pro-democracy campaigners gather in hong kong to mark the first anniversary of the death of the chinese dissident and nobel laureate usual. and welcome to the program u.s. president is holding meetings with british prime minister theresa may her country retreat this hour at the start of the talks trump insisted their relationship is very good and strong the president's positive remarks come shortly after an interview was published in which he blamed trees a made for quote wrecking brags that he believes her plans to proceed with a business friendly exit from the european union would leave it too close to the blog also added quote i would have done it much differently i actually told to resume a how to do it but she didn't listen to me. the comments come after several day from a two senior ministers resigned in protest over her brag. plans to get more on these comments let's bring in correspondent bigot mosse who's standing by in london barry good it's good to see you what has the fallout from this interview been. very very controversial really like. it's a house of parliament and many m

in terms of the characteristics of hong kong and how strong hong kong is feeling in itself, it needsich reflect that. if i was in her position, i am stocked —— stuck between a rock and a hard place because i have a chinese government that has different wants and needs from a own population, particular that young population. i call that the perfect storm. speaking of the megalopolis you are talking about, across the border from megalopolis you are talking about, across the borderfrom hong kong, there is one, and i guess hong kong must be feeling a bit shrunken in the grand scheme of things. must be feeling a bit shrunken in the grand scheme of thingslj must be feeling a bit shrunken in the grand scheme of things. i think that that is right. when you are seeing the ability for the chinese communist party, the government to create legislation which minimises hong kong's role as a financial services hub in preference to a new hub, like shanghai, we are seeing so much change take place here that i wouldn't be surprised if the hong kong example is seen as something of a case study how inde

pro-democracy campaigners gather in hong kong to mark the first anniversary of the death of the chinese dissident and nobel laureate new job oh. and a former bodyguard of the deceased al qaeda leader osama bin ladin is deported from germany to tunisia. plus defying iran strict as far we need the iranian women who are facing trial for not wearing the head job in public. the former bodyguard of the deceased al qaeda leader osama bin laden is deported from germany to tunisia. and welcome to the program at the start of his four day visit to the united kingdom the us president was invited to a dinner hosted by the british prime minister but at that very moment an interview of his was published in it he blamed trees in maine for quote wrecking brags that trump said maes plans for a business friendly exit from the european union. would leave it to close to the block he also questioned whether there could be a special u.s. britain trade deal in the wake of a so-called soft brags it in the interview he said quote i would have done it much differently i actually told to resign me how to do it but

correspondent kong wing in taipei thanks very much. or head to hong kong next for a high save rail project is causing controversy the line is scheduled to start operating in two months the twenty six twelve high speed rail line connects guangzhou to the chinese mainland and hong kong on the way it passes through the tech hub of shannon john and the idea here is to promote business and to promote tourism but the project raise some eyebrows after it was proposed that a part of the traumas in hong kong operate under mainland chinese law hong kong of course is an autonomous region of china and it has its own laws critics argue this is an attempt by the chinese government to stifle hong kong's autonomy our correspondent mathias boehner has more this construction site in hong kong is so controversial even union chairman. isn't allowed on site most of the workers hail from mainland china local union reps are persona non-grata i think our. technical speaking hong kong laws should be protecting these workers here. but we've been hearing stories

in the city have gone above and beyond to curtail their influence the hong kong national party a pro independence group that advocates separation from china has been given a three week ultimatum now they have until august seventh to explain writing why the party should not be banned all the species of political pressure. possibly of. the political parties and. seizures. every year the first one the next one coming up what's coming up on tuesday police delivered a letter to the group's founder and the chant saying it was recommending a ban on his party due to national security concerns in hong kong we have freedom of association but that which rights is not without risk struction. the whole of all the rights holder the rules. are restrictions can be made by law. if it is necessary and interests of national security john lee warned that he did he decided to ban the party anyone attending meetings or making donations to the group could face up to two years in prison he added however they'd still be given a chance to appeal his decision with hong kong's most powerful politician the city'

i am david english here in hong kong. here in honges kong.loomberg markets: asia." ♪ at 12:01,are almost it is a bit of an omen for a horny movie for trade as forstors -- horror movie trade as investors are waiting for terrorists to kick in -- tarrifs to kick in. david: the timing is also a little bit ominous. the five minutes before the closing bell for the morning session is perhaps going to be a bit exciting as well. once we do get to midnight, one of the things to watch out for will be the response and reaction from china. theuld imagine the given settings are set for that direction, they are already prepared to respond. let's get a sense of where markets are at this time. singapore is doing quite bad. a bit of a horror story as we count down to the tariffs. singapore billy feeling the pain down 2.3% as developers and banks are really taking it on the chin as government supplies more tightening measures due to take effect this friday. philippines also under the gun. we are seeing bright spots in the region. the nikkei up 10%. the yen on t

