shenzhen, china, is a city that borders hong kong to the south.or to our trip, i remember sitting on my parents' couch a watching tv. and my mom says, "david, i need to tell you something." the tone of her voice brought chills down to my spine. i'm, like, "mom, what?" "david, i want to go back to shenzhen, china, for two weeks "and revisit the place i was born, "and reunite with an older sister i've never met before. "i'm scared and i don't want to go alone, and i want you to come along with me, okay?" shocked and excited, "mom, how come you never told me you had an older sister before? why?" she takes a deep breath, followed by a long awkward pause, and i feel this nervous tone in her voice. "david, you know i had a hard life. "my mom died when i was a baby, "and my dad and stepmohad an opportunity "to bring us to hong kong for a better life. "unfortunately, we couldn't bring my older sister along, and we h to abandon her-- so sad." after my mom told me that, i could not believe the weight of guilt she's been carrying all these years until that d

the primary listing would allow it to join the stock connect program hong kong has with shenzhen andvestor base, it would allow investors to invest in alibaba rather than going through the primary listing. good news for mainland investors who want to get into the story. the backdrop for all of this is the uncertainty towards u.s. shares. those shares like 250 other chinese companies listed in the united states are under a bit of uncertainty because of the sec push to get chinese company to supply the audit reports. that is unresolved at the diplomatic level between china in the united states, there has been rumors of some deals but if there is a cloud of uncertainty. potentially, i am not saying it will be due listed, it does not preclude or mean alibaba -- it's interesting in the fact alibaba could potentially be forced to the list from the new york exchange. haidi: it's interesting timing from a lot of different angles. we know chinese equity markets, the outlook is murky. this coming home listing suggests at least good tool listing will be quite a popular shift for a lot of chines

as to when and how -- or when and where, really, the next lockdown is going to be just this week shenzhen, a home base for another fox con factory mandated 100 big companies would have to operate in a closed-loop system fox con said that won't have a big impact on its business, but at the same time, there's always this uncertainty, carl, about what and when these lockdowns are going to affect overall business it really weighs on people's mind the mandate in shenzhen is supposed to end this weekend will it? nobody really knows. >> it is amazing, eunice i would say every time we wake up on this side of the planet, we look for headlines on how lockdowns or lack of lockdowns are progressing where you are. thank you. eunice yoon in bay eijing chris, you mention supply chain shortages are getting a little better iphone pretty resilient. the macro affecting services of those three areas and dynamics, what's the most important? >> carl, thanks for having me. two things i would mention, number one is clearly iphone is the biggest driver for revenues. so, that has been really resilient despite all

it has everything to do with what's going on in shenzhen in china. that's going to be crucial.end of the day the question is about allocation. stocks versus bonds. that's going to be a key theme. tom: andrew sheets telling us earlier 60/40 still has some life to it. here's what we are watching. for the next 24 hours. today it's the first head-to-head debate televised as well between rishi sunak and liz truss in the u.k. conservative party leadership. getting very heated indeed. alix: i'm very much looking forward to that. tomorrow the fed meeting begins. also the earnings come out. alphabet, microsoft. that's it for me anton. thank you for doing triple duty with me today. coming up on balance of power, the president on the council of foreign relations will be joining david westin. we will preview that debate between liz truss and sumac -- rishi sunak. this is bloomberg. ♪ announcer: from the world of politics to the world of business, this is balance of power with david westin. david: from bloomberg world headquarters in new york to our television and radio audiences worldwide,

. >> 11:29 in hong kong and over in shanghai and shenzhen.s getting off his lunch break here. this is great of also session generally speaking for these benchmarks. we also have a moment to serve. they will also cease financial stability at the moment with regards to monetary policy. that is the reason. let's have a look at these high inflation prints we have been getting. we have had the philippines and south korea and also thailand. what have we got? >> those inflation readings, they do help to show those inflation bids. we do see oil staying pretty buoyant, holding above 110 for west texas intermediate but what about these indexes? we are seeing them outpacing the gains. what is driving that is a supply-side issue. signs we are seeing now that it will remain tied -- tight until the end of the year. we are just checking as well the other sectors that are dragging on the index this morning. that is if you bring up the board now, it is the consumer staples. these ones typically perform better in terms of recession rather than what we see for

