The stock flood in asia, a curve when it comes to the selloff in tech, that was saw in the nasdaq 100. Even in futures trading, extending significant declines. We have seen tech names leading some of the losses across the world. We are seeing skittishness when it comes to currency trading and yen. It is past the key level of 150. We have concerns over where the rba goes, now that the inflation number, even as the rba governor says they will were not terribly surprised. We are seeing repricing when it comes to the expectations in the aussie dollar moves. David yeah. It looks like halloween. Or valentines day. These colors on your screens. Thailand is joining the fun. In fact, that specific market, we have just gone in one direction. We are effectively at 2. 5 year lows on the set index. We are 19,000, nifty futures opening up in a couple of hours. Thailand. The broad pay point pain point. We will talk more about that in a moment. Now just a pivot away and look at the trading session in europe, it will be a big day in europe. You have the ecb decision. We are one forth into the earnings season there. As it pertains to some of the futures you have stat charts coming out the earnings. Volvo. A couple of other names, nestle is coming out as well. Bnp is out. Just a snapshot across of some of the earnings coming through in europe. Something to watch. Futures are down as well indicating that yields are likely pushing higher. Ecb, no change expected, for the first time in over a yearandahalf. Heidi takes us back to the micro macro. Haidi lets get more analysis on what is going on today. Mark ran feel this with us and bringing in market wilson. Lets start off with you. We keep getting this level, it is pass this 150 level. What are we hearing in terms of the willingness for intervention . As the goalpost shifted has the goalpost shifted . What is happening here is the ministry of finance in japan who was responsible for siding intervention know that the bank of japan has a meeting at the beginning next week, a few days away. There must be some chance that the bank of japan will tweak policy in a way that helps support the yen. If the ministry of finance goes into the market now they are wasting their money, because the bank of japan may help them out in a few days time. You have heard various leaks that have come out. Officials are having a heated discussion on whether or not something needs to be done. The easiest thing for them to do is to dismantle yield curve control. That will be the least painful, they are spending a lot of money in the bond market. The bond market keeps absorbing whatever the bank of japan does. It is not being effective. We will probably see a general rise for yen yield, giving us a little bit of support. They still would not have yet come out of negative rate policy which is something they could hold for a bit further down the line, giving a bit of time for the ministry of finance to assess the situation. While that is happening the yen will probably get a bit of support. That is probably one scenario. If the bank of japan does not help out, then we can fully expect some it impressive intervention. At these levels we are close to where we were when we did the same thing. On a tradeweighted basis, the one is the cash yen is eager the yen is weaker. Unless someone in the japanese camp does something the yen will just continue to deteriorate. David briefly if we could just pivot to hong kong. I watching this 17,000 handle on the hang seng index, if we were having this conversation yesterday, at least yesterday, the glee that was embracing sentiment and markets right now, who would have thought we would be breaking 17,000. I just want to hear thoughts of were levels hold today . If you look around the region, the global embassies moving, it is making it difficult for hong kong. Not just if you have the nasdaq and s p futures, you even have the european futures falling. We dont normally see big moves. You can tell sentiment globally is very much against it. There is very little incentive for anyone to put new money. That overwhelming pressure is probably going to feed into hong kong, despite the fact that we had a bunch of measures announced yesterday by hong kongs chief executive. When you get such a title way from around the world, it is hard to resist, in addition to which, if you look at the general momentum pattern for hong kong stocks over the past couple of months, it is negative. The have that bounce yesterday and to come all the way back down, really from a price point of view, it tells you one thing, this is too early to be bullish on this market. Haidi is it too early to know what the ecb is going to do . Kristin lagarde is still saying theyre not done yet. They are expected to pause. Expect caution. The caution received is more of a warning. I think, as it is now, the end of the scale, any sort of up the upbeat, glass halffull, anything like that, any reaction to the euro. That will weigh on euroyen. In fact i would probably prefer a euroyen short to a dollar. With a euroyen dollar you have to be wrong on two occasions. Youve got the dollar, the u. S. Dollar gdp. If that prints hot, the Dollar Strength we see in asia will double, in the u. S. And the euro will get back. On lagardes words, even if they are positive, will probably get swallowed up in the dollar sentiment. I dont hold much for the euro as it is right now. The dollar still driving everything. Anything domestically like what we saw with the aussie, we will get a bit of a bump up to 64. As the dollar picture pointed out in u. S. Markets. Haidi some interesting moves when it comes to what we see with the aussie price the hotter inflation rate was not that exciting. Lucy ellis would know, saying it does not change anything, she thinks that hike is still coming. I think, lucy made a call for it on november 7 hike. That service is inflation. The cpi, it got more than three quarters of the components, they are above 3 in terms of inflation. I think, when you look at that sort of thing, its easy to make the argument. November is a done deal. You start pricing