Includes a long serving cabinet secretary. Critics say that abe failed to deliver on promises. And one of chinas is conglomerates says it is optimistic about recovery. We hear exclusively from them later this hour. Arey lets look how we shaping up in the asian sect session. A muted outlook when it comes to asia. Sophie that is to be expected this morning. Malaysia and the philippines offline, those markets closed. S p addingfutures, 1 10 of 1 . A muted start for asian stocks. Havee earnings sprint, we withnames reporting along Cooper Energy and australia. Lets focus on new zealand. Efforts being made for trading to resume as normal on monday. We saw them close to record high on friday. Operators saying it is working with Security Partners to implement additional measures. Arrangements are in place to allow trading if the website goes down. Japanese politics front and center with several names in the running to replace shinzo abe. Japanese stock volatility picked upfriday, the yen firming this morning. Markets assessing the likelihood of policy continuity. Yields, a bigger driver for japanese bonds with no changes expected from the boj. The rba expected to stand pat, yet the aussie dollar ahead of that. Gdplso have secondquarter from australia expected to confirm a recession. This morning, we are going to get chinese pmi. Stable recovery is the consensus. Offshore your one holding just youan holding. It is the longest winning strength streak in nine months. Even with liquidity weighing on bonds. Hightrading at a january while they dollars at a twoyear low. Why the dollar is flashing over u. S. China tensions continue to simmer. Shery the sale of tiktoks u. S. Operations have hit a major snag. Overseasas added the transfer of Artificial Intelligence to a list of products it considers vital for security, meaning any sale will need the approval of the Chinese Government. Lets get the latest from ross ey. Sby ros crasn it seems like a Dramatic Development in a process that has been mostly driven by the u. S. And what President Trump wants to happen so far. Ultimately, it is surprising beijing would want to have some say in the face of this multibilliondollar company. There is kind of a feeding frenzy for tiktok at the moment. This could be an attempt to go more slowly on it. From what we could tell, the talks are starting to be but they will continue to go ahead at some level and participants and the talks are just as surprised and curious to know what comes next. From what we can tell, china is keeping a close watch on whatever happens. They dont want to leave it just up to the Trump Administration. Was this specifically aimed at the Trump Administration . It seems like it could push the deadline for a deal past the november elections. Ros exactly. How many times have we talked in the past weeks and months about , and threatsnsions the Trump Administration has made against china on any number of fronts . I suspect this is part of chinas pushback and wanting to be more in control. What the Chinese Government seems to be less overt than what the Trump Administration comes out with, but it does seem like they want to have a say in this. When you think about the potential buyers of tiktoks u. S. Operation, massive u. S. Household names like microsoft and walmart and oracle. There is an interesting dynamic here between the worlds two biggest economies. We dont really know exactly what is happening and i suspect the principles are feeling the heat as well. Supposedly this weekend, bytedance will be entering into talks with at least one of the suitors. Whether anything was done on that, we have yet to find out. Andy given the tech battle trade tensions, also the south china sea, up until election time in about two months, is there any opportunity here between the two for a Circuit Breaker . Is ii think one thing dont think most people in the Trump Administration, including the president , wanted to do anything that rocks the boat for the stock market. A couple of years ago when the trade war ramped up, u. S. Stocks fell precipitously. I dont think that is something President Trump wants to see just before the election. That could be the Circuit Breaker. I think many times you will hear trump and many of his deck buddies deputies talk tougher, but they wanted r back the tension. Theaybe look for that in next couple of months. Ros in washington with the latest. You can get more in todays issue of daybreak. Is bloomberg subscribers, it on the terminal, and also on our mobile app. Lets get a check of the first word headlines with karina mitchell. Karina global Coronavirus Infections have risen about 25 million with several regions reporting a surge in new cases. The u. K. With the most since early june and california rose the most in a week, while russian recorded almost 5000 new cases, more than 10 in moscow. The virus lockdown in the australian state of victoria has seen Consumer Spending slump and job losses rise. Indian has india has the highest number yet of daily virus infections. Health minister reported within 78,000 cases, topping the previous record holder, america. Indias total virus infections is above 3. 