We are 30 minutes away from the open in china and hong kong. A down market at the start of this trading week. A lot of event risks on the horizon. We hear from President Trump in of first joint Session Congress speech. We are seeing a stronger yen, weighing down the japanese markets. Lets get straight to Sophie Kamaruddin at the market board for the latest. Asian i down monday for stocks after a weekly gain of. 5 . A lot of event risks on the horizon given trump and yellen due to speak. Gdp datahe lookout for from india, australia, china pmi , Housing Starts and capital spending. Inanese shares focused today. , so setei 225 down. 9 for a fourth day of declines. Some equity movers in focus, toshiba falling 3 , the day to day swings as speculation around its chip unit sale. Friday, it announced it may consider selling a majority stake in its chip unit to a thirdparty, but chipmakers also in the red. In korea, the kospi in the red. Deepening losses. Dram chip price growth has slowed in february and expected to fall in the second half. Are investing to increase output in that space. Some other movers on this index, hanjin shipping shipping reversing losses. On march 7. Elisted a quick check of australia, the asx 200 down. 4 . One data point out from sydney this morning, Fourth QuarterCompany Profits up over 20 quarter on quarter, mostly because of mining profits which outpaced manufacturing and real estate. We are still seeing materials drug alongside oil and gas stocks in sydney. Take a look at some of the movers. Bhp and rio tinto continuing to decline. Rio tinto falling almost 2 . Haidi thanks for that so bp this will be the top story dominating Chinese Markets when they open. China is ready to allow more companies to list 18 months after regulators clamped down after that 5 trillion route. Why the change of heart now . Rosalind the Chinese Security regulator says china is ready for more ipos, ready for what it appropriately larger supplies of ipos after a stronger than expected recovery from the 2015 market route. Said new companies can increase market liquidity and attract additional capital. Effects fromthe slowing or suspending ipos have proven to be not good and dismissed concerns that shares could depress the market. He also says ipos cannot fix longterm Capital Market issues. More than 600 companies are seeking approval, 280 approved last year, 240 actually completed, so there is a backlog. They also talked about reforms being needed them a but also sang a stable Capital Market is needed for this reform to happen. , they and to that end have been approving more ipos, or will approve more ipos, but also introducing new curbs. Right, largely on secondary pacemans and issued on the pace of secondary places, how much and how often companies can issue shares. The number cannot be more than 20 of a companys total shares, and also said additional share sales must be in principle at least 18 months after the Capital Raise from the last sale and place. This chart shows secondary market equity sales in china, theyreowth, but 2016, in the secondary share placements. Financing has rate six times as money as new listings last year and theres a practice where Companies Offer smaller ipos to get approved faster, then private placements after that. Takesrc said it would steps to prevent companies from raising too much at one time, because ipos and the secondary listings appear to be a popular way of raising capital. Back to you. Isdi it is a market that prone to volatility, so a fragile balancing act there. Thank you for that. Lets get first word news with Haslinda Amin in singapore. The London Stock Exchange says the European Commission is unlikely to approve its planned merger with torture boorse. Deutsche boorse. Mts is an electronic platform for government bonds. The 13 billion merger would have created the largest player. And the u. S. Justice department are said to have nominated a veteran lawyer. Kenneth feinbergs appointment will be discussed by a court in detroit today, where sources say that they are expected to admit hiding the dangers of its airbag s for 15 years, linked to 17 deaths. Police in malaysia say the airport where the brother of kim uns brothers death is safe. Vx nerve agent i was discovered in the death of kim jongnam. Demandedea has malaysia stop investigations. Two big names joining forces by issuing 600 million in new shares from a softbank unit of foxconn. Foxconn were on more than 54 of the venture and take the lead in investment. The chairman has been retooling his empire, investing in emerging fields like Virtual Reality and artificial intelligence. Global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. This is bloomberg. Haidi thanks. Well from Donald Trumps first speech to congress on tuesday to Janet Yellens next economic update on friday, the week ahead could provide some guidance on some big macro questions at our Global Economics and policy editor Kathleen Hays is with those now for a chat. Lets start with this at dressed the joint session of congress. Secretary abley to give us any hand about what president donald trouble say on tuesday . He does say that certainly when it comes to the fiscal policy, tax cuts, spending, he fortip Donald Trumps hand him, donald trump expected to a dress a wide range of issues, including immigration and other issues in the news as of late. But mr. Mnuchin has given two interviews in the past four days , and it fleshes out his views. First of all, entitlements are off the table for now. Donald trump will not be looking to change that. That is very important, social security, medicare, important to many people in the country. Is talking about being able to boost the nations