. >>> hong kong medias say anger over police corruption triggered a riot in mainland china. people clashed with prison on saturday. media outlets say the trouble began with a traffic accident. they say an unlicensed driver drove a car into several vehicles. no one died, but five people were reported injured. the associated press quoted one resident who said people game upset when police and paramedics took nearly an hour to arrive. drivers involved in the accident and bystanders fought with police. they overturned three police vehicles. authorities brought the situation under control by the end of the day. >>> south korea's largest opposition party and politician are still working to pick a candidate for the country's presidential election next month. representatives of moon jae-in and ahn choe. the negotiations had been suspended since last week. details of the talks were not available, but at a press conference, both men showed strong motivation to be the candidate. >> translator: i was chose nn a preliminary election for my party. it would be impossible for me to make con

all i can tell you is the bums were wrong on mainland china.hip proved not to be a great investment so far. i'm sorry about that. because i talked a lot about it, frankly. >> it's a head scratcher. every morning you come in and see what shanghai as done. unbelievab unbelievable. >>> as you're talking, kbw. special dividend. $2 a share. ten times the current annual dividend of 20 cents. interestingly they are going to cut the cash part of the stifel deal to reflect a special dividend. brief spike there. >> great company. >> another one onboard. >> sold for very little premium, unfortunately. this is a very fine, highly respected boutique organization. highly respected in financial services, financial advice that sold the company with very little premium. it's a sign of how difficult the whole business is right now. >> overall yield is just 1%. $2, that's going to get your attention. we'll see where the stock goes from here. >>> meantime, a hotel chain stock with a stealth rally today. over to mary thompson for a market flash. >> taking a look at

mainland. now if you take a look at china overall and hong kong versus shanghai, it's a very different picture.tter. whereas the mainland and these are only open, the mainland is only open to people living in china and mainland china has been under performing. how do you explain this? a lot of people have asked me to get a little more explanation. here it is in 30 seconds what i think is going on here about this huge divergence. shanghai is a very, very different market. it is only open to domestic investors. that means international investors like us can't get in. it's got a much bigger float than hong kong. they have flooded the market with shares and there are efforts here now to buy back shares. i think there's too many shares trading into the domestic market and so the liquidity, there's not enough liquidity for it and also more alternatives for investors so they can go into real estate now for example as opposed to staying in the stock market. contrast that with hong kong which allows global investors in like us and it's a more efficient market overall because of that. so let me just show

. >> and they're from mainland china? >> yes. >> and they want to come here, what? are these large places? are they going to open businesses here? they're safety deposit boxes and places they can enjoy and places to have money that's not in their homeland. >> so if i want to buy a condominium in miami can i get credit for it, can i get a mortgage? >> but not with a lot of leverage. 60%, and there are larger banks that are getting back into the market there. one of the things i want to point out also is in new york, because we do business in new york as well, is latin american buyers who traditionally looked at miami as the place to put capital or brazilians, they're now coming to new york and then mimy is getting more russian, more european buyers. >> are you seeing the same thing? >> yes. >> miami is the center of latin america, that's the way i always looked at it. >> not anymore. >> you're pretty darn optimistic, both of you. that's it for this evening's show. thanks for watching. i'm larry kudlow and we'll be back on monday to pursue free market prosperity. up.

it's also the listing rule because only hong kong, only mainland china, cayman island and just four all together places, companies, can be listed in hong kong according to the listing rules. but actually they have loosened already the rules over a couple of years as we can see from russia, canada, u.s. and most countries in europe. so they want those companies to be listed in hong kong, not just those state own company to boost the stock market. >> will they just make it easier? >> definitely easier to list it in hong kong, but still they need to fulfill some of the listing requirements such as if you want to be listed in the main board, there is a three test you need to pass. if not, only some of the resources comes, some of the restriction. but overall why notally speaking, some of the worldwide company like prada, they're doing quite well. so i think this is one of the growth generating points. >> picc might be on its way. what will happen to that? >> as you said, the ipo market is doing well recently. up 12%. one of the casual dining chain prettier. and picc will be the biggest ipo

mainland china has almost one million millionaires, and nearly half say they want to invest in the u.sof their status, you know? you can show off to your friends or family that i can buy something overseas. not everybody can do it. >> reporter: so the big picture nationally, jon, after crashing in prices are back to levels we saw in 2003 before the so-called housing bubble. back to you. jon: william la jeunesse, thank you. and we'll be right back. twins. i didn't see them coming. i have obligations. cute obligations, but obligatio. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. jenna: right now, more than two million of the long-term unemployed could lose their unemployment benefits at t

