. >> alibaba promising to invest and move fast. antitrust finds triggering its first lost in years. >> a federal money laundering investigation is adding to crypto worries now. >> alibaba, downgraded by 10%, the company betting on additional spending. >> yes. it is down about $30, so a little sticky. we will see what happens. we will get an early indication after the collapse overnight. have a look at where we are now. stocks up, but a wild week, particularly japan and taiwan. the worst week since 2020. we will talk about the msci china, alibaba falling, down 20%. have a look at where we are. we are tracking commodity markets. some cuts might add upward pressure. unwinding some of those now. rebar futures, crude brent down. looking across cryptos. yields. weekly jobless claims south of 5000 in the u.s. overnight. -- 500,000 in the u.s. overnight. inflation is here, but still temporary. tom: gains overnight in wall street. benchmark tumbled after a selloff. the msci china index fell 3% thursday, extending losses to more than 21%. le

alibaba's earnings.power of earnings growth and contribution that ant group in its previous iteration before the downsizing that is happening right now could be contributing. forward earnings from ant will likely be much less. back to you. haidi: our chief north asia correspondent with the latest on alibaba. tings then securities will be joining us later. plus, avina choi is on bloomberg markets china open with her view. the u.s. takes its biggest steps toward -- back toward life as we know it. with the cdc announcing fully vaccinated people can ditch the mask and social distancing. this is bloomberg. ♪ shery: we are counting down to the start of trade in tokyo and seoul. in korea, the government has unveiled a $450 billion spending plan to build the world's biggest chipmaking base. we will be a watching samsung and sk hynix who are weeding investment. the finance ministry will sell 400 billion yuan of 50 million bonds. this is the last day for companies to report first-quarter earnings. some companies a

his divorce over for alibaba? we get a preview of earnings in the record of -- in the midst of a record of fines. this is bloomberg. ♪ vonnie: this is "daybreak: asia their the world health organization say more infectious coronavirus trains are feeling and a break in india have not been detected in 44 countries. it is calling for more studies to understand the severity. the strain is forced to be designated an area of concern by the yuan agency and epidemiologist. it may cause even more mutations. the largest gasoline pipeline in america is back in service after a mess ransomware attack. colonial pipeline was forced to take its business off-line choking supplies off the eastern part of the nine states. it will take two weeks for full service to be restored. the average price of gasoline tops three dollars a gallon for the first time in more than six years. a diplomatic push is intensifying to end the most serious clashes since 2000 14 involving israel and the palestinians. the u.s. deployed and envoy to the regio

alibaba is set to release its results later today.hope to ps fight investors after handing out a $2.8 billion trust fund in april. alibaba's shared have largely paired losses from the fine. joining us is steven. what do investors want most to know about after it's been a tumultuous few months? >> yeah, it has been tumultuous for alibaba until the hammer came slamming down until the last second scuffering of the i.p.o.'s roughly $35 billion for a $325 billion company. that's about .10 now. no i.p.o. in the cards and five, six, months -- four, o five months of regulatory scrutiny. question 1-10 for daniel jong and co-founder jack tie. later today, 7:30 p.m. eastern time thursday is when they have the conference call. after the earnings after the hong kong market closed today, one through 10 of those questions are going to have some iteration of regulatory outlook. i mean, joe ty, the co-founder said we're happy to put this behind us. is it really behind us? is it behind alibaba. maybe on the anti-monopoly fund. they're going to write th

our margins going to be crypto bit on offer -- because of alibaba.heir latest results last week said they are going to plow all incremental profits into new businesses. yes, they are a regular soy threat for jd.com and the agreements that it has for its merchants. however, less of a threat for jd.com than what we saw with alibaba but the threat is still there. sales beat analyst estimates. revenue jumping considerably. net income more than tripled again there was a low base effect because of the shopping declines in the calendar first quarter because of the pandemic. however, a good set of numbers. going forward is how are you going to keep this sustained buying trend online which already this year retail sales in china are expected to generate about half of those from online shopping and that benefits the like of alibaba and jd.com. >> if you want more context and analysis on china's crackdown on tech companies, watch our special on the bloomberg technology channel. take a look at after hours trading for cisco. they reported after the bell and they

