Japanese stocks have lost 140 billion so far to date. Brazilian lawmakers are voting on the impeachment of the president. Campaignescribed the to topple her as a coup orchestrated by her deputy. , dontme on twitter hashtag, include the e trendingbusiness. The oil price plunging, asian stocks retreating. Juliette good morning. It is all about the oil price and the stronger yen. Taiwan, singapore, falling in the selling. The kospi now down by a tense of 1 . Has come back a little from losses, over 3 in the early session. To earthquake adding concerns about how much the damage will cost the japanese economy, and we continue to see the yen surge playing on the export companies. Is only downsx 200 half of 1 at the moment, so coming back from earlier losses. New zealand leading the charge, thana 10th of 1 , a better expected cpi number for the First Quarter. We are seeing the oil plunge have an impact on Energy Players in the region. There has been a flight to the safe haven, gold price supporting, and the nations largest carrier, qantas, has cut its expansion plans. A Real Estate Company has just update, the share price down by 29 . The japanese yen is weighing into investor sentiment, continuing to strengthen against the dollar, 108. 05 at the moment. Prices china property coming on the bottom of the hour when hong kong and china open. Yvonne thank you. Our top story, the pressure on, oil prices on the slide after the collapse of the output talks in doha. What now, david . No deal. If iranpec saying that is not going to play, we are not going to play. There was a reasonable amount of optimism built into those talks. The discussions took more than 10 hours longer than planned. The Oil Ministers walked away with nothing. The meeting was pushed back a to hours after the saudis the surprise of many present byered its position insisting iran be part of the deal. Attend ated not to the last minute and had said it would not be part of any deal. Russias energy minister, not hiding his displeasure at the change. Also the host minister, where do we go from here . Think we have not reach those expectations we had when we prepared this meeting. How could a country that did not in the meeting be the result for no agreement . This is the position of the largest producer, saudi arabia, and they think all opec member should participate. That weeeting concluded for furthere from now untild opec alling of participating countries will consult amongst themselves and with others. Very quickly. Wait until new york takes their first go at this piece of news. Thank you. We will take a more detailed look at that story later in the show. We want your opinion. Some breaking news, brazilian lawmakers are on the verge of voting to him peach to him peach the president. Privately says the end is near. The lower house of parliament is voting now. Joining us now on the line, good to have you, is this the end of the road for the president . Road ands the indo one the beginning of a long neck strode. This is the vote in the lower road. Of a long next the lowere vote in house, and the upper house will probably go along with what the lower house it decides, but this is not the very into. Yvonne you mentioned what will happen in the sentence, which could happen during this motion going forward. The coup mongers were stronger, but there will be a fight, so what will happen next . It is expected that the government will try to of appeal raised on the merit of this impeachment request being heard. Tricksased on accounting that the president used to hide a budget deficit. She is not being impeached for corruption or any of the News Headlines about brazil. , and it isget issue likely the government will try to challenge that in court. Yvonne can you give us a glimpse, a description of, of what it is like in the streets of brazil right now . We have seen supporters from both camps point out onto the streets. Give us a glimpse of that. , on one side sense you have the proimpeachment protesters, on the other side, you have the progovernment protesters. , you have a lot of the opposition congressmen who are treating this as game over for the president , talking about the day after and what will come next for brazil. Yvonne thank you so much. Thisntinued to watch coming out of brazil. Opposition lawmakers hang onto that clearly to impeach the president. Thank you so much. Closer to home, china has accused International Ratings agencies of biased after lowering their sovereign outlooks. Speaking in washington after the , so theseng downgrades happened last month, and china has taken some time to respond here. Of a delayedit reaction, an interesting given the initial reaction from china was that they did not care too much about the cuts because it had little impact, but stronger language coming through from the , takingfinance minister the opportunity to denounce the International Ratings agencies for bias against china. He says the downgrades dont reflect the Market Performance of that debt and dont reflect the economic realities. He points to the high levels of gdp growth at 6. 7 percent and the First Quarter quarter in line with the government targets , despite, as you can see, topline gdp growth falling from double digits in 2010 to that 6. 