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May 14, 2024
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we will hear from alibaba, tencent, sony. watching a possible buyback. sony might see revenue decline. a lot of game titles for playstation. here is what is moving on global markets at the moment. we will be speaking, a risk off day around the asia-pacific. we have india nudging into negative territory after a positive start. that is it for bloomberg. ♪ thanks to avalara, we can calculate sales tax automatically. avalarahhhhhh what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh so, what are you thinking? i'm thinking... (speaking to self) about our honeymoon. what about africa? safari? hot air balloon ride? swim with elephants? wait, can we afford a safari? great question. like everything, it takes a little planning. or, put the money towards a down-payment... ...on a ranch ...in montana ...with horses let's take a look at those scenarios. j.p. morgan wealth management has advisors in chase
we will hear from alibaba, tencent, sony. watching a possible buyback. sony might see revenue decline. a lot of game titles for playstation. here is what is moving on global markets at the moment. we will be speaking, a risk off day around the asia-pacific. we have india nudging into negative territory after a positive start. that is it for bloomberg. ♪ thanks to avalara, we can calculate sales tax automatically. avalarahhhhhh what if tax rates change? ahhhhhh filing sales tax returns?...
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May 13, 2024
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haidi: tell us what we are expecting for tencent. these two companies are major barometers for the broader economic recovery story. >> for tencent the growth is centered around wechat. we have a video feed and live shopping and games that will contribute to their advertising and game purchases. wechat has this program ecosystem that is a major part for revenue, so it is sort of like tencent's growth is too much, and at the same time tencent's main gaming business is not doing so great. these are years old, and executives told us less on the gaming revenue will be picking up from q2, that means in this past quarter. we will probably still see a sign of weakness in their bread-and-butter division. annabelle: tencent, alibaba, the first time we are seeing them reporting on the same day and a number of quarters. that was our tech reporter. we will have more ahead on "bloomberg daybreak: asia." this is bloomberg. ♪ annabelle: quick check on some of the results of our latest mliv survey, this taking a look at whether the yen is a safe ha
haidi: tell us what we are expecting for tencent. these two companies are major barometers for the broader economic recovery story. >> for tencent the growth is centered around wechat. we have a video feed and live shopping and games that will contribute to their advertising and game purchases. wechat has this program ecosystem that is a major part for revenue, so it is sort of like tencent's growth is too much, and at the same time tencent's main gaming business is not doing so great....
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May 15, 2024
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we had earnings coming out for alibaba and tencent and pretty mixed. how does that set us up for the session, of course noting that hong kong is shut for the public holiday? paul: we will get the full results and there is so much going on in chinese equities. it is very difficult to think it all through pre-for the earnings we had tencent, good. alibaba, not so good, although expectations were pretty lofty. nonetheless, it fell quite heavily. about 6% in u.s. trading overnight. as far as chinese tech is concerned, a little bit of pressure. plus we have the tariffs playing out across all those different sectors including renewable energy, battery makers. that might be where we start to see some pressure. chinese companies do not export a great deal to the u.s. so the imperative to all these sanctions will not be humongous at this point. nonetheless, there will be some concern about what it means for the individual companies. and what sort of response we will get from china. what is interesting is this idea that will date allow the u.n. to start weakenin
we had earnings coming out for alibaba and tencent and pretty mixed. how does that set us up for the session, of course noting that hong kong is shut for the public holiday? paul: we will get the full results and there is so much going on in chinese equities. it is very difficult to think it all through pre-for the earnings we had tencent, good. alibaba, not so good, although expectations were pretty lofty. nonetheless, it fell quite heavily. about 6% in u.s. trading overnight. as far as...
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May 13, 2024
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for tencent, doing business was the major concern. they were into client and they do not have blockbuster shares. revenue growth will decline because they are very aggressive in monetizing. we expect the business that rebounded year on year because they already changed monetization team after talking. they are going to introduce virtual item to increase and revive growth. for their second-tier game, monthly active users is over 500 million. that including the golden bachelor and crossfire, which we see this game growing at over 30% year in year. they have 20 approved game in the pipeline and upcoming game is dns mobile which has over 20 million pre-registered users. we expect this can contribute five to 10 billion revenue this year. overseas, shares reposition last year leading to a revenue decline, but this year at they are done with repositioning, so growth is more than double year on year. they have a new game coming out, it is called squat buster. size will be comparable to growth star. they will have delta force to be launching i
for tencent, doing business was the major concern. they were into client and they do not have blockbuster shares. revenue growth will decline because they are very aggressive in monetizing. we expect the business that rebounded year on year because they already changed monetization team after talking. they are going to introduce virtual item to increase and revive growth. for their second-tier game, monthly active users is over 500 million. that including the golden bachelor and crossfire,...
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May 14, 2024
05/24
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tencent and alibaba. let's start with tencent. to focus on this company is to focus on the financial services part of the company, particularly through we chat, but also gaming and advertising revenue. it is a gauge on the health of the chinese consumer. estimates are coming through in terms of revenue estimating profit of 45 billion yuan. it could be challenged again. we will be focusing on the gaming pipeline. we've seen an ease from regulators. that may come through as a benefit the financial services are advertising. this is a company facing some headwinds, the idea that woods's restructure, it changes to the top in terms of executives. in terms of the e-commerce business, a real touch point for the chinese consumer. it has the cloud division as well. look at those two areas. it may announce news around further consolidation around its core businesses. those of the previews in terms of estimates coming from alibaba. tencent and alibaba are essential in terms of the tech story coming through from china and asia. the main -- the
tencent and alibaba. let's start with tencent. to focus on this company is to focus on the financial services part of the company, particularly through we chat, but also gaming and advertising revenue. it is a gauge on the health of the chinese consumer. estimates are coming through in terms of revenue estimating profit of 45 billion yuan. it could be challenged again. we will be focusing on the gaming pipeline. we've seen an ease from regulators. that may come through as a benefit the...
