versus alibaba, its main rival it comes to the e-commerce sector.much greater and faster revenue growth when it comes to baba vs. jd. do you have a preference for either stock? chelsey: i think right now for ry fairlynk jd is ve valued. using a very long-term perspective. i think it has shown a lot of strength, especially amid covid. growthst quarter revenue .as really strong i think it has largely played out. i think it is still a good stock in the long run. i think there will be margin extensions. right now i prefer alibaba which in our view is undervalued. they had somesly hiccups during covid. i think they have already recovered to the december level. and we continue to see the promotion in the 618 shopping sector. alibaba'sviously with huge ecosystem, they will definitely catch up and they are really strong in new products, like a platform for launching new products. i think it is an indispensable platform. valuationow based on we prefer alibaba. -- andjune 18 at 6:00, a 618, shopping extravaganza. how are they expected to reform? and will we s

such asallow stocks alibaba to be included in the index.o high-profile tech offerings with more in the pipeline. haidi: let's get over to tom mackenzie, watching this from beijing. how have expectations been at the start of trading? >> absolutely. this is a company hoping to raise billions with this listing selling millions of shares. has been heavily oversubscribed by both institutional and retail investors and they are selling to both of those. as he said, the listing will start in hong kong at 9:30 a.m. but we are here in beijing where they will be doing a virtual ipo work event to mark the ipo. means -- the pandemic means it's difficult for many executives to travel to hong kong. they're very confident there will be enough demand to compel the share price upwards. , you canne very well see they're up more than 70% and they have done pretty well despite the pandemic or because of the pandemic, as they are more of a utility company than a tech company. they have been delivering goods to people across the country since it started in februa

alibaba in china has impeccable financials after the 4% run i'm telling you alibaba's quarter isn't reflected in the stock especially after another chinese play reported spectacular revenue growth by alibaba. as encouraging as china might be, it's europe i find really surprising it's been a dog day since we've heard anything good out of europe now the european central bank and german chancellor angela merkel are out doing each other. the germans are always worried about inflation. right now i think they're looking at us and they're more worried about unrest if they don't spend a fortune to get the economy moving again we have become what everyone wants to avoid >>> before the e.u.'s economy of 800 million people used to matter, can you imagine if it actually took off? can you imagine? you should because it has, which is one reason why we suddenly have a weaker dollar so many of our companies have had to adjust their numbers down over the years because the dollar has been too strong now that u.s. interest rates are as low as europe's, our country is no longer being flooded with european money

that is masayoshi son and alibaba. we have tencent as well.'s get the first word headlines. democrats are scaling back their national convention in august, telling delegates to stay away from the gathering in milwaukee because of the coronavirus. that is in stark contrast to president trump's campaign, who moved the campaign to circumnavigate social distancing rules. it is unclear how many people will witness joe biden accept the democratic nomination. julian assange is facing more legal action with the justice department accusing him of conspiring with hackers linked to cyberattacks around the world . the new indictment says he worked with groups affiliated with anonymous, giving it targets in 2012. assange is detained in the u.k. while fighting and extradition request from washington. covid-19 cases spiked again in tokyo. the workplace is now seen as the focus. authorities reported 55 new infections, the most in a single day sense -- day since may 5. the pandemic printed the imf to warn it sees the japanese economy shrinking more this year c

that we saw that in alibaba and the coming of jd.com.he hong kongat said jane has been really looking at -- looking to increase the variety and also to increase the efficiency. the market had just finished the consultations regarding the listings. that allows hong kong to put in terms of listing regulations with the u.s. in terms of andacting stock traders company holders. and hong kong stock change now has come -- consultations that have begin the mechanisms. listing kong has a above people us five. but the ipo's, for example, alibaba, have been stopping us. but they are putting in part the pricing in the listings and a day. this is a potential discussion. the market we will see from the overwhelming welcome because it's what investors are looking for to mitigate the risk. with hong kong becoming increasingly a battleground within the u.s., it as well as in china, do you see hong kong becoming a financial hub for china as opposed to an international financial hub? therd: hong kong has been most deferred office listing for chinese compan