5 level that were seeing now. Not actuallygdp is what the ratings agencies are only concerned about. When they cut their outlook on sovereign debt for china, they cited the debt burden which went from 164 to almost 250 of gdp between 2000 82015, and the cost of servicing that debt is the concern. That is already a significant drag on growth and will only be exacerbated going further. You can see the problem in the search and chinese bonds, at the same time this recovery being field by more debt, march aggregate financing, 360 billion dollars, one of the highest on record and comes on the back of that record lending that we saw at the beginning of this year, a lot of that going into the Property Market. That has been fueling the recovery. The finance minister says that ratings agencies and the imf, which has also warned of the rocky china rebalancing, he says they are not familiar with the reforms in the pipeline, including the controversy of to equity swap program. He said the supplyside measures are also in the works. Counting downlso to those property prices at the bottom of the hour. Some other stories we are watching for you today. Morning. The worlds finance chiefs and did spring talks in washington on an up the note but cautioned the financial calm may only be to liberate. They say risks have stabilize, but Christine Lagarde explaining that the talks were a bit of collective therapy to move from the negative situation to a more positive approach. Still, Christine Lagarde was cautious. There was not exactly the same level of anxiety, but i think there was an equal level a collectived endeavor to identify the solution and the responses to the Global Economic situation. Finance ministers and shanghai pledge to use all policy tools, monetary, fiscal, and structural, to stimulate growth and reiterated that Monetary Policy alone cant produced balanced growth. Chancellorbrexit, osborne said the risks have risen and the universal view was that it would cause immediate shortterm shock and instability , and that there would be a longterm cost to the world economy. Japan Companies Continue to do with the aftermath of earthquakes. Toyo to macy off rating profits macyed by toyota operating profits reduced after the earthquake disrupted supplies. Extend to shifts will other Assembly Lines this week tour europe that stock is falling today. Honda says it is suspending production at its motorcycle plant through monday, while nissan stopped output. Today and tokyo trading after a stop in , keyction of camera chips components and iphones and digital cameras. The bankin washington, of japan governor said he was monitoring the Economic Impact of the disaster, which was hard estimate. The japanese Prime Minister has increased the number of rescue workers to 25,000 in the affected areas. Mitsui looks to grab a bigger share of crossborder mergers and acquisitions, hiring a former barclays veteran to lead a team and will hire 10 more senior backers over the coming months. Bank in fellow japanese expanding in the u. S. , coming at a time when other competitors are cutting costs as market volatility prompted them from pulling back prompted them to pull back. Is seeking toi boost income abroad by leveraging relationships with corporate clients. Yvonne thank you. Storing data through flash memory. Ofwill hear the secrets their customers. How low can crude go . The market is up next. Plummeting. N stocks thank you for joining us. Iran was not playing ball, but this conditional offer from the saudis led to the collapse in talks. Were you surprised by the change in tone . Difficult. T was commentaryajority of predicted the outcome. It really was not in the saudi interest politically or economically to tie its hands at this stage. Think a more interesting aspect is to think about the implications. Had there been an agreement, there would have been positive formalization of the big players. Saudi was agreeing that it would nonopecto replace production, particularly lower u. S. Production, so theoretically leaving that own that as ability possibility. I think irans production increases will be slow going from here. They have done the easy part. From here on in, they have to infrastructure, so i dont think will need to increase production under that scenario. I think they will be happy to see production fall back and the market move towards a balance. Yvonne it seems like theyre holding their ground, but what does it mean in terms of the overall rebalancing of the market. Most people are saying that this deal that would have gone have seen the rebalancing speed up. How much is this delayed now . My feeling is that it probably has not delayed in that sense the agreement was about a contingency. If it had been adhered to, it wouldve put a cap on further production increases by the big opec producers outside the saudis, kuwait, and probably iraq. The chances are that they are unlikely to increase production much anyway. End whole in the game in game has been to increase production faster limit production faster than they did in the 1980s. They want to bleed out the higher cost producers, and so as long as that continues to progress, theres not a lot of point in increasing production, so we are going to move towards a balance. Thise weve seen production freeze come a very much baked into the prices of equities, and weve regained all the losses we saw at the start of this year. Now, back tos mean a risk off until we see another meeting . I think this is very interesting today, because essentially the meeting created a bit of a conundrum for oil traders and the wider scenario in general. You had theand, majority of analysts saying that i did not think there would be an agreement, and even if there was, it would not make much of a difference. On the other hand, you had a stronger oil price. Either the weight of money in the market is agreed with analysts, or possibly, and more likely, the market had not been about the doha meeting. It has been about an underlying improvement. The doha meeting was just a bit of a froth on the top. Thatl be interested to see equity and oil markets have had a limited reaction today. We might see a little bit of a pullback today, but continued to wash around these high levels we have established in recent weeks. Thank you so much. I appreciate your insight. These of the stories making headlines around the world. Story at aping brazil, live pictures there as lawmakers are on the verge of impeaching the president. The lower house is voting now, and then the motion goes to the senate. Made a lastditch appeal for support a head of the vote, having lost most of her allies in several members of her coalition government. The number of People Killed and 246. Or has risen to strucknitude 7. 