growth rate with tax and regulation cuts to the degree that the gdp now project to be growing around 2 annually could rise to at least 3 or faster growth on the back of these changes, aiming for this comprehensive tax plan by august. I guess realizing it is a pretty big deal. It is a pretty big deal to budget experts, because they say if you cut taxes, you will have to pay for them. In the at a chart bloomberg now, 3483. The white line is the u. S. Debt to gdp ratio, more than 6 now. That is a very important number, because some people say when you get above 6 , you are getting into dangerous territory. The turquoise line is nominal gdp. It has slowed down and makes it harder to make up for tax cuts with more growth that would provide more tax revenue, etc. Bloomberg intelligence, the u. S. Team saying they are waiting to see if trump will give a sign that he is on board with paul ryans Republican House of representatives, his more hawkish approach to doing tax reform. Also, expecting that may be the markets will start realizing that it is going to take some time to get these steps taken, that there will be no appreciable host to the economy and tell next year. That is the kind of thing buying dollars, selling bonds come and buying stocks were counting on. Yellen caps off a week of fed speakers. What is expected, or should i say what is hoped for, when she speaks . I guess everybody would love it if she would say we will or will not do the hike. Be the final act in a week with eight fed speakers be at what is the market thinking now in terms of a hike at the end of that march meeting . The to the terminal, wirp, odds about 40 . At the end of the week, 34 , so people seem to beginning on board with those who say that it is at least a 50 chance. Ordersurable goods before the market opens in new york. Tuesday, fourthquarter gdp, expected a gain of two point 1 , up from 1. 9 . ,he feds main inflation gauge the purchasing Managers Index is big around the world, starting in the u. S. Come out on wednesday. Also on wednesday, the feds , anecdotal evidence painting a picture of the economy with more detail ahead of that meeting and a couple of weeks. Haidi all right, lets see if we can get some details out of that. Kathleen hays in new york. Looking ahead on Bloomberg Markets asia, forget the tpp, a new alliance could be the way to go p at we hear from the economy secretary. Next, arrives of a contrarian streak, the outlook from asia. This is bloomberg. Haidi the quick check of the latest business flash headlines. Deutsche bank cut its bonus pool by 80 according to reports from a newspaper. About a quarter of the banks staff will be affected, with some workers being offered longterm incentives as consolation. Which a bank said bonuses would be reduced to do to Interest Rates and rising legal expenses. Gopro looking for a boosted through a partnership with while huawei. It is under pressure from lowcost rivals. The company disappointed with Quarterly Sales forecast below estimates. Past, aa blast from the new range of phones that include a redesign of the classic nokia 3310 come a major push to revive nokias glory days. Hmd is also releasing other two classic nokia handsets. The rally in Global Equities appears to be losing momentum as investors grapple with political uncertainty. Our next guest says her clients and Retail Investors are growing increasingly contrary when it comes to equity markets. She is a Market Strategist from iga should. How crucial is this weekend terms of whether we continue to see support for this trump reflation trade . I think what we are seeing right now, looking maybe had a comprehensive s p 500, it is above the overbought region. That alone does not paint the full picture, but does serve as a warning sign, but you can find two thirds of the people going short right now. Sentiment and opinion. Look at the week, trump speaking to congress, and historically this is an opportunity for the new administration to share opinions and plans, so it paints an important week for us in terms of what we can expect, and you can either make or undermine expectations moving forward. Time, janete same yellen speaking at the end of the week as well. Our risks skewed to the upside or downside . Some analysts say that trump could deliver anything and it would be enough to keep the momentum going. Right. So, i think that is the thing about trump. On one hand, the market has we know does not really trade based on what he says per se. We know investors will be listening, but the fact is that itself,et is self the president enters into congress and there is a line and because we have heard from paul ryan giving his confidence boost to President Donald Trump, so i think the risk is on the upside for this week, but President Donald Trump has surprised. Haidi you said gold is a place to be amongst commodities. This is becoming a popular trade at the moment. This because of risk cuc within the u. S. , or are you looking at broader political risks within europe as well . Said, it so, like you is to make sure of everything going for it. I think first and foremost, we have seen political concerns. Some may regard this as overbought, but that underpins through rally is going right now, and in addition to the uncertainty in terms of what we might expect from President Donald Trump. Faces the congress and my change everything, but there is an expectation that delivery of what he has promised is still a question at this moment. Lastly, there is the fact that the fed once to be on a gradual rate Interest Rate hike path, so in that sense, we may not see the next Interest Rate hike gainingg in march as is attention, but june is when it will happen, so that