for more than 150 years, hong kong was the destination for refugees from conflicts in mainland china. and when the people's republic of china was founded in 1949, many dissatisfied with the communist party fled here. in this episode of "asia insight", we take a look at how the people of hong kong have continued to seek democracy after the return to a communist country and examine their vision for the future. once one of the four asian tigers, hong kong achieved rapid economic growth in the 1980s under british rule, developing into a major shouldnhub and international financial center. people hugged each other in joy, however, in the 13 years since the return of hong kong had been decided in 1984, around 600,000 people, approximately 10% of hong kong's population, had fled the country, concerned about living under communist rule. beijing promised to allow hong kong to keep its political and social structure and universal sufficient ran suffrage in the future. under china's open-door policy, economically, hong kong was china's gateway to the world. that is why china maintained the princ

>> guest: from mainland china. >> host: when did you become a u.s. citizen? >> guest: 2013. >> host: when did you start to -- the process of becoming a u.s. citizen? >> guest: well, the day after i arrived in the united states, in 1996 as a student, i wanted to stay here, united states. so i come back from that day took me 17 years to jump through all 0 the legal hoops to become a naturalized oceanid. >> host: what are the hoops you lad to john jump through? >> guest: so, first is to maintain legal status. and our immigration law is stacked against the people like mow who doesn't have a family here because our immigration law heavily favor family preference. because i don't leave a family here i need to first maintain my student status, and then find an employer. that's the only way i can become a legal resident here is through employment. so i got a job offer from the citibank and work for several fortune 500 companies to maintain my h1v work visa. and eventually daimler chrysler was waiting to sponsor my work visa because the supply of the visa less than th

yes, mainland china and taiwan as a market for american goods, of course mainland china is much bigger but how did mainland china big as compared to china? as a market for american goods. a lot of my american friends of said it must be 20, 30 times or 50 times. some people it say 100 times. let me tell you, last year we bought $26 billion from united states. mainland china only did 112 billion. so mainland china is a market for american goods is only 4.5 times the size of taiwan, even though that territorial fact is 255 times and population 58 times. that shows how big or how small taiwan is. that kind of strong fundamentals will be continued. now, let me tell you another figure which is also very impressive which is that even though we are ninth or tenth largest trading partner, last year are two-way trade total is 65.4 billion u.s. dollars. but this number is even smaller than our trade surplus with mainland china. our trade surplus with mainland china last year was $66.9 billion. keep in mind you are the largest trading power in the world, and you are trading with 229 countries and

typhoon hato has hit mainland china with hurricane force winds and torrential rain after leaving at leastpeople dead in the region. the maximum category 10 storm is the worst typhoon in the region for five years. australia's deputy prime minister barnabyjoyce and other ministers are fighting a legal battle that's threatening to topple the government. the country's high court is examining a law that bars dual citizens from sitting in parliament. ten minutes of walking at a brisk intensity each day could help prevent cancer, heart disease and poor mental health. that's according to public health england which says its concerned inactivity is growing amongst the middle aged. now it's time for world business report. mountains of questions for the world's central bankers as they gather injackson hole wyoming for their annual meeting. plus, dying with dignity, but at what financial cost? we look at the growing bill for end—of—life care. as part of our week—long series on the business of death. welcome to world business report. i'm jamie robertson. we start in the us mountain resort of jackson h

typhoon hato hits mainland china with hurricane force winds and torrential rain.t's left at least six people dead in macau and hong kong. australia's deputy prime minister barnaby joyce and other government figures battle in court to save their seats in parliament mountains of questions for the world's central bankers as they gather injackson hole wyoming for their annual meeting. plus, dying with dignity — but at what financial cost? we look at the growing bill for end—of—life care, as part of our week long series on the business of death. on a tip—off from spanish police, dutch authorities have ordered the last minute cancellation of a rock concert in the south—western city of rotterdam. the city's mayor said they'd been warned a terror attack was being planned on a gig by an american band. it's believed the incident was not connected to last week's attacks in and around barcelona. this from the bbc‘s tim allman. anna holliganjoins us from the hague. once again, armed police on the streets of a european city. a local music venue cordoned off, people being told t

mainland china is such a big market, and the difference between hong kong and beijing is significant,hanghai. i think when talking about china, this is not the sole market for cathay pacific. southeast asia is a huge market, especially connecting to america. there is a lot of strength in southeast asia, and a lot of asian airlines, especially in mainland china, are having difficulty to extend their network. thay also has a big stake in air china. there has also been talk about merging the three big chinese airlines together. was talkhink there about air china and china but now withining, the allocation of airlines in the second beijing airport, it doesn't look like that will proceed. rishaad: lester, the second half was weaker than the first half. we are getting first-half results today. maybe it could revert to type and we could get a better second half? will: it will be heavily dependent on premium traffic. there has been a lot of weight from foreign-exchange, from yields. and new taxes for outbound traffic in hong kong. rishaad: this is not a company which is done very well in this

