child long ones alibaba to sell some of its media. beijing is concerned about the tech giant's influence over public opinion. the u.s. secretary of state is in japan for talks. paul: we have opened the trade in australia this tuesday morning. for a close look at what to expect, let's get to sophie in hong kong. sophie: after australian shares managed to close higher, we are seeing downside pressure for the asx 200. bhp losing ground after the price tag was raised at goldman. keeping an eye on energy after we saw the rotation into value pick up more on wall street. tech names gaining ground. after pay rising in sydney. check out aussie bonds. the 10 year yield richard. we get australian jobs and home price data later this morning. from japan, a final read on industrial output. the yen is trading above 109. the rsis signaling the yen is looking oversold. the increasing diversion between policy -- of policy between the fed and boj. s&p in minis under pressure as the u.s. stocks closed at a record high overnight. we saw volatility ease an

alibaba currently up by 2/10 of 1%. china wants alibaba to sell some media assets.er company has a new ev battery plant. xiaomi currently up almost 6%. well, now let's get to our chief north asia correspondent, stephen engle is standing by with a look at hong kong's future. stephen: thank you, i want to bring in our exclusive guest, charles wong. good to see you and thank you for joining us. obviously a pivotal time in hong kong. we are seeing the political issues coming forth. the political landscape has changed considerably after the national people's congress. we are about to get the complete revamp of the electoral process. no more pandemic lawmakers in the legislative council. how does your party, soon to be launched, how does it fit into this complex jigsaw puzzle? charles: first of all, we don't think it will be the disappearance of the democratic party or pandemic party. we are ordinary citizens trying to form a party and do the same thing. our party is open for all walks of life and people without any distinguishing origin or background or political spectru

the chinese government has asked alibaba to sell its media holdings. a source tells bloomberg authorities are concerned about the tech companies growing influence. officials are said to be particularly upset about the cloud consul. global news 24 hours a day, on-air and on bloomberg quick take, powered by more than 2,700 journalists and analysts in more than 120 countries. global news 24 hours a day, on-air and on bloomberg quick take, powered by more than 2,700 journalists and analysts in more than 120 countries. i'm vonnie quinn. this is bloomberg. shery: i would like to welcome in our radio listeners to daybreak australia. after the e-commerce pioneer thoughts best day in years, in e adr has follow those gains. a $2.2 million stake scale could fund expansion, and finance mobile markets. they give for your time today, great to see you. at least when it comes to your e-commerce business, what prompted you to raise capital now? >> well, we started our mobile service last april. based on something no one has ever done. shery: you have called mobile your

we talked about alibaba. listen, vip shop down 30%. recently you've got this kweb coming down.ve a broader thought along the china internet trade generally? is there opportunity there or just too much risk with these s.e.c. rules floating around >> well, i mean, there's -- we have the rules issue and as tony was appropriately pointing out, that's not the only concern you have when dealing with making investments into chinese companies. there is always the risk, of course, it is a single party rule in china. and if they suddenly lose the favor of the chinese government, that is a huge risk. and i think that's also priced in here. there's no way that a company with the fundamentals of baba would be priced the way baba is if it was a u.s. or european company, for example that's the risk. that's also the opportunity. and arguably that exists in some other spaces the one thing i would say that probably insulates baba better is how they touch such a broad base of consumers. when you have that, you, obviously, have a lot of popularity and, of course, that does present a little bit of

alibaba. >> the set up is excellent.. -- second chart look at this draw down no difference than the draw down of the stock over the last five years. i highlighted 22% down 39 22 this one of 31. here's the most important part next chart look where the draw downs have stopped each time, literally to the penny in the past five years. final chart just the five year chart with the trend line. we've come down and touched the line buy it for a bounce here >> all right, tony, chime in on alibaba again swept up, pretty much everything is down. baskalibaba -- what do you think? buy on weakness. >> the chart on absolute and -- i think from a technical perspective you have a buying opportunity. on the fundamental side the valuations are very compelling considering the growth potential we have here what i don't love as pointed out is the risk of the chinese tech companies, especially big ones like alibaba that is currently in the cross hairs of the chinese regulators mike did mention the cloud business i do think that's important but