there was an investigation into a food company that alibaba competes with.enue for the next year, betting that the pandemic driven shift to online shopping will remain strong.— will remain strong. thank you very much. — will remain strong. thank you very much, sharanjit - will remain strong. thank you very much, sharanjit do i will remain strong. thank you very much, sharanjit do stayl very much, sharanjit do stay with us here on bbc news. still to come: how yoga went from a simple excercise you did once a week in your gym to a booming industry. "the pope was shot, the pope will live" — that is the essence of the appalling news from rome this afternoon that, as an italian television commentator put it, terrorism has come to the vatican. the man they called the butcher of lyon, klaus barbie, went on trial today in the french town where he was the gestapo chief in the second world war. winnie mandela never looked like a woman just sentenced to six years injail. the judge told mrs mandela there was no indication she felt even the slightest remorse. the chinese

it is impacted by antimonopoly, compared with peers like alibaba.s is advertising, but others will be impacted. particularly speaking, for investors who are focusing on the results, they will see some weaknesses, mainly because of the post-covid effects, especially on gaming and cloud. for gaming, i think there are fewer people staying at home, and also for cloud, we have already seen that. advertising will be strong. it is part of the economic recovery. in general, the tencent stock price is at a reasonable level, but people will expect to see the first quarter result is not as good as people expected. >> when you look at analyst recommendations, 63 buys, and the general sentiment is that valuations are attractive, compared to where tencent used to be priced at. how big is that risk? >> i agree with that. i think you need to do it case-by-case. these two are basically e-commerce or transaction-based, so they take higher market share , then can increase the rates from the ecosystem, but after antimonopoly, this will change. if you look at tencent, t

writedown, 151 billion if you take alibaba's share she only owned a third.by the number of shares appear you come up with $18.64. that's how big the writedown that fidelity took is. however if you look what's happened in the stock, the stock is down $63, right, since they had that prior valuation so i think this is actually above where the street -- this 144 values is above where the street has this embedded value of ant financial so, to me to me, i don't think -- i think it's actually a positive because people must have had lower numbers in there that that $60 of the stock's down and yet only $18.64 of value lost, don't -- something doesn't -- there is a disconnect to me. obviously i'm talking my book. i'm long baba. i think it's cheap i think right here -- i would even say if ant is valued less that's fine as well. but one other thing that's really important ant is -- they don't -- alibaba from the position of ant does not see anything in their income statement. s it only on the balance sheet, the value of the equity, right so that's -- this is just kind o

alibaba trading in hong kong, up about 8/10 of 1%. covid-19 cases are rising again in asia, even in places that have previously slanted the curve. here we are bearing the brunt of it, over the last three days we are seeing cases a 92 about 100, causing a lot of headaches for the government, in particular it has to do with the variant that was first seen in india. it is more aggressive, not surprising that we hollered from the world economic forum that is counseling and has to put front and center the safety of its participants. on top of that, adding salt to the wound, the hong kong and singapore bubble delayed yet again. it was meant to happen back in december, looks like you and i will be seeing each other anytime soon. yvonne: i am losing hope. this is one year after the circuit breakers and singapore. these headlines are not encouraging about where we are in this recovery, and the so-called zero haven economies that are focusing on going to zero number of cases. it shows how difficult it is in maintaining that strategy. certainly

shares of alibaba on the move.se to lows of the year, and almost one-year low after reporting an operating loss since going public the cause was the antimonopoly fine of bli b$3ilony chinese regulators "squawk on the street" comes back in a couple of minutes. stay with us labradoodles, cronuts, skorts. (it's a skirt... and shorts) the world is going hybrid. so, why not your cloud? a hybrid cloud with ibm helps bring all your clouds together. that means you can access all your data, modernize without rebuilding, and help keep things both open and secure. that's why businesses from retail to banking are going hybrid with the technology and expertise of ibm. i think you're going to like it here. umm, why is everyone... throwing things at me? look, as cfo it's my job to be ready for whatever's next. that's why i have my finance team, randomly hurl things at me. it's also why we use workday. it gives us insights, so we quickly pivot our strategy, people, planning, you name it. sorry, sir. i will aim straight at your nex

the good thing you could say, all of them are doing it, alibaba, tencent.hey're going to be on a spending binge. shery: which divisions are performing well for tencent that could help carry some costs? asked their bread and butter right now is gaming -- >> their bread and butter right now is gaming and content -- short form content, that is a dip from previous quarters because people are starting to go back to work, they're not staying home when games as much but the first calendar quarter of last year, the second were big surges in revenue for online gaming. the company is going to roll out more than 40 new ending titles this year to keep that pipeline brush, those are the bread -- fresh, those of the bread and butter but they will have to roll anyone's. spending -- revenue, not spending, the past is in four quarters. cloud division posted its strong as growth ever with sales surging 40% and 7%. but i cannot and this report without talking but the regulatory environment, the president talked about it on the analyst call and he said now they have done inter