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May 14, 2024
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tencent music reported earnings. that was significant for the company. that pushed the share prices higher. today, following on from the conglomerate, the q1 numbers coming out for the company and quarterly revenues beating expectations or beating previous numbers, i should say. 159 million for quarterly revenues for tencent. saying the profits coming in also much higher than previously at 41.88 billion remimbi. they stepped up the buyback plan. there were question marks over this continuing to be in play and purchasing over 100 billion of their shares in 2024. on track to repurchase that in this year. they stepped up the buyback plan, i should say, and on track to repurchase those. investing in a.i. technology and platform enhancements and high production value content. investing in a.i. a keep theme to come out in these numbers for tencent as they put out their quarterly profit numbers 41.9 billion is the quarterly profit figure. it is up 1% today. overall, we have been looking at the asian markets. it has been the hang seng tech index that we have bee
tencent music reported earnings. that was significant for the company. that pushed the share prices higher. today, following on from the conglomerate, the q1 numbers coming out for the company and quarterly revenues beating expectations or beating previous numbers, i should say. 159 million for quarterly revenues for tencent. saying the profits coming in also much higher than previously at 41.88 billion remimbi. they stepped up the buyback plan. there were question marks over this continuing to...
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May 14, 2024
05/24
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for tencent, it's already very rude. we mentioned the strong advertising momentum for the video streaming business. remember that the company is already deploying many of its recommended videos for users and has already been seeing the early signs of benefits. caroline: isabel, push us forward a bit, here. you are giving us the context of the consumer as well. jd.com coming later in the week. baidu, as well. are we getting any clarity on how resilient the chinese consumer is right now? >> i think we will. the chinese consumer is dealing with persistent use employment, the chinese economy slipping deeper into deflation, but it is a big month for chinese companies with baidu and others surprising on the upside for the last eight orders. this is kind of good news, meaning that the recovery is there, slowly but surely, and money managers are looking at china two ways. tucci, that's why they want to go in, or that it is too cheap for a reason. there are diverging views among them, but i think that this is going to be a big te
for tencent, it's already very rude. we mentioned the strong advertising momentum for the video streaming business. remember that the company is already deploying many of its recommended videos for users and has already been seeing the early signs of benefits. caroline: isabel, push us forward a bit, here. you are giving us the context of the consumer as well. jd.com coming later in the week. baidu, as well. are we getting any clarity on how resilient the chinese consumer is right now? >>...
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May 16, 2024
05/24
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what is your outlook for the coming quarters for tencent? cannot sustain this momentum? chelsey: -- paul: we will have to leave it there. thank you so much for joining us. you can find more on the story and all the days trading on her markets live blog on the bloomberg and you can get a market run down with one click. commentary and analysis from bloomberg's expert editors and find out what is affecting your business right now. ♪ paul: welcome back to bloomberg "markets: asia." you're watching the india focus. let's check in on the premarket session. chinese stocks in india might be set to stall as investors turned her focus back to china's fundamental problems. tell us more about why that rotation trade is fading. >> the net sentiment on china remains positive, but there are a few things from the long-term perspective. earnings were improving in the margin but that case is crumbling again. you can see what tencent and alibaba have delivered in terms of growth, not impressive. earnings estimates for india are going upwards. on valuation, that was a prime argument for s
what is your outlook for the coming quarters for tencent? cannot sustain this momentum? chelsey: -- paul: we will have to leave it there. thank you so much for joining us. you can find more on the story and all the days trading on her markets live blog on the bloomberg and you can get a market run down with one click. commentary and analysis from bloomberg's expert editors and find out what is affecting your business right now. ♪ paul: welcome back to bloomberg "markets: asia."...
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May 16, 2024
05/24
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we have alibaba and tencent talking about gains accelerating, gm coming back at alibaba and the fight back of the incumbents are leading to revision of topline or at least some expectations at the top line where we accelerate into the rest of the year. and then into this second quarter so far, as we look at the conference next week in hong kong, with 160 companies coming, we expect this to be the meeting around how the current economic and consumption trends are going, and we have seen them track ahead the past two months, part of growing around 20% to 30% year-over-year in the recent one or two months. that means consumers are buying still, cheaper things, the average ticket size is coming down but they are still buying, and that is on the front of expectations that will be key to the sustainability of how internet performs, and the internet rallied funny percent year-to-date, while shareholder return is the other thing highlighting, which is how they are buying back 5% and 9% of shares plus, buybacks, so this could provide downside potential while anticipating consumption into june
we have alibaba and tencent talking about gains accelerating, gm coming back at alibaba and the fight back of the incumbents are leading to revision of topline or at least some expectations at the top line where we accelerate into the rest of the year. and then into this second quarter so far, as we look at the conference next week in hong kong, with 160 companies coming, we expect this to be the meeting around how the current economic and consumption trends are going, and we have seen them...
