Back to an eight day holiday. They are putting much playing catchup. We have gains across the board. Shanghai is up 1. 6. These services pmi rising for a fifth month. The you on getting 6. 73 versus the dollar. This was stronger than expected. This is a weak dollar story. Some yen strength there. The bank of canada governors has negative Interest Rates remain an option. Courts seems like a lot of the action is in the shanghai markets here today given that robust reopening after the eight day holiday. We will speak exclusively to the Everest Medicine ceo. This is 27 right now in its debut in hong kong. The Trump Administration signaling that the administration is again leaning toward a largescale stimulus bill. That comes after nancy pelosi pushed back on the idea of peace for a. She is excepting refusing to accept help for airline without wider bill agreed. We want to help the airline workers. There is legislation that we had ed the cares act that we hope we could continue for the next six months or so. That expired at the end of september. We can do that separately but we cannot do it unless there is a big bill. To the latest on the stainless negotiations. Jodi schneider here. There seems to be so much back and forth on this. What is the latest on the shift we are seeing from the president . It has been a lot of backandforth. We saw the president just a week , basicallye hospital to do that if you wanted something, he would get this done. Clearite house made it the white house was not going to negotiate with trump pulling his negotiators out of those talks. Whowe have Steven Mnuchin just had a call with nancy pelosi, a 40 minute call saying that President Trump wants an agreement on a conference of stay most package. This comes after nancy pelosi said they did not want to do a. Iecemeal approach they wanted a big bill. The republic the democrats wanted to . 2 trillion. Whether this can get done in the next before the election, this is a real question. This is against the chaotic backdrop where you have the president recovering from the coronavirus. We heard from trump today saying that he is not interested in a virtual debate. What is the latest on the subject. We have the commission on president ial debates insisting that the debate will be virtual. Take it or leave it, virtual. That leaves the future unclear. President trump has said he will not waste his time on a virtual debate. He went back to the biting Joe Bidensaid campaign and said lets push the debates back but the joe biden Campaign Said we will not do that. Behavior doesc not allow him to rewrite the calendar. It looks like virtual, take it or leave it. Towhat about when it comes tariffs on china . How has President Trump has he changed any of his views . He appears to be doubling down, vowing to punish china with tariffs if he is reelected, china to buyaused more u. S. Goods. Particularly things like these purchases. He will mix that in the future if he is reelected, that china will repay those tariffs. That was Jodi Schneider in hong kong. Yvonne lets get our first word news with Karina Mitchell in new york. Karina fed officials are telling the Trump Administration that or it is needed to aid the economic recovery. Without it, the rebound would be a lot weaker. Robert kaplan told bloomberg it is not time for more qe. He said the fed is unlikely to create large scale purchases as it would not do much to help the economy. To see us be hesitant doing more in that area because i dont see the benefits. I can see how it would further add fuel to the financial markets. I am more skeptical of how much it would help the real economy. Joined thes now World Health Organization effort to ensure the whole world can be treated for covid19. The Foreign Ministry invasion confirmed the decision. It is not clear how much money china will put into the project. It aims to give lower Income Countries the same access to vaccines as welfare nations. The u. S. Has not taken part. The mood among merchants in japan rose last month to its lease pessimistic in more than two years, adding that the recovery is taking root among store managers, taxi drivers and others in the services sector. It rose to a ties level since april of 2018. The news will be welcome and one of his key advisors says he may call an early election next year. Global news, 24 hours a day on air and on Bloomberg Quicktake. More than 2700 journalists and analysts in more than 120 countries. I am Karina Mitchell. Yvonne fed officials keep up pressure on the Trump Administration to renew fiscal support. Maxlinear max k l causes ask max how this confusion over the dollar. The hong kong dollar surging 26 . Chard blanc chard blan will join us after the break. This is bloomberg. The chinese biotech room has made its debut. Drugs overon discovered or marketed overseas by the chinese by licensing, developing and commercialization. Health care ipos are enjoying a record year here in asia. Streak showsows no sign of ending. They have secured 16 cornerstone investors including gic, blackrock and hillhouse. Kerry is joining us. Before this listing, you did quite a few rounds of financing already. One of which that was quite remarkable in the middle of a pandemic. Walk us through while you tap into the Public Markets now and why in hong kong. Kerry great, thank you for the opportunity, happy to be here. We believe that hong kong, toause of its proximate he the China Mainland and being in asia is incredibly important for us. We want to be close to the patients that we serve and to we