and didi went ahead anyway.know that it was the second-biggest ipo of the chinese company in u.s. exchanges, behind only alibaba. so, a lot of u.s. money invested in there. now, the convertibility to hong kong should be relatively straightforward. of course, if didi does go ahead with a listing here, because hong kong, as we know, has a currency pegged to the greenback, and also the company saying it will ensure full convertibility. but then again, didi is a constituent of the msci china index, so we could see some passive selling pressure there, and also some american fund mandates may not be allowed to hold shares in hong kong. so that really complicates the picture, as well. and you think about how hong kong stock market has done this year, tom, it's one of the world's worst performing indexes this year. and pes valuations are really low. so do you really want to own hong kong chinese tech start? that's another question for investors. dani: sofia, you mentioned the vast amounts of american money that are hold

and as didi exes wall street, the year. and as didi exes wall street. grab — the year.treet, grab enters and - the year. and as didi exes wall street, grab enters and you . the year. and as didi exes wall| street, grab enters and you are at the listing in singapore. that is right. for the very first time the nasdaq opening bell rang in southeast asia last night here. sharesjumped out of at the open but ended the day sharply lower. grab was valued at $40 billion making it the biggest company in southeast asia to list in the united states and it is quite remarkable given that less than ten years ago it was a simple taxi company in malaysia but in 2018 it pushed cuba out of the region and became known as the irby killer and today it offers everything from rides to food delivery to financial services in eight countries. i caught up with the co—founder and asked why he decided to list in the united states. we why he decided to list in the united states.— why he decided to list in the united states. we chose the us because that — united states. we chose the us because that gi

stephen: we have to talk about didi. we've been talking about the valuation structure, and this morning's story was the sec saying they are finalizing rules as mandated by congress to set out the criteria for delisting of companies that do not comply with accounting and transparency rules that the sec has, and even gary gensler had mentioned chinese and hong kong companies in particular are the ones that have not been complying, so you kind of connect the dots and ask if this will lead to an avalanche of chinese delisting in the united states -- well, lo and behold, we just got news that didi is filing for delisting in the united states while simultaneously also going to apply for a listing here in hong kong. this is what some would say is going to be the trend. if regulators in china do not want these data rich and data sensitive companies listing in the united states and if the sec does not want those companies who do not open up their books to stay listed in the united states, where did they go? potentially back here

didi said it will ensure its shares are convertible it will hold a shareholder meeting for a vote and immediately pursue a listing in hong kong. but what's unclear is whether didi with yoould be accepted by hong kong stock exchange, it has a reputation for being tight with its i.p.o. regulation in fact, there's a lot of speculation that one of the reasons why didi chose new york was because it wasn't able to meet those strict requirements in hong kong with permits as well as other paperwork. the expectation at this point now, brian, is that didi is going to pursue a dual primary listing in hong kong within the next three months and that it would be de-listed by june of 2022 from new york >> that is a big deal there and certainly a big company. are you hearing or reading that there are other companies, china-based companies that could follow suit and do the same thing? >> reporter: absolutely. i have been hearing that a lot of the chinese companies here have been talking about how there has been so much more pressure now from chinese regulators because of the regulators' concerns of na

plus, didi delisting. the firm begins plans to withdraw from asian exchanges. the u.s. moves closer to banning chinese firms that do not open their books. hong kong tech stocks slide. happy friday. you have made it to the end of the week. we are ending this week on jobs day and a very fragile market. we had gains in the u.s. session yesterday, but that masks a roller coaster ride of this back and forth over tightening policy, over omicron, over high valuations. what does that mean for this market? in the words of our very own macro man cameron crise over at the mliv blog, it is time that we start looking at the price action. that is becoming more the fundamentals in and of itself. he writes, markets that behave like this deserve to be taken seriously, particularly when lu asian's are so elevated -- when valuations are so elevated and the catalyst for and certainty manifest -- catalysts for uncertainty manifest. there is a wide range of expectations, but at midnight tonight, the fed does into a blackout period. that means there will not be a lot to communicate from the f

didi is delisting and may be relisting.he decision to abandon the new york stock exchange and go to hong kong, putting pressure on chinese tech companies. and lamborghini's ambitions. we will speak to the ceo, stephan winkelmann, about the path forward of electrification and supply issues hitting the industry. amanda: it may well be some of those warnings, including from apple weighing on sentiment. it is a negative day out there. it is led by the techs in the broader s&p 500, the groups that make up tech are the weakest consumer discretionary. weakness also in financials. that has been a strength in recent weeks. some of the highflying names giving back gains today, 5% moves lower out there. and then of course we are looking at meta, trading close to bear market territory. toward the end of the year, people start to feel nervous, and then you check out the yield on the 10 year at 1.36 and you wonder what is going on. it is a bit unbelievable. we have dueling job reports in the u.s. and canada. both strong, but in this coun

dealing with the implications of a didi delisting.muted losses. 3/10 of 1% lower. some uncertainty going into the rba meeting. not expecting a move off the record low rates. the communication of the recovery prospect from here given the divergence we see between what traders expect to be as early as next year and with the rba says. take a look at oil because we have seen oscillations in the energy space. we are seeing some crude. upside momentum. saudi arabia boosting prices for asia and the u.s. in january . let's bring in david stringer. the move to hike prices. what does that tell us about the confidence and the outlook? >> gaining a little this morning. what the saudi arabia move on prices, what we have seen as a bullish endorsement over the demand outlook. there of been lots of concerns in the oil market in recent days and weeks. not only the impact of the variant belts so on the supply side. i think what the saudi outlook is telling us there is a real expectation of robust demand. if you think back to the end of last month, we h

