get in hong kong? >> i think it was a deep mistake. it was done in a much more i guess intelligently. but in the sense that if you remember back in the protests, they managed to make it so that there was this hate speech, and they did that. they managed to crack down on hong kong but i think that's one of those you can see that china has become and a lot of these copy each other. they see what someone else is doing and then they themselves do it. >> in the past couple of years i am so inspired by your father, the greatest person i know so thank you for speaking on his behalf. if you would like to be in the photo, please we will take a couple of questions across the audience and i will remind you this isn't without legal risk and you might want to think about this if you are going to hong kong or mainland china. okay. hold that thought. >> are you ready? >> you are allowed to take these with you. feel free to take it around. we want to call as much attention to the case and what he's standing for and th

in singapore and hong kong. yvonne: traders weigh prospects for big tech ahead of nvidia's earnings. stock exchanges freeze one money manager's account after it dumped millions of dollars of shares within a minute. >> on live from the singapore air show. we will be speaking about business jets and the business outlook later this hour. yvonne: pretty slow going given some of the admit -- event risk that's happening. we have the fed minutes coming up, so we are still looking for signs of what the timeframe of this rate cutting cycle will be, and china, we are still kind of seeing some gains and losses this morning. it's not like it's gaining a lot of traction, although a look at the hang seng now, the last couple of minutes, we are up 1%. you are seeing at least we are bottoming out in terms of the lows of the session when it comes to asian stocks today. the hang seng is outperforming. csi 300, though, we are still slightly lower by about .1%. we are watching treasuries closely given what the fed minutes might sig

it's an issue in hong kong _ 160,000. .. it's an issue in hong kong and _ 160,000. ..ng kong and you - 160,000. .. it's an issue in hong kong and you are - 160,000. .. it's an issue in - hong kong and you are listening to the financial secretary there. we will move onto other news no. i knew the quotation petition has been filed against biggest private property developer country garden. the petition was filed by creditor who says the company has not repaid a loan with billion hong kong dollars. the move comes after china's evergrande, the world most indebted developer, was issued a liquidation order by a hong king court last month. big news from the us, it seems like apple's electric conditions have taken a back seat, the company has reportedly begun winding down its team dedicated to manufacturing electric cars. 0ur manufacturing electric cars. our business correspondence filed this report from new york. apple still in doubt with lofty ambitions. for years, it was rumoured that it wanted to build its own electric car, one without a steering wheel or any pedals. a driv

under hong kong it's own mini constitution. but in 2003, beijing tried to introduce security laws under article 23 of that many constitution . hundreds of thousands of people took to the st test. and the proposal was withdrawn. in 2014 a civil disobedience movement arose, pushing for more democratic organizers, fear that the police might track down and everyone has to stay. highly alert, riley has been peaceful, but now to your guys and plastic bullets have been transferred to the government headquarters. i a soon after the police forcefully cleared protest caps and the government did not relent. setting the stage for future classes with democracy activists. 5 years later, another series of widespread protests sparked by a proposal to extradite criminal suspects. the mainland china was met with a harsh police response. no one is upgrade. we have more and more angry. you never know what the government will put on there. and i'm just worried about the problem. rather than answering the protesters, demands the following year, beij

hong kong allocating an additional 1.2 billion hong kong dollars to fund terrorism events.ed about those fireworks on a monthly basis. let's see if that works to attract people like yours truly. hong kong allocating an additional 1.2 billion dollars for tourism. let's take a look at how it's looking for indian markets. minutes away from the open. a lot of inflows of foreign investors. a pretty flat open right now. nifty futures up about 1/10 of 1%. india stocks trading in about one million -- minute. we are keeping a watch on adani, selling 400 million to bonds. what stands to become its first overseas investment since that hindenburg report. plenty more ahead. paul tom reviews the company's earnings and discusses its future plans. he joins us live, next. keep it here with us. this is bloomberg. ♪ hey you, with the small business... ...whoa... you've got all kinds of bright ideas, that your customers need to know about. constant contact makes it easy. with everything from managing your social posts, and events, to email and sms marketing. constant contact delivers all the t

