richmond bridge drive less than 20 min from the toll to 101 (anny hong): coastal cooling will develop onl develop on tuesday with more widespread and significant inland cooling expected by wednesday as a dry upper trough passes over the state. cool conditions will persist into thursday, with modest warming expected friday through sunday. (james) time to talk winners and losers with our financial expert rob black dow drops 150 points as italy worries unsettle euro zone . . . the dow jones industrial average fell 160 points amid losses in goldman sachs and ibm. the euro fell below $1.16 - its lowest level this year against the greenback - as italian debt rates continued to rise. the stoxx europe 600 fell 1.1 percent, weighed down by a 2.3 percent drop in italy's ftse mib. u.s. stocks dropped tuesday as political turmoil in italy and spain added to investors' worries and sent the euro falling to its lowest level against the dollar in 2018. home price gains ease in march, but growth accelerates in big cities . . .nationally, values rose 6.5 percent annually, unchanged compared with february,

madrid a two one lead a man by the name of rodriguez drew level in the sixty third minute but rio hong on to win the title for three on aggregate. here's a reminder of that top story that we're following for you armenia's ruling party has blocked nicole question ian from becoming prime minister after he led a wave of protests that unseated the country's previous leader in response he called on thousands of demonstrators outside parliament to hold a general strike on wednesday. you're watching news live from berlin we'll be back at the top of the loop the top of the hour rather with more world news we'll see if it. is going to. tell you no good today nothing would change you know the banks. and so was the language of a bank. speaking the truth global news that matters g w made for mines. global inequality and. quality in a. well.

the pot has swelled to 100 million hong kong dollars, about 13 million u.s. dollars. oneng kong residents that on horse races. that is an idea of how intense the people are about the sport. the story begins with bill benter, he bets 51,381 different out thesed on his rhythm one of those hits. won the biggest jackpot anyone had ever heard of and never cashed it in. put it in a safe and walked away. carol: explain that, because of course you pick it up. nick: he is not a greedy guy. venture was extracting money from the system slowly over the course of the season. if he had won this in or miss jackpot -- no one in the public wanted to know an american algorithm had won. doubly insulting. not only an american, but an american computer. nick: when someone wins the jackpot, someone puts them on tv. thaty wanted to find out these foreign computer nerds were siphoning money out of the system. $100 million hong kong dollar winning ticket in a safe, never cashed it in. he just continued betting for the rest of the season, knowing he would make back more. jason: how does he look ba

checking in on your morning forecast. (anny hongling will develop on tuesday with more widespread and significant inland cooling expected by wednesday as a dry upper trough passes over the state. cool conditions will persist into thursday, with modest warming expected friday through sunday. no major hot spots. bay (anny hong): coastal cooling will develop on tuesday with more widespread and significant inland cooling expected by wednesday as a dry upper trough passes over the state. cool conditions will persist into thursday, with modest warming expected friday through sunday. no major hot spots. bay bridge wb 80 is less then 30 min from the maze to sf. san mateo bridge less then 30 min from 880 to 101. richmond bridge drive less than 20 min from the toll to 101. (robin) we're keeping tabs on the red hot real estate market in the bay area and one of the hottest spots seems to be ..sunnyvale. kron four's rob fladeboe has the details about the latest record- breaking sale. escrow closed last week on this large, 2-story, single family

. >> hong on. i have been with my misses for 14 years. the first date was this epic?ve in california you go have a little bit of game. >> yeah. be you you get a second date. >> so, show. . i this everybody starts to look very familiar look at her face. she is like okay. >> i didn't know all of you guys like wine what a cosince dense. she is. >> i dock it over there. she is directing whatever is going on. were they supposed to be stantding on that little white thing. >> there we are. you got down on one knee. >> will you be my wife? >> will you drink more wine with me? >> and i believe the answer is yes! they are in the right place. >> that's all for now. we'll see you next time o escaping smoke. look at the scene there in san diego. crews were able to shut that door and ventilate the building. and the only damage was to the oven. >> fire officials say the building also contained a suppressant. but the escaping smoke posed no health risk to the public. >>> coming up, two yachts with only one spot at a dock. see how this one ends. >>> and big willie style is back. will

