as alibaba's margins have come down.er headwinds are going to be the covid situation in china where retail sales plummeted in april. this current quarter could be worst in the first quarter because alibaba has refused to give a current fiscal year revenue outlook. this is where it ceo weighed in, he says in april, there's been significant pressure on alibaba's business. he is seeing improvement in the covid situation in shanghai, but considering the risks and uncertainties arising from covid-19, which we are not able to control and are difficult for us to predict, we believe it is prudent at this time not to give financial guidance. one side note, ant group contributed $1.1 billion to alibaba's earnings. ant reported its report card a month later than alibaba. this report card was from the calendar fourth quarter through december. it was a slight increase from year-over-year levels. there is a little bit of good news down the line of this report card from alibaba. is it enough to put a floor on the stock fall? shery: wha

alibaba, 1.9% to the downside. textures are under pressure in hong kong, looking alibaba, it is on this one report, ma has been detained. sending the stock prices to the downside. we have recovered, came back to these close markets, singapore, japan, also china, malaysia, vietnam, indonesia and india, all close. let's get you back to what's happening in los angeles, where haslinda is at the milken summit. give us a sense of them -- mood on the ground. haslinda: all of us, about 3000 participants, across financials of technologies about coming together to discuss the issues the world is facing today. on top of that, there also looking at what is turning around, concerns about growth. we have the ceo of citibank, saying when it comes to a possible recession in the u.s., she says consumers have a lot of savings, close to record highs. what she is worried about his europe. also, u.s. china relations, we are the likes of schmidt saying it is about technology, china is investing a lot in ai and that is leaving the u.s. a

coming up, a deep dive into alibaba's earnings.s is bloomberg. ♪ at cdw, we get if your network power goes down, your business goes with it. recording: thanks for calling, we are unexpectedly closed today due to... cdw experts can keep you up and running with an apc smart-ups lithium-ion ups from schneider electric. it offers cloud-enabled remote monitoring and three times the battery life, so you can get the performance and certainty you need to stay open for business. for resiliency at the edge, trust schneider electric and it orchestration by cdw®. people who get it. shery: time now for morning calls. morgan stanley says hedging costs are getting too expensive across major asset classes. investors should position for a peak in price swings. top targets include the canadian dollar credit markets. citigroup saying it's time to buy the dip in emerging markets. a trade looks appealing as valuations come down after the recent global strut -- global selloff. stata just say there bear market checklist is only six of 18 red flags. haidi

for march, we saw a revenue rise by 9% for alibaba.hey said they will be keeping a lid on costs and moving further into cloud and digitalization. baidu was a beat in the quarter. neither providing full-year guidance. we saw baidu stop that late last year and alibaba did not provide full-year guidance. we have also been asking today, where these results good or just not as bad as tencent? let's have a look at what we are seeing on nasdaq gold and the dragon index and hang seng tech index. both of these indexes have failed to break above the 50 day moving averages. there is concern about the impact of the covid zero policy if we do see zero lockdowns and how long it will take for this policy reform to come through. we also heard from uov, saying tech shares no longer enjoy high-growth, there will only be range bound trading going forward. that's according to the executive director in singapore. dani: thanks so much. juliette saly there. we will be speaking to jinny yan later in the program. u.s. secretary of state antony blinken has take

alibaba in double digits. senior analyst for consumer and tech joining us to talk us through her case for these numbers. what is the outlook for profit after these numbers? >> right. there are positives from the numbers last night. in particular, in addition to the revenue beat, there are some cost measures that have helped to narrow the margin decline, which is a great trajectory for the company, if you consider how the company could actually speed up the recovery post covid environment on mainland china. yvonne: they skipped the forecast, which is what the market closely watches out for. doesn't that send a bad signal and what is to come? >> it is difficult to do any projections at this juncture. really with the covid situation and the ongoing cases on a day on databases, i do not blame the company for not giving a firm trajectory on what they will be expecting. if it is not now, i would assume that when it does actually settle, you know, the covid situation in china, alibaba could update the outlook for the

alibaba is not likely to fa re much better.sensus estimate for revenue growth is in the mid single digits, about 7.1% overall. core commerce, the bread-and-butter of this company, likely to be under 5% revenue growth. this is likely in the fourth fiscal quarter, a $200 billion revenue company. 167 billion yuan would be from the core commerce. and as you just said, what has been hammered through april? of course, it was the lockdowns in shanghai, and restrictions in other places like beijing that absolutely hammered retail sales. retail sales in april fell 11% year-over-year. that is going to be reflected in these numbers. so what will we be looking for from the results? well, historic lows in revenue growth. what we will really be looking for is the projections for fiscal 2023 revenue, if they will be ratcheted lower. that regulatory overhang is still there, despite officials talking up the sector. haidi: and also talking up these platform companies more broadly, signaling that may be regulatory pressures might be on the way ou