taiwan, like mainland china, was a leninist dictatorship. with khan kai-shek learned at the same feet at chairman mao learned at, dung show ping among them. but what we learned in the early '80s was gradually, peacefully the transition into a democratic system that has been successfully struggling as every democratic system does to create an impressive independent legal system and judicial independence. this is a great achievement. if we look to history as a course of reforming what takes place many china, we don't have to look very far across the water to see in taiwan people who are chinese people -- despite their important 50-year experience with japanese colonialism -- have made enormous progress. they are refuting the alibi that we're different, we're chinese, we didn't go through the true english 17th century revolutions, we didn't go through the bill of rights experience of the united states, but the rights of man experience in france. so go away, don't bother us with rule of law, judicial independence. taiwan is a reputation. and i t

some buying, these guys are getting two and three homes at a time, mainland china has almost a millionw. you can show off to your friends or family that i can buy something overseas. not everybody can do it. >> the chinese like the u.s. because they get more bang for their buck. 2 nill in shanghai will get awe condo, two bedroom. they're investing a lot in the commercial. $2 billion last year. that's quadruple several years ago. back to you inform good way to make money. live in the city of angel, thank you very much. >> brian: the realtors get commission. now the rest of your headlines. >> gretchen: the powerball jackpot could get bigger than the 425 million on the billboards right now. there has been a big frenzy of ticket sales since sunday and lottery officials are considering boosting the jackpot. they'll look at current and estimated ticket sales to make the decision today. don't forget, the drawing is tomorrow night. >> steve: meanwhile, remember this guy right here who looks an awful lot like me is it that is governor lincoln chafee of the great state of rhode island. he trigge

. >> looking at your pie chart again, exposure in china tiny versus how big the mainland is. it has been slowly evolving. there are hopes of a leadership transition that's taking place in china now. might be just the signal for many different businesses to get back into china. how are you viewing it? and are you poised on the sidelines if regulation does loosen up to allow more exposure there? >> that's exactly what we do. we are trying to learn. we think it's an extremely attractive market. to date, the totality, all of us together. most countries where we operate, we are 15% to 20% over market. so we don't have the size we would like to have. we believe in china. we are learning and waiting for such time. china is going to have a major demography transition, will require a lot of capital. and when the time comes, hopefully we'll be there ready to do what we do best. >> elsewhere, the bank has -- over the first nine months of the year. net losses at the world's oldest bank hit 47.4 million euros during the quarter with trading gains offset by loan losses of 461 million euros.

china. the protest comes amidst a year of heightened tensions between hong kong and its mainland rulers. >> there are no political reforms at all. we only see regression in human rights. we only see regression in democracy. and we feel that this, this party now is only tightening up the suppression of human rights, tightening up suppression of freedom of speech. the above those rights are protected here. this was the scene -- in >> this is the scene back in july when hu jintao visited on the 15th anniversary of hongkong's return to china. the old colonial flag is a visible sign of rising discontent in a city with calls of one-person, one-vote, grow stronger every year. the chinese government says this city make it universal suffrage as early as 2017. but despite talk about the importance of political reform by mr. hu, the lack of progress in china itself means many people question the sincerity of that promise. that is why the activists are targeting beijing's liaison office in western hong kong to protest when that party will. the mistrust of government stands at the highest level in more

china. toyota is planning to launch 20 new models in the mainland over the next three years. at the same time, nissan will make its first electric car under its china only brand by 2015. and despite the rocky relations between japan and china, the two countries are determined to strengthen trade ties. in cambodia earlier this week, the two countries plus south korea said they would formally launch negotiations on a three way pact with talks due to start early next year. joining us now, steven nagy, assistant profgts essor of japa studies. and andrew is still with us. steven, how significant is it that this week in cambodia with korea they're looking to extend trade relations. what does that signal in turn with the new leadership change? does that mean relations over the island going to get slightly better than they have been, do you think? >> i think relations between japan and china in terms of the direction that they're going to go right now are based on the relations of the past and especially the post world war ii period. specifically strenenning economic relations, contin