syntech is a big alibaba's revenue.iggest concern that investors have is whether that can be sustained. 29% year-over-year growth on a quarterly basis can be sustained with so much regulatory uncertainty. sales were slightly above consensus, pre-much in line. net income, coming in at 55.3 billion. a one-time gain, more than half of that profit in mobile gaming. that is what they will have to rely on. they have 43 new titles coming down the pipe in 2021. they will have to rely on that. >> how did they fit into that compliance and wrigley torrey equation -- regulatory equation? >> this is the new oil in the 21st century, data. we are hearing the chinese government led by the people's bank of china have proposed to setting up a joint venture with these large tech platforms. this is a tricky topic because this data is the competitive advantage that alibaba has, that tencent has, that we chat has. the tricky thing here is the existing rules on data privacy gives the users the right to decide how information is used. this is

we had baidu, alibaba, on and on.teresting because it is another example of how the biden this ration so far as stuck with the policies trump left over. shery: domestically, china is already tightening its grip on tech data. >> that is one area where the u.s. and china dovetail. both countries and governments around the world are waking up to out valuable data is for industries of the future, and everybody is struggling out to regulate it. the chinese response has been for the government to take a more hands-on approach. what we found out is that government is discussing with china's is to companies to oversee data at these companies are taking from hundreds of millions consumers -- millions of consumers every day. haidi: nato says china's rise as an economic and military power makes its will even more important. we spoke with the secretary general about this as well is the alliance approach to the north korean pipeline in russia. >> the united states has repeated it's clear message on nord stream 2 and their art diff

jb and alibaba that were all very successful.t is also about getting exposure to investors here on the mainland. you can see the stage behind me with the gong, getting ready for the 9:30 ipo?. if it is successful, baidu, you will get more of those sized and larger chinese companies listed that still are listed in the u.k., the likes of ite coming back and testing the waters here in hong kong. haidi: they have also been making a big push in --. how successful has that been? tom: they have actually rebranded the business away from -- it used to be called an internet company with an ai foundation. now they are describing it as a leading ai company, kind of underscored by the gong behind me. you can may be just about make out, they have model ai chips built around the gong, you've got a little robot on stage who will be getting the gong that 9:30 local time. they have invested heavily in ai and they are starting to see that payoff whether that is in chips or autonomous vehicles. they have cloud services. their ai hardware division ha

alibaba is not complying. the biden administration indicated it will maintain its tough stance on china. global news, 24 hours a day, on-air and at bloomberg quicktake, powered by more than 2,700 journalists and analysts in more than 120 countries. this is bill burck. -- this is bloomberg. haslinda: we will be bringing you exclusive coverage on bloomberg tv. the event brings together leaders as well as institutional investors. let's go to our correspondent in hong kong. >> now we have the ceo and cofounder of razor coming to this good performance due to pandemic driven demand. thank you for joining us on the sidelines of the conference. the company in the black for the first time since 2017. arguably, you have pent up demand at work. is this momentum sustainable in a longer outlook and what kind of sales are you projecting for 2021? >> we had outside growth in 2020 and we turned profitable so it was a great year for us. what we do see is sustained activity in gaming even with some of the markets opening up. we

this is one of the biggest ipo's since alibaba.is your take on the opening and are you concerned about leaving money on the table? bom: that is not how we think. we are here today because we focused on a long-term strategy in division. we have had teams and shareholders who have been aligned without long-term vision. and i think we will continue to stay steadfast to that dna. emily: people compare you to amazon, they call you the amazon of south korea. what do you think about that comparison and how do you think about your competition with amazon? bom: we have been inspired by a lot of great companies. but i think that our investments are unique and it's produced unique experiences for our customers as well. dawn delivery, you order as late as midnight and we deliver before 7:00 a.m. not even convenient store selection but against millions of items. you order before you go to bed, and you wake up like christmas morning every day. we got rid of classical trade-offs that you make when you choose, online convenience like box packaging

we like what we've seen with alibaba.rshadow the core competencies of tencent and its revenue drivers, including gaming, of course, in advertising tied it to we chat platforms, so we really need to get any kind of guidance coming on what is expected down the pike and what could possibly happen to the fintech divisions. will they, as bloomberg news has reported, possibly be folded into a holding company with oversights by the people's bank of china? these are big questions when you are talking about wealth management, payments, microloans through the 30% owned we bank. all of that aside, that is longer-term focus with an immediate impact, but the fourth-quarter results but we are going to be looking out are going to be fairly robust. we are expecting the average consensus estimate for net income is 452% rise year-over-year. that would be the second fastest in almost three years. the question is, can sent -- can tencent keep a lid on expenses on huge cost areas like video streaming which has massive competition from the lik