alibaba amongst those, up 4.5%.he tech side lifting what going on generally, this is the hang seng tech index. we're looking at a broad-based markup. looking at tencent and alibaba to be coming out with revenue numbers on wednesday, at least for tencent. 4.3% or thereabouts. we're talking to the jp morgan chief asia and china strategist. that and more, right here on bloomberg. ♪ haslinda: welcome back then here are the latest business flash. elon musk oak speculation he could seek to renegotiate his twitter takeover, saying a viable deal at a lower price would not be out of the question. he continued to question the number of fake accounts on the platform, estimating they could make up 20% of all profiles. bramble shares are falling after tdc capital is walking away from a proposal to buy the company. the company says the board will continue to explore other options to maximize shareholder value. microsoft is planning to double its budget for employee salaries and boost the range of stock compensation it gives some

alibaba. >> my bedtime is 9:00 p.m. i have no idea what you're talking about. alibaba. talk us through the volatility there. >> yeah, a report out today, alibaba's home headquarters, the city, an individual -- gentleman jack ma.a soft rebound. that looked like a small dip. that is $26 billion wiped out and then coming back up. as things stand, the clarity that we have is in the price. i imagine we'll follow this story closely. >> thanks very much. giving us the latest on alibaba and his nights out. the e.u. will provide more detailed guide fans in the coming days on what companies can and can't do under sanctioned rules to pay for russian gas in rubles. the risk of moscow halting supplies. john, what were the key messages from this meeting yesterday of the energy ministers? >> well, i think the message is -- over how countries in the e.u. will be able to pay for their gas while countries try to present the united face, france's minister said the countries are not wanting to pay in rubles. but

this was bad timing for investors obviously in alibaba. the shares have recovered, they keep in mind, they haven't recovered from the carnage we have seen over the last year and a half because of the regulatory scrutiny on the entire sector, really. we are talking about $2 trillion with of market value wiped out over the last year, year and a few months of this regulatory scrutiny on the internet sector. ironically, at a time now when the government needs to growth from these platform companies, they need the employment from these platform companies and they need the expertise to food delivery from the companies like alibaba, jd, as shanghai is in lockdown and there have been claims that these people who are in lockdown, 25 million plus are not adequately getting supplies of food and supply. right now, i'm not saying the tables have turned on the government and the internet companies, but there is irony involved here. so this was a blip today. state media is essentially saying -- they are not saying it wasn't jack ma, they are explaining w

, what's your play here >> i think you buy alibaba i actually own it through an etf, pgj but alibabaecovered since jack ma made a lot of comments which regulators did not like in china. if you look at the massive growth potential inside of the cloud business for alibaba, that's going to be a con grungt line for what we've seen for aws, amazon. i think there's an opportunity here the $233 billion market cap is about 23% the size of amazon so i like being a buyer as we see the second largest economy in china come back online hopefully this summer. >> thanks for joining us for our three stock lunch. >>> an $80 billion bel air mansion went up for auction but the real action happened after the auction ended. that story next. your mover, rob, he's on the scene and needs a plan with a mobile hotspot. we cut to downtown, your sales rep lisa has to send some files, like asap! so basically i can pick the right plan for each employee. yeah i should've just led with that. with at&t business. you can pick the best plan for each employee and get the best deals on every smart phone. fortitude gold

. >>> alibaba and baidu are booming.op analyst tells us whether he thinks this bullish sentiment will continue. student. stujd. stay tuned ay tuned your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire it takes a village to support society and businesses have a responsibility to support that village. ♪ ♪ i am peter akwaboah, chief operating officer for technology, operations and firm resilience. when you think about diversity, the employee network group is fundamental to any organization to provide a community and a belonging environment for the employees. they provide an avenue to support employees and ultimately it leads to retention of the best and brightest. the employee network represents the community at large, and it provides a good feedback loop to senior management to make the appropriate decisions, which ultimately contributes towards the botto