, but they are higher this morning but only slightly here begin i do not know what these chinese shenzhen is -- it is a composite. you take it away. manus: let's go back, i think you are right, what you have is a narrative. the bond market is repricing. on the short end of the market, the fairytale of the recession was the alpha of the bond market is no more, it is about the fed doing more. let's look at the two year government bond yields, along with the aussie dollar moving along this narrative that you have potentially a rollback on some of the tariffs. we will get back to the market boards in a moment. dani: let's jump to those reporters around the world. in hong kong we are covering the tariff story. juliette saly will discuss the rba back to back 50 basis point hikes. dani: we will talk about uniper 's possible bailout. the team is assembled. u.s. president joe biden is close to announcing a rollback of the trump era tariffs on chinese goods. sources say he may make that decision as soon as this week. we have been getting kite flying on this subject, how real and relevant is this? h

there was a lot of bad news in shenzhen with the stock down the daily limit after an investor's wife online about how the stock is overvalued. there is a lot of questions here . i guess this is a bad time like when you are seeing recession risks and bodies are falling out of bed as well. >> talk to me about the taiex. >> there are a lot of questions about what this stabilization fund is, is it going to work in stabilizing these markets after what we sow with chip stocks? you have growth stocks on the back of this whole central bank scenario. does that mean we will see a bottom in taiwan? not quiet sure. >> getting back to lithium. and the executive director. david will be asking the tough questions. david: absolutely. we were just talking about the stock right there. we are coming up pretty low. we are joined right now by the ceo of the company. congratulations on the ipo. you could have raised more money. why only 1.7? >> there is a share issue in the market. these times we regulate herself at 10%. >> 1.7. most of that goes into debt servicing? >> yes. the rest goes to several proje

money that could travel from china after they become possibly included and connect with shanghai and shenzhen. the u.s. and china decoupling risks are a trend ongoing. the ppo has not hammered out a deal so that is $2 trillion worth of companies that could face delisting risk. tom: thank you very much. alibaba seeking a primary listing in hong kong. shares up 6% for the e-commerce giant. staying with tech, a number of u.s. companies like the market reaction with juliette saly in singapore. juliette: as you mentioned, it is optimism that you would see access boosting the light of alibaba and the hang seng, helping give impetus to markets that were under -- otherwise in a holding pattern ahead of the fed. gaining around a third of 1% on the pacific index. this could lead to less reliance on u.s. adrs and give a boon to tech players that have been under pressure due to the year-long crackdown. today's move, a significant upside. china stock rising despite some moves in terms of covid infections rising and that is called -- causing concern about the output of factories that closed. volumes on the

listing in hong kong they can access some of the funding coming down from the north with stock connect shenzhen. it will increase hong kong's financial status in the long run, giving some political brownie points as well. overall this will be a bigger trend in the future as the delisting threats rages on. >> if this becomes a trend, we see more of homecoming listings, i wonder, does hong kong have the liquidity to absorb the comeback of adrs? >> that has always been the concern. so far people are mostly interested in the bigger companies, alibaba, and the likes of bytedance that has yet to be listed, these of the popstar lineups for the tech companies. as this does become a bigger trend the question is legit. look at alibaba trading volume coming hong kong 700 million, in the u.s. it is $3 billion. >> we say this is an end of a chapter for alibaba? as the concerns that have hanging over the stock with the regulatory risks coming to an end? >> many people have said it is too early and we have bottomed out, right now what is giving people hope is that the fines have dropped for dede. whether the

shanghai and shenzhen stepping back hang seng and hong kong with the down turn and escaping with meager gains the nikkei 225, seema, extending recent wins. we see a win for the taiwan wei weighted we have a key inflation report from south korea pulling the trigger on a 50 basis point rate hike. the third consecutive rate hike by the officials in sydney the second time consecutively. the governor saying they might not be done because this is the time to rein in inflation. and inflation is surging 6% today. that is the highest since the asian financial crisis of 1998 this sets the stage for the bank's policy decision tomorrow. look at how currencies are re reacting today the australian dollar is softens against the greenback. markets are pricing in the rate hike that was expected in australia and south korean won is weakens to the levels not seen since 2008. seema. >> thank you, jp now to early trade in europe julianna has more on that from london good to see you. >> seema, good morning european equities have been selling off this morning red across the board the cac 40 in france down 1.1

talking about cutting or limiting production capacity as they deal with yet another covid outbreak in shenzhenlot of the technology production is based. what they are doing is perhaps enforcing a closed-loop system. that is where a lot of these chipped devices that have those productions in that area falling under that pressure. we will end here with a story on commodities because there is a correlation that plays out. gas prices as you start to see them come down, the stock market comes up and it is too early to say whether this is really a kind of close correlation but is something you want to watch as we talk about inflation and whether or not inflation has peaked. tom: particular at a day when dutch gas prices have elevated about 9%, on the back of that plan by gazprom. let's get back to the central bank world. jay powell and his colleagues are specked to approve another 75 basis point interest rate hike this week and they are likely to signal their intent to move higher in the months ahead. joining us now is the u.s. -- thank you for joining us. let's start with the question of the day wh