5 million with fatalities above 63,000 youd india is third in the world in terms of infections behind the urth ind brazil and fo deaths. Hanoi hosted virtual discussion among asean economy ministers things to take effect. Talks focused on measures that can undermine global trade. President trumps demanding tough action against demonstrators in portland, oregon after violent clashes between black lives matter protesters and his own supporters. And theon was killed president retreated opposed accused the Portland Marathon and blood in his on his hands. To president is expected visit kenosha, wisconsin this week. Global news 24 hours a day on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. Im karina mitchell. This is bloomberg. Shery still ahead, the race to replace japanese Prime Ministers should the abe heating up we will discuss possible contenders, next. With the interview billionaire founder of one of chinas biggest conglomerates. He expel you ands he explains explain chen he explains expansion plans later. This is bloomberg. Think policy continuity is key from a market standpoint and a yen standpoint. The Monetary Policy that has yield control, on buying orchestrated by the bank of japan, and governor kuroda has a couple more years left. [indiscernible] because theres not much room that japan can deviate from mainstream reforms strategy. I dont blame him for not inflation. [indiscernible] whoever takes over for Prime Minister abe is likely to maintain that crucial thetionship between government and the central bank. Haidi some reaction there to the resignation of shinzo abe, and we are hearing from a japanese news outlet confirming that both the chief cabinet secretary and the former foreign minister are both planning to run to replace him. Amid thearture comes pandemic, japans first recession since 2015 pure 2015. Our guest joins us from tokyo. Wonderful to have you. You saw the negative reaction and markets on friday. The concern is policy continuity. His continuity a good thing . Is continuity a good thing . Rly critical. Jeff if you look at the cslitical obituaries, abenomi has been a flop. Inequality has increased, household wages have gone down. Much of anasnt had impact as you would expect for somebody empowers seven years and eight months with a super majority in both houses. Got the holy grail of constitutional revision and realized that would not happen. The problem is over the years, he spent too much political capital, time and energy pursuing this quest, and took his eye off the ball of the economy. So he didnt do much at all in terms of Structural Reforms. That is the third arrow of abenomics, and i think that is the problem. Im wondering who you think is best placed to replace him. Favor theparty elders cabinet spokesperson. Abe is close to him. He would represent policy continuity. He is a familiar face, he knows where the bodies are buried, he is good at keeping the party in stem gaps in the cabinet. I think markets might welcome him. But he is somebody who is very dependent on support from other section leaders. This is a one year post, because basically whoever is chosen will be a caretaker serving out the rest of abes term. The real problem is too much policy continuity at a time when the pandemic countermeasures call for more unconventional responses, such as Something Like more job subsidies, temporary income guarantees, think like that that would boost consumption, because that has gone down and the economy is imploding because of that. With the gdpfice smaller than he then when he started. Shery but can you blame him, the pandemic hit the whole world. Yo the economics he pursued was a flop, this gtv chart on the bloomberg for our theers showing he provided inflationary boost at least when it came to sentiment, Business Sentiment dramatically improved under shinzo abe. Jeff there is no doubt that when he came to power, he helped japan regain its mojo. But really, the economy was already swooning before the pandemic hit, the commendation of factors, u. S. China trade war, two ill considered increases in the sales tax. The problem with abenomics is after the easing and fiscal stimulus, those were like sugar highs but not sustainable. They were supposed to buy time for Structural Reforms and he never really put his shoulder in on those. His Pandemic Response i think objectively speaking, japan has done better than most other is blamed byt abe the japanese public for being disengaged, for not being on top. Getsery single poll, he hammered by the public on his Pandemic Response and he was mocked for his distribution of abe masks and payments to households were delayed. Too many times he was missing in action, and on social media he was called out on this. You are right i think this is an external shock nobody could have anticipated, but the interesting thing is part of the reason he left power was the public soured on him, not just because of his Pandemic Response but a series of serious political scandals began piling up. I think that also was a big factor in his stepping aside. Shery just quickly, you talk about the pan regaining its mojo. What about when it comes to its nationalist mojo . Pursuinghinzo abe hardline policies we had not seen in the past, including revising the constitution. Jeff the problem is it is like one hand clapping. Japanese mayother andore ardent nationalists he has presided over a significant shift in the Political Center of gravity in japan, but that doesnt resonate with the broader public. Baseybe his core support is 20 20 5 . Generally speaking, when there are