Retail therapy as we just talked about. Alibaba single day features millions, raked in billions. We will be live in honcho. Yvonne betty, not sure how much shopping President Trump is going to get when he had to vietnam. He might be missing out. E is expected to head in their tweeting out from beijing. Meetings were very productive on both trade and the subject of north korea. He is a highly respected and powerful representative of his people. It is great being with him. Betty a lot of warm words exchanged during this today visit. When it came to tangible results that wereion of deals announced. Not much outcome. It was really quite interesting to see President Trump tone down some of that rhetoric. We have got to remember that i is coming off at the elevated level. He has more leverage against President Trump. The kind words from trumps tweets have a little more meeting behind it. He is finding himself at a more disadvantage against president xi and see how different they might be. In the meantime, speaking about the conversation. Saudi arabia planning to cut oil exports to all regions of supplies as opecs tries to clear the global. Shipments will fall by a hundred and 25,000 per day. Deliveries to the United States will decrease month on month by 10 in december. Bloomberg is told wealthy people in saudi arabia are moving abroad and out of the gulf. Told investors are liquidating holdings and that some are talking to banks about moving their wealth overseas. Saudi Authorities Say investigations show much money has been missing in corruption. Billshan 250 billion of most of them are old news. Boeing deal for 300 planes, are largely for planes included in other orders since 2013. Int deals are nonbinding agreement. Recovering from initial after our slump, as news of an apt Free Streaming Service rope. Raising investment on parks and online services. Q4 earnings missed expectations. Following ad sales, and weak movie debuts. Warned that fiscal 2017 would be an anomaly. Global news, 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. Im courtney collins, this is bloomberg. Thank you. Amidst all that debate perhaps a lot of jitters. As we wrap up the trading. Japan having an ugly start so far. Betty ugly start of the session in tokyo. Investors are reminded that investors are a oneway trade. Plus we have oil cuts to contend with. Trumps leg of his asian tour in vietnam. Taking a look at whats going on with the nikkei. Todays lunch. A two day slump. It is the most intense price swing since april. Take a look at what is going on with soul. Down 4 10 of a percent. T could snap i wanted to take a look at what is going on with the ringgit. In 2018. Rate hike it is rising for the straight session. It sounded more confident while downplaying recent pickup in inflation. The aussie dollar is study. Aussie shares are halting a three day rise. Holding above the 6000 level. Have Oil Prices Also on the back foot. Thank you for going through the markets right at the early going. The great tax debate has moved one step forward. The house ways and means the gop tax plan. Their republicans unveil own overhaul. Bloomberg editor Jodi Schneider joining us now. Incorporate tax rate down to 20 but it does include the delay down until 2019. Is this 20 rate going to stick . Jodi it looks like it. Both chambers have agreed on it. This has been in the plan since the white house came up with its talking points on tax overhaul. So 20 probably isnt the problem. Probablyear delay isnt a huge problem. What are likely to be problems because in the end both chambers have to pass the same bill are some differences in more specific things between the bill. In the senate they cant afford to lose Many Republican votes. No democrats are supporting it at this point. Betty very tight indeed. They are bracing for debate points. What are the most difficult points to get through . Betty this is where it gets tricky. Can probablyambers agree on that. When you get specific, you can start losing votes. On state and local tax deductions, the house bill limits it to 10,000 per year. The senate bill gets rid of it. Republican. In the house there are a handful of members who represent states like new york and new jersey, that is are popular tax rate. They will have trouble defending that vote. Again, they cannot afford to lose too many people. Will fightdustry very hard. Once lobbying gets involved it will complicate the process. With the course timeline, there is the threat of a Government Shutdown in december. Is that enough of a reason to get the gop moving . There are all kinds of reasons. We are starting to talk about 2018 and possible challenges to gop control. They want a quickly. They hope by doing it quickly, there wont be much time for the lobbying and outside interests to get involved. Potential shutdown with the budget, no one is talking about it quite yet. There talking about the bill. It is complicated in getting anything done quickly in congress. It is tricky. Betty the last thing they want is controversy. We did see that with the alabama senator. With the allegations of sexual harassment. How much is that going to be detrimental for the gop party . Jodi it certainly a complication. Race that isate going on. That is not something they were worrying about yesterday. Now it is in the news today. That could be a potential distraction that they do not need at a time they are trying to pass complicated inflation. Of course, Mitch Mcconnell saying that more should step aside. Get more on the roundup of this story on todays edition of daybreak. Mobile onable on your the bloomberg anywhere app. You can customize your settings to get the news you care about. This is bloomberg. Tgif. This is daybreak asia. Yvonne im yvonne man in hong kong. International correspondent is there for us. Good morning to you. A lot of issues when it comes to north korea. What is going to be the top priority at aipac this year . Doubt trade. Seepundits are waiting to what trump has to is say. Is that trumpote is appearing, is