alibaba shares falling after the company's web browser was pulled from app stores in china followingnt from chinese president xi saying regulators need to fill in gaps and loopholes when it comes to chinese tech companies dan, you're saying one of the worst looking charts in the market of a chinese tech company. >> yeah. it's ali bbaba the stock has be very volume at -- volatile. sitting on massive technical support. massive head and shoulders formation. really has to hold here. the news flow has gone from bad to worse, i will leave that for tim, but it seems like the chinese government is looking to plant down on this company and it'sentities and you want to the be careful below the recent lows, 22220. >> i get clamping down harshly would be biting off your nose despite your face because they're national champions at the same time they could really transform these businesses and how they're valued >> yeah, that's the -- i'm actually more worried about this alibaba media assets, they hold in twitter and a online gaming platform that's a $40 billion company, these are parts of nuggets

exchange since alibaba. >> it's been quite a ride.e talked a lot about it lots of companies have been trying to buy you for years. talk to us about the path to profrltbility. the losses have come down. we have been aligned and unwavering i think we will continue to remain focused we're really, really excited. >> we'll continue to invest in the regional areas continue to invest in the technology and end to end integration. nobody has a clue. we're almost backwards to where you are. an executive said they were going roller blading because you can place an order as late as midnight, he placed an order for roller blades before he went to bed. in the morning it was waiting for him outside his door had those not been the right size, he could have left them outside the door it's not just free returns, it's stress free returns. that's the kind of assurance we've been able to build. >> is this doable in any other country? the reason i ask is the density. so you've done something remarkable which is it's a fully end-to-end business. the density

coupang, foreign ipo since alibaba.e highest is 77% so it's dropped off a little bit and following roblox, you have two for two over the last couple of days. it's time for unusual activity doc, what have you got >> xle and draft kings both zoomed to the upside today we're hoping for the same. jmia, scott. these are options on the amazon of africa and they expire next friday, not this friday. they are the 48 strike calls with the stock at 46.65 and i'll probably be in them about a week, scott. the second one is con stillium and with the stock at about $16. they bought a lot of these really quick, scott. we jumped in there with them since they're that far out into the future i'll likely be in these about six weeks like the upside for both of these two calls. >> dr. j, thank you very much for that ask halftime is next give us your questions and you can send them by video, too. we'll play them on the air and ask halftime@cnbc.com. we'll be right back. a fund that invests in the innovators of the nasdaq-100 like you become a

ant group, the financial affiliate of alibaba that jack ma help to cofound, had to pull its ipo testis offering. in singapore. we found there are proponents for this crackdown inside and outside the government but as we talk to auditors and venture capitalists we found widespread concerns about what this crackdown means for the future of animation in the country -- future of innovation in the country. there are people concerned about the lack of transparency from the government who have not explained details of what is going on behind the scenes and why there was this crackdown on alibaba and ant, and other tech giants. there are concerns that now, as an entrepreneur or founder in china, is not the time to take chances. we found entrepreneurs are hiring more government affairs people to make sure they do knocking on the wrong side of government and are trying to be more cautious. some are trying to expand overseas so they are not is exposed to the chinese to domestic market. shery: when you talk about supporters outside government of the crackdown, it is speak because of perhaps mop

at the same time names like jd.com, alibaba have held up much, much stronger.over the last two weeks, maybe some of this hedge fund liquidation was taking place up to two weeks ago and this final flush on friday and hopefully today gets this behind us. >> it is tim i'm a long time investors in that part of the world and a big believer in the chinese internet story but i'm very concerned about the pressures on both sides unrelated to a tiger cub they are s.e.c. de listing dynamics for the biggest chinese internet names and you have them cracking on alibaba and then ten cent, does this concern you about trends for investors here? >> i think on the s.e.c. tide, we've known that this was out there, we're hoping that under the biden administration that the two regulators could come together, put this to bed. i mean, this isn't rocket science so we think the de-listing is something that is not going to happen in a very, very long time three years plus out we think there is time for a resolution on the china regulatory side, again, these are the golden gooses these ar