the hong kong government sa s that wants. the hong kong government says that the — wants.hat the law _ wants. the hong kong government says that the law does _ wants. the hong kong government says that the law does not - says that the law does not target media and one country to systems will remain, what is your response to that? it is a lie. it your response to that? it is a tie it is _ your response to that? it is a tie it is a _ your response to that? it is a lie. it is a complete - your response to that? it is a lie. it is a complete lie - lie. it is a complete lie because while it is saying it is not targeting the media, now, even without legislation, the media is not free at all and many meteors and organisations forced to leave hong kong and their working visas are not renewed and so, also the founder of media organisations are being trialed and lingering national securities and we expect people like jimmy securities and we expect people likejimmy lie will go to jail like jimmy lie will go to jail for likejimmy lie will go to jail for running media organisations and

that was it for many of hong kong. as pro democracy activists, dozens of opposition leaders were arrested, along with journalists and ordinary citizens. others went into exile. independent media was silenced, a phasing signal that it had fully taken over in 2022. when jesus in paying arrived in hong kong to swear, and john lee as the territories chief executive or the ceremony happened on july 1st 25 years to the day after the british. hanover typically has said that the new security legislation is a priority. and with the opposition vanquished, he's likely to get his wish. i'd like to bring in a sunny tongue, a pro democracy activist who has left hong kong to seek asylum in the united states . he joins me now from washington. d. c. thank you so much for taking the time. i understand that one of the concerns over the new security law is that some of the crimes, particularly in relation to state secrets are vague. are you worried about how these might be enforced? yes, i personally, i'm fairly worried about the definiti

under hong kong it's own mini constitution. but in 2003, beijing tried to introduce security laws under article 23 of that many constitution . hundreds of thousands of people took to the streets in protest, and the proposal was withdrawn. in 2014, a civil disobedience movement arose, pushing for more democratic government. organizers feared that the police might track down and everyone has to stay. highly alert. riley has been peaceful, but now to your guys and plastic bullets have been transferred to the government headquarters. i a soon after the police forcefully cleared protest caps and the government did not relent. setting the stage for future classes with democracy activists. 5 years later, another series of widespread protests sparked by a proposal to extradite criminal suspects. the mainland china was met with a harsh police response. no one is the upgrade. 6 we have more and more angry. you never know what the government will put on there. and i'm just worried about the problem. rather than answering the protesters, d

the petition was filed by creditor who says the company has not repaid a loan with billion hong kong s. on the move comes after china's evergrande, the world by a hong king court last month. as tensions with china rise, they are eyeing overseas expansion. the manufacturer opens its first factory in japan over the weekend with a second plan you with 2027. factories in arizona were announced four years ago but the opening of two factories there have been derailed by labour shortages. meanwhile, it's building a factory in the german city city of dresden. i spoke with hason hsu from the kennedy school who weighed in on to smc�*s overseas ventures. the situation in tsmc on project has been rather complicated. they were on the ground in december 2022 but over the course of the last year, it has met with labour shortage, union issues and then, most recently, it is not been able to confirm the subsidy that you will get from the chipset which posted $52 billion or so with every day going by, now that the machine is now running, the factory is not operating, it's a loss for tsmc. so, tsmc ends

there is a hearing hong kong scheduled in may. something we will be tracking quite closely. you have to dig into the details today. loretta chin joining us, thanks for your time. sticking in hong kong but shift things slightly, expecting to ease current -- concerns on property transaction when the annual budget is unveiled wednesday. many local politicians have been pressuring the government to help lift a lackluster market out of its worst slump in more than two decades. joining us is rosanna tang, head of hong kong research at cushman & wakefield. the expectation is we are going to have all property equities scrapped. realistically, is that going to shift the needle here? >> i think if you look back, the government has already announced an easing policy in the policy address last year in october. we did see that in terms of the transection folio. however, it did not really pick up the price, per se. i think for this time, even if they can completely ease all the cooling measures, it may help to restore market confidence and buye

in hong kong. haidi: the ceo of a hong kong-based utility will be joining us to discuss the outlook for businesses. the white house presses republicans to unlock assistance to ukraine. this is bloomberg. ♪ thanks to avalara, we can calculate sales tax automatically. avalarahhhhhh what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh get help reaching your goals with j.p. morgan wealth plan, a digital money coach in the chase mobile® app. use it to set and track your goals, big and small... and see how changes you make today... could help put them within reach. from your first big move to retiring poolside - and the other goals along the way. wealth plan can help get you there. ♪ j.p. morgan wealth management. ♪ >> some of the top stories this hour, joe biden is hoping negotiators can secure a temporary cease-fire between israel and hamas.