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May 23, 2024
05/24
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we have tencent as one of our topics now. the more conducive regulatory environment towards the gaming space definitely should help tencent along as well. >> a lot would depend on the guidance and earnings. what do you anticipate the numbers to be in the coming quarters? >> if you look at macro concerns, obviously the market will be driven by what is going on with interest rates in the states. we expect the pc numbers which is what the fed will probably look at and that should start coming off in the third quarter and i think that should give more flexibility for the fed to cut perhaps it can, maybe 25 basis points in the third quarter were -- third quarter. probably base case right now. in terms of where china is headed, there is still a lot of excess inventory in the real estate space that needs to be absorbed so what the policies being introduced will help, we think china will grow so it is still decent on a relative basis compared to other large countries but overall there are still concerns with access capacity in certai
we have tencent as one of our topics now. the more conducive regulatory environment towards the gaming space definitely should help tencent along as well. >> a lot would depend on the guidance and earnings. what do you anticipate the numbers to be in the coming quarters? >> if you look at macro concerns, obviously the market will be driven by what is going on with interest rates in the states. we expect the pc numbers which is what the fed will probably look at and that should start...
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May 1, 2024
05/24
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it will now require internet companies like tencent and weibo to delete leaked information that are deemed to pose a threat to national security. those companies will now need to monitor what their users share, and cooperate with any government investigations led by the state secrets department. elsewhere, the european commission has opened a formal investigation into meta over concerns its platforms, facebook and instagram, are failing to counter disinformation online, ahead of eu elections injune. among the commission's concerns is meta's oversight of its advertising tools, and whether they had been exploited by quote "malicious actors." meta responded in a statement, saying the company has a well established process for identifying and mitigating risks on their platforms. before we go — the daily and sunday telegraph newspapers are back up for sale after an abu dhabi—backed bid back to colombia university in new york where police are making moves into the university to try and get students out of hamilton hall where they are protesting against israel's actions in gaza. you may be ab
it will now require internet companies like tencent and weibo to delete leaked information that are deemed to pose a threat to national security. those companies will now need to monitor what their users share, and cooperate with any government investigations led by the state secrets department. elsewhere, the european commission has opened a formal investigation into meta over concerns its platforms, facebook and instagram, are failing to counter disinformation online, ahead of eu elections...
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May 8, 2024
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this will be key to watch going into next week as we keep an eye on some of the earnings tencent, alibaba, baidu and jd.com. haslinda: morgan stanley says if you are chasing the tech rally in china, follow the themes, not the indexes. avril hong, thank you for that. the u.s. government is further tightening its export restrictions in chinese telecom giant huawei. we bring in our chief north asian correspondent stephen engle. what new action from d.c. are we talking about here? stephen: earlier you said tightening of the screws, that's a good way of putting it because these biden administration expert controls have been targeting a number of companies, but more precisely i guess you could say, huawei. we are hearing from sources that the biden administration has essentially revoked licenses allowing huawei to buy semiconductors from qualcomm and intel, affecting u.s. sales of chips used to give huawei phones and laptops. the u.s. commerce department has confirmed the withdrawal of certain licenses for exports to huawei but declined to offer specifics. pope what we do know is one congressma
this will be key to watch going into next week as we keep an eye on some of the earnings tencent, alibaba, baidu and jd.com. haslinda: morgan stanley says if you are chasing the tech rally in china, follow the themes, not the indexes. avril hong, thank you for that. the u.s. government is further tightening its export restrictions in chinese telecom giant huawei. we bring in our chief north asian correspondent stephen engle. what new action from d.c. are we talking about here? stephen: earlier...
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May 21, 2024
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we nibbledded at baidu and tencent because what china has is population are on it side. so some of that consumer a.i. ooh's going to move faster than what we see in the united states because they have, you know, 3, 4x more consumers. then when you add the fact that china a.i. is going to be sovereign a.i., so that means they're going to want it regional a, they're going to want it local, their -- they're not going to to work with united states a.i. companies, that combination means companies like baidu and tencent have an open runway in their own region. charles: all right. everyone's going to to be on pins and needs. beth, congratulations. you really were pounding to table on this when no one believed it. a few times they would have a hiccup and people ridiculed you and your work, but your on top of the world right now, and anyone that followed you is as well. speaking of being on temperature to have the world, that's where i am because liz claman is back. hayes liz charles, that was a good call! smci, nice move. breaking news as we kick off the final hour of trade, we
we nibbledded at baidu and tencent because what china has is population are on it side. so some of that consumer a.i. ooh's going to move faster than what we see in the united states because they have, you know, 3, 4x more consumers. then when you add the fact that china a.i. is going to be sovereign a.i., so that means they're going to want it regional a, they're going to want it local, their -- they're not going to to work with united states a.i. companies, that combination means companies...
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liz: send/10 right -- tencent year-to-date is up 23%. that is big tech conglomerate with gaming and all kinds of things in there. john, are there specific other names you feel have an opportunity to run even if xi xinping wakes up on the wrong side of the bed, says, yeah, i think i will make some new regulation about chinese online education stocks which he has done in the past? >> he has. i mean i think the reality is, you know, if you look at the chinese economy, i think they are beginning to grow more comfortable with the fact that they are going to have to work with business leaders. you know, jack ma, his chairman made a large personal investment in alibaba earlier this year. you're seeing similar types of moves from pony ma at tencent. i think management teams at these large companies are trying to communicate better with the chinese communist party that allows for some comfort that being said, liz, i do think investors should be diversified in the emerging market exposure. one other thing i would mention, you asked about other com
liz: send/10 right -- tencent year-to-date is up 23%. that is big tech conglomerate with gaming and all kinds of things in there. john, are there specific other names you feel have an opportunity to run even if xi xinping wakes up on the wrong side of the bed, says, yeah, i think i will make some new regulation about chinese online education stocks which he has done in the past? >> he has. i mean i think the reality is, you know, if you look at the chinese economy, i think they are...