some car parks in hong kong are so small you can get yourcar in parks in hong kong are so small you can would be going out the back. you could do what 4 million people to hear every day and take public transport. in other news making headlines... canada counter tariffs have come into effect. 25% tariffs on various us metal products. 10% of more than 250 us goods like bic x, whiskey and orangejuice. trade 250 us goods like bic x, whiskey and orange juice. trade tensions are high as the president tries to negotiate a revised north american free trade agreement. —— beer keg does. big manufacturing sentiment standing at plus 21 injune. down through a second straight quarter. the mood soured full two quarters in a row. looking at the markets... the nikkei has opened weaker due to the trade tensions we're been talking about and also our survey not looking so good forjapan for the big benefactor is taking an impact. australia is gaining and that is because energy stocks are doing well after oil prices froze. that is it. thank you for watching. this is bbc news the top stories this hour. votes

hong kong.issan says it will decide on a new plant in china as it pursues its goal of expanding sales by one million units by 2022. the ceo says the first step would be to add capacity and the sons existing operation before any decision is made. in separate, it said it plans to spend $9 billion over five years to become the biggest global maker of electric cars in china. just ahead, caterpillar bulldozed earnings estimates, but investors are still jittery. out how that can affect is machinery stocks ahead of the market open. this is bloomberg area ♪ -- this is bloomberg. ♪ ramy: all right. so you're looking right now at the u.s. and japanese spot yen. we are also getting breaking news on the bloomberg terminal here. taking a look at the jobless rate as well as the job applicant ratio just breaking. 2.4% is the jobless rate. this is against an estimated 2.3% against a prior to .2%. we are seeing the jobless -- prior to .2%. -- 2.2%. it is coming in higher to the consensus of 1.6 percent. slightly

hong kong is marking the 21st anniversary of the handover of hong kong from britain to china with a flagf hong kong residents are expected to take to the streets today for an annual protest march, as tensions continue to simmer over the financial hub‘s democratic future. 0ur correspondent martin yip is in hong kong. this marks the first anniversary of mars carrie lam's office as hong kong's chief executive. just before she entered this venue for the flag raising ceremony she was greeted by pro—beijing spectators waving both hong kong and china flags. according to some pro—democracy legislators, the past year has been more harmonic between them and the government. while they do see those recent sentences against activists involved in the umbrella movement and the clashes as political persecution. while according to government this is only the exercise of the rule of law. for mrs carrie lam, there next year twill still see challenges, including the execution of the joint checkpoint plan, where a piece of legislation just got passed by the local legislature not so long ago. that will see ch

also their power on hong kong soil.egislature to protect the chinese national flag, piece of legislature to protect the chinese nationalflag, which has proven controversial as well. that was martin yip. stay with us on bbc world news, still to come: it's game over for argentina and portugal after losses on the first day of the world cup knockouts — messi and ronaldo among the heavyweights heading home. china marked its first day of rule in hong kong with a series of spectacular celebrations. a huge firework display was held in the former colony. the chinese president, jiang zemin, said unification was the start of a new era for hong kong. the world's first clone has been produced of an adult mammal. scientists in scotland have produced a sheep called dolly, that was cloned in a laboratory using a cell from another sheep. for the first time in 20 years, russian and american spacecraft have docked in orbit, at the start of a new era of cooperation in space. challenger powered past the bishop rock lighthouse at almost 50 k

we have the hong kong open, next. ♪ 9:29 in hong kong as we count you down to the start of the tradingllg you down also this data coming out of china. we have got gdp. we are also on top of that. we have retail sales and investor production giving a sense of where the economy is headed. we have wall street on friday. the s&p managing to lift itself tailwindsdding a few here. oil on its way down, too. looking at the price of oil at the moment. below $71. $70, $.70 -- $70.70 at the barrel. jay powell making a speech later this week, so that should give us an idea of his thinking. the open is upon us. half an hour from data. sophie: mainland stocks are continuing to wade in bear market territory. there is a debate wearing on about whether or not there will be an attempt to use monetary stimulus, but it looks like that s china is ready to provide a fiscal boost instead. has seen stocks the cheapest they have been in more than four years given this cap drop. we also have some commentary out from asset managers saying that chinese consumers are feeling confident. look at the gdp data later t

here in hong kong. welcome to "day break asia." asia pacific markets headed for declines after wall street gains fizzled out. investors remain worried about tariffs. the dollar pulls back after the pboc repeats the pledge not to use the yen as a weapon in a trade war with with the u.s. ramy: and from bloomberg's global headquarters, i'm ramy in new york where it's just past 7:00 p.m. lawmakers weigh the seven-year ban. malaysia's missing money. an arrest over the one mdb scandal and he could be charged later today. good morning, evn. good morning to our asia pacific viewers. taking a look at where we ended the u.s. markets here. what goes up yesterday in terms tech did go down today. the trade fog of war, for example, what's happening with z.t.e. being allowed to do some business in the united states. we have a lot of negativity weighing on the china side of the trade, tit for tat with china. yvonne: u.s. stocks closed a little too early to react to news on zte. perhaps asia can get a boost and at least the company can resume busin