>> you know, we're not investors in didi but we do invest in china.s been tough for them, they're unable to sign up new users. the app store was ordered to remove 25 other apps including those that registered new drivers. with all of that going on and making some investors illiquid, this is not the kind of name i would touch. if you look at the kba that includes a couple of names that have been difficult to trade in the tech space, it's at 2740 when i looked at it today. our range is about 2.3% upside to 6% downside people are paying a ton for protection they're really worried if you can move from neutral to bullish short term and pick this up 45 or lower, i would go into kba. i think that things are bottoming out. this is the one economy that's actually going to have the growth of gdp accelerate in 2022 versus other companies in the u.s. that will be decelerating >> dan, trade it are you into this? >> it's funny, frank, if you look at the holders of this, and obviously we just saw uber is a huge one, softbank but it's a who's who of u.s. hedge funds.

bah bah, baidu and didi sinking down by about 22%. announcing to plan to delist from the new york stock exchange and prepare to list in hong kong instead on the back of the company facing regulatory pressures from china since listing in the u.s. back in june. let's bring in managing director and senior policy manager. didi's problems started a day after ipo'g in the u.s is this what china wanted? >> that's a good question. i don't know exactly what the chinese regulators want given what we have seen and i don't know if this is a didi centric delisting or a long wave of ipos not coming to market at all as a result of the regulators cracking down. because of the dual tightening here in the u.s. under the foreign countries accountable act and china under the personal information protection law i suspect this is a wave of delistings to happen and not sure that we understand what will satisfy beijing or washington with respect to the type of listings if you're an investor and in the gig economy or the emerging technology sector, companies

didi, the uber of the people's republic of china. china has been throwing a tantrum playing hard ball with the publicly trading companies but if you are a long-term buy and holding investor this is a name you have to think about it reminds me of facebook back in the day facebook went public in 2012 went out at 38, got to 18 and didn't look back so i'm excited about some of these names. two-thirds of the companies have underperformed, the new i.p.o.s. >> you like to go for the beaten down names a lot of people would argue didi is a no touch story with china and the regulatory concerns. stepping back, macro, here in the u.s. covid increasing about 60% this week. thoughts on how omicron affects broader sentiment? >> i'm going to be positive on omicron. you think about the fed tapering, the fed raising rates. i think the fed is dovish, and any sign of trouble and omicron is trouble, is going to make the fed back down, because think about it, omicron is is going to affect restaurants, the service sector people are staying home, airlines c

will didi take a huge haircut? were listed at $14 and have dropped more than half. it has dropped quite a bit. historically, a lot of chinese companies would prefer to be listed in the u.s. the retail investor has a bigger appreciation. a lot of times in hong kong particularly, they require companies to be profitable. i think this valuation will be impacted because we see the alphabet in the metas of the world are listed in the u.s. it will impact valuation for many chinese companies. emily: how does this impact your choices and the decisions to invest in one company or another that crosses borders or a china-focused company? >> i am still bullish on china. this is the second-largest largest economy in the world. it is a parallel universe, not only for internet, but so in terms of stock market exit. having said that, there is great venture funding still actively investing in china, so we cannot ignore this market. i think we need to be very careful and twice, there are no truly cross-border companies, but as an inv

i.p.o.s are still in the cards this comes after didi announced plans to delist in the new york stockhange six months after the i.p.o. eunice yoon is joining us with that story it encapsulates the troubles that didi went through, it encapsulates what these newer age technology companies in china are facing right now. >> reporter: ablsolutely you can seeing it play out on the hong kong shares of the china listed companies going back to the china regulator, the china securities regulatory commission is speaking up. over the weekend, the csrc said that china doesn't want to make it seem as though it's dismissing u.s. i.p.o.s. it respects company's choices on where to list. the regulator also dismissed as completely misleading the idea that beijing was discuss couraging u.s. i.p.o.s or that the demise of the variable interest infrastructure is near. it's been used to allow chinese tech companies such as alibaba to get around some of the regulations here in china to list overseas. the crsc added it's making, quote, positive progress with the s.e.c. in defining national security risks this

