and one of those is baidu. i think baidu is a buy right here the stock is down 50%.s outside of the scope of regulatory impacts right now i think it's akin to a google in the u.s. here. driven by search engine but a lot of shots on goal with a.i. technology, cloud, economists driving their semi chip business sales growth last quarter was over 20%, mid to high teens greeting for the next three years. i really think baidu, if you're going to pick a stock or a sector in china right now, baidu is the one to buy. >> ari, there's also the contrarian take that a slowdown in chien a&e's economy will push the chinese not to implement such strong regulation what's your hot take do you think it's time to dip in here >> i would file china in the too late to sell but too early to buy category with that said just given the broken trends, though, it is an area we would still prefer to sell on strength rather than buy on weakness. and if you look at the ishares large cap china etf, it's ticker fxi, it was turned lower recently from 48 to $50 resistance that's the upper end of its ra

again, baidu is spending and needs to raise money for its ai ambitions.n engle they in hong kong. bonds are recovering after a rescue package was unveiled on wednesday. we recap the months of speculation over the company would have to be sold. let's bring in rebecca williams for the latest. what is today's episode in the drama? rebecca: confirmation of the story bloomberg had yesterday about this plan. we have more detail now. effectively, we will see the state bailout a group of strategic investors who are going to inject capital and shift the shareholding structure. they are not going to inflict losses on bondholders. a little bit of clarity that has emerged overnight. of course, it's intending to post record losses. $15.9 billion of losses toward the end of the month. shery: what does this mean for offshore bond investors? rebecca: absolutely. that's really what investors are looking at. they have said they are not going to allow any losses. they've been paying their bonds on time. however, that 7.7 billion capitalization cannot be used to pay off thos

baidu is repositioning itself.t launched as a search engine, the search engine if you will, the google of china but really transitioning more into artificial intelligence. ride-hailing, the cloud services and autonomous driving and the like. it needs some money to be raised there. they are tapping the global bond market and there seems to be some demand. >> that was stephen engle there. you can get more analysis and context when it comes to china's crackdown on its tech giants on redline china. earnings coming in. the casino operator -- they have not declared a final dividend post share. impact numbers coming in at 106 t .4 million. that is slightly higher than expectations. that is much worse than estimates of 103.7 million. they are saying that they are continuing this conflict. the stock to get a bump up. we heard that they were going to commence novation she asians -- negotiations. you can catch that interview at half past 2:00 p.m. here in sydney. quite coming up, nvidia shares on the move after the largest u.

but you also look at companies you mention baidu, a chinese quip, waymo has their eye on this who isnseat tesla here. >> our contention is there is so much intelligence and dollars working on this problem, and it's not a finite end state. so elon i think rightly talked about nines of reliable, 99.9% of the reliable pb, or 99.99, or 9.999. the goal is obviously to make these systems as fool proof as possible over time it's a continuum it's not like we wake up one day and someone announces full self-driving they get better over time. and hopefully regulators get more comfortable approving and allowing for full self-driving at level four, level five to take effect. so i would say 0.1 is not it's not end state it's a continuum .2, i don't think anyone outright wins. i think the history of technology and automobiles is that first movers on air bags or anti-lock brakes, >> right. >> command a premium and everyone else ultimately follows at some point in time. i think that's the same with automated driving. >> our thanks as always, tony. have a great weekend dee, go ahead weekend to you as

what does that mean for baidu's future? that remains to be seen.t spots we can expect going forward? matthew: fortunately, the core businesses are in a strong position now. it did take a hit last year when the pandemic hit, when advertisers put back on spending, but that has bounced back to strong double-digit growth for the rest of the year. the core business is really healthy. we have the drag from the investments in autonomous vehicles, investments into their video streaming business, so that would drag on the profitability, aside from the core business being very strong. haidi: our senior and analysis from bloomberg intelligence. up next, the pboc facing calls to cut interest rates as the delta variant spreads. we will get the latest. this is bloomberg. ♪ haidi: this is daybreak: asia. vonnie: the taliban have seized three more provincial capitals and a local army headquarters. officials say they control two thirds of the nation, as the u.s. and nato finalize their withdrawal, following decades of war. it raises questions of how long the afghan

