Waste of time and he is going to do what must be done. And even though some of the major markets are closed, investors are going to keep eyes on simmering tensions in north korea. We are going to get the Hong Kong Survey for the Fourth Quarter out of japan. Theyll get a glimpse of how businesses are feeling about the economy. You were just mentioning the top of the headline about shinzo abe and his prospect. Represented by the blue line here. That certainly has benefited exporters. Recentlyn see, as of we have seen that. With thehat has to do Dollar Strength we have been witnessing. We are going to look at how businesses field. Sincest monthly gain february. Losing a it of speed wrapping up the Fourth Quarter on friday area we see record profits from japan. Here is how we are faring so far in asia. Not a whole lot of action with markets in new zealand kicking things off. Down a fifth of 1 . Strength easing on this monday. We are seeing up a fifth of 1 . Looking for a slight improvement after some steady gain. Could ben, 100 1268, seen some gains on the equity markets this morning. Its golden week in china. The day after we got some big fireworks yesterday night and treating in india or south korea. Lets get you caught up in singapore. Morning, china rose to a fiveyear high, indicating efforts to clean up the Financial Sector and environment arent yet hitting the economy. From 51. 7n september a month earlier and beating expectations of 51. 6 in a bloomberg survey. Slipped. Y a cut in the amount of cash lenders. 90 of city commercial banks and 95 of Rural Commercial lenders ranging from 0. 52 foreign lenders will also be illegible if they meet the requirements. South korean experts rose to a record month in the global economy. Shipments rose in the 11th month of 45 . Imports also beat expectations, showing south korea is surviving the war of words between washington and pyongyang. A new vision for global travel, saying the journey from new york to shanghai can be done in 30 minutes. Claims to be able mars, themarx, to International Space station, or make a trip around the earth. Tickets costing about the same as full fair economy in a traditional plane. The great thing about going to spaces there is no friction, so once you are out of the atmosphere it is smooth as silk. You can get to most longdistance places in half an hour. And if we built this thing to go to the moon and mars, when i go to other places on earth . Global earth global news powered by analysts in more than 120 countries. Lets talk about another rocket man. Tillersonof state rex saying the u. S. Is communicating with north korea but its Nuclear Program and testing pyongyangs appetite for talks. President trump says it is a waste of time. He said, i told Rex Tillerson he is wasting his time trying to negotiate with little rocket man. Lets cross over to washington and our reporter. Is this a Good Cop Bad Cop strategy . Or is President Trump undermining his secretary of state . Its hard to imagine trump would have signed off on this short but very important visit to beijing this weekend if there wasnt any kind of strategy behind it. We do suspect there may be a little good cop and bad cop. Tillerson let it known let it be known there are two or three direct lines to pot dark lines to pyongyang. We dont know if there has been any progress made. It does seem like channels are trump to come out and talk about dont waste your time. Is surprising but perhaps there is some method behind it. There is a lot of stuff to get through with what is going on in washington. Several comments coming up from , itident trump on your looks like hes making a total 360 one or maybe a infrastructure, saying hes not supportive of publicprivate partnerships. You may remember candidate trump talked about harnessingure and private funds to goose of federal spending on the nations roads and bridges and airports. That been that has been a platform of his for a while. He has a staff in the white house working on this project. Supposedly there would be a pro be a formal plan. He said a lot of times those Public Private partnerships, they dont work well. He really has had a change of heart and our reporters are looking for other guidance on that. Its supposed to be a trillion dollar plan and a lot of companies have seen their shares go up on expectations. President will be traveling to puerto rico to assess the storm damage. His angry comments over the mayor of san juan, saturday night live had lunch of new content. Could be a very awkward encounter for the president. He will uncertain if meet with the mayor of san juan, who is being critical of him, i think its possible he wont meet with her, he will meet with the governor, he will spend time on the island. Certainly it raised a lot of eyebrows and even the standards of a lot of his antagonistic twitter, coming out and talking about ingrates and implying some puerto rico late rodrigo people are lazy had a lot of blowback. Were wondering if this hurts his standing with latino voters. Great to have you kicking off the week. Now,hing gears to spain separatist leaders may make a unilateral declaration of independence by the end of the week. Hundreds of people were injured in clashes which regional lawmakers announced as the unjustified excessive and irresponsible use of violence. Musketeer european governor and editor joining us. I know it was very laid out there this evening. The video has been very alarming. Hundreds of injuries so far. What has been the feeling on the ground here tonight . I think it is like a sense of shock. We have been building up toward this day for weeks and weeks but nobody really expected it to fall like this. Measureden a very horse to contain the separatist movement. It seems like the gloves came off and we see all these incredibly shocking scenes of Police