haidi: welcome to daybreak australia. markets have just come online. annabelle: i'm annabelle droulers in tokyo. we are coming down to asia's major trading opens and the top stories. traders await jay powell's congressional testimony and the u.s. jobs report. elon musk using the world's richest person crown to jeff bezos as tesla slumps. paul: also ahead, -- haidi: also ahead, the supreme court puts an end to attempts to keep donald trump off state ballots. >> i'm stephen engle in snowy beijing for the opening of the national people's congress. an openin -- a warning not to invest in china underscores the leaders. haidi: we have breaking news to kick off the hour. south korea gdp numbers coming through on the bloomberg. we are seeing when it comes to

the revised fourth quarter number, the preliminary number when it comes to seasonally adjusted quarter on quarter coming in line with expectations. 6/10 of 1% higher. the year on year number in line with expectations. the annual gdp for 2023 at 1.4 percent. all of those readings are in line with expectations. we did see the preliminary numbers showing the same when it comes to the readings. we have seen relative resilience when it comes to things like exports driven by chipmakers in south korea. we did see an unexpected drop in industrial output earlier on this year suggesting we have seen some let up when it comes to the key driver of semi conductors. looking to see how all of this feeds through to what we expect from the bank of korea.

let's take a look at how this going to feed through and it comes to trading in asia. we are getting australia just trickling online. a mixed picture on wall street. a sense of restraint. no big bets are being made. no major positions ahead of a weakened that holds significant data. seeing signs of fatigue when it comes to trading. not just the u.s. but we have seen the likes of australia hitting record highs. a 10th of 1% to the upside as we get sydney coming online. watching some of the companies trading. watching some of the dealmaking side when it comes to announcements we have seen from the likes of bhp as well as mccoury. the aussie dollar holding steady. we saw the u.s. dollar trading in narrower range in the monday session. traders way the key data points. some declines in it comes to the

yen and the swiss franc. the bloomberg dollar spot index much flat. kiwi stocks off by 4/10 of 1%. we did get the budget deficit coming in narrower than projected from the new zealand treasury. revenue a little less than expected. the dollar-yen still over the 150 threshold. annabelle: the moves we are seeing reflect the trend we had any the u.s. session overnight. it was a little bit of downside mood coming through. seeing in futures today fairly flat at this point in time. traders are awaiting key events on the horizon. you have powell's testimony. also more jobs data ahead. if we are going to see further gains coming through for the s&p 500, you're going to see a couple things coming through. your going to need to hear

encouraging words from jay powell about the outlook for rate cuts. you're going to have to have no major surprises coming through on the jobs numbers. off the back of that, not taking any positions at this point in time. we did see weakness coming through in the intraday session. yields moving higher. futures are flat. oil, continuing to hold. wti coming online. muted today. . we did see it retreating back from data dollar level overnight. the opec-plus coalition. we have the extension of supply cuts coming through. it was very much anticipated by traders. that is the market action we are seeing. let's shift to china because the most important political meeting of the year is about to begin with the premier's work report opening to the national people's congress. officials have been forced to defend the decision to scrap the traditional press briefing for the first time in 30 years. our chief north asia correspondent stephen engle

joins us live from beijing. this is the first time we have seen this happening in three decades. talk us through the significance of a press conference like this not going ahead. >> it is significant because this is the one chance a year that the public or the journalist community get an opportunity to pose questions to a senior leader. usually -- it is always the premier. in years past it has been an area where they were able to talk extensively about certain policies and explain things in great detail without necessarily a script. for people like we could chunk and wen jiabao, they garnered a bit of respect and camaraderie with the people of china. the premier did.

the leader of course, the president in this case xi jinping, is not speaking. does not hold press conferences ever. there is a disconnect and a distance between the people in the president. the premier was able to get more hands-on. that has been scrapped. it should also be not too surprising given how xi jinping has taken an unconventional approach to governing especially in his precedent busting third term. there been complaints not only for international investors but also domestically that there is not a lot of transparency in policymaking and in communication. taking away this opportunity to ask questions even if they are scripted or not questions, it takes away in avenue to ask direct questions of senior leaders and adds more questions about the transparency of this

government ship you mention at the top how goldman sachs in this interview is saying clients have been every client ask them is now the to get into china and her advice was no. that was not the time because of the repeated stresses in the chinese economy. the main pillars are under stress of the chinese economy. there is policy credibility and lack of transparency in policy. that is where we are waiting at 9:00 new premier, li qiang will lay out his work report and his priorities. it will be the first clips what the senior leadership wants to do in 2024. in the autumn, they did not hold the traditional third plenum which lays out economic priorities for the long-term. we are guessing they will be trying to tackle the big economic challenges.