we have seen alibaba and jd.com. today also, china's biggest online shopping extravaganza, a big test to see if there will be pent-up demand in the whole china consumption story. will it be enough to make up for a dismal couple of months? walk.bring in can -- ken wong. we are seeing shares up on 3% or so. would you change the stock? >> for retail investors it was overly subscribe to greet are getting a retail push. we would be more careful now given where valuations are. earlier this year january and february jd.com was around 28 times earnings. now you look at sort of 2021 earnings, valuations are now sort of much higher. given where the sectors are, msci china discretionary around four times forward pe. you have to be careful. chinese investors still can't get their hands on some of these chinese secondary listings as well in hong kong. could that limit the upside? >> it can. with more and more adr companies coming back for secondary listings, that could pave the way for the opening of some of these stocks for stoc

. >> you are buying more alibaba, you're buying more xpo which you've been in and out of a lot over the last couple years it seems. you bought taiwan semi >> yes so taiwan semi is part of an play it's also, of course, the 5g play it's one i didn't own and have been waiting for it. it's underperformed even though it's not down by any means i put a position, a small position, relative to my other semi positions in terms of xpo, look, i could be wrong on value. xpr regards value. their business is strong relative to what it was at the depths of the virus impact and i think it's a quality asset management said we were a seller of assets up higher and now we're an toounistic buyer. i like that strategy you're able to move around in terms of alibaba, if you recall i sold the stock around 219 on the plans for the congress to come out and say you've got to offer this clarity into your audits if you don't we're going to delist you that delisting is three years away in the meantime china keeps injecting and alibaba said we will let you see our audits. i went back into it, about 205 or 206 at june

corporations worldwide tech firms apple microsoft alphabet amazon facebook the chinese e-commerce group alibaba and tencent which owns. the market dominance seems unshakeable except for apple and microsoft all these companies have been around for less than 25 years in just a short time they've become the biggest players in the world market and their main resources i intended they include user data and algorithms. but we dream only change anything if we broke up logic operations but then wouldn't you play is just take over the market and we'd be back where we stop it is a platform isn't a lot or merely these platforms are markets but since they're part of our digital infrastructure the classical market mechanisms no longer apply. these platforms should be treated as a public service and be a freely available infrastructure. because the india. should facebook and google be nationalized and should digital infrastructure be freely available just like roads and rails without private corporations raking in a drain just profits would digital capitalism have to make way for digital communism. i'd say w

would the road of a baidu, tencent and alibaba not be the will they have an impact on what is happeningen china and the u.s.? mark: i would say not necessarily small stocks, but medium-sized companies in china that have a global footprint. remember, a lot of these companies are not only in china, world.e in all over the even if they have a disadvantage in china, they have all kinds of advantages in other parts of the world. that is the kind of company we at.looking remember, companies like alibaba and tencent, these are global whatnies and regardless of happens, they will continue to do well globally. they have been extending their footprint on a global scale. so it will be very interesting to see how some of them adjust, how they have already adjusted to the u.s. restrictions. i think going forward they will be able to do so. alix: now it seems like the narrative is developing on whether or not the national guard is needed in new york city. president trump is saying they should call it in. mayor de blasio says the national guard is not trained to unrest.vil , they don't want or need th

creates investment is to an alibaba of india or a tencent of india.mpany has the potential to make that possible. manoj, there are likely to be other companies ,hat will be likely to follow but tell me, what are the biggest dangers of the regulation looking ahead? we found that in the tele-communication sector with taxes. is that one of the biggest roadblocks do you think for people to invest in india? because we just don't know what happens down the line as the country has in the past shop itself in the foot? >> correct, correct. investment is less about the telecommunications infrastructure, but more into the digital services and the future digital economy. the telecommunications is the foundation on which they are building the next generation of services. yes, you are right. telecoms was responsible for this huge pricing pressure that resulted in so much pressure on the operators and their ability to pay taxes. i believe we are at the tail end of being able to resolve this and move ahead. ahead, vodafone still has some challenges in paying the past