Officers dragging people out by the here, pushing women down the stairs, old ladies with blood dripping down their faces. Something either went black in the planning of this. Now we are in a scenario where this declaration, which seems to be a fanciful prospect 24 hours real andas become very the next question is where does that leave us . The governmente is unlikely to recognize these results. What is this mean for the Prime Minister and his ability to govern here . He has overdrawn his budget for Parliament Last week. The first thing is his authority is very much in the question. He went on television after it happened and cleared it hasnt happened where the whole country was watching the videos of the scenes, which made it fairly ridiculous. Going to bening is a very big moment. He needs to establish his authority very quickly. How about the concerns for the rest of the European Union . Factions or movements, what therese concerns . Are lots of regions around europe who will be watching this very closely. They have their independence 2014 and the scottish theater is targeting a second independence referendum once they got exit out of the way. There were parts of northern italy, parts of belgium. If it suddenly becomes feasible for part of the european state to split off on their own, then we anticipate there will be a. Ot of very nervous leaders were going to keep our eye on this situation in madrid. Plenty ahead on bloomberg television. Were going to unpack the latest talk on survey results martin schulz, that is in about 30 minutes time. And dont miss our interview with Tony Fernandes later on today. From three 30 this afternoon on hong kong time. The latest manufacturing data out of china says the economy continues to grow strongly. We will discuss that. This is bloomberg. Midmarket opens this morning. Much of asia is closed. In particular china and hong kong given the golden week holiday. I am betty liu in new york. Manufacturing rays to a fiveyear high cleaning up the Financial Sector and the environment, manufacturing pmi i just 52. 4 last month got a bloomberg chart, it really the pmi number, the fact that the private gauges we have seen is showing a it of a different pick her. A bit of a slide. Providedd has actually what we have seen recently. Lets get the latest with our next guest. He is bloombergs most accurate seniorter, tell joe, market economist. Give us a little bit of color on this right now. Tell us about where the economy is going. The pmitend to believe gives a more accurate picture of chinas economy. Chinas Industrial Production has slowed in the past two months. The official pmi continues to hit new highs. I think there is a vague a big divergence. Believe at this moment, i tend to give them a Bigger Picture of chinas economy at this moment. And we know there is a kind of recently to contain the air pollution in northern part of china. So that has been hidden in the chinese economy already. It wasnt just the pmi data, we have seen a mismatch when it comes to the manufacturing pmis and Industrial Production. What is at also say . Productionstrial gives a more accurate picture at the moment. Exports are chinas going to see a significant slowdown as well. And we count the possibility that china will see export growth in november or december. Aisk of a sick and it significant slowdown will be likely. What is that mean for the chinese currency . Thingthis moment the good is that there is no clear expectation at this moment. Basically given the Chinese Central Bank more room in terms of Monetary Policy. I would like to see a relatively volatile session in q4. 6. 5he price will be around to 6. 95. I think it is quite a big range for the chinese economy. And we do see that the volatility is ahead. Just listening to what you and cyclical slowdown in the Fourth Quarter is this change your outlook to the Deleveraging Program by chinese officials . You see any room to ramp up that deleveraging, or is it going to be the status quo . As long as the growth is above 6. 5 , the pboc does not need to change its policy at the moment. The deleveraging will continue. A cutw they conducted over the past weekend. If you look at the timing is very interesting. It is effective next year. That means the pboc has no intention to quickly or provided liquidity to the market very quickly. Believe they liquidity problem is not a problem. The most specific issue is the , which is theblem small firms are under pressure, but the big firms are ok. It is not only because of liquidity, it is more related to the structural problem and banking sectors. Case,t seems to be the because they have levers to manage the liquidity. Say anything about pboc policy is in moves ahead to 2018 and moves ahead after that part . Thatere a signal delivering an agenda will be easing off of it in order to support growth . Or should we be expecting more of these targeted rrr cuts . Think in the shortterm because it will be effective for next year. Significant or any cuts from pboc given at the economy looks still kind of above 6. 5 growth. For next year i think the problem is a significant issue facing the chinese economy. We do see the proxy market has to the tier down three and tier four cities already. We do see the physical stimulus will be much more than next year. We are facing pressure next year. Always great to have you. Of course for a round up of the stories you need to know to get your days your day going, bloomberg subscribers all you need to do is go to on your terminal. It is also available on the anywhere app. You can customize your settings so you can only get the news that you care about. This is bloomberg. Ceo john cryan may come under pressure from investors thanks to a turnaround plan to show results in the next six months. A spokesman still thinks crime is the right person for the job. Directors fell consulting the new boss or other board members. Something recalls something you would challenge how when nick against the lawsuit brought by largest shareholders. Revenueno can see no to 2. 