Philadelphia. Welcome to daybreak asia. Lets go straight to the markets open now. Juliet, i think we are seeing asian follow wall street lower. That looks like what were seeing at very early trade. Been aough there has news. From the in ks it could be more than the market has been looking for, but we are seeing weakness coming through. Performerwas the best yesterday. Signs also pointing to the fact that nintendo is likely to have a tumble when it opens. We actually saw south koreas of 1 in the second quarter. T was a little bit of unexpected come up we are seeing weakness coming through after that fall on wall street. Australias market is opening down. In new zealand, looking flat. Better than it was about half an hour ago. It had some pretty impressive trade data coming out of new zealand today thanks to good exports. New zealands market yesterday hit an alltime high. Data for investors to get through in the region today. Weve also got the philippines reporting trade data in japan. Just quickly, i want to show you. This is a threemonth chart. Trading beneath the average since april. Thank you so much. I will take you to some live pictures right now of the breaking Solar Impulse through two. The plane took off from abu dhabi last year. With two pilots taking turns at the controls of the ultralight. There comes now. The 17th leg of the journey. And left cairo to make the trip to abu dhabi. The entire journey was 35,000 kilometers. Some more facts. The maximum flight time achieved, 117 hours and 52 minutes. Was 28,000 also to feet. An average airspeed of 78 kilometers per hour. What a feat it has achieved as it makes ground there moments away. Lets go back to markets now. For yahoosful suitor online apps, verizon. That also includes yahoos one billion users. What now . Lets talk first about marissa mayer. A lot of people thought she would logout. Didnt thinkeople that, but she is staying signed in, and on a company posting earlier, she said as much. To meid it is important to see yahoo into its next chapter. She spoke with emily chang, and had this to say. I got to priorities, seeing it to close, but also watching over the value of our asian assets. , we willg forward ultimately figured out. Another thing that will try to figure out is her leadership role moving ahead. Verizon is saying it is too early to discuss that. Lets say that she doesnt get cause, apparently according to a yahoo regulatory filing, she could get a golden parachute of 65 million. Wow. She talks about watching the values of the asian assets. Vocus through these assets. How important are they . Sure. To meet assets we speak of, one happens to be in japan the other is in china. Lets start with china. It is a stake in alibaba holdings, about 36 holdings stake. Value of 40arket billion. Uslife these are important. You ask why these are important. Let us bring up a chart. This chart i want to show you shows yahoo market cap, minus alibaba and yahoo japan. Stakeentioned before, the in terms of Alibaba Group and yahoo japan is 40 billion. You can see that above this zero line, that is when yahoos market cap is higher than that of alibaba in japan. But on steaks, it is lower than that. That is why it is so important to take care of these assets. Thank you so much. We will talk with you later more about yahoo . We also have breaking news right now. Two hasr impulse finally landed in our dobby. They landed in abu dhabi. Before, they set off in the plane in abu dhabi last year. This is the 17th leg, now finished. The pilots are getting off the solar powered plane right now. 7500 trip to abu dhabi. They wanted to prove the future is clean. A lot of cheers on the tarmac out there. Let us check in on some other movers today. Bristol waiting for nintendo to trade. Oh no, it is trading now. 4. 6 as it begins trading in tokyo. The worst drop in 26 years. They are worried the pokemon go phenomena and will not be profitable enough. Stephenson. Read what is going on with the stock . The signs do seem to point to a further fall. Nintendo is valued at more than 100 times its earnings, net of forehead of its peers. That is far ahead of its peers. That is because of the doubling of share price because of the enthusiasm for pokemon go, which debuted two weeks ago in the u. S. The question from here on out is really, how can nintendo take this enthusiasm and proven hit it has to its other games . How far can ago in the smartphone era . If you think about it, theyre not a big player there yet. Is really to justify its current valuation right now. Is that what they need to focus on . What does the company have to do to keep shares propped up . If you think about it, for ,xample, super mario and zelda no one has played those characters or games using those characters on smartphones. Once nintendo decides to pull the trigger on that, we make it back to a situation where it is earning enough money to justify its valuation. The last time nintendo did that was in 2009, when it had two hits. Ii into the ds handheld. But now people want games on their mobile phones. Really they just have to fill in the missing pieces. Nintendo has promised five new titles by march or sometime next year. It is also coming out with a new console. It is not impossible, its just a matter of making sure that the business and ideas catch up to the actual valuation of the company. They were a little more aggressive before releasing the information. Thank you so much. Lets check with japan now. Were seeing softbank opening up in tokyo. Sprint, the struggling wireless carrier, posted its subscriber gains. Youve seen softbank shares of about 3. 