alibaba, meituan dianping, dragging things lower. we're expecting a second straight quarter where revenue growth will be sub 10%, the new normal, maybe we will hear similar commentary from what we heard from tencent a week ago. there are ongoing lockdowns that will be the key focus on inditex the trader looking at what has been going on and whether we have been talking about with trivium has been saying the weather the premier had this meeting and why he had such harsh words on the economy, perhaps he is signaling something? david: certainly. it is worth pointing out the chinese policymakers rarely do anything abruptly right? you get guidance here and there and to trivium's point, we think this just drop by the way in our inbox, essentially the premier has laid the groundwork for abandoning this year's gdp target. on the lockdowns, this was coming through, shanghai will be allowing some classes to return to school from june 6, that is in about 10 days from now. rishaad: against the backdrop where we are seeing beijing on the precipic

certainly alibaba shares put pressure on the hong kong benchmark. volatile swings. alibaba shares declined 9% this after the chinese media reporting china suggested that the authorities had taken action against the individual named ma. however, major recovery came through after the state-run media made clear it wasn't ma as in jack ma the founder of the ecommerce giant. this is a sensitive area in sensitive times. frank. >> thanks, chery let's turn our attention to europe and julianna tatelbaum. >> reporter: frank, good morning. things in europe are looking up. modest gains for the most part in europe. upbeat earnings lifting sentiment. the ftse 100 trading below the flat line. down .40%. a march higher in sterling this morning ahead of the bank of england meeting on thursday. index has an inverse relationship with sterling that explains that performance a big earnings day let's highlight. the banking space reported 19% jump in first quarter net income o over 2 billion euro. b & p shares are 3% higher bp will have a charge of $24 billion over its exit from russia it

tencent, alibaba, jd.com in negative territory.re concerns about upcoming chinese actions, perhaps it will go against what they had promised to do. and that is what we are seeing so far. rishaad: absolutely. these are assurances which were also made a couple of months ago. not much has materialized. what we are seeing in the moment is some confidence coming back with south outflows from the mainland. we have a look at some of where the money has been going. tencent have been the biggest recipients. if you have a look at those were received a decrease, it is the likes there as well. so that is what we have seen of late. how much confidence does it bring? i suppose we ask a lot of people that. jp morgan global china summit of course, the forum to do that and bring together top executives and investors in hong kong. we've got our chief north asian correspondent stephen engle there. tell me something, steve, what is the buzz at the moment? stephen: obviously, what you were just talking about their giving a shot to the arm to some of th

shery: stephen engle with the latest on alibaba.cks, especially baidu reporting earnings, zto express relating the results, the company reporting a jump in first quarter process -- profit. semiconductor stocks missing. coming up, a founder says a policy is the biggest risk to investors. we will have more on that shortly and we will have more with global advisors. this is bloomberg. ♪ what's it like having xfinity internet? it's beyond gig-speed fast. so gaming with your niece, has never felt more intense. hey what does this button do? no, don't! we're talking supersonic wi-fi. three times the bandwidth and the power to connect hundreds of devices at once. that's powerful. couldn't said it better myself. you just did. unbeatable internet from xfinity. made to do anything so you can do anything. whoa.

if you think about the valuation destruction in alibaba it was well before we saw lockdown 2.0 or 3.0whatever i'm starting to get more constructive on the reality check that takes time in terms of china they have to let alibaba their message was received loud and clear and think the hubris that existed within that week two years ago has been completely dismantled and i think they're doing what they need to do domestically. >> even if there is a coast clear on the crackdown the delisting fears are still there and, of course, the china lockdown impact on the economy is still there, karen. >> yes, although the latter you could think of transitory used to be a word, right, for the covid shutdown but on the former, do you ever get an all clear? do you ever get -- >> no. >> you don't it's just the clouds lift and so for me, i'm done. >> all right, meantime, one of these names is seeing a major uptick and traders are betting today's big gains are just the start of a bigger rally. mike khouw has the action. mike >> so we're taking a look at alibaba which traded 2 1/2 times its average daily v

alibaba and baidu jump after a beet on earnings, giving asian stocks a much-needed boost. plus, staging a comeback. signs of robust consumer spending give markets a risk on mood with u.s. stocks poised for their first week in the green in two months. francine: the futures are kind of on the fence right now when you look at the ftse 100. futures are pretty much flat. dax futures are gaining 0.2%. i am freshly back from davos. we spoke to chief executives, the ones that have to do with supply chains, they are extremely worried about the next 12 months and see things get better only when we work through these supply shortages. tom: great to have you back. when it comes to the picture, we have the economic data out of china, industrial production slumping to the lowest level since 2020. the premier and president xi jinping seem to be at loggerheads. premier lee desperate to get the economy back on its feet and what that means for officials at the local level as they tried to implement policies. the read across from what happened in the u.s. when it comes to retail. macy's look