haidi: would hong kong be in the mix?lot of ways, that seems to make sense. >> i think they are still looking at the u.s. as the most preferred location. hong kong and singapore may also have been in their consideration. but london seems to be sitting at number two at the moment after the u.s. we should bear in mind this company generates almost all of its revenue in the u.s. despite headquartered in singapore and founded in china. it would make the most sense to do it in the u.s. but the political concern may be a huge hurdle. annabelle: do we get any sense about the valuation? this is a company that could have been worth at one point up to $90 billion. we know that has come down significantly. >> we have been tracking some of the private secondary sell in the company. we have seen some holders assigned privately at 30% discount, sometimes as low as a $45 billion valuation. that is still a huge number. it is nowhere close where it used to be that was thrown around a year ago. that in some way solves the liquidity issue f

now to hong kong.ional security law, the uk government has issued a statement, saying that it breaches its international obligations including the handover deal signed by the uk and china. article 23 is designed to close what officials call loopholes that remain after china imposed its security law on the territory in 2020 following mass protests. ted hui, an activist and lawyer who was a legislator with hong kong's democratic party, now living in self—exile in australia. i asked him if the uk statement changes much. it doesn't have any changing of the reality of hong kong of the legislation is going to be passed and of course, after the consultation period in the head of hong kong saying that it is overwhelming support in societies consensus for the legislation and of course, that is after the disqualification of all of us democratic legislators and also the putting injail of the activists and other dissidents and now, it can do whatever it wants. the hong kong government says that the law does not ta

that was it for many of hong kong. as pro democracy activists, dozens of opposition leaders were arrested, along with journalists and ordinary citizens. others went into exile. independent media was silenced, phasing signal that it had fully taken over in 2022. when g as in ping arrived in hong kong to swear, and john lee as the territories chief executive or the ceremony happened on july 1st 25 years to the day after the british hand over on service, lee has said that the new security legislation is a priority and with the opposition vanquished, he's likely to get his wish. last spoke to doctor eric live from the george stone center for aging law in washington, dc and the austin with effects this new security. lo will have on human rights and on call to this nation is a 2 or 2 little consultation paper as provide on lots of vague terms and have a lack of traditional saved gospel, free expressions, free association and free peace or assembly in hong kong school. sure, there's no clear definition of what national securi

hong kong economy, which hong kong really needs. but if you talk to any of the fans here, it is not about the economy, it's all about the beautiful game and a chance to see their hero here in hong kong. back to you, lynda. >> certainly a lot of excitement there. and hopefully a boost to the economy. kristi lustout for us in hong kong, thank you so much. we are going to take a quick break. we'll be right back. stay with us. you're watching cnn. >>> welcome back. seven-time formula one world champion lewis hamilton says his time with mercedes has been incredible after announcing that he will join the ferrari team next year. the racing sensation who's been with mercedes for 11 years insists that he's focused on the upcoming season right now, but hamilton says driving for ferrari is something that he has wanted for a long time. he wrote on social media, quote, i feel incredibly fortunate after achieving things with mercedes i could have only dreamed of as a kid. but i now have a chance to fulfill another childhood dream, driving in ferr

property prices in hong kong ranked one of the most expensive in the world with the hong kong dollars are at a high level. housing prices have lost nearly 20% of the valley over the last three years. and that's keeping you potential buyers at bay. a further relaxation of property stamp duties could bring in new sales. but that would also lower the revenue for the city. meanwhile, property developers want the government to scrap its property calling measures, saying that has failed to provide the housing market. next, the stock market. which is losing its appeal in the region. some analysts say china's deteriorating economic performance is to blame. last january, india overtook hong kong as the world's fourth largest stock market as investors but on the south asia's red—hot economy. the business community will be looking for the financial chief to address ways to restore confidence in the financial hub. at the end of the day, for short—term and long—term prospects to improve, hong kong needs to get its physical house in order. now that budget speech is scheduled for 11am local time, t

