Timeline for a meeting. Hasident trump warning he he is looking other Companies Including alibaba. Proving theto be adage, first in, first out. It could be the only major nation to grow this year. New zealand reports more infections, weakening its reputation as a covid19 beater. The Prime Minister is preparing to speak. She may delay the election. Shery lets get a quick check of markets. U. S. Futures rising at the open. We are seeing futures up to tencent 1 . This after u. S. Stocks ended the session mixed. Fluctuating throughout the session for much of the day. Just to fall slightly negative territory with utilities and health care. Recover any the u. S. Has slowed. We also have stimulus talks remaining at a stalemate. The nasdaq fell to 10 sub 1 while the dow was fell 2 10 of 1 . Signs of been some Energy Demand recovery in the u. S. That is gaining tracking gaining traction. Crude gaining a quarter of half a half of 1 . Same for brent crude, which is nearing 45 a barrel. We had american crude piles declining after imports from saudi arabia dropped and gasoline consumption rose. The dollar remaining flat. Haidi as we expected, we are healing from we are hearing from the new zealand Prime Minister. Lets listen in. She is expected to address implications of the latest outbreak on the september election date. Election withfair the opportunity for all parties to campaign. And finally, certainty and the need for an election to be held in a timely way. Ultimately, i went to ensure we have a wellrun election that gives all voters the best chance to receive all the information they need about parties and candidates and delivers certainty for the future. With these considerations, i reached out to the leaders of every Political Party with representatives in parliament. Under normal circumstances, the choice of what day the election is held is a decision that solely rests with the Prime Minister. However, under these extraordinary circumstances, i see the decision to move and election day is a different proposition that deserves to be treated as such. Living in obey and election date especially in this light is a significant decision. Is what is inost the best interest of our voters and democracy. Any decision to review the election date must be free from partisan political interest as possible. It is fair to say there are a broad range of views among Political Parties and that complete consensus is unlikely. There were some areas of agreement. The need for certainty was one. In this respect, the calculation on when to hold an election is not. An easy one covid is continuing to district wife around the an easy one. Not covid is continuing to disrupt life around the world. This is why many countries have had elections while managing covid including south korea, singapore and poland. Issues and a broad range of issues, i have received advice on a range of options including retaining the date of the 19th of a sub september, moving the election to the 17th of october and the final possible date the commission considers the election could be held, or to the 21st of november. These weighed all factors, i have decided to move the election by four weeks to the 17th of october. At the end of last week, i was advised that this is achievable and presents no greater risk than had we retained the status quote. I have been advised that moving to a 17 october election day, the commission will be able to draw on much of the work already undertaken to deliver the election. Beginning early voting during School Holidays while having the downside of some people moving around the country would mean some additional facilities would become available for the purposes of early voting. The biggest risk to overcome will be ensuring access to the election day workforce, which includes 25,000 workers. This has been identified as a risk no matter what day is chosen. I did consider the possibility of moving the election by the same haidi youre listening to the new zealand Prime Minister speaking this morning, addressing the implications of the latest lockdown and a revival of the coronavirus cases in new zealand on the september 19 election date. She has Just Announced they will be pushing up the election day by four weeks. The new date will be the 17th of october. Saying there are big rests to overcome including access to a labor force. She acknowledges pushing out the election does not eliminate the uncertainty and the need for certainty was a bipartisan issue when she reached out to major Political Parties. She said she sees a decision to postpone the election as one for all Political Parties. That decision to push it out by four weeks to october the 17th was one that came to agreement with consultation with those parties as well as the new Zealand Electoral commission. You are sealing little bit of uncertainty when it comes to the kiwi dollar. The worst performing currency in the g10 space. Lets get back to our top story with china and the u. S. Postponing indefinitely these trade talks that were supposed to happen over the weekend. Our chief north asia correspondent joins us from hong kong. Is it down to bad timing with all these other tensions . How do you go forward and talk about agricultural trade when there all of these human rights, hong kong tensions on the table . Right. Even last week, the chief Economic Advisor to donald trump had said that trade of all the issues, trade was actually doing ok. It is all the other issues. We heard leading up to these scheduled talks planned talks that were due to be held by video on saturday, that china had been pushing behind the scenes to get the issues of tiktok and we chat, get those banned onto the official agenda