i have got on hong kong and one one on the mexico elections. jason: really good stories.e talked to chris about how he put images to those stories. carol: we have a couple of covers to talk about this week. let's talk about the one in the americas region of "bloomberg businessweek." it has to do with the mexican elections. chris: we shot the front runner, amlo, during one of his rallies. it is a cumulative occasion. everyone is crowding around him. we wanted the tag to be punchy and very sort of brash and get at his attitude, which is very grabbing at you. jason: he really is in the midst of this populist movement there and you've got a lot of people around him. chris: for the cover, we chose this fluorescent pantone. on the newsstands, it will really pop, and it has this bright, vibrant color. jason: the international cover gets to hong kong and gambling. how do you illustrate that? chris: for that, we also shot in hong kong at this racing track where this one guy figured out how to crack the code. we have this nice photo or to get the skyline of hong kong, in the foregr

do not miss our interview at about 1:00 p.m., if you are watching on hong kong. 3:00 p.m. so turn to your bloomberg for more on the story. just go to tv in your functions. coverage will begin when the results right. haidi: bloomberg is being told -- it takes more u.s. shale. morgan stanley to advise on the plan. acres in their packages. least $10 billion -- they are worth at least $10 billion. david: advising users to change your passwords. non-encrypted passwords have been removed from its system. no reason to believe at the moment that the information ever left the system of the company or was misused by anyone. tumblingsla shares more than 5% after elon musk told investors worried about -- questions in the call about cash flow and cash burn as being too dry and boring to answer. potentially, the ceo does not care about financial metrics or that they do not tell a good story. neither of which is good for an investor. getting this breaking line from berkshire hathaway. sharesught more apple the first quarter. david: you're looking at the price of trading. roughly $180

betty: good doctor is set to debut this friday on the hong kong stock exchange. s say it may be over 600 times oversubscribed. the ceo of being on investment subsidiaries tells us the chinese investor has an opportunity to be bigger than its tech industry. >> when you are deploying money, you have to be concerned. we are at a time when liquidity is abundant. there is a lot of capital chasing good ideas. medium,to focus on stage to later entrepreneurial countries. i won't call them startups. companies that are four to seven years into their lives. if they have revenues, customers, a business model, a platform, and a good introductory, chances are they will be well valued in the marketplace. our challenge is to find good evaluations and the ability to build partnerships that can be additive and can on the one hand reduce risk, build capabilities for us, and make aggregate propositions. >> earlier you talked about the at $6octor valued billion. how much potential is there? could it be as big or bigger than the financial sector in china? >> that is why we are so excit

on the way down. rishaad: 10:29 in hong kong, 12:29 in sydney. u.s. slowest pace in july. prices continue to rise on fears about trade tariffs. index fell to 57.3 from 59.3 while the protection measure dropped from 61 to 57.2. the biggest decline of the year. disappointing news. u.k. manufacturing slowed in april, adding sign that the oor first-quarter performance continues. a 7-8 month low. the pound fell against the euro and dollar. resumed later on wednesday, with the u.k. proposing a new plan for the irish border. wants to move quickly when the split happens next year. e.u. is promising to work around the clock to find an agreement ahead of next month's summit with european leaders. toxic air led to the deaths of 7 million people in 2016. nine out of 10 people around the planet faced dangerously high levels of pollutants that can cause cancer and cardiovascular iseases areas pollution worse in the eastern mediterranean and southeast asia. some levels of toxins were five times w.h.o safety limits. loudspeakers were used in the to deliver propaganda

it could be worth $3 billion when it lists on the hong kong stock exchange and it could be the world'soffering since 2014. we still do not know the price and the listing date yet there is speculation it will take place in july and it will be the public offering since alibaba. despite all the excitement and optimism, there are still some investors who are concerned about the slowing smartphone market but xiaomi, more than 70% of its revenues comes from smart phones. —— that could hurt xiaomi. recently, a slowdown in smartphone sales has been forecast. all right, thank you very much. let's squeeze in a few other stories. the commonwealth bank of australia has been forced to reveal it lost the records of almost 20 million accounts and decided not to inform its customers. following a report by buzzfeed, the bank — australia's largest — admitted it had lost two magnetic tapes containing 15 years of data on customer names, addresses and account numbers, but no pins or passwords. spotify shares dropped as much as 9% after the music streaming giant's results disappointed investors. in its firs

all eyes are on the fed's move and what impact that could have for rates in hong kong. the first we have quarter gdp and economists are expecting growth at 3.4% year on year. at the same time, the world's most expensive prices are holding up. about ae concerns looming trade war and what it could mean for hong kong and what the fed's move could mean as well. u.s. truly targets gadgets, hong kong trade will be -- you can see economic growth moderated hong kong as well. or now, property prices seem safe along with growth rishaad. rishaad: [indiscernible] defying gravity in this region. haidi, you are up again. haidi: it is familiar. we have been shopping -- talking about the strengthen the u.s. dollar. it is something of repricing. if you are you in the southeast asian economy, you should be watching the potential return. we have seen that it has been rising as the dollar. -- in fact, 1.2% because of the u.s. dollar story. clearly, we're talking to morgan stanley and their global strategist saying it is the best world you can live in. if we get the weaker return returning