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May 10, 2024
05/24
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companies like alibaba, jd, tencent and meituan are stepping up buybacks. all of these moves are raising hopes that the market here has reached a floor. melissa? >> eunice thank you. eunice yoon in beijing. >>> chinese ev maker zeekr debuting on the new york stock exchange exchange at $21 and surging 35% on the recession, the warm reception coming two years after the ride hailing giant adidi was forced to de-list from the new york stock exchange what a change in events here tim, i go to you, the ambassador. >> it is fascinating that we're seeing chinese ipos, and it is fascinating that they are in some of the leading edge technology sectors and these are companies that actually have the ability to bring the financials and the transparency into their business, at least they do now the fact is, after this ipo, a $6 billion market cap, the same size as lucent, and we are starting to hear, and the sure size of the market, there are growth names that people are coming back to for the first time it is fascinating. >> why are we seeing it? it begs the question, wh
companies like alibaba, jd, tencent and meituan are stepping up buybacks. all of these moves are raising hopes that the market here has reached a floor. melissa? >> eunice thank you. eunice yoon in beijing. >>> chinese ev maker zeekr debuting on the new york stock exchange exchange at $21 and surging 35% on the recession, the warm reception coming two years after the ride hailing giant adidi was forced to de-list from the new york stock exchange what a change in events here tim,...
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May 15, 2024
05/24
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tencent good, alibaba not so good. we will not learn the full impact until tomorrow's trading. when we are trying to discern what the impact of those sanctions announced by the u.s. yesterday will be for asian markets. we seen some of that showing up on a chinese manufacturing company, not huge moves and the sentiment seems to be while these numbers, the impact is small, midmorning we had news on the property, the idea local governments could buy back inventory, adding support as we headed into lunchtime, giving markets a lift. they had been lower, weighing on the complex. signs of coming back into the afternoon. everything else was positive. a two-year high feeding into the record. tom: bloomberg's editor for asian markets on key factors driving the region. thank you indeed. we look ahead indeed to inflation data indeed. jerome powell speaking in europe saying the central bank must wait for evidence inflation is cooling before cutting rates ahead of the cpi data later today. >> i do not think it is likely based on the data that we have that the next move would be a rate hike.
tencent good, alibaba not so good. we will not learn the full impact until tomorrow's trading. when we are trying to discern what the impact of those sanctions announced by the u.s. yesterday will be for asian markets. we seen some of that showing up on a chinese manufacturing company, not huge moves and the sentiment seems to be while these numbers, the impact is small, midmorning we had news on the property, the idea local governments could buy back inventory, adding support as we headed into...
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May 12, 2024
05/24
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alibaba and tencent could support growth according to estimates. bloomberg expecting better margins and megabanks could see it drop in profits. softbank will report trimmed losses as the vision fund returns. softbank one of the key ones. let's bring in our tech reported. causes for optimism? reporter: yes, paying recovery upon the level so after posting a big loss we expect losses for that to have narrowed. this is thanks to technology valuations which helped the fund recoup some losses and there was a significant one-time gain from t-mobile options. a recovery. haidi: what are the implications for softbank? >> they have been selling quite a bit of their assets, looking at u.s. listed assets. we see that the total value of those assets have been reduced by about 29 million. share price declines of impacted the value drop, but the vision fund has also been offloading shares in key assets like coupon, doordash and grab. we're seeing a shift in focus as more attention is paid to greater emphasis on ai technology and new strategic investments are being
alibaba and tencent could support growth according to estimates. bloomberg expecting better margins and megabanks could see it drop in profits. softbank will report trimmed losses as the vision fund returns. softbank one of the key ones. let's bring in our tech reported. causes for optimism? reporter: yes, paying recovery upon the level so after posting a big loss we expect losses for that to have narrowed. this is thanks to technology valuations which helped the fund recoup some losses and...
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May 13, 2024
05/24
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on the earnings front out of china, tencent and alibaba both report on wednesday. we will alert you if there's any sense that the consumer in china is starting to turn around. then you get euro area first quarter dup, a pitch on the health of the eurozone economy, as expectations remain that the ecb could cut in june. and russia's president vladimir putin beginning a two-day visit to china, interesting given that xi jinping was recently in france, and hungary and serbia. u.s. cpi data crossing, in fact, on wednesday, the inflation print out of the u.s. earnings, you will get walmart and siemens, and nato military chiefs will meet in brussels on friday after a weekend of activity in ukraine, with some gains for the russian military. china data, a data dump on friday, proxy prices, retail sales and industrial project released friday after that aggregate financing out of china contracted for the first time on record since 2005. the inflation data was also concerning out of the weekend. the data picture being rounded out of china on friday. stay with us. this is bloomb
on the earnings front out of china, tencent and alibaba both report on wednesday. we will alert you if there's any sense that the consumer in china is starting to turn around. then you get euro area first quarter dup, a pitch on the health of the eurozone economy, as expectations remain that the ecb could cut in june. and russia's president vladimir putin beginning a two-day visit to china, interesting given that xi jinping was recently in france, and hungary and serbia. u.s. cpi data crossing,...