5 . Are at a twoyear high on that news. And watch the stocks out of depends morning. We saw earnings come out in the last hour, and they missed estimate. The estimate was 454 billion. Let us get to the first four news. Thanks. Lets talk to you about the u. S. Politics. Dnc chair Debbie Wasserman schultz deciding not to appear after her resignation. Bernie sanders supporters ignored his pleas, interrupted in chance at the first mention of Hillary Clintons name. Sanders be slater along with michelle obama. Has promised economic growth, and hopes to hand over an economy much stronger than what he inherited. The stock market has jumped 12 since he was elected in may. China has ordered its major Internet Company to stop all original news reporting come up giving the government control over information online. They said that companies had searcy violated regulations, causing negative affect. Online users can now only kerry reports by government media. This is bloomberg. Just ahead, questioning abenomics. People are increasingly skeptical. We will hear more from state street mobile advisors. A quick check of the latest business flash headlines. The push to renew the International President presence of the yen may be getting a boost. Securities may be issued as soon as next month and would be the first from the lender. Cbc is also studying the possible possibility of bond issuance. Owns the vote of confidence in its move to privatize. The deal need some effect percent approval from shareholders. Singapores regulatory chief has found a strong action to repair reputational damage done by scandal. The Monetary Authority director says the city failed to meet its own standards after criticizing banks for not properly controlling money laundering. They will investigate trancelike transactions. Back to markets now. Dollar ledr commodities lower. My next guest remains cautious on equities. He is joining us now. It is great to have you. At thenteresting to look market now. Stocks and are getting into these risky asset third the second half is looking slow for Global Growth. What you make of this . I agree with that statement. We see Global Growth remaining week. Realizing the prediction, and we would agree with that, as well. One thing that we are looking at is how, the low yield, given the high valuation of equity, can move higher from now. Weve seen earnings have been on the outside, but the expectations were low. It willce is that remain quite weak, and we can see growth assets versus defense assets. Mostlyeems like you are focused on developing markets, as well. Is the u. S. More of a safe haven . It may be the better house in a bad neighborhood, or are we seeing growth there . The growth picture is a bit clearer innocence that expectation is around 2 of gdp growth. That is higher than what we see in other developed countries. What weve seen recently and what we are looking at coverlet carefully, is emerging markets. Is pectation that china we have an expectation of 6. 5 in the next three years. With that in mind, we can see the impact of brexit on europe and the struggling of a mix in japan, are pushing the market lower. Emerging markets might be more stable. You mentioned japan. The expectations are so high right now. It seems like everything they do my surprise or be on the downside. First, it was on strengthening the note after the brexit vote. It cnet taper off after that, seeing stronger u. S. Data. Is that enough . Yen . Weaken the end there is certainly a lot of volatility after this event. Being more the yen in a arranged balance. The we would expect more is typical stimulus, were expectations are at 10 trillion, and we are at 20 trillion command given expectations, in my be some of that is ari priced in the yen. A strong yen, given the volatility we are expecting, maybe a win for the japanese market. What you focusing on . We are focusing on income assets such as rates, high yield , and in gold. This is the position we had the beginning of the year and this is something we continue do you think gold has further to go . There has been a retrenchment over the last few weeks, but we are seeing a yield, where bonds were right. This is quite a shock. Nursing some volatility reverting. Thank you so much. Next, a getting market showing signs of stabilization. We will show you how that is reflected in las vegas earnings. That just ahead. Wall street has some key earnings reports to mall over. Well start with sprint. The stock here in tokyo rate reacting. We saw sprint store to a twoyear high, up a whopping 20 . This is after a report of subscriber gains. This is a turnaround plan after what has been a struggling wireless company. Wells fargo released a report saying that this is solid. We could see some scuffle by analysts to rework the ratings. A different story, a cut its Product Sales at nextel. Trying to retrieve some of those losses. Behind thestory report is that is concerning investors. Texas instruments, rising. Orders for chips used in the auto industry. This is another success story. Theyre the largest maker of analog chips. They had struggled to produce a profit, they are now back in the game in the First Quarter of Revenue Growth in a year. Thank you so much. That continue on more earnings now. Openings ining the hong kong. Us bring in our analysts. Sands performing quite well. Does that mean that the market has bottomed out . To interesting developments that came through on the Earnings Call today. First all the massmarket segment has stabilized. Particularly for june, it was interesting to know that it was growth for the first coming two years. Also have the fact that it has maintain profitability, it is still leading at 32 33 . We are looking at the overall it willmarket in macau, be interesting to see. The vfp market is volatile. Vip market is volatile. It could fall more. So some signs that we are seeing the turnaround materialized. Resorts, theew paris resort, how will this change the Competitive Landscape . The parisian is beautiful. Flagship, one of the beautiful, mustsee properties on the strip. It joins a cluster of china casino resort including the venetian and four seasons. That is all great and it brings traffic, but on the flip side, you have more competition. Your already thing hotel rates come down to two pressure. Over the next six months, with new resorts, you