in december. Its probably getting ahead of ourselves. Haidi happy new year. It is christmas. But, you know it seems like we are going to end up playing the same playbook, all that time ago about putting the country in recession to tame inflation. I think that is resonating now. As long as the global rate watermark is lifting i think australia will get caught up in that. It is interesting, though the dynamic with aussie and the rates when rates come off like they did. When he spoke this morning, the aussie got tapped and rightly so. Rights have recovered as treasury yields have recovered in asia. And the aussie has been sold off anyway. So, not a case, so much of selling the aussie for the wrong reason. But even hit the dollar for anything that will be david good stuff. Mike wilson, our fx and rates reporter. Also in singapore for us, mark ran field. Some breaking news. This concerns china evergrande, it seems china is expanding its investigation to be on the company itself, to include some of the major creditors and Financial Firms which, based on the people familiar with them are saying helped facilitate some of the risktaking, taking place. It does seem that this might include the left basis reporting here, the bank of china. It has been mentioned in this specific story. We will get more to this once we get more information out of the story, out of the wall street journal. Haidi watching that very closely. Still ahead, we will be talking about the adani group. Sources telling us that one of the groups has been scrutinized by one of indias accounting regulator. We get the latest. This is bloomberg. Get help reaching your goals with j. P. Morgan wealth plan, a digital money coach in the chase mobile® app. Use it to set and track your goals, big and small. And see how changes you make today. Could help put them within reach. From your first big move to retiring poolside and the other goals along the way. Wealth plan can help get you there. J. P. Morgan wealth management. Sales tax automatically. Avalarahhhhhh what if tax rates change . Ahhhhhh filing sales tax returns . Ahhhhhh business license guidance . Ahhhhhh crossborder sales . Ahhhhhh item classification . Ahhhhhh does it connect with acc. . Ahhhhhh ahhhhhh ahhhhhh david ok, were going to take you straight now to northwest china. We have the rocket is set to launch. If the timing is correct, within the next 30 seconds. We are talking about three astronauts into the space station. We will be giving you life pictures. They should be launching any moment now. Were approaching the 10 second countdown. The astronauts there. Lets listen in. We just saw some there. 20 seconds. Professor liu is getting nervous. 6, 5, 4, 3, 2, one, ignition. David there we go. They have left off. What is the mission . This is sending three chinese astronauts, to the Chinese Space station. Chinas the only country that operates its own space station. They were not allowed to take part in the International Space station, the european countries, the united states. China built its own. A sign of the success of the Chinese Space program, they are becoming routine because every six months or so they send three new astronauts to the space station, spending a few days overlapping with the previous group. For instance there are three astronauts who have been there since in may this year. They will be there for a few days. Then towards the end of the month, they are scheduled to return. David just broadly what is the bigger context . We heard more details about their plans over the next 15 years. What do we know about that . One of chinas top scientists involved in the space program, a few days ago gave a speech in which he outlined some of chinas plans. So, we know that there are robotic missions, without any astronauts involved. That will be going to south pole of the moon in the next few years. That is an interesting area for a lot of space programs. There is ice there. People believe there is a possibility of using the ice to create oxygen, to create hydrogen, to allow for further habitation on the moon, as well as getting to mars. Eventually the chinese want to send astronauts to the moon. So far the americans are the only ones who have ever sent anybody to land on the surface of the moon. The chinese scientists who gave a speech she other day said the timetable for that is around 2030. Haidi the competition with the u. S. Depends on other countries partnering up with china. Xi jinping has spoken about the desire to collaborate with other nations. Have we seen much of that effort being taken up . Well, china has been trying to drum up support for what it calls its International Lunar research station, a project they announced several years ago, with russia that is supposed to be near the south pole of the moon. Up until recently they really have not had much success. But they are starting to get some countries expressing interest, venezuela has signed up, pakistan has expressed interest. That said, they are not nearly as far along at winning allies as the americans are. The americans have initiative called the artemis accords, an agreement in setting the rules for space. That is something that more than two dozen countries have signed up for. Chinas not one of them. China poses that initiative of the u. S. And is pushing its own plan which is this Lunar Research station on the moon. So, they are starting to make some headway there. Haidi our bloomberg reporter there, as we have seen that successful lift off. We will continue to monitor that, as china has launched three more restaurants to the space station. We plenty more ahead efflandt more ahead. We have plenty more ahead. What do you get from the Morgan StanleyClient Experience . Listening more than talking, and a personalized plan to guide you through a changing world. adventurous music be ready for any market with a liquid etf. Get in and out with dia. Explore endless design possibilities. To find your personal style. Endless hardie® siding colors. Textures and styles. Its possible. With james hardie™. David now an update on some terrible news. 16 people