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May 8, 2024
05/24
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annabelle: yes, we have seen toyota for instance pairing with china's tencent. nissan will team up with baidu what do you make of those partnerships? christopher: the big change in chinese evs, particularly since the pandemic, they are viewed less as cars permitted more as devices. being associated with these tech companies is, they need to import some of that technology and know-how into their cars, especially since technology doesn't flow freely over borders these days. you need to have one solution for china and one solution for everywhere else. annabelle: that was christopher richter, senior research analyst at clsa. thank you so much for your trading insights ahead of those very closely-taught japanese auto earnings. we will have "daybreak: asia." this is bloomberg. ♪ annabelle: a separately lackluster trading session so far for asian equities broadly but one of them is giving us something to talk about this morning, hd hyundai marvin solution. it is a ship-repair company. just started trading this morning. let's bring in philippe laffont's incredible res
annabelle: yes, we have seen toyota for instance pairing with china's tencent. nissan will team up with baidu what do you make of those partnerships? christopher: the big change in chinese evs, particularly since the pandemic, they are viewed less as cars permitted more as devices. being associated with these tech companies is, they need to import some of that technology and know-how into their cars, especially since technology doesn't flow freely over borders these days. you need to have one...
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May 3, 2024
05/24
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alibaba, tencent, may 2 on. the hung saying is on its longest winning streak since 2018. i will get to whether this has legs in just a bit. nikkei futures in singapore pointing to declines at the start of trade. markets returned from the long weekend. i think it has something to do with what we are seeing on dollar-yen. we started the week no thanks to a dovish boj. that's quite a recovery this week, helped along by those intervention expectations and speculation that we saw this week along with how the dollar slump. the recovery we are seeing on the yen's its best week against not just the dollar but the pound, the euro since december 2022. in the past 24 hours, the moves have been fairly steady. it doesn't smell like intervention. more likely, this is the trimming of positions. we came into this week with massive shorts. that was the mood on the markets. let's take a look at what we are seeing on the hong kong stock gauges. this chart will show you, they are well into overboard territory. i know it looks like a tie-dye shirt. the point is, it makes you wonder how much o
alibaba, tencent, may 2 on. the hung saying is on its longest winning streak since 2018. i will get to whether this has legs in just a bit. nikkei futures in singapore pointing to declines at the start of trade. markets returned from the long weekend. i think it has something to do with what we are seeing on dollar-yen. we started the week no thanks to a dovish boj. that's quite a recovery this week, helped along by those intervention expectations and speculation that we saw this week along...
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May 17, 2024
05/24
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terminal around process that houses much of the internet assets at and has a significant stake of china's tencent, which is the company behind many of the most popular gains in china. the pipeline for those gains, the we chat app. naming a new ceo, fabrizio is going to be the new ceo from july the first, replacing urban who has been at the helm since september of 2023. so change at the top there. urban stepping down. he has been held the ceo since september of last year and a new ceo taking charge. we will see how the stock reacts to that. start a change at 8:00 a.m. u.k. time. let's get to the geopolitics of china and russia. pledging to intensify corporation against what they call u.s. containment. the two countries agreed to greater coordination between militaries in opposition to washington's destructive and hostile course, speaking after he met with vladimir putin in beijing. president xi outlined his position on the war in ukraine. >> china and russia agreed that a political solution to the ukraine crisis is the right direction. china's stance on this is consistent and clear. tom: let's bri
terminal around process that houses much of the internet assets at and has a significant stake of china's tencent, which is the company behind many of the most popular gains in china. the pipeline for those gains, the we chat app. naming a new ceo, fabrizio is going to be the new ceo from july the first, replacing urban who has been at the helm since september of 2023. so change at the top there. urban stepping down. he has been held the ceo since september of last year and a new ceo taking...
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May 16, 2024
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hang seng, tech lifted by tencent after earnings beat alibaba left her a miss. jd.com and baidu also keeping an eye on that. the chinese developers really and focus today. a gauge of them in hong kong, jumping to the highest level since december last year after bloomberg reports that china is mulling a plan that could get local governments to buy unsold homes from distressed developers. this could help address some of the issues related to excess inventory as well as liquidity. we are seeing that gauge jumping today but you can see outliers, we are focusing on the japanese lenders and the automakers. for different reasons. japanese automakers down because of the strengthening yen. today, the banks, there is an addition of a boj rate hike but remember, that could be profitability issue if we don't get those boj rate hikes. let's take a look at why. we have the japanese gdp, deeper contraction than expected because consumers, companies cut their own spendings. economists flagged this may be temporary as well because we got the major automaker that cut back on outp
hang seng, tech lifted by tencent after earnings beat alibaba left her a miss. jd.com and baidu also keeping an eye on that. the chinese developers really and focus today. a gauge of them in hong kong, jumping to the highest level since december last year after bloomberg reports that china is mulling a plan that could get local governments to buy unsold homes from distressed developers. this could help address some of the issues related to excess inventory as well as liquidity. we are seeing...