for those talks on saturday. It looks as though all the other issues i am just reading the tea leaves here it looks like the other issues were too great to overcome their differences in just a videoconference. They were originally scheduled to have the talk over the weekend to review the six month mark after the phase one trade deal signing. As even donald trump said last tuesday, a lot has transpired over the last eight months in how the white house views china. As those other issues have bubbled up, whether it is the doesn tiktok, whether taiwan are some Sticking Points. One of the newer Sticking Point is over tiktok. We got another order from the trump administration. Bytedance,p ordering the parent of tiktok, to sell its u. S. Assets within 90 days. This is the second order. This came down on friday. He cited National Security grounds. The treasury secretary saying there was an exhaustive review of the case and it was recommended to protect u. S. Users from exploitation of their personal data. This was in addition to the other order that came from donald trump on august 6 that was a little more vague. It was a 45 day period. We still need to dig deeper into how these two different orders will walk lockstep with each other or not. It is another Sticking Point between china and the United States and could involve donald trump involve as donald trump alluded to, other companies. Shery we have taiwan as well. We are expecting the sale of the f16 fighter jets, but it is officially happening. That is right. We heard about the original deal in august. China was not pleased with that. 62 billion is the price tag. Generation of the f16 fighting falcons. They will be sold to taiwan. From lockheed martin. This is the first time the f16s have been sold to taiwan from the United States since 1992. Back in august when the deal was announced, ministry of Foreign Affairs in beijing said u. S. Arms sales to taiwan violates the one china principle. We will see how china responds to the latest formalization of the 66 f16s to taiwan. They will not be happy. I will guarantee you that. Shery Stephen Engle the latest on u. S. China tensions. We will have more on the decision to delay the election and the efforts to contain the outbreak. Chief Market Strategist brett ewing joins us to discuss the Market Outlook and why he is calling for new highs before the u. S. Election. This is bloomberg. This is bloomberg. Karina you are watching daybreak australia. China seems to be proving there is some truth to the adage, first in, first out. Pushingcturing rebound the economy out of a First Quarter slump. A Bloomberg Survey sees growth of 2 despite the falling Global Demand and the trade war with the u. S. July data on industrial output shows the expansion of nearly 5 . U. K. Is being warned nearly trillion jobs could be under threat if the government ends the virus support program too early. Millions of workers will supply will rely on cash help in october. Saw its biggest fall in employment since 2009 in the Second Quarter with many more jobs expected to go. 1. 5 trillionnd to boost its economy. Prime minister modi used his Independence Day speech to salute the governments performance in containing the outbreak and to say india will be selfreliant as a supply chain hub. Confirmed2. 5 million infections. Global news, 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. Im karina mitchell. This is bloomberg. U. S. Stocks linger at nearly alltime highs last week. Our next guest says the best is yet to come. Joining us to tell us why he sees new highs at of the election is brett ewing. Always great having you with us. We would have thought given how fast the rally happened, perhaps we are overextended. Given the november election seems like a big political risk, why do you think there are still more highs to go . Brett thank you for having. For having me. We made the call on may 8 the stock market would make an alltime high prior to the new election and potentially hit 3500. We believe the market is going to continue to melt up. I think last week was a great example. We had a deal with congress completely break down. They go on break. The market still is moving forward. We do not think it is going to stop. We do think he eventually, a deal will get done with congress, but right now, we feel this market is going to continue to move higher. Shery is any type of record a good record given that the breadth of the new high does not seem to be as healthy. This gtv chart showing how Growth Stocks continue to gain in this rotation battle and value has been is this a trend we will continue to see . Think you bring up a very good point. Theproduction is based on second part of this rally. We do need the breadth of the market to improve. In the last couple of weeks, we have seen the russell 2000 kick in and actually break above its june heights. We think the rotation is going to move into the cyclical, industrial and material stocks. Vix. E also looking at the the vix is continuously going down as well. Think that makes you this time, it is for real, that we actually get the cyclical rotation . It has had a number of false starts. We continue to see growth in tech being driven higher. Think what we are doing as an Investment Firm as we are looking out six to 12 months. We believe the trend that is in place in the United States where cases are slowly starting to trend down is going to continue. The next case is trending down as hospitalization rates, which is already occurring. Following that, we should have deaths continuing to trend down. We do not believe they are going to go away. We do not believe cases are going to go away, but we do believe the economy is going