with baidu and others, the ability to access direct listings and ipo's from other markets and accessf capital is important and i think already having constructive dialogue and construction with policymakers, how do you build bridges and work with the ecosystem? so i'm optimistic on the potential for future ipo's and a lot more of the accessing capital for companies in india so i'm quite optimistic, but again, it's less about getting into the crowd or caught up in the ebbs and flows. we have a long-term fundamental view on the country and there are really interesting founders that we are excited to back and continue to back in the country. haslinda: we know b capital has a speck in the u.s. is it imminent or are you in talks? what can you tell us? >> i think more broadly, what we are seeing is, broadly for the ecosystem, whether it is india or southeast asia, there are different groups of capital that have emerged. it is a maturing of the ecosystem and part of the world. i think you are going to see a lot more listings and ipo's happening and that is exciting for the ecosystem. this i

baidu issues a two part sustainability deal.igh-grade debt fueling the action earlier in the week with investors piling in despite total sales missing estimates. the junk-bond rally losing momentum with issuers offering higher interest rates to lure investors. still with us are greg staples, matt brill and brian railing. one thing i found interesting wasn't underperformance of investment grade bonds, especially given the fact that this seems to have been a sweet spot not only mystically but internationally. brian, what is your sense behind the meaning of the underperformance of newly sold investing grade bonds? brian: i'm a bit of a surprise. the market is still healthy, there is demand there. i would expect the lull to be temporary, probably just some concerns about the risk appetite with delta. our expectations here in the u.s. is that we will power through, it will not be as big of a dip as some are concerned about. lisa: brian, is this a buying opportunity, do you sense more skepticism? greg, were you weighing in? greg: it i

jackson: that comes down to what happened in jackson hole, but we talked about baidu. airbnb was also 12 slowest forecast. you are also hearing it from oil commentaries as well. flagging how oil markets could be impacted from the delta variant. specifically talking about china demand as well, could actually shrink on the back of what we are seeing on the mainland. david: i guess how they actually moved very, very quickly, i guess, to contain some of these hot spots. we were talking about how they are looking to keep an outbreak from getting bigger. you get one case, and suddenly we are talking about the world's third busiest port suddenly looking at a partial lockdown. he had the shanghai port. just watch what happens very, very closely. cost pressures and supply chain disruption. that goes into the inflation conversation. yvonne: let's bring in our strategist with the latest. do you think this bond rally has ended? >> possibly in the mid part of the curve. my colleague had an interesting piece out earlier today talking about central bank holdings. obviously, it has be

what do you think of other entrants like baidu and chamblee xiaomi who has signaled interest in enteringce? toliver: i think they are trying to enter the market because it is a trend that is very surging in growth, so they will try to grab a pie in the market. but a lot of these technology companies are trying to do it as a way of corporation first. making a car is complicated, in comparison to making a phone. the supply chain much bigger. you will see production problems. it is hard to commercialize a car. so these companies are trying to ramp up, and their niche in the market is probably more on the technology side than the car. yvonne: toliver ma, thank you. some other stories were watching, this ministry will announce the formation of a new cabinet for malaysia. he is currently chairing a covid-19 panel which is considering proposals to ease restrictions there. indonesian regulators are reportedly weighing in new rule which would ban or reverse stock splits within 24 months of an ipo. rishaad: and to stay with the southeast asian theme, the bottom five of bloomberg's latest covid-res

and those already listed, alibaba, baidu, and so on. tom: how should we be thinking of how the act will play out for these chinese firms listed in the u.s.? julia: the bar has been raised significantly. the sec is not green lighting any ipo's by chinese firms. this is in response to what happened basically in china, where a cybersecurity review was announced just a couple of days after it listed in new york. right now, chinese companies are starting to enhance the disclosure and basically putting the risks they face and the risks to the structures they use, offshore structures, they are on the front page of the prospectus now. will that be enough to pass the test? we are not sure yet. gensler did not offer many clues into how long this would last. tom: certainly the mood music of what we are hearing from chinese officials, maybe they are more willing to engage with u.s. counterparts. we are hearing of reviving of talks with chinese officials. what more can you tell us on this? julia: chinese officials are looking to revive these talks.