holes about it are your about what polls are your priorities, changing the constitution are single digits. Quickly called him out on it and abe has not visited since then. I think there are limits and people praise him for trying to go a little further on the Security Policy and trying to stronger against the u. S. Shery we have to leave it there, jeff, we are running out of time. Have more perspective on japans Political Landscape ahead. We will hear from j. P. Morgan, Fitch Ratings and finance minister known as mr. Yen. Coming up, one of chinas biggest conglomerates say beijing and washington will find a way to repair relations. More from our exclusive interview. This is bloomberg. The billionaire founder of one of chinas biggest conglomerate is optimistic about the countrys economy, amid escalating tensions with the u. S. They are eyeing opportunities in brazil and africa. He spoke with Tom Mackenzie in shanghai. All, we cover a wide range of business but concentrate on family consumption, health, happiness and wealth, so our business is very focused. In recent years weve been more focused. Secondly, i am confident in chinas economy. China has a large middle class, so there is huge domestic demand. Chainchinas industrial is very strong and global competition. For the future, our Chinese Business will still be there priority and most important. We since there is huge growth potential. Tom we are seeing tensions between beijing and washington rising and there is trade tension between beijing and australia, canada, and also india. How much of a headwind are those tensions for business like yours . I dont believe some extreme voices during the Election Campaign can represent the future of the u. S. China relationship. I believe they will find a solution in future. Secondly, we comply with local laws. We are friendly to local communities, so all of our investment and Business Development are welcomed. In terms of investment, we will focus more on strengthening our industry in the future instead of expansion. We will concentrate on strengthening our existing businesses and regions we are already in. Capitalve got debt to ratio of about 56 , which has increased a little bit. Its not dangerously high levels. Are you comfortable with those levels at that ratio and are you looking to raise additional loans . Y issuance or prudentll maintain a financial policy so we are comfortable with the existing debt ratio. We wont aggressively change our Financial Strategy but of course we wont be too conservative. Over the past few years, we try to get a balance between investment and debt, which means we have investments but also exits. In terms of multichannel financing, we have both bonds and stocks. In terms of regions in currencies, we have financing in the chinese yuan and financing in u. S. Dollars overseas, and that gives us a safer sources of funds paired one of the most funds. One of the most important strategies is adequate cash flow. Worldhich parts of the look most enticing to you right now as Investment Opportunity . We have taken a position in brazil and we are optimistic about its future development. Southeast asia is a place where we dont have strong investment but we will strengthen there. Apart from that, our treatment for malaria has made a great contribution in africa and is called almighty medicine there. Africa has been facing huge challenge in particular from the coronavirus pandemic. We hope we can do more for africa. , where doars from now you expect, where do you hope to be 10 years from now . We have a plan to grow 10 times in 10 years. We hope over the next decade, our overall business will see big growth in the customers we are serving. More important, we will also bring better product and better services. Shery that was an exclusive interview with Tom Mackenzie in shanghai. You can catch more of that interview in our upcoming special on september 12. Lets get you a check of the latest business flash headlines. Chinas biggest bank suffering the biggest con in rocket in more than a decade as a wave of loans goes sour. Lenders are said to put cheap funding ahead of profit. Company losing a top executive, leaving after less than 18 months in the job. The latest in a string of highlevel departures. Confirms the departure. Citi acquired the Company Seven years ago. Ever halfyear loss amid chinas fragile recovery. Asias biggest refiner reported a shortfall of just over 3 billion for june compared to the profits of 4. 7 billion a year ago. Plenty more to come here on daybreak australia. 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. Karina i have the first word headlines. The sale of tiktoks u. S. Operations may stumble. Bytedance is said to need beijings ok on the export of technology. We are told government permits will be needed. Microsoft, walmart and oracle are known to still be interested. Another company is also in the game. Meanwhile, the race to succeed shinzo abe includes a former defense minister, longtime cabinet member, and former foreign minister. Seen byign minister is insiders is best suited to lead until elections next year. The new leader is expected to be chosen and parliament september 7. The future of arguably the best Soccer Player in the world remains uncertain, after he failed to report for precision preseason health checks. He is apparently determined to leave the club