mitch -- yesterday, a bit of a reprieve today and i believe the alibaba might be a part of that.nt to the upside. great story out of our team and bloomberg news, often activity, just watching that closely suggesting that you are either looking at traders protecting the downside, or some of these levels on the 9000. it could also just be simply betting that markets could fall from here, and also you move up. very quickly, you are probably looking at the big tech names. 3% up after 10 straight day of the client. -- declines. being added to the msci all country index, some changes in the index. have a look at this, tech index, we are down over 30%, roughly speaking from the peak. let's see if now is a good time to start picking up these names. let's bring in thomas quan. he manages $7 billion. harvest group, one of the biggest asset managers in china, overall, $190 billion. good morning, think of her coming on the show. thomas: good morning. david: i want to get started with the big names, the tech rounds whether that is alibaba, tencent, and i know you cannot stalk specific names,

set to have terminated its deal on alibaba's cloud. dow jones reports it bought servers from alibaba would end in the relation ship. alibaba reported slower cloud revenue after one unspecified top clients cancel its contract. bloomberg has learned that indonesian airline needs to read -- needs to completely restructure its business. it expects no more than 70 aircrafts down from 142, including low-cost carriers. only 41 aircrafts are currently in service, they are in initial stages of offering early retirements to employees. we have a big interview coming up, adam reynolds joins us exclusively to talk about the crypto strategy. this is bloomberg. ♪ look...if your wireless carrier was a guy, you'd leave him tomorrow. not very flexible. not great at saving. you deserve better - xfinity mobile. now, they have unlimited for just $30 a month. $30 dollars. and they're number 1 in customer satisfaction. his number? delete it. deleting it. so break free from the big three. xfinity internet customers, take the savings challenge at xfinitymobile

meanwhile, look at chinese tech giant alibaba shares falling this morning after reporting earnings theny delivering down more than 5%. delivering better than expected revenue, but a net loss for the quarter, first time in nearly a decade $2.8 billion anti-trust fine the chinese government slapped on the company weighing on bottom line since the ant group ipo was pulled last november, remember an alibaba affiliate $240 billion wiped off alibaba's stock price, but, guys, if it is time to move past the reg regulatory, regulators moving on to other companies, investors can focus on what the alibaba business is doing well cramer mentioned it. making money livestreaming, and something somebody else in the space, mark lori, says would be key to the next era of ecommerce. >> 20 years from now, idea going to a search engine and typing in toaster and getting 10,000 responses figuring which to buy is something we'll laugh at in 20 years it's going to take time with early stages now, but i think conversational commerce is today where ecommerce back in sort of the late '90s. >> you have to wonder t

meantime, tencent is joining alibaba and another company in vowing ramp up spending and contested areaschina's recovery. lots of risks in the internet space. chief asia correspondent stephen engle has been looking at this from hong kong. steve, what stood out? statement: tencent is down, below $600 hong kong a share, down $20 hong kong per share. investors are concerned net income and profit margins could be squeezed by this investment binge these big companies and tencent are going to spend. they say they will spend a large portion of incremental profits investing in contested areas. cloud services, gaming, short-form video content that has exploded from bytedance, tiktok and others. so they are spending millions to keep -- spending billions to keep pace with other companies. alibaba with a similar statement, saying they are plowing incremental profits enter strategic areas and this is all against the backdrop of regulatory uncertainty. chart nine 207 on the bloomberg terminal shows the extent tencent is expanding into new areas and that has investors concerned. because revenue was goo

it is coming down the pike like what happened to alibaba's ant.t know which units will have to be folded in. the report is saying that essentially, the company has to come up with its own suggestions before authorities tell tencent what to do. that's where we are right now. against the backdrop is as we have this antimonopoly crackdown in china, the big tech companies like tencent, like alibaba, mike baidu and as i just talked about, xiaomi, they are pledging to plow so much of their new areas, fundamental tech and infrastructure like ai and the like, these are areas that the chinese government, not coincidentally, while these companies -- once these companies to plow into. shery: let's turn to amazon. it agreed to buy mgm film studio. the deal sets up the e-commerce giant to become a more formidable force in the streaming industry and puts more pressure on its retail rivals by offering its customers more free tv and movies for the price of a prime subscription. emily chang delves into the details. >> the past is not dead. emily: the multibillion-