exited the positions it had that included viacomcbs and a lot of the chinese adrs just tencent and baidubly add added to his position in amazon. then there is billionaire warren buffett. we always look to what his firm is doing. because of his long-term profitability and his value strategy. they cut their stake in general motors by 10% in the second quarter. notable because it is the third straight quarter they reduce exposure to general motors and they had held the stock for nine years they added a position in gold and wrapped up the cobra stake and a spinning -- he sped off a merck spinoff. and biogen in particular. david: it looks like these investments are tied to the pandemic. here's the question. what are these big trends they are seeing? guest: while we are seeing is the pandemic still very much favored. for instance, we saw chase coleman stiger global take big positions in doordash. we also know they added to its position in tell of -- in pellets on the stationary bike that took off during the pandemic. these are very much plays on people being locked down and staying home. we al

baidu gaining almost a percent, while jd.com is still gaining after hours.being helped by the fact that arc's cathie wood is saying she is more optimistic than pessimistic in the long run. wood spoke to bloomberg about what has changed. >> we have been pulling out of china. we started last november, after the debacle around the amped group -- ant group ipo and banishment of jack ma. we saw signs that the government was going to get tough on companies. companies which were more than unicorns, they had exploded onto the scene, and have become so powerful, as had their leaders, that they almost seemed to be threatening the government. at least that seems to be our take on the government's response. we were a bit cautious, pulled away. our flagship fund moved out of most chinese stocks, i think we were out probably late april, late may. you never know 100% of the time. i think the online education, nationalization there was a real valuation killer for the market. i think the market will be under pressure from a valuation point of view for a long time, because th

higher on the percentage basis than the dow and s&p we are seeing baidu and chinese companies and moderna tesla all doing well with all of the futures up. >>> speaking of china, their recent crackdown on the technology sector has turned one former stock market darling into one of the world's worst stocks in july. before last thursday's bounce back p, mfirm tencent got a bounce in july it wasn't just that company. nine of the ten destroyers of the capital were big chinese names. metyuan and alibaba and pinduoduo. is this fear, perhaps, overdone? joining us now is managing partner ben harburg. ben, good to have you back on the program. hard to read i think the risk and tell me if this is wrong, but the risk seems to be you invest in a company you don't know if tomorrow the headline from the government is going to be about your company or your ceo they come out of nowhere >> it's actually not as complicated as that sounds the reality is if you look at the company and company basis and sector by sector basis, it is easier to determine where the trajectory of things is headed a company like di

whether you think about alibaba group holding, baidu, a whole lot of other companies, didi global, theg service, which became the subject of a data privacy investigation here in the u.s. there are specific industries that have issues. there is a food delivery service that has been in the crosshairs of regulators. you could point to a number of other industries like that. today, again, it is online games and center. matt: dave wilson talking to us about the aftermath of the latest china regulatory decision. coming up, damage from hurricane ida could cost insurers $15 billion, not to mention the tragic human impact. we will discuss that. this is bloomberg. ♪ president biden: now i am here with my senior advisor and boy who knows louisiana very well. cedric richmond. i will make a brief statement and then go through and tell you what we are doing, and then hear from all of you. i know that you are busy as the double -- devil. i know you have a lot to manage in your states, but i want to hear from you, we both want to hear from you. we know hurricane ida had the potential to cause massive

we're tracking declines in indiana names we're following throughout the volatilvolatility including baidu and pinduoduo. still more than 50% off the recent highs and one of the efts that tracks those names is poised for its seventh straight weekly decline which would be the longest weekly losing streak for the k web since its inception in 2013. >> i'm glad you had to pronounce those names and not i. >> it is easy, i don't know why i screwed it up. it is right in front of me sorry for those that are watching >> stuck the landing love it. >> let's zero in on biotech. a couple of the sector etfs telling a very different story ishares biotech etf up 5% over the past two months while the s&p biotechs spdr is down almost 7% all this as biotech grows in popularity with the reddit crowd. moderna one of the top mentioned stocks there here to help separate the winners from the losers, eliethia young, senior biotech analyst at cantor fitzgerald thank you for joining us appreciate it. >> thanks for having me. >> let's delve into why one biotech etf would be so different from another i mean, i think t

