Bullish. Ty the kiwi also in focus today. Saying theng through belowill avoid it dipping . 60. Trading indian futures and showing a move to the downside. Reflected in the session on friday when we saw a move to the downside again. The rupee holding on to some of the strength that we have seen and that is down to the decision, the surprise decision not to do anything about Interest Rates. There, 6. 6 . Ing up one rate cut had been factored in and it did not transpire. Let us find out what is news. Ing first word su the latest on japanese gdp. Japan moved faster than expected. Ratedl investment was higher. 1. 8 in september. Much quicker than the initial reading of 0. 2 . And three times as much as what the commoners were expecting. Continued strength in business investment. Downplayingt is recent missile tests in north korea saying the north Korean Leader is too smart and has too much to lose if he acts in a hostile manner towards the u. S. The envoy said talks on denuclearization are off the table and pyongyang said kim had overseen a test of a longrange missile launcher. The crown prince of saudi arabia has called President Trump to express his condolences for the killing of three u. S. Sailors at a u. S. Naval base in florida last week. Being accusedt is of a terrorist action. Eight other people were wounded in the incident. 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. I am su keenan and this is bloomberg. Get you back to the top story. Chinese exports unexpectedly falling last month. Let us find out what is behind it. Help us make sense of the numbers, selena. What does this mean for the mainland economy . Declinethe surprise underscores the impact this is having on the chinese economy. Falling for the 12th consecutive months. Expectation that the pressure well let up anytime soon. Because of the week Global Demand especially from chinas Global Trading partners. Some of the goodwill measures. Imports is aase in sign of stabilization in the chinese economy. Juliette what is the latest on the trade front . We had comments from larry kudlow. The weekend he said that it looks like everything is up to President Trump and he does not look ready to sign the phase one trade deal. There are still Sticking Point in terms of agricultural purchases and the chinese demand for the rollback of tariffs. Are notinal strokes there. We are coming down to short strokes. We have been there. Some of the most delicate matters have to be adjudicated and evaluated. He meant to an agricultural purchases as being one of the delicate issues. Wouldday, china said it roll back some tariffs on u. S. Products. The picture is still very murky. May come into effect on december 15. Rishaad thank you very much for joining us from beijing. Here in hong kong is brett mcgonegal. Thisont like the idea of starting a trade war, but what is it . Brett it is almost to the point now where it is laughable. Larry kudlow is out. The hawks were out on friday on the jobs report. It is nonsense. Larry kudlow wrote a report in march before taking the post in june saying how tariffs are the worst things in the world and now he is on tv saying how powerful they are and how strong the president is. Is this affecting the economies . Without a doubt. The uncertainty is affecting them. Not that much has happened to. A lot of headlines but not a lot of followthrough. We are long on the story and short on the deliverable. Hopefully, the deliverable will be that they are going to come to terms. Rishaad this is edge. Hard to maintain a friendly atmosphere. As we have been hearing about what is going on marketina, the mainland is down. The export side what is the rate from that . Side, on the agriculture if it came down to china purchasing more products come it would be done. China would purchase the Agricultural Products it needs anyway. I dont put any merit into that. Police i. T. Theft . There is no International Body to determine that. I think we are trying to solve a problem that largely can only be solved by a headline that says we have a way forward. There is no way they can police what they say they are policing. I understand they want more stringent laws and it sounds well and good. How do we get there . We could spend 10 years formulating a body to do this. Idea is lost. Hole the hope is that they can get to an agreement, they can begin to act friendly, and then they can start doing stuff as a cooperation and than act as partners going forward. I think that is where we ultimately,. I dont think this is that shaky to be honest. Juliette picking up what youre talking about in terms of the data especially on the import side. Does that bode well for some of the other economies like south korea . They could see a pickup in their exports. Brett i think we all have to be aware that there are a lot of anomalies in these numbers. I dont think one month of a number means that much. I have cautioned before that the fed gets excited about the jobs number. I dont know if we will get a clear read through. The bureau of statistics in china is quite sophisticated. I dont necessarily think that something that will korea. Fit in south i would caution that we need a couple more months of that to make something positive out of it or it least have a better handle on whatever we have today. Juliette you are going to stay with us from capital link in our hong kong studio. Still ahead on Bloomberg Markets asia brexit and beyond. Polls have johnson heading for a majority. Hong kong is seeing its biggest prodemocracy march in months. Will there be more unrest next year . This is bloomberg. Rishaad you are back with Bloomberg Markets asia. In hong kong, they are calling for a general strike. We are out in the Central District of the city with yvonne man. What are you seeing so far today . Yvonne this general strike was not really widespread. Some rail lines this morning were perhaps disrupted a couple of minutes or so what it was not as big as perhaps