hsbc, on the earnings front, down 3.3%. as fardown around 1.80 as the hong kong listing is 190. is concerned from hsbc, that is about one fourth of the points decline on the hang seng index. an health care, another uninspired trading day in hong kong. a lot of retail investors trying to get that. today,, resumed trade that is a simple case of retail investors taking profits according to analysts we spoke to. that is the picture across the as we wrap up an uninspired trading week. anna: there has been a lot of holiday action in the asian markets. david and heidi both joining us from hong kong. results from two of europe's largest banks this morning paint an interesting picture. beats estimates, but societe generale lacked. -- compared to 80% of s&p 500 companies, which have surprised on the upside. where should investors put their money? at --lti-asset strategist is still with us. let me take you through this chart, 911 nine, which shows s&p revisions. we keep talking about this bumper earnings season, that yet there is a lackluster reaction in equities. why? you are talking abou

let's show you what we have on the way. hongck in fashion with investors, but beware, buyers remorse. this is bloomberg. ♪ is bloomberg. ♪ speaking, thelers recovery stocks from three months ago. we have wolf real estate among the top gainers, a third of berkeley. can -- there was a slump in the hong kong dollars which perhaps in the margin brought in more tourists. let's make sense of this. we have reporter here now. >> we have seen a huge retail boom with some of the currency effects, and the hong kong dollar has been weakening, so it has made hong kong shopping quite cheap for mainland tourists, and we have seen first quarter jump in the data, 13% year on year, and we have the local elements. we saw hong kong first quarter growth the fastest pace in seven years, so it has the feel of local spending. haidi: i want to bring up this chart that shows a spike when it comes to mainland visitors clearly being tracked by how much they are spending and how much fitting into hong kong retail sales. this is in the gtv library. will it l

on story, the yen called higher. japanese stocks lower by 1.2%. weakness coming through in china and hongets today, but the jakarta composite has risen and bank indonesia is ready to buy more government bonds, one of the e.m.'s that has been hit hardest. the worst-performing in asia. turning to stock movers we are watching in the region -- before the closing china yesterday, the announcement china will cut the import tax. a big rise coming through in automakers listed in hong kong. a big fall coming through in cold players in china and hong kong as china is to raise coal prices and the state bank of india doing well in their session. numbery dismal yesterday, bigger than expected quarterly loss. there will be no dividend for full-year 2018, but analysts believe the worst is over for the bank of india. some strong buying coming through in that stock today. manus: great roundup. juliette solly in singapore. barclays is exploring a potential -- with standard chartered as part of contingency plans being weighed by board members. singapore ands in hong kong declined to comment. joining us, blo

on now. so what we're hearing is they try and get approval from the hong kong exchange on june 7.en hope to start pricing ipo at the end of june and we may get the final listing in july. they are hoping to raise about 10 billion u.s. dollars in hong kong. that would value, they are looking at a valuation of $70 billion u.s. dollars. you touched on with your guest, ipos in hong kong have sometimes been disappointing. them coming through. some of those that have down from their initial tradeings. going to see if they can meet the expectations, a lot of excitement around this. largest ipo he since 2014. haidi: tom in beijing for us. get back with the investment manager chairperson fund manager to get our views, as tom just entioned, we've had an apache ride. you see liquidity getting sucked up and this inevitable coming once the shares actually start trading. is this the kind of reception that you would expect for like the foxconn, really murky upyears? >> i guess. they are in a hurry to come to the market. i have this kind of feeling on the -- all over the world. especially happenin

ahead on bloomberg markets, do not miss our interview with the ceo and prospects in hong kong. dual shares. ahead, plenty of questions for the new ceo as the bank prepares to report earnings. what to expect and the results of a little later on. betty: a lot of talk in the ipo space. this is bloomberg. ♪ betty: this is daybreak asia i am in new york. yvonne: i'm in hong kong with the trump administration set for a second day of talks in beijing. it is what the white house calls a positive start to negotiations. it seems like things are going well for day one but they too -- gaptwo, america's trade with china widened 16% and there is also soybean data showing that china may already be in sight u.s. shipments. things about to get complicated? >> certainly, it is very complicated. we are seeing the effects already of these trade tensions. weather, it is the soybeans are the more needed effects on china's exports. looking atists are posted state of points suggesting that it is largely part of the trade tensions. these impacts are starting to play out for both sides. that is why these