baidu traders are optimistic mike, what are you seeing? >> somewhat optimistic, one could say.oday we did see calls outpacing puts two to one. the options market is implying it could move 8 1/2 dollars. that's a little over 5% of the stock's closing stock price. there's significantly lower, actually, than the average over the last eight quarters. it moved about 7%. a little over 1,800 traded at an average price of $2.60 a share buyers would need to see the stock rise by about 4.2% or so by the end of the week to break even presumably, they are expecting an upward move of a little more than that. there is some bullish activity on balance, i would have to say, to the option market expecting a more mooted move >> thank you >>> up next, final tras.de when traders tell us how to make thinkorswim even better, we listen. like jack. he wanted a streamlined version he could access anywhere, no download necessary. and kim. she wanted to execute a pre-set trade strategy in seconds. so we gave 'em thinkorswim web. because platforms this innovative, aren't just made for traders - they're ma

detrick interest in chinese search in baidu. after initial searches when a w.h.o.mission was in wuhan january of this year, a second spike last month after beijing reject add w.h.o. phase two study and began churning out nor propaganda which since steadily flooded airwaves and cyber space. as president biden's 90-day intelligence community review on the origin's ends, its findings will likely only fuel the fiery war of words over who's to blame for nearly 4.4 million deaths. reporting for cnn, beijing. >>> some female activists aren't giving up on women's rights in afghanistan, despite the taliban's takeover's they choose to stay in the country to keep fighting. that story coming up. >>> stay with us. [swords clashing] - had enough? - no... arthritis. here. new aspercreme arthritis. full prescription-strength? reduces inflammation? thank the gods. don't thank them too soon. kick pain in the aspercreme. frank is a fan of fast. he's a fast talker. a fast walker. thanks, gary. and for unexpected heartburn... frank is a fan of pepcid. it works in minutes. nexium 24 hou

lincoln, it's all systems go they want alibaba, they live baidu. platform for agriculture. i say wait a second, we have no idea which kinds of companies the chinese government will eventually target. none, that's their point they don't want us to know do you want to invest in a country that invests in business for making too much money. that's self-defeating. i see one problem, the communist party, once their influence diminished, they look through the lens of class conflict any business could be targeted i knew those seven communist courses i took at harvard would come in handy. we got slower economic data out of china this weekend, thanks to the delta variant, i think they might need a stimulus package to keep their economy from slowing too hard we spoke to the legendary larry williams, and he threatens how well the chinese communist government and their economy are really doing he thinks it's not that good it could get worse before it gets better. unfortunately we live in a global economy with a strong correlation between the two economies, we c

earnings we're getting tonight. ebay, sonos and bumble and then tomorrow the real fun begins with baiduair been w. dash and sofy. to "the half" zblavrmts welcome to the "halftime report. i'm scott wapner front and center the everything rally and whether your money is about to take off in the second half tom lee tells us why he thinks that's the case when he joins us our investment committee here to debate that call, joining me for the hour, joe terranova. carrie firestone and jim lebenthal. let's begin with the check on stocks dow hitting new records. steve weiss, tom lee in a moment to talk about the everything rally. farmer jim is now mr. all-in, because yesterday he told us he is all in. and i wonder if weiss -- weiss is frozen. i thought maybhe

is general sense among some investors that things may be due for an upturn you've got alibaba and baidu impressive lehigher. for jd.com and pinduoduo both reported better than expected quarterly results. there have been a slew of reasons why companies have been hammered, absolutely hammered over the past several months, not the least of which is the more than an apparent effort by the chinese government and chinese communist party to crack down, regulate and stem the growing influence of those tech beheem ots we've lost half of the value since the record high in february is the worst over? that's what some traders are pointing to. there are other chinese stocks on the rise. casino operators, heavy exposure to macao this after they loosened some of their travel and testing protocols on those junkets from mainland china one more thing to point out, just in the last hour gary genzler said they will demand chinese companies trading here in the u.s. be more ransparent about investor risks because of government regulation. he made those comments during a bloomberg interview. if you look at th

other popular chinese names include jd.com, baidu, guys. >> these can be wildly held names.ou for that hedge funds feel the burn, the journal and leslie alluded to this has new details on the breakdown with beijing, reporting the founder ignored communist party warning signs for years. officials say he behaved like an american entrepreneur. our next guest thinks even so-called safe sectors like electric vehicles and semiconductors they could be hit next joining us now analyst and author jordan snyder thank you for being with us today. good morning there is so much opportunity in china which has attracted hedge funds and investors. but you think that no sector is safe i was thinking shifts with xi jinping's ambitions to make this a global player, even that is in danger >> thanks so much for having me on no sector is safe in this new era of tech regulation, which we saw start with alibaba in late 2020 and only accelerate over the course of 2021 you're right industries like electric vehicles and semiconductors, which is where the chinese -- which is where beijing is trying to s