miami yvonne man in hong kong -- this is "daybreak asia." i am yvonne man in hong kong.: i am kathleen hays new york. 70% of his company's products will be affected by the trump tariffs. bloomberg technology reporter in selena, has been covering this. why is it hitting small companies the hardest? have relied on chinese manufacturing and equipment, but it hits small startups especially hard because they do not have the same ability to be able to offset rising costs from paris and levy it with other products, and they also do not have the infrastructure in-house of customs experts, trade experts. i spoke to one company out in 70% ofnia, and they said their products could be hit by tariffs if the latest round of tariffs go through. if their large competitors like apple decide to observe the cost, they can be completely crossed out of the markets. they cannot afford to do that. startupto another small that has a smart home products and they spent over two years testing their products based on the one part of their product that is made in china. it is an automatic thermostat

it's a bit bigger than those ones you saw there in hong kong thank goodness and nice and tidy thanks to the germans i'll see you next time here on the age i'm banned by. the be. cool if. the. marrow marrow on the slopes of. the promised portraits understatements celebrating natural e.p.o. syngas. the be. makes. us. bureau mixed. thirty minutes on d. w. . his creations. his brand on mystical carlock effect icon of the fashion world. look what do we really know about the man find the torch it's what motivates him how does he think and feel private moments in the life of a great fashion designer when a song on smash and cut off it starts september not w. on freedom and whole. world i come from the region is rich in history started on talent but so poor in education and opportunity and freedom this makes it specially difficult for independent journalists i see many of the younger promising candidates who are now making a name for themselves all over the. song like good along the way song might follow. with continued. experience of freedom and sense is life experience that you can visit b

the countdown to the open here in hong kong. .1%.market wise, it is up the open for the hong kong marketcoming up next. this is bloomberg. ♪ counting down to the start of the trading day. that is the weakest one we have had in a year. this is all against this backdrop of donald trump suggesting that what we have is a currency manipulator for its manipulation taking place in beijing. deals -- yields are moving to the upside as well. china is trying to kickstart the economy to some extent as well. last but not least, we have a day where it was a mixed performance, u.s. equities have been the big story that. the victimant again of donald trump's higher. is a lobbyist for amazon. that was on the backdrop of alphabet having falling revenues. this is the tale of two markets with shanghai and hong kong coming through here. they are extending gains for a third session. i want to show one segment. chinese backers are continuing to show a tumble. fellow drug makers are continuing to slide. over in hong kong, something is adding a quarter of a percent. yuane seeing the offshore continuing to slip.

salamat in hong kong. markets.loomberg markets. to just happy friday 13th. have currently a move up equityor a broad markets. look at what's going on in japan. 1.4%. a move let's have a look at what may be china and hong kong markets. >> looks like futures are higher after the jump we saw for chinese stock. this is a bare market that seems tempting investors to buy back. -- that has led to the currency being the most ever.ated rebound,ecent release shanghai stock headed to the since may. we did have the rebound read by techng asres, zte surging as well in hong kong after signing agreement with the u.s. commerce department. future is not clear. u.s. senators are pushing for be instated. to >> lot to be grappling with trade numbers. we got this string of data over days from china. beijing ander to mckenzie there. get the travel. we're expecting to get out in hours these export numbers.t then on monday we'll get the second quarter gdp. the survey by bloomberg is going to come at 6.7%. quarter below the 1st gdp numbers. the full year target is six and percent. y

hong kong has come under a lot of pressure.ill continue but that will create some opportunities here. yvonne: mark, it is great to have you. forget our interactive tv function tv . watch us live and catch up on past interviews. part of the conversation. you can send us instant messages during our shows. this is for bloomberg subscribers only. check it out on tv . this is bloomberg. ♪ ramy: this is "bloomberg daybreak: asia." a quick check at the latest business headlines. tencent plans to spin off online music's nest. -- music business. growth in china mirrors the u.s. growth in spotify. -- told the the hong kong stock exchange they are still working. -- soson is has followed most has filed for an apo. giantsh janet -- tech could and collaboration at any time. labelsup, north korea america has disarm and and claims the u.s. is gangster like. we will look at the u.s. reaction, next. this is bloomberg. ♪ yvonne: good morning. happy monday. it is 8:30 in singapore right now and we are half an hour away from the opening of