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May 2, 2024
05/24
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we have the big ones, tencent, alibaba, show me -- show me. they report within two days of each other. given what we've seen from the u.s. tech companies and around the world, that will also be a positive for hong kong as well. if they see improvements, it will translate that as being positive for their own companies as well. certainly there's optimism that one first quarter results come through for the big hong kong tech companies, that will be another booster. it may well be to keep the good move going until we get there. than the real test will come on people see the hard numbers. if they genuinely beat, maybe the rally can continue. paul: mliv strategist mark cranfield will stick with us. . we will talk about the fed and bank of japan in just a moment. we do have plenty more to come, this is bloomberg. ♪ paul: we talked a little bit about that rally we saw on the hang seng. let's get back to our mliv strategist mark cranfield. seems like hong kong didn't really get the memo from the fed. it was a bit of a master class in how to say somet
we have the big ones, tencent, alibaba, show me -- show me. they report within two days of each other. given what we've seen from the u.s. tech companies and around the world, that will also be a positive for hong kong as well. if they see improvements, it will translate that as being positive for their own companies as well. certainly there's optimism that one first quarter results come through for the big hong kong tech companies, that will be another booster. it may well be to keep the good...
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May 8, 2024
05/24
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these scandals kind of throw a monkey wrench into these promises but toyota is partnering up with tencent for ai software and by doing so open to shorten that span as much as possible. annabelle: that is where i am curious about ev's in more detail. toyota is a company, and japanese automakers being perceived as being slow on ev's. do you think the recent steps in that space are going to be enough for toyota? nicholas: i guess that is the main question on the mind of not just toyota, but a bellwether for the rest of the japanese economy and major other automakers as well. toyota being the largest carmaker in the world is may be expected in some ways more than others to be quicker on this transition. but as you know, it is not known for that. easy goals have been dialed back in the last couple months. not least of all because of the scandals but also because of higher costs and hesitation on the part of customers who are worried about things like the cost of the car, battery range and whatnot. just in the last year speaking of toyota, toyota pulled forward a lot of new insight on the techn
these scandals kind of throw a monkey wrench into these promises but toyota is partnering up with tencent for ai software and by doing so open to shorten that span as much as possible. annabelle: that is where i am curious about ev's in more detail. toyota is a company, and japanese automakers being perceived as being slow on ev's. do you think the recent steps in that space are going to be enough for toyota? nicholas: i guess that is the main question on the mind of not just toyota, but a...
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May 15, 2024
05/24
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again, very mindful that we will continue to see the company coming from competition with tencent, alibaba, and while way -- and huawei, so we will see if they have anything new and exciting to update the market on later tonight. annabelle: you mentioned jd.com and the competition with alibaba. alibaba is trying to get back its market share, and jd.com has tried to fend that off with lots of measures like free delivery and return. is that going to work? what are the options? do they have to continue to try to push back on the pressure? catherine: we have seen some signs of that coming through. one of the entities which does speedy delivery and china, they have decided that there was a doubling of on-demand orders of jd.com in april, so slight positive signs. these moves and these orders could have come on the back of costlier investments from jd.com . in fact, we have seen them lower the bar for free deliveries to be done in 2024, so let's see how it actually impacts their profits tonight. haidi: senior analyst for the asia-pacific consumer, catherine lim. some other corporate stories we a
again, very mindful that we will continue to see the company coming from competition with tencent, alibaba, and while way -- and huawei, so we will see if they have anything new and exciting to update the market on later tonight. annabelle: you mentioned jd.com and the competition with alibaba. alibaba is trying to get back its market share, and jd.com has tried to fend that off with lots of measures like free delivery and return. is that going to work? what are the options? do they have to...
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May 21, 2024
05/24
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we have a keep an eye on was happening with tencent because there has been pressure, there has been a big new game, a blockbuster game everyone has been waiting for. within an hour, they had to put the game on ice because the servers were overloaded. dungeons and fighter mobile has everyone clearly excited but some server fluctuations have hurt in the interim. analysts say this will not be a long-term impact. this is "bloomberg technology." ♪ when you automate sales tax with avalara, you don't have to worry about things like changing tax rates, exemption certificates or filing returns. avalarahhh ahhh ahhh ahhh caroline: let's talk about this rally in cryptocurrencies. it is underway amid signs of a momentum for approval of another spot etf but this time linked to eth. joining us is james from bloomberg intelligence. up 23% the last couple of days. we are used to volatility but what of the tea leaves you are reading this? james: we've had these filings for months now since the fall even peter nothing over the last couple of months signified there was any sort of approval. if you tal
we have a keep an eye on was happening with tencent because there has been pressure, there has been a big new game, a blockbuster game everyone has been waiting for. within an hour, they had to put the game on ice because the servers were overloaded. dungeons and fighter mobile has everyone clearly excited but some server fluctuations have hurt in the interim. analysts say this will not be a long-term impact. this is "bloomberg technology." ♪ when you automate sales tax with...
