hello welcome to business asia berlin good to have you with us now then trading on china's new nasdaq style stock exchange got off to a stick tacuba. a dream start for china's new stock market some $25.00 companies began trading on the new nasdaq style tech board in shanghai with one logging a 400 percent advance what china expert clifford coonan tells us more about that. also coming up germany's economy minister says brussels could scrap duties on key u.s. industrial exports to avoid a war of tariffs between the e.u. and the u.s. . a welcome to the business asia berlin good to have you with us now then trading on china's new nasdaq style stock exchange got off to a stick tacuba start today share prices soaring one company angy microelectronics technology jumped by more than 400 percent a so-called stock market is part of china's attempt to assert itself as

a global tech leader $25.00 companies from i.t. and other sectors listed on the new tech board which is operated by the shanghai stock exchange china has the world's 2nd biggest equity market behind the u.s. but it's been criticized for high levels of speculative activity and a lack of governance. lots to talk about and i'm happy to have a reporter cliff it couldn't here with me in the studio who knows china and was taking a closer look at this new take a market and mazing launch to the stock market what explains of success on day one well it's only 2015 that we there were billions lost and investors really took a pasting back in china so what we're seeing now is a very significant event in that way and it's only it's basically growth is thin on the ground right now so be very looking for places to put their money and i think

when you think that since donald trump came to power 90 percent of direct investment from china into the u.s. has gone so this money is looking for a home and i think that the stock market is very much the home is going looking for well today a lot of money found a home that is how sustainable is this is just going on for 4 months to come or was this like a one day off i think we've had a couple of these things before but this seems to be the most significant of them paying the president himself has backed as he was the one who ordered that it could be brought about that's very significant also the quality of the companies are that are in there are there not may not be so well known outside of sort of china but they are the big big chinese firms supplying to companies many of the big companies during my career like tronics artificial intelligence all these different areas well let's let's talk about the stock market itself i mean is also cold a new nasty shock style take market as opposed to old nasty is this is this beijing in times of

a us trying to trade while trying to to build an anti poach to the almighty wall street i think you can never get away from the truck trade war right now which when u.s. and china i think definitely is meant to be some kind of a counterbalance the chinese version and we've seen a lot of. developments recently we just had the fortune $500.00 for example that will be coming out and out of the showing that the chinese. companies have taken on they're taking on their counterparts now there's $129.00 chinese companies when you include mainland chinese on taiwan and 3 of the top 5 are chinese so it's it's going to be wal-mart is still in there and u.s. isn't going anywhere yet but we're definitely seeing a new sort of counterbalance coming with this new market all right so chinese companies are going strong certainly. but who speak hind it you said that a lot of money was pulled out a lot of chinese investment was pulled out of the united states as soon as trump came into sadly when this trade war started to brew so we're just talking about

chinese investors who are the international investors european americans as well involved for the moment it's just chinese investors and there are specifically chosen that they have a couple of about 65000 euros and there's there's a about 4000000 of them involved today i would use a small percentage of the 100000000 investors in the stock market in china but they want this to be a sustainable model and so they're looking very much at sort of key investors and further down the road it's possible that foreign companies might for as a foreign investors might be interested in getting into china through investment vehicles like the pension funds. that might happen but for the moment it's very much a chinese game i mean china also has a close the the famous hong kong stock exchange is the stock market going to be in addition to it to a we're looking at a kind of substitute now whistle all the turmoil going on there this is a big question i think with what's going on in hong kong at the moment very

cautious chinese investors very happy about this new market in shanghai and there's a lot of rivalry between shanghai and hong kong anyway so the turmoil hong kong won't be helping at the same time hong kong still has a lot to offer for international investors and you know there are fears of capital flight it still has transparency it's it has international connectivity which you don't necessarily get with shanghai all right cliff it can and they are what china expert reporter thank you so much for your insights. u.s. president donna trump has repeatedly threatened to head to europe where it hurts by introducing a 25 percent levy on its car exports to the u.s. germany's economy minister peter my has suggested the e.u. could be willing to take extraordinary action to prevent that from happening he says the european union is open to the idea of scrapping the terrorists on american cars entering the continent altogether. the us president says europe's carmakers have been living the high life for too long with their products able to as he puts