i'm david ingles in hong kong. u.s.state mike pompeo fired back after the north issued a statement calling the american disarmament demands gangster like. >> i'm determined on the commitment president trump made and i'm counting on chairman kim. if those requests were gangster like, the world is a gangster, because there was a unanimous decision about what needs to be achieved. david: i'm guessing if they are gangster like, it is something you cannot refuse. david tweed is with us in the studio to talk about what these demands were. >> we don't exactly know what the gangster like demands were. pompeo wasthat when on his way to pyongyang, we had the impression that the u.s. was going to be asking to get some sort of flesh on the skillet. the thing is, it seems the u.s. and north korea are talking past each other. the u.s. is talking about denuclearization. it could besaying done by the end of the year. even pompeo saying it could be achieved by the end of trump's first term. they don't seem to be talking about the or the

yvonne: i'm yvonne man in hong kong.ld out all stocks in china. as the threat of trade war grows more intense. joining us is john fu. he manages about $60 million, all focused on asian markets. thank you so much for joining us. first time in your career you are doing this, selling out of chinese stocks. what is the rationale behind this, and a full exit? been managing asian equities for 20 years. this is not a permanent abandonment, it is a temporary avoidance. china is the largest economy in asia, and cannot be ignored. we are a fundamental equity house, and invest in stocks on a fundamental basis. we cannot invest in stocks in a vacuum. in environments where macro economics is more benign and normal, we do well in those environments. given the conditions today, we expect trade tensions to drag on and be even intensifying. it is difficult to apply a process. we are moving to look for other opportunities in asia that are less affected by this trade spat. yvonne: we will talk about those opportunities later. i'm wondering

we're in hong kong. be polite, we're in hong kong! >> these two have a fullon bromance going on.first worked together in central intelligence and then went big with "skyscraper." >> when you were writing this, was dwayne in mind? was this the guy? and was it -- >> no. >> don't ask him that. >> no. >> tom cruise said no, and then mark wahlberg said no, and then kevin hart said no twice. >> see what i got to put up with. >> there's also some great stunts in this movie. the crane stunt is phenomenal. >> you still did that 30 feet in the air. >> i was wired but i still did it. ran, jumped off one take. and boom, done. >> besides action, "skyscraper" is all about family. that's fitting since last april, dwayne and lauren hashian welcomed baby tia. >> she's doing great, mama lauren is doing great. baby tia is getting big. baby jazzy is loving her little sister. >> you didn't run off and get married, did you? >> i did not. >> okay. >> i refer to her as my wife all the time. that's why people are like, oh, did you get married? i'm like no, easy. don't rush big daddy. >> all right, you bo

broader complex here in hong kong. right is the small cap index.in good shape as head to the lunch break. we will be getting some reaction across market. is trading. yeah, here we go. counting down. where we go from here. lots more coming up here. as these continues tariffs kick in a few minutes. ♪ >> this is a special edition of bloomberg markets: asia. david: -- david: here we go.

i'm rishaad salamat and hong kong.by skied you a quick check of the latest business flash headlines. the air carrier says that profits have risen 23% from the year earlier to the equivalent of $42 million. in-flightumped due to sales and insurance policies. the airbus has 370 more on order had airbus and boeing. there is a weaker rupee . they boasted port -- quarterly to $1.3 billion with sales jumping 36%. this telecom business reporting a third straight quarter of profit. haidi: this bank posted an unexpected loss as it posted more money to cover debt. their provisions or than doubled last quarter leading to an $18 million loss as compared to the $213 million profit seen by economists. regulators in india and the u.s. accountingng icici's and corporate practices. rishaad: let's show you what we have coming up. mark is coming up next. this is bloomberg. ♪ this isn't just any moving day. this is moving day with the best in-home wifi experience and millions of wifi hotspots to help you stay connected. and this is moving

we are headed into the last hour of trade in a hong kong -- in hong kong. moore, next.omberg technology. coming up in the next hour, tesla sets its sights on china. how big of a blow is this to president trump's trade campaign against china? a brexit blow. what the divisions mean

it is all about hong kong progress. here we go. the hong kong open upon us. >> favorable open.er picture across the asia-pacific, up for the first time this week. the gains are enough to reverse the losses on monday and tuesday. they are higher on the hang seng index. stocks moving higher. the dollar powering ahead. two-year yields of the 10 year high. upbeat comments from jerome powell. csi 300. a weaker fixing, not as weak as estimates. 6.7250,ushing towards dollar offshore. h-shares as well in the mix. we will revisit some movers later on. let's have a look at tencent. one broker/its target. you have the target in green, the stock price and red. we are looking at the biggest gap in five years. as you can see, not a lot of upgrades to that green line. a 12 monthok at forecast, still some games, but expectations have been paired back. this is your deleveraging campaign in china in one single chart. is the track this, this chart from our gtv library. the blue line tracks the net creation of growth coming from the additional unit of credit. bloomberg monetary conditions index in