could potentially see Revenue Growth, which we are hoping for, but on the flip, you could potentially see a price for begin price war began. Is right next door to competition, literally. What about other markets. Singapore. It was a tough quarter for singapore. For the the ip market perspective, it fell 29 . When it comes down to the mass gaining revenue, it was one of the most difficult. It fell 9 . Thank you so much. Earnings at of las vegas sands. The Democratic Convention kicks off amid angry protest. We will be live in philadelphia next. This is bloomberg. Hey hows it going, hotcakes . Hotcakes. This place has hotcakes. So why arent they selling like hotcakes . With comcast Business Internet and wifi pro, they could be. Just add a customized message to your wifi pro splash page and youll reach your customers where their eyes are already on their devices. Order up. Its more than just wifi, it can help grow your business. You dont see that every day. Introducing wifi pro, wifi that helps grow your business. Comcast business. Built for business. Yvonne it is a 30 in singapore and half an hour away from opening there. You are watching daybreak asia. Yvonne now lets get to the first world news with david. David lets talk about the markets because this global stock pullback is extending into asia with oil trading near threemonth lows. This is ahead of the boj meeting, energy and natural leading the decline. Street cell phone last weeks record close with Energy Shares for obvious reasons. Has been everyone waiting for, verizon has confirmed it is buying yahoo web assets for 4. 83 billion and it includes yahoo real estate in some intellectual property in some states with alibaba and yahoo japan. The carrier will integrate yahoo web service with its aol division. Marissa mayer says she plans to stay on. Solar impulse ii has become the first aircraft to fly around the world powered only by the sun. The plane touched down in abu dhabi, 80 and have a 35,000 kilometer journey without burning a single drop of fossil fuel. Very, very impressive. Global news, 24 hours of a public powered by 2400 journalists in 120 countries. This is bloomberg. Yvonne thank you. The Democratic National convention has kicked off as the party grapples with the fallout of the email leak and well today it seems they are united together, the convention opened with protests from Bernie Sanders supporters. Lets go to our bloombergs politics reporter who joins us live from philadelphia. We were expecting a much more quieter much more quiet Democratic Convention but not the case now. Bernie sanders supporters seem to be ignoring his plea for unity. Reporter the theme tonight was supposed to be unity, but we heard loud cries from Bernie Sanders orders just ahead of the vermont socialist senators primetime speech where he will address the convention. They were chanting things like lock her up and at several points booed former chairwoman Debbie Wasserman schultz who was of course ousted and forced to resign earlier because of the leak emails that implicated her as well as other top senior aides within the dnc, seemingly suggesting that they were working with the Clinton Campaign during the primary process. Yvonne interesting to see some of his supporters and how they have responded. Bernie sanders himself has been quite muted about the fallout. It is interesting in itself. What of the reaction hazard and on the dnc chair was the resignation . Reporter we are hearing from the Clinton Campaigns top officials and they say this is only day one and this is still going to be unified party coming out of the convention. The bottom line, Bernie Sanders has a tough job to do in just under an hour when he will address the convention. He, a lot of pressure on him to unify the party, to unify his supporters, many of whom are disappointed with him endorsing Hillary Clinton because he, like donald trump came out against the Transpacific Partnership and Hillary Clinton has suggested she is more aligned with it. Not only is their disappointment with the dnc but also a key tenet of policy with the tpp issue. A lot of pressure riding on senator sanders to bring this party together. It is going to be a speech to watch. Yvonne for sure. Who are the big headline speakers today . I heard boys to men was performing earlier, which was a highlight. [laughter] reporter there was also demi lovato. She spoke at the dnc. There will also be first Lady Michelle obama, so she will also have her work cut out for her. Her is a little bit of a gaffe with a lining up from seemingly took lines from Michelle Obamas 2008 speech. We will have to see if there are any other comparisons there tonight. The political theater on full display in my hometown of philadelphia. Much, livenk you so from philadelphia. Lets go back to the markets. Investors in asia settling down ahead of the day centralbank meeting. Julia is an action for us. How is it looking in early trading . Juliette it is pretty much opposite of what we saw yesterday when we have that support, the selling coming through in the tech stocks. We are see selling and most of the outer sectors, particularly in Energy Spaces in that you are session following to the threemonth low. It is pretty flat on the cost be ,. 71 for a 3. 2 annualized gdp. We are seeing a lot of selling coming through the nikkei. They report that there could actually be a doubling of the stimulus when we finally hear from the boj about what that plan is going to be. The nikkei reporting it could be a ¥6 trillion plan. The concern is pressing the market that we will continue to see selling. Softbank shares doing well. You spoke of this earlier with the results coming through. We have seen reaction in japan up by 3. 6 . Leading the gains there on the nikkei. A lottralia, you can see of the Energy Players are coming under pressure and also a number of the materials jobs because we did see generally weakening motor prices across the board. In new zealand, a little bit of an uptick