. >> caller: my question is with the upcoming stocks in july, is all alibaba a buy? >> the chinese, we have disputes but there are companies in china doing very well with american style financials and alibaba is one. >> caller: i have a question for you. >> sure. >> caller: hey, jim, i'm a first-time caller, i'm 17 and i just got started about a month ago. >> okay. i've been interested in self-driving technology. what are your thoughts on yndx >> look, you're 17 and i'm not going to discourage anything that you want to do okay because i need you to learn. so i'm going to say that's fine. i have other ideas, i have them in my travel trust but a 17-year-old who is interested and done homework on that is okay with me let's go to joel in florida, joel >> caller: boo-yah jim. >> boo-yah, joel. >> caller: first-time caller big fan. i'm wondering your thoughts on caterpillar. >> caterpillar needs a very fast -- it needs an infrastructure bill and acceleration of our economy. it's very well run now it's not going to be like the old days back to 60/70 but i wish there was mor

and others tiktok platforms from alibaba, baidu and tencent. india says it's because of unauthorized storage of user data. this follows a border standoff that left dozens of soldiers dead or injured in recent days. global news 24 hours a day on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. i'm karina mitchell. this is bloomberg. yvonne: thank you. still ahead, a closer look at the chinese economy. we have the pmi numbers beating across the board when it comes to manufacturing, nonmanufacturing and sub-indices. we will talk through the numbers. and of course, hong kong's economic future looking increasingly at risk. tom: also, as advertisers had for the exits, facebook defends its policies on hate speech. we hear from the company's vp for public affairs and britain's former deputy prime minister. this is bloomberg. ♪ ♪ tom: back to our top stories this morning, the u.s. is revoking some trade benefits to hong kong, making it harder to export technology to the city. this comes am

recent report by ecommerce giant alibaba said there was an 8 fold increase in february from a month earlierg the businesses capitalizingng on the trend is this clothing manufacturer who buililt a specialized studio in february. shin used to manage one of its shops but has since become the drdriving force behind the initiative. part of the strtrategy is not jt show casingg the clothes but alo acting as a stylist for potential customers. >> translator: if you want to be more stylish, you can wear the clothes like this. and if you wear it over a t-shirt, it will look totally different. >> shinseis she once sold more than $170,000 worth of merchandise in a single broadcast. >> translator: some fans are waiting for me every day. it's hard work, but this is what keeps me going. >> reporter: the company plans to increase the number of casters to 20 and provide additional training to sales and office staff. >> translator: our company wouldn't h have been able to survive if we didn't start live streaming. it would also help us expand our business. >> reporter: in a matter of months, the coronavirus

softbank still keeps 25% stake in alibaba.n criticized after several of the company's investments in wework and uber soured. taking a look at softbank shares, up nearly 15% this year, unchanged in the premarket. finally, here's a look at what's trending on foxbusiness.com. the extra $600 a week in unemployment benefits for out-of-work americans is set to expire at the end of july, as the coronavirus pandemic is still triggering layoffs. california plans to ask a state court judge to force uber and lyft to classify drivers as employees rather than contractors. gmc has filed for bankruptcy with plans to close 800 to 1200 stores and possibly will put themselves up for sale, maria. those are your headlines from the newsroom. back to you. maria: all right, cheryl, thank you. fears of a second coronavirus wave driving markets lower this morning and certainly yesterday. the dow futures down 176 points, nasdaq down 11, s&p down 16. this comes as investors brace for a handful of economic data out this morning, due out in about an hour