bytedance would service from alibaba when it ended the relationship.rted a cloud revenue after one unspecified top client canceled its contract. the account -- clout kitchen operator is looking to raise $200 million to expand business in india and overseas. sources telling us the indian start up is working with goldman sachs on the fundraising and is considering a valuation of close to $2 billion. rubble feuds -- foods prepares food exclusively for delivery. the inventor of the theory and believes they could be close to a breakthrough that would reduce the amount of energy needed to mind the cryptocurrency. saying that technical changes to the way ether is developed could be in place by the end of the year. the changes could see the energy use dropped by 99%, providing a boost its price and making it more attractive than bitcoin. house linda: some of the stocks we are tracking. it is under pressure. it has enough financial resources to continue. the pandemic nearly wiped out its cruise business. they are planning a major restructuring that may help it

the likelihood of alibaba for tencent bind the company -- buying the company.hese new anti-map of the rules, -- that translated into opportunities. that is where we are actually adding small positions to add to our bond portfolio. shery: teresa kong, great having your insights. here is a quick check of headlines. wework founder adam neumann is set to see his payday grow as the company plans to go public through a spac deal if successful. he was awarded shares worth more than $245 million at the current price of the acquisition, which is expected to merge with the shared office space provider. the extra stock was awarded to him by softbank in february as part of a settlement agreement over his 2019 exit package. pay tm is planning to go public in what would be india's largest if you ever. bloomberg learned india's leading digital payments provider is aiming to raise about $3 billion in an ipo late this year. they are backed by investors including berkshire hathaway. they are targeting a $30 billion evaluation with morgan stanley the leading contender to run the

in the premarket, we are getting alibaba earnings.ind, that conference call a lot more important. that is kicking off now. keep in mind, a lot of people not only want to see what is going on with alibaba itself, but ant group. premarket. tom: thanks very much. it is important that we have good conversations. we did that this morning with the gentleman from queens college cambridge. let's listen to dr. el-erian. >> the big message of the huge data miss come up yet on friday or yesterday, is that when there are structural changes going on in an economy, it becomes very difficult for economists to forecast with any degree of accuracy. tom: really can't say enough about that conversation. look for it in its entirety. lee got heated on central bank theory. always generous, dennis gartman joins us now, with the university of akron. i've got to start with the market reaction here. you and i know this is not a correction. it is not a bear market. it is a little bit of what the french call -- what do you do when you get this cacophony of event

the company joined alibaba and pledging to boost spending. hyundai up on the week 1.5%.sang very much a focus. another key risk we are watching, given reports we have seen how the financial state of a company may be. shery: our top story -- the u.s. proposes a global minimum tax on corporations. the treasury department is urging countries to agree to a 15% tax rate in a bid to end the country luring companies through cheap rates. let's get more from tax reporter laura davis. laura, it looks like u.s. is moving closer to the right that was discussed at the oecb. what are we expecting other countries to do? lara: other countries were talking about a 12.5% rate in the u.s. offer gets them a little closer and could propel the negotiations forward. they had been stalled under the trump administration. janet yellen brought the proposal for a 21% global minimum tax for u.s. companies and said ok, for other companies, -- for other countries, we could agree to around 15%, closing the gap between what u.s. companies and other companies would pay. this could speed up talks. they ar

it will likely cast a shadow over alibaba's business for some time.or ways to gain exposure to the recovery in earnings when england's hotels and pubs are allowed to reopen? johnson service group's laundry service covers everything from bed lend institute to cloth napkins. guy: no skin in the game here when it comes to johnson service. that's the first thing we need to make clear. katie koch, goldman sachs asset management, this is the great indoors. that is the great outdoors trade. this is the great indoors trade. basically, we are allowed back inside on monday, and as a result of which, there's going to be hotels open. there's going to be all this kind of stuff. so maybe this is the way forward. alix: do you guys all have washer dryers and houses, or do you have laundromats? guy: we stick at all outside because it is really dry and warm here, so things dry really well outside. i am being sarcastic, obviously. [laughter] alix: but you are british, it is really hard to tell. [laughter] guy: that could have gone really well. you guys are much more eff

when china gets involved in situations like this, whether it happened now or things like alibaba with the chinese regulators, you see quite a dramatic a selloff. in particular when this part of the market moved up so much last year. i think perhaps some of the worry, some of the noise is starting to worry investors, and the last moves have started to pare back a little. annmarie: you focus on equities, and when you see statements like this from china, doesn't change how you think of equities committed -- connected to commodities? hannah: we don't typically invest in mining businesses because of capital expenditure, but if you have interruptions like this from china, and i used the example of alibaba, it is a good one because earlier in the year when they fought that fine, you saw dramatic selloff, companies like tencent came under pressure as well. when you get these interventions from chinese regulators and so forth, it can create opportunity to invest in companies. high-quality in a more reasonable valuation and perhaps you might have otherwise seen. manus: hannah, we will dig more