to continue to reopen as we move to the end of this year. If you can buy into that story, you need to be ahead of money flowing into the the value stocks and the cyclical stocks. If you wait for a vaccine to come out, youre going to be missing the biggest opportunity right now with the difference between valuations on the value is growth. Value versus growth. Haidi we see the u. S. Dollar kicking off the week pretty tight range. Where do you see further weakness and recovery in terms of the greenback . Brett i think it is too soon to make a strong call, but i will tell you the move over the last 60 days in the dollar is the largest down move we have had in 10 years. Pretty impressive stuff. We think we are looking at models where if we had a consisted move in a consistent move in the dollar like we had in the 1970s and early 2000s, we would say areas we would be focused on our emerging markets. Another tailwind to the value trade is the dollar moving weaker. It would only help that magnitude. During the previous two periods i mentioned, value stocks vastly outperform Growth Stocks. Haidi brett ewing joining us. We appreciate your time. Coming up next, democrats considering an early return from recess. They hearings on the u. S. Postal service cutbacks. How that could affect the november election. This is bloomberg. Haidi the house of representatives may return from recess early on the hearings about the crisis of the u. S. Postal service where funding crises are affecting the election. How serious are these issues with the Postal Service . What are democrats hoping to do about it . It definitely seems like this is a serious issue. On friday, we saw some documents from the u. S. Postal service. 46 out of 50e states that they may not be able to handle mail in ballots to the satisfaction of everybody and that is a serious issue the election. Peoplese election, mail is being delayed and peoples medication being delayed. A bipartisan issue even though the election element may be is more democratic. The democratics the democrats can only do so much. Nancy pelosi call her troops back a week or two early to have hearings. We do not know if the postmaster general would actually show up to the hearing. Just twoconsternation and half months before the election about, will the ballots get counted . Shery it is the eve of the Democratic National convention. It looks like joe biden is going into it with some momentum. What are we expecting . Ros very interesting. A lot polls have shown him up Something Like seven to 10 points. We know National Polls are somewhat meaningless. You have to look at each battleground state specifically. He is also leading there. We did see a poll from nbc that showed of all things that trump is ahead on, he is ahead on his handling of the economy. As we know from back in the clinton years, it is the economy, stupid. On manyan support biden different fronts, but the but if they feel like Republican Trump is better on the economy, they mow vote they may vote with their pocketbook. It looks like selecting, larrys selecting Kamala Harris has given the biden ticket a lift. A very unusual convention. There is no and person activity, so you will have Many Democrats speaking on zoom sessions. It remains to be seen at that will generate more momentum for biden. In general, there is often a bounce coming out of the convention. We will look for that. Shery washington editor ros krasny. One longtime investor is warning that when it comes to the relentless rally in the stock ifket, while it could end joe biden wins the white house. While still a fan of the democrats, Mike Noah Gratz told us he thinks the biden harris ticket would not be great for the market. The democrats are going to be tougher on wall street in terms of the tax plan. Youre going to raise corporate taxes. Youre going to raise income taxes. Most important he for the stock market, the Capital Gains tax. Harris, asden and much as it is going to be great for the country, it is not going to be great for the market. It is super interesting because also, the Vice President ial pick does not do much i weigh a financial policy. People are going to be much by way of financial policy. What are your expectations are the types of moves they would make to regulate the industry in a different way . The biden camp and all the people ive spoken to are quite centrist. To be fair, they are more conservative than the trump camp. These guys are fiscal conservatives in that they know you cannot keep spending forever without having some offset. I think you are going to see t his on the wlthy to fund some programs. The countrys skew on distribution of income has gotten as wide as it has been ever. You have guys like jeff bezos worth 180 billion and the average american not doing well. I think most people in america think it is time for change. Problem with many tax regimes, no one feels like they have been fair and transparent. That will be the big cat the big test. Do not miss our coverage of the u. S. Democratic convention this week. Bloomberg tv and radio will be simulcasting a special at 10 00 a. M. Newsday in hong kong. Coming up next, new zealand postponing the general election by four weeks after the first Coronavirus Infection in months. We have the details ahead. This is bloomberg. Businesses are starting to bounce back. But what if you could do better than that . Like adapt. Discover. Deliver. In new ways. To new customers. What if you could come back stronger . Faster. Better. At comcast business, we want to help you not just bounce back. But bounce forward. Thats why were helping you stay ahead and adapt with a network you can count on, 24 7 support and Flexible Solutions