alibaba, jd.com and baidu are shedding as well 3% to 6% on concerns about beijing's tech crackdown.ood also had some issues with the near-term possibilities for these names. take a quick listen. >> we have never said the chinese names are uninvestable what we have said is because of the social engineering, it seems, or re-engineering that's taking place in china that the valuations associated with these companies are damaged and we don't think they're going to go up any time soon >> she also said the way china nationalized its after-school education industry seared the memory and left a lasting impression remember, a lot of these names are down 40% to 60% from recent highs. >>> over to rahel solomon for a cnbc news update >> here's what's happening at this hour. the taliban breaking up another protest with gunfire this one near the airport in kabul where we see a long procession of cars and people carrying an afghan flag that's really become a symbol of defiance unclear if there were any injuries on the news, evacuating the thousands of americans still in afghanistan. and a look at

jd.com, baidu and alibaba are all in the green they're down 40% to 60 from recent highs and talking about a 3% rebound in k web today. one major investor is buying this dip, dan niles admits it hasn't been easy and he's catching the falling knife for more of what he's seeing, head to cnbc.com/pro let's get to rahel solomon for a cnbc update. >>> here's what's happening at this hour. as afghanistan's currency falls to record lows, a bank owner in the company says the taliban does not have access to the country's $9 billion in monetary reserves he also says some $7 billion is held by the u.s. federal reserve. americans fleeing afghanistan getting a warm welcome from friends and family so far most of the arrivals are u.s. military and contractors. as many as 15,000 americans still remain in afghanistan. >>> in new york, the sex abuse trial of r. kelly starts with prosecutors calling him a predator who lured women and children to find the truth they're going to have to sift through lies from accusers with agendas, they say. a wrapup of the first day hints at how each side will present its cas

baba, tencent, baidu, they are all in the red by about 10% each the new measures banned businesses from faking sales stats, posting misleading customer reviews, and hiding negative comments. and platforms they can't use data or other algorithms to influence customer choices today we got a peek into the funds that actually bought shares and are exposed to didi like tiger global. that stock is up about 4% today, but it is down more than 40% since its june ipo s.e.c. filings reveal funds including soros, tiger global and singapore sovereign wealth fund, where investors as of the end of q2 knew headlines that operations at the company slowed dramatically also worth mentioning tencent music, you see on the screen there, down nearly 12% after revenue fell short of estimates. and that is despite a big increase in paid subscribers and, carl, the pain continues, there has been this idea, especially, you know, across the world, here in the u.s. and china, that consumer and users are willing to trade privacy for convenience. the key in china is that is really started to change with the public incr

earnings we're getting tonight. ebay, sonos and bumble and then tomorrow the real fun begins with baidu, air been w. dash and sofy. to "the half" zblavrmts welcome to the "halftime report. i'm scott wapner front and center the everything rally and whether your money is about to take off in the second half tom lee tells us why he thinks that's the case when he joins us our investment committee here to debate that call, joining me for the hour, joe terranova. carrie firestone and jim lebenthal. let's begin with the check on stocks dow hitting new records. steve weiss, tom lee in a moment to talk about the everything rally. farmer jim is now mr. all-in, because yesterday he told us he is all in. and i wonder if weiss -- weiss is frozen. i thought maybe he was sleeping. it might be his nap time we have to the try and wake him up to get him back in the conversation so farmer jim, i guess you get it first today he is still sleeping mr. all-in are you up? >> well, it's hard to tell when steve is awake it's not that much different than when he is asleep but yes, i'm definitely all in >> i hope

jd.com, baidu, allibaba. china's shopping growth slowed to 4% in july.ast month's figure is far below the average of 21% growth for chinese ecommerce for the past five years for more on what it means for china and the world's economy, head to cnbc.com let's get our news update. >>> hi, kelly. hello, everyone. this is your news update at this hour satellite images show the thousands of people at the kabul airport seeking to escape afghanistan. forces are working to clear the airport so evacuation flights can resume >>> haiti, survivors near the epicenter of the massive earthquake are finding shelter in makeshift tents on a soccer field. rescue efforts continue around the region as the death toll remains slightly less than 1 1,300. tropical storm grace expected to hit haiti tonight with up to 15 inches of rain in some areas. >>> on thenews, desperate efforts to find survivors in hay t haiti and getting ready for another tropical storm >>> georgia's new voting law is said to impose voting restrictions that discriminate against millions of people, especially

