now in the other's court, with the clock ticking toward another escalation in import tariffs. Meantime, Treasury Secretary Scott Bessent said Monday that he believes the Trump-Xi meeting "will still be on," noting there had been "substantial communication over the weekend." In the meantime, he expected US-China staff-level meetings this week, along with moves by the Trump administration to mobilize US allies to put pressure on Beijing, while also threatening "straight brute force countermeasures" if Beijing doesn't act. For more on how this impacted the markets, we heard from James Aitken, Aitken Advisors Founder & Managing Partner. He spoke to Bloomberg's Paul Allen at the Citi ANZ Investment Conference. Plus - Wall Street traders lifted stocks as the US and China signaled willingness to keep trade negotiations alive, Middle East tensions cooled while the artificial-intelligence rally powered ahead. Following its worst rout in six months, the S&P 500 jumped 1.6% to extend a bull market that's already added $28 trillion to its value. The benchmark saw its best session since May. A key gauge of chipmakers surged nearly 5%. Broadcom Inc. soared about 10% as OpenAI agreed to buy its custom chips and networking equipment in a multiyear agreement. For more, we spoke to Matthew Tuttle, CEO and CIO of Tuttle Capital Management. See omnystudio.com/listener for privacy information.

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.See omnystudio.com/listener for privacy information.

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.  See omnystudio.com/listener for privacy information.

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.See omnystudio.com/listener for privacy information.