didi is a prime example of this, but the question is what does didi signal, and our companies and chinaust going to choose hong kong over the u.s.? jonathan: that is the international story. let's talk the domestic one. getting a feel for how the shopping season has gone in the united states. it has been decent. u.s. holiday sales jumping 8.5 percent from last year, according to some data from mastercard. joining us is jordyn holman, retail reporter for bloomberg. i am trying to understand if this is a product of price hikes or a real feel for the volume story in america. which one is it? jordyn: if you look at mastercard's data, that data was -- used was from november to christmas eve, but they also shared data from october, when everyone was being told to shop early because of supply chain issues. it shows u.s. spending went up 9%, which shows this is holiday spending, people just pulled some of their spending forward. if you look at some of the big winners of the holiday season, a big box store like target, their foot traffic was up during that same period. it looks like it is a volu

how many more didi's could there be?ne knows for topic congressional commission estimated there are 250 chinese companies that have a total of 2.1 trillion shares trading on u.s. exchanges. this tech decoupling shows no signs of stopping. it could be some of the other big adrs listed in the u.s. are next. emily: how much do you think this has to do with chinese national security? anja: i think that's the reason the chinese government gives, but i think there are three reasons xi jinping in the communist party are doing this. the first one and most important is they want to maintain absolute political control. they are going into a very hard year for china. the olympics have to go well, the big communist meeting in march and in october, xi jinping is up for an unprecedented third term. they need absolute quiet and that's why you are seeing these sweeping data security laws that caught up didi, tencent, no new approvals for online games, limited gaming -- that's the number one reason. national security is the second reason

one company they targeted was didi, china's version of uber.and on china's infrastructure. didi's problem started in june, when it had gone public with an i.p.o. on the new york stock exchange, but-- >> pottinger: only several days after that i.p.o. occurred, beijing suspended the app, basically made it impossible for people to download the app. and they sent the ministry of state security, which is china's k.g.b., into the offices of didi to start assessing and taking control of didi's data. >> stahl: it's not just data. the government is also clamping down on daily life and culture. this summer, authorities went after video gaming companies, and enacted surprising restrictions. there's a new law where kids can only play video games three hours a week. >> jin: yes. >> stahl: and that was just by edict, period. and only on the weekends? >> jin: that's correct. and i have heard many of my friends internationally saying they wish that they could have that, too. >> stahl: oh, yeah! but it would never work in the united states-- parents don't want

whether it is evergrande didi, sunshine 100 missing payments. which wherever you look is every day brings another person into the picture. it just does not seem to end. then there are more clampdowns from beijing as well. people are having to reduce exposure day after day. the fact that we are coming towards the end of the year is making it even more difficult. who would want to address to a market which is in such difficult conditions, especially knowing that the first quarter of next year, so many of the chinese property companies need to do a lot of rebuilding of their debt? there is a lot of interest payments coming up. they will be a lot of pressure on chinese companies at a difficult time in the first quarter of next year. it will just add to the anxiety as well. valuations on the hang seng just below one, which is typically a place where long-term investors would probably think the hang seng index offers relative value. but people just will not be out of focus on that until they see a bit more clarity on where these corporate situations a

your thoughts on didi global right now?d the scenes here, maria. there was only one week after didi listed here in the u.s. that news came out about cracking china -- about china cracking down on platforms. it was a huge middle finger from china to the united states. this is a second middle finger from china. china is uninvestable and it remains uninvestable. you p can't invest in communist countries. it doesn't work. the thing is, biden has no backbone and isn't standing up to china and china thinks they can take advantage of the united states right now. that's why they're testing nuclear missiles, that's why we didn't name the new covid variant nu or xi. i think there's a ton of opportunities in other countries like here in the united states and mexico. you're going to start to see companies and institutional money leave china and move to other areas including low cost areas where they can produce goods. this is actually beneficial to the supply chain because it's easier and cheaper to ship goods across the border from me

soft bank and uber which combined owned more than 30% of didi we've had lots of conversations over the last six months whether they should continue to hold the stake or not, given where things are right now, i'm sure there's conversations going on inside about that, joe. the. >> coming up we'll talk about the biggest catalyst for the markets. is it the omicron variant? or does it all come back to the fed? we've been talking about that for the last couple of days. plus we'll tell you why docusign shares are tanking right now wow, 74 points it had a big run up, but that is a real fall back to earth, is it not? a little bit of an air pocket there. down almost 33%. almost a third then later draft king's ceo jason robins will join us to talk about the news it broke yesterday on cnbc atim en is shorting the company you're watching can, "squawk box" live from times square. if you wake up thinking about the market and want to make the right moves fast... get decision tech from fidelity. [ cellphone vibrates ] you'll get proactive alerts for market events before they happen... and insights on e