on filing. this as we are anticipating a rise in rates which have been strengthening the currency. the hong kong dollar giving back its earlier advances. -- the house index trading lower. out of stock developers under pressure. let's pull up to check on some of those big drugs in hong kong. -- fallinguto follow the most since april 18. tencent almost -- down 2%. bit of a mixed bag. it looks like casino stocks are giving you some optimism. haidi: thank you for that. let's get the first word news with yvonne man. yvonne: interest rates unchanged. inflation is close to target. the fomc also did a weakness and growth for the first quarter, removing a reference in the merchant statement that the economic outlook has strengthened in recent months. they balanced that out by noting solid growth in business investment. the world economy shows signs of stabilizing after a recent moderation with manufacturing activities strengthening for the first time this year. crossed more than 40 countries, raised to 53.5 in april, marches six-month low of 53.3. the numbers reinforce advice not to betan chase agai

kong on wednesday we saw a record breaking heat for hong kong for the month of may thirty seven celsius the top temperature here at that stage meanwhile across southeast asia a lot so showers in play some particular wet weather for a good part of the philippines. part. good to have you with us on the al-jazeera these are our top stories russian foreign minister has met the north korean leader kim jong un and pyongyang. and watched come to moscow at the request of russian president vladimir putin russia appears to be trying to position itself as a player and any developments with north korea ahead of an expected summit the united states spanish employees are debating a no confidence motion against prime minister monti on the boy after twenty nine people linked to his ruling people's party would jailed for corruption the main opposition socialist party says it has lost credibility and u.n. agencies are meeting in jordan to discuss the plight of millions of soviets caught up in the world's largest refugee crisis seven years of war has forced f

on. correspondent in hong kong. ter on in the show we will be joined by the chief economist and tomorrow. what indonesia can do to stem this wrath on its currency and stock and farm market. this is bloomberg. ♪ haidi: a small company in japan with just one product has become the projects -- has become the country's most valuable starter. set to bey is now valued at more than $2 billion. it has the backing of toyota. let's take a closer look at this. peter, what is this all about? peter: it is not about coloring mangas, that's for sure. it's only about four years old but it is now the most valuable startup in japan. intelligenceficial startup and what has been able to do is forge ties with japanese manufacturers, particularly toyota as you have mentioned and neck if you think about google he coming eight power in ai because of its search engine and facebook because of its social network, preferred networks has thispportunity to tap into manufacturing data to the able to help the manufacturing process improve and they

hong kong, i am rishaad salamat. haidi: i am haidi lun. air asia sees revenue and passenger numbers on the rise. we will be joined by the ceo. this is "bloomberg markets: asia." ♪ rishaad: meandering a little bit, fluctuating between gains and losses. waiting for the trading day to kickoff in hong kong. it is a public holiday in korea and the territory. this cut in import taxes for vehicles, emerging market risks in the form of turkey. haidi: markets adrift. we seem to have this eternal struggle between do we look at the negative, president trump sang this north korea summit may or may not happen, or the positive, which seems to be extending this goodwill between washington and beijing, a combing of trade norms. we are 30 minutes away from the opening in china and hong kong. in the meantime, singapore, taiwan, malaysia online now. ,> looking like a mixed picture stocks in singapore and malaysia under pressure ahead of inflation data. we will get a gauge of how much the rise in oil prices have afflicted inflation. is up ahead of industrial output. investors contend with geopolitical worries, altho

is chinese smartphone maker growing at a blistering pace that will help it take on apple and samsung. we went live in hongwhere we were joined by stephen engle. an incredible success story when it was founded in 2010. i remember interviewing the cofounder. one of the first foreign journalists to get an inside look at this booming company. we had no idea it was going to become this large. they were a victim of their own success. one became a rockstar compared to steve jobs in china. he said he did not like to be compared to steve jobs but rather jeff bezos but anyway, they had an overaggressive expansion plan. one co-founder was hired away to google. they expanded very fast. some cheaper combat -- some cheaper competitors came along. and they lost their way a little bit. the growth went down into the single digits. but they have really turned things around ahead of the ipo which could be listed in hong kong i june. he spread into india. number two in india. they went to upper end as well recapturing some of the blistering growth they saw in the early days. emily: how does this set up the hong kong market t