check out losses in hong kong. since january, 2016, i believe so this retvry being derailed by yuan weakness. with the currency above 670 for the first time since august. very much in catch up in mode. chinese developers in casino stocks hardest hit. housings concerns about curves. we do have some bright spots in the region. a.s.x. 200, utilities on the up. let's check out what's going on in the commodcies complex. we do have prices, print and w.t.i. rising today. this as saudi look to assess output boost in june. you have trading above 74 bucks a barrel, dave. david: thank you so much. let's get an update of the news, paul is with us in sydney for an update there. paul: thanks, david. the trump administration says it's a little premature to discuss leaving the world trade organization, though the president repeated his warnings about bad treatment. commerce secretary will burr ross says it's more important to impose reforms than walk away. axios reported that the white house has dropped a bill that would allow the

hong kong's top court has ruled a british expatriate has won the right to live in hong kong with her for foreigners in same—sex marriages, and one that was supported by major international companies. the woman known as qt sued the hong kong government after she was denied a spousal visa. her lawyer said this to us. with this change hong kong will have an advantage over singapore in that the banks will be able to recruit those they haven't been able to recruit in terms of talent. we are not as far as taiwan were same—sex marriage is actually allowed in the jurisdiction, but we are on that way, i expect. the markets before we go. among those that are open, the nikkei in the all ordinaries index in australia. lots of worries about the trade tensions. that is it for this edition asia business report. goodbye for now. this is bbc news. the top stories this hour: british police say two people who've fallen critically ill were exposed to the same type of nerve agent used in the attempted murder of a former russian spy and his daughter. footage of the boys trapped in a flooded cave system in

also coming up pro-democracy campaigners gather in hong kong to mark the first anniversary of the death of the chinese dissident and nobel laureate. the former bodyguard of the deceased. osama bin ladin is deported from germany to. boston fine iran strict as far flaw you need the iranian women who are facing trial for not wearing their job in public. and welcome to the program u.s. president donald trump is holding meetings with british prime minister tourism may at her country retreat this hour at the start of the talks trump insisted their relationship is very good and strong the president's positive remarks come shortly after an interview was published in which he blamed tourism a for quote wrecking let's listen to what he had to say. all right we'll head straight now to our correspondent barrett massu standing by in london bear get the comments were that tourism may is wrecking brags that and potentially there won't be a deal with the united states a free trade deal what has the fallout been from this interview well of interview happened here in the sun newspaper it's really a big w

. >> what i love about hong kong is the culture of hong kong.spending time in and, you know, our movie "skyscraper," the movie is set in hong kong. a lot of research went into it so there was a lot of reverence and respect to the chinese culture but hong kong is incredible to us. here all week. >> very welcoming. >> the food fantastic and the drinks as you know phenomenal and the buildings are really incredible. it is a vertical city and just spectacular. really a pleasure to be here. >> we have a clip of it. let's take a look. >> what i need to engage the braking system, 500 feet from here until the fire line. i want you to count to five and pull the handle. >> this is crazy. >> trust me. >> okay. >> how you doing, buddy. >> scared. >> it's okay to be scared. in order to be brave we got to be a little scared. >> oh. [ applause ] >> in order to be brave, we got to be a little scared. there is right. neve, we love you in the "cream" fran cliez and everybody was screaming in pplhae t wearing their fitbits because this takes intensity to a whole ne

stephen: we got a filing to list in hong kong.filing yesterday on the hong kong exchange that they plan to spin off their music ipo.ess is in a new york we don't have the details. they are figuring out when and how large. people familiar with the situation think that could raise one billion u.s. dollars. a bigger question about what they will raise in the united states and the streaming music is this doing quite well. they have had a dramatic turnaround. spotify is a key investor in tencent music, but it tencent music is going public as well as they are, try to bring in a western influence to chinese viewers, they could have a chief competitor. we will have to see. haidi: watching him for more details, stephen engle, chief north asia correspondent. don't miss our interview with .he xiaomi cfo that is 50 minutes past 11:00 in sydney, 9:50 in hong kong. ramy: david davis is said to have resigned. he is the brexit secretary in the yet it kingdom. this just crossing according to the telegraph. the secretary has resigned from the gover

the hong kong stock exchange.values the chinese smartphone maker at below $50 billion, which is a far cry from the $100 billion valuation touted one year ago. let's go to our asia business hub, where karishma vaswani is following the story. why was it not that week, massive flotation that many expected? it has been a difficult start for the smartphone maker xiaomi, when it debuted this morning, initially at one point four and more than 3.5% at recovering. mainly, investors are concerned about the valuation of the company, they think it has been priced too expensively. initially the public offering has been priced at around 17 hong kong dollars per share, at the bottom of the range it had originally intended to price its shares at. at that price, the company isn't out —— the company is valued at around $50 billion. lots of things clouding investor sentiment, among them, the fact that xiaomi, who makes other pieces of hardware equipment is not seen as a hardware equipment is not seen as a hardware company plus as an

