Asian stocks opened higher on Monday following two consecutive weeks of declines as easing trade tensions between the world's largest economies bolstered sentiment. Shares in Japan and South Korea rose, while Australia dipped, after the region's equities fell on Friday amid concerns on US regional banks. Also, one of China's most important meetings begins on Monday. Chinese President Xi Jingping and other ruling Communist Party Elites will gather in Beijing to map out goals for the next five years. For more, we heard from heard from Fabien Yip, IG International Market Analyst. Yip spoke to Bloomberg's Shery Ahn and Annabelle Droulers. Plus - Lawmakers in the Japan Innovation Party (Ishin) are set to meet this afternoon to decide whether to form an alliance with the ruling Liberal Democratic Party that would likely lead to Sanae Takaichi becoming the country's first female prime minister. A gathering of Ishin lawmakers from both houses of parliament that begins at 2 p.m. in Tokyo may be followed by a meeting between Takaichi and Ishin leaders in the evening to confirm the alliance before a vote in parliament tomorrow to elect a prime minister, national broadcaster NHK reported. For more perspective, we heard from Nicholas Smith, CLSA Japan Strategist. He spoke to Bloomberg's Annabelle Droulers and Shery Ahn.See omnystudio.com/listener for privacy information.
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Daybreak Weekend: Tesla Earnings, European Banks, Trump-Albanese Meeting
Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to earnings from Tesla and Netflix. In the UK – a look ahead to European bank earnings. In Asia – a look ahead to a meeting between President Donald Trump and Australia Prime Minister Anthony Albanese. See omnystudio.com/listener for privacy information.
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Japan's Concern Over China Rare Earth Curbs, Credit Woes Hit Wall Street
Japan's Finance Minister Katsunobu Kato voiced serious concern over China's latest export controls on rare earths, stressing the importance of coordinated action from Group of Seven nations. "Japan is deeply concerned about these measures," Kato told reporters in Washington on Wednesday, referring to China's latest trade measures. "I called for G-7 nations to unite and respond," Kato said. Kato spoke following a G-7 meeting held on the sidelines of the International Monetary Fund and World Bank annual meetings. Also in Japan, ruling party leader Sanae Takaichi's chances of becoming prime minister strengthened after progress on policy talks with the Japan Innovation Party, with Monday emerging as a deadline for deciding whether the parties form a new coalition. The Liberal Democratic Party and the Osaka-based JIP, also known as Ishin, confirmed they are on the same page on major policy items. But one major sticking point remains in place: reforms on political funding rules. For more perspective, we speak to Shuntaro Takeuchi, Portfolio Manager at Matthews Asia. Plus - Stocks slid, extending a weeklong stretch of volatility on Wall Street, as bad loans at two regional banks stirred concern about credit quality in the economy and further underscored the fragility of the $28 trillion bull market. Following an earlier advance driven by another solid outlook for artificial-intelligence demand, the S&P 500 turned lower as a pair of regional lenders disclosed problems with loans involving allegations of fraud, adding to concern that more cracks are emerging in borrowers' creditworthiness. We turn to Jeff Palma, Head of Multi Asset at Cohen & Steers.See omnystudio.com/listener for privacy information.
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Bessent Floats Longer-Term China Truce, Trump - Albanese Meeting Preview
US Treasury Secretary Scott Bessent dangled the possibility of extending a pause of import duties on Chinese goods for longer than three months if China halts its plan for strict new export controls on rare-earth elements. The US and China have agreed to a series of 90-day truces since earlier this year, with the next deadline looming in November. Australian Prime Minister Anthony Albanese is set to have his first sit down in the White House with President Trump next week. The meeting comes as the Trump administration's interest in critical mineral resources has fueled speculation the US government may take stakes in Australian miners as part of a broader strategic relationship. Also key for Albanese is the fate of the Aukus security agreement that the US signed with Australia and the UK in 2021 to counter China's military expansion in the Indo-Pacific region. Central to the deal is a project — expected to cost hundreds of billions of dollars — to help Australia develop a fleet of nuclear-powered submarines. To help us preview the meeting, we speak to Bloomberg's Paul Allen. Plus - Wall Street was lashed with volatility as investors struggled to gauge the scope of trade tensions between the world's two largest economies. Stocks rallied, plunged, then rose anew amid optimism over earnings. As the earnings season got under way, Morgan Stanley and Bank of America Corp. jumped on solid results. We speak to Keith Buchanan, Senior Portfolio Manager at Globalt Investments.See omnystudio.com/listener for privacy information.
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US-China Reignites Trade Tensions, Powell Signals Another Cut
US President Donald Trump said he might stop trade in cooking oil with China, injecting fresh tensions into the relationship between the world's two largest economies. Trump on Tuesday cast the potential move as retaliation against Beijing for its refusal to buy American soybeans, which he said "is an Economically Hostile Act" that is purposefully "causing difficulty for our Soybean Farmers." The benchmark S&P 500 turned negative as Trump's comments re-escalated the conflict with China. Just hours earlier, both Trump and US Trade Representative Jamieson Greer expressed confidence that friction would ease through ongoing trade talks. We get perspective from Sandra Swirski, Founder & CEO of Integer. Plus - Earnings season has just kicked off. A gauge of big banks jumped after solid results from financial giants. Also today, Federal Reserve Chair Jerome Powell signaled the US central bank is on track to deliver another quarter-point interest-rate cut later this month, even as a government shutdown significantly reduces its read on the economy. For more, we turn to Rob Williams, Managing Partner and Chief Investment Strategist at Sage Advisory Services.See omnystudio.com/listener for privacy information.
Join Bloomberg Daybreak Asia for business and finance news centered in the Asia-Pacific region, along with insight and analysis on the day's top stories in global markets.
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