were killed. Dozens were wounded after a man opened fire at a Bowling Alley in a bar in lewiston, maine. The Associated Press reports that the suspect remains at large. Authorities have urged residents to stayathome, and keep their doors locked. President biden has been briefed on this ongoing situation. Haidi President Biden and the israel Prime Minister netanyahu have discussed efforts to release hostages and boost a deliveries. Biden said he asked israel to delay a Ground Invasion of gaza, but that got no assurances from got no assurances from netanyahu. I indicated to him, if it was possible to get the folks out safely, thats what he should do. I have pointed out to him, if it is real it should be done. Haidi our bloomberg Senior Editor joins us. So, give us your take as to where this kind of leaves the situation. Obviously there has been concern because a ground incursion has not been rolled out, despite the limited progress made in these negotiations to free more hostages. Right. President biden wants to make sure that he is not seen as directing israels efforts here. He is trying to make the point that the u. S. Has some thoughts and experiences to share. The u. S. Wants to continue to try to get u. S. Citizens out of gaza and help free hostages. We have seen a small trickle of hostages, four released over the past several days. He does not want to be seen as having any kind of veto power over israels efforts. The u. S. Has, as many countries do, has increasing concerns about the humanitarian situation in gaza. Biden and president men yahoo discussed ways netanyahu discussed ways to get aid flown into gaza. You are seeing more of an outcry of support for some kind of humanitarian pause, a little different than a cease fire. A cease fire is a permanent secession of activity. They are calling for a pause to help get more aid in the help get people out, and try to find a resolution. Netanyahu has said a ground attack will be coming at some point, its just the timing that is really in question at this point. David and how has lets call it the last 24 hours how has support of the Ground Invasion, how has that evolved . Less support, more support . Well i think you are seeing more leaders who have tended to have may be relationships with israel, like turkeys president being more public in terms of saying that they think that there needs to be a pause, a hold, israel is going too far. We are watching closely what may come out of the eu later today where leaders have been talking about their own support for humanitarian pause. It shows the rising concern, day by day, over the humanitarian situation in gaza, and where that could lead if there is more of a fullblown conflict. Haidi our bloomberg Senior Editor with the latest. Lets look at the other stories we are watching. The u. S. And australia are ramping up manufacturing of mineral initiatives, meaning sharing more data to boost investments. The announcement comes during the Prime Ministers for visit to the u. S. Fourday visit to the u. S. Chinas military and economic influence in the indo pacific. India will resume select Visa Services for canadian citizens, to ease tensions between the two nations. Authorities will resume issuing visas to those of Indian Origin and for those who need to travel for business. Diplomatic ties deteriorated after the Prime Minister accused the Indian Government of helping orchestrate the killing of a separatist activist on canadian soil. David an update on energy markets. We were above 90. We are about . 22 below that level. We are seeing a pullback as far as west texas is concerned. It should be the december contract, just extrapolating, based on the date on the calendar. Energy stocks are down. You are seeing it moving in the opposite way. Flip the board, were looking at chinese property. It will be almost 24 hours into the story of country garden. In the last few minutes or so, breaking news out of the wall street journal, talking about how maybe this investigation will be expanding. This concerns evergrande. Beyond evergrande into some of the companys major creditors and lenders. More details is on that story. Where down to 5. 6 on evergrande. Just call it quite a substantial drop in price as far as this. This is fairly consistent anyway across the region. Haidi yeah. Consistently softer, trading across the region. Take a look at that. A couple of rights watts. Bright spots. Everything else across the region, across Asset Classes are looking dyer. Stocks extending the slide. It is fx risk, the yen is still in focus, a bit beyond 150. More ahead. David cap of 1 to the downside. Just every sector, lets call it a out of 10, earnings season, i think saic, carmakers if you want to talk about energy. Flip the boards. With 30 minutes left, we are down about 140 points. Thats quite a telling signal. Property indexes 1. 7 . They have stabilize the housing market, it will take time. A bit morning bowl. Haidi i am surprised. Youre seeing Consumer Staples about the biggest loss is i. T. , three point ive percent lower. We had disappointing earnings, we saw the google cloud, outlook uncertainty. The uncertain economic environment, heavy spending, take a look at what else we are watching, evs have been really and focus given those moves in both directions, take a look at honda, shelving plans to develop affordable vehicles due to a changing business environment. Solid batteries are due by the late 20 20s. Quotes the Assembly Line will begin operation in 2024. Once its fully operational we will be able to verify the tech knology and production capability. Over the next few years, we hope to go into mass production in the late 20 20s. Last year you announced affordable evs. Once the progress . Honda ngm started developing affordable evs last year, but after studying this, we decided this would be difficult. At the moment, we are ending development of an affordable ev. Gm and honda will search for a solution separately. Can you tell us those difficulties . There are many factors, but in the end, marketability or product attractiveness did not see great potential. But, this