how many didis could there be? anja: no one knows.sional commission estimated there are 250 chinese companies with a total of 2.1 trillion shares trading on u.s. exchanges. didi is first but some of the other big a.d.r.'ss are next. emily: how much do you think this really has to do with chinese national security? anja: i think that's the reason that the chinese government gives but i think there are actually three reasons that xi jinping and the communist party are doing this. the first and most important is they want to the maintain absolute political control. they're going into a very hard year for china. the olympics has to go well. the big communist party meetings in march and of course in october, xi jinping is up for an unprecedented third term so they need absolute quiet on political dissent and i think that's why you're seeing sweeping data security laws that caught up didi, 10 cent, lots of others. no new approvals for online games, limiting gaming, crackdown on chinese education companies. that's the number one reason. nati

and name in the premarket that i want to discuss, didi.here is a push from america and a pull from china, these countries are one direction. back home, did getting -- didi getting ready to delist in the you let -- in the u.s. and in hong kong. the sec finally putting into place a new law that mandates foreign companies open their books to u.s. scrutiny. china and hong kong are the only two jurisdictions that refuse to allow this despite the fact that it has been required since 2002. this story is literally decades old and it is finally drawing to a conclusion. tom: it is decades old. jack ma tried to explain chinese expansion into western capitalism, and it was absolutely bizarre then as it is absolutely bizarre now. jonathan: it is beyond bizarre. for 20 years, u.s. regulators, u.s. lawmakers, it is not just the united states, allowed the chinese communist party to play by different rules believing that ultimately they would adapt in the future. that has not happened. what has now happened after debating this, it is not just a u.s. pushin

but before i turn to that, and didi gave you a little bit of a -- excuse me, a little bit of it. but i want to give you a bit of a visual survey or description of my practice. sorry, i'll get used to this. right to advance forward again. okay, great, thank you. so it is an intentionally small office, 12 to 13 people. we're located in alexandria just down the river from us here in washington, d.c. and while it is a small office, we tend to do a broad range of work. and as lori talked about olmsted's office not compartmentalizing their work. and i think we do better work on campuses because we are doing work in other areas. and so didi told you a little bit about that, but it's from projects distant and ancient as our work in jordan, and i think one of the greatest ark logical sites and post arrival entry sequences anywhere in the world. social places like the design of sundance square, which is a new civic square in the middle of downtown fort worth and contemporary places like the memorial to disabled veterans at the base of capitol hill. for spiritual places like didi mentioned

calling the chinese market a tough one with little transparency due to a price war with didi. upgrading to a june filing and elon musk getting into it with warren over twitter over taxes. warren calling the tax code rigged saying it should change and see if the person of the year will pay taxes and stop free loading off everyone else. he tweeted he will pay more in taxes than anyone in history this year. adding, don't spend it all at once oh, wait you already did. critics say $10 million. hard to say if that would be a record, it is certainly one of the biggests ever. >> couldn't we all aspire to have a $10 billion tax bill. that's what i would call a good problem. >> i think so. >> how much did you pay in taxes this year? $10 billion. how much did you pay zero >> back down to the markets. it is decision day the fed widely expected to speed up the bond buying program known as taper all to fight inflation which is spiking. speaking to ceo mmoynihan sayins it more of a question of when and how fast >> you are seeing this hanging on they know they have to do their job. chair powe

didi just listed in new york in june. stock's could be 22%.aidu, alibaba getting caught up in fears that a delisting could be in their future as well. and joy, gaming company and jd dot.com also sharply lower also. and companies that have investments in didi are feeling the pain. uber owns about 13%, tencent and soft bank shares all lower today. and there's wall green's -- reportedly working on the disposal of the u.k.'s biggest chain of pharmacies called boost. sky news says the company is lining up with goldman sachs to explore options including potentially spinning the chain off into a separately-listed company. and hold the phone, we have a green arrow. walgreens stock, on that report, is up 4%. [laughter] well, warren buffett's bff showing no change of heart towards cryptos. we'll ask a crypto guru what he thinks about charlie munger's latest attacks on digital currencies. you don't want to miss it. and you can see the dow is down just 200 points, s&p down 60 and the nasdaq down 2.5% or 382 points. s holding 15,000 right now, we'll see if

ownership, they're trying to extract value for their shareholders and didi, which we led the segmentirm? should you sell? are you holding on and waiting >> the challenge, really with, didi is to wait out the delisting and relisting process in hong kong and factoring in discounts that may be applied there. but the long-term case for didi is bullish it might take a few years to shake out but the fact though is this a company with 550 million users and holds 95% market prediction in the largest ride-hailing market that's larger than all others combined. and so, it's clearly very good business it was one with significant regulatory issues and fell afoul of chinese regulators out the gate you have two options crystallize what is an undervalued proposition today or wait it out tlhrough the hong kong ipo and see them straighten out the regulatory shifts. >> yesterday the chinese regulatory commission, essentially china's version of the sec put out listings abroad. so many chinese companies have done ipos in the states. a big part of that is the vi erksz structure that's allowed for big chin