have denied that their testing software is being used for commercial purposes but internet giant alibaba has already admitted that its cloud division has developed discriminatory ai software and even greater concern is the fact that it's custom a step by step instructions for how to use the software to target we've got muslims paired with mobile phones and surveillance cameras the software enables users in china to send images of people to its cloud service to flag as suspicious we guess in other words users as opposed to keep feeding the facial recognition with data that enhances racial targeting that's truly scary tools like that show that can be used to target ethnic groups. says karen young an expert in artificial intelligence and human rights very powerful systems increasingly being used to sort school and organize people people at population what level and even though we don't see that kind of drastic action being taken in western industrialized societies there are an increasing number of social. scoring people particularly in the criminal justice system to make predictions based o

going to cut ties with these companies but we also did see big chinese e-commerce platforms like alibaba and j v dot com also were moving some products from particularly h. and m. from their websites as well can we expect some backpedaling from those companies given to china is not just a major global supply up but also a huge market. it's definitely a difficult line to be walking for these western companies we have seen a lot of companies making statements like nike expressing concern about forced labor of the weaker population so we have seen for example the u.s. and imports of cotton farmers in young. global fashion industry has been sort of distancing themselves from the cotton from that region but it's a much bigger more difficult task to you know cut off the chinese consumer population china last year became the biggest retail market in the world it's only going to get more important as the chinese economy grows so western companies and i really can't afford to lose the chinese consumer. on food thank you so much. low tide overnight has slowed if it's to dislodge one of the largest

alibaba, are they down? yes. times of london says alibaba was pulled from a chinese apple stores, what's china's problem with their own big tech? susan: i think there's too much influence from the big tech names. they are trying to stipple-- strip away alibaba 10 sent back, the two largest chinese tech companies in the world really, both in the top five or six in the world reporting alibaba's browser has been removed from several app stores and also the journal reported forcing them to sell off some of their media assets. also their stake in a china twitter service of the stock has come down a lot, alibaba has. they are below 230 this morning. stuart: in. thank you. show me moderna, they have begun tests the coven vaccine on youngsters from six -month-old to 11 months. they will start by giving the vaccine to the older children first and if it is shown to be safe they will be the two younger kids. the stock is up over 2%. we have a new survey out from bank of america, investor survey. tell me, susan, our investor

beijing is calling on alibaba to sell its media assets and this morning pulled alibaba's popular browserthe crackdown to continue. this is part of the bigger story, the human rights abuse, the coronavirus pandemic, trade with the united states and also censorship. >> this crackdown will continue, it will be relentless and alibaba, ten cent and other companies will be victims. we've got to remember how top-down the chinese system is. all of this crackdown started when chinese officials reacted to jack ma who is behind alibaba and ali pay, ant group, when he actually gave a speech criticizing central bank regulation. this was in october of last year at a summit in shanghai and this actually created a number of different disruptions in the force. one of them was that within 36 hours of china going ahead with what would have been world's lastest initial public offering, they just pulled it. alibaba i think is probably going to be in for a very rough ride as well as ant group. jackie: it's almost scary what they've done to jack ma. i know patrice has a we for you, gordon. patrice: good mornin

the likes of alibaba and jd.com starting to enter the space.ay competitive and maintain and expand market share? >> normally we do not comment on peers directly. the two things we are certain. the first, the baker ipo -- we are very confident. to enhance capability of housing markets. always remember to stay true to our original -- [indiscernible] for example, the 24 hour commission -- moreover, the people that have -- it continues to enhance the people and the customer experience. shery: what are you seeing in terms of buying trends from consumers right now? >> so far, we are still very stable. very stable price with the housing in china. we are a platform company. because we are -- we have the ability to manage the rates. haidi: really great to have you with us. we appreciate your time. coming up next, while way -- huawei is expected to demand 5g royalties. we will take a look at that next. be sure to tune into bloomberg radio to hear from more of the days big newsmakers. you can get that in-depth analysis from the daybreak team. broadcasting