softbank founder son ended his shareholder meeting by announcing he is stepping down from the alibabaould not be interpreted as a disagreement, even though jack ma is quitting softbank at the same time. son says the decisions were perfectly amicable. that is your bloomberg business flash. anna? now: back to corporate news and wirecard's stock may have collapsed, but that does not mean all the shortselling is making money. shares have tumbled 88% since the company said nearly 2 billion euros have gone missing last week. the drama continues and so did the bearish trades, but is it getting more expensive? dani burger is here to explain. .ani: it is hard to be a bear even for a company like wirecard. bloomberg spoke to john henson of brontË capital, where he said his wirecard short was one of the biggest losing positions he has had. that is because he was not wrong, he was just early. he took the position in 2010 and you can see how painful that would have been in the ramp up to 2017 and 2018. even if you have come around to this bearish thesis more rapidly , your timing has to be impecca

world and the market was closed thursday for a holiday and slipped into negative territory friday alibaba shares contributed to that slip dropping nearly 3 percent in japan the nikkei is also up for the week gaining more than one percent on friday softbank group contributed to the big gains there with shares raising more than 3 percent the topics index also gained just shy of one percent on friday alone let's check in in india where the sensex ended slightly up on the week the index extended gains for its 4th week 2 of the best performers on the sensex were infosys and bank infosys alone surged 7 percent on the week meanwhile the a.s.x. in australia is down just over half a percent for the week after thursday's sharp losses the index gained 1.5 percent on friday adding $26000000000.00 in the final. still not enough to rebound from thursday's losses and bring the index back into the positive territory the all shares in south africa is just slightly down on the week on wednesday the south african finance minister said the main budget deficit would widen to a record 14.6 percent of g.d.p. in

alibaba and -- both signed up to take up more space in times square. move follows the secondary listing in hong kong at next week's debut from jd.com. pastor at inside -- toyota as the most viable carmaker in the world with a market cap of $190 billion. it is still some way away. a rally of 10% from here. tesla shares have already jumped 23% since the beginning of this month thanks to rising demand from china. the bank of japan provided trillions of yen to domestic lenders to offset the coronavirus fallout. backre bankers willing to deeper negative rates if needed? kathleen hays is here with both sides of the story. not really surprising given how long these banks have been squeezed with these negative rates, especially regional banks that cannot even go abroad? >> i want to applaud our tokyo weaker team for talking to senior bank officials and really digging deep into this. of course, we can understand that basic point. it is a crisis. maybe the boj will have to do more, push that barely negative key rate of them a bit more negative. you guys have rec

that is why we saw alibaba coming home last year.s to come over to hong kong by way of listing. andre seeing netease jd.com. the possible changes the nasdaq would lay a big part as well. it would make it harder for chinese companies to list. some of them which are already listed may be at risk of being delisted. i think that is why for some of the giants are some of the -- some of the -- or currently listed companies may start thinking about a backup listing, whether that may be beneficial to them. the hong kong stock exchange or the shanghai stock exchange and venues in singapore, taiwan, they may be able to benefit from this as well. areas ineen growth this space. >> really appreciate your time. ong joining us. plenty more to come. ♪ re to come. ♪ >> before we handed over to "the china open," we are seeing some downside after the fed gave no new measures when it comes to their monetary stimulus plans and in fact a more dire assessment of the economy. one stock we will be watching when it makes its debut will be netease. these lines

it meets alibaba as asia's most valuable company. that is your bloomberg business flash.: thank you indeed. asres in bayer jumping today the company announced it has resolved litigation over roundup weed killer. the phone tow on discuss this is tim lowe, who covers bayer for bloomberg. is the market reaction and the stocks up by 6% today a reflection of this being a lower number than the market was anticipating or simply relief that it is finally happening, that these cases are being settled? >> i would say it's more of the latter. the numbers have been out there in our reporting and elsewhere for a number of months. this is kind of the neighborhood that we are zooming in on. risk that itl the spills over that number. that has been holding investors back is every time there is a new story saying progress is being made, progress is being made, people want to see it happen. is more evidence that we are getting close to the finish line on this story. alix: where that money be used for every case ever out there, or is there a possibility that more cases are going to crop up,