will give more room for gold to see higher levels. What is more ponderable, developed market equities, or how do you feel about asia at the moment, and specifically within asia, what are you looking at . Vulnerable region given these headwinds from trade, potentially a change in the u. S. Rate profile, the dollar growth from here, how do like asian stocks . Stocks havesian been a surprise since the start of the year. Iscourse the attention trade. In 2016, we talked about how much trade and uncertainty for asia will be the case where the growth will sustain itself for pickup in 2017. I think at this point, i think there is room to run for asian indices despite the fact there have been substantial gains. The reason is we have had a debtor stabilization of the Manufacturing Sector in china, and that lifted sentiment. In addition, what we have heard previously in the last week from , then mnuchin and is that Trump Administration is not aggressive as they wanted to be, so in that sense, it leads to concerns in the near term. So for asian equities, i am whatsh, but we have to see the change of sentiment has like into the middle of the year of course. Haidi all right, thanks for that. A Market Strategist from ig asia. We look at samsungs efforts to gain lost ground after the note 7 crisis. This is bloomberg. Haidi this is Bloomberg Markets asia i am haidi lun. The latest tech goodies on show in barcelona with a retro classic enjoying a new lease on life. Peter, what are the takeaways . What has caught your attention so far . You are seeing this burst of creativity in barcelona just as market is phones slowing. You have had these introductions , the largest selling mobile phone maker and china. Lg electronics, long in the shadow of samsung and south korea, has come out with some interesting products. Its hand thatpped it will come out with a followup to the troubled note 7 phone. Withave nokia coming back a classic shaped phone. We will see if there is nostalgia for the old product from that company. Haidi nostalgia just listening and thinking about that phone, a rough timeas had of late. What is at stake with this new launch . Thats right. Samsung may have the most at stake. They are the largest mobilephone maker in the world. They had this terrible debut of the note 7, forcing them to pull the phone from the market, so they said they will introduce the follow up to that at the end of march. This is a highly anticipated product. People will be able to see whether it incorporates hightechnology features they had in the previous version without the problems. There is a lot at stake because the market is getting more competitive. The chinese handset makers are becoming more aggressive, not just huawei. You have apple waiting to come out with their 10th anniversary phone, so a a lot samsung at stake for a lot at stake for samsung. . What about newcomers you have a lot of them. Huawei began in Communications Equipment and what successful, and now they are competing aggressively against the mystic players. That market has become dominated domestich players players. Huawei is trying to show it can innovate and compete globally. Thank you so much for that. Looking forward to that, particularly the return of that classic nokia 3310 phone. Peter a from from tokyo. In just a moment, u. S. And china are in a trade war and everyone is losing. We look at the dispute over solar panels, how that played out. But the hong kong, shenzhen, shanghai opened, modest declines at the moment. This is bloomberg. Haidi we are counting down to the open of markets in hong kong and shanghai. Youre looking at that ferris tol ferris wheel next ifc. Allow more, a bid to ipos in china to attract capital, intending to boost the economy. The Market Recovery we saw from that 2015 summer route, 5 trillion wiped out, and those curves and controls came into place as they tried to keep things together, saying that recovery has been stronger than expected here it as of last month, 600 Companies Seeking approval to list in china come a trying to attract capital and boost growth. The other story is that as of the end of march, more than 80 of the pboc coming to maturation. Forwards, these were collected as the pboc was trying to support the yuan. Now that that is relatively , analyst saying they will allow them to expire. Here is sophie. Check out ant to note from jeffreys that they are turning more bullish on chinese stocks in light of share sale curves and fears of china being labeled a currency manipulator are seen as receding , so shanghai opening lower. 1 . On insurers in focus today given the step up in the crackdown. Kong, lower for a third day, falling about 3 after annual results missed expectations. Falling over 1 here today. Property players will be of interest in hong kong as the market is seen setting new records on friday. Two chinese buyers paired a rare price for a piece of waterfront land. Following that sale, the Hong Kong Economic times reports that developers are raising their prices of homes here. Signs are bullish perhaps for this space. The hang seng Property Index has date,d about 15 year to outpacing gains on the benchmark. Lets look at the way property stocks have been moving on the hang seng. Kong go back to the hong market to show you some movers. Up. 6 , the, and are kong Economic Times reported they up to the price tag of individual homes at Providence Peak by 5 . I want to round up with a check on currencies. Foro have the korean won example trading in a narrow range after four Straight Days of gains on expectations of u. S. Tax reform supporting the dollarwon pair. The south Korean Special prosecutors corruption probe is set to end february 28. A quick c