. >> alibaba is a controversial stock as of late what made you buy it >> as you know, we have coverage of alibaba covers the name and in listening to him talking about the story around baba, we know there's regulatory concerns in china but as we start to get and move some of those uncertainties out of the way or have a better understanding of what they are, baba's valuation is so undervalued right now, vis-a-vis its competitors. i think we have a $355 price target on it, north of 120 or so dollars of where we are today. you think about its presence in china and dominance. is this name should be worth substantially more than where it's trading because of the uncertainties around china as well as the competitive landscape but baba well positioned to go up from here. >> i was going to ask you about another stock but give brynn a chance to weigh in, debate on that >> let's go to texas >> why, because you told us a week ago, you sold baba. >> yeah. i couldn't own it anymore. i think we'll talk about the microsoft and they own 35% of ant group that got regulated out of the market. whether it

alibaba health, -- you are seeing that play out across equities. the bigger one comes out today.l did not know the details when it comes to what could be the biggest overhaul as you mentioned. it could be an index with a lot more stocks in it. i think we are at 55 right now with a three addition. you could have changes in terms of the minimum and changes within the index. just something to watch. should be due out after the market closes today, if i'm not mistaken. haslinda: as far as the market is concerned, i guess the focus is on what central banks will do and fed speakers will be speaking today on the back of that volatility in the bond market. what could the comments mean for the bond market? david: i know you guys talked about this already with mark a couple minutes back, the move that we had last friday, last thursday on the short end of the treasury curve, following already some words out of jay powell that they are not moving on rates, and you see the short and moving up. one, will they need to step in and say more? the risk is if they come out and then say something mor

first up, a video question for kevin o'leary on alibaba >> hi, this is robert from canada >> stay longization of the economy and more people having products delivered as opposed to the hassle of retail, alibaba is a must hold. hold it through the saga the government there obviously works a little differently than our own. and they just want to shake the tree a little bit and did a good job doing it back on in line. he exists, he's out there and really has nothing to do with the sock the stock stay along baba. >> next, peter is asking steve weisz, this is peter talking why isn't the market rewarding moderna's earnings expectations? steve? >> sometimes, the market is inefficient. let me describe this company to you. it's going to earn $30 this year in 2021. it's going to have $15 billion in cash, invented a new vaccine. no competing drug or vaccine on the market it's the cheapest stock i own at 5 times earnings and the market is inefficient because only eight analysts follow it, whereas 23 follow gilead which hasn't done anything in half a decade so sometimes, the market is wrong. i ment

alibaba is giving you another shot having gone from 225 to 280. baba you have something to trade against i think 2.25 tim's been talking about it for a while. this is the most meaningful tradeoff we've had >> karen, you have been in baba. would you be back in >> baba. >> or you still are. ok >> i haven't sold any baba it's been a bumpy ride i think baba is undervalued. people talk about anson and i feel like the valuation, you think about the valuation is completely out you know, i like it here it hasn't worked lately for sure, but i think it's potentially huge and not expensive. there's a lot of other businesses there it's not worthless trading like it is >> grasso, i'll ask you, k web or q and i'll give you a choice c, which is none of the above. because i know you like the typical trade. >> i think you probably can go with china-related stocks over the qs if you think about it, there's been such negative rhetoric towards anything china-based and including and probably most importantly chinese stocks there's been talks about delisting. that got

names like alibaba or baidu.ngs that actually rallied even with the retail frenzy you saw in chinese markets. we are just adding to get a taste of how much retail traders can move the market. i think china is such a great path or leader in that they have dealt with as volatility. they know what to expect. in terms of where the future is and what kind of participants you see in the market, china is a great example. joe: what are you going to be watching year? what are going to be the themes you watch to see how that have -- now that we have -- what is next? >> i think the big one is going to be things that have to do with inflation. i am looking at semi conductors, which is a weird take on inflation. also a way to play the tech space as well. you have to look at things like energy stocks. they have become such a global proxy you for growth and economic growth out of china and the u.s. and yet, their prices are controlled by opec, u.s. shale producers. there is a lot of push and pull. it tells you, what era are we

within that alibaba is down 7% kerry, you own alibaba what do you think is going on? this earlier this morning >> there's a few things. one is we had problems with china relationships over the last couple of months with the biden administration it's not clear how things are going. we suspect this will smooth out. you had the problem with ant financial, the huge ipo of which baba owns more than a third. we had jack disappearing the ceo guy. we had no problem with how the company is being run it sells for 16 times forward earnings one in every two chinese consumers uses the platform. they are out pacing the growth of china it's had a terrible run. to stock is up it could be plateauing right here and ready to make a move. it's a volatile stock >> we'll take a quick break. if you're 55 and up, t-mobile has plans built just for you. switch now and get 2 unlimited lines and 2 free smartphones. and now get netflix on us. it's all included with 2 lines for only $70 bucks! only at t-mobile. let's meet the defending champs. kim kietz, investor. i invested in invesco qqq a fund