leon in new jersey >> caller: hi to my children my question is alibaba >> that's the only chinese stock i am recommending. >> caller: talk to me about dxc. >> i will talk to you about it that's all i have to say that's because my grandmother said if you don't have anything nice to say, don't say it. sandy in new york. >> caller: long-term holder of cardinal health stock and i wonder what your opinion is. >> i love george barrett tough business, low margins. i would rather see you in a pharmaceutical company made a nice comeback, but not long-term. and it's the group by the way. brian in california? >> caller: wanted to shout out i have been watching you for eight years. i am looking to hold -- thank you so much for everything i have a for the polio i am looki -- portfolio i am looking to hold for about two years. i have exxon >> i think you have to go with chevron. i don't personally like any fossil fuels, but i like them and diamondback and parsley. lindsey in new york. >> caller: astrazeneca >> they have made so many good things going i do like them roberta in arizona >> caller: thank

rival alibaba hopes that 618 has unleashed pent-up consumer demand and signals china's recovery is wellnderway. jd says sales were up more than 30% on a year ago and has surpassed 2019's total by midafternoon thursday. seeking reported to be a bankruptcy loan after its plans for a half-alien dollars --re or sell half-billion-dollar share sell was abandoned. german payment provider whycard has suspended its outgoing coo after auditors said they could not find billions of dollars in cash. it's one of the worst german stocks lobs in history. mourns loans up to $2 billion could be terminated. ♪ you doing okay? yeah. this moving thing never gets any easier. well, xfinity makes moving super easy. i can transfer my internet and tv service in about a minute. wow, that is easy. almost as easy as having those guys help you move. we are those guys. that's you? the truck adds 10 pounds. in the arms. -okay... transfer your service online in a few easy steps. now that's simple, easy, awesome. transfer your service in minutes, making moving with xfinity a breeze. visit xfinity.com/moving today. austra

[indiscernible] , that isok at alibaba a focus area.nt will remain a little bit more resistant or not be affected as much as the core businesses. there are segments they are trying to make sure will not be -- in other countries. companies could be concerned if other countries start doing something similar. shery: great having you with us. ahead, our exclusive interview with new zealand's finance minister about the government's fiscal stimulus plans. that is coming up. ♪ ♪ new zealand's finance minister says he's keeping options on the table when it comes to further fiscal stimulus but so-called helicopter money is not in immediate plans. earlier, he told us that the country's road to economic recovery is also unlikely to include the return of foreign students this year. >> i think again, it will take time. the strategic advantages. in time, there will be a strategic advantage for new zealand and pursuing international education, but setting up the processes of that , growinge confidence capacity for quarantine and we have absolute confi

governor huckabee what about that if you are alibaba do not follow u.s.s you've got three years to decide if you are going to actually follow them that is a long time to be listed gaining capital listed on exchanges in order to just follow the rules. >> i think that is incredibly about charitable to give three years frankly i want some u.s. companies to love their own country as much as they love china, look i get it there is a lot of money to be made but if money to be made chain is making some of it if in china's best interest to play by rules they will if it isn't they are not willing to play by rules to heck with them i know that would cause some upheaval in the market we need that kind of upheaval so everybody plays by the same rules, ands lives under the law. if you don't why even have laws? why ask u.s. companies, to live under very strike resiliency you don't ask other companies and their companies to live by. >> true good point a lot of reaction to this story, let's take a break then final thoughts from all-star panel. stay with us. back in a min

what that could mean, you can see companies like alibaba, baidu, also delist from u.s. stock exchanges if this comes to pass. emily: all of this coming against the backdrop of a pandemic. president trump explained china for the coronavirus, from his handling of the coronavirus. similar accusations coming out of beijing against the united states. outcould all of this play in an election year for president trump? samm: if you are trump looking have election year and you 100,000 u.s. lives, plus an economy back to levels not seen since the great depression, what do you do? you blame china. particularly in swing states, purple states, the trump administration is really relying on the health of the economy to be a boon, to get over at the margins to win this election. now, you have to blame china. this catastrophe is on your hands. sacks of new america, thank you so much. for more as we prepare protests, potentially violent protests here the united states, we will be speaking with a u.s. congressman of new york coming up. ♪ emily: welcome back to "bloomberg technology." a he