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May 13, 2024
05/24
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asia's earnings, that spotlight will shift to china's internet giant, alibaba in tencent. they could report single-digit revenue growth. this is according to analyst estimates. bloomberg intelligence is expecting slower first quarter added growth for baidu and better margins for jd.com. we will hear from japan's megabanks. they could see a jump in their annual profits. on monday, softbank will probably report trimmed losses as its vision funds returned to profit. let's stay on tech. and superpowers led by the u.s. and the european union, funneled nearly $81 billion into producing the next generation of semiconductors. this escalates the global showdown with china for trip supremacy. the u.s. industrial policy reporter mackenzie hawkins has more on today's big take. mckenzie, truly enormous amounts of money being spent here. can you give us a sense of the scale of the spending and how it is being deployed? mackenzie: we have governments from washington to brussels, to tokyo and seoul, pouring billions and billions of dollars into semiconductor production. this is because th
asia's earnings, that spotlight will shift to china's internet giant, alibaba in tencent. they could report single-digit revenue growth. this is according to analyst estimates. bloomberg intelligence is expecting slower first quarter added growth for baidu and better margins for jd.com. we will hear from japan's megabanks. they could see a jump in their annual profits. on monday, softbank will probably report trimmed losses as its vision funds returned to profit. let's stay on tech. and...
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May 29, 2024
05/24
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a quick check on shares of tencent, u.s. adrs we bring those up. wednesday's trade overnight in asia down 2.4%. interesting data about marquee sales prayed not as strong a summit hoped. this is bloomberg technology. ♪ what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh should i? normally i'd hold. but... taking the gains is smart here, right? feel more confident with stock ratings from j.p. morgan analysts in the chase app. when you've got a decision to make... the answer is j.p. morgan wealth management. hi, i'm jason and i've lost 202 pounds on golo. so the first time i ever seen a golo advertisement, i said, "yeah, whatever. there's no way this works like this." and threw it to the side. a couple weeks later, i seen it again after getting not so pleasant news from my physician. i was 424 pounds, and my doctor was recommending weight loss surgery. to avoid the surgery, i had to make
a quick check on shares of tencent, u.s. adrs we bring those up. wednesday's trade overnight in asia down 2.4%. interesting data about marquee sales prayed not as strong a summit hoped. this is bloomberg technology. ♪ what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh should i? normally i'd hold. but... taking the gains is smart...
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May 3, 2024
05/24
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a lot of those gains being driven by alibaba and tencent. sentiment on tech also driven by apple. its supplier shares gaining in asia as the maker projects a return to growth in the third quarter. bond traders bracing for a key u.s. jobs report on friday, seeking new clues on whether the fed has room for even a single rate cut this year. let's check in with avril hong in singapore. what are you watching? avril: even before the asian session started. apple coming through, lifting the move further. asia stocks running higher today. leading the gains, the hong kong stocks, we also see the tech rich gauges of south korea and taiwan recovering. nikkei futures in singapore pointing to declines after the long weekend and this is after the yen recovers against the greenback. a lot of it is the dollar story as the dollar is coming through softer today after already yesterday seeing its steepest drop since december. but we are also sing that recovery in the renminbi, offshore yen, they are moving towards the 7.19 handle. this recovery could help take some pressure off the pboc when it fixes
a lot of those gains being driven by alibaba and tencent. sentiment on tech also driven by apple. its supplier shares gaining in asia as the maker projects a return to growth in the third quarter. bond traders bracing for a key u.s. jobs report on friday, seeking new clues on whether the fed has room for even a single rate cut this year. let's check in with avril hong in singapore. what are you watching? avril: even before the asian session started. apple coming through, lifting the move...
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May 3, 2024
05/24
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allocation and what different things mean to each of us and to some people it's not worth allocating the tencents to a fudge pop and we need to find a way to meet everybody's ice cream needs but also find a way to balance the budget so -- >> great. thank you. >> yeah, i heard that too and that example helps you realize you can convince people and get them on your side by speaking to values that are shared and common. crsacrifice, those really what - who would disagree with that basically. it's a good -- it's how you can start with framing the choice between you, your candidate and your opponent and you start at the upper right corner with the them on us. so what would they say about us what would they call us, what would they call us communists or socialists or, you know, crazy orst liberal or whatever, right, like what was -- you want to be truthful. i think the best thing for this exercise is it really go for the gutter and go for don't be shy, be very honest like sincerely put yourselves in the shoes and understand how they're thinking and what they're saying. i mean, you can pull direct quote
allocation and what different things mean to each of us and to some people it's not worth allocating the tencents to a fudge pop and we need to find a way to meet everybody's ice cream needs but also find a way to balance the budget so -- >> great. thank you. >> yeah, i heard that too and that example helps you realize you can convince people and get them on your side by speaking to values that are shared and common. crsacrifice, those really what - who would disagree with that...
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May 13, 2024
05/24
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and so, my view is that -- tencent, they announced 43% growth, especially in the segment, the music segment, their online music segment, which is 115 million users so, there are companies that are continuing to grow, and i just think that the discount that's been put on not only chinese equities, but you know, we're talking about china, but let's be clear, global equities as a whole have outperformed u.s. equities for a long time it's outperformed the u.s. since the summer of 2023 i think china is very interesting. i think it's priced to be interesting. and that's going to win out. >> so, i think tim is correct on the digital names, the kweb, i think they're going to be really focused on the chinese consumer, right? so, they're not exporting here but i would worry about u.s. multinationals giga shanghai exports a lot of cars outside china they could be slapped with tariffs. i think it was on the q-4 call, when elon musk mentioned that if we don't have aggressive on tariffs chinese evs, they're going to take over the world and i think about that, i say, okay, well, careful what you wish for
and so, my view is that -- tencent, they announced 43% growth, especially in the segment, the music segment, their online music segment, which is 115 million users so, there are companies that are continuing to grow, and i just think that the discount that's been put on not only chinese equities, but you know, we're talking about china, but let's be clear, global equities as a whole have outperformed u.s. equities for a long time it's outperformed the u.s. since the summer of 2023 i think china...