china's market regulator launched that official anti-tuft probe into alibaba in december.dcuffs the amount of business that his financial arm group can do. as a result, alibaba therapies down some 16% the past six months that means jack ma is still worth a little bit less. he is worth roughly $55 billion. he loses bragging rights. no longer the richest in china. that goes to a bottled water tycoon, worth $60 billion. his name is complicated so i won't mention it. the second richest is the owner of tencent. tony ma owns tencent. they own a stake in a lot of companies including tiktok and a lot of gaming companies as well. stuart: got it, susan, thank you very much indeed. >> >>> next the biden administration insists there sew no crisis at the border. despite a huge influx of children that arrive every day. just watch this for a second. >> do you believe right now there is a crisis at the border? >> the answer is no. i think there is a challenge at the border that we are managing. stuart: 13,000 kids at the border. it is not a crisis. no, just a challenge. we have a live rep

have denied that their testing software is being used for commercial purposes but internet giant alibaba has already admitted that its cloud division has developed discriminatory ai software and even greater concern is the fact that it is custom a step by step instructions for how to use the software to target we've got muslims paired with mobile phones and surveillance cameras the software enables users in china to send images of people to its cloud service to flag them as suspicious we guess in other words users as opposed to keep feeding the facial recognition eye with data that enhances racial targeting as truly scary tools like the show that can be used to target ethnic groups says karen young an expert in artificial intelligence and human rights very powerful systems increasingly being used to sought score and organize people people at population what level and even though we don't see that kind of drastic action being taken in western industrialized societies there are an increasing number of social. scoring people particularly in the criminal justice system to make predictions ba

dozen companies in recent months alleging they broke monopoly rules among them e-commerce platform alibaba gaming company 10 cent shopping side nature when android hailing for d.d. mobility wiping billions of them markets values now the intensified to scrutiny has rattled confidence in the hang seng tech index it's down 22 percent in the past month as investors flate. so so high on in taipei what problem the chinese government has with those tech companies. beijing as long being concerned about the influence these tech companies have over the financial sector by this time is a bit different chinese president xi jinping directly code on the regulators to step up their crackdown on these companies so that brought this issue to a totally different level and there are different ways for him to do it to deal with the end group china may require to behave more like a traditional bank instead of the tech company and for ali baba and 10 cent their media accepts like south china morning post chinese twitter wave pool and other media presence are seen through us through the chinese communist party a

top chinese tech companies like alibaba and jedi dot com are well known around the world but the meteoric rise has been driven in large part by an industry wide culture of working long hours called the 996 walk ons up to 12 hours a day from 9 am to 9 pm 6 days a week and it's tiring. it's the start of a new working day for shall hang that he feels tired is nothing new like others on their commute the icy work and knows there's no let up in his job. usually my shift starts at $9.00 and 8 in the evening the working day is 11 hours with a one hour lunch break it's been coined the 996 working week 9 am till 9 pm 6 days per week a total of 72 hours tech companies in china expects this level of dedication as they need to compete with rivals and return employees often highly educated program is a comparatively well paid. job that most of us put up with this because we want to earn money. but there is growing pushback against the system which critics say contravenes chinese labor law this and $19096.00 websites is clear where workers will end up in i.c.u. intensive care in recent weeks the deaths

what they called monopole istic practices tense and shared $60000000000.00 in market value while alibaba signaled may have to sell off some assets under the crackdown. and the e.u. has launched a legal action against the u.k. over an alleged breach of the northern ireland protocol it's a major part of the brics a deal which aims to avoid a hard border between northern ireland and the republic of ireland. talent state owned power utility wants to promote renewable energy with floating solar plants currently renewables account for about 15 percent of the kingdom's electricity makes by 2036 this share is expected to more than double. floating solar parks each one the size of 10 soccer fields and that's just the beginning today another segment is being towed to its final location for sweet a show took it's become routine even if the conditions today are not ideal and today is the last time when the n.b.a. have to meet at a compound at the pass and get there to understand what just even the guy. in the beginning speed boats were used for towing but they were not easy to maneuver. we used as t