it had been amc and alibaba. notable for what tom said.y've been left out of the rebound of the stock market driven by millennials to a lesser extent. another thing i would note is we look at the top 10 traded stocks march 23 to monday those include names like united, tesla, amd. those stocks had advanced to 137% on average going into this week yesterday those stocks combined down an average of 30%. those stocks are up early. going forward, they could be the right call going long term >> importance of retail investor that does it for "worldwide exchange." "squawk box" picks up the coverage next. that calms you, helps you fall asleep faster and stay asleep longer great sleep comes naturally with sleep3. only from nature's bounty. can i find an investment firm with a truly long-term view that's been through multiple market cycles for over 85 years? with capital group, i can. talk to your financial professional or consultant for investment risks and information. talk to your financial professional or consultant bbut what if you couldg do bett

chain will have 400 locations open by mid-july >>> alibaba and jd.com record $136 billion in sales.ng closely watched as a baro meter of the chinese consumer. dow is up triple digits. gained a couple of more pounds. that's good for the babies. between the moments that make us who we are, and keeping them safe, private and secure, there's webex. ♪ ♪ beautiful. it combines powerful vacuum suction and spray mopping. to lock away debris and absorb wet messes. all in one disposable pad. for a complete clean, vacuum, spray mop, and toss, in one click. the shark vacmop, a complete clean all in one pad. (drum beats) that go out today get delivered. there are people who can only get food from amazon. when you come into work, that's what drives you. my little one, i would say he's definitely proud of me. every time he sees the blue prime trucks, he says, "daddy, there's your people!" i know every single one of us is here busting as hard as we can go every day to make sure these packages get delivered. can i find an investment firm with a truly long-term view that's been through multiple marke

we saw alibaba do the same thing last year.irtual covid-19 style kind of home coming, if you want to call it that. for the chinese online retailer, it is about coming closer to its home market of china it goes to show how hong kong are really trying to ensure, take advantage of the global fund access in hong kong but while eyeing the potential, the possibility of getting into the chinese investors minds as well. there are possibilities of potential stock connected schemes and so on that connects with mainly chinese investors and hong kong in terms of the platform as well we saw young china and its shares surge overnight because of reports that young china is also considering doing something similar as well. >>> in terms of the performance, we are talking about $3.9 billion raised to improve operating efficiencies it is important to talk about what kind of backdrop we are talking about here a lot of tensions between the u.s. and china and the growing scrutiny over chinese listings in the united states we saw the trouble of lucke

alibaba and the tiktok owner signed up to take on more space in times square.e follows this week's secondary lifting in hong kong and next week's debut from jb.com. adobe reported rising profits,, even as demand falls for it advertising cloud project. the software maker declared income of over $3 billion for the current quarter. operational costs fell during the coronavirus pandemic. the better-than-expected results saw the stock rise in extended trade. adobe has pulled its annual forecast that was announced in december. fiat chrysler has won an order blocking u.s. imports of a mahindra order said to be a straight copy of the jeep wrangler. the u.s. government can veto on public policy grounds. fiat chrysler says it is nearly identical to the jeep and the commission ruled mahindra has been purposefully trying to evoke the wrangler's image. let's turn to hotels and leisure. the hilton president and ceo sat down with bloomberg to discuss diversity within his company. he said leaders have to be a constructive part of the solution. >> i am saddened by everything go

a fantastic track record in companies like alibaba. boy, is it needed. if you take a look a numbers whn it comes to that wealth gap, the incomes here, $71,000 for the average white family in america versus $41,000 for the average black family. household savings and wealth, 1/10 in the black community vis-a-vis the white community. health care is very expensive. you live there. the black community, nearly 10% go without insurance whatsoever. so this is a huge challenge, always has been even after the obama health care proposal. that's nearly double what we see in the white community. soft bank making something that's sustainable. they want to have a fund that grows over time. i think the one case having covered the la riots in 1992, the policies were not sustainable, john. will it change this time is the multi-trillion dollar question. >> multi-trillion. okay. john, thank you. john did he have tear yous. >> it is. >> thanks, john. after the break it seems drew brees has gone from hero to zero after criticizing players who take a knee during the national a