shery: bytedance terminated its deal to store international date on alibaba's cloud.ght service from alibaba than ended the relationship. earlier alibaba reported slower cloud revenue after one unspecified top client canceled its contract. cloud kitchen operator rebel foods is said to be looking to raise at least $200 million in new funding to expand business in india and overseas. the indian startup is working with goldman sachs on fundraising and considering a valuation of close to $2 billion. they specialize in cloud kitchens or restaurants that prepare food for delivery. the inventor of ethereum believes developers could be close to a breakthrough that would dramatically reduce the amount of energy needed to mind the cryptocurrency. one says technical changes to the weight is developed could be in place by the end of the year and changes could see ethereum energy use dropped by 99 percent, potentially providing a boost to its price and making it more attractive than bitcoin. haidi: taiwan futures, a wild ride for stocks trading on the taiex. it will take some time

in china, alibaba posted quarterly revenue that beat estimates, but the e-commerce giant still had aet loss after aging imposed a fine for monopolistic behavior. it marks the end of an investigation, but the threat of future actions will likely cast a shadow over alibaba's business for some time. the biggest funder of fossil fuel companies, jp morgan, is pledging a 35% cut in carbon emissions for its oil and gas portfolio. the deadline for that is the end of the decade. last year, jp morgan agreed to align its financing activities with the united nations paris climate agreement. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm ritika gupta. this is bloomberg. ♪ >> let me preface that. we are not interested as long as there's anything about tax increases and it is dealing with infrastructure, that we start with the concept, what is the definition, and we are able to make reforms so you can build the roads not decades away. tom: the gentle man from california, mr. mccarthy, on an eventful w

. -- >> the alibaba founder went straight for the throat.language{ >> an antiquated financial system and bad oversight. within days, chinese authorities

thursday morning when you hear from alibaba, why does this matter it's the only chinese stock i really champion on the show and i bet it gives a terrific quarter. china is well ahead when it comes to the post pandemic recovery and alibaba should put up stellar numbers thursday evening, a stock picker's paradise. disney, door dash, airbnb report at once. they have the best story going forward. door dash lined up amazing partnerships during this pandemic and can make good money now but maybe not great money because so many people want to dine in person now that they have been vaccinated airbnb might tell a terrific story but the stock is expensive when the market turned against the highest flyers airbnb isn't business, it's pleasure and pleasure is booming. coin base is a mystery given the crazy crypto world, the business is booming. because it's a dreaded direct listing, we have no idea where the sellers are and what it's worth. i don't trust the stock price. friday we get retail sales, a barn burner. if it weren't for today's employment number, we might see a surge of bond yields with

>> listen, i have to just say one thing about alibaba. i hear you, but the concern that i have is the government, the chinese government, right? they could come in at any time and change the rules -- liz: yeah. >> so i think, you know, your story is okay, i for one stay away from baba just because i'm more worried about the chinese government coming in. now, for my picks there are places in technology, certainly, where you can pick up some bargains and go bargain hunting. look, there are a bunch of natures that have gotten absolutely wrecked. roku was down 53%. a nice bounce here today. you have to look at some of these names that got wrecked unnecessarily. some names deserve to be wrecked, right? others don't, they just get dragged into the fold. so you're right, you have to search. i would stay away from the five big fang names only because i think there's so many other places in tech that you can find opportunity, and i do believe names like roku, crowdstrike, i think those are good names of that have gotten beaten up. i also like the

is almost as good as alibaba.ut understand the trade war and understand the temper of times is not to invest in the prc but that one is a good one, too. brett in north carolina, brett >> caller: hi, jim it is a privilege and an honor to speak with you today. >> thank you. >> caller: i want to thank you so much for taking my call. >> okay. >> caller: cool. i would like your thought on bj's whole sale club. >> wait until thursday when costco reports because if costco doesn't do a good job, bjs will go down and nothing to do with costco and that, ladies and gentlemen, is the conclusion of the lightning round. >> announcer: the lightning round is sponsored by td ameritrade coming up, cramer is a magnet for finance. what big money ideas are being pulled in by his positive charge get stuck on success next. before we board. excellent. and you have thinkorswim mobile- -so i can finish analyzing the risk on this position. you two are all set. have a great flight. thanks. we'll see ya. ah, they're getting so smart. choose t