china firmly on track. this doesn't mean in-flows to the mainland is expanding. latest data showed another contraction extending the longest run in falls of three years as corporates continue to cut back on spending because of global growth uncertainties. china drew in $913797 billion in fdi money between january to march, down 3.45% compared to last year's figures. harry is now good. let's kick off with previously renewed tensions and violence in the gaza strip hasn't fed in. >> i think the latest events add an additional layer to pre-existing geopolitical tensions. but the current geography of the events over the past couple days doesn't impact oil transit points. so as a result, i think the market is taking this in stride. the real geopolitical problem is going to be iran as you mentioned, especially as sanctions on iranian oil unfold and of course concerns over its nuclear program keep on growing. >> i guess the question is how long does iran sit by quietly. >> i think we'll be seeing iran doing more of the usual antics upping the rhetoric. potential conductin

china. nissan's lower profits in the fr the mainland. toyota hiked its forecasts yesterday. and suzuki is given up on selling cars in the united states other than hawaii. what's up with them? >> hi, ross. their u.s. distributor filed for chapter 11 bankruptcy protection today saying it would no longer sell cars in the u.s. mainland. suzuki mostly sold small cars and full wheel drives in america, but only sold 26,000 vehicles last year. by the end of september, its u.s. distributor had accumulated $346 million in debt. it's now the second japanese carmaker to exits the u.s. car market, but it will continue to provide parts and service for existing customers. suzuki hopes to strengthen its earnings in europe. shares rose on the news, but investors are looking ahead through friday when a sue szuki reports earnings. >>> and another japanese maker is planning to k3exit europe in january. they blame partly the yen's strategy. >>> still to come, nestle has a recipe for growth. we'll find out the its ingredients from the ceo. >>> debt troubles continue to steer multinationals toward

china's unification. we have embarked in which they on the mainland to draw on each other's other's strengths and pursue commonvelopment and the success is one global recognition. the underlying goals of the principles and policies adopted by the central government is to uphold china's sovereignty, security, and development interest and maintain long-term prosperity of the two regions. the central governor will act in accordance with chief executives and governments of the cheap special administrative regions. the government will firmly support them and leading people from all walks of life and focusing on economic development, taking in effect the people's well-being and advancing democracy, as well as inclusiveness, mutual support, and harmony. [inaudible] they not only have the ability but to develop for two reasons. and share with other people in china the glory of being chinese. useful reunification is in the best interest of the chinese nation, including our friends in taiwan. we must come above everything else, ensure peaceful growth between the two sides of the taiwan strait. we must adhere to the prin

plays dragging down the mainland market and also sinopec was a major lagger on speculation that beijing may cut gas prices as early as bomb. so on watch for that. and of course china's leadership position. we're watching to see whether it's more reform minded leaders or conservative minded leaders and that will determine the pace of reforms in the mainland. the nikkei 225 continuing its slump from yesterday. actually this is the seventh day of losses for this index, down 0.2%. a lot of disappointing economic data as well as concerns there could be an reaction by the end of the year. another market that's ignoring some better than expected chinese economic data and choosing to focus more on the u.s. fiscal swords. and i know we spoke yesterday about htc, it was limit up today, limit down just a day after it announced that it reached a settlement over patents with apple. today they're looking into unusual share movement ahead of that announcement. >>> head of the microsoft windows business is leaving less than three weeks after the launch of windows 8. reports say his departure may raise concerns about the success of windows 8 and his relationship with steve balmer. m

i think we see china is basically if you type reverently two folks from the mainland, which he did is we didn't start at scarborough shaw and japanese started at, but as one said the other day, we fixed it. that is i think a rather unfortunate attitude. i think it may be all too accurate a reading of how at least some important people on the mainland look at what's going on. i have nothing to add to what jeff said about the possible involvement of the united states in this. one thing one could say if the attitudes what china is doing are not very positive. so it's not only a matter of alliance engagement, which is real, but a matter of how people think about what it's up to and how it is behaving and could behave into the future. i guess i had a couple of questions or points to make with regard to jonathan. he partly answered one question. big changes in military leadership, the question i ask is so wet. you partially answered that in the rising role of pla air force. i'm not sure the navy necessarily came out all that well in personnel appointments, but clearly they are given a great

china is expected to post strong pmi data from november that could help cement the country's recovery sorry. markets expect mainland manufacturing activity to record its fastest pace of growth in seven months, but they'll have to wait until monday to react. official data at 2:00 a.m. central european time. we won't be covering that one live. but is there a sense in your view that china may be showing better growth prospects here? >> yeah, i mean of course fourth quarter have to be better. all analysts around the globe were expecting lard third quarter which didn't happen, so we all delayed the recovery in china to the fourth quarter. and it's coming, but on the backdrop of of course fiscal and monetary stimulus not as large as it used to be in the previous global recession. but it's there. so it's clearly coming. but i don't think the recovery will be as strong as what we saw in 2010, early 2011. it's going to be weak. so i think we should all get used to china growing around 7.75% even to 2013. >> we'll leave it there. thanks for your time today. >>> now, still to come on the program, the latest gdp figures out of