haidi: opacity when it comes to other parts of government. we have been waiting for an appointment of the foreign minister. we are not likely to get that either. >> because yesterday we got the agenda for the national people's congress and this loads onto the points i just made. the agenda is truncated. the npc is only seven days should usually it is 10 days. singh from the agenda were appointments meaning we are not going to get a new foreign minister. qin gang was removed after seven months in office. the shortest tenure ever for a foreign minister in china. we don't really know the reasons. that leads to the issues of opacity. there is no agenda item two appoint a new one. the state council who has taken

over the previous job will stay on as foreign minister. annabelle:annabelle: our next guest sees japan as being a main beneficiary out of the weakness we see in china. supply chain shifting away from the world's second-largest economy. let's get more from the chief investment strategist at century wealth. this is probably one of the minor points as to why we have been seeing flows being driven into the market in japan. >> that is correct. i am not a specialist on japan. i focus on the united states. global markets are important. when you have a market that has not broken out into all-time new highs in 30 years, that is significant. what japan breaking out to record all-time highs is telling us is they are moving into a new secular bold market. i know that is odd to say given

how much the market is up but i want to contrast that to the u.s. market. it would be similar to the s and p breaking out of its highs in 2013 above the 2000 levels. you can see where we are today relative to 2013. i think there is a lot going on in japan and it is not just japan. we are seeing record all-time highs coming out of europe and some of those economies are actually weak. australia is heading record all-time highs. there is something happening on a global scale. ai is a major driver. there is a lot more behind this other than ai. part of china slowing down is in the fitting other countries. there seems to be another leg. another global growth cycle that seems to be occurring right now.

haidi: what we are also seeing is the momentum trade. that is playing out in japan in the stronger sense. . we are seeing that across markets across asia and the u.s. is it concerning their is a lack of variety in this rally? >> believe it or not there is a lot of variety. people are misunderstanding what is happening because everyone has been so focused on the magnificent seven which now they called the fantastic four. when we look at the industrial sector, it just broke out of a three-year trading range. at a record all-time high. when we look at consumer discretionary, that sector is not at a new time high but we are seeing momentum. we are seeing retail perk up. homebuilders are at record all-time highs. financials are moving. we are seeing insurance, part of the capital markets, part of the

asset management to this is a market that is broadening out i think is misunderstood and if people don't understand the significance of the moves that are happening, they are going to miss out because we raised our target range for the s and p in november. we had a target range of 5200 to 5000 on the snp. just upped that last week to 5402 5800. our long-term target is 7000. this is a major secular bull market. in many cases, it is still early in the breakouts we are seeing and semi conductors are the key and they are the major leaders. annabelle: what is it people are misunderstanding? if you are saying people are going to miss out if they don't actually fully conceptualize and are cognizant of the market driver, what is it that people

are not getting? >> i think people are too focused on 1999 and 2000. there are some stocks that have had bubble kind of moves. when we analyze the market, we think this behavior is similar to the mid-1990's. we were starting to see the productivity enhancements from computers coming into business. inventory. the internet was coming online. there was significant productivity enhancements that positively impacted earnings. part of the challenge we have on a global scale is how do we analyze ai and how do we price this into the earnings of the companies? become -- the market is already starting to do that. if we are going to use a piece of analysis of history, it is

not 1989 and 2000. it is the mid-1990's. if you sell the markets from 1996 to 2000, there was a significant rally. back then, our fed chair alan greenspan in december of 96 called irrational exuberance and yet the market still covered -- still double over the next two years. it is too early to say we are you rational. this might be the early stages if it is a bubble. annabelle: it seems like you are alluding the productivity gains will be driven by ai. you have said chipmakers are the key here. nvidia we have seen the huge run-up in the stock but are they are trying to be a competitor to nvidia. they are not there yet. that stock is significant. believe it or not, nvidia on a pe basis is trading cheaper than amd. i cannot remember any time in my life a stock went up so

dramatically and the p/e ratio went down. nvidia is a very special and unique company. the one that is riding its coattails is amd. when you look at the semi conductor etf, there a many stocks. number of stocks that are moving. so my conductors have led this whole cycle. for me, these are the leaders you want to pay attention to. i've always called them the brains of the computer. this is where you get your evolution and you get your upgrades and your software. the true leader is semi conductors. i don't see that train stopping anytime soon. annabelle: chief investment strategist at sentry wealth. still ahead, we will look at china's climate goals for t engine and what they expect of the npc on the energy transition. first, the u.s. supreme court

ruling putting donald trump back on state presidential ballots just ahead of two super tuesday. details next. this is bloomberg. ♪ thanks to avalara, we can calculate sales tax automatically. avalarahhhhhh