>> enormous pressure on a company like didi.hink what was interesting with today's report is the first time investors really got a precise look at how china's ongoing regulatory pressures are impacting its bottom line and its cash reserves. hard to say what happens here as they look to delist. but trading at $5, does this make it attractive to anyone we'll have to see. >> david, attractive to you? >> not so much i think that these results really showed us that it's really that many investors have really underestimated that impact of the regulatory reform from china and that didi's disclosure of these losses might be a benchmark for investors moving forward i don't think that we ultimately know the end-all-be-all costs associated with this regulation. i think spending rose by, like, 16% during the quarter just because they had to better compensate their drivers and improve data governance. >> and that's certainly something we've seen business models here as well. guys, we'll have to leave it there. thank you so much today. >>> st

the bbc is seeking comment from both didi and uber.her remark that the rideshare company had its best week ever in terms of overall gross bookings last week. oil futures prices dipped after the international energy agency said the omicron variant is set to dent global demand recovery. the iea also said that it�*s lowering its forecast for oil demand by 100,000 barrels per day for next year. the price of brent crude is now hovering at about $73. apple is now requiring all customers and employees to wear masks at all its us retail stores. the move follows another surge in coronavirus cases in the us. previously apple only required masks in stores within regions that required them. new rules requiring people to have covid passports to enter nightclubs in england come into force today. the rules affect indoor venues holding more than 500 people and outdoor venues with a capacity of more than 4,000. people will need an nhs covid pass or negative lateral flow test to enter. the night time industries association said it comes at the worst pos

let's take a look a didi global, that's just fun to sarks didi global -- say, didi global, are they tryingeir shares, is that right? >> they went public at 14 bucks over the summer. now you're only getting $5 on the stock. in didi's case it's going from bad to worse. and didi has reportedly according to the ft reporting blocked employees from selling shares indefinitely. they're extending that lock-up period which is usually six months after an ipo, didi went public over the summer and. didithe uber of china has gotten crushed by beijing over censorship and now they're delisting in the u.s. and looking to sell shares in hong kong as well. imagine you bought in at 14 bucks in the ipo and you're getting five bucks right now for your money. that's a big loss to stomach. ashley: it is indeed. all right, let's take a look at aavies, the -- avis, the car rental people. finding a rental car is pretty tough, right? >> we know that rental prices have really shot up during covid and a it's proven over the holiday weekend when you have -- you need to find a car because your flight is canceled, you ha

didi started the process of delisting. a lot of concerns about u.s.ar tory pressures on some of these u.s. listed chinese names, the pressures out of china, and some concerns about a potential shutdown or a greater than into spaded slowdown in the chinese economy. alibaba had been down as much a 6% in hong kong trading. adrs were also down, giving a little bit of a rebound after announcing they will have a new ceo that is going to take over starting april 1. they also announced some other leadership changes. that is why you are seeing a little bit of green here, up 0.8%. pretty much all the chinese adrs in the red in the premarket. the proshares bitcoin edf, the new and that launched last month, down 9% in the premarket after that stunning plunge by pretty much all the crypto assets over the weekend. all of those shares tied to the crypto seer right now lower in the premarket. let's talk about another highflying sector, the ev sector. we learned over the weekend that lucid group not a subpoena from the sec on friday. this apparently has to do with the

have been affected by a lot of issues lately, including the delisting of didi. nio as a u.s.mpany, do you have any plan to shift your listing to hong kong following in the footsteps of others? william: we hope political issues won't affect much of our company's growth, and we will abide by the local laws and regulations. charlie: are you considering to list yourself in hong kong one day? william: anything is possible. charlie: you mentioned nio will enter 25 countries by 2025. can you give more details? when you plan to sell cars to the u.s. market? william: we have set up a research department in san jose in 2015 with hundreds of staff to develop our global product. we started fiercely considering the north american market since 2017 by making our products more competitive. of course, we are still working on the plan. we will enter germany, sweden, denmark, and the netherlands next year. and more european countries the following year. our international strategy has always been making long-term plans and staying patient. dani: the nio ceo and cal -- co-founder saying the firm

dani: at the same time, risks from china have not gone anywhere, didi now listing in hong kong.s your overweight in asia also extend to china tech? anna: it is normal overweight, but we have to be very much selective across countries and sectors, and you are right. i would say, going back to omicron more generally, if it is spreading and spreads to china, given their zero-tolerance policy, we might see more lockdowns, and that is not going to overall be good for growth and risk in general. there are risks in particular from regulation and omicron, given the policy, it is likely to be more supportive, so we are overweight for now. manus: goldman sachs are cutting their growth forecast for the u.s. over the weekend. what do you think in terms of growth going into 2022 overall? are you of the normalization camp, but nothing too dramatic on the downside? anna: i think there are risks to the downside, modest and nondramatic. i think there will be differentiation between countries that will depend on the government's reaction to omicron. here in the u.k. in europe, we have seen restri