some were anticipating. Was as after what relatively peaceful weekend. Numbers, turnout in 800,000 showing up in the streets yesterday in the march. This was the first rally since august which was approved by police. That prompted a lot of people, young, old, families, to come out in numbers. Deja vu from what we saw six months ago. Where the rallies brought hundreds of thousands if not millions of people onto the streets. You can say momentum has not died down. And it was tame. A lot of questions on whether it would escalate we did see some clashes with radical protesters and police but we did not see tear gas at being fired or Water Cannons being used. There was some then alyssum. Protesters targeting chinese banks for example. And there was a court of high it was a all in all, pretty peaceful weekend. Juliette a lot more peaceful then what was anticipated but there is still a fear that these protests will continue into the new year. He was spoken to the hong kong managerial authority. What is next for them in terms of trying to stop any capital outflows from the city . Yvonne at this point, it seems the economy, while it has been dragged into a recession, it has hit the slave the Retail Sector ism sector. R otherwise, it has been quite stable. With beijingew news, they say they see no signs of capital outflows. If the economy weakens further and if there are signs of deterioration in the property sector, they are willing to perhaps lower the buffers for the banks and there is some room for that. They have not gotten to that point just yet. There are also questions about how beijing is weighing in on this. We spoke to michael about carrie lam and this is what he said. My understanding is that they are looking for a backup successor regardless. The chinese president has come out and given his total support to carrie lam. If that is the case, carrie lam really needs to show her courage and somehow convince whoever twoever parties there are look for the inquiry. This is also important. Thene no response from government on this weekends events. We have seen some signs that beijing is making its presence hurt. Over the weekend, the American Chamber of commerce was denied. Ccess to macau he was told to leave with no reason given. Perhaps this is a sign of retaliation from beijing. Sanctioned some human Rights Groups as well after President Trump signed the hong kong bill into law. Farave not seen it go this where they are perhaps targeting business groups. That could be a development. At this point, they just hope it is an overreaction to the Current Situation and businesses can still forge ahead. Rishaad good stuff, yvonne man in central hong kong. We will have more highlights from that interview. Stay with us. Brett mcgonegal is still with us. Evolving in hong kong . Brett i think last month was a little bit of a wakeup call for everyone that is in and around hong kong. When the protests got into central, things were a little different and they were highlighted by those that have not seen a lot of it. Everythingrday, looked like people would take the Higher Ground and allowed the legislators to move forward. I think that would be a great thing. I caution all the time that in an age of double in an age of diplomacy, if you dont choose your words wisely, you get something that you cannot put back into the bottle. I dont think we are there. There is some sort of level head that is come into the situation. Hopefully, people can get to the table to talk about what they need to because i believe that at the end of this whole movement it was being driven and nobody knew what principles were really driving it. They had gotten so far from what started it. I hope this can be that levelheaded opportunity where both parties can get to the involvedh less emotion and come to something that makes sense for everyone. Juliette what does that mean for the points of the economy . We were just talking to Yvonne Council said that the had not really seen a lot of capital outflow. At my chart, we have also been seeing hong kong dollar deposits. After the slump in august. We know the technical recession part in the retail sales slump, is this positive that were not seeing capital outflows . Brett i do think it is a good sign. I think the pain has been held on the retail level. The independent shop owners. It does not seem as though rents have been adjusted the way the economy is performing. It is pushing people into a situation where they can no longer keep the doors open which is a problem. Those things do not change overnight. Acutesue is i think very in hong kong. The hong kong residents and shopowners especially. I do not think large pools of capital will reallocate. I do not believe that they will kong dollar. Ng i think that is a baseless concern. I think the large macro drivers are still in tact and they will funds barriers that keep here and i dont think we have to worry about that going forward. Has gotten a lot of peoples attention is that in the last two or three years, u. S. Politics they have gone right and become very hawkish with regard to their view of china. How has that changed as the narrative . Brett this unfortunately is the downside of donald trump not having the benefit of the doubt in the international community. The bill that has been passed in the u. S. As it relates to hong kong has nothing to do with him. He can veto it. Rubio, something done by the neoconservative side of the Republican Party which is really hellbent on getting some sort of blood from chinahong kong. Think wemerican and i have no business in being involved in this. Even bethink we should saying anything let alone passing laws. I do think there has been conversations between donald trump and the chinese president saying that he was not behind this and not supporting it and it was more of a Political Tool being used against him. I dont think it will have that much of an impact at the end of the day. I dont think the