. >> 1996 as a student from mainland china. i became a citizen in 2013. >> when did you start that process to become a citizen? . so first is to maintain the legal status and immigration law is stacked against people like me who doesn't have a family because our immigration has to favor family-based immigration. i don't have a family here so i need to maintain my student status and an employer. that is the only way to became a legal resident is through employment. i got a job offer from citibank and worked for several fortune 500 companies. daimlerchrysler, the supply of the visa is not the demand stuck in a space for five years and got married after that, became a us citizen through marriage. >> host: if you haven't gotten married would you still be in the system? >> probably not. by the end of the five you're waiting i ran out of options. you are talking about a hurdle. it is another hurdle. when you don't know how long you can legally stay, i cannot buy a house, the employer has to assume all legal costs and the risk to cont

if you look at max abelson mainland china we had a june record. ppose he's being a bit economical with the truth depending on currencies because sales in greater china actually fell. was the fall slightly less bad than the prior trade? -- trend? the point.basically they are still losing market share and revenue in china with a 10% drop off an overall chinese sales. talk about greater chennai which is the mainland. currency mainland china was flat which kind of reflects the market to the biggest problem is hong kong which is tied to the dollar. there's no currency effect and some of the dollar strengths means there are fewer tourists going to hong kong and buying apple products there. it's indisputable they've been losing market share in china. we will have to see whether the next iphone helps them recover properly. there's a huge chinese appetite for the apple brand historically. vonnie: alex webb, thank you. an official has told bloomberg news president has signed the rush of sanctions request -- russia sanctions request >. bill. this is bloomberg

the social media platform is banned in mainland china, but facebook has made clear its intentions toly controlled market. let's cross over to our asia business hub where we can speak to mariko 0i. what more do we know about this latest move by facebook? it is fascinating. it is called colorful balloons, and the company's brand is not attached to it, the brand facebook. new york times reported this, and facebook has now confirmed this, and facebook has now confirmed this to several media outlets. it says that its focus is to help chinese businesses expand outside china, using their platform. but as you mention, facebook has been very keen to enter the mainland market since it was blocked in 2009. its founder and chief executive mark zuckerberg made a high profile visit with leaders, learning mandarin and making keynote speeches that, as well. facebook is not alone in train to work around china's very tightly controlled internet. google, youtube, instagram, a lot of silicon valley companies which have previously banned have been trained to work around that. it seems like facebook might

typhoon hato hits mainland china with hurricane force winds and torrential rain. of rhino horns in south africa will trigger an increase in poaching.

sophie: checking out mainland markets in china, the csi 200 gaining .1%.esuming gains for day, gaining .5%. check out the currencies base, the aussie following the data, jumping, but now easing gains and looking study. with the stronger fix from the pboc, the onshore rate slightly that mark still below which a broker for the first time since december 2016 overnight. fork out the offshore rate now swinging to gains, set for an 11th straight session higher. the yuan is the best performer against the dollar when it comes 11 forex tracked by bloomberg. after the shanghai composite move through 3300, this benchmark in focus. today, materials and telcos stocks and dragging on that benchmark, while real estate is up .3%. financials not seeing too much movement. we are waiting on chinese banking earnings later today. morgan stanley has been overweight for chinese banks all year. they see more upside for the sector given the improvement in npl's. i want to show you china postal bank. a-shareer planning an sale, trading at the highest level since may. chinese carrie

it counted hong kong, macau and the city in mainland china before sweeping west. entire region in five years. there have been a number of fatalities, at least five people died as a result of the storm in macau and four ian guangdong prominence. there was a question as to whether there was a fatality in guangdong province. a man fell into the sea, however they said it was a suicide case and it was intentional and not directly related to the storm —— in. at least nine people have died and numbers may go up as we get more information from macau and china. let mejust share with you how this story is being covered in newspapers here in hong kong. this is the south china morning post, the main broadsheet english—language publications sold in the city. you can see a photo of the waves on the central harbourfront, lots of water sweeping —— morning. we saw a lot of flooding. this is the apple daily, a big photograph splashed across the top. we saw user generated content of this yesterday, a platform suspended outside which was swaying and hitting a lot of windows windspeed