provideans innovative medicines to. Hong kong over the last two or robustly. S has grown had 154, maybeve 150 pharmaceutical companies that are listed. The Pharmaceutical Companys have done quite well. Yvonne you have a drugs in your pipeline right now. A Fresh Company here. There inill not quite terms of a commercial stage, what can you tell us in terms of timeline that you can start to generate some revenue . We expect our medicines will have two that will launch. We expect to file an nda promptly at the beginning of next year. Yvonne what are you seeing in terms of appetite from the u. S. And European Drug commercialization in china . In terms of interest, what are you seeing . Kerry they are really best served by innovative medicines. When we do this, we go to the companies that have assets that would 50s critical, unmet needs. We help these Companies Understand the importance of china. The reception has been quite good. You have 8 partners. The partnerships are strong. These assets are many times the. Rown jewels oftentimes, the disease in china is bigger than it is in europe or the United States. About yourus strategy and your expansion plans. Ever since they made headlines deals,l, in terms of what are the prospects . What are you looking at . What makes sense . Kerry this has been a medicine that has been validated in many ways. Our upfront was 65 million. The milestone for approval in the u. S. Was 60 million. I am sure you are aware that gilead is in acquisition mode with this and the Public Information least as they are for 21 billion for the company. We believe this is a great comparison for what the value of this medicine is. Breast cancer based on prevalence is the most prevalent cancer in china. We think the strategy of bringing this asset to china is very robust. Everests most advanced investigational drugs deal with drug resistant infections. How big of a priority is this for the Country Company . Priorityis is a big for the company. Resistant infections are life ending infections. These are very serious. The patients are seriously a, often in the intensive care unit. Antibiotic use patterns in china and Southeast Asia over the past 30 years, Drug Resistance has become a rampant of the isolates for this pathogen are resistant to most antibiotics. Unmet need in china. We are bullish about our antibiotic portfolio and the antibiotic portfolio where we had three different classes of antibiotics. They have all been successful in the past. They all have characteristics that could make them best in class. We are very excited about this for china and asia. I think we have also seen with covid, the importance of Infectious Disease in the world. That the multidrug resistant pathogens would spread across the world. You mentioned a few of your drugs they got approval in the u. S. Extent do you think these drugs can actually succeed . That you can ashley get a decent chunk of the pie in some of these developed nations . Actually get a decent chunk of the pie in some of these developed nations . The best in class characteristic of the molecules will drive the uptake. The physicians in china, when we speak with them, they constantly tell us that there is a need for a new and more powerful antibiotic, we have patients that have no options. Therehe past 10 years, have only been two medicines approved in china. We believe these are very important medicines for china and asia. Before we let you go, any plans to ipo in the u. S. . Kerry we currently dont have plans to ipo in the u. S. It is a great question. Portfolioe how our progresses and what new licensing deals we do in the future. Of course, we would like to have with our global scope molecule molecules. As early move forward and license these molecules, we will have the opportunity to join some of the global activities. Yvonne thank you for joining us on your very big day. Kerryas everest ceo, blanchard. Behington and beijing might sparring over everything but that has not stopped china from setting record ipos in the u. S. This is bloomberg. The lateste are business flash headlines. Advanced micro devices is in talks to by zylinks. The latest mega chip maker deal would follow a purchase, if that goes through as rivals battle for a bigger foothold in this market. They all must double this year as it looks to break intels stronghold on this lucrative market for data center components. Morgan stanley is to buy the mutual fund for about 79 in cash and stock. Shares were up almost 50 with almost a 3 premium. Morgan stanley gets Brand Recognition and also spans its Asset Management business as big players continue to gobble up small and mediumsized money managers. Facebook has pulled think accounts that were trying to sway Public Opinion in favor of President Trump. Facebooks network began in 2018 and was still working this year, criticizing joe biden and the democrats and praising the president and the republicans. The accounts commented most frequently on our the new york times, washington post, fox and cnn. The tiktok saga is far from over. The Trump Administration appealing a court ruling. Stephen engle joined us from hong kong. All the gyration. Where do we stand now . Some a development on this trumpet mr. Risch an effort to contain or restrict these chinese innovative apps in the United States. And wely on tiktok checked, there was a parallel attempt by the Trump Administration to ban those apps in the United States on federal security grounds. Federal District Court judges ruled in favor of these chinese trumpet against the