where he spent two thirds of his life. He says he can leave for free. Global news 24 hours a day on air and on bloombergs quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. I am karina mitchell. This is bloomberg. Federal reserve officials on they are in no hurry Interest Rates following a shift to be more tolerance of inflation. Thert kaplan told Us Central Bank is not rushing to set a specific target for expansion. Its possible it could take a while to get to 2 . Technology enabled disruption in particular are limiting the Pricing Power of businesses and inflation has been muted for close to 10 years. Articulationpolicy theeally a reaffirmation of situation weve been operating in in our decision function the last few years. Its not a radical shift, it an affirmation weve been in a more muted inflation period. We need to be alert that could change but i dont view this policy articulation as a radical change. It is a reaffirmation of the way weve been operating. Thate new policy is appropriate Monetary Policy will likely aim to achieve inflation moderately above 2 for some time. How do you define moderately above and how do you define some time . Mr. Kaplan weve left it deliberately undefined. For me, price stability is still our dual mandate. Indicator oft that. If we, what it means is are getting in a situation that i hope we do in the next fee years where we are running close to unemployment, to full employment, im willing to take more risk and my Monetary Policy judgments and inflation could run above 2 . For me, a little bit means a little bit. To. 25 ,id publicly maybe a little more than that. , maybe ahink 2. 25 little more than that. Trading on Inflation Inflation for on a plummet did not end well. Mr. Kaplan that is a danger. Its not that im going to lose a concern that we could have a spike in inflation and im not , and to lose a concern this framework articulates a concern about Financial Stability. I think those concerns have not gone away. It just says on the margin, this is my interpretation and the way i will be operating, on the margin im willing to take more risk and service of knitting underrepresented groups into the labor force, a little more risk on inflation. Im not going to be willing to take risks that will lose try stability like the 1960s and 1970s. I will be on guard against that. Thateres also a concern an overrepresented group, people on wall street, will be the beneficiaries. You might not be able to stimulate inflation but you can pump up the stock market. Mr. Kaplan thats also something to be cognizant of. In particular not just on the fed funds rate but our purchases of treasuries and mortgagebacked securities and programs weve implemented this year. I think its important we articulate that those programs will lapse. Need to bewe conscious of Financial Stability and excesses that could build as a result of our policies. I will view that as an important consideration as i make judgments going forward. If you were still at goldman sachs, do you think we see some bubbles forming now . Concerned i would be that when the fed takes the type of actions we needed to take excesses inou have risk assets. Not just prices, but im concerned about debt buildup. Shery Robert Kaplan speaking to mike mckee. We have several centralbank speakers coming up this week, as well as other guests. Was just powell talking about the fed wanting to see higher inflation supporting a risk rally. Kicking thingsn off on monday. What should investors be paying attention to. Attention to . One, inflation rates on u. S. Treasuries the fed is committed not just the 2 , but overshooting it for a meaningful period of time. The market is doubting that. If you look at the breakeven rate on a 10 year treasury bond, it suggests the fed might need to do more to achieve that target. Haidi given the macro environment, we continue to see the dollar trending downward. Shery this chart showing the dollar has been down now. The eighth week out of nine. When it comes to the dollar and real yields as well, what will define the longterm trajectory of the greenback . And on the other hand, how will that affect emergingmarket assets . I believe the dollar has begun a longerterm downtrend. Its moves so sure has so far have been sharp and fast. Tore might be some pause catch some air. But why is the longer term trend likely to be down for the greenback . One, it is starting out expensive. As of march, it was a very expensive currency compared to peers. Two, it is not the safe haven it used to be. Yes, it is still a quality asset, but it used to be a yield asset. Dollar has produced meaningfully positive yield. It is still positive but no longer as attractive. What does it mean for emergingmarket assets . A weak dollar has historically contributed in a number of ways. The most important, supporting a monetary crisis that supports commodity producers. Haidi and we continue to see the commodities rally still. That is a longf expectations for the greenback. You look at the pandemic handling in the political situation, what does that mean for the notion of american exceptionalism, especially as equity markets are still at record highs . Andy here is one way that america has maintained its exceptionalism and may be able to continue to maintain it. Unlike other equity markets, it is very cash heavy. Compare the u. S. Stock market to