suny time, 8:15 if you are watching in hong kong.itcoin surging past $60,000 for the first time in two years as demand widens. we will take a closer look at the rally, next. this is bloomberg. ♪ ♪ (upbeat music) ♪ an ever-changing landscape comes with challenges. from our vantage point, we see opportunities. as a top-ten real estate manager, principal asset management harnesses the power of a 360° perspective, delivering local insights and global expertise across public and private equity and debt. our experienced teams are uniquely positioned to uncover compelling opportunities in today's market, giving our clients an exclusive advantage. principal asset management actively invested. annabelle: taking a look at the price of bitcoin here. it has surpassed the 60,000 mark. no trading at the highest level in the last two years, up 3% so far, in the sunshine today. the dynamics around bitcoin, some of the things pretty well understood at this point, we have the spot-bitcoin etf filings been approved and they started treating. then you h

team hong kong is going all-out. are playing hard, and every time they touch the ball, the fans in the stands, even the ones wearing pink jerseys, they are cheering out in support. this is inter miami's first-ever international tour. the co-owner of the team, david beckham, also here. he was spotted earlier, before the match began, at the top of the hour signing jerseys and adding a little bit more football star power to the proceedings. and this is a sold-out event. some 40,000 fans in the stands. earlier i spoke to one of them, the very colorful fan, listen to this. >> i'm happy to see him, obviously. happy for hong kong and all the fans, all the argentina supporters, all the new inter miami supporters. yeah, it's great. he hasn't been here since 2014. and he was -- he came as a runner-up, world cup runner-up, now coming as a world champion. it's perfect. >> reporter: we also spoke to a hong kong footballer who was selected to be on the hong kong squad. he told us how this encounter with messi, who is still on the

_ draconian law marking a new hong kong of— draconian law marking a new hong kong of completelyo deterring people speaking out from overseas and international applications like me. it is targeting me and my colleagues who continue _ targeting me and my colleagues who continue to speak for hong kong, freedom — continue to speak for hong kong, freedom and democracies. police scotland have apologised forfailings in a long running investigation, that left a killer on the loose for almost 20 years. the hunt for the murderer of emma caldwell, who was 27 when she was strangled in 2005, was one of the longest in scottish history. today, iain packer, who's 51, was found guilty of her murder and jailed for life with a minimum of 36 years. lorna gordon has more emma caldwell, a vulnerable young woman who was murdered in terrifying circumstances. her killer was this man, iain packer, who for a quarter of a century carried out a campaign of sexual violence. you would look for vulnerability and exploit it. you also abused women who were not necessarily vulnerable but were in a vulnerable posi

doing well in hong kong.r in mind though we are seeing moderation in terms of tourism numbers increased, so the magnitude of the increase may be as significant what we have seen in 2023. rate that was our senior asia analyst -- annabelle: that was our senior analyst for asia pacific consumer for bloomberg intelligence. you can get an insiders guide to the money and the people shaking up the finance at our hong kong addition newsletter every thursday via bloomberg.com/newsletters. we will have more ahead. this is bloomberg. ♪ ♪ (upbeat music) ♪ ( ♪♪ ) ( ♪♪ ) ( ♪♪ ) -awww. -awww. -awww. -nope. ( ♪♪ ) constant contact delivers the marketing tools your small business needs to keep up, excel, ow. constant contact. helping the small stand tall. annabelle: taking a look at the corporate stories this morning. nvidia insiders sold about $18 million of stock after it went to a fresh record. according to the washington surface insiders unloaded the most stock in a month since september. nvidia's latest results top eleva

the hong kong government were really hoping that an event like this would turn hong kong into a hub to drive tourism and help to rebuild the economy, but for all the fans showing up tonight it was never about the economy, it was always about the beautiful game. it was about football, seeing their hero on the pitch kristi lou, cnn, hong kong. >>> fifa says the 2026 world cup final will be held at the metlife stadium in new jersey. the five-week tournament will play out in the u.s., canada, and mexico, kicking off in mexico city on june 11th of 2026. for the first time in its history, this world cup will feature 48 countries, up from the usual 32 that participate. >>> still to come, surprise announcement, special performances, and historic moments. unexpected highlights from the grammy awards, when we return. >>> the biggest night in music lived up to its name with the biggest show of the year on sunday. the 66 grammy awards honor the best music of the last year with performances from artists at the top of their game. the crowd gave a standing ovation for chit tracy chapman for a rare pu