chairman john mcfarlane is theoretically keen on the idea and said to be supported by his deputy. standard chartered shares surging in hongong. we will see what happens in europe in 15 minutes. for more on this story, bloomberg's asia finance editor, russell ward joins us now from tokyo. good morning. i am looking at a note floating around about this story. talking about there being no industrial logic to this combination. how far do you think it could get? russell: according to the report, it seems to be very early days. john mcfarlane is reportedly keen in theory, but this is only part of contingency plans brought on by pressure from an eight -- activist investor who took a stake in the company in march and so mcfarlane and his atuty have reportedly been an early stage. it is theoretical and whether it develops down the track remains to be seen at this point. guy: what else is on the table potentially, russell? broadly speaking, the directors have been discussing ways to increase shareholder returns. that is something jes staley has noted publicly. another thing they are reportedly considering is operation and.k. even m

they have been able to buy them through hong kong, but they are actually a lot more expensive on the . .t is a symbolic move they will have shares listed in shanghai and beijing. you might not see an immediate impact on june 1. we will get another addition in september. it is a process towards opening up chinese markets to international investors are you we might not see the stocks rise in large amounts. this is exactly what msci ones. they wanted to be a smooth process -- wants. it to be a smooth process. it is not a surprise to anyone. -- it will go as smoothly as possible -- as possible. now, we have a lot of money tracking msci indices. the emerging market, it is a must $2 trillion. -- this money will suddenly it will be a smooth process because that is exactly what msci wants. because it is a small slice of the markets, we are hearing from a few investors, that even if they do not immediately add the stoxx to their portfolios, they can do that in a staggered, steady pace. they're tracking arrow will be so small that it will be ok. we will see a very gradual process. we will see t

i want to highlight what is going on in hong kong. shares have swung to gains. its earnings. seeing lenovo over -- down 3%. when you take a look at what is helping to boost the benchmark, checking on that stock that is tracking gains in oil prices. reaching in april 2015 hi. this has crude edged above $70 a barrel -- for the first time since april 2014. we are seeing oil rally about 16% this year with geopolitics very much in play. ahead of that, we had iran coming out against higher oil prices. saudi once to see crude closer to $80. -- wants to see crude closer to $80. david: all of those things could give the prime minister this adage when it comes to those elections, midweek. we should note that the risk to be closer than many observers think. our chief international reportsndent haslinda in for us. what is the story there? haslinda: it is a tale of two sides. --kets 22 a definite win pointing to a definite win. ground, you will get a different perspective from all of them. it will be a very close fight. a close call. the opposition, under the leadership of th

flooding the eastern parts of china shanghai having authority wet day on thursday that rain makes its way down into northern parts of vietnam hong kong on the other hand should be dry at least for thursday a possibility of some bits and pieces of rain sneaking in as we go on into friday with the wetter weather makes its way further south and you can see the showers also affecting central parts of vietnam by this date sunshine the showers too across southeast asia the philippines seeing some lively downpours wet weather there for malaysia but dry in these. life for centuries now forced to think hard about their future. al-jazeera worlds meets the nomadic peoples of the atlas mountains. striving to deal with a changing world. and preparing their children for a different way of life. the nomads of morocco on al jazeera. hello again the top stories on al-jazeera iraq's electoral commission says it's canceling the results from over a thousand polling stations used in this month's parliamentary votes around ten percent of the total votes will now be manually recounted a group of gunmen have attacked the afghan interior ministry headqu

biggest smartphone producer and now it's planning its next milestone and initial public offering on the hong kong stock exchange this year according to reports the company hopes to raise ten billion dollars from the offering that would make this the biggest i.p.o. since chinese e-commerce giant alibaba launched on the new york stock exchange in twenty fourteen in the first quarter of this year show me sold twenty eight million smartphones worldwide eight point four percent of the market. now anyone who paid attention in geography class the gobi desert is huge dry and freezing cold it's also considered the most fertile part of mongolia with china's community of wine lovers going by double digits every year why don't make wine there. a vineyard on the edge of the gobi desert in the spring time the great finds are cleared off after spending that cold dry winter covered in protective soil it takes several weeks to resurrect the vineyard which is artificially irrigated but even if no one funky isn't at all put off by the challenges. ok even though it's expensive and complicated we said let's do t

oil on the way up. hong kong heading north. reaction as we make our way through this decision and implications. they will be watching those of the trading day gets underway. let's get back to the jpmorgan global china summit. thinks tradet tensions between china and the u.s. are likely to escalate to askas trump is likely for a surrender rather than negotiation. he is a trade professor at cornell university. dave? >> absolutely, haidi. this issue has come to the forefront of minds of investors. all day yesterday everyone was talking about the trade tensions between china and the u.s.. that is what we are going to talk about with the senior professor of cornell university, also a fellow at brookings institution. what is your assessment about how things got off last week with steve mnuchin and wilbur ross? at least publicly, not a lot of progress was revealed. washington, what the trump team put on the table was not a basis for a negotiated settlement. one can think of the u.s. starting off with a tough are getting solution, but