the companies and financial and alibaba were punished by chinese regulators after jack criticized thentry's financial system. the moves were seen as a warning to all chinese companies not to cross the communist party. jimmy and nine others pleaded guilty in court on monday to charges of unauthorized assembly in october 2019. supporters say the law is being used to silence all those who dissent from the government. >> not just hong kong, but the whole world is watching and people are very concerned. >> he is also under investigation for colluding with foreign powers and endangering national security, charges that can carry a max sentence of life in prison. katrina, al jazeera, beijing. barbara: at least 16 people have been killed by the most powerful storm to hit india in more than 20 years. the cyclone struck the state forcing more than 200,000 people to leave their homes. trees have been uprooted and the electricity pylons washed away leading to power outages in some parts of the state. 09,000 indian doctors with medical grees from russia, china, and ukraine are urging the government

[speaking mandarin chinese] stephen: jack ma had billions at stake from an impending ipo, yet the alibabaer cast caution to the side and went for the throat. >> [speaking mandarin chinese] stephen: with government officials in the audience, ma dared to criticize the chinese ecosystem that allowed his tech empire's largess, what he says is in and -- what he says is an

often pointing out that especially in the financial services sector if and financial and other giants alibaba pay and they're starting to compete with you know the state enterprise or they were in jack ma then things got went silent for some reason yes comical because it relates to statements from the white house and in washington the saying that you know. that sounds like antagonistic toward china like the like but but they're just listing companies on the exchange and now they're the huge component of the exchange it's really comical because they have the policymakers in d.c. i they're there they don't know what they're doing they're stupid or they're in the . some foreign powers well 8 like i said at the top there are lots of people moused squatting in their homes and they haven't paid their mortgages or their rent for the past year and pretty much you if you listened in on them they would have they would justify it by hating the landlords of the landlord doesn't deserve their money the landlord is the scum the landlord is the evil person and they justify it same thing here in the debtor o

alibaba seemed to fall out of favor of many funds. disney and other stocks dumped by stan rep.ler:'s fund, it is exposed to family parks and the cyclical nature may have been what caused it to lug behind. gamestop. need we say anymore? went on a wild ride with all of the meme generated rallies. we know melvin capital lost big time. 13f shows he managed to asset his position. one of the many funds diving into energy. added to an energy etf and a lot of funds were in and out of banking because that sector has tended to lag this year as well. shery: and other key theme of the last quarter. what do we know about how funds were impacted? su: it was archegos that caused the markets to rock pit you can see many of the stocks in the middle of that. viacom, cbs and disney plunged ruefully. that is when george soros's family bought. biontech, moderna, j&j. warren buffett berkshire hathaway closely followed. looks like he exited some core completely. a firm he had a 700 million position in last year. he took position in an insurance rocher that briefly picked up after hours as the 13f was

alibaba and the travails of jack ma, down 10%. jd.com, down about 17%.sage from jd logistics here is that, this is a longer-term play and they are the piping on the plumbing for what is arguably the biggest commerce story of the moment which is china's continuing appetite for e-commerce and they are well-placed to take advantage of that and that was a message they put to their cornerstone investors like blackrock and softbank. longer-term, the concerns about the technology environment and regulatory environment will continue even though the ceo says they have a pretty good run from here. anna: the company speaking to investors and garnering a lot of interest. what are their priorities? apart from the e-commerce story, what are the priorities for this company? tom: you won't be surprised to hear that in china, the competition in they logistics space is incredibly intense. it is a very fragmented market and they are competing against the likes of alibaba's logistics company. there are a number of other competitors as well. building market share is key and

major tech names including soft tank and alibaba reporting.ting the results from chipmakers. speaking of the chip crunch, japanese automakers will be reporting their results. mitsubishi and subaru will be kicking it off on tuesday. let's get it over to sophie with a check of the markets. sophie: this monday morning, most stocks are higher across the region. kiwi stocks off 10%. we are seeing nikkei adding 9/10 of 1% with names like gsc holding among the gainers today. we are seeing oil related names rise across the region. tracking gains we are seeing. u.s. gasoline futures nearing a two year high. that is lifting refiners across the region. fortescue shares rising for a fifth straight day, climbing to a february 25 hi. i want to pull up this chart on the terminal. you have the dollar back to square one after the jobs report on friday reinforced a dovish stance for the fed. pushing the dollar firmly below its 2021 uptrend appeared that is indicated by the line on this chart. there could be more stimulus ahead. biden is to host four congression