yvonne: stocks in hong kong extending gains. treasuries rebounding ahead of eight record sale. -- a record sale. we will speak with ceo joey watt in a moment and alibaba's profit may be expectations as investors await updates on sales of consumer assets. david: ok, to borrow a pun from these delicious young china earnings, there's a lot of good stuff to munch on. we have the prospect of a market rescue. getting data in hong kong and equity markets moving. we have to wait and see how the market ends. in hong kong it was 1.6% to the upside. csi 300 is up 4/10 of 1%. yvonne: more sizable moves in hong kong and you've got to wonder if this is the kitchen sink moment. xi jinping is set to meet with regulators to talk about markets. in treasuries we have seen stabilization after the selloff across u.s. bonds. solid three year. 10 year is coming up next and we will see if the demand is there to absorb the supply. fed speaker after fed speaker said march, the cut is off the table. david: yes, a few weeks away so it seems the pullback in

hong kong economy. but when you talk to the fans here, they are totally excited right now. this is not about the economy, this is all about the beautiful game and a chance to see their hero here in hong kong. kristie lu stout, cnn, outside hong kong stadium. >>> and sticking with soccer, there are reports that french superstar kylian mbappe will join madrid once his contract ends. espn says mbappe has not informed either team of his decision but expected to make the announcement next week. >>> just hours away from the grammys. and putting that show on air is often an act of faith that everything will go according to plan or at least will are memo memorable. their executive producer told us to expect the unexpected. >> reporter: music's biggest night is one big concert. fun for us -- >> never know what will happen on a live show. >> reporter: -- nail biting for the executive producer. >> i always say doing these shows is like running off a cliff and just like hoping that the parachute opens. are t >> rep

over asia stocks reporter john cheng joins us in hong kong today.us, how can this become a risk for the hong kong stock market? john: we are looking at $7.7 billion, quite a big number for hong kong stocks. it represents about two thirds of the total amount of k orea-yield securities maturing this year. what happens is when they mature, the issuers will have to unwind the hedges, as in they will have to sell index futures. that will, of course, create selling pressure for the futures market and that selling pressure can also spread to the spot market as well. it's adding to another headwind for the hong kong stock market which is already facing a host of issues -- china's economic slowdown, u.s.-china tensions, and this is another risk that investors will have to contend with. haidi: it has become a huge issue in korea. massive potential losses. what do we know? john: these securities are sold back in 2021 at the peak of the hong kong stock market. and we all know the story that follows, the hang seng china enterprise index has since fallen more tha

like most tickets in hong kong. believe the disappointment. >> reporter: how much did you pay for your ticket. >> mine was $2,280 i think. >> reporter: yes, you named your son after lionel messi, you didn't get to see him tonight. >> very far away, he's on the bench. like i said, i am extremely disappointed but i'm not about to -- i won't boo him. i don't like that's to do. or anybody. >> reporter: you'll still be a messi fan. how about inter miami, how is inter miami going to do in asia? >> i will support whoever messi plays for. but you might see people burning jerseys on social media. you never know. i heard people say i'm going to sell my messi jersey and by a rinaldo jersey. i won't do any of that. but it will hurt the inter miami brand. but they're one of the most, i guess, covet the most money in mls. i think if they play that carefully and buy some players they can rebuild the brand, but definitely hurts. >> reporter: thank you indeed for that. the hong kong government are also hoping that this event would b

solid gains in hong kong as well.hen there is the japan story, losing momentum, not at the 1989 a high but the optimism remains. japanese equities outperform. the nikkei is down 3/10 of a percent. let's look at how things are shaping up. we have fed minutes later today. the month of january, where they think cuts could happen. the next move could in fact be a hike. that is an outlier view but the fed minutes come out today. euro-dollar is one only needs and gains for single currency. wage data is coming in softer off the record highs in the pound, a little softness in you yields coming down with andrew bailey suggesting they don't need to hit that target before they cut. brent is $82, gaining 3/10 of a percent, tighter output. back to the corporate moment, hsbc shares are down after a profit missed estimates. the bank surprised investors with an impairment charge relating to investments. speaking to bloomberg noel quinn described it as a technical issue. >> i'm pleased that we have reported 30 billion which is a recor