. >> south shenzhen.it disappointing for you to spend so much time there is a reported to see hong kong going this direction? >> it is. i remember on the night of the handover itself talking to people i was covering it in the entertainment district. talking to hong kong people. they felt they had been let down. the people felt their voices were not being heard. on that level, it is a disappointment. >> thank you very much for coming in. >> a few one conference on protecting the world's oceans has come to a close and the portuguese capital, lisbon. some 7000 delegates including heads of state, scientists, and ngo's joined the five day summit. but many have called the conference a missed opportunity. to take more ambitious steps. they criticized the commitments made by states, saying the are purely voluary initiatives proposed, not up to the scale of the challenge. a ban on single use plastics is coming to force in india today, part of a government plan to reduce pollution. india is the world's second bigge

shery: morning star is cutting hundreds of jobs and shenzhen. ceo said the move was necessary due to an increasingly complex business environment. the company said the rules will be moved to other countries and is chinese operators will focus solely on the domestic market. their shift is one of the biggest yet among american financial firms operating in china. china security regulators has suspended betting and onshore fund distribution application by goldman sachs. global banks have rushed into mainland expansion, but regulatory hurdles are one factor slowing them down. credit suisse has added a similar -- has had a similar application put on hold. it is not clear if firms can renew applications in the future. haidi: let's take a look at the moves we saw in the u.s. dollar, cooling a little bit after we saw that red-hot inflation print from the u.s. as well as these concerns, or speculation we could get a full percentage point move from the fed. we also had the euro dropping to dollar parity in a meaningful way for the first time in two decades

so one of the churches had was suffered so much from shenzhen, one of the supposedly most open city nextng kong. a congregation of 60 members with the 32 children, 28 adults had to escape to jeju island, south korea two years ago. and unfortunately, the south korean government, because of the their refugee asylum system and also presumably a fear of china's retribution, had been repeatedly deny their asylum. i know on friday, the lantos commission held a hearing on examining the south koreans asylum policy. but my question is we -- to president biden's credit, he has raised the quota for refugee resettlement, like double three times and partially the quota also goes to the asia, east asia and south asia. but it's very disappointing to see even the new york times reported that in the last fiscal year, even with the quota was already allocated, not a single one refugee seeker from china was being recognized, was being resettled into the united states of america, including not a single uighur was recognized as refugees overseas and resettled to the us. so with this 60 members, and we have i

sell bonds and by volatility, the risks to china's recovery including the new closed-loop system in shenzheneak: asia. market coverage continues. standby for bloomberg markets china open. this is bloomberg. ♪ - [announcer] imagine having fuller, thicker, more voluminous hair instantly. all it takes is just one session at hairclub. introducing xtrands. xtrands adds hundreds or even thousands of hair strands to your existing hair at the root. they're personalized to match your own natural hair color and texture, so they'll blend right in for a natural, effortless look. call in the next five minutes and when you buy 500 strands, you get 500 strands free. call right now. (upbeat music) >> we wouldn't be there if they were really doing well. clearly t

markets coverage continues as we look ahead to the start of trading in hong kong, shanghai and shenzhens bloomberg. ♪ psst. girl. you can do better. ok. wow. i'm right here. and you can do better, too. at least with your big name wireless carrier. with xfinity mobile, you can get unlimited for $30 per month on the nation's most reliable 5g network. they can even save you hundreds a year on your wireless bill, over t-mobile, at&t and verizon. wow. i can do better. yes, you can. i can do better, too. break free from the big three and switch to xfinity mobile. vo: when times get dark, we can't see the help that's all around us. let 2-1-1 be your guiding light. for help with food, health care, and other resources. operator: 2-1-1, how can i help you? vo: call 211 or visit 211.org 2-1-1 get connected. get help.

beijing, shenzhen were able to work more quickly and they were able to get it under control.ng to keep an eye on. david: michelle, one community case in shanghai after 5:00 p.m. sunday outside of quarantine. do i need to be concerned? >> what that means is there is still virus circulating in shanghai. that is not something that would be surprising in the entire world. the difference in china is they are trying to get to zero. the idea there could be someone infected in the community who could expose other people, and that person got it from somewhere, they do not know where it is, it is a worrisome thing. they are doing massive testing there, you would have to expect they would pick up those cases quickly. what you would be afraid of is that there will be additional restrictions in your neighborhood or friend's neighborhood or at work as opposed to going back to never shut down in shanghai. david: michelle cortez there. just ahead, we are staying in china but evening to high yields, another chinese firm selling, the debt ridden real estate sector. goldman sachs largely avoidi

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morningstar cutting hundreds of jobs in shenzhen. was necessary talking about a complex business environment. the company said the roles will be moved to other countries and its chinese operations will focus solely on the domestic rk. morningstar shift is one of the biggest yet among american financial firms operating in china. china securities regulator has the onshore fund distribution application by goldman sachs. they are rushing in a mainland expansion is reglet tory hurdles of one factor is slowing them down. credit suisse has had a similar application put on hold. haidi: some of the stocks we are watching with the markets open. this is what's on the radar. the chipmaker is expected to report earnings today and is projected to jump and we will watch for that heavy way in all of the implications that those number. the shanghai listed with a stake in china's top chipmaker during its $9 billion bailout. they have felt control of the local government agency, which would see revised plans for a spinoff of subsidiary. this is bloombe