. >> alibaba all down 20% year to date it's been slow for chinese tech companies.rsold stocks are getting ready to bounce. they are risky, but if you've got the guts they could offer a reward and which ones are worth und tay sulbechhod shneinod's three-stock lunch. >>> time now for a weekly look at etfs making big moves this week we look at chinese internet etfs, $205 million of outflows in the latest week. the continued lockdowns to fight the spread of covid-19 that is hurting factory output that, in turn, is likely to slow economic growth and that is what's driving the action there and you have slowing output and a lower gdp outlook, as well despite those concerns, crane shares crane web etf and the largest track in this group is up 3% this week and let's come over here and we'll look at it year to date down 24% and this week a good one. the data come from our partners at track insight and more information available on the ft wilshire etf hub so what is next for these chinese stocks especially for the large internet names like alibaba, tencent and jd, all posted

at some point, and i think enabling on alibaba does make sense. i'm high and long from lower levels and i think it is a case where you've shaken out a lot of big institutions that include some of the smartest hedge funds in the world that we're talking about today. i think we're having the sell-off where you've shaken out just about everybody who is there. >> we're just get started here on "fast money." here is what is coming up next >> refiners looking fine that is the word from a top energy analyst as oil prices continue to jump he'll lay out his picks in the space next >>> plus, buries big bet the big short investor taking a bite out of apple. but he's hoping this one falls far, far from the trees. the details ahead. you're watching "fast money," live from the nasdaq market site in times square. we're back right after this. left to “find themself.” leaving you lost. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire don't like surprises?

. >> in 2020, there were reports that alibaba and tencent were interested in buying stakes in iqiyi.l possible? >> this is a rumor. there have never been any conversations with alibaba or tencent about investing in iqiyi investment banks. i was asked my opinion and my response is it is not possible. >> at the end of march, as easy placed iqiyi on the list of companies that could be delisted. at the time iqiyi said it was working on solutions to protect its stakeholders. how likely do think a delisting could be? >> i hope the dialogue between china and the u.s. will make some progress to resolve the issue. at the same time, we are looking at other opportunities to reduce risk. we are working on technical issues for hong kong listing. there is no specific timetable yet. >> give me a better picture of the chinese economy. >> the service iqiyi is providing is special. it is a little spending online entertainment industry. our business is not highly correlated with the economy. manus: that is the ceo of china's netflix star video streamer, iqiyi. he spoke exclusively to bloomberg exclusiv

the e commerce titan, alibaba was hit with a fine equaling 2400000000 euros for abusing its dominant position in the market. and that's not all the payment provider ali pay is to be broken up. the plan is 4 separate lines up to be created and part of the use of data turned over to a new joint venture, partly owned by the state. all of these measures a part of beijing's crack down on chinese tech firms, as the communist party wants strict regulations. according to a law drafted by china's cyberspace watchdog, government bodies ought to be given access to social media algorithms, which uses will be able to turn off. the secrecy of social media algorithms has often been criticized also in the us and europe. but expos worried the new measures in china will lead to posts that favor the potty and its values being pushed. while politically dissident content will be sensitive even more. more state controlled, sold at online giants on the only ones profiting from the digital revolution. is that the right approach or should it be uses who have control over our own data in a traffic jam at a bu

. >> in 2020, there were reports that alibaba and tencent were interested in buying states in iqiyi. still possible? >> this is a rumor. there have never been conversations with tencent and alibaba about investing in iqiyi investment banks. some people did ask my opinion. my response is it is not possible. >> at the end of march, the sec placed iqiyi on the list of companies that could be delisted. at the time, iqiyi said it was working on solutions to protect stakeholders. how is that going and how likely do you think a delisting could be? >> i hope the dialogue between china and the u.s. will make progress to resolve the issue. at the same time, we are looking at other opportunities to reduce risk. we are working on technical issues for hong kong listing. there is no specific timetable. >> giving us a better picture about the economy is looking at, what does consumption look like in china? >> the service iqiyi is providing a special. it is a low spending online entertainment industry. our business is not highly correlated with the economy. >> iqiyi ceo and founder speaking with blo

alibaba reported a better-than-expected 9% rise in revenue in the march quarter.umers turn to basic leads during covid lockdown. alibaba is a barometer for consumer sentiment because of its dominance in ages -- in asia's large retail arena. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. i am ritika gupta. this is bloomberg. ♪ girls... the chess club has gained an edge on our bake sales. we need more ways of connecting with customers, fast. i know some consultants with great ideas. can they help us improve our digital experience? absolutely. they've invested over $2 billion in tech like robotics and ai. that could really help us manage inventory. and boost our sales. and save us a ton of dough. who are these people? ey, of course. who else? as long as i can keep working from home. we all know nobody makes ginger snaps like i do. your ginger snaps are safe. this company will help us find solutions that are both high-tech and high-touch. a perfect hybrid, just like my ke