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annabelle: the u.s. supreme court has ruled donald trump can appear on presidential ballots this year. the move puts the end to state efforts to keep him out of the election under a rarely used constitutional provision. bloomberg political news director jodi schneider joins us from washington. what does this mean exactly for

donald trump presidential campaign? >> it basically means he can continue to be on all the ballots in which he qualifies. it would have been somewhat chaotic for him to be not be able to be on some and be on others. colorado was the case this was brought from. but in -- state election officials in maine and illinois had also made this case. there could have been others as well. this basically says he can go ahead. he does not have to mount state-by-state kind of defenses is to be on the ballot. he should be on the ballot in all the states. it makes that clear. the reasoning hind it was somewhat interesting in that they said in a 13 page unsigned opinion. there was not one --

this means congress should be the one to decide if someone is not eligible for the ballot\. various states should be undertaking especially under this particular amendment, 14th amendment and section three. they said states should not be the ones determining this. it should only be congress. annabelle: we know that neil gorsuch and amy coney barrett and brett kavanaugh were trump appointees. i'm curious what that split on the decision was. >> while it was unanimous in terms of the overall decision, it sounded like somewhat of a dissent almost from the three liberal judges but then amy coney barrett joined them for that basically saying they thought this decision went a little too far in its reasoning, in its rationale.

in the long run, that does not mean a whole lot. some are asking whether this -- are we determining anything for this in terms of implications for another big election case the supreme court is deciding now that have said it will hear arguments in april and will decide after that which is a very big deal whether donald trump is immune from prosecution because he was president. actions undertaken while he was president. i'm not sure the legal scholars think there is a whole lot to be read into that particular decision. how they might decide that from today's ruling. haidi: our bloomberg political news director in washington. we will keep you updated on the u.s. presidential race. our special coverage of super tuesday begins at 10:00 a.m. on wednesday if you are watching in hong kong. that is 1:00 p.m. in sydney. apple shares fell to their lowest level as we continue to

watch for reaction across the light trading -- the late trading. we will get you much more on that story a little bit later. this is bloomberg. ♪

haidi: apple shares fell to their lowest level since november after the tech giant was hit by 2 billion penalty from the european union. apple is being investigated for allegedly shutting out streaming rivals including spotify on its platforms. let's bring up our technology reporter who covers all things apple. he joins us in los angeles. what are the implications? >> thank you for having me. this is a historic day for apple.

this is the biggest fine in apple's history for anything related to antitrust. they received a $13 billion ruling in relation to taxes being stored in ireland and savings happening in the u.s. from the antitrust standpoint, this is a big deal. this is like you said a 2 billion-dollar fine. the majority comes as additional penalties that you decided to -- the e.u. decided to slap on top. it is difficult to understand how they calculated the rest. they believe apple is deserving of this. they believe apple shut out spotify. other services in the e.u. it is time for the iphone maker to pay up. the other big point they said is other companies are free to sue apple over this. the penalties for apple could continue to stack up beyond this

initial $2 billion. annabelle: perhaps this is a precursor for what is to come because the pressure on apple in the e.u., are we likely to see it extending to other parts of business in the region? could extend to other geographies? >> i'm going to ignore the e.u. because this is a 2 billion-dollar fine. probably a one and done. i'm assuming the e.u. argue with apple on how they are complying with the digital markets act. compliance will come into effect tomorrow. let's put it on the back burner for a second. something significant is going to happen probably in two weeks. the united states is going to sue apple. the department of justice is going to file a lawsuit against apple in relation to antitrust for things ranging from the app store to the payment chip in the phone to other features where the government believes apple is

stifling competitors whether that is hardware makers of accessories like tile or app developers spotify. like i said, the u.s., they are going to sue apple. that has the potential to be far more significant than this to billion-dollar fine. annabelle: certainly we are seeing a lot of pressure on apple stock already. will be tracking that closely. mark gurman in los angeles. just ahead, weep you view the trading day -- we preview the when i was your age, we never had anything like this. what? wifi? wifi that works all over the house, even the basement. the basement. so i can finally throw that party... and invite shannon barnes. dream do come true. xfinity gives you reliable wifi with wall-to-wall coverage on all your devices, even when everyone is online. maybe we'll even get married one day. i wonder what i will be doing? probably still living here with mom and dad.