rishaad: i am a shot salamat in hong kong. -- rishaad salamat in hong kong.oining us is jim mccafferty. in broad brush strokes, what is going on. ? jim: china is paying lip service to what trump requires. china has absolute control. policy,ols its one trip its fiscal policy and it can use its currency to make its goods more competitive in the u.s.. that actually acknowledges the trades. china is using all it has available to it. i will bring you a chart. this is showing one has been happening in the emerging markets and the pain their suffering. this is the emerging-market index stocks in the white. those see money flooding on right now. i'm getting a sense that we are china that bottom? jim: is down about 6% so far this year. japan is the biggest constituent of aipac. shock.an exhaustion us the stocks have responded to china pumping more money into its economy. endogenouslots of things that asian companies can do to improve the way that investors work with them. things like dividends, corporate governance, shares and buybacks. all of these things -- china is

it was issued at 17 hong kong dollars. they managed to raise over 3 billion u.s.f you take out the fees and commissions a chance to speak with the co-founder a co-founder at the hong kong stock exchange asked him what he thought about the company's share price. this is what he had to say. >> i think sometimes that price is mostly dictated by market dimensions what we will be doing is to focus on -- of the business. auto shareholders is able to share the -- of this company be focusing on great business and great products [ inaudible >> it's amongst the most highly anticipated ipos to come to market this year also it's special because it has weighted voting rights this is the first of the dual class shares to be traded in hong kong. it's lynne bin, the president you saw, along with the founder around chairman with the weighted voting rights which make up about 75%. those are the class a shares it is a class b shares that normal people are trading. the performance is being seen as a test of investor sentiment this as there's a growing list of tech companies waiting t

. >> our exclusive in hong kong.he couples he hooked up. >> i take credit. >> and exclusive tom cruise. >> get out. >> yeah, our "top gun" flash back that left him in his tear risks. >> this is "entertainment tonight." the latest on george clooney after his scooter dplash italy. >> news on his condition after his close call was caught on video. >> lucky to be alive. this is the shocking surveillance footage showing the head-on collision that catapulted george in the air. he crashes down, shattering the driver's windshield with his helmet. in the foot and obtained by the italian newspaper, the 57-year-old's body is then seen laying on the street. the driver gets out of the vehicle to check on him. authorities tell "e.t." the drive placed the emergency call to the authorities. according to paper, the driver said he didn't see george but stopped when he heard a loud thud. amal rushed to his side at the hospital. they left together once an mri determined he was not seriously injured. thursday george was back on his feet

businessman jimmy lie twenty million hong kong dollars i think are you still able to send money to the catholic church the only one suffix yes yes i may have been more and your fisher down the underground i would like to have more of the end of round but it's more difficult to do to be in contact with them easy to send money to them. but now i think. i find the more ways. you see the bishop may have many occasion where he thins ace is good to do something or to help somebody. but he had to use the money of the that isis i suppose or that he's has enough money but i am. a kind of outsider i'm a religious i'm not coming from the diocese so i have to be cautious to use the money of the diocese actually i never used the money of the diocese so the money our jimmy lie help me to do all sorts of things which a bishop may like to do. with that money in the last few years we've seen a growing reproach more between the vatican and the chinese communist party affecting things like the appointment of bishops yeah that's progress isn't it is it a good thing in your view no not necessarily. but not

from china because every is controlled but they can come now it seems that's easier to come to hong kong than before and so they come to see me and then they can send message through other people a number of years ago you helped get money to the underground catholic church money that was donated by a wealthy hong kong businessman jimmy lie twenty million hong kong dollars ali are you still able to send money to the catholic church the underground suffix yes yes i'm having more and your fisher down the underground i would like to have more of the end of round but it's more difficult to do to be in contact with them easy to send money to them. but now i think. i find the more ways. you see the bishop may have many occasion where he things ace is good to do something or to help somebody. but he had to use the money of the that isis i suppose that i use has enough money but i am. a kind of outsider and the religious i'm not coming from the diocese so i have to be cautious to use the money of the diocese actually i never used the money of the diocese so the money are help me to do all sorts o

debut on theng hong kong stock exchange.the open, trading lower than the ipo price at 17 hong kong dollars. the ceo spoke to stephen engle. >> you followed many ipos. alibaba. all the big ones. when they first ipo, they convinced the investors of imports of the company. stephen joins us from hong kong. you've spoken to some of the earliest investors of xiaomi. are they in for the long term? >> they are in for the long-term, of course. in a lockout. for 12 months so they don't want to talk down the stock. i asked them if they believed in the chairman's vision that they are not just a hardware play. this company started with online sales of cheaper smartphones, i should say less expensive because the quality was fairly ok. they get 80% of their revenue from hardware but the chairman pitched in this ipo and his pitching the company as an internet company. internet services in the most recent quarter accounted for just 10% of revenue. said they are internet company and should be valued as an internet company like facebook. this