u. S. Will interfere in Hong Kongchinese politics. As far as this bill is concerned. Juliette brett mcgonegal, we want to get some more of your thoughts including on your favorite topic, brexit. And a screen make her stock and a screen maker stock that is popping in hong kong. That is next. And this is bloomberg. Is is bloomberg. Rishaad let us have a look at the latest headlines. Goldman sachs putting gold on a high. The Justice Department and other federal agencies discussing penalties. Less then what some observers had been expecting. Hsbc has begun shaking up top management ahead of the arrival of a new top executive. The retirement of their chief risk officer, mark moses. Hsbc could focus more of its resources on asiapacific. A better return on shareholder capital. Take a look at milk. The surprise resignation of the ceo who leaves just after 18 months on the job. Be leader onill and interim basis. We are looking at au optics which is rising in taipei. Jumping the most we have seen on record. The most since 2000. This is after Morgan Stanley raised the stock to overweight on a rebound. Saying a cyclical upturn last year well help a profit turnaround in the second quarter. You can see it has not been a great year for au optronics. When you look at analysts recommendations, they are more neutral on this stock. Thesen get a glimpse of stocks on your bloomberg terminal. Plenty more ahead. This is bloomberg. Juliette it is almost 11 30 a. M. In singapore and we are in the middle of the trading day. Flat ins and a poor. Also, were hearing that singapore has a property glut that could take years to clear. The city state has an overhang of almost 32,000 units. Sales have averaged about 2500 homes per quarter. It could take about four years to clear the glut. For now, let us get the first word headlines from su keenan in new york. Su starting with mexico which says changes to the successor to nafta must respect what it calls its red lines. The foreign minister says the u. S. Proposal for steel and carmaking originating in north america would only be successful after five years. While washingtons demands on aluminum are impossible for mexico to meet. Negotiations are expected to resume on monday. Indian lawmakers are set to approve legislation. This is the latest move in the hardline hindu nationalist program. Indiasainst constitution. The proposal allow citizenships for hindus and others who ived here legally illegally from pakistan and bangladesh however, muslims are excluded. To the middle east and qatar which is holding talks with saudi arabia. The latest on the standoff in the gulf may soon be resolved. Kingcomes after the saudi invited the a mere of qatar to. Ttend the summit of gulf doha of funding terrorism and having close ties with iran. Australia Emergency Services on high alert in queensland as hot and windy weather continues to stoke devastating bushfires. More than 2000 firefighters and 100 aircraft have been involved in attempts to halt the flames which are threatening to in circle sydney encircle sydney. 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. Keenan and this is bloomberg. Equity trading. Getting some direction. Mostly to the upside. From the tailwinds from new york on friday. Betterthanexpected jobs numbers. The 0. 9 . Ther than hang seng up 28 minutes after the opening session. Indian open in about 12 minutes or 13 minutes. Looking flat. Fair values slightly deeper decline. Look at the indian 10 year yield best because the reserve bank of india on thursday decided not to cut Interest Rates when virtually everyone out there thought they would. Rupees for a dollar. Juliette bond trading adjusting to that shock. Polls suggest Boris Johnsons conservatives will win a healthy majority unless brexit can find a way to coordinate against him. Analyst joins us now from seoul. We saw a rally in sterling. What do we expect . The consensus is that the option market. Risk reversals. We are seeing a bigger premium for the options. Markets are positive on this. Insuringheir bets and the options. The dollar. Sus if it reaches 134, it could go quite quickly. Levelte the resistance youre looking at to keep the rally going . 132 is the may high. 134 is from march. If it reaches those levels, a quickly opens up the market quite a lot. To 136. O quite easily we will get an initial pop in sterling. Look at the Economic Data next week. We will have economic information. Even though you may have this week could, the be a could start boe sounding dovish. Rishaad david, thank you for joining us from seoul. Is the chairman and ceo at capital link. We are entering some sort of endgame. It must be a relief for many people. Something may well happen here. Brett something is supposed to happen though we dont know if it will or not. We have spoken about this many times. I did not think there ever would be a brexit. I think it is a very delicate issue. As we know. I think it has been politically bifurcated. I heard someone in whom i have a lot of faith over the weekend saying that even with the majority, Boris Johnson may not actually do it and they may not brexit. And then what happens . Rishaad all bets are off at the moment. Perspective,tment how do you look at this . Thought thatlways the idea of fidelity to brexit a brexit happens, i think if brexit happens, i think it gives the u. K. A Strong Foundation to build a very business friendly environment going forward. What do i mean by that . Athink the eu is not at all certainty that every country stays in. On the there is a wobble southern part of this. Solidifyk. Can themselves, they can go on to pro business tax cuts, some sort of economic regime that is well understood, a compliance and Regulatory Environment that is business friendly and they can attract people that will be more likely to want the certainty of what is going on then the uncertainty that sits across the pond. I think that is a great thing. Otherwise, im not an expert. I