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annabelle: breaking news here. tokyo inflation numbers dropping. tokyo inflation, a leading indicator for the nationwide reading. we have seen the core cpi coming

in in line with estimates rising 2.5% on the year. a big increase from the month prior where it was 1.6%. there are a couple different factors. the main one is base effect. when you take a look at the earlier base, we had a lot of energy subsidies coming through. the jump you are seeing to 2.5%, the core reading could be a reflection of that. not really a broader search in price pressures. the headlight reading -- headline reading coming in stronger than expected by economists. the reading is 2.6%. the survey had been for 2.5%. the core core in line with estimates at 3.1%. is this going to be something that forces the boj to shift earlier? a review from bloomberg economics was that will not be the case. they are still expecting a pivot in july. the tokyo inflation numbers getting through, a dovish policy

setting from the boj has been one of the factors we have been tracking for the continued rally in japanese equities. yesterday the story was the nikkei 225 climbing above the psychological level of 40,000 points for the first time ever. the prime minister says the influx of foreign investors is promising. >> it is encouraging to see the market's positive response to our efforts in the transformation of the japanese economy. this year is a critical time. the government is committed to achieving a virtuous cycle that includes structural wage increases. annabelle: for more, let's bring in our asia equities reporter. the key question we have got in this is how long is this going to be lasting. >> this time as we hit the 40,000 mark, it is showing the bullishness in the market. we spoke to blackrock, telling

us japan is in this sweet spot. the u.s. having strong earnings growth but the valuation is pretty high. on the other hand, you have europe on the opposite. you put japan in that unique position for global investors to have the positioning in their portfolio. another interesting is japanese equities is still a major underweight for global investors. once we see the change in the global investors appetite, that may lift japanese equities further up. some of the domestic investors who visited europe recently told us they are hearing the investors are curious about japanese equities and are willing to buy on the dip. we are excited to see where the market is going to go from here. as we -- the investor in the market say that with the earnings growth, the yen

remaining quite weak and the tokyo stock exchange, those are some of the key catalysts that will drive the market further. haidi: there seems to be concerns around the rally getting overheated. what are the risks going forward? >> one of the key risks is when we compare the topix index anthony k, you see the nikkei reaching the record high but the topix index is 6% away from the record. yesterday when the nikkei hit the milestone of 40 k, the topix index slept. some investors are worried maybe the rally is still too narrow given by some of the key tech stocks. it is important for them to be more convinced the broader rally expanding as we see some of the other stocks rising with the rally. another point is around the yen.

although the boj is unlikely to change the outlook of the yen because they want to stay in an accommodative monetary policy for the market, as we see how the fed might cut rates in the coming months, that might have a bigger impact on the yen. watching the yen's potential appreciation weighing on the japanese market is another risk we need to be mindful of. we mentioned the cpi. some investors are thinking the rally is going too strong and the momentum -- the economy is not catching up with the markets momentum. we might see a mix in the economic numbers. you might have strong capex numbers. the cpi in line. the gdp was still pretty weak. the market is thinking we should keep an eye on if the economy is

keeping up with the market. haidi: take a look at morning calls as we are watching jp morgan's chief market strategist seeing the dramatic rally in u.s. stocks in bitcoin as indicative of rising froth under the market. is where conditions typically precede a bubble. he says investors may be assuming -- earnings projections are going down. he has the market appears too complacent on the cycle. goldman sachs wealth management cio says china's stock market decliners are not enough to warrant putting money into the country. she sees the economy struggling in the property market, infrastructure and exports. >> given how cheap china peers, people in evitable lycee, has it discounted the worst news?

i review is one should not invest in china. we think the economy is going to continue to steadily slow down for the next 10 years. that is an important factor. when we are looking at policy uncertainty, it is not clear what the overall general direction of policy will be long-term. haidi: also sharing his bleak the on china is the ruby need ceo. >> i am more concerned about china than europe. europe has been in stagnation for the last few quarters. . same thing with the united kingdom. given the shock that came from russia and ukraine, it could be a real hard landing. the other problem with europe is aging lack of technological innovation and things that are more structural. china is a more serious story.