8 tremor 170 kilometers northwest of the capitol and was one of the strongest in decades. Officials say there is considerable damage and the area was hit like dozens of aftershocks. The new president of myanmar says he will release more Political Prisoners amidst Sweeping Democratic changes under the new government. The first freely elected administration for more than 50 years. Opponents of the old military backed regime were commonly arrested and jailed. It is not clear how many Political Prisoners there are. Powered by over 2400 journalists and 150 bureaus around the world, this is bloomberg news. Yvonne an early election looming in australia, as turnbull looks to stamp his authority. Youre watching trendingbusiness. Yvonne australian senators have returned to duty to debate two bills that could give the term ball government a trigger for a turnbull a trigger for an early election. Cross over to paul allen in sydney. What is the latest . The governor general spoke to both houses and then let them get to it. The debate dissented into political point scoring, so hopes are not high that either bill will get past. Up withdont, we end that double dissolution trigger that you describe. What that means is the entire senate would be up for grabs in an early poll, most likely on july 2. Bills aref these two in the hands of 68 cross bench senators, who will likely lose the jobs if that early election is held. Yvonne paul allen watching that for us. Thank you so much. More to come on bloomberg television. You are watching trending business, china property prices just after the break. Stay with us. Yvonne oil drops after talks in doha, no deal. Japaneseeighing on equities, sharp losses across the board, smaller falls in sydney and singapore. The aussie dollar and kiwi dollar also lower today. President of brazils said a vote in the lower house of parliament is wrong. But hert is continuing, opponents seem certain to secure the majority needed. The issue would move to the senate, where a simple majority would see the president suspended while an impeachment trial is held. The worlds finance chiefs have finished talks in washington on an upbeat note. Had stabilized after a rocky start to 2016, and concerns have eased since february 2 20 meeting in shanghai. They remain cautious about brazils political crisis, a possible brexit, and china slowdown. China Property Data coming out in a couple of minutes. We are monitoring the market open in shanghai and hong kong. A similar selloff as in the rest of the region. The hang seng down by almost 1 . Weve been seeing Oil Producers under significant pressure. Having a look at the shanghai composite, opening lower by 1 , as well as waiting for the china Property Data coming through. We will be watching those china property producers and stocks after that is released. The kospi is down, and a come but in the nikkei 225, now only, the asx 200 down by a 10th of 1 despite the huge selloff in the Oil Producers. Elsewhere, the philippines coming online, down by 2 10 of 1 . New zealand appears to be buffering this a little bit better. Yvonne thank you. Breaking news, china released the latest property prices. Unsurprisingly, gains across the board when it comes to china property prices, particularly the main cities. Up and 62 cities month on month. Existingng that across city prices. Shanghai, up 6. 2 on month. New home prices for shanghai up 6. 3 , newing up by home prices in the Chinese Capital up by 3 on month. New home prices were down and 29 cities year on year, up in 62 cities month on month. Cities surveyed by the government, so across the board arrives. This is about upward trajectory that we have had since the easing cycle began, six rate cut huge november 2014, and a amount of new financing, lending, leverage going into the economy, a lot of that going into the property sector and has driven these home prices, particularly across the major cities. We are still waiting on the nittygritty in terms of what the individuals at the individual safety breakdown is, but certainly expecting a 6 rise in home prices in the main cities. Continue to see that recovery when it comes to smaller cities struggling to get rid of that inventory glut. The major cities continuing to see this overheated market that the authorities have been trying to clamp down on. Prices ining home china continuing to increase in the month of march. Yvonne thank you so much. After talks dragged on for hours, 10 hours longer than planned, but produced no Common Ground. Lets go to our bloomberg commodities managing editor joining us live from singapore. Great to see you. Why no deal . Was it because of iran . It was theectively country that did not turn up the killed off any hope of a deal. And advance, iran said it was not ready to cap output until production had reached presanction levels. It called the notion of freezing its Oil Production is ridiculous. The day before the meeting, the Iranian Oil Minister said he was not going to attend. Deal would amount to self imposes sanctions on the country. Day before time, the the Saudi Arabians had said there would be no deal without consensus, without the presence of iran, so effectively any hopes of a deal was dead in the water. Dead and the water, so what is next for oil . In june, also possible production free stocks, russians say possibly in october now, so what is next . These talks will not do much to affect supply and demand, two of the main champions of a potential freeze, russia and iraq, already producing close to record levels. For the time being, there is another issue that the markets may be overlooking, and this is the worker dispute in kuwait, opecs fourth biggest producer. Production has declined by almost 60 , a significant drop in production, potentially a much bigger deal. At the moment, the market is focused on the failure to reach an accord in doha. It does send a clear message to the market, and that is that global Oil Producers are unable to reach consensus, unable to have a concerted effort