china is basically, if you talk privately to folks from the mainland, what you get is we did not start it. we fix it. this is a rather unfortunate attitude. it may be pretty all too accurate a reading. i have nothing to add to what he just said about the possible involvement at the united states. attitudes here about what china is doing are not very positive. it is not just a matter of alliance engagement. it is about what time is up to and how it is behaving. i have a couple of questions or points to make with jobs. the big changes and military leadership, just listen to the question. the partially answered this and the rising role of the pla air force. they are clearly being given a greater role. i do think china is seeking to change the status quo. particularly may be will pay a big role in that. why don't i does leave it at that? -- why don't i just leave it at that? ask short questions. do not make statements. >introduce yourself. say who you are once you get the microphone. >> wonderful discussions. i am relieved to hear the love affair with the new york times is not diminished.

i think we see china, chinese basically him if you talk to folks from the mainland, what you get is wetart it, the philippines started at scarborough shoals, and the japanese started it with regard to -- but as one said the other day, we fixed it. and that's i think a rather unfortunate attitude. but i think it may be altered i could a reading of how at least some important people on the mainland look at what's going on. and i think, i have nothing to add to what was said about the possible involvement of the united states in this. i think one thing, one could say is that added to the about what china is doing are not very positive. and so is not only a matter of outlines engagement which is real, but it's a matter of how people think about what china is up to, and how it is behaving and could behave into the future. i guess, i had a couple of questions or points to make with regards to jonathan. he partly answered the one question, the big changes in military leadership, this is the question i was asked, so what? you partially answered the entrance of the rising role of the pla air fo

china inflation data and improving economic indicators failed to inspire the shanghai composite. railway stocks outpurchased. index lost nearly 3% on the week. in hong kong, losses in energy stocks and mainland banks pushed the hang seng lower. it's down over 3% this week. the nikkei fell for the fifth straight day on the back of the worsening consumer sentiment. it's also down more than 3% for the week. yen persistent strength hurt automaker. the aussie market also finished lower after the rba cut its growth forecasts. most miners ended in the red. the sensex lost 0.9%, but united spirits gained on the hopes of a stake sale. back to you, ross. >> 15%, these are the odds the s&p puts that the u.s. will go over the fiscal cliff next year. they still expect a compromise. meanwhile the nonpartisan cbo says tax hikes for the wealthy won't hurt economic growth but warns if america will sg go over the cliff, unemployment will go over 9%. president obama is scheduled to make his first address to the public since his re-election at 1:00 p.m. eastern from the white house and, yes, it is regarding the economy and the deficit. joining us is paul dales from capital economics and sean sullivan a reporter

china. i believe they're moving from total government in a direction of freer markets and capitalism. >> now, those comments you just heard from peter, they really don't reflect what i'm hearing in the chinese mainland. one analyst that i talked to up in beijing says that he's just completely gone out of the market and he's just putting his money elsewhere, and we're hearing that -- i mean, the volumes are very low. we can see that investors are voting with their feet. last thing i want to tell you, and this really puts it in perspective, is that your returns would have been greater had you put your money in greek or spanish stocks than you had the shanghai composite. >> that's a great point. and by the way, when it comes to talking about the shanghai weakness, how much of this reflects the composition of retail versus institutional investors? >> well, that's a good question, kelly, because in chinese mainland, there are so many retail investors. i still remember when i was in beijing and my cab driver asked me what i was doing in the stock market. so everyone, the moms and pops, the cab drivers, everybody is putting their money in the stock market because there's such a lack of investment options i

mainland descraw on each other and pursue common development with the success of the one country two country principal. the underlying goal of the principle and policy developed -- adopted by the central government is to uphold china's sovereignty, security, and development interest and maintain long -- the central government will act in strict corp. dance with the administrative region and firmly support the chief executive and governance of the two special administrative regions. in gofning the two region in accordance with the law, the government will firmly prospective them in leading the people from all walks of life focusing on economic development take effective steps to improve the well being and advancing orderly democracy as well as incliffsness, mutual support and harmony. the central government -- [inaudible] two regions promote exchanges and corporation between them in all fields. convince that our compatriot -- not only have the wiz disom ability and resourcefulness to successfully govern and develop -- [inaudible] they can certainly also play an active role in national affairs, and share with other people a long ethnic group in china the dignity of being chinese -- [applause] with reunification is in