administration. We have an appeal filed by the trumpet administration on the tiktok luminary injunction. Last friday, the Trump Administration also filed and an appeal on that we chat. Those sagas are not over yet. There are still legal chapters to come. However, it is more interesting now because of the story of reported yesterday. The trumpet administration according to people familiar, the Trip Administration is looking into how they could possibly apply restrictions on the chinese payment platforms that have really grown in china. Pay. Talking about ali alibabas Financial Services opening. We will have to see how that clouds the ipo. That is coming down the pipe. Ipos, weeaking about all know that Many Companies are too busy to this in hong kong. What are we seeing on the new york side . It seems there are still a lot of chinese ipos. Why . Get a deeper pool of liquidity and more flexible it. They dont necessarily need to be profitable. Especially on the trumpet administration, they are getting far more scrutiny. They could be forced to do list if they dont meet more strict accounting regulations. 9. 1 billion year to date has been raised in the u. S. By chinese listed companies. That would be the highest since 2014. We have more coming down the pike. We have this company in china seeking to raise about 3 billion. There are retailers seeking to raise about half 1 billion. Qe holdings has raised 2. 4 billion in the u. S. That is a portal for property in china. Raised carmaker in china 1. 7 billion in the United States. That being said, lets put things in perspective. Of all the Chinese Companies that have raised capital and ipo in 2020, 86 of them have chose hong kong or china. The u. S. Is good but hong kong and china are much more. Billion dollars raised in hong kong and china. That is not even including the impending dual listing, 35 billion total. Looke the pipeline strong. Lets take a look at markets right now. All the focus is on that china reopening in shanghai. What investors are doing is buying stocks, selling bonds. They are up close to 2 . So youre a small business, or a big one. You were thriving, but then. Oh. Ah. Okay. Plan, pivot. How do you bounce back . You dont, you bounce forward, with serious and reliable internet. Powered by the largest gig Speed Network in america. But is it secure . Sure its secure. And even if the power goes down, your connection doesnt. So how do i do this . You dont do this. We do this, together. Bounce forward, with comcast business. Haslinda it is 10 29 a. M. In hong kong and shanghai. 10 29 p. M. In new york. Im Karina Mitchell. Stimulus talks remain gridlocked in washington. Sources say Steven Mnuchin raised the prospect of reviving negotiations with speaker nancy pelosi. The approach came after President Trump called for special relief for airlines. The speaker is ruling out a standalone bill to any sector of the economy without agreement on a broader stimulus package. What helped their line workers . There is legislation we had in the cares act that we hoped we could continue for another six months or so. That expired the end of september. We can do that separately, but we cannot do it unless there is a big bill. Karina a check on gaming activity as Gross Revenue during golden week was down 76 compared to a year ago. Casino activity in the first seven days of this month, the results are disappointing but not unexpected. An analyst see macaus growth gaining revenue falling well over 70 before a robust recovery in 2021. The end of an era is a step closer for one of the greatest planes in aviation history. British airways retired its last because covid19 has devastated air travel. Almost 50worked years, flying 104 million miles. They operated 57 jumbo jets at once. They were only confident with credit cabin crew on board. The malaysian Opposition Leader says he will meet the king next week to offer proof he has enough support from lawmakers to form a government. Last month he said he has the numbers to top of the Prime Minister, raising speculation he may demand an election. The Prime Minister rejects it, saying he remains the legitimate pm. He accuses him of selling political unrest. Global news, 24 hours a day, on air and on Bloomberg Quicktake, powered by more than 120 journalists and analysts, im Karina Mitchell, this is bloomberg. Haslinda lets take a look at the markets. Asia lackluster. Lacking direction as investors are mulling the prospect of a stimulus package. Futures pointing to a higher in the u. S. Stocks at fiveweek highs. A Biden Victory projected. A weak dollar scenario. Down by. 2 . Brent crude above 43 a barrel. Coming down about half a percent. The market is all about china. The pmi better than expected. Coming back from eight days of holiday. What a day it is. Surging up by 2 . Australia has been fluctuating. Set for its best week in six months. A boost of the budget expected to benefit them. Lets take a look at the movers. Rande extending to 4 , even though they say operating targets could be 2 . Needs tocrown restructure, following a probe to do with money laundering. We are tracking solar stocks in surged, 20 , peers up by nine. Robert kaplan is urging the Trump Administration to get on with fiscal support for the economy, warning without it, the recovery will be weaker. The fedkathleen hays doesnt have the tools to replace fiscal stimulus, and more qe is not the answer right now. Ismy own judgment, and this one of the things we will know better in hindsight, how long the relief lasted. I would guess we are goi