>> you know, this is basically created-- korea's amazon meeting alibaba.owing a good growth rate with a third of the e-commerce market plus they are also-- 70% of korea within like 6 miles from them in terms of distribution center so they done a great job building out the model. they are basically an expansion mode and one thing they could do is actually in the on their korean borders with some the ipo money. stuart: do you think this thing consumes today? >> i think so. they started out at 2050 price point and they are at 35. wiki gets going to grow because there's a huge appetite for commerce in south korea. they have actually out dominated amazonian south korea which is a rare thing to do but given how amazon operates so we have a lot of growth for them. of the other pieces they are known for rocket delivery. you can order something at midnight and get it by 7:00 a.m. and that's how well they have their distribution centers so it's probably the biggest fleet with 50000 trucks to do that delivery. stuart: that is a speedy delivery. let's look at roblox.

while jack ma is no longer china's richest person that according to figures published on tuesday alibaba and group found their top of whom global rich list the last 2 years but has now slipped to 4th moniz companies have been under tough scrutiny from chinese regulators who cancelled at groups i.p.o. scheduled for last november china's richest person is now founder of bottled water brand non-food spring junction sun. let's go down to the 2 businesses clifford couldn't who has covered china for years clifford we want to talk about jack ma may be a small indignance he's only he's not the richest man in china anymore but his fall from grace is really significant it's been tied to beijing stopping his company's i.p.o. do we have a better understanding of what exactly happened there. well stephen the original thing was an october 23rd he gives each criticizing regulators which didn't go down well baking i think it's fair to say because he disappeared and for 3 months. and then reemerge with a very brief terse video. after that we don't really know what happened what it does seem to be is a ma

different take on this china is starting to crack down on their domestic internet behave myths like alibaba and finance obeid 10 cent and others these companies are far ahead of their global competition in terms of fent tech innovation well that innovation die with this crackdown in other words are trying to strike a balance there is that going to work damn i don't believe it'll it'll die completely these companies in expression too big to ali baba in the 10 cent or have been dominating the new tech economy of china they became so powerful through firms like and financial which only ali baba they were sucking up 30 to 40 percent of global savings out of the system so it was just a myth just america if he started buying up media the basic any new type of start up comes up they buy it so these companies just became much much too powerful and now china's was forced to after the baby and system you know be virtually got put in it and financially they had to do something so they're trying to create a balance now as we speak there one thing it doesn't make any sense to me is that they abided mini

a comeback for a shadow from alibaba and tencent.ew, the ceo and cofounder robin li tells us about baidu's transformation. >> typically, it takes five years to get a product of the market. we will try to get it to get into the market sooner rather than later. last year, we spent about $20 billion on our end d -- on r&d, more than any other company has spent. we are determined to spend a lot of money for the next 10, 20 years. to be sure, we have to invest in the strongest platforms. tom: sounds like elon musk, do you think you will take on tesla? >> i think we are quite different. we are an open platform. we want everybody to be successful. we don't just want to build our own car. in addition to the venture g2, we also supply technology to others. we want them to use our capabilities. and we want consumers to enjoy self-driving cars sooner rather than later. we want safer ride-hailing cars. there are lots of things we can do and we will partner with people to do that. this is very different from tesla. shery: the bloomberg special, a

new stocks or second over the things like alibaba where the cap is currently five cents, that can increasee can see some paths of flow into alibaba after those changes take effect. >> it is an important question. there was a lot of noise around that because the ideas are that the hang seng index will not just be another chinese stock index. the hang seng index has proposed that it will maintain 20 or 25 of its constituents and they will be classified as hong kong firms. that means they are either based here or they would derive the majority of the revenue from the city. that never can be evaluated over two years. the weighting of hong kong firms was just 42% at the end of last year. the idea is to increase it or at least 19 at that level -- maintain it at that level. >> take a look at where the global economy is heading. we will get our guest's predictions next. this is bloomberg. ♪ >> this is daybreak: asia. dozens of antigovernment protesters in hong kong are due back in court on tuesday after the first day of their hearings was adjourned after one of the group collapsed and was taken to

many companies including alibaba and tencent are under the close scrutiny of these antitrust officialsunderscoring that. we have the tencent earnings out later. >> blockchain technology's transforming the digital art market. the auction house recently sold a digital unit for $69 million, went to a non-fundable token -- linked to a non-fundable token or nft. we will speak about the market impact of this technology but first, a reminder of how it works. >> this collage was sold for 69 million dollars. the same price as this picasso back in 2018. for the first time in a 250 year history, the auction house stepped into nft's. this 10 second nude video of biden and trump went for 67 in october and for $6.6 million four months later. a different price and a different form. a pretty good deal for the investor known as pablo. >> we did not know it would go up in price in the matter it did. i am sure this will be the symbol or the leader of this movement. >> entities are like a certificate of authenticity, proving you own the the digital artwork. most of them use the cryptocurrency, ether. each