attending this apec summit. Wereoo long ago, there rumors that he would not attend. That is significant. It shows some sort of commitment , some sort of engagement. The leaders here are waiting to see what his policy would be in this part of the world. Lets get some insight perspective from the former u. S. Ambassador to vietnam. This is an important trip for trump to show he is committed to this part of the world . Absolutely. There are two or three things that he wants to do here. Wants to show asia that the United States is a Pacific Power and wants to remain in asia. He will also talk about economics and trade. Everyone is interested in what he will have to say. So he is not liking trade agreements, but he is not doing bilateral either . Most of us are hoping to hear what his grant dayton is for the region . Is there a vision . Thats what a lot of people are saying. , doing has no vision everything on a transactional basis. His opportunity to show the world that he does have a vision. That he believes in there, open, trade. At 2 30 p. M. We will find out what he does think. There is a 60 chance that he will disappoint. What are the implications of that . It depends on what disappointment means. If he comes out and says that , it will be ass terrible disaster for the United States. We believe they are quite the opposite of being useless. They are getting even more useful the day. Is note United States taking as much of a leadership role as they have. We can talk about many of the issues that trump says are very near and dear to his heart. Fair trade. How do we balance off the people who have not had a voice in trade Going Forward . There are a lot of reasons for him to actually want to engage here. Think he is going to disappoint. I think he actually will come up and say that multilateralism has a place, but it is not for him. He believes that working through things like nafta, bilateral basis he has more leverage. The jury is out on that. We will have to wait and see. I myself prefer multilateralism. Is the sense you are getting in terms of Security Issues . Will the u. S. Be engaged in this part of the world . He does not really want to be a big part of that. The South China Sea is something that probably keeps general mattis up late at night. I think that is a sensitive issue, and one in which the United States has some very important interests at heart. Freedom of navigation trips around the region, i know that general mattis is doing a lot of talking about the South China Sea. Right now, the focus for trump is north korea. He is very laserlike focus on that. I dont know that there has been a lot of discussion on anything but that. Coming here, there may have to be more discussion on things like the South China Sea. Particularly here in vietnam. We have a robust relationship with vietnam that has grown over the years. We are doing more and more exercises with the vietnamese. , wethat the embargo is over can sell weapons to vietnam, i would think the president might be talking about that with the prime minister. There is a sense here that asiapacific economies are talking to the two big giants. Will nations have to choose eventually . The United States for a long time has tried to make it to try to have a relationship with Southeast Asia so that countries did not have to make a choice. There is a big world. There is enough room for all of us. Our objective has been to make sure there is enough space to let the Southeast Asian nations to decide for themselves. I thought it was interesting that xi said that now there is a choice. There is the western way, or the United States way. And now there is capitalism with socialist characteristics. Whatever that means. How data ands are going to interpret that, could give us some indication as to where we are going in the future. I dont believe they want to make a choice. We are certainly not going to push them to make a choice. Is there any asian leader influencing trump in a positive way . Abe was one of the first to influence trump. Abe, particularly in these elections, is showing himself to be a global player. He has been traveling all over the world talking about japan, kobe a. Oda. E a tpp11. Taken a lead in he is stepping up as a good proponent, a good spoke system a good spokesperson. I think that he is playing more of a role in terms of stepping into that vacuum that we left hen we lefttpp. I think we can look from more from him. Not day here and do big day here in danang. Were going to have more big guests joining us from aipac. David cunningham will be joining us later this hour. At 8 40 a. M. In just a little bit. Ceo will join on Bloomberg Markets. This is bloomberg. This is daybreak asia. Betty im betty liu here in new york. Apple has been trying to break into the video content. Film and television are very different from music. All is not lost. An idea that could solve this problem in one sweep, by netflix. Apple has discovered moving into the video content side, it is a much more challenging game. They want to participate in the service and feebased side because that is becoming a growing business for them. Theyre very much lagging behind other players like roku and on the content side, amazon and hulu. Seeing the same leverage with the film intelligence industry. Lets bring in lucas shaw. How likely would we see a tie up like that . A rumor that has gone on for years. The bigger netflix gets, the harder it gets for apple. Apple wants to by netflix, why would they start a studio inhouse. Im not saying its impossible, and it would make a lot of sense , but it seems to be trying to build rather than by. It makes sense in a way because they have this huge war chest over 250 billion. Should netflix and amazon be scared because they have hundreds of billions of dollars to spend . They are scared for that reason, because the show they , they committed to 20 billion dollars. They outbid netflix for that show. That one case is a reason for netflix to be scared. But the ceo of netflix has been clear in