let's check in on the mood in hong kong. energy shares are again on the rise.res also on the advanced. auto is gaining 4.4%. it was outperforming after it 16% decline in the last 16 months. your carmakers are really gaining some ground today. david: cars, oil. thanks. week, weiously -- last had the chinese and u.s. meeting in beijing. both sides have agreed to keep talking. next week, and on that note, the top economic advisor in china will lead a delegation to washington. for more of what to expect, we are joined by our chief asia correspondent. expectations du e to what happened last. >> it is wise to manage expectations. he is going there, talks are ongoing. there is still needs to be negotiated. they have not completely shut off all communications. we know there is such a wide goal between them. even if you factor in that naturally in both negotiations, both sides will aim high. e u.s. same time, th amending $200 billion in two years along with a string of other measures. and demands on china to drop its market economy. side, they are making demands like tr

next twenty four hours it looks like the eastern side of china including shanghai was fairly dry hong kong's on the edge of it probably still rain for you then you move west of the higher ground and there's some pretty big dam pools on the way for high now and beyond further north up towards sichuan do mate south be dry but i wouldn't want to guarantee that the feed is continuous of humid warm and then result of course is the downpours we've equally seen some pretty big storms recently in the northeast of india this here produced a wall of sand a sort of mini hobby we feel like as it runs through this hot dry area the rainfall has been around bangladesh in the northeast colder and occasionally down in kerala and sri lanka but we're still battling with dry thunderstorms quite often in the north west though it looks like the next two days are probably going to be just overholt received received the last week or two middle eastern weather temporarily relatively quiet but this spawn of cloud is deceptive it is moving slowly south the channels are a kick up the sun in muddy views the odd thunderstor

on board malaysia airlines flight disappeared four years ago. and now the search for the missing plane is officially over. let's bring in hong kong "newsroom." for more on this. it's a huge blow of course to the loved ones of the victims on board that doomed flight. how are they coping with this news and why did the u.s. company ocean infinity decide it was time to end the search? >> that's a really good point. when this company ocean infyty approached the malation government. it was for a 90 day contract. that contract ends today. and the company said in an press statement that it ends this search for a very heavy heart. they know what a renewed search means. it brings so much hope from those families. and to return empty handed people are just heartbroken all over again. for those families of the 230 people on board they feel a real sense of abandonment and betrayal. from the malaysia government that promised it would find the debris. and they fear the loved ones this tragedy will go down as another footnote in history. >> reporter: a routine flight would rock the aviation industry. and shatter the lives of the families of 239 people on boa

of rare 60—year—old macallan whiskey fetched a total of more than $2 million under the hammer on friday in hongat sales shattered the previous records for the spirit. one whiskey veteran says the final bids exceeded even their expectations. it's quite extraordinary, really. we've never got close to the us $1 million mark and to have one bottle to have that broken again above the million—dollar mark, it's unprecedented, but it is a record but it shows the trend. do we know much about who is behind these huge bids. there are lots of collectors out there. are they from asia? they are out there. are they from asia? they a re often out there. are they from asia? they are often very private people. one was purchased through telephone bids so we might never know who they are. one was in the room but no information has been released. are they buying for themselves or someone they buying for themselves or someone else? bonhams in hong kong is the most prestigious spirits auction and that is where the big sales go through. but we see other bottles selling in the uk and the last record was £68,500, so we'

biggest smartphone producer and now it's planning its next milestone an initial public offering on the hong kong stock exchange this year according to reports the company hopes to raise ten billion dollars from the offering that would make this the biggest i.p.o. since chinese economist giant ali baba lost on the new york stock exchange in the first quarter of this year show me sold twenty eight million smartphones worldwide that's an eight point four percent share of the global market. now china is well on the way to becoming the second biggest nation of wine drinkers in the world the community of wine lovers is growing by double digits every year so far there's been good news for wineries from the napa valley in the u.s. to bordeaux in france because chinese wines had a reputation as being undrinkable for a long time but a new generation of wine makers has set out to prove china can do anything even grow world class wine. a vineyard on the edge of the gobi desert in the spring time the great finds are cleared off after spending that cold dry winter covered in protective soil it takes seve