results tomorrow after the close and we can end here on some of those chinese tech names like jd.com and baidu, also trading lower. kelly, back to you >> josh, thank you very much josh lipton. let's get over to rahel solomon now for a cnbc news update rahel? >> hi, kelly here's what's happening at this hour united nations is responding guardedly to taliban pledges to protect women's rights and not seek revenge on people who opposed it a u.n. spokesman saying the taliban must follow up with acts on the ground to show that it is keeping its promises >>> meantime, in wisconsin the fort mccoy army base preparing to receive refugees from afghanistan. the defense department predicts up to 22,000 people could come to the u.s. in the next few weeks. fort bliss in texas also being considered as a temporary site to receive refugees. >>> grace is moving toward mexico after dropping as much as ten inxhz of rain on haiti many people in haiti still looking for medical help and shelter after this weekend's mag tieu 7.2 earthquake. and tonight getting aid to haiti and helping thousands who lost their homesbac

tencent, down 15 baidu, 20% with others like didi just brutal charts here. not to mention the education tech names that lost about half of their value hong kong's hang seng index fell about 9% for the month, and that's not even saying anything about the kweb etf that trades over here. we have beenhere before with chinese gaming tencent, the obvious target, drives a third of the revenue from gaming. perhaps less obvious is that these u.s. companies that have been moving further into the chinese gaming system, because of the opportunity there, like a roadblock, shares were down 5.5% its china license has gone live and it does have that high exposure to the younger demographic, which beijing and the ccp would rather do their studies than become gamers and content creators. >> i can't decide or figure out, i guess, how much investors are supposed to care about this. cnbc's arjun carpel points out that the state media article that used the word opium for the -- it was pulled back, right? and then revised and reposted without that language, softened a bit. maybe t

check out shares of tencent music, baidu, didi and alibaba managed to end with gains after spending most of the session in negative territory how do you look at the moves, the move or the underperformance on a relative basis of alibaba. >> right, so baba got below that -- it actually traded down near 150 intraday before a quick reversal at that point it was down about 50% off of those highs and really we're at 15-month lows. some of this is getting to a place where valuation people -- you get to a place whereyou say, oh, my gosh, i didn't think i would see it here. if you look on a trailing basis around 17 times p/e. we've tried to handicap, we've tried to actually put the valuation of the chinese government here, and i think you really still have issues on headwinds. i think you can see a bounce here it's not all in back in the pool, and i think the same thing, the tencent media -- excuse me, yeah, streaming ultimately tme ticker is something i think is even more of a concern just because of the nature of that businessand it' more specific, even though they've also had such a leadership

foreign investors, joyce said, pete, for you, does it matter does it make some of these names like a baidue honestly, mel, i've gotten more and more concerned over the last year or two or more about some of the chinese names and because of that i have shifted just completely over to just options and the only reason i've done that is i feel much more secure, i know what my risk-reward is and i feel comfortable because of that. because when i'm looking at these as stocks, boy i'll tell you what, we just don't know and she mentioned a couple of different times there, she talked about the communism and the communist approach and so forth. when i heard that, it just -- it dawns on me once again that they can make decisions that maybe i don't really want to follow along with and doesn't make sense to me and because of that i would rather be in the options where at least i have the flexibility and i know exactly what my risk-reward is going into a trade. >> i think i'm listening to joyce and again i've been listening to joyce for a long time in emerging markets she's basically, what i heard, is d

tencent off 4% look down the list jd at 3.5% baidu off more than 5% we will talk more about china withe bass from hayman capital at 8:40 a.m. eastern the crackdown on china tech cont continuing if you are a u.s. tech company, i'm thinking that you're thinking this is great what do you think? >> maybe >> i don't think they want to say that out loud. >> unless you are uber and own a stake in one of the companies. >> that's true, too. >> the regulations they are talking about today are different from what we heard to this point things like you can't hide or lie about the reviews out there. okay it doesn't sound too terrible to crackdown. this is an overall big picture these aspects are less concerning than what we have seen before. >> some rules i like if we tried to propose these rules in the united states, people would go out of their brains. >> the rules from china. this is onerous and ridiculous stuff like this. it is a hard time fighting you cannot lie to customers on promote yourself over everybody else okay crickets >>> stocks to watch this morning. another one we are looking at is