7o revenue 16 billion. The momentum is expected to continue. Den we cast but central golden week has the potential to generate more revenue. Next the start of a new quarter, we will look at the most recent period and what we can expect between now and the end of the year. Also looking ahead to the japanese markets. We are seeing dollars take a little bit of a breather here on this monday morning. We will see how that plays into the job into the dollaryen. We will see how Business Conditions are faring. Looks to be a slight improvement on the nonmanufacturing and manufacturing sector. This is bloomberg. So we need tablets installed. With the menu app ready to roll. In 12 weeks. Yeah. The world of fast food is being changed by faster networks. Data, applications, customer experience. Which is why comcast business delivers Consistent Network Performance and speed across all your locations. Fast connections everywhere. Thats how you outmaneuver. Yvonne 7 30 a. M. Monday in hong kong. On a holiday after national day. We are 30 minutes from the open in japan. Betty beautiful. That you wish you were out there. York. M. Sunday in new also a gorgeous, gorgeous fall day in new york. The markets closed on friday higher, and perhaps could continue that rally. It depends on what happens with Economic Data we are seeing in the u. S. I am betty live in new york. Betty liu in new york. Yvonne lets get to first word news. Haslinda separatist leaders in catalonia say they may making National Independence by the end of the week. After 89 of eligible voters backed the move. 761 people needed treatment after riot Police Closed polling stations. People braved the Security Forces and said the controversial vote was a nonevent that did not happen. There has been no referendum in catalonia. All spaniards have seen our rule of law is still strong and enforced. Those that react, in the face of those that want to subvert that. The Spanish State has written another shameful page in the history of catalonia. This is not the first time. Too many oppression and violence has been the response to catalo catalan. Haslinda moore track more cracks in the trump administration. The infrastructure plan using publicprivate initiatives was announced. But then he said those types of deals dont work. Infrastructure was a feature of his campaign. The president also started controversy by saying the secretary of state was racing wasting time to seek talks with north korea. This came after trump acknowledged the u. S. Has been directly involved with pyongyang. Military options are on the table andtable and continued, sr energy, rex. We will do what has to be done. [please stand by] contenders for this years nobel peace prize. The european chief and the Iranian Foreign minister are leading candidates for the award. President trump has derided the accordance as the worst ever made, but it is supported by the international community. Dutyfree purchases people make on foreign ecommerce sites could be lowered to 25 in russia as the company tries to ease competition. The government of this may be cut next summer on the webpage it wrote. It could bring in more than 1 billion a year. And the embattled Prime Minister theresa may says she will stay on despite calls for her to quit. She was at the Party Conference insisting that the cabinet supports brexit policy even as Boris Johnson set out new demands for the negotiations with the e. U. It was a gathering of tories since the global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. I am haslinda amin. This is bloomberg. Yvonne we are counting down to the market open in japan this morning. Korea also, hong kong and china, india closed for holiday. Equity futures in the green, slightly positive. Lets get more with sophie kamaruddin. We are seeing records, the tankan survery coming out any time. Scarlet ahead of the sophie ahead of the tankan survery, we are seeing futures edge higher for the nikkei 225 and more from the yen losing momentum today. The dollar is holding on to its gains ahead of yellens speech on wednesday. The yen has lost 2. 3 in september, the first monthly drop or the currency against the dollar in three months. Yvonne looking at specific stocks, mazda and toyota, the partnership has been the ev raise. The more carmakers jumping on board, what do we know . Sophie suzuki might try to get involved with this ev venture, taking a 5 stake. There is speculation subaru might be joining the bandwagon and the ev venture, toyota has a 19 stake. The recent developments, the nikkei is reporting mazda looking to boost Capital Spending by 20 and next year 30 as plans to reduce evease easy cars for 2019 cars for 2019. Yvonne seeing limited trading with the regions that are closed. Regions that are closed. What will be a likely catalyst for equities in sydney . Sophie the aussie share market, this is the largest in the world, but today it is trading higher for a third day. Looking at the map, you see the breakdown for the asx 200 in sydney. You have trading at september 20 hi, health care and financial stocks alone, Energy Leading the way. We have the aussie dollar rising after the latest china pmi data. I want to show you this stock. You have beach energy, the worst best performer in sydney, gaining 17 . Recordctober 2004, a pickup for the share offering. That is part of this capital where we need to fund the 1. 6 billion was the Capital Dollar acquisition aussie Capital Dollar acquisition. Betty taking a look at some of the movers today in the market. One of the questions ahead, can the stock markets record run continue . We saw alltime highs, treasury splits,