. >> 103, $21 billion in stock we've heard from softbank as well, massa stepping off the board of alibabaey still own 25% of it, still the single best investment probably ever made and still accounts for a huge amount of softbank's overall value, but he is stepping off the board of alibaba just as jack mass stepped off the board of off bank as well. there is a look at mass is a who said we are not done yet what you think we are at softbank -- and they did make money from the print deal back to t-mobile. they still own 8 or so percent of the company but they ended up making a real return after years of struggling, trying to sort of make a go of it as the fourth carrier, finally getting the deal they always thought they would be able to but years after the fact and finally getting it done years after it was announced and yet they did come out with a what he says is a 25% irr. most people will take that as for the vision fund not looking quite as good on that one, guys. >> i have to tell you when they priced please big secondaries you have to be there the regeneron secondary was a gift the b

asian side of things, the , those that make nike apparel, they have more technology with tencent and alibabaso it varies. but the opportunity will be for financial services i was just services as well. to have high active shares, not to follow the index. right. at, i was trying to get with the outsized portion, if you do not want to outperform, what would be the alternative? what would you advise now to get into at this level -- at these levels? >> that's the million-dollar question. [indiscernible] on the asian side, opportunities people get more certainty around what is happening in hong kong and other parts of southeast asia. commoditiesh bulk still hold and will sustain good .rowth year to date iron ore. there is the opportunity. our portfolio is less cash than march and looking to deploy more of that in any form of correction across similar lines discussed. is your take on the macro data? things are still depressed. we have seen an incremental improvement from the bottom and a lot of places in the world and data on the upside. at what point do you think it makes sense that stocks genera

how about the performance for the emerging markets or the mchi which is the chinese etf and alibaba. that's up 7% there's this notion, which i agree with, it's time to step alittle bit outside of the u.s. in your comfort zone and get some global exposure >> that's going to be on our list of things to consider, joe. i'm glad you brought that up we'll get to that in a minute. nasdaq was the out performer in the first half up 9.5% everything else is still down. technology, a great performer up 11.5 you have the big 5 having just tremendous gains, at least for the most part. what's the story going to be >> muted returns with the technology sector continues to lead, that's not a bullish trade. the bullish trade is where we had several weeks where we saw people piling into the more cyclical sectors they pointed to a 2021 recovery being much more robust than what we would expect in the back half of the year. it can be competitive and that can survive and thrive and it creates additional concentration in their portfolios which is a a risk the second half of the year will be choppy. i think i

chris, one that comes up for you is alibaba which is tied up in the back and forth between the u.s. and chinese relationships so on this kind of wall of worry would you put the civil unrest on there >> it depends on time horizon and i always say as investors we need to be unemotional, we need to focus on the long term. as humans and citizens we need to be compassion nate and engaged. when you ask how we look at the world today, as investors we look beyond what we're seeing now and recognize enormous strength in the core in china and in the u.s. and i think that over the long arc we'll look back in 2020, it will be one of those years where we look back to the terrible things to go through in the last 50 years and all on that stock and stock prices marching up to the right. >> why do you think that is? we are showing your picks. why is that that stock prices keep marching higher >> the old saying is investing is the art of the specific so i think it's dangerous to generalize there are public and private businesses in deep trouble now and won't come through this, certainly without fina

hold your breath i think these companies, whether it's amazon or facebook or google or, you know, alibaba camp, they're doubling down. they're doubling down when all their peers are not doing well offline or online, these guys are going all in they have so much money that they need to put that money to work in very high roi opportunities and crisis like these affords them the opportunities. in terms of just mna, i don't think the big tech is going to be allowed to acquire anything up size, right uber doesn't even have market share number one market share. they're number three because they were going to acquire number two, the government effectively was going to give them a lot of trouble. we're probably not going to agree to that acquisition. that said, i still think grubhub will -- i'm sorry, uber will still look to acquire both organic and through acquisitions postmates, only have 8% market share. i think it would make a lot of sense for uber to acquire that and international also affords them a fair amount of mna opportunities as well. >> anthony, close things out for us we've covered

