Flat, fractionally higher from fridays close. The aussie dollar in focus today, a little weaker, . 76. Rva expected to keep it at 2 tomorrow, but increasing sentiment that rba has to cut. ,outh korea getting other way fractionally higher. Korean yuan down, but strengthening. Now, and5 online right this is the view. Futures had been pointing to a higher open, and now we are seeing a selloff. It is still strong yuan right there. Has finally got his hands on sharp. Chairman of foxconn technologies signed a deal for a controlling stake in sharp, saying he respects its innovation and leadership. Sharp shares surging in tokyo. Our tech reporter joins us right now. It has been a long, hard chase. Is it really over . Good morning. The money is literally in the bank. Transferred ¥100 billion to sharp on march 31, ending the chase. Finalizing the deal, a sale of ¥400 billion of new shares to give it full control. As the dust settles, the attention turns to the turnaround ahead. Angie aside from the challenges it seems thatou, sealing the deal might have been the easy part. Terry is fine at shaping a company and has a tough challenge ahead. The day the companies signed the deal is the day that sharp reversed its annual profit forecast to a ¥170 billion loss. Angie what can we expect from the two companies now . Investors want to hear what happens to the companys lcd business. Sharps technology is on the cutting edge of the market, but they have struggles with them then, which costs top spot as a supplier for apple. It is not clear what foxconn can do to fix that. There is still the question of what to do with sharps Consumer Electronics brand, solar operations, Office Equipment businesses. Angie ok. There live for us in tokyo. Sharp shares up 4 . Mitsubishis lending unit pushing ahead with plans to become the leading commercial bank by deposit. Doesew to president president is looking for acquisitions in the u. S. And opportunities to tap into asias middle class. See ander expect to impact from the pba negative pboj negative Interest Rates. With the current level of growth, theres not enough fulltime positions to go around in the u. S. Janet yellen sees more slack in the labor market than currently indicated by the unemployment rate. Recognizes, ihe think she does. Recognizes that those are not translating into economic growth. Even after a lackluster performance last month, Money Managers betting the gold still has room to run. Futures dipped from a 13 month high, hedge funds the most bullish since february of last year after gold posted its biggest quarterly advance in three decades, rising 17 . The dollars fall has lifted its appeal. The currency saw its biggest monthly loss since 2010. In newntinues to fall york after saudi arabia said it would only freeze production if iran and others followed suit. Crude has erased its gains for the year. Energy reporter joins us from singapore. With its first weekly decline since february on the comments from saudi arabia. This freeze deal has always becauseittle tenuous saudi arabia, iran, russia, these countries do not get along. Iran is just exiting Nuclear Sanctions from january, and its Oil Production rose to 3. 2 Million Barrels, the highest since sanctions were lifted, but less by a Million Barrels below presanctions level, and they want to get back to that tree sanctions level. Saudi arabia will not freeze unless iran will freeze. Freeze. L definitely not this puts the whole idea of the freeze into question. Angie where does that leave the oil market . Its a great question. The oil market is still oversupplied. We are two years into this price has notnd production fallen as much as it needs to to rebalance the market. Youre still seeing the u. S. Add supply week after week after week as they bring in imports, productions dont falloff. In the near future, if the market is massively oversupplied, which is why prices are down in the 30s still. Saudi arabia also planning to sell a stake in its state owned oil company. Is it preparing for the end of the oil age . It certainly seems like they are thinking about that. They are looking to sell a small state and saudi aramco, less than 5 , but trying to raise 2 billion for this investment fund, so instead of using the difference and oil services to pay for services, they can use dividends, a way to diversify their economy. I dont think the oil age is ending soon, but maybe they want to be prepared for it. Angie thank you so much for that. Shares are gaining half a percent after it reiterated its forecast for lower earnings in the second half compared to the first six months. Profit may be as little as 700 million u. S. Dollars, 9 below analyst estimates, still investors are buying into the stock, three quarters of 1 higher right now. Converty allow banks to one trillion yuan of bad loans into equity. Tom mackenzie joins us. How does this work . On theis comes back concerns we have seen, the gradual uptick in nonperforming loans, especially by state owned enterprises in china. The plan will see the equivalent of 154 billion converted from bad loans largely in the state owned enterprises into equities, so the banks take on that equity. Take threehase will years, and we are talking about some of the biggest banks in the chinese sector, China Development bank, the bank of china, icbc, and china merchants bank, but for the moment this is just a report, but we have had talk about this debtequities whop here it swap. Angie what are the concerns . Some of chinas banking , weve heard from the China Construction Bank chairman, china citic bank, saying effectively it might be turning bad debt into that equity. The state owned enterprises face a lack of demand overcapacity, a big focus on trying to trim those back and make them more competitive, so that is a key concern. Then there is the state support we are looking at, because some analysts say without big cash injections