and didi down as it moves to delist in new york shares down more than 60% since the ipo earlier thisl end with the nation's largest egg producer under pressure after reporting earnings below forecast with a bottom line hit for higher costs of packaging and labor that stock down about 6% in a rare earnings report this week >> and meantime, cnbc is out with a new quarterly stock report polling participants in how they think the s&p will perform next year, with more than half saying they'll be up less than 10%, while less than 2% will hit similar gains to this year, up more than 20, of course. of course that number's more close to 30 on a total return basis, mike. >> yeah, and actually on the three-year trailing basis, i think we're 25% annualized total return on the s&p fievlg 00. which means it's somewhat understandable you'd have people in the realm of the long-term average return and say how much can we expect from here. historically, it's extremely rare in a given calendar year to have the s&p go up anywhere close to the long-term average of less than 10% it's more likely that the

better year-to-date performance than apple, d. >> and speaking of relative performance, robinhood, didi, all those companies went public this year and have all seen their shares slide yet leslie picker, we continue to see more ipos and spacs and direct listings. 2021 will end as a record year in terms of money raised i keep asking this question, leslie when is this going to hit private markets and there really hasn't been any indication it has. we have companies on all the time that are raising rounds at ever higher valuations like data breaks recently. >> yeah, it's pretty remarkable because usually what happens in the public market, it is a lagging indicator, but it does ultimately affect the private markets, but we haven't yet seen that with the onslaugt of deals, you'd think performance would be better ipos notching a record in terms of stand alone companies combined with special purpose acquisition companies or spacs the capital markets generated $318 billion worth of new issues by far a record, even adjusting for inflation. those numbers alone may indicate a healthy market ipos of

the lockup for didi is set to expire.estors will be allowed to sell shares for a loss or weight or more clarity on hong kong listing plans. -- wait for more clarity on hong kong listing plans. rishaad: let's look at casino stocks. some optimism. what a horrible year. looking at what is going on here, optimism about licenses being renewed, helping to push things up. japan, the key consumer price index up 0.5%. it would be to present, but was affected by the >> we certainly favor value in 2022 overgrowth and are on the short duration side for equities and fixed income. >> equities would do ok next year, but i think you can get double that in the international markets. >> we think it will create slowdowns in the economy, perhaps production, which will add to inflation pressures. >> they are aware that it is rules-based. >> i think it will head in that direction. rishaad: our guests on market >>. yvonne: we -- risks. yvonne: we are counting down. rishaad: absolutely. pfizer and merck, millions of doses, but who will get those

didi said it will delist from new york stock exchange and other stocks also sharply lower.nasdaq falling as elon musk unloads more share

didi is the uber of china. i don't think we are going to see very many. that will occur actual some of the ipo activity, both spacs and the chinese listings. >> historically, the private markets have been a lagging indicator following the market in terms of how those names are valued in the private markets. but lately it hasn't been the case, there is dry powder in the venture capital and private equity areas, that it has kept valuations higher in the private market do you think it catches up, or is it able to stay steady until they go public and then we will see what those valuations are? >> to your question, the private -- there is so much capital inflating valuation, it is not going away. i think it is just going to keep some companies this year on the sidelines. it is going to be interesting to see what happens with it but every day we see a new fund in the private markets raising the biggest fund every, tiger global, or sequoia the private equity is raising into these companies i think those valuations for a while at least will stay pretty high then

and didi, on friday, was case in point.it worse investor thinking if they're brave enough and have the appetite for risk, this could be a good value play? hani: well, i think it depends on your kind of timeframe. i think there can be a shorter-term tactical opportunity based on relief from all of the bombardment of regulation that we've seen recently. but when we think medium-term, those same tech companies really do have a lot of challenges. and those internet platforms, the level of competition is intense. and the level of penetration into online is already very saturated. so it becomes a pie that is not expanding, particularly rapidly, and a lot of competition for those eyes and those clicks. so we would still be cautious on a more medium to longer term venture. francine: is there something else you would be cautious on right now that maybe you been buying up to now? hani: so, we've been very bullish since may of last year. it's really only the last few months were we've become a little more caution. the area in asia and

it is a stunning reversal for didi.he company now has begun prep ration to delist shares in the u.s. and will start on a hong kong share sale. bloomberg reported last week that china is concerned a u.s. listing would lead to the leakage of sensitive data. european central bank president christine lagarde says an increase in interest rates next year is unlikely, but told reuters she won't hesitate to act on inflation if needed. the ecb plans to decide on the future of its stimulus measures on december 16. the omicron variant of the coronavirus is now the dominant strain in south africa. that is where it was first detected. south africa reported or than 11,000 covid cases thursday. omicron has been detected in more than two dozen places stretching from the u.s. to south korea. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm ritika gupta. this is bloomberg. ♪ >>>> if we get to next spring and inflation is still over 4% and we