. >> shan from viba, what about alibaba, is it a buy here? >> yes, we bought this in early april, still think it's a buy. could be a little choppy as we deal with political overhang and a slower chinese consumer recovery but the cloud business is going to continue to drive interest in this stock going forward. >> we're all over the globe today, amy, we have a question from russell in new zealand, can i get your opinion on echo lab >> we like e coe laco lab, perf year to date, 8%, versus the sector down 6% they just completed a successful spinoff of their upstream energy business, kpachampion x, it's nt cheap but a good long-term hold. >> mr. wonderful, paul from state side, would you recommend buying crowd strike? >> yes, i own crowd strike in a growth index but i also own it personally this is a u.must own name going into an election psycycle. whoever loses will blame the mee russians this time it's one of the go-to names anybody looking in america 2.0 yes, yes, yes, own it now right through january. >> we'll bounce for a couple minutes, com

what does homecoming mean for the company, and will it be the same fate as the alibaba listing?a: i do think so. netease last week, i think jd tomorrow will have a similar range. it seems like the threats we are hearing from the u.s. is overshadowing hong kong's own political troubles as international hub. when i look at these adr's in the u.s., most are owned by u.s. institutional investors, jd.com included. how will it be for any investor base to switch to hong kong shares, and could that affect the liquidity and demand? alicia: so far, if you look back adr ist six months, the doing better, slightly better than hong kong. -- ifrted to see more they do not have restriction outside the u.s., they are moving shares converted to hong kong. we could see a similar pattern for netease and jd. for the u.s. investor, if they do not have a restriction, they would likely switch some holdings into hong kong. the reason is because it is getting closer to the market with the news flows happen in the daytime, and you can trade in the same time zone. in hong kong making decisions in the regio

alibaba and tiktok have signed up take on more space.follows a secondary listing in hong kong. and the debut from jd.com. -- after a remarkable surge by selling up to $1 billion in new shares. the bankrupt company -- bankrupt companies are typically wiped out by rallies. investors are bidding it up in hopes the economy will recover and people will start shopping again. there was a jump to five dollars. before sliding back. adobe has reported rising falls foren as demand its project. it declared income of $3 billion. costs fell during the coronavirus pandemic. the stock rose and expanded trade. forecast pulled its announced in december. let's look at the chinese markets as we headed towards lunch break. off of lows ing the session. that is the case across the looking at a wall street route triggered by the rally, too far too fast read the fed chairman words under the microscope. up fears about how bad the u.s. economy may be. looking at the japanese open, just over three minutes, we are going to be looking at perhaps a recovery taking pla

discussing whether to allow corporates to have voting rights, which could attract portfolio companies that alibabadi: another interesting aspect is with these restrictions and a potential clampdown of chinese companies in the u.s., we could see a surge of returning home companies. what are the likes of the new listings likely to do in terms of boosting confidence at least? lulu: that's a great question. hong kong's status is probably more important than ever for hong kong right now, especially with the proposed senate bill that could delist some chinese tech stocks in the u.s. that would make hong kong the only avenue for china to have global investor capital. china were to go, it could wreak havoc for all chinese companies, not just hong kong. taylor: our finance reporter there. markets:bloomberg more on impacts. that is it from "daybreak: asia ." our markets coverage continues as we look ahead to the start of trading across asia. this is bloomberg. ♪ >> it is 9:00 a.m. in beijing. tom mackenzie. stocks are mostly higher after the s&p 500 vibe out losses for the year. the dollar falls print eight