Shanghai composite, 3 10 of an percent of the upside. Lets have a look at what is going on currency wise. This is the dollar index. Not that much changed. Bitcoin. Oves is down nearly 2 at the moment. [indiscernible] thetocurrency left to 18,000 level. Citigroup causing a stir with a 300,000 plus estimate with regards to bitcoin. U. S. Dollar index pretty much unchanged. Stasis as weoil in wait to see what is happening with some of these internal squabbles taking place with members of opec, mainly the uae. Mitchell with the first word headlines. Early south koreas trade data shows exports extending their recovery. The yearose 11 from earlier. South korea shipments received a boost from china and the u. S. Cap exports were up almost 22 . Singapore sees at the economy expanding by between four and 6 next year as it rebounds from the virus. Thirdquarter gdp shrunk by 5. 8 on the year and the estimate for contraction was revised to six to 6. 5 . The decline for the Third Quarter compared to a 13 fall in the previous three month. Global Coronavirus Infections are approaching 60 million with the u. S. Reporting more than 100,000 new cases each day since october. Drugmaker regeneron has won emergency approval for its antibody cocktail. Is discussing lifting some terms while friends is planning a threephase lockdown of measures. The u. S. Says it helps to start mass vaccination within three weeks with the head of operation warp speed saying the first shots could happen by mid december. Testing and approval still required as reported infection levels continue to soy. The governments top Infectious Disease expert does not see herd immunity happening before may. 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. Vaccine hopes and the u. S. Aiming for mass shots within weeks. A company has been in charge of getting regulatory approval. We are seeing new cases surging once again. Our next guest is leading their response to the pandemic. He served as the white house special assistant to george w. Bush for bio defense. Thank you for joining us. What hope is there for getting well,accine vaccinations underway in the First Quarter of next year . First of all, it is worth noting that we have done an incredible thing. When i say we, i mean the world and the Scientific Community. To go from identifying a brandnew virus in january of this year to having a vaccine on the verge of being launched, and extraordinary scientific a commish may. I would say it is one of the biggest scientific accomplishments to date. People are appropriately pointing out it is not going to deliver itself. The announcement by operation extraordinarily encouraging, that the u. S. Is moving quickly to evaluate the data from the first vaccines that have reported data and they will be vaccinating as soon as mid december. If he is saying they will begin broader vaccination early next year, this is a person who is very experienced in Vaccine Development and i believe him. When i first heard about these timelines, i thought they were extraordinarily ambitious. There are three things i thought could get in the way. One is the data itself. At the fight at the time i first heard about these timelines, no one was aware whether these vaccines work. Now it appears at least two of them do. The second is the manufacturing challenges. These are a bit unpredictable. Although you can plan for success, things can surprise you. The doctor is saying this is on track from a main effect ring standpoint. That gives me more confidence. Finally, the distribution. This very complex, logistical frozen cold chain that will have to be undertaken to get the vaccine to people. That is a big unknown. We have not done that before. I am hopeful the right planning is in place. Rishaad i just want to get to the efficacy of the vaccine itself. It has this 95 rate. Further down the line, what about longterm implications . Do you foresee any of that . Dnale have talked about side effects. What is your take . From the standpoint of the rna vaccines, which are the genetic code for the protein that is seen in the virus, there is essentially no risk that would alter the dna of a person receiving the vaccine. The Safety Assessment that is being done before these vaccines receive their first approvals is very significant. I would say it is close to the assessment if not the same as what we would see under normal Vaccine Development circumstances. The size of the Clinical Trials that are being conducted are about the same size as what you would normally expect. That is where you pick up some of the unusual side effects you might have from a vaccine. Datact to reviewing the from the experts, if there is an approval and a recommendation, i think people can feel very good about the assessment of safety and efficacy. Waiting on this approval to come through. 