is only one of many projects where we have been working together. We would like to continue to have comprehensive discussions. Plus you said growth had succeeded expect patients. What is the strategy . In the chinese auto market, ev is the fastestgrowing segment. Were facing a challenging situation. By offering a wider product, we hope to improve business although it will take some time to get there. David that was the boss of honda. Afterhours trade will not be good. This its at the whim. Our colleague has more details. Met at reported thirdquarter revenue that beat expectations largely in line with estimates. The company said it will cap less than initially expected. Talent and making sure the rise and expenses are matching up with those goals. This all leads investors to believe it is bad business. Analysts are at the whims of uncertain economic conditions. This will have to take these things into account an answer how Artificial Intelligence will contribute to the top line. David turning our attention over to india. We have learned one of the groups auditors is under scrutiny. This group is just ahead. This is bloomberg. The chase ink business premier card is made for sam who makes, everyday products, designed smarter. Genius like 2. 5 cash back on purchases of 5,000 or more, so sam can make smart ideas, a brilliant reality chase for business. Make more of whats yours. Is it possible to fall in love with your home. Before you even step inside . Discover the Magnolia Home james hardie collection. Available now in siding colors, styles and textures. Curated by joanna gaines. Haidi welcome back. Joining us is a ceo. What will be top of mind is what will be the highlight of the technology we are seeing . We are coming into the phase which will be the key. Haidi were talking about six key plans. The research is happening across the globe. Technology from india, research and advancements. Understood. Wondering if you can give us some highlights . Yes. Departments are showcasing those were carbons and this is a big thing to deploy more 5g. This dovetails. Help us understand how real it is. Ts not just about technology, we are focusing on research. We are seeing a special session. 60 is number one. We are collaborating on the ecosystem. Using ai in data usage, data center. David in terms of the Companies Looking ahead as they walk around, i understand, correct me if im wrong, will we expect to see chinese manufacturers . We dont have those on the floor. We have a lot of indian startups. We are seeing technology advancements. David i want to clarify that there will be no. This is more about the technology not to touch up on this this. Haidi how much focus will there be on ai . Its a big push for all of us. We started that right now. We see progress. We are seeing planning through ai. Enhancement on solutions. Haidi the big push towards made in india, 20 think the challenges are to making that a reality . Im sure we will be there in the next couple of years. Were making this big push. We are honored to have a system which is working. There are some standards. Public infrastructure is doing considerable impact across the globe. David call the best, thank you for speaking with us. The markets are opening up. 6 10 of 1 . In indias case, six straight date on the benchmark itself, that is the lowest level on that specific benchmark. The longest losing streak in about eight months or so. Plenty more ahead. This is bloomberg. The chase ink business premier card is made for people like sam, who make everyday products, designed smarter. Like a smart coffee grinder, that orders fresh beans for you. Oh, genius for more breakthroughs like that i need a breakthrough card. Like ours with 2. 5 cash back on purchases of 5,000 or more. Plus unlimited 2 cash back on all other purchases. And with greater spending potential, sam can keep making smart ideas a brilliant reality the ink business premier card from chase for business. Make more of whats yours. Haidi bloomberg has learned our wealth to reporter joins us now. How likely are implications . We dont know what implications it will have and if there is finding of wrongdoing. We learned overnight theyre looking into a number of audit firms involved in reviewing those companies. This is going to continue hanging over the group. David have we heard from the group . Its been quite consistent, has done everything right area there has been no substantial finding of wrongdoing many regulator. We will see if there is anything that contradicts that message. David thank you so much. Thats run to indonesia. Put that into context, we are on track. On the bright spot, the global race is heating up. A key supply chain in this first episode, talking about his bid to bring tesla to the country. Focusing on electric vehicles. You have been trying to court tesla to invest in indonesia. He has pulled out. What are the plans now . Indonesia you are still in negotiations. [speaking another language] give us a sense of the type of investment they will be making in terms of battery production . [speaking another language] progress hopes will continue. Haidi you can catch the full interview on thursday. The United Auto Workers with 25 is 33 in the top break. Sources telling bloomberg on hopes that they will agree to the same terms. David hopefully the shaking of hands becomes more substantial. Looking ahead to the rest of the session. It becomes very busy, about china 25 into the earnings season. Give or take is not ideal. About one third have come in, he talked about the banks. As we were just pointing out, pick your holiday. Is it christmas . Is it valentines . Is it halloween . We are at session lows. We are entering the lunch break in hong kong. In Bloomberg Markets asia, the good folks in africa are up next. This is bloomberg. Explore endless design possibilities. To find your personal style. Endless hardie® siding colors. Textures and styles. Its possible. With james hardie™. The following is a paid program. The opinions and views expressed do not reflect those of bloomberg l. P. , its affiliates or its employees