alibaba up by close to 3%.e nasdaq golden dragon index capping its first monthly gain of 2.6 percent since october, snapping the losing streak. we also saw jd.com within that chinese internet space. baidu inching up as well. we saw a rally when it comes to ev makers. it is up 5% after china announced a 50% cut for low emission passenger vehicles but a lot of that is optimism of this reopening. major chinese cities opening up further from lockdown restrictions on wednesday and they plan to implement a more pulmonary -- permanent infrastructure that may require nearly daily testing of citizens conducted possibly even by robots. we are joined by stephen engle. we are seeing some glimpse of what covid zero, the new normal in china could look like. stephen: china wants to find and detect covid cases quicker, before the virus spreads within a large community like shanghai and therefore prevent a lockdown and the economic pain we have seen over the last couple of months under covid zero. if you are going to maintain c

we have never had any conversations with tencent and alibaba about investing in iqiyi investment banksme people ora media did ask my opinion. my response is it is not possible. >> at the end of march, the fcc placed iqiyi on the list of companies that could be delisted because of the auditing dispute between the u.s. and china. at the time, iqiyi said it was working on solutions to protect its stakeholders. how is that process going, and how likely do you think a delisting could be? >> i hope the dialogue between china and the u.s. will make some progress to protect the issue. at the same time, we are looking at other opportunities to reduce the risk. we are looking at technical issues for hong kong listings. there is no specific timetable yet. >> give us a picture of what the economy is looking like. what does consumption look like in china? >> the service iqiyi is providing is very special. it is a low spending online entertainment industry. our business is not highly correlated with the economy. yousef: that was the ceo of china's netflix style video streamer iqiyi. gong yu speaking

and alibaba and 10 cent.uoduo among some of the biggest drags and almost 8% lower. >> thank you >>> my next guest says there are opportunities in tech right now, even though we may not be at a bottom joining me is founder and ceo of destination wealth management. what are the picks to you that jump out as really good opportunities here >> well, i think viewers are asking themselves are they still going to be ordering amazon packages, with even though amazon announced cautious earnings are they still owning amazon packages in a year, two year, three years? the answer is yes. a lot of people that come on air talk about what it's going to look like for the next quarter,b the next two quarters. i don't think that matters when you look at the long-term pieces look at a company like costco i think is in the right space sells things people want and need and at a lower price, which tend to be positive for a recession and look where the stock's trading down look at apple. i would imagine that warren buffett's adding t

they have never been conversations with tencent and alibaba about investment.response is it is not possible. >> at the end of march, there were concerns it could be listed because of the audit between the u.s. and china. the company said it was making moves to protect stakeholders. how is that process going? what do you think the end will be? >> i hope the dialogue between china and the u.s. will make some process to resolve the issue, but at the same time, we are looking for other opportunities to reduce risk. there is no specific timetable yet. >> give us a better picture of what the economy is looking like at the moment. what does consumption look like? >> the service we provide is very special. it is a low spending online entertainment industry. our business is not highly correlated with the economy. shery: chinese stocks could be set for a boost when trade opens in a few minutes after shanghai unveiled measures for the economy and said it would aid testing requirements. i feel like it is deja vu. we continue to see these measures that markets react really

alibaba at 87, i think, is on your screen right now.where that stock was a year and a half ago. while we have bounces on the shorts term i'm still very, very cautious on china and they're not out of the woods why the. >> to the extent it comes back online it's reassuring for the supply chain and a problem for a potential energy crisis. >> it is a problem, exactly, because if china does go back online the point you're making is there will be more energy consumption and that will be higher prices and that will drive energy prices higher which could potentially cause inflation, but i think the supply chain is starting to loosen up a little and what you saw from the earnings reports yesterday or this week from walmart and target, they're still suffering with the problems of the supply chain issues in terms of just getting the system it's like a siphon, right? it just takes a while to get into the system and even though shipping is back to 90%, as you mentioned, it will take time and it will not be resolved until early next year. >> what is