messi fever is gripping hong kong. you've got tens of thousands of fans here, all clamoring for the opportunity to see their hero, the argentine football superstar lionel messi play in this preseason friendly with his team, inter miami, against hong kong. this is inter miami's first-ever international tour, and the co-owner of the team, david beckham, is also here. he's been signing football jerseys inside hong kong stadium, adding even more star power to the proceedings. this is a sold-out event, maximum capacity here of 40,000 seats all seoul sold out within one hour of tickets going on sale online just over a week ago. we got a chance to speak to the lucky fans who scored tickets. listen to this. >> really excited. actually, i'm from macao. i traveled a lot to come here. hopefully i can see him and sign a jersey. >> i'm a argentina fan, more than 20 years. this is the first time i have this opportunity to see messi and to fulfill my dream. since 2022, argentina won the world cup, champions. so this time is another t

a preseason friendly against a hong kong squad. this was intermiami's first ever international tour. the co-owner also here add ing o the football star power, but when messi failed to get up from the bench, the mood inside the stadium soured and the fans have been leaving crushed and disappointed. joining me now is a super fan here in hong kong of messi. a lot of people disappointed tonight. how are you feeling? >> disappointed, just like everyone is. really wanted to see him play. even for five minutes. >> reporter: you named your son after messi. you paid for the ticket. how much did you pay? >> about $300. >> most people are disappointed. it's really started from yesterday with the training session. because that was not cheap either. that was $100. so then today, we saw the signs. he wasn't on the substitutes list. and he was dressed in full track suit. so we were praying for good, but we were expecting the worst. >> the the prayers were answered. thank you for joining us now the government were really hoping an event like this

as long as regards china and hong kong. since the passing of the security law, a number of states suspended extradition. it is dangerously vague and broad. anything can be deemed a threat to national security under its provisions. you can apply to anyone on the planet. there was a very grave escalation earlier this year. language being used calling them "street rats." they would be hunted down for life. earlier this committee heard from his son sebastian and sebastian himself, simply campaigning for his father has been targeted himself. he has been threatened, he has been interrupted when he addressed the geneva human rights council. it has been made clear that if he ever returned to hong kong, he may himself be criminalized. my herbicide of's and i have been subjected to a range of actions. them of us are in hong kong, known of us are in exile. we are working for clients, seeking to hold china and hong kong in account for flake it -- in account for flagrant violations. it does not come close to the most extreme examples we

the hang seng in hong kong is up just about 0.9%. ous day's surge of optimism of china that pushed through more support measures. that's it for us here on asia business report. bye for now. bbc news — bringing you different storframes across the uk. fist different storframes across the uk. �* ' i? different storframes across the uk. ~ ' z: ., �* different storframes across the uk. ':: ., �* .,, uk. at 102, there aren't many firsts left _ uk. at 102, there aren't many firsts left for _ uk. at 102, there aren't many firsts left forjack hemmings. | firsts left forjack hemmings. today, he's about to pilot a spitfire he's long been an admirer of the aircraft. the sitfire admirer of the aircraft. the spitfire and _ admirer of the aircraft. the spitfire and the _ admirer of the aircraft. iie: spitfire and the harriet admirer of the aircraft. tie: spitfire and the harriet have succeeded in overcoming — if they had not, there'd have been an invasion, and britain would have become german. jack an invasion, and britain would have become german.-

yeah. con, reporting from hong kong. you're watching the, the news from roland business is up next to exploring the world's largest cruise ship and it's multi $1000000000.00 industry. make sure to stick around for that and the code for lease. and i'll be back with more as the top of the next hour. hope to see you then the what do these do for fun? via do gravitational wage squeeze. i thought. when did people begin getting high and low? think. gov, how do i need drums for the to the data and what perfect kill football find. find the on says get smaller with dw signs on the top 10 so.

let's shift because i want to talk about something that is a big story in hong kong. know if you have been tracking it but we had so much expectation this weekend because we had a friendly match being played by the hong kong side and inter-miami. this is a league run by david beckham. they were in the city for a friendly match and it did not really go the way people were hoping for because people had told out a lot of cash for this. a lot of cash and a lot of hope they would finally see messi play but not the story. he sat on the sidelines for the entire length of the match. you can just think about the sort of reaction we are hearing not just from the fans. it is a little wider than the. haidi: a very unfriendly reaction. i think the fans would say situation there. as you say, we saw boos and jeer s. the world cup winner sitting out his team's friendly. so loud after the final whistle. we saw spectators booing the players. jeering david beckham when he tried to give a speech. chanting refund for the more than 38,000 spectators. i suppose the point is the government s