or easier capital rules, it will not help solve the problem in the long run. It is a shortterm fix. Angie it is a shortterm fix. There is a lot of simmering discontent on the social level, so i guess perhaps optics are important when it comes to salaries, right . Yes, absolutely, and the salaries of icbc, the largest bank in the world, and the s pay was 72 , the equivalent of 85,000, and we can compare that to the fund for pay factors for 27 million for j. P. Morgan. Angie entrylevel, google in turn intern. Tom their salaries are soaring, right . Its more like the head of a department at an innercity school. Morgans dwarfs j. P. Morgans jamies takehome pay. It is about the Chinese Government cutting back on inequality and showing there is some balance between leaders and employees when it comes to the pay scale. Angie tom mackenzie, thanks for that. Coming up next, what are the prospects of another fed rate hike this year . Our next guest says it might be sooner than later. That is after this short break. , it is 8 13 a. M. In hong kong these of the stories making headlines around the world. Murderpolice considering charges against people arrested in connection with the collapsed overpass. At least 26 People Killed in the disaster, and Officials Say building regulations had been ignored. 10 people detained and may face charges of culpable homicide. The project was years behind schedule. More debris potentially from the missing Malaysia Airlines plane has washed up, said to be from the interior of an aircraft and spotted by hotel guests. Last july, debris washed up on reunion island, and Officials Say two other parts found in mozambique are from the plane. The plane fannish two years ago. Vanished two years ago. Brussels airport reopened after the terrorist attacks with a temporary check in area and tighten security. 800 passengers per hour, less than 20 of usual capacity. Many carriers are using other airports, while delta is suspending its service until next year because of weakening demand. The airport should return to full operations in july. Powered by over 2400 journalists and 150 bureaus around the world, this is bloomberg news. I am rosalind chin. Angie big events we are following for you, india out with its first monetary statement after the budget, Prime Minister modi stuck with his growth target. Most economists expecting a rate cut of 25 basis points to 6. 5 . The Central Bank Cut rates four times last year but has left them unchanged for the last two meetings. Some big names in banking gathering in the bahamas on thursday for the annual meeting of the Interamerican Development bank. Andg them, the pboc chief the Chilean Central Bank governor. Monetary policies will behind on the agenda, no doubt. Thursday, watch out in vietnam, a new Prime Minister there. The Current Deputy leader is expected to be voted into the top job by the national assembly. The person who failed in his bid to become the party chief at januarys congress. , this years Indian Premier League extravaganza, the ninth season of the tournament, and the first match between mumbai indians and the supergiants. In 2014, the brand of value was put at more than 2 billion. Lets check in on the markets state of play will. State of play. Lets talk about emerging markets, this rally that we have been seeing, a lot of people wondering does it have legs. Good morning. Yes, that is the big question, emerging markets reacting favorably to the dovish rhetoric by janet yellen, pulling back from hiking rates, leading to consolidation in the dollar and a rebound in Commodity Prices driven by oil, all things that would be headwinds starting to fade away, so the market has reacted to that. The other concern is the Growth Outlook for china. We question whether things have changed much. A chinese economy still struggling, a commodity price market that is oversupplied, and we still see the fed hiking rates, some more strength in the u. S. Dollar, and those headwinds are still there. Broadly, investors are attracted to this market because it is relatively cheap. At the same time, we look to see where their Earnings Growth is. Has not cometh through and a big way for a long time, and you have to look at the trigger to see what will change before you start investing, but we are watching closely. Angie once you jump in, is this a trade with an Expiration Date, and at what point will that signal the expiration of optimism in emerging markets . I think it is more and Expiration Date of more clarity. Anything about oil price stabilization, such as the freeze deal, now off the cards, would help, and then again what we saw last year was as soon as the fed hike rates, the markets did not like it. If we get over the point where rates, then thats when you will see people move back into emerging markets. They could be something we look at in the second half of this year, just as that uncertainty becomes removed, but it is about what is attractive in terms of values. There are parts of the emerging world that do look attractive, but other parts have problems, the chinese financials. Longterm consumer story is a little bit more expensive. , certainly abt critical part of the formula, but are we going to get clarification when we get fed minutes . Dont think you will hear anything new from the fed minutes. We heard janet yellen speak once since that meeting, more dovish than will be reflected in the minutes. The biggest problem for investors is that they have moved away from price stability, from full employment, to talking about international factors. Concerns aboutng the chinese economy, where the currency is heading, and political dimensions, u. S. , allions, brexit vote those things the fed does pauls on when they do high rate hike rates. ,hen we look at market prices those are far too low. At two pointn is 3 , the highest in the cycle, showing things are improving in the u. S. Economy and rates do