things didi will lead to linkage of sick -- a leakage of sensitive data. jets may resume commercial flights by the end of this year early 22, that announcement one day two regulators cleared the way for the plane to resume flying in china after being grounded for almost three years. 737 max was taken out of service in 20 after two fatal crashes. credit suisse plans to restructure how it pays bankers. senior bankers should get more of their compensation in stocks with long deferral periods and the chance of fall's to increase accountability, it is said. that is your latest business flash. guy here at guy: thank you very much indeed. time for etf friday. kriti gupta is here with the top weekly inflows and outflows. kriti: you are starting to see a little bit of money come across the ocean come away from europe into the united states. it is once again coming off of the omicron variant fears, essentially that travel exposure you had in europe, which was kind of thriving, those airlines, well, that is being reversed little bit. money going into familiar favorit

particularly for didi.t of money in try to build a big moat and extract monopoly profits and you're seeing results here >> yeah. you know i don't even think that we know the full cost at the moment and that's yet stock has remained under so much pressure. look at that that's 60% since its new york stock exchange debut you have to wonder, is it going to attract any more investor appetite over in hong kong when the shareholders and the earlier ones before it listed. so what speaks to the chinese contacts and mike santoli talked about this at the beginning of the show some of the chinese names, they are still despite the sell-offs still huge they have huge market caps like alibaba. they've been one of the worst performers, guys and we'll see how they do next year and i will see you back here tomorrow we'll do it again. halftime report starts now >>> all right. thanks so much welcome to "the halftime report." front and center, surging stocks and the s&p on the best record run ever and the dow into the end of th

apple and tim cook have held up their end of the deal by doing things like investing $1 billion in didi, where that doesn't make any sense and people might have wondered why maybe now we know. >> i think it made some sense at the time didi was a consumer app early in sort of the mobile driven economy in china and apple is trying to be a primary mobile player in that market. i think over the tim cook era and you can stretch that back to even before he was ceo china has been a critically important piece of the supply chain and logistics operation for apple which tim cook watches very closely and expanded as an important market for apple's products now, some might remember 15, 20 years ago there were a bunch of third-party knockoff kind of nonauthorized stores, retailers in china both selling authentic apple goods that weren't authorize to sell and knockoff merchandise for apple. that was bad for apple's business because they realized, carl, an important market for the future so viewing tim cook's investment through that lens both as an important piece of apple's assembly and supply chain

investors who own uber, for example, which happens to own a huge chunk of didi. >> yeah. five to ten years, the biggest chinese economy in the next five to ten years. i can't tell you over the next 6 to 12, 18 months where these things are going, no clue. they seem pretty beaten up now typically you make a lot of money when the world is buys things, but i can't tell you where they're going to be. i mean, they're cheap, but nobody can answer some of the regulatory questions like, i think in the long term, they probably all work, but in the mere term,who the heck knows? >> let me layer on another idea. right now, there is enormous pressure, i think, on u.s. investors, and frankly investors in the west about whether to invest in china at all clearly this debate that emerged on our program when we were talking to ray dalio last week, caused such a firestorm. i wonder whether those type of fire storms change the dynamic with which some of the big investors in the u.s. and elsewhere think about china? >> in the near term i totally agree. i didn't actually believe that when i he

the sec is taking a tougher stance as well we can point to this didi delisting.nt of u.s. and china investor flows as this continues to evolve >> the two countries are highly intertwined from an economic perspective. china's trade data continues to show that it's not only a large exporter, but a large importer we saw the boeing news about the 737 max being approved in china. apple's revenues doubled in china in q3 from $7 billion to $14 billion. the countries are very intertwined economically that can't go away almost $400 billion of revenue is generated in china from u.s. publicly traded companies. so this is a big issue ultimately the two sides have to get together and figure this out. on the holding foreign companies accountable act, the companies are in a bind. they were allowed to list here and now this law has them stuck between u.s. law and chinese law as well as over, you know, about 1.5 trillion of u.s. savers. it's not chinese capital in these stocks it's u.s. savers are in these names, and it's a really unfortunate situation for both the shareholders a

she talked about moving us to miami beach where grandma mercy and most of our didis lived, about making sure we learned english on. new year's eve, she made me wear a red and white-striped dress and white patent leather shoes. it was hideous. i looked like a peppermint candy. she styled my hair in fat candy curls and said she wanted me to look like shirley temple. i had no idea who shirley temple was, but i hoped she didn't expect me to be friends with her. i wasn't trying to be friends with girls in dresses and uncomfortable shoes. i knew that these were things meant for girls, that i was supposed to like them, but i had no interest in my mother's curtains or her tubes of red lipstick or her dresses or the dolls grandma mercy and didi sent from miami. i didn't want to be barbie for halloween like my mother suggested. i wanted to be a ninja with throwing stars and a sword. i wanted to kick -- i wanted to beat up 10,000 men like bruce lee. i wanted to climb trees and catch frogs and play with "star wars" action figures, to fight with lightsabers and build model spaceships. i didn't have

visit findyourindependentadvisor.com >>> welcome back didi is planning to list in hong kong what is your take here >> so you know what i do think is ironic, you thought this would come from the s.e.c. not from china themselves to pull these companies to delist so you'll catch it from both ends you'll have a lot of congressmen on the hill demanding accountability standards and holding foreign companies accountable. so you'll get negative head winds from every which way on chinese related stocks >> some of those attract them at multi, multimonth if not year and multiyear. so let's go to the final trades. we'll go around the horn let's start with you, nadine what say you what is the most compelling thing for you right now? >> novo nordisk. n vmp o. it is a strong management team, a leading diabetes pharma. they also have a recently proved drug for weight loss with really extreme results. so we think that's a little hidden gem in there. >> all right what have you got? >> trinseo tse. >> all right, tim seymour? >> well, we talk defense how about offense on walmart i think there's a hybrid you