anything like alibaba of appeal at these positions >> we do not own that right now. cannot figure out what china is doing with the zero covid policy. maybe after it's confirmed for the third term -- i've rumblings they'll start to relax regulations on the internet companies. the problem is they do that, who says in a year from now they'll not just ramp them back up again? which means these companies are just for a while going to trade at lower multiples than they otherwise should it's fine. stock is only down 60% for the year i hoped it was up. >> appreciate it, man. thank you. >> thanks again. >>> mike and kelly, thanks for being here today kelly, see you at 1:00 p.m. today. mike, see you at 3:00 p.m. in the afternoon. >> thanks for having us. >> thank you we'll see everybody else back here tomorrow too. right now it's time for "squawk on the street. >> good thursday morning welcome to the treat street. i'm carl quintanilla with david faber and leslie picker. cramer has the morning off stocks remain on track finally for a winning week retail puts a few more gainers

time that 17, almost 18% move is a significant one, but go back two years and take a look at what alibaba has done this had a 6, 7$700 billion market value, still half than that. >> our country during the shutdown, amazon delivered product endlessly. did they deliver product curing that time? >> it's hard >> yeah. >> hard rain. >> hard rain >> when eunice will do her live shots in beijing, you will see a bicycle guy behind her that's about it. you can actually judge to a certain extent where the lockdowns stand by watching eunice's live shot she does it in beijing on friday, there were a lot more people around. >> yeah. >> i think that's -- you may want to trade eunice eunice's live shot. >> well, eunice, i think, wherever she is, seems to go out on the streets it seems it's a staged set central cast members walk by. >> they're doing a lot to try to stimulate the economy over there. first-time home buyers a host of different potential things that they're trying to do. >> how about in our country? we got a president out there, he's out there he's out there >> op-ed in the "journal" today,

. >>> still to come, upgrades for alibaba and netflix. "techcheck" is just getting started. you're a one-man stitchwork master. but your staffing plan needs to go up a size. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire lemons. lemons. lemons. lemons. look how nice they are. the moment you become an expedia member, you can instantly start saving on your travels. so you can go and see all those, lovely, lemony, lemons. and never wonder if you got a good deal. because you did. another crazy day? of course—you're a cio in 2022. but you're ready. because you've got the next generation in global secure networking from comcast business, with fully integrated security solutions all in one place. so you're covered. on-premise and in the cloud. you can run things the way you want—your team, ours or a mix of both. with the nation's largest ip network. from the most innovative company. bring on today with unbeatable business solutions from comcast business. powering possibi

china tech alibaba fell 53% in anticipation of the first hike in the last tightening cycle, while the fed raised eight times over the next two years from 2016 to 2018, alibaba was up over 250% off of those lows so all the things that people are saying if rates rise, tech can't work, biotech can't work, you know, we've been early on these and adding on weakness. we think we're nearing a long term inflection so just keep in mind that fear of the hikes maybe worse than the actual hikes themselves and some of these groups that have sold off because of the tightening cycle can now get bid and lead to good returns moving forward. liz: scott your method really quickly on how to buy stocks that are deeply discounted enough that you say it's attractive? >> so first we start to look at what the valuations actually are and then we start to look for the actual upturns from a technical point of view and from a macro point of view. is there a good story in there? the economy improving towards the end of the year maybe, and also, just looking to see where the buyers themselves are coming in, because

most of the large chinese technology companies, let's say alibaba, baidu, tencent, they have gigantic market values and they are very prominent in china. not as prominent outside as china as in china, and certainly not as prominent in the u.s. tiktok by contrast is not in china, but it is huge outside of china, in the u.s. and everywhere. what did tiktok do that enabled chinese-based parent company to do so well outside of china? shouzi: we think it is challenging to build a global company in general. but the best ones we have seen so far are ones that take very consistent global learnings and adapted them to the local countries they are operating in. you need to be global and local at the same time. it is something that we are investing in. for example here in the u.s., we have a very sizable team here in new york and austin, in l.a. and becoming more local is something we will continue to invest in. david: let's talk about the beginning of tiktok. what is bytedance? bytedance was the parent company. when was bytedance started and who was the founder of bytedance? shouzi: i was very

decline the most stocks of high-tech companies, for example, alibaba's papers fall by more than five also become cheaper in south korea and australia . ainr weakens the yuan against the dollar for the third working day in a row, the nevsky exchange rate of the chinese currency is beneficial for the exporter. now for the dollar give a little more than six and a half yuan. well, on the eve of the collapse, the main indices on the american stock markets lost more than three percent and returned to at the beginning of the year, among the majors, shares of electric car maker tesla, chip maker nvidia and software developer, were the most depreciated. and at the end of the issue, i will remind you of the exchange rate for today, the dollar is 67 rubles. here is 38 kopecks. euro 71 rub. 9 kop. and while i have this all on. discomfort and nausea sick and twists everything boils and diarrhea. we need a filter as soon as possible thanks to the millions of filtrum microphone like a sponge absorbs various bacteria toxins, helping to eliminate unpleasant symptoms filtrum style to bring order to th