50 million doses is your initial plan. At what point do we see the entire population of japan able to get some kind of vaccine . Is that pushing out to the end of 2021 . I hope not. The japanese government has entered into agreements from a number of manufacturers. We have partnered with moderna, one of the companies that is producing an mrna vaccine to distribute that in japan in the first half of next year. I do not know the timelines are for the other partnerships the japanese government has put in place. I assume they are similarly ambitious. You said this was an extraordinary accomplishment. You have worked on a number of vaccines. In terms ofmore this process and how widespread the Health Care System has been working on trying to ensure we do get some kind of vaccine that is going to hopefully eradicate this pandemic and do you see an end to this pandemic in the next couple of years . In terms of the effort that has been undertaking, we can compare it to how long it normally takes for vaccines to be developed. The dinghy vaccine has been under development for 20 years. This is an excitable an incredible shortening of the timeline. People should not assume corners are being cut. The Safety Assessment is going to be robust. There will be some longterm, very rare side effects that might not be identified during the large phase three Clinical Trials. Those are likely to be very unusual and are unlikely to change the overall benefit, Risk Assessment of the vaccine. In terms of the end of the pandemic, there is light at the end of the horizon. When the Scientific Community and industry began this process, we did not know whether it was possible for a vaccine to prevent this infection. Some infections are very hard to prevent and illnesses. We have proven that with these first two vaccines. We have also shown the target of those first two vaccines, which is called the spike protein of the virus, appears to be the right target. The fact that it worked for these two vaccines is a good signal for many other vaccines in development. What that means is we are likely to see more positive data emerge in the coming months. What that means is more companies are likely to bring vaccines to the world. That break that means more vaccine for the world and a better chance a fair tradition of vaccine for the world. We do need that to bring this pandemic to an end. You cannot just have rich countries getting access to the vaccine if you want the pandemic to end. Aside from that being bad from an equity standpoint, it is bad for a Public Health standpoint. Can you tell us a of boostout what kind akedasuld be to t business . We are working on this because it is an emergency. Pandemic emergency awareness effort partnership with japan for a while. We have a very sizable plasma on anne operation, which ongoing basis is treating lots of individuals around the world with medicines derived from human plasma. What we are doing with that plasma effort is we are turning it to individuals who have recovered. Where pulling those antibodies and using that as a medicine to cf that can reduce the severity of the illness. When you think about antibody treatments, this is a form of antibody treatments. We hope it will we hope we will be able to show this is an effective form of treatment in the coming weeks. Rishaad we have big challenges for using either of these vaccines in developing countries. A healthd also be problem. In somer thing is even rich countries when you have so many antivectors, this is something that has to be looked at closely. This could mean the virus does not go away. Let me take that in two parts. First on the delivery challenges. There is no question that delivery of vaccines to large populations so quickly is hard. Do know what is really hard . Developing a vaccine in under a year . That is extraordinary. We as a Global Community have done something extraordinary. From a scientific standpoint, this is like a successful moonshot. Delivery is going to be very complicated. We do not have to invent planes. We do not have to invent freezers. We deliver commodities to the farthest reaches of the world everyday. It is a matter of getting the best logisticians, the best infrastructure people, the most experienced individuals who know supply chains to apply their talents to this problem. It also takes strong leadership and financial resources. If governments do not do what is necessary to invest in these distribution mechanisms starting immediately, then we are potentially going to run into distribution problems. That is something Everyone Needs to be focused on now that we know vaccines are coming. With regard to vaccine hesitancy, this is a concern that has come out of some polls that people have done. People have a range of concerns primarily because they are developing so fast. Some people have political concerns. Some people have historical concerns about vaccines in general. I believe that as more data is collected over time, people will see that these vaccines they will there will be transparency and they will see the efficacy profile of these vaccines. Lets fast forward a few months from now. There will be some people who have received vaccines and some who have not yet received vaccines. We will still be seeing kobe cases but in all likelihood, the majority of those cases and severe sows and deaths will happen in people that have not received vaccines. We will not be seeing the same proportions in people that have been vaccinated. As we gather more information, i think people will gain more confidence. In the long time, i think the issue will be taken care of. Rishaad there has been juliette there has been a lot of criticism about how the Trump Administration has handled the coronavirus. You used to work for the bush administration. Your thoughts on how the Trump Administration has handled it in any chance for you to return to the white house . I am not going to talk about the administration specifically, although what i say is going to be hard to decouple from the administration. We have had a huge problem with the response to this pandemic in the u. S. In the beginning, it was due to issues with testing. Later on, it has become a much bigger problem. We fighting