on their earnings. tech leading the losses today. you look at some of the big darlings in hong kong. ow. stock,corp, a taiwanese up 9%. the taiwanese smartphone maker has been able to get a monopoly on some of these movers. this has been up more than 900% in the past year. something to watch. these bond yields -- kicking higher. the 10 year bond yield about 6% about 6%.eld at these have largely track each other for the past couple of years. yields beingnd more of a short-term driver for interest rates. one-ten forhitting dollar-yen if we see this in relationship coming back into play once again. :hhaidi: 110. some are calling for 95. thank you. this is how we are looking going into the open in india. a little bit of negativity. this is what we are watching. we continue to have these fluctuations when it comes to u.s. treasury markets. we are also waiting, in terms of the analytical -- political spectrum, results from elections in one of india paschi states. be majority may prove to elusive for the prime minister. vote counting has begun. jp is leading in three seats. the rival congres

it seems to have done worse than that, so they had to stop trading on the hong kong stock exchange, and to cease operations a couple of days ago as well, so it's basically put them on life—support. do you think this is something of a conciliatory measure ahead of these crucial talks this week between washington and china? yes, so analysts are saying this is perhaps about bringing beijing to the table, so we saw them meet in china, and they are meeting in washington next week, so this is being seen as a conciliatory move by donald trump. he said, don't worry, this seems to be their first sort of move towards peace. famous words! thank you so much for that. malaysia's stock exchange resumes trading today after being closed immediately after last week's shock election result, and all eyes will be on how its new prime minister said they would get rid of the goods and services tax. the economy has stabilised and while many analysts are concerned, the chief economist says he has a lots of confidence in the economy moving forward. it will mean lots of opportunities for malaysia and businesses.

the year seven right degrees maybe but recently temperatures have beaten all known records from one. hong kong thirty four is any degree below the standing record so it's hot in southern china hot on humid very unpleasant and that translates to heavy rain to the to the north of that shanghai is twenty three result of rain but that of course is the yangtze valley in a sense to right this time of the year the rain snoozed north and south is on his way south come friday it's much clearer weather and will hot and shanghai but because the sun is out it's also warmed up a little bit it will feel better but hong kong i don't think so is going to feel sticky and unpleasant there are some big showers to the south of that indonesia particularly in subtle ways see these to pop new guinea's has some very big time pools recently little unusual for this on the air and there's a massive green covering borneo back toward singapore as well the some big shows most of java bali sumatra looks shows of the dried that should indeed be the cases right the monsoon is gathering that sort of allowing the shouts co

chinese smartphone maker is growing at a blistering pace that will help it take on apple and samsung. we went live to hongwhere we were joined by bloomberg's stephen engle. stephen: xiaomi was an incredible success story when it was founded in 2010. i remember interviewing the first cofounder in 2012, one of the first foreign journalists to get an inside look at this booming company. we had no idea it was going to become this large. they really were kind of a victim of their own success. one of the cofounders became kind of a rockstar compared to steve jobs in china. actually he said he did not like to be compared to steve jobs but he was more like jeff bezos. anyway, they had an overaggressive expansion plan. of course as you know they hired , hugo barra away from google. they really expanded very fast. but in some other cheaper competitors came along and stealing their business model of online distributing of handsets. and they lost their way a little bit. the growth went down into the single digits. but late -- they have now really turned things around ahead of the ipo, which could be listed in hong ko

on the iran nuclear deal. i am betty liu in new york. yvonne: i am yvonne man in hong kong. ybreak asia ." u.k.ance, germany and the addressed president trump's decision to pull out of the iran nuclear program. the u.s. will reinstate sanctions on the islamic republic, that will open an uncertain new chapter for the middle east. deal, negotiated under the obama presidency, horrible and one-sided. pres. trump: at a time when the united states had a -- had maximum leverage, this disastrous deal gave this regime , a regime of great terror, many billions of dollars, some of it in actual cash. a great embarrassment to me as a citizen and to all citizens of the united states. iranian atomice energy organization to be ready, so if necessary, we can begin our industrial enrichment without any limitations. until implementation of this decision, we will wait for weeks and hold talks with friends and allies and other signatories of the nuclear deal. those who remain loyal to the deal will talk. >> malaysians go to the polls on wednesday. prime minister najib razak is it seeking a solid

united states plays host to round two of trade talks with china, the bbc has been to one city, just over the borderfrom hongg for the prospect of rising prices and maybe evenjob cuts. prospect of rising prices and maybe even job cuts. with around 1300 items on the list of proposed tariff increases, some chinese manufacturer is expected be hit very hard. we have more. if the trade war comes, this is where china will feel it. really feel it. it is near the south coast is. it was once dubbed the workshop of the world. in this factory, oil, lubrication is everywhere. the smell of it is in the air, it is under your feet. they make of it is in the air, it is under yourfeet. they make precision metal parts airand yourfeet. they make precision metal parts air and they reckon up to 300 could be hit by the new us tariffs. treseder our products include aviation and automobile components which are exported to the us. aviation and automobile components which are exported to the use ta riffs which are exported to the use tariffs are levied it will have a big impact. this tiny post out metal disc will eventually end up in

