jody schneider in hong kong, thank you. .ighter liquidity the highest since 2016. equity markets taking a hit. sanchezbackfires. the socialist loses in the fourth election in as many years. live in madrid next. ♪ manus: live pictures of hong kong, where protests have escalated. one person has been shot. police are investigating reports a man has been set on fire during an argument with a group of people. police are investigating. there is an area in the northeastern area. police are investigating that story. this is escalation. tear gas been fired. pressure, are under that is for sure. as we get more reports, we will bring that to you. markets are reacting. msci over 3%. you are seeing a tightening in terms of financial conditions and the hong kong dollar. you are seeing movement on the equity market reacting very specifically to the escalation of geopolitical risk. it's bloomberg daybreak: europe. the bloomberget business flash with tom mackenzie in beijing. alibaba's singles' day promotion is off to a start. $15 billion of purchases in less than 90 minutes, more than half of last year's record for t