that work wherever you are. Call or go online today. Shery breaking news in the u. S. We have confirmation from nancy pelosi that the house will return this week to act on the Postal Service issue. They were thinking of perhaps returning from recess early for hearings on the crisis of the u. S. Postal service. Democrats are bracing for the senate to do likewise. There have been warnings the usps will not be able to deliver ballots on time for the november election at a time when President Trump has said repeatedly, without evidence, that voting by mail is subject to widespread fraud, also at a time when funding is at a stalemate given the next round of stimulus package is still in the works. Lets get to the first word news with karina mitchell. Karina we start with an update on the coronavirus with infections climbing toward 22 million and more than 770,000 fatalities. The u. S. Continues to be the epicenter with almost 48,000 new cases and an extra thousand plus deaths for a fifth consecutive day. Intensive care hospitalizations in california hit their highest in seven weeks. China and russia may move together on a vaccine. South korea is warning of a new mass Coronavirus Infection after reporting its highest number of new cases since early march. Most of the latest cases are linked to a church. Tokyo confirmed 260 new cases, down from 385 on saturday, with young adults in their 20s forming the largest group. Almost 18,000 people are infected in the capital with at least 25 described as serious. Germany may extend virus subsidies the 24 months, saying it would only cost an extra 12 million. The government introduced shortterm payments to support unemployment. The finance minister says the new proposal would double that timeframe with the number of shortterm workers in germany significantly higher than 10 years ago. President trump may be set for a dramatic uturn, saying he is considering a pardon for whistleblower edward snowden. The president has repeatedly called him a traitor and a spy who should be executed, but told reporters he is looking at a pardon. Snowden critics accuse him of treason for revealing classified information about the u. S. Government seizure of personal data. Global news 24 hours a day, on air and quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. Im karina mitchell. This is bloomberg. Shery lets turn to new zealand. The Prime Minister has postponed the nations general election by four weeks, to october 17, amid fresh covert outbreaks in auckland. Ed johnson is standing by for us in sydney. As the Prime Minister was going into this election in a winning position, will this delay impact that . Ed it remains to be seen. He wasthe main reasons in such a strong position was his strong handling of the virus the first time around. New zealand was in the vanguard of nations that had fantastic success. They eliminated community transmission. Partyas seen her labour seeking a second term in office rise to about 53 support in opinion polls compared to the main Opposition National party, only 32 . It depends on how she handles this second outbreak, which was announced last week in auckland, the largest city. There were a handful of cases, mostly concentrated in one family, and active cases have now grown to 69. The public will be watching closely to see how she handles this. Haidi we have seen the announcement to extend the lockdown in auckland. What is the impact expected on the economy . Ed again it is early days. Certainly having a stayathome order in auckland, the largest city of 5 million people, roughly a third of the nations population, will dent in sumer confidence and be disruptive dent Consumer Confidence and be disruptive. It was initially three days and has been extended to august 26. The level 3 lockdown is basically a stayathome order unless you have to be out. It also means consumer facing businesses like cafes, restaurants, bars are shut. The rest of the nation is under a level to order, which means social distancing is being brought back. Zealandustralia and new managing editor johnson. Next, we speak to a Portfolio Manager whose fund is beating 96 of its peers this year. Daniel chersky joins us to talk about his strategy, the opportunities he sees in australias small and midcaps. This is bloomberg. Shery lets take a look at markets across asia. ,iwi stocks gaining grounds. 6 , the most in a week. We had the Prime Minister delaying the general election to october 17. We had a resurgence of Coronavirus Infection. The same thing happening in korea, the highest number of infections since march. We have seen the kospi snap the nineday rally. Kospi futures under pressure. Same for australia. Asx 200 was der pressure in the last session, futures falling as we have the lockdown extended till mid september. Take a look at japanese futures, under pressure as well. But this coming off the back of a rally for japanese stocks, the nikkei closing at the highest level in february, and the topix also one of the bestperforming stocks around the world, given that we have tech stocks in japan rallying, following the global trend. Of course, finding returns in the mobile environment is becoming an increasing challenge, but one hedge fund focusing on aussie small and midcap stocks is an outperform or. This year, beating 96 of its peers. Daniel chersky is the profile manager and joins us. Embarkedhis year as we on this pandemic roller coaster, you made the decision to take a defensive decision defensive position based on how you thought the slowness of the recovery would play out. I am wondering how your views have changed. And what you see happening in the next six months, given there is so much uncertainty as