it freely poor into the u.s. while american motors face big tariffs is he right. well it's true that a small european car will be charged a 2.5 percent levy on entering the u.s. but the other way around the tariff is much higher 10 percent however it gets a bit more complicated with bigger vehicles s.u.v.s and pickup trucks from the you get charged a 25 percent tariff when they reach the u.s. whereas america's famous fords and cadillacs benefits from a lower charge of just 10 percent. now german economy minister pater seen here on a recent trip to silicon valley says the you could be willing to do away with it tariffs on american cars completely the aim would be to put all claims the current arrangement is unfair to bed and president trumps threatens 25 percent tariffs on its cars something the europe's biggest car exporter germany is particularly keen

to avoid. and for more i'm joined by our brussels correspondent bandleader it good to have you with us found so germany's economy minister wants to scrap tariffs on the u.s. exports what's the rest of the you have to say that that. european union is actually fine with that because this is a rather proposal already a year ago this is the amount of sort of the you commissioner for trade that made this proposal and it's kind of part of a men date that she has to negotiate on behalf of all 28 e.u. members with the u.s. so this is nothing new here in brussels and although i also said he's speaking in good terms with the on behalf of the you but the question is of course will the u.s. accept that because it's not in the interest of the united states so far but it's interesting because reducing terrorists you know isn't that what donald trump always wanted and now europe just hands it to him but i don't think donald trump

actually runs 0 terrorist because for him terror of his only and most effective political and also economic tool he loves terror if he says over and over again and he wants this terrorist to achieve other aim so no interest to actually script this terrorist he's not following any it can only economic logic so what signal would you say. just suddenly that the kind of strategy that the u.s. following here sent to the world especially to beijing right now. the message to china would be be vigilant because this tariff dispute is likely not only to affect german and european comic as it's very important for china because many of the car parts may ca's sitting in china delivering to european and american car makers and if there's a tear of dispute on cars between the u.s. and europe it would effect the world and also china and the whole supply chain so

it's very dangerous everything's intertwined we can only hope that there will be a solution for everybody all right and we get a reporting for us from brussels thank you so much. now they're finally safe stop for that to greek island vacation you might want to safe a little bit more at least if you're going to mykonos the popular island seeing a surge in prices to match a search and tourists authorities are alarmed could greed soon keep holiday makers away. making nose is known for its turquoise blue waters glittering beaches and blitz white buildings but lately ters say prices here are out of control. the price gouging stems from the government leasing of beaches to businesses who then set their own prices in fact 80 percent of the beaches on meeka notes are privately run at one beach the cheapest bottle of wine will cost you 170 year olds and

a bottle of water will set you back 10 euro. i think that would be too bad barry may see them. a bit like i leave for. photos of job dropping restaurant bills have spread across social media one man posted a check for $591.00 euro's for 6 pieces of calum ari authorities on the island have closed to several restaurants as a reaction to similar posts we call we go all over the mayor goals to come see. police sometimes to let tourists know where to go and not go if somebody is not good with tourists the greek travel and tourism sector grew almost 7 percent last year authorities are hoping to keep that industry growing by keeping tourists and businesses happy. have you ever wished that you could work from home well for workers in the japanese capital that wish has become

a reality in preparation for the upcoming olympics the government of tokyo aims to ease overcrowding before the 2020 games. stay home that is the message from tokyo authorities to local workers the city is introducing a number of measures ahead of the 2020 summer olympic games in a bid to reduce urban congestion in addition we are also promoting libya's campaign for the games these are a series of measures aimed at establishing new working styles including telework staggered working and just transportation management to reduce and distribute to affix. japan's workers on average spend more hours in the office than any other country in the world a plus for productivity but a major problem for vehicle and pedestrian traffic corporate convention has already followed suit

a number of tokyo based companies have begun to implement their own teleworking schemes requiring some of their employees to spend certain days out of the office. and this is business asia here anti w. for be in the team and thanks for keeping us company.

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this is g w news live from berlin and britain is poised to punish iran for seizing one of its oil tankers after friday seizure of the stand in hero on the strait of hormuz u.k. leaders could shortly announce fresh sanctions against iran we'll go live to london bridge leaders have been holding crisis talks also coming up another weekend of anti-government protests in hong kong ends in violence police fire tear gas rubber bullets to disperse thousands of demonstrate.