not only that, alibaba has invested in two a.i. united states for their role in all of this as well. and that repression. so you look at the overall picture you have to realize if you are going to fight for the inequality here in the united states, you have to do so abroad, especially when it comes to china. >> gillian: we had enes kantor freedom on, nba pulled out of north carolina because they said the transgender bill was against americans, but now they are holding preseason games in abu dhabi, part of the u.a.e., a country where being gay or transgender is flat out illegal. >> right, and you can also be killed for being homosexual in abu dhabi. people are pointing to the hypocrisy, but back to china why people are afraid to speak out about it, china has $5 billion business when it comes to the nba, and a lot of investment, so again, i think enes kantor freedom has been a voice for this and shunned for it. if you are going to speak out against human rights violations, human rights are human rights. that goes for people here, goe

good stuff >>> after the break, alibaba is skoo soaring. we'll talk opportunities and risk when tech check returns after this another crazy day? of course it is—you're a cio in 2022. so what's on the agenda? morning security briefing—make that two. share that link. send that contract. see what's trending. check the traffic on your network, in real time, with the next generation in global secure networking from comcast business. lunch? -sure. you've got time. onboard 37 new people, with 74 new devices. does anybody have any questions? and just as many questions. shut down a storm of ddos attacks. protect headquarters and the cloud. with all your data on the nation's largest ip network. whoa, that is big. ok. coffee time. double shot. deal with a potential breach. deal with your calendar. deal with your fantasy lineup. and then... that's it? we feeling good? looks like we're feeling good. bring on today with comcast business. powering possibilities™. >>> the tstock is up big today. it was the slowest revenue growth tough macro conditions repe

so there are several voices claiming that an oil embargo can be imposed assessment post alibaba jury by the end of this week because you asked about the other countries here. there are they refuse their warning? voices are hungary slop achia check republic and also by guerria increased to a certain extent. ah, what might most probably happen is that they will receive exemptions phasing out clauses. there were some carrot and stick treatment, but so far to hunger and position has been a very blunt one. hungary is definitely the key country in order to reach a consensus for for such an island. barbara. so we are far from a consensus, but it looks like there could be a handling on different layers with surging prices on all energy resources, amid delivery disruptions. millions of people in the u. k. may reportedly be unable to pay their energy bills in the coming months to reduce expenses on hating. some british locals are now starting open fires inside their own homes. as our teeth shall a deep eskew reports. rising energy prices have been a concern for months, but now the reality is r

turning positive on the chinese stocks including the likes of tencent and alibaba. this coming after that on investable call sent shivers alongside the investment community. we will be getting there update on the ground. let's get you over to vonnie quinn with the first word headlines. >> new york city says it could mandate masks in public places if the covid alert was raised to high. health officials suggested medical grade masks and publics -- in public as there are rising cases. let me put in has issued a warning to finland and sweden over there planted joined nato. ukraine's foreign minister has ruled out potential concessions to russia. he says the eu faces a moral failure if it does not approve the country for candidate ship. >> this is the time for europe to go to the next level and legally enter ukraine and the eu integration project. >> the you plans to protect national security. there is more recognition of wrongdoing. export controls are playing a big role in u.s. policy following the invasion of ukraine. global news, 24 hours a day on air and on quicktak

we are looking ahead to alibaba and what they will tell us about the overall picture of the lockdown. we know tencent is slowing. the other big story here in asia was the bank of korea. trying to get ahead of inflation. the governor saying that that is their main target, to stabilize inflation, similar to what we heard from other central bankers yesterday. the fifth hike since the summer. the same time, upgrading the forecast and downgrading the global growth forecast. up 3% from this year. dani: thank you very much. there is even an opinion piece asking about if central bankers are telling us too much being clear about rate hikes to come. great stuff. elon musk is dropping plans to partially fund twitter. we have been covering the annual shareholder meetings. >> the biggest take away from the meetings, they did not receive enough votes to be reelected. recent filings show that he was one of the people speaking to musk as he was forming a decision on whether to buy the company. in 2018, when musk tried to take tessa private, silverlake and durban were the names that backed him on that

but mostly, it is alibaba because that is very exposed.of valuations and leverage. haidi: let's talk about buybacks. the chart shows the history of softbank buybacks. we have seen a lot of share price recovery being driven by the fact it has triple share buybacks to $1 billion as of march for still slower than what a lot of investors had been hoping for in terms of guidance given back in november. we are seeing sony, toyota doing bigger buybacks, do you think we could see softbank [indiscernible] ? kirk: i don't think so. they could always change focus. but the capitals that they do have, they have been very aggressive about investing in vision fund two, and the buyback was sort of on the back burner. when they announced it come at the discount was widening and they wanted get a little bit of a punch. but what has happened is, and vid -- invidia was how they plan to pay for that and that deal collapsed last quarter its own now, you have a new plan where they are going to list arms and we believe proceeds from arms is softbank's preferred w