we used with baidu but we shut it down.to chinese business -- >> are you looking for more investment? >> to china? >> yes. >> we are not really thinking about doing business in china at this point. >> what about partnerships with chinese companies because we know there is an investment from tencent being scrutinized by the japanese and u.s. government. give us an update on that front. >> the investment is minor. they do not really have voting shares. they gave up voting shares. they know we have a cap on the amount of investment we can make. in essence, your financial investment from one of their venture capital arms. and then they had some investment -- they have highly respected companies, including tesla and so forth. i am very confident this is a pure financial investment, nothing more than that. >> you are not looking for anything more than that with chinese partnerships. >> no. tencent has a very good network of distributing content. they are getting bigger for e-commerce. we would like to sell japanese products and a

this is in effect for the likes of alibaba and baidu.sh for the risks to b's clip -- to be disclosed in the companies' annual reports. much like the companies looking to list, they would have to disclose the risks they face on the various policy changes in china, and the risks their listing stages might also face, given that many of them use a vie structure. mark: how much will this impact chinese firms, and how much of it is priced already? julie: it depends. the ones that are looking to list, they've got a lot of work to do with bankers and lawyers in terms of amending their filings or making new filings and really beefing up the disclosures of the risks that they face and on what potential delisting threats they also face, given that china pledged to tighten the rules on overseas listings. we have seen risks relating to policy moves with little advance notice. as for the listed ones, they also face the other risk of delisting because it was said that the clock is ticking with regards to the accounting issue. this refers to china's ref

the soros fund management sold off all of those stocks, notably viacom, cbs, discovery, tencent, and baiduit looks like the entire position sold off. they picked up a large chunk of those stocks in the first quarter. soros also added amazon. finally, it looks like the love affair with tech may be over in that a lot of these terms -- firms seem to be selling tech holdings. haidi: it does look like investments -- does it look like investments tied to the pandemic are still favored? su: we saw stocks like doordash picked up or added by hedge funds. chase coleman, tiger global, doubled its position in doordash. another one doubled their position, also added to its position in pellet gun, zoom also -- in peolton, zoom also, and moderna was a big add for many funds. another big hedge fund added a new position worth more than $900 million. health care stocks were a big theme. medicaid insurers, another health care buy we saw in some filings. haidi: i am watching michael burry betting against kathy woods. we are seeing in these filings that psion asset management has bearish contracts against 235

chinese tech names buy baidu, also trading lower back to you all. >>> josh lipton, thanks so much for that let's discuss it all with scott wren of wells fargo. thanks for joining us. what's your initial take on the pullback >> i think it's all about growth bob hit the nail on the head whether you look at china, homebuilder sentiment, retail sales, even things like a tiny country like new zealand basically shutting down over one covid case, people are worried that there is some type of issue here with the growth obviously the market has doubled in 15 months there's a lot of good news priced into this market. so, as we just hit new record highs yesterday, i think when you see a little uncertainty out there, you'll take some money off the table. i think that's what today was all about. >> are you telling your clients to buy the dip as you said, it's not much of a dip. >> it's not much of a dip. to be honest, we would be happy to be a% or 7% pullback, or something like that, because we see it as an opportunity our earnings estimate for this year is $200 that might be conservative next yea

baidu swung to a net loss of $90 million in the second quarter after marking down the value of its stakequite sure technology. -- in a technology company. coming up later at 9:00 a.m. hong kong time, we will speak with a ceo about the companies earnings and plans to list its food unit in london and later on india focus, an mp who has become a thorn in the side of narendra modi. plenty more to come o shery: we are counting down to the start of trade in tokyo and seoul. samsung electronics vice-chairman jay y. lee said to be released on parole, jailed for a second time in january after a conviction on bribery charges. we are watching sk hynix after a downgrade from morgan stanley. the bank lowering its view on south korea's tech sector to cautious -- earnings are out. over in japan, coronavirus concerns underlined after it tokyo advisory panel. experts say it is impossible to control the spread of covid in the capital. toyota also saying that it is suspending its operations at its plant in brazil due to a shortage in parts. we aren't expecting results in companies -- -- we are expecting re