i would say most people estimate the potential growth for china is going to be between 2% to 3%. a story not just of aging. because of geopolitical stuff. a story of less growth. consumer and business sentiment is in a funk because of the policies of xi jinping. consumption [indiscernible] people have to say for old age, for retirement. if they get sick, if they get unemployed. there will be structural reasons why growth in china is going to be two or 3%. >> is that a disinflationary shock or an inflationary shock for china to be growing at a much slower pace? >> it is inflationary for china. we see it in the data.

it is disinflationary and the world for two ways. china is dumping on global markets capacity. the chinese currency weakening means the other currency is appreciating. china is growing less. part of the global inflation for the last few years has been commodity. it is slowing down china. it is deflationary for the global economy. >> does the economic malaise -- is that what you would expect? >> i'm not sure because they have a very aggressive foreign policy. they realize it is a -- policy. they have to worry about the economic growth. the national people's congress is right now. . they are very insecure. the reaction to the taiwanese election has been relatively moderate. it could be much more

aggressive. they are realizing the situation like this one escalating tensions with the u.s. is not good for them. it is not good for relations with europe. they are taking a more cautious approach. they're shutting to worry about the stock market. and probably after the xi jinping and biden getting last fall, there has been a beginning of something of a thaw. i don't think it is a strategic change. probably for the next 12 is when he for months the relationship is not going to escalate in a negative direction. >> could we see any more stimulus coming out of the chinese government? >> some people have suggested they should have much more monetary and fiscal stimulus. xi jinping is resisting it in part because there is too much debt and deficits. doubling down on credit fuel, fixed investment is going to be dangerous. even the chinese realized the slowdown of growth is structural

and not cyclical. you have a shorter boost of growth. only short-term. your pretty more debt and leveraging more financial risk. there will be some stimulus. without the stimulus, the target of 5% is not going to be achieved. potential growth in china is less than 4%. they see growth being closer to 4% rather than 5%. there is some stimulus because without it -- not as much stimulus will get you 5%. something in between. haidi: that was of the roubini macro associates ceo. we will have a closer look at china's climate goals and how it could impact this week's this is bloomberg. meeting in -- this week npc in beijing. this is bloomberg. ♪

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you don't have to worry about things like changing tax rates or filing returns. avalarahhh ahhh haidi: china is underperforming on one of its main climate goals which is cutting the amount of energy to the for economic growth adding back on track would be a focus at the national people's congress but to do so would require an ambitious target to reduce energy intensity for the year. for more on this, let's bring in our bloomberg any of head of

china research who joins us in beijing. china lester witness a unique trend where energy growth outpaced gdp growth for the first time in 20 15 and this is something that has typically been correlated. what does that pattern tell us? >> it last year we see the primary consumption growth at a very fast pace compared to the economical expansion rate. in 2023, that was the first year china lifted the covid restriction. economic activity restarted and there is more energy consumption that is needed to compensate for the energy required for the economic activity. we should say the main reason behind the primary energy consumption is greater than the gdp growth is because of the extreme weather. the last year it was a drought

year especially in the first half of 2023. for the whole year, the hydropower generation was 5% decline from the previous year. china has to use more coal to compensate for the shortfall of the hydro production. there is another factor i wanted to highlight. right now, china is commissioned to reduce emissions and -- from its manufacturing sector. that has to consume more energy for you to absorb the emissions. on the way towards the net zero amendment, china has to consume more for its manufacturing sector. basically those, the extreme weather. the zero commitment has contributed to primary energy

consumption. looking forward to 2024. expectation for the slowdown and we will see the primary energy consumption will -- growth will decrease. basically, they are still aligned with each other. haidi:haidi: a lot of that focus on renewables has come down to china solar capacity and we have seen a huge explosion of growth in that sector but what segments have primarily driven the expansion of it? >> the solar sector is very astonishing growth. 256. the biggest propeller behind it is utility scale. that is a large scale investment. the main reason is because of the -- more than 40% in 2023.