interestingly, hong kong stock exchange making headlines all the wrong reasons today stop the hong konghas had such a tough time of late stop the next board in the united states, declines there as well. the nasdaq down 0.5%, the s&p 500 also down just slightly. a lot of news coming out of asia today, actually, which i will mention at this point. alibaba is launching sweeping price cuts to its cloud unit as growth slows down there, which is really interesting. alibaba's leao division launching price cuts as the group attempts to restore faltering growth in a key business unit. —— cloud division. and baidu share sliding, this is the chinese tech giants. some 7% in hong kong, on reports of weaker than forecast profits. if we give you a sense of the picture we are getting from asia today, the hong kong stock exchange, profits down significantly, baidu, it's saying it will have weaker than expected profits going forward, and alibaba slashing prices in order to see growth. it's giving you a picture of the china economy, mainland china, which is struggling currently in terms of growth. the imp

the decision and we just saw happens to deal with ship recycling, the hong kong convention, which will come into force in 2025 was drafted. so there would be minimum standards on sustainable ship breaking campaigners where it would override the basel convention, which deals with waste. remember the one from before that and so stop bridge, countries from dumping their trash and coordination, but active as of slammed the hong kong convention for being weaker. for example, it does not outright prohibit end of life ships containing hazardous materials from going to a country that cannot handle that waste and environmental the friendly way. and critics say, if the hong kong convention were to move things forward from the regulations, we have now it would ban or at least discourage the beaching method. now it does neither the convention with essentially green washington and green latham ships onto the beach. okay, and we've talked a lot about the role of international shipping companies and regulators, but what about the bangladesh should government? when we covered this topic before many of

the hong kong convention for being weaker. for example, it does not outright prohibit end of life ships containing hazardous materials from going to a country that cannot handle that waste and environmental eve friendly way. and critics say, if the hong kong convention were to move things forward from the regulations, we have now it would bad or at least discourage the beaching method. now it does neither the convention with essentially green washing and green light, the ships on to the beach. okay, and we've talked a lot about the role of international shipping companies and regulators, but what about the bangladesh of government? when we covered this topic, that for many of you pointed the finger at local authorities, the psyche of the government of butler. this is the gated to the needs of the devin upfront fees. we're looking for a place where they can dump their toxic fest, sorry you did was one of her son is an environmental attorney from bangladesh. she has been taking the ship bridging yards to court since 2003. as a r

that's a look at markets when we head towards out hong kong lunch break -- hong kong lunch break.in africa is next. this is bloomberg. ♪ at morgan stanley, old school hard work meets bold new thinking. to help you see untapped possibilities and relentlessly work with you to make them real. rishaad: this is

on a more international level, you and special rubber tour, or diana recommends amending to hong kong convention to crack down on beaching and human rights abuses. finally, to bangladesh. here the government has to shut down ship region yards on the beaches and it will feel more pressure to do so. if foreign companies will be forced to stop sending their vessels there. no developed country shouldn't be happy with standards that base of themselves. we lot improved in the part of the word threatening all of these actors. profits is vital because when there's a whole industry around skirting regulations, everyone makes money. the companies who want a higher profit, the cash buyers, the flag agencies and the yard owners, the people paying the price for this are the ones working on these dangerous facilities or living near them. are reality international companies like to hide by passing the responsibility onto middleman and this is possibly the darkest page in the shipping industry. but these uh, yeah, so unknown to most of the people. but being just this remains visible to people in bang

at the moment for hong kong it is not looking good. for onshore, it is the ai trade getting on the dim and sentiment from the u.s. and everything that happened with openai and sora. haslinda: steve, no change to one year mlf but it investors saying we will see cuts in the coming months. what are we expecting? >> we did not get that cut on saturday from the pboc on the one year mlf, because authorities do not want to see that you on -- yuan continue to weaken, so that is why eyes are on the five-year loan prime rate tomorrow, which is the reference rate for mortgages. that could be moved tomorrow, but as david chu, our economist said in the last hour, he thought the pboc should have moved on the mlf on saturday. we will have to wait and see what to do tomorrow as they continued to try and the risk and deleverage -- de-risk and deleverage in the property sector. yvonne: a 10 basis point cut is what consensus is expecting. is that going to do much to turnaround this market? >> it will not be a turnaround for this market. investors will be