western europe and japan, even to emerging markets with the notable exception of china, tech represents larger way. Which in some ways makes the u. S. Stock market different from the u. S. Economy. That has allowed the stock market in the u. S. To achieve new highs while the economy is practically down and out. Haidi does the outcome in november change the global trend of deglobalization . Andy i dont think the outcome in november will change the trend. It might change the voices that contribute to the trend. I look most of all at the trend as something that is likely to accelerate regardless of who wins the white house this year. Is thison i see that particular crisis laid bare the importance of supply chains, the importance of doing business with 70 close to you. With somebody close to you. We noticed that as early as january and february when the first disruptions in china made it hard for industries halfway around the world to source supplies. It became even more clear as a some farce some pharmaceuticals were in short supply. I think the crisis has laid bare the risk in over focused on profit supply chain. Shery should investors invest mysticngly in more orientated companies that dont rely so heavily on Global Supply chains in more domestic Oriented Companies that dont rely so heavily on mobile supply chains . Andy those are primarily Industrial Companies and they may have their time in the sun when industry picks up and the rate of Economic Growth starts to improve, but the future belongs to technology. The future very largely belongs to improvement in productivity arehuman welfare, which more likely to be spurred by Technology Companies that dont have that much in the way of supply chain issues. The supply chain is their workers. Haidi always appreciate your views. Investorsnext, dumping shares in a text from after its latest earnings last week. We speak with the ceo, who is telling investors to stay patients. This is bloomberg. We saw Risk Appetite returning across asia. Here is a Sophie Kamaruddin in hong kong. Sophie we are seeing a risk on soon with s p gaining about one quarter of 1 . We are seeing a decline towards the nzx. Its losing ground despite hitting a record on friday. In japan, a post shinzo abe world is starting to begin. The 105 zone as investors continue consider whether policy continuity will be the name of the game. Some money manager seeing an opportunity to buy japanese stocks. Switching out the board with futures mix as we had to the last trading day of the month, asian stocks set for the best august since 2003, ready to cap a fifth month of gains with laggards with typical plane catch up, especially in industrials. Earnings have been a help, firms 60 of asi listed have been estimates. In australia, gdp data expected to confirm a recession and the rba seen holding at a time when a multispeed economy is emerging in australia as Eastern States grapple with virus outbreaks while the resource rich west is supported by commodity demand. Trade looking buoyant, helping the aussie dollar, up about 28 since march 19, when the rba cut rates. At 73ssie dollar trading this morning. Westpac climbing with a key driver coming from chinas recovery, seen lasting at least two years. Australia,ing in makingpecializes in human imitated data sets, are essential Building Blocks of Artificial Intelligence. Lets get more with the ceo, who joins us from sydney. Great to have you. Playersn to other tech and in this earnings season theyve said with the pandemic, it has driven broader structural secular rotations into tech. Technology as a new thing. Is that the acceleration youve also seen . Mark absolutely. Emerge post pandemic, they will accelerate their plans which will inevitably lead to investment in Artificial Intelligence. Also during the pandemic, the firms doing well are the ones that rely on a lot of Artificial Intelligence. In the u. S. , we saw 10 years of growth in three months at the outset of the pandemic and a lot of that is fueled by Artificial Intelligence, search and so on. The gains in your share price has been astronomical, 80 . Does the pullback suggest investors are concerned about Forward Guidance . The pullback we saw on friday i think was a direct result of the runup we saw prior to the results. From our perspective, we are on our plans for this year. The market took a little bit of heat out of those numbers, but from our perspective, we are on plan. Shery in the news right now, chinesetell bloomberg policy makers have imposed new restrictions on the export of Artificial Intelligence technology when it comes to those going to the u. S. And we continue to see tensions between the u. S. And china playing into tiktok as well. When it comes to your business, i know you have customers in china as well and you see the bifurcation of technology, the tech trade war happening on the sidelines. Does that affect your business in a meaningful way . Mark we have set up our operation in china to be separate from our business. Anticipation of some of the things that have occurred. We can continue to serve china from china. In addition, we are early into china at the moment and while it is important, i dont think we will be highly dependent on it. Up in aset things manner that insulates us in some ways but also dependence is not high. Shery are you concerned on australiachina tensions at all . To