concerned because all of this follows the record $2.8 billion fine that was slapped on its chief rival alibabaituan poster that has created all this ruckus. it is actually a tang dynasty poem written more than a millennium ago by a poet that critiqued the then tang emperor. in xi xinping's increasingly autocratic china, even the slightest reference to authoritarianism could be a suggestion that the repression of previous times is potentially here to stay. if you are the head of a chinese tech firm, the repercussions could well go beyond the company's share price. we should keep _ company's share price. we should keep a _ company's share price. we should keep a close eye on that story. thank you for explaining that, sharanjit. apac program ahead. —— a packed. stay with us on bbc news, still to come: we speak to a legendary formula 1 designer who tells us why his latest $4 million electric supercar is worth the price. "the pope was shot, the pope will live" — that is the essence of the appalling news from rome this afternoon that, as an italian television commentator put it, terrorism has come t

long-term investor area we have seen exponential growth, particularly in the big names, such as tencent, alibaba. and i think we will see continuing opportunity there. but there will be bumps along the road. the economy in china is expanding exponentially, and i think it is at an inflection point. for investors to miss out on that opportunity, i think stoxx's will be heading south. yousef: what are the nuances to that? is there a particular sector where you would say that is worth adding exposure to reopening? if you assume all goes well with the covid recovery. guest: i think technology would always be somewhere that i would invest. i think it is a word used too blithely. i think in con them he -- i think economy is embedded in any business, be at the stocks we >> what the president keep saying in action is not an option. the american people expect us to do something, and it is my hope that these continued conversations over these next few days will be productive and lead to that clear direction. >> he has expressed to me and our group numerous times his desire to work with us to negotiate a pa

softbank boss masayoshi son specializes in investing in tech startups, counting the likes of alibabaasia business team are taking a look. why are shares down so heavily given its performance? you would think— given its performance? you would think that _ given its performance? you would think that is - given its performance? you would think that is a - given its performance? ifm, would think that is a normal question to ask, that 70% slide this week includes an 8% decline in its shares just this morning. part of it was after softbank failed to extend its share buyback programme, of course, outweighing those record profits posted yesterday, some $a5 billion in fact. many of its investments have, we know, been caught up in a text sell—off, its founder has always made very big bets on the future, we know what things like super apps, unicorns, artificial intelligence, but many of these are now facing very challenging times. take for instance softbank�*s type assets ali babar group, which is had been hit by a regulatory crackdown in china, and who can forget the implosion of uber in 2019,

its sights on china's e-commerce market rubbing and big-name sponsors that is that tries to take on alibabaedance attempting to generate 180 $5 billion into domestic sales by 2022 driven by its to domestic platform. i bet on retail could help it surpass a $250 billion valuation as it prepares for one of the most highly anticipated ipo's. public criticism and increased government scrutiny, the firm issued a statement of where it took cuts [indiscernible] a lot more coming up on daybreak asia and more on the increased crown offer. haidi: as we have heard this morning, blackstone has increased by 4.2% on the last offer as it seeks to win control of the operators. paul allen joins us. this is really interesting. blackstone already had the 10%, but the proposal -- star proposal in this combined casino operating entity. paul: yes, this is a fast-moving story. it is indicative and nonbinding, value of $12.50, pretty monist on the -- modest. crown has been unable to open the gaming rooms at the glittering new sydney casino on the waterfront here. the regulator refused the license after a damming in

alibaba down for the month the hang seng is about 7 percentage points away from the recent high. tells you the tech selloff in the u.s. had an impact on asian markets. nikkei up 1.1% for the month one stock which was in focus in japan in may was softbank. shares down 15% for the month. that was the big laggards. we saw a nice rebound in the mining stocks and commodities. a bumper month as a whole. now you to the european index. stoxx 600 not shown here brian, stoxx 600 is an all-time record high. strong month of gains for all of the european indices the uk index is up 1 percentage point. keep in mind what is happening with the pound we are studying the dollar it is about 1.42 that is capping the gains with the ftse cac is up. france is boosted by the luxury space. and the owner of gucci is up 15% this month that is one of the names we have been watching. xetra dax is up 2.4% you can see the italian and spanish indicies are capping off a really nice month of gains remember, the big theme for markets has been rotation out of growth and value a lot of growth in europe. that explains

annmarie: staying somewhat inditex theme, alibaba fell out of favor with a number of hedge funds.o you expect this trend to continue when you look at chinese tech given the clampdown we are seeing in that space? paul: it is a big question because the problem here is investors find it difficult to understand what can happen next in regards to government action we have seen in china. if we looked at it a different way and said the government wanted to raise taxes, the case in the u.s., investors can bring an estimate of what the new tax rate will be, put that into their models and adjust valuations accordingly. the difficulty is in many ways our things and political nature that are hard to quantify. they may give investors more visibility about what is to come next. [indiscernible] manus: we spend a lot of time talking to various people about the commodity super cycle. in the past quarter it was commodities that superseded everything else. commodities were the absolute alpha this quarter. will that continue, and how do you play exposure to that? vicariously, through equity, or direc