his statements. He doesnt think that companies ase apple are as committed he is. He is more afraid of companies that will go hard at it. Right now, it seems more like an experiment. As long as it is an experiment, he has less to worry about. Its an experiment, but given how much cash they have, if there is still a lack of a strategy it seems for apple. Are we getting any indication for the money they are spending on, the directors, the staff, the shows. Are we seeing any more decisiveness coming through . the strategy right now boils down to potential hits with the names that have broad appeal. They dont want edgy shows, they will not make house of cards. If yount to show that walk into an apple store, you would feel comfortable having your kids the at on a big green. ,here is a sweet spot for them but it is not as exciting as we have seen from netflix, amazon, and hbo. As far as how the shows will get out, or what you will pay, there is not much of a strategy. I assume the first shows will be available to anyone with an apple device, but where, i do not know. Early indications of this reese witherspoon, jennifer to man show, it speaks betty in particular. Betty moore you, then me i think. Yvonne thats for sure. It is all about Morning Television here at daybreak asia. You can be jennifer aniston, ill be reese witherspoon. Were going to be live and hong joe. More on that. Yvonne happy friday. It looks like the clouds are gone. 830 in singapore right now. Im yvonne man in hong kong. Betty not a bad way to start the weekend at all. Lets get to the first word news with courtney collins. Trumps up, president tour of asia rolls onto vietnam for meetings and speeches. Present hised to vision for a free and open vision. We are the importance it plays and americas economic prosperity. Danangeaders will be in and expect that trump will meet with put in. The key provisions on the individual side include retaining seven income tax brackets, but the rates would change slightly. With a top rate of 38. 5 . It was outlined in a memo to gop senators. Area economy is in the best shape for almost 20 years. It is time to prepare for a slump. S agree that more are needed for crises. Taking a rather bleak view. That would be very personal view. I think we are encouraged why the way the economy continues to grow. Mostly so far, socalled soft nature. It could be stronger. That would not surprise me. Courtney none for guiding Economic Policy behind the scenes, seems destined to stop for step into the sidelines. Beijing has announced a new regulatorsverseeing , leaving liu to take over. Global news, 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. Im courtney collins, this is bloomberg. Weve got some breaking news from australia. A focus on inflation. Lowering their forecast area paul allen has the main points of this. Paul as you mentioned, i slightly lower expectation for inflation. One of the headlines coming out of this. We are seeing the aussie dollar fall a little. Underlyingsaying inflation remaining steady. A slight downward revision there. The growth rate also appears to be revised downward. 2. 5 for risk of fiscal year 2017. Aboveing before getting 3. 25 by december 2018. The underlying employing the outlook. Changed. The bank has said they do not expect to reach that label that level of employment for a few years yet. The bank or shadowed a lot of this on tuesday. Indicating, there was likely to be no substantial change to the economic forecast. With the exception of a slight tweaking of those expect haitians. Of those expectations. Yvonne take a look at the aussie dollar. A bit of a dovish till. Atty lets take a look that. One aussie dollar getting you less than 77 u. S. Cents. It is set for its first weekly gain. Aussie has been fairly range bound. They have not been able to reach that for a while. Shows japanese stocks are sliding the most since august 18. We are keeping an eye on trading volumes. Retail participation hit a oneyear high. The nikkei 225 is set for a third day of losses. Utilities are falling over 2 . Energy is the only sliver of green. Taking a look at some movers in falling, losing as much as 8 on reports it is planning to raise 600 billion yen in capital. Tire makers are continuing to slide. Bridgestone falling over 6 after cutting their profit forecast. Falling the most since may. The company made a loss last year, but it is set to return this year. The company does anticipate metal prices to fall in the second half from current models. From current levels. Betty thank you so much. So many decliners we are seeing in the early going. Ander than thanksgiving could beay, alibabas generating a record 24 billion in sales. , it seems like these numbers when the numbers cant get bigger, they get bigger. What is the twist on singles day . Tom the annual homage to the consumer gods. This is a global event. It is bigger than cyber monday and black friday. It is a huge event. Single day largest focused on online shopping. Sales willstimating come in at about 24 billion u. S. Dollars. Twist,said, there is a that alibaba is now tying into its network, about 6 million mom and pop stores. They are allowing these stores to integrate their technology to be able to line up on their shelves, goods that they know are popular. Increase this data feedback loop. Then they can get a better idea of what their customers want. This, is a new religious exports. This is the backbone behind this massive ecommerce day. Thatogistics Company Drives alibabas. They are injecting 15 billion in over the next five years. President n with the and asked him what the singles day event meant for his company. Take a listen. Its not just for the alibaba group. It is for the whole it industry. Stress test. It will help us to improve our ability to deal with this kind of volume. Tom so a big push is the automation of the logistics industry. China is undergoing something up a revolution. Automated warehouses across the country, with robots. They have the largest in Southern China with about 1