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May 8, 2024
05/24
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beat on the big three, revenue, adjusted eps, adjusted income next tuesday morning we have alibaba and tencent reporting. next thursday we have jd.com and badu all we're saying is china's economy is slowly improving as we saw with q1 gdp >> right >> as well as you're seeing the fundamentals of the underlying companies. we just think investors are underallocated if this rally gets some continued legs >> my trillion-dollar question for you because you follow this much more closely than i do you think something fundamental has changed where the leadership is going to allow or even encourage, for instance, those once former tech high flyers to rebound and really be able to see some lift-off again? >> yeah, i mean, china's economy, we do, kelly, because china's economy needs domestic consumption. that export-driven manufacturing in china's been quite strong, driven by demand from the u.s., asia and europe. at the same time they need a rise in domestic consumption and that's where the companies within kweb are the transmission engines for domestic consumption online you can't kill the companies that
beat on the big three, revenue, adjusted eps, adjusted income next tuesday morning we have alibaba and tencent reporting. next thursday we have jd.com and badu all we're saying is china's economy is slowly improving as we saw with q1 gdp >> right >> as well as you're seeing the fundamentals of the underlying companies. we just think investors are underallocated if this rally gets some continued legs >> my trillion-dollar question for you because you follow this much more...
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May 16, 2024
05/24
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names like alibaba and tencent soaring. will tensions between the u.s. and china derail their run? we'll debate it. >>> and later, beverly hills billions. mortgage rates may be high and the consumer may be under pressure, but megadeals are still happening. the ultra high-end real estate market. we'll be joined on-set by mauricio umansky for the latest read on how much the uber wealthy are buying. i'm melissa lee, coming to you live from studio b at the nasdaq. on the desk tonight -- tim seymour, dan nathan, and guy adami. the dow climbing over 40,000 for the first time ever today. the feat coming less than four years after it first hit the 30,000 mark, but the index pulling back mid-day and ending up slightly in the red. one big winner in the dow, walmart, which notched its best day in four years, after earnings this morning. the retailer citing significant e-commerce gains and growing business from higher income consumers. former walmart u.s. ceo bill simon is using the b-word. bubble. he will join us to explain. we wanted first to get the thoughts here on the desk. given where we
names like alibaba and tencent soaring. will tensions between the u.s. and china derail their run? we'll debate it. >>> and later, beverly hills billions. mortgage rates may be high and the consumer may be under pressure, but megadeals are still happening. the ultra high-end real estate market. we'll be joined on-set by mauricio umansky for the latest read on how much the uber wealthy are buying. i'm melissa lee, coming to you live from studio b at the nasdaq. on the desk tonight --...
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May 21, 2024
05/24
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companies, that combination means companies like baidu and tencent have an open runway in their own region. charles: all right. everyone's going to to be on pins and needs. beth, congratulations. you really were pounding to table on this when no one believed it. a few times they would have a hiccup and people ridiculed you and your work, but your on top of the world right now, and anyone that followed you is as well. speaking of being on temperature to have the world, that's where i am because liz claman is back. hayes liz charles, that was a good call! smci, nice move. breaking news as we kick off the final hour of trade, we are looking at one of the close e races to a fresh s&p record. all the s&p needs to mark a new if high is a tiny fraction, .02 points to the upside. right now we're up 5.75, so we're there. now, yesterday it missed it by a nano-inch. right now we do have it in there, so you've got to stay tuned the whole hour. -- hour. the rest of the markets in the green, mostly. the russell is the laggard, down about 5 points and after yesterday's nearly 2000 above -- 200-point drop
companies, that combination means companies like baidu and tencent have an open runway in their own region. charles: all right. everyone's going to to be on pins and needs. beth, congratulations. you really were pounding to table on this when no one believed it. a few times they would have a hiccup and people ridiculed you and your work, but your on top of the world right now, and anyone that followed you is as well. speaking of being on temperature to have the world, that's where i am because...
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May 1, 2024
05/24
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the earnings the guidance update they gave, the guidance increase is based on a reconciling item of tencents that gets you there. all and all, i think a lot of moving parts, i think the street wants to see a lot of these deals get integrated and performance getting better but for now, as a cost cutting exercise in part and then the dividend yield i think is intriguing at 6%, but with rates at 5, tough to get too excited about it. >> okay. finally, let's talk johnson & johnson. they have a plan out today to try to deal with the talc litigation, the last of the ovarian cancer they have proposal to put back almost $6.5 billion, $6.475 billion to deal with that. they want to put it to the claimants still to be shown if they can do that if they can get the claimants to vote off on that, they think this will resolve major issues what is your thoughts? >> totally agree this would be a huge win for j&j if they can get this done and settled at that amount it is the biggest overhang on the stock, tough to discuss the company or the stock at all without bringing this issue up for at least a couple of y
the earnings the guidance update they gave, the guidance increase is based on a reconciling item of tencents that gets you there. all and all, i think a lot of moving parts, i think the street wants to see a lot of these deals get integrated and performance getting better but for now, as a cost cutting exercise in part and then the dividend yield i think is intriguing at 6%, but with rates at 5, tough to get too excited about it. >> okay. finally, let's talk johnson & johnson. they...