need to move higher. But it be gradual, slow, does not mean it will not happen. I think markets are too focused on that at the moment. Angie what about the rba ahead of tomorrow . Similar situation with the rba, the biggest thing we think about when we consider the rba is the currency. It will cause a hindrance to the growth in the global economy, the austrian economy, but the difference is whether it is shortterm or persistent. The stronger aussie dollar creates a problem. If it is a sharp move on the pmi numbers, private credit improved in businesses, all that suggests the economy is Getting Better and the currency should be stronger. ,owever, when we look forward if we do see Commodity Prices weaken more because of those would sayls, all that that some of that pressure can unwind in the aussie dollar and the rba wont have to start hiking rates. If they do cut rates, it will be a second half of the year event. We have a budget out in may, the same day as the rba meeting. Anything that does happen is going to be in the second half of the year for the rba. Angie we will leave it there. Thank you so much for that. Next, the dollar index hovers near a ninemonth low even as wages increase in the u. S. Headlines coming up after the short break. Welcome back. The fx headlines. Expectations that u. S. Policymakers will proceed cautiously when it comes to raising the Interest Rate. Numbers came in stronger than expected, wages also strengthen. The model upside surprises yen holding near a twoweek high against the greenback. Dollar sterling seeing the most volatile three months since june , and a gauge of future pricing suggest more to calm. Down 3. 6 ,s accelerating that the client after the referendum date for britains membership to the eu, june 23. The sterling tumbled to its since 2014 after a report on manufacturing at its lowest in 2013. Three month historical volatility indicates it is climbing to its highest in june. The cost of buying options to currencyn brazils rose to the highest in two weeks. Whether lawmakers will vote to impeach the president. The increase in volatility icates the guest work gosh guesswork. That could potentially pave the way for a new government that could have a chance of pulling brazil out of recession. The brazil currency is the biggest this year. The highest among 16 major currencies. Lets take a look at how the scene is being set for the asian trading session. Japanese yen holding and strength against u. S. Dollar, close to a two week high, not much change from fridays session, but trading at that 111. 64 handle, weighing on equities and profits when it comes to exporters. Elsewhere, downside for the aussie dollar, rba decision tomorrow, including pressure to move to more easing. Has beene dollar strengthening, putting pressure on growth down under. Those are the stories driving your forex markets. Angie a busy week of Economic Data and the United States. We will hear from the Federal Reserve about the thinking behind the latest policy decisions. We have a preview from new york. The week ahead will seek u. S. Investors continue to focus on the latest Economic Data as well as the signals from the fed. One of the big events will be the release of the minutes from the recent midmarch meeting of the fed chair janet yellen and fellow policymakers. Investors hope to gain fresh insight into the policymakers thinking. We will be getting that on wednesday. We will also get a new round of economic reports. Economists surveyed say u. S. Service producers expanded at a stronger pace in march, the first increase in five months. They also forecast the u. S. Trade deficit was little changed after widening at the start of the year. On the political front, lots of action, democratic and republican primary voters going to the polls in wisconsin. The last major contest before the new york election on april 19. Monsanto, bed bath beyond, right egg, among the company set to report numbers. More after this break. Stay tuned. Angie it is a 30 a. M. In singapore. A. M. In singapore. Youre watching first up. Finally completed his four your pursuit of sharp. Sealedsharp president the 3. 5 billion deal, rounding off negotiations that at times were on the verge of collapse. Ofrp revealed liabilities 1. 5 billion last fiscal year. Oil has erased its gains for the year with saudi arabia saying it will only cap production if others follow support follow suit. Iran has rolled out a production cut. China may allow large banks to convert one trillion yuan of bad loans into equity. An unidentified executive from the China Development bank it quotes an unidentified executive from the China Development bank. Powered by over 2400 journalists and 150 bureaus around the world, this is bloomberg news. Trading getting under way right now. Here is the action in sydney, tokyo. Haidi quite a lot of diversions and what is a holiday trading session. Markets have been close for the holidays today, but take a look. Australian stocks and kiwi stocks, tracking those gains. Highs, then the decline in oil, weighing on the oil and utilities sectors, but overall modest upside. Up a quarter percent when it comes to kiwi stocks. With conservative losses, opening down with a plunger 4 . It has cut off those session lows, but we are seeing the impact of that stronger yen, a twoweek high against the dollar. Lets take a look at some of the movers we are tracking in terms of the markets that are trading. Taking a look at some of these ,asino stocks doing poorly macau gaming numbers coming through for march. We are back to double digit declines after seemingly hitting something of a recovery when it comes to februarys numbers. We are seeing declines as much as 5 when it comes to sands china. Angie thanks. Indian Power Generator has been granted three licenses to begin building its giant coal mine. The operation is expected to of coal11 billion tons over its lifetime and crea