to how the rest of the story goes, whether we get a vaccine, how lockdowns will be lifted. Daniel in february we saw the risk at berman very elevated risk environment very elevated. Downside, seeing the conditions much more in line with normal levels. The risk reward in markets much more balanced. The next months will have a challenging background fundamentally, but we think with Firm Supports from government risks of aakers, the downturn are much reduced. Particularhe u. S. In , you see out performers tech stocks. We have not seen the breath of the rally play out. What opportunities do you see in australia, particularly looking at Company Fundamentals . What stands out to you . We see the market out performers like tech, underperformers like hospitality, but there are companies in between that have ased well to covid and we see Economic Conditions normalize. We are looking at those companies in the value space and even yield space. Shery give us some examples of your long and short strategies. Daniel we are on a very flexible or long short strategy. On the long side, we have a concentrated portfolio. We can take advantage of rtterm versatility volatility. On the short side we have been looking at some services. Shery you also have a focus when it comes to real estate. How important is it in a zero rate world to have those steady income streams . Daniel great question. We see the specialty rates in the Australian Market are fundamentally mispriced. We are finding interesting opportunities to get a 6 to 7 yield with 2 to 3 growth. We think that is mispriced in a zero rate world. Haidi watch jumped out at you so far in this what has jumped out at you so far in this earnings season . Daniel the very down stocks that have had their share price appreciated significantly as the markets have low expectations of those companies. And you have some high flyers that outperformed significantly and delivered very strong results, but the outlook statements were not enough to support the outperformance. Thats been an interesting dynamic. Haidi what do you see in terms of permanent changes on the other side, the consumer changes, changes in the labor market, broader economic shoots that have been accelerated but will be permanent things we are looking at . Daniel great question. I think you will see the restructuring some Companies Might have planned over the next five years accelerated over the next 12 months. That will create structural unemployment above the cyclical pressures that we have. It will be up the government to fill that hole with jobs and infrastructure and things like that, but ultimately will make companies more efficient. Corporate margins will rise and we will be using technology and shery baines resurrection of Virgin Australia is facing legal opposition as creditors from Deutsche Bank rally behind their own rescue plan. The federal court will hear the bondholders bid to derail the takeover. Our Global Business editor is on the line in sydney. What are you watching out for . Said the federal court in sydney will hear the challenge from bondholders. It is a key moment in the fate of Virgin Australia. Virgin australia was in an agreed sale struck in june to bank cap in a to keep the airline two bain capital to keep the airline running in australia. Bondholders who are owed some 2 billion australian dollars are challenging disagreed deal challenging this agreed deal in the works. They want to take it over themselves, swap their debt for equity, get more funds into the airline, and have the airline stay listed in australia. This runs against the deal bain capital struck with Virgin Australias administrators, deloitte. It will be an interesting outcome. The federal Court Hearing on monday. Whats the timeline looking like to get more certainty on what happens . Angus good question. The creditors are due to vote on 4,ns deal on september the crunch meeting where creditors will say yes or no. If the bondholders are seeking to get their proposal on that ballot, deloitte is opposing that. They want creditors just to vote on the bain deal. Complicates matters. If the bondholders reject the bain deal and instead vote for the bondholders proposal, that complicates matters. Not entirely clear what happens at that point, whether deloitte forces through the agreed sale to bain or whether things are delayed and we enter into some kind of negotiated settlement. Although the bondholders have said they want to put their deal to creditors at the meeting, they have also left room for ,egotiation with bain capital so they would be open to negotiating with bain if they can get a better return. Thats what it comes down to, getting as much money as they can out of this airline. Shery we are just getting the latest virus numbers out of victoria. The Health Department reporting 25 covid debts in 24 hours. I believe that is a new record. Also 282 new cases over the past 24 hours. This of course as we do continue to cautiously have optimism we are seeing the downtrend when it comes to new virus cases in victoria as the lockdown continues, having been extended until september 13, essentially saying we cannot afford to be complacent even as numbers are trending lower. I know you have been looking into the issue of whether some permanent level of behavioral change will be required to keep these virus cases at bay before we get a vaccine. What are the implications for any meaningful return to air travel, even as we see the virgin case being fought in the courts . Angus its a good question. I think what it tells us is things are changing all the time. What assumptions people had in june when bain bought virgin are no longer in place or valid. We are seeing