the price has actually increased. in 2023, we see a huge decline of the price. the utility sector, by professional investors. they are super sensitive about the economics. the falling price which means improved -- has to support a lot of the growth. another reason behind it is the chinese central government's commitment. this is an ambitious plan to build large-scale slower in the desert areas to withstand the power to the central and coastal provinces in china. looking forward to 2024, we are going to see these sectors support the growth for the utilities sector. i don't think this will create

tight supply. the manufacturing and supply chain, there is large overcapacity. we are going to see the price decline even further in 2024. haidi: there's been so much downside pressure and companies are reacting. is that going to be the main challenge for the market? >> besides that we will see volatility. last year, 50% of the solar generation in the liberalized market. it has created a sharp a challenge for the investors because previously all of the investment is based on a power prices. the power prices have become volatile and that created more uncertainty for them. beyond that, we see there is new consumption in the market.

the government and the minister has not -- there is a new barrier, a new -- to the advancers. annabelle: when you take a look at china's five-year plan to reduce carbon emissions per unit of gdp by 18%, how likely are we to meet that given all you have said so far. >> china is still on track to meet the intensity target. you can see china has expanded so fast in terms of wind solar and other zero emission technology like hydro and nuclear has been very fast. previously most of -- based on the coal improvement.

we turned the zero emission sources back into coal. that is not really make sense if you try to phase out the fossil fuel. china has changed the way it calculates energy and intensity. we are going to remove the renewable sources from the energy consumption when we calculate energy intensity. that will help a lot. annabelle:annabelle: head of china research. thanks for your time and be sure to tune in to bloomberg radio to hear more from the days big newsmakers and get in-depth analysis from the daybreak team broadcasting live from our studio in hong kong. you can listen via the app, radio plus or bloombergradio.com. plenty more ahead. stay with us. ♪

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annabelle: you're watching daybreak australia. 50 minutes so far into the aussie trading session. a little bit of downside pressure creeping through. the moves are not big so it is a reflection of the wall street session. it is very much the way and see tone. traders are awaiting powell's testimony to congress. a two day testimony. jobs data as well.

traders want to get encouragement on the outlook for rate cuts. that could propel u.s. stocks higher. weakness coming through. we are tracking the inflation picture in other parts of the world. we had yesterday a local media report in kyoto saying japan's government could consider calling in end to inflation. have had a response coming through from suzuki saying they are not going to be considering calling an end to inflation. that is the response to the kyoto resort -- kyoto report. it said they could be considering a policy shift. the market reaction, we are seeing tracking what we had on the wall street session. we did have tokyo inflation numbers coming out earlier. it did show a pickup in inflation shared a sharp acceleration from the month prior. that could have been down to base effects. when you think about where we

were last year with japan or tokyo, it was when we had energy subsidies in place could have been repressing those prices as well. haidi: let's take a look at some of the corporate stories we are watching. morgan stanley said to have held talks with elon musk to refinance a debt package that helps them take x private. talks to strengthen the 12.5 bullion delay package faulted earlier this year after discussing options such as reducing the cost of the debt. the bank group has been stuck with the debt since 2022 wedding for a cornet itself once x was on a stronger footing. elon musk has lost his world's richest person entitled to jeff bezos after tesla shares slumped within 7%. tesla shipments from the china factory fell to 60,000 cars in february. down from 19% year on year and the lowest since december 2022. tesla is facing renewed price competition in the world's largest tv market. forex twitter executives including the -- are suing elon

musk for allegedly stiffing them on more than 128 million dollars in severance payments. the complaint says the company musk renamed has become a scuffle it not pay its bills. a spokesperson for x has declined to comment. jetblue shares climbed after it formally abandoned its pursuit of spirit airlines the carrier had determined the required legal and wiggle toy approvals were not likely to be met by specified deadlines. the move comes over a month after a u.s. federal judge blocked for 3.8 billion dollar acquisition on antitrust grounds. annabelle:annabelle: it is a pretty busy few moments here for japanese officials speaking in tokyo because we heard from the economy minister speaking in tokyo and he is saying he is seeing positive changes in japan's economy as stocks continue to climb.

we have nikkei futures indicating we are going to open a little under the key 40,000 market. we did top that yesterday for the first time ever. lines we getting from saito. they track what we heard from suzuki where he said that they are not going to be considering calling and end of deflation. that is japan's finance minister. referencing the kyoto report yesterday saying they would be considering an end to deflation. this is the outlook for japanese markets. japan and south korea opening at the top of the hour. this is bloomberg. ♪

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training online right now going to beijing li qiang annual report delivering to delivering the comment that is all of the people security and area including wisely wait for the economy slowing we didn't get that kind of tree not getting everything from any account which tooth guy is really some consummation for investors to take the land grant platform to lend more than but will also looking for japan's retradi