hong kong is fairly flat. mainland china as well.state sector in china. and just how fragile it is. also in hong kong, interestingly, the monetary authority there has said it has issued guidelines to bank stood up measures for property mortgage loans, including adjusting the maximum loan to value ratio for some properties. action on the part of the authorities in hong kong to try and stabilise the real estate sector as well. let's look at the next board quickly so you can see how the us ended its session on tuesday. a mixed picture in the states. you are up—to—date on the latest business news. thank you for your company. have a lovely day. i will see you very soon. hello. temperatures have been falling quite quickly over the past few hours. we've got some colder air in place and there's some mist and some fog patches around for some of us to start your wednesday morning. so some fog patches, particularly through parts of southern and central england and east anglia, and then rain is going to be spreading its way gradually eastwards.

a good review of the market open in hong kong. be very optimistic to be pinning your hopes on following through, translating into any permanent boost of sentiment here. charlotte: so the real sure begin last week when they began trading. for hong kong, traders are trying to look at how we got so far after the first new days of new year, and today, we are watching closely, watching the hotel stocks, with chinese estate media, as cctv reported some gross more than 60%, and we are also watching airline stocks , with airline travel showing a stronger recovery momentum, so the consumption stocks we are closely walking and that is true of today's trading. paul a.: foreign investors are very cool on chinese assets at the moment. can you give us a sense of what the short interest is looking like? charlotte: so, all of the financial products provided have a change in appetite for chinese equities, and we saw just last week, there was a focus on emerging markets that exclude china, and this comes as last year the top selling etf is one that

chinese equities in hong kong slumped for a third straight day. chip designer arm adds 38 billion dollars into value after a record jump of 40%. the gain propels something to its biggest two day rally since 2020. l'oreal sales disappoint hit by weak demand from chinese travelers. we bring in numbers as they break in about one hour. let's check in on markets, because you had the fresh record from the s&p coming through briefly above the 5000 level and four straight days of gains were u.s. stocks pushing through commentary from fed officials and expectations rate cuts may come later in the year. you futures down by .1 of 1%. ftse futures down about .1 of 1%. s&p futures pointing lower by .1 of 1% but still holding at the 5000 level. it nasdaq futures flood, 17, 875. if had an auction of debt, 25 billion it will taken by the markets. 10 year at 415. japanese yen in focus on the back of comments from the bank of japan suggesting easy policy will be maintained once they move but if negative rates. 149 on the yen. 8% upside for oil, geopolitics central

in hong kong and singapore. 11:00 a.m. in singapore and seoul. welcome to "bloomberg markets: asia." rishaad: got stocks, futures, at a bond serving as the federal reserve chair pushes back on hopes of imminent policy easing. jay powell saying a large interest rate cut remains unlikely. a's latest place to stabilize markets has failed to stabilize markets is how the stock declines with officials offering no specifics. middle east tensions hitting new highs after a wave of u.s. led strikes in iraq, syria, and yemen with washington warning of more to come. those deal political tensions are playing out as indeed. but the federal reserve chair has been saying as well, and david, reiterating what he had to say and what the dot plot suggested to us. 75 basis points is that thinking, and that is actually what the fed chair actually did say, and i guess it is also after the employment report certainly. that was quite something, and just reinforcing the whole narrative of an economy that seems to be firing on all cylinders despite all of the interest rate

the hong kong government said the events organizer owes fans the explanation. he expressed disappointment but denied knowledge that the chipping would not play. the coach said messy and another player set out with injuries. cnn was at the match. >> reporter: a no-show on the pitch for messy and the fans are disappointed. what was initially cheers in the stands turned into booze and chance of refund. 40,000 fans clamored for the opportunity to see messy play with his team for a preseason friendly against a hong kong squad. this is their first ever international tour, the co-owner beckham also here but when messy failed to get off the bench the mood soured and the fans are leaving crushed and disappointed. joining me is a super fan. a lot of people disappointed, how are you feeling? >> the same as everyone else, disappointed. we really wanted to see him play even for five minutes. >> you named your son after messy. how much did you pay for the ticket. about us$300. >> very disappointed, most people are. the disappointment started from yesterday with the training