, local bounty celebrating a listing via spac at nasdaq it's nutriband everyone wants your take on didim, what this means, this delisting, whether or not china tech is toxic. >> i'd respond by say there's a fact sheet out today called holding foreign companies accountable. you have to identify whether the chinese communist party is involved, have to have your accounting by the oversight board. i remember that because of enroll 20 years ago, but it's an admission of, okay, guys, we can't do this stuff anymore. remember didi was theparty coming out saying -- it wasn't as bad as when they deemed the tutorial companies suddenly nonprofit, but good riddance i want the congress to adopt what gensler is talking about. gensler wants to protect us from these kinds of deals chairman of the s.e.c., doing incredible work to make sure this doesn't happen anymore. >> this is still somewhat uncertain. you have to list in hong kong and make the shares transferrable. there was some idea they may try to race some money and buy in the shares trading here. >> no one knows. they haven't made it clear we all

why would we see a move like this when it comes to didi?has been literally since it went public, when china basically clamped down on major tech stocks and didi themselves. concerns that a lot of these companies were listening -- listing in the u.s. instead of hong kong or china. with didi, the country was concerned that the company was collecting weight -- way too much data for one company and then listing in the u.s. there have been constant updates with the government on what they want to see from didi. the latest news, before this report today, was that didi is looking at delisting from the u.s. and moving back to hong kong or china for listing. the expiry was set today. -- set to today. there were concerns about a whole bunch of selling. romaine: i am curious. we've had reporting here that they planned to delist and move back over to asia. is there really any reason why they needed -- why the government needed to impose something like this? gift inside investors wanted to get rid of some of their u.s. adr's, why not just let them? >> t

in the home by plying the 5 keys to see for food use them you also have a role to play ah, this is didi. you news live from berlin, fleeing dangerous fires and the american state of call.

have been affected by a lot of issues lately, including the delisting of didi. nio, as a u.s.u have any plan to shift your listing to hong kong, following in the footsteps of others? william: we hope political issues will not affect our growth, and we for sure will abide by the local rosin right -- local laws and regulations. charlie: are you considering to list in hong kong one day? william: anything is possible. charlie: you mentioned nio would enter 25 countries by 2025. can you give more details? when you plan to sell your cars to the u.s. market? william: nio has set up a research department in san jose in 2015 with hundreds of staff to develop mobile products. we started seriously considering entering the north american market since 2017 by making our products and services more competitive. of course, we are still working on the plan. we will enter germany, sweden, denmark, and the netherlands next year. more european countries the following year. our international market entry strategy has always been aching long-term plans and staying patient. rishaad: that was the nio

the didi lockdown was only lifted on monday which means employees are eligible to sell their stocks. shares have fallen 60% since his listing. a reminder of your market closures across asia. markets in australia and new zealand were closed tuesday. hong kong is reopening after the christmas holiday. in 90 minutes. markets closing friday before the new year. we will bring all those market opens to you as they come in. this is bloomberg. ♪ david: this is my kitchen table and also my filing system. over much of the past three decades, i have been an investor. the highest calling of mankind i have often thought was private equity, and then i started interviewing. i had to watch your interview to learn how to do an interview. i have learned from doing my interviews how leaders make it to the top. >> i asked him how much he wanted, he said 250, and i did not negotiate with him. i did my due diligence. david: i have something i would like to sell you. you do not feel inadequate not because you are only the second wealthiest man in the world, is that right? noubar afeyan is an incredible ent

didi global selling late trading after third-quarter results showed it lost $4.7 billion. . shares have already tumbled 8% in the regular session of reuters reporting it was planning i hong kong listing my introduction without raising capital or issuing new stock. the reports say they aim to trade in hong kong by june after a deal lists in new york. u.s. chipmaker macron says production facility in in china has been affected by covid. chinese authorities are trying to get on top of an outbreak there, effectively shutting the city down. micron says it is still meeting most customer demands. samsung has also said it's plans have been impacted. meanwhile, deaths in the u.s. are on the decline even as cases rise. they say it is may be because omicron is not as severe as a strain -- of a strain. cases have jumped 60% while deaths fell 7%. a new york jury has found ghislaine maxwell guilty of lowering and grooming underage girls for sexual abuse by jeffrey epstein. the verdict came after about five days of deliberations. maxwell is being conducted on five of the six charges includ