the world's fourth largest smartphone maker, xiaomi, disappoints on its stock market debut in hong kong. we will be live in the region. and european markets shrugging off that big brexit resignation and the pound is holding up in early trade. but what could the pressure on the prime minister mean for her future at downing street? and we'll get the inside track on britain's plans for high speed rail from the woman running the country's only existing high speed link. can it help boost trade with the rest of europe after brexit? as more and more of us work on the move with a laptop and wifi, what would you miss most about the office? your colleagues, the gossip, the teamwork? let us know. use the hashtag #bbcbizlive. hello and welcome to business live. we start with that news this morning. britain's plan for brexit has a number of weaknesses. that's what the now former uk brexit secretary david davis has told the bbc in the last half an hour. he resigned from government late on sunday because he's not happy with the compromise theresa may reached with her cabinet on friday about the uk's f

the stray use leading anti money laundering experts question he finds it extraordinary that the bo kongs family wouldn't have updated the registry if the company had been sold normally there would be an obligation to update the registry to act or reflect to the new owners are you wouldn't still allow yourself to be listed as they are now because you're carrying liabilities for the operations of that company. the bocconi has financial questions to answer in a straight. in cambodia his official salary is less than one thousand dollars a month and he has no other no and sources of income but here in the southeastern city of melbourne he has millions of dollars worth of property and has established numerous companies. the company behind the recent property purchases is panna ridge p.t.y. ltd in twenty eleven the bowl kong is the sole director under strain in corporate sole directors of companies must live in the country. this is the address kong is given as his to the astray in securities and investments commission but having lived in cambodia since nine hundred ninety three and worked as a

it has raised 2.8 billion dollars in its hong kong i.p.o. saying that the retail portion is 9.1 times subscribed. trading set to begin on august 1. 2.98 billion hong kong dollars for how much has been raised. we know that tech swoon, the swoon we seen in hong kong hasn't been favorable for some of the big, hot listings that have come online this year. ramy: that's truly clear and evident over the past three days. let's get more on this as it continue into the new week. more analysts are saying it may be time to short those much-loved, at least until now, fang stocks. has the fang trade run its course? >> it looks like it's starting to. wilson get a lot of credit in this at morgan stanley he said folks need to be more defensive about tech stocks, rotate out of them them. bank of america much stronger. he nyse fang index down almost 3%. dropped about 9% since the facebook earnings and all those big names getting sold off. there's been a change in sentiment, not only the faang name, the broader nasdaq composite getting hit. about $462 billion t

hang seng in hong kong up by 1 e 1/3 percent.s for the trading action in europe, modest gains as well the german dax up. the cac in france up by a half a percent. the ftse on the heels of the headlines with regard to the brexit minister resigning, up by about a third of a percent as well courtn courtney >>> oil has been in the headlines. we've been talking about it a lot. wti is just slightly weaker on the session in the early going at 73.73 the action for brent is higher by a percent on friday, we also saw the moves go in opposite directions, at least for the settle with wti gaining more than 1% and then brent falling ever so slightly >>> let's take a look at what's going on with the dollar you know that's largely linked to the action in the energy market as well the euro is stronger against dollar also the pound is stronger against the dollar we're talking about what's going on with brexit in the uk and watching those moves on the pound higher by .4% and the euro is stronger against the dollar by .2% at one spot 1.77. >>> marke

china marked its first day of rule in hong kong with a series of spectacular celebrations.he former colony. the chinese president, jiang zemin, said unification was the start of a new era for hong kong. the world's first clone has been produced of an adult mammal. scientists in scotland have produced a sheep called dolly, that was cloned in a laboratory using a cell from another sheep. for the first time in 20 years, russian and american spacecraft have docked in orbit, at the start of a new era of cooperation in space. challenger powered past the bishop rock lighthouse at almost 50 knots, shattering a record that had stood for 34 years. and there was no hiding the sheer elation of richard branson and his crew. this is newsday on the bbc. i'm sharanjit leyl in singapore. i'm babita sharma in london. our top stories: 12 boys and their football coach, missing for nine days in a cave in thailand, have been found alive. the most senior catholic priest ever to be convicted of covering up a child abuse scandal is due to be sentenced by an australian court. and this story is popul

