the first chinese restaurant appears in 1849 the macao restaurant founded by norman a. singh. he wrote a nasty letter to the government complaining about the treatment of the chinese in san francisco. there are over 40,000 chinese restaurants in the you'd. more than burger king, mcdonald's and kentucky fried chicken combined. an interesting thing happens. the men become involved in this restaurant business for a single reason. of the 120,000 people that showed up in 1848, the greater portion of them were men. it was hard to find a woman in the territory, then state of california. i retract that. you could find a woman, but it was quite expensive. what was to happens with this 90,000 to 120,000 men that show up, they're all young. the greater portion are under the age of 21. at this point who could make the trip? if you grow wheat or corn it takes several months. if you grow bok choy, it takes five to six weeks and is ready to eat. it's better the younger it is. the shoots are more edible. so this man had fresh vegetables almost instantly. they began to cook for themselves and

as i said before, there's a secular tailwind in macao even though it's postponed by recent outbreaks of delta in the region but these are companies that can produce $3 a share in earnings and $3 a share in dividend and trading at three times eb to ebitda >> greg branch, thank you very much we appreciate your time today. >> thank you. >> fantastic. >>> chinese tech stocks are rallying on a number of headlines. dom chu is here to tell us which stocks are on the move and why dom? >> some of the biggest tech and com services stocks are up huge today. there is general sense among some investors that things may be due for an upturn you've got alibaba and baidu impressive lehigher. for jd.com and pinduoduo both reported better than expected quarterly results. there have been a slew of reasons why companies have been hammered, absolutely hammered over the past several months, not the least of which is the more than an apparent effort by the chinese government and chinese communist party to crack down, regulate and stem the growing influence of those tech beheem ots we've lost half of the val

rely on information to publicize those expanding the country's anti-sanction laws to hong kong and macaocomprising the vote that would have made it easier to punish companies with operations in hong kong and macao that abide with u.s. sanctions. many view that could undermine status reporting for cnbc business news, beijing. >> bullish on media names listing disney and netflix as top bull cases to close out the year from q 2, tough comps. what's magic about netflix and disney >> unbelievably strong advertising and the stocks in media have been the cyclicals and a tough year in comparison and had an unbelievable year on net ads as they came in. we think those trends reverse. those comps get easier and harder when it comes to advertising. for us, we think the best opportunity in streaming comes back and some of these underperformers would under rate disney and overrate netflix's. >> these products are relatively low and drive engagement by no means have we put in that pricing and in many ways netflix has shown a way and raised the prices conservatively 12 to 18 months by market and to driv

macao bank and -- in jakarta. watching for strong demand for both offerings.entral banks have been key drivers. we got the -- decision to do this friday. plus, governor low addresses parliament ahead of the quarterly parliament statement. the aussie dollar headed for arise. we have seen the peso under pressure. amid speculation around triple archive. the prospects of easing from central banks in both countries could add to downsized pressure. >> still ahead, president biden will allow hong kong residents in the u.s. to stay for up to 18 months. we get reaction from beijing. this is bloomberg. ♪ ♪ >> you're watching daybreak australia. president biden invited big automakers gm and ford to the white house as he signed an ambitious executive order. the goal is to have half of all vehicles sold in the usb emissions free by 2030. notably missing was tesla. the company that sells more ev's than any other. biden says electric vehicles are the only way forward. the faa calling on u.s. airports to arrest unruly passengers and ban people from sneaking alcohol aboard fli

this law would have allowed beijing to potentially punish companies with operations in hong kong and macao if those companies are to abide by u.s. or european sanctions. kelly? >> oh, that's interesting. so, they delayed that piece. i mean, that's a whole, i guess, sort of separate discussion. i didn't realize that's very, very good to know on the flip side going back to what's happening with data protection, a lot of people have pointed out how swiftly tech giants have falling from the ranks. is china betting in the long run these valuations and their growth will eventually recover. >> reporter: well, yeah, actually, they are in fact state media today, a very influential economic journal had that exact point as one of their headlines they were saying in a commentary that this is short-term fluctuations for a longer-term gain and that the main point of what the government is doing is really trying to make sure that the economy, that the internet standards and data privacy and all of the regulations are up to snuff to make sure that it's a healthier environment for companies overall. so, th

agenda items including the anti-sanctions law that was supposed to be expand the to hong kong and macaonies that abide by u.s. sanctions. they've been concerned about by this there respect a whole lot of details of what it would look like hong kong is known to be a premier place, a financial hub no specific details as to why this law was postponed or the vote was postponed but there is still expectation at some point it will be revived and likely go through. >> fascinating to watch. in an economy that size. i do see the growing pains that will be inevitable with income and equality that will happen and people are succeeding it never is. you try to do your best. it is interesting watching the growing pains. if i was to come back as a world leader, i'd want to be in china. just do whatever i wanted. it would be fun. >> that would be if you came back as president xi jinping the big risk if you were to come back and be president xi is that everything would be on your shoulders. the risk is, if you make a wrong mistake, that is the issue >> i'd like to hear putin talk about wealth he's suppo