two battles in the u. S. One is against the virus and the other is against a large proportion of the population the questions whether covid is a real problem and questions the basic Public Health measures Wearing Masks universally as an effective measure to protect people against covid. That is the tougher one to tackle, the issue of science denialism. What we need across the u. S. Is leaders today step up and get behind signs to turn this thing around behind science to turn this thing around. In terms of the Biden Administration, they have assembled a group of experts. Have a lot of confidence in that group. I am looking forward to that Group Starting to share his thoughts so governors and others can begin to take action in line with what we can expect from that body in the future. In terms of my own return to government, that is not something i am currently planning. I am happy to see that there are experience people in those positions as we speak. Juliette we thank you for your time. For an exclusive interview on Bloomberg Markets asia. Burst. Head, the bubble and uptake in hong kong infections forces a delay on quarantine free flights to and from singapore. We at how airlines will be affected. Next, we have more analysis on the way. This is bloomberg. Juliette welcome back. You are watching Bloomberg Markets asia. Lets get more on the days market action. We have asian stocks looking good, particularly south korea. The dollar relatively weak. What is happening . People are looking ahead to 2021 and they are seeing where the opportunities are going to be for global growth, for companies. Various a lot of that will come down to places outside of the United States. If you look at what is going on in asia, the south korean export numbers are extremely good. We are seeing good activity data coming out of china. Asia is one of the leading regions. It has the added advantage of good,g of having stable currencies. If your portfolio if you are a portfolio investor, you can look at asia and say not only to the stocks look like they have some upside but also the currencies are not particularly expensive. You get a kind of double whammy if you are a foreign investor. That is helping money come toward asia. We have seem reports of people such as citigroup saying the dollar could slip 20 next year. If you are seeing somebody who is moving out of u. S. Dollars, you can see of the risk is relatively low for shifting to somewhere like asia. Stockd we have cathay down because of the failed attempt at the travel bubble. The market showing resiliency. What is up . I think this is partly because people see so much better news has been thrown at the Hong Kong Market, particularly upper the past year or so and they see it is going to be hard to hurt hong kong from here. Valuations are relatively low compared to the rest of the region into the world on some extent. Quite loweng index is compared to the msci asiapacific. The lowest it has been for many years. About the prospects for the biden presidency mean there should be some improvement between the relations between the United States and china should benefit them well. If you look at the fundamentals coming through, korean exports are good for the region. And other data coming out as well. When you have relatively low valuations and something of a tailwind in terms of economic growth, that has got to be good for hong kong. Thank you very much. A burst bubble. We have this uptake in hong kong infections. That is the scene at the moment in hong kong. If things had settled down and juliette would have been one of them. This is bloomberg. A quick check of the latest business flash headlines. Two stay backs chinese firms are to help evergrande. Equitypanies will buy worth more than 4. 5 billion in the unit that holds evergrandes Main Property units in china. They are looking to list their Property Management arm in hong kong. Ant retaillth management and arm completed its listing days before new chinese regulations. The stock is now a target for shortsellers. U. S. Threats against Chinese Companies as it looks to list further units. Lets have a look market wise as we head towards what would normally be a japanese lunch break. Not today because it is labor thanksgiving. No trading for u. S. Treasuries and to london gets going. In six tens of 1 . Up by 6 10 of 1 . Be of the reasons may because of the travel bubble being suspended for a couple weeks between hong kong and singapore. Shanghai composite half a percent up. We are seeing the asx 200 being listed up. A quick look at the dollar and the aussie as well. The aussie strengthening. Starley also on the up as it is looking a little more optimistic we could get a brexit deal. Nymex crude coming off its recent move to the upside. This is bloomberg. 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Com. Is 10 29 i am in hong kong and shanghai. Thekarina mitchell with first word headlines. Chinese president xi jinping has addressed the virtual g20, telling fellow leaders he is ready to strengthen cooperation on Virus Research and a vaccine and to make any potential treatment affordable and accessible. He also underlined chinas support for the World Health Organization and the effort to coordinate resources and the Fair Distribution of medicine. President elect joe biden is planning to name his longtime aide, anthony blinking, as secretary of state. He was bidenNational Security advisor when he wass vice president. Jake sell oven will be Jake Sullivan will be National Security adv