dragon index closing, capping a monthly rise for the first month since october, positivity also from alibaba in china, loosening virus restrictions, all positive factors for equity markets opening in less than one hour. kathleen: let's move to large chinese cities including shanghai, opening further from lockdown. lands are afoot to implement a more permanent covid testing infrastructure that may require near-daily testing of citizens, possibly by robots. we are joined by chief asia correspondent stephen engle. a big, big project. i wonder if it is going to stop covid. it is certainly going to put people to work, building the testing systems and may doing testing. stephen: tens of thousands of these kiosks are being erected right now across china. want to prevent the spread of various variants of the coronavirus into cities. that caused the lockdown because of the zero covid strategy. this is spontaneous celebration that we are seeing now, at midnight last night as shanghai is emerging from its two-month lockdown in the economic damage caused as a result of that, as reflected in pmi's annabe

alibaba about 6.8%. 1.5% representatively.are at the highest levels in just about two weeks there let's cross over to china market correspondent. we had that turn around when it comes to chinese tech. this is providing further support >> yes, exactly. what i would say is it doesn't take much to see the stocks rally. 6% in a day. it does take a lot more to see that the rally holds the key comment from them is that the government vows to support the development of this industry. we're soon on details. this is very similar to what he said in march. again, no plans. how does the government plan to do this? are they going to be any rollbacks of the regulations that we've seen since the i.p.o. was cancelled? is there anymore coming on the monopoly front. it's been a word used repeatedly. chinese does not support mo top in police even if it supports the business center. it will be a travel and arise situation for these stocks where we saw a 6% gain in the hanseng index, i'm not sure what we'll see. haidi: we saw j.p. morgan upgrade t

right now also feeling it too, it is stocks like alibaba down around 5% as well. and of course, haslinda, you are live in manila. a former philippine dictator's son winning a landslide. give us a sense of what the feeling is on the ground. haslinda: well, fair to say that people have spoken. in fact, it has been such a massive victory, at least when it comes to the preliminary counting so far, were talking about garnering more than 30 million votes. that's more than double what his closest rival has secured. and of course, more than what did at the last election, so a massive victory for marcos. it all depends on what policies are implemented and how much clarity he can get to the markets. rishaad: absolutely and that's it. good time to get a sense of the spirit were going to bring an end live strategist mark cranfield. mark, were not catching a break here, are we? mark: no. it's a continuation of a negative theme, which has been running for some time. and we are certainly in the capitulation stage now, where people are trying to adjust portfolios, trying to get r

. >> yep i wanted to hit alibaba.there was a time we would have gone right to it it's up and up nicely, 8.4%. this is a stock still down 25% for the year even with the rise today, not to mention last year, which was horrible for it, so many different headwinds, the covid lockdowns being the latest, changes in terms of the regulation of technology companies with a focus in part on the company's founder, jack ma along the way but it was a better quarter than might have been expected, at least when it comes to ebitda and ebita. a couple notes i'm looking at here from analyst who is follow the company. cloud revenue, up 12% year over ear, unequivocally down 30% year over year but up from -- higher, i should say, than what had been anticipated. and we've talked a lot about the shellacking these shares have taken, a $240 billion market value not long ago, they had a $700 billion market value. and that has impacted softbank, which we've also talked about. they own 25% of alibaba roughly, so softbank in part moves along with

yankee hercules, nice keep didn't for we've heard about this freeport in luxembourg, before is it like alibaba? if you go up to the cave and say, open sesame and a wealth of treasures appear via v, we wanted to see what's there for the thought. how is it stored? is it cleared through customs who control of that sort? is there tax evasion? by here while the owners, i think the ang tumor, the committee eventually received an invitation to the luxembourg freeport. in february 2018 is east and bunker, and then it looks like a bunker nor were present seen, but we couldn't see what was stored there been. ah, i was curious that i said i got i left with many more questions than i had before. i see and the answers were very few and far between sia sash bailey, an international agreement on the disclosure of bank account data went into effect in 2017. since then, it's been much harder to hide money in banks. investment in ours and other valuable collectibles has been increasing. and these objects need to be stored. this is danny shortish. it's not just switzerland with customs warehouse as me listen, sh