that around the world, arent we . We are seeing the u. K. Adding more countries to their quarantine last at the weekend quarantine list at the weekend, and we are seeing lockdowns in new zealand. We are seeing the proposed travel corridor between australia and new zealand being put on ice. There is no sign of that being feasible soon. It is very hard to plan even shortterm running an airline, because your most profitable routes in australia, melbournesydney, that is gone at the moment. And International Routes in australia and new zealand are also off the charts, so very hard to buy an airline because there are so many creditors involved. Even harder to run an airline in this environment. Shery Global Business editor angus whitley, thank you. Online and Goldman Sachs growth is expecting 50 to 80 growth for the next three years as it plans a rapid expansion across china. The delivery start up raised close to . 5 billion in the latest funding round. Bloomberg about how they plan to position themselves in a highly competitive market. We think the competition has already went through the second stage. Way we are differentiated with others is by differentiation of the supply chain. Technology. Want our central bank to be capable. Adding efficiency and good economics. This is the thing we are investing the most. The second thing is the upper swing of the supply chain. Quality control of the goose, direct purchase of the goose, and even the label business. The supply chain plus technology of retail makes missfresh different than others on the supply side. Thats where we think is the core competitiveness. How did the Coronavirus Impact your business . It did cultivate the behavior of existing Online Shopping customers. We use deploy extensive couponing to customers to generate traffic but now we dont have to. Per customer ratio has already hit a peak, without subsidy. I think that is the biggest change of behavior. Now we have seen more people older, born after the 1960s and 1970s, choosing Online Shopping as one of the major solutions. Hascore customer landscape been shifting to elder generation, the biggest population of cooking, aged whond 30 to 50 years old does have a very disciplined lifestyle and High Frequency of cooking. This enabled us to acquire more customers at a cheaper price at a higher value per customer. That means better economics and faster expansion. How much pressure do you think chinas consumer is under right now . We didnt see much fluctuation. At the early stage of covid, we saw a surge in the amount per customer shopping. It is early stage panic of storage of food. After that, their supply soon recovered and now everyone is living at a normal lifestyle. This is an incredibly competitive space. How do you compete . What is the number one thing you have to focus on to ensure they dont just squeeze you out of this business . Supply chain capability. We cut the supply chain capability to two parts, the merchandising capability. Inventories and we are the only player that has the opportunity to turn over the inventories in half a day. We dont see others have this capability. We have over 70 of the goods directly purchased from producers, which takes years of accumulation. We dont see any other player who has been doing this. The other part is the retail units management. It is like a thousand houses across the nation. It is hard to manage. We use technology to do this. Your focus now is on first and second tier cities in china. Where does that take you within the fiveyear horizon . Do you look at International Expansion . The priority is the domestic market. It is a huge market and we are at the very beginning. Whats the timeframe for going public . We dont yet have that plant. The priority is still Core Companies against the competition. Missfresh cfo speaking to Tom Mackenzie in beijing. Lets get a check of the business flash headlines. Reports from japan say the government tried and failed to push a merger with talks ending without agreement. They say the deal was first promoted toward the end of 2019. A merger of two of japans leading Car Companies was rejected before the plan could be put to directors. Nissan, honda, and the Prime Ministers office declined to comment. Round tong its funding 2 billion with fidelity among the biggest were dispensed. The company had been in talks to raise about 1 billion at a price of 270 a share, which would have valued spacex at 44 billion. The latest funding would be spacexs largest so far and comes after its Successful International space station mission. A singapore state investor is the fifthlargest shareholder in blackrock after adding nearly a 4 worth a 4 stake. They bought blackrock shares when pnc sold a stake earlier this year. The companies have worked together in the past with talks underway for a joint venture in china. Shery in the next hour, we break down a busy week ahead with Oxford Economics seann fenner, including key data out of singapore and thailand. A bank of america represented joins us. Plenty more ahead on daybreak asia. This is bloomberg. Hike Simon Pagenaud takes the lead at the indy 500 coming to the green flag, racing at daytona. Theyre off. In the kentucky derby. Rory mcllroy is a two time champion at east lake. He scores stanley cup champions touchdown only mahomes. The big events are back and xfinity is your home for the return of live sports. Haidi good morning. We are counting down to asias major market opens. Shery welcome to daybreak asia. Our top stories, trade talks on hold. The u. S. And china postpone a review of phase one and have no timeline for a meeting. President trump warns he is looking at other companies, including alibaba. Coronavirus