they provide cancer-focused health care service and is reportedly backed by alibaba health.ays it is considering an ipo on the nasdaq months after falling off a merger. bloomberg reported an offering by volvo's owner could value the business at around $20 billion. it would remain a major shareholder in the swedish automaker. next, china deploys more ships into the south china sea despite philippines protests. before an affairs secretary tells us what actions he will take. and more big interviews coming up. we will be speaking with the nissan ceo after the company's shares took a dive. also hearing later tonight. this is bloomberg. ♪ is is bloomberg. ♪ haidi: the philippines foreign secretary vowed to take -- after reports of more chinese ships in the contested area. he says he will not let any ships pass. he spoke exclusively to us. >> as far as i know, the latest maritime control is may 9, 2021, reported the presence of 287 chinese vessels. well, ok. that's news to me. >> to your point, we will need to dig deeper and get more information on that. what would theoretically th

alibaba is reporting the nikkei is down 2.5%. the four-month low big losses for soft bank down 8% despite the bumper earnings one index in particular in asia. that is the taiwanese index. this is the etf that tracks the index. down 6% in trading down 12% for the month of may alone. the index is in correction territory. of course, weighed down by semiconductor concerns as well as another wave of covid over in europe, i have to tell you the picture is not that good ftse down 2% strong declines led by resources and the commodities which had done well in the beginning of the week and now pairing back the gains. and burberry is down xetra dax is down 1.5% here the decline in auto a selling in that space. bmw down 4.5%. brian, the selling over here is broad based with every single sector trading in the red this morning. >> it's been many a day since we have seen all major indexes down joumanna, thank you very much. >>> staying with the market and your money delano saporu is a cnbc contributor antd tkicks off our coverage delano, last f

it goes toe-to-toe with alibaba so a major e-commerce player. logistics side of the business, they have warehouses, about 1000 of them, the transport networks, delivery, and the software and arguably, they put the piping in, the plumbing in for arguably the biggest consumer story we are looking at right now, which is china's continuing appetite for e-commerce. they have challenges. they are not yet profitable. i asked them about that. no near-term plans to build out their market share which on some metrics remains relatively slim and this is a very fragmented market as is often the case in china, and readily competitive. it will not be easy for them. they have their eyes overseas as well so watch for more expansion plans, particularly in europe. annmarie: expansion plans breaking out of asia and the stock is higher in hong kong. tom mackenzie in beijing, thank you so much for bringing us the interview. the palestinian prime ministers says a standup with israel and jerusalem remains tense. we will hear from him and the senior advisor to israeli p

my point, though, was, i went shopping at al you b alibaba fencing's not easy to find but you can get it at al ibaba. and crosswords, complex, but material cost of shipping's some supply channel logistics issues challenging retailers will also challenge the cross-border shipping and everything that will make that in business as people expand -- yeah doing things electronically. i started one of the first ecommerce site back in '93 a big pitch to retailers, helps you don't pidentify where it's strongest. an entire year to shift physical, identified hot spots, allows walmart and others to figure where to expand and invest hard dollars into those communities. in a digital space. >> a great point you mentioned macy's where delivery expense is still an issue. loyalty members, active customers down in the mid-teens. the street's wrestling whether or not this growth spurt out of the pandemic is erasing existential questions about department stores pre-pandemic has it >> i was actually a little surprised to see macy many do as well as they did look, one of my only jobs other than being an ent

but we have seen this big divide in chinese stocks because of alibaba and tencent, and companies likee been hit atlee. we are not investing in these companies just because of the political risk. instead we are going to look the companies that do semiconductor design and manufacturing, but may have been hit as a result of the technology that we have seen in china. alix: they have, but don't be semis also carry the geopolitical risk because of the china-u.s. face-off with chips that then spreads to taiwan? mark: i don't see that happening. i think taiwan is safe. yes, there's the possibility of some risk, but i don't see that happening at this stage of the game because both countries need to have a healthy taiwan. of course, china would like to take over, but it is not in the cost at this stage. guy: do you worry -- the semiconductor sector has had a really good run. there was some data on the terminal a bit earlier on, trying to recall exact with the numbers look like, but the market is getting very short of the semiconductor sector at the moment. do you want to own the semiconductor c