on "daybreak: asia." this is tomorrow. and it -- an interview with james bullard. that is at 7:00 a.m. hong kong time tomorrow. encent earnings outlook with the company stocks trading sideways these days despite stellar profits. what the concern is. this is bloomberg. ♪ ramy: welcome back. this is "daybreak: asia." chinese investors are unwinding their positions on tencent faster than ever. take a look at my bloomberg chart real quick. you can see this meteoric rise we have seen from tencent stock. clearly, you see this juggernaut 30the past decade soaring fold in the last 10 years. let's look at the performance. it has dropped more than 60% after reaching that peak january 23. to's bring in our analyst see what is going on now. they delivered strong first-quarter results, but ever since then we have seen the shares trade sideways. what is going on? >> there are several consequences the market might have. the potential decline in margins driven by investments in new business such as off-line revenues as well as growing on less profitable is this is like payment businesses. -- businesses like cloud payment busin

yvonne: i am yvonne man in hong kong. pressure on fed to consider a faster pace of interest rate hikes. dollar and treasury yields falling. joining us for now is daniel murray, efg asset management head of research. oversees $20 billion in assets. thank you for joining us. inflation is weak, has been pretty benign. mark carney signaling inflation could be weaker than expected throughout the year, china as well. have we seen enough of this goldilocks economy for you to consider buying more stocks? daniel: last year we saw an exceptional year for equities. the first year ever when we saw them go off each month. this year we cannot expect a repeat of such a strong year. nonetheless, that continuation of robust global growth, benign inflation, and continued central-bank accommodation is generally supportive of risk assets. yvonne: what about energy prices? what level of crude do we have to start worrying this could feed into inflation and scare the bond market? daniel: the way we think about the impact of energy on inflation, there is a

into worth a day temperatures in hong kong hang on to rather he made me crease me here me thirty degrees celsius the classics is way further south with s'soham positive china will turn a rather wet but it brightens up conversely there for shanghai temperatures here at around twenty six degrees sunshine and showers as per usual across southeast asia want to live the showers again just making their way into southern parts of the philippines usual showers there across borneo which malaysia seeing some showers from time to time there pretty wet recently in thailand staying pretty wet in thailand as we go on through the next few days bangkok at thirty two celsius maybe thirty three over the next couple of days hopefully by thursday the showers will just make the weather little further west with so shouldn't be too bad still got a few lives showers just around the northeastern corner of india some really big thunderheads showing up here as cause some flooding rains impart a little more cloud down towards of an heiress carola could see some

on the market could help. yvonne: venezuela and iran, too. ben sharples joining us in hong kong. amed up with twitter for tictoc on bloomberg, the first local network design for social media. also our top news reports verified by us. follow @tictoc. this is bloomberg. ♪ yvonne: if you see a chart on the show you want to see again, go to g tv and say those charts. you can browse through those charts on bloomberg television and catch up on key analysis and say for your future reference your morning meeting here. we want you to have that in your back pocket. this is daybreak asia. i'm if on. david: i'm david and glass. -- david ingles. look ellison is still here with us. manager and ceo for final thoughts. you were talking a little bit about what performance people are looking for right now so between now and the end of the year, what is the sense you get on the performance people are looking for? your clients, at least, ballpark? : our clients are mostly big pension funds, so on. we figure we run money for something like 100 million pensioners around the world. so they are not

on today. a big event in hong kong as the conference kicks off. nder of oasis management in about five minutes. had a big conference last year, it was up 30%. a good one. we will see if he can repeat it. he will not tell us who his bidding for. -- who he bidding for. heading over to beijing, we have the global chief had of economics -- head of economics for morgan stanley. cfo.so have the 3sbio's i was reading the description. the company focuses on cell-based biopharmaceuticals in the biotech industry, as opposed to have telling. reptilian.ed to two men flock david: we are also watching italy. a lot of things coming up. have a look at our calendar on italy. what a time to be raising money and hitting the bond markets. massive options coming up. 10 year bonds, five-year bonds, what happened yesterday you had a six-month bill option. was negative. look at the collapse. 1.65 was the previous bid to cover 1.1-1.2. it will be interesting to see how they come out. before we hand it off to "bloomberg markets," let's take a look at how your markets are tr

hong kong. investors predicting greater volumes through the gateway. this up on quota will instinct to the equivalent of 7 billion