take a look at what is going on in hong kong. hang seng adding .8%. extending gains for a fourth straight day. checking and on the offshore 6.60.we do have it at that is going towards that level as we are seeing some of that recent depreciation getting some relief. at 7.50.isse witht suisse coming out some pessimism around chinese tech developers and industrials. given what we are seeing with hong kong markets, volatility on the hang seng moves lower after having picked up through june at the start of this month. dave, stocks to watch, keeping an eye on tencent after the price target was cut on a lower earnings outlook. this as smartphone gain sales -- game sales are gaining. taking a look at early start movers in hong kong, i want to highlight these movers. xiaomi gaining nearly 3% after its slide on its debut on monday. another gaining ground after a sales data beat. macau up over 3%. hold.ock was cut to david: thank you. lots of individual members. bear markets surely undecided. a few days of gains. four takes us on the way back to march as far as

in kong kong -- in hong kong, brilliance china. bmw lifts a stake in a local joint venture.ou. now we will look at a growing number of observers saying markets are being too sanguine about the threat from the united -- war. trade war kerry saying shares could drop 15% if trump goes ahead with additional tariffs. in the faceeen even of the current trade tension, markets may react on the day something is announced that they quickly bounce back. i am not sure that the possible downsides are fully appreciated. countriesy think that will all work this out and go back to normal and i think that is not absolutely clear, given the path we have seen. >> if we do implement this $200 billion tariffs war between china, all bets are off. >> meaning what? gdp will slow down dramatically, we will have even more uncertainty about the world and how the u.s. is being portrayed. rishaad: let's get some analysis on trade. do you agree with them? agree the risks are not being priced insufficiently by markets. at this point in time, there are global growth expectations still pretty solid, almost

yvonne: and i am yvonne man in hong kong.billion aussie dollar's according to a government forecast. reporter in our milburn. -- in melbourne. earnings from mining in into exports are rising, what is driving the gains? >> morning. that is right, the earnings are having risen about 11% in the 12 months that ended on june the 30th. earnings from mining and energy commodities, they are from a couple of things. we are seeing rising volume, things like lng products -- projects coming online. but maybe more significantly, we're seeing higher prices. australia's government says in this report that a rebound in commodities price is more robust than expected and they are continuing to see some bright spots across asia. they see continued strong infrastructure demand, places like indonesia and india are both rising him a lifting imports of commodities. they interesting as well, see a long predicted slowdown in chinese commodities imports, it has not happened as sharply as projected. they continue strong demand and it is keeping prices

in hong kong. i am yvonne man. welcome to "daybreak asia." the top stories this tuesday, asia-pacific stocks said to recoup from his office after wall street reversed earlier declines. tech strength topping the trade fears. commodities saw their biggest -- silver fell 2%. gold also down. ramy: from bloomberg's global headquarters, i am ramy inocencio in new york. president trump turns up the heat again, saying the wto treats america unfairly and must change. the superstar quits nike after 24 years in a deal reportedly worth $300 million. all right. good morning, yvonne, and to our asia-pacific viewers. it has been a really interesting trading day in the united states has restarted started firmly in the red off of all the trade tensions, trade fears. the stocks were down. msci asia-pacific also down. we thought it would be a negative day, but it was a session high. fangs really lifted the boards. to the rescue once again. when it comes to asia, we saw pretty's deep losses -- pretty steep losses. ramy: let's go ahead and flip up the boards to s

but a search of the cambodian company registry reveals robo kongs family appears to only a very large business and may have some questions to answer. one of the biggest petroleum companies in the country it was incorporated in two thousand and night but according to the records here it didn't register with the tax department until march twenty seventeen the same time as the cambodia daily it says on the company register that it only registered for taxation in twenty seventeen. other move while you're talking about i'm just trying to understand where the paps your own family company has main orders to to determine tax owed prior to when it registered with the department in two thousand and seven tank no two it's been a long time ago so that date on the official cambodia company registry is wrong. maybe they put in the system wrong. when i mention the company registry also shows that two directors and a chair woman all relatives live at his home address it seems those records are wrong to talk about to the wrong person. i think i have nothing related to this company but they share a hom

we're seeing them ipo in hong kong.rs will not be able to participate through the link in owning that stock. also,it is interesting with china's stocks at their billion lows $941 -- whats no applied for opportunities are they seeing their? i think valuations are a big one. we do not know when they may get approval. valuations on chinese equities are at multiyear lows versus global stocks and also when you compare them to chinese stocks in hong kong. it may look compelling. but also, as we know, chinese stocks are now in msci indexes. any money the cic has parceled out to foreign fund managers may will be benchmarked in msci. they need flexibility to hold a-shares even if that is not their primary strategy. ramy: we will leave it there. sarah mcdonald in singapore. says ahead, barclays beijing's deleveraging campaign may have harmed investment. we will look ahead to china's gdp figures. plus, a strong u.s. economy could embolden president trump to continue his aggressive stance. this is bloomberg. ♪ yvonne: this is "dayb