it added to shares of by do as well as -- baidu as well as chinese companies. have to deal with uncertainties to deal with regulation. i want to point out how badly they have been hit by the clampdown. if you take a look at his shares in didi, it lost 42% of the value and about 35% but where it was hit the most is education, online education. new oriental education, it lost in excess of 70 plus percent. that gives you the magnitude of how temasek has been hit. in my early conversations with temasek, it takes a longer-term approach. it sees beyond regulations. you will have to wait and see the risk appetite for temasek to hang onto these investments. shery: you can imagine how badly hit they must be given how big china is in terms of its overall portfolio. stephen: let me put --has linda -- haslina: let me put that in perspective. this is a company that manages in excess of $200 billion. that is down from 29% before but having said that, in terms of the total value, total amount of investment in china, it added 14 billion sing dollars. china has helped it in ter

taiwanese government is very anti-communism andthe companie themselves are very anti-communism but wasn't baidusn't ten cent, wasn't alibaba, weren't they capitalists they've all been slapped down. chinese making a major move against capitalism and trying to squeeze taiwan. >> more headlines today about online, for example, platform regulation, trying to take out what they view as unfair competition, as china under underperforms for a second day there now. >> let's understand, this morning we had walmart, okay and we had home depot. could you imagine if the justice department threw out a line today that said, you know what walmart is crushing it that's unjust. you could say, wait a second you can't do that. that's exactly what's happened here alibaba is being told you guys make too much money. that's a beginning of what, let's just analogize to communism, what stalin said to ukraine. you guys are making too much money. next thing you know, boom. i don't think alibaba, they'll jail anybody but the notion of treating these companies as if they have a pe, what's the price earnings ratio of a compa

delivered to their set than we do key earnings on deck investors will be watching for numbers from baidu be looking at what are the key things you'll focus on tomorrow? >> for sure. you know, there's been a little bit of back and forth about disney+ subscriber growth. it seems like people got a little over excited for a while. it's pulled back the stock has kind of held in okay but it's not really been a big up side tde driver since tht huge income push not a big market mover after the cpi. it's going to inform how people think about profit margin, outlook, things like that. right now we are in earnings -- options expiration week. what typically happens is it kind of holds the margin in a narrow range and a lot of movement beneath the surface. >> on the heels of our parent company, comcast results and what parks are doing as that reopening recovery story plays out it will be key to watch in disney, too. anything else you're keeping an eye on >> no. it puts a bit of a book end. disney because of the fiscal year seems like it's the last big one. palantir and year one because of the earning

alibaba off 3.5% baidu, jd.com, pinduoduo and others off 4% right now.ight now back to you. you. >> companies earning an adjusted $1.29 a share. the company reinstating and announcing $500 million buy back take a look the chairman will be joining us in the next hour to discuss the world of retail and what's happening, joe. >> to put a little meat on that bone did you hear what you said $1.29. the estimate was $19 cents >> huge. >> we said they raised guidance. they raised $3.41 to $3.75 i'm not good at math isn't that like double $1.71 like double to $3? i don'tknow if we should gloss over how unbelievable that is. that's a big lead beat >> big beat. >> we didn't know if people were going to buy clothes maybe this was the quarter people thought they were going to go out of peacock i'm not talking streaming. i'm talking peacocking because they were going to go out to the office and to dinner >> you do that you are a proud, proud peacock you've got the thing here every day. >> peacock >> you do. i said poor stock. it was 5 and now back to 19. it was 60 whe

j.d..com, baidu and didi goldman notes that the quote, overall popularity of china adrs registered asedge funds were generally not prepared for the regulatory shift and its impact on share prices as a result, goldman's hedge fund vip basket has lined the s&p 500 by 13 percent take points during the past six months matching 2008 as the worst stretch on record. kelly. >> mohamed has a question, leslie. >> hi, leslie. leas leslie, do we have a feel where hedge funds are after the notion that chinese stocks are becoming uninvestable >> that's a great question in the second quarter data they were very -- they were positioned for little change in the way of chinese regulatory scrutiny clearly they were surprised by the third quarter revelations on that front it would be expected to see in the next quarter of data that they have taken down their positions just given where the market has gone so far however, historically hedge funds have been much more weighted towards china than overall investors, overall active managers even have been because they've been able to generate alpha there's a se