used for commercial purposes but internet giant alibaba has already admitted that its cloud division has developed discriminatory ai software and even greater concern is the fact that it's custom a step by step instructions for how to use the software to target we've got muslims paired with mobile phones and surveillance cameras the software enables users in china to send images of people to its cloud service to flag them as suspicious we guess in other words users as opposed to keep feeding the facial recognition ai with data that enhances racial targeting that's truly scary tools like we go along show that ai can be used to target ethnic groups says karen young an expert in artificial intelligence and human rights they powerful systems increasingly being used to sort organize people people at a population what level and even though we don't see that kind of drastic action being taken in western industrialized societies there are an increasing number of social demands where we score in people particularly in the criminal justice system to make predictions based on algorithmic assess

everything which is linked to alibaba and tencent to government interventionism because tech companiesstrong and powerful and i think they want to contain this a little bit. i would say in the global environment where rates are rising a little bit, the dollar is getting a bit stronger, i would be cautious in the short-term on emerging market assets. mark: the global economic cycle isn't synchronized and you mentioned how europe is lagging on the vaccine side. i'm curious if you think there is a convergence trade on that cycle over the next year and if you believe in that convergence trade in the economic cycle, how do you best express it? hugh: -- florence: i think a good way to express it is to think everything which is still lagging the recovery, be it in terms of regions and europe is a good example. in terms of valuations on the equity markets. we do know there is a big gap between value stocks, between growth stocks, which have not closed yet, which have started to normalize and we do think in an environment where rates are increasing, this is a theme which can run a bit. anna: fl

tencent a 1.5 percent decline, alibaba as well. we are heading in one direction, and that is down.bout inflation, looking ahead. haslinda? haslinda: plenty more to come. keep it here with us. this is bloomberg. ♪ want to save hundreds on your wireless bill? with xfinity mobile, you can. how about saving hundreds on the new samsung galaxy s21 ultra 5g? you can do that too. all on the most reliable network? sure thing! and with fast, nationwide 5g included - at no extra cost? we've got you covered. so join the carrier rated #1 in customer satisfaction... ...and learn how much you can save at xfinitymobile.com/mysavings. so many people are overweight now and asking themselves, "why can't i lose weight?" for most, the reason is insulin resistance, and they don't even know they have it. conventional starvation diets don't address insulin resistance. that's why they don't work. now there's release from golo. it naturally helps reverse insulin resistance, stops sugar cravings, and releases stubborn fat, all while controlling stress and emotional eating. at last, a diet pill that actually

have you looked at alibaba, and others?tech companies are in bear market territory down 20% from their recent peaks. stuart: we got it. thank you. quick check of the big board, six and a half minutes with a business and we are up 150 points. 10 year treasury-- this is a problem for investors, up to 1.67% and that's why big tech is down. price of gold has done little recently even though there is a threat of inflation on the road , gold is stuck at $1726 per ounce. per coin, bitcoin quote 52900. oil, $60 a barrel, up a bit this morning because of the suez canal blockage. by the way, the price of gasoline actually went down 1%. $2.86 is the average, but still up 80 cents per gallon from one year ago today. that's a financial markets as they open on this friday morning. now, we know why president biden kept looking down during his press conference. he had that sheet sheet. look at this photo and you can see numbers next to reporter's faces and names. look closely as we have amplified this. that suggests the president was takin

the problem with alibaba from their standpoint is it was creating something different.em a way to express each other and the regime got nervous about that and the crackdown came on the lead entrepreneur of that company. if you're doing business in china and you get any kind of following, watch out if you don't align with the communists. they're not going to let you operate there much longer. maria: yeah. exactly. and while american businesses are gearing up to sell to 1.4 billion people, they also need to recognize the national security risks and the institution they're dealing with, that is the ccp. when we come back, a terrifying moment caught on tape, a young boy dangling from a ski lift, that's next. wait until you hear what happened here. and marking one year since the lockdown, how the world is bouncing back as vaccine technology is ramping up. stay with us. ♪ we live in cities. ♪ you never seen on screen. ♪ not very pretty but we sure know how to -- hooh. that spin class was brutal. well you can try using the buick's massaging seat. oohh yeah, that's nice. can i