predict howd these things will play out. Canave set things up so we deal reasonably independently, but we keep our eye on the situation and we will react accordingly but its hard to predict how these things will play out. Haidi your customers include apple, google, microsoft. Is there any concern for you in terms of how you could potentially get dragged into the u. S. China trade story . Mark of course we have some concern, but we also like to serve our customers sort of in the background, if you will. We dont talk publicly about our customers. Or about who they are in the projects we do. But given the fact that we deal in both environments in the u. S. And china, we could get dragged into it. But we are trying to maintain things in china reasonably autonomously. Shery thank you for your insights. More on the tech sector in the next hour. We will discuss how the pandemic is providing an opportunity to reshape the Global Financial system in favor of sustainable development. Our guest joins us from new york. Dont forget if you are away from a screen, you can always find indepth analysis on bloomberg radio, broadcasting live from our studio in hong kong. App, oria the bloomberg. Com. Plenty more ahead. This is bloomberg. Heres a quick check of the business flash headlines. Bp reportedly will be selling a london headquarters as it cuts jobs. They have 6500 office staff in the u. K. And they have least the building for up to two years before leaving for good. Bp bought the building or 156 Million Dollars in 2001, and just 13 of london workers have returned to the office. American airlines overcapacity by 55 from a year earlier. Will ander has said it service to 15 u. S. Cities in the first week of october and more airlines could follow if the government doesnt offer additional help. The airline had agreed to keep service destinations in place through march as part of the u. S. Payroll package. United airlines is to drop is 200 fee to change domestic tickets immediately, scrapping along running source of traveler anger. Travelers will be able to fly standby for free if a seat is available on the same day as a planned trip. United will be the first u. S. Airline to cancel change fees to coax passengers back on board amid coronavirus restrictions. Biggest banks reported earnings over the weekend and it was not pretty. The results were definitely not good for the big four, taking the largest hit to Profit Growth and more than a decade. Lets talk to david ingles for more context. Those Loan Loss Provisions are pretty bad. David right, extremely. In a sense that they put together first and second quarter, so it was a firsthalf. The First Quarter was worse than the second, when the recovery took place, that obviously this looks backward but also ahead in the sense that obviously this in many ways handicaps future loan growth if they dont recapitalize. Just broadly, in terms of the top line on your screens, a 10 drop for the big four. At thel, if you look 1000 chinese commercial banks, we saw a drop of about 20 or so, roughly speaking. Loan loss provisions, you talked about that, and i think we have another graph showing how it is split among the big four. About 400 million renminbi. About 58 billion u. S. Dollars. No it takes nonperforming loans to 2. 7 trillion renminbi. Analysts are saying this will not ease before the end of the year. Will the recovery of the chinese economy help at all . David what moodys is saying is if you take the assumption that growth will be at 2 , which is currently where rows estimates are we will get a better indication when pmi comes out whether we need to rethink that to the upside that will still put profit pressure on chinese banks in the sense that they might need to provision a little more, and that puts a direct downward pressure on future profit. Worstcase 20 20 5 drop for the entire year. David ingles there with the latest on chinese bank earnings. In the next hour, from chinas gdp, ourto us trillion guest joins us to preview the week ahead. Plus, we speak with the yuan about how the covid19 pandemic is changing the digital economy. This as we continue to see a mixed picture in the markets right now. U. S. Futures gaining ground. We have them a quarter of a percent higher. Week with fresh eyes, dollar weakness at a more than twoyear low. We are seeing kiwi stocks unchanged at the moment. Sidney futures under a little pressure. We have the rba meeting this week. No change in policy expected. 1 ,ei futures up 7 10 of after we saw japanese stocks slumping on the flight to safety with the japanese yen strengthening as we saw confirmation that Prime Minister at a is exiting. Prime mr. Shinzo abe is exiting. This is bloomberg. Experience the ultimate sports hub. Where you can find games, news and highlights. All in one place, right on your tv. The xfinity sports zone. Use your voice to search every stat and score. Follow the teams you love. And, even get notifications with breaking news alerts and more. With the xfinity sports zone everybody wins. Now thats simple, easy, awesome. Say xfinity sports zone into your voice remote today. Down toe are counting asias major market open. Haidi welcome to daybreak asia. Our top stories. The tiktok clock is ticking. Disposable u. S. As that require beijings approval as china clamps down on ai sales. Aberace to succeed shinzo includes a defense ministe