Bloomberg Daybreak: Asia Edition

Business and finance news from the Asia-Pacific.
Crude oil surged above $100 a barrel for the first time since 2022 due to escalating hostilities in the Middle East and worsening strains on oil shipping, sending stocks and Treasuries lower. Brent climbed 18% to around $109 a barrel, adding to last week's 28% surge. Traders are braced for further upheaval with the Iran conflict entering a second week, major producers curbing output and traffic through the crucial Strait of Hormuz effectively halted. For more on how this affects the markets, we spoke to Paul Dobson, Executive Editor for Asia Markets.
Plus - what does the oil surge mean for the economies in the Asia Pacific? We heard from Qian Wang, Vanguard Group Chief APAC Economist. She spoke to Bloomberg TV hosts, Haidi Stroud-Watts and Avril Hong.
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Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.
In the US – a look ahead to U.S CPI data, along with a focus on 3 stocks for the week ahead.
In the UK – a look ahead to Paris nuclear talks.
In Asia – a look ahead to legislative elections in Vietnam.
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Business and finance news from the Asia-Pacific.
The US-Israeli offensive against Iran has rattled energy markets, driving crude oil to multi-year highs on fears that disruptions in the Strait of Hormuz may choke supplies and reignite inflation. That came as equity investors confront stretched valuations after an artificial intelligence-fueled rally pushed stocks to elevated levels. We spoke to Winnie Wu, Head of APAC Equity Strategy at Bank of America Global Research.
Plus - Goldman Sachs Natural Gas Research Head Samantha Dart says a scenario where Brent crude prices cross the 100 dollar threshold as "possible" if the Strait of Hormuz were to experience several weeks of interrupted oil flow. She spoke to Bloomberg's Haidi Stroud-Watts and Avril Hong.
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Business and finance news from the Asia-Pacific.
Asian equities rebounded, with South Korea leading gains after its worst rout on record, as sentiment showed signs of a recovery following an initial bout of volatility sparked by the Middle East conflict. In China, they set a growth target of 4.5% to 5%, its most modest in more than three decades, in a shift towards more sustainable growth drivers. For more, we turn to Lianting Tu, Bloomberg's Managing Editor for Asia Equities.
Plus - Goldman Sachs Group Chief Executive Officer David Solomon said he's watching the private credit market for 'frothiness,' though he hasn't seen anything that gives him significant cause for concern. Speaking on the sidelines of the firm's inaugural 'Australia Week,' Solomon exclusively told Bloomberg that markets' 'benign' reaction reflects cautious stance on figuring out the endgame. He also shared his 'glass half full' outlook on the prospects for artificial intelligence.
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Business and finance news from the Asia-Pacific.
The US-Israeli attack on Iran has destabilized the Middle East and threatens to deliver a new inflationary shock to the US economy by pushing up oil prices. There's also no clear sense of when or how it will end, raising the prospect of prolonged conflict and unforeseen consequences beyond the White House's control. Focus is on oil amid fresh attacks which flared in the Middle East as traders weighed a US plan to insure and escort tankers passing through the Strait of Hormuz, with traffic in the vital waterway all but halted. For more perspective, we spoke to Rob Haworth, Senior Investment Strategy Director, U.S. Bank Asset Management Group.
Plus - South Korean stocks are experiencing significant declines amid heightened geopolitical tensions. Risk-off sentiment driven by the Iran war has been the primary catalyst for the selloff, with concerns about higher energy prices threatening growth in South Korea, the world's eighth-largest oil consumer. We heard from Kerry Craig, JPMorgan Asset Management Global Market Strategist. He spoke to Bloomberg TV Hosts Haidi Stroud-Watts and Avril Hong.
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