facebook is banned in mainland china, and has made clear its intentions to crack the tightly controlledsed through a local company. in kenya, it isjust a week after the presidential election. but once again people are being asked to show their support for the government or opposition, this time by deciding whether show up for work or stay home. while the official figures show that raila 0dinga lost the election by 9%, he is calling for people to boycott theirjobs on monday. the government says the authorities will not allow a descent into chaos. from nairobi, alastair leithead reports. all chant: no peace! they believe the election was stolen, and they have taken to the streets. 0pposition presidential candidate raila 0dinga toured his strongholds in the capital, the first time he has appeared in public since losing the election. he urged his supporters not to accept the result. "they knew they would be defeated, and would have to steal," he told the crowd. "that's why they've come to kill innocent people, shoot them, put them in body bags and take them away." dozens have been injured a

they left mainland china during the height of the civil war there. they relocated to taiwan, a small island 90 miles southeast of the mainland. there, my father became the first, well, the youngest sea captain at the age of 29, which was quite a feat. he was in charge of a ship full of men away at sea most of the time. being responsible for multimillion dollar cargo, and he was only 29. and when you are at sea in those days, you had to be self-reliant because there was no other way to seek help if anything happened. so my father is incredibly inspirational, a can-do, independent, very forward thinking and creative person. host: and then turning that into a successful business. elaine: yes. what happened, he became one of the youngest ship captains at the age of 29 and he wanted something more for his family, because he was away for such a long time. so he decided to continue his studies. he took a national examination in taiwan. this is a long-standing chinese tradition where you take a national examination, it is given one day a year. it is actually

according to the new york times, the social media giant which is banned in mainland china has launchedons. it's thought to have been released through a local company without any facebook branding. let's find out more, karishma vaswani, our asia business correspondent is in singapore. they have launched it, no branding so they have launched it, no branding so there is no real connection with facebook, why was facebook banned in the first place? as you know, the social media websites in general in china have been banned because of strict internet censorship rules and the tight control china places on their citizens and what they can access, but there's been no confirmation from about this story. but the new york times and other media reported that facebook said this launch was something they okayed. you know what this is, basically it is a photo sharing website. in china facebook is banned, like many otherforms website. in china facebook is banned, like many other forms of social media, including twitter. this app which is called colourful balloons feels a bit like facebook it doesn't ca

facebook is banned in mainland china and has made clear its intentions to crack the tightly controlledthrough a local company. stay with us on bbc news. still to come. it's 70 years since pakistan's creation. but what do people think of the founding father's vision of the nation, as they celebrate their country's emergence as a sovereign state. the big crowds became bigger as the time of the funeral approached. as the lines of fans became longer, the police prepared for a hugejob of crowd control. idi amin, uganda's brutalformer dictator, has died at the age of 80. he's been buried in saudi arabia, where he lived in exile since being overthrown in 1979. two billion people around the world have seen the last total eclipse of the sun to take place in this millenium. it began itsjourney off the coast of canada, ending three hours later when the sun set over the bay of bengal. this is bbc news. the latest headlines: america's top military chief arrives in south korea as the north says it has a right to have nuclear weapons to defend itself against the us. the white house has rejected criti

coach talked about weakness in impactfulthat will be in mainland china, so there's a lot of push andull market. for some time, the consumer at higher incomes have felt better. at some point, it becomes a rate of change. things.all sorts of there is a shift towards consumers of all incomes, but especially behind looking towards experiences over things and brands need to understand and incorporate that. you're looking at all sorts of layers as to which brands can reengage and greek celery. >> d imagine that we will see -- >> we've had a view that as 2016 would17 that this portion have all the markers of underperformance. i think what we've been trying to say is peak concerns often hit in early december for this company or brand or retailer that can move away from the tragedy and go to one that is protecting one or growing, those are of interest of us and i think we are seeing some good decisions around that. the economic cycle is very different every time. it's very different this time. this funky.here is eriod.ky p some of the comparisons within the economy of retail sales and everyth

typhoon hato hits mainland china with hurricane force winds and torrential rain.t's left at least six people dead in macau and hong kong. there's growing concern that an online auction of rhino horns in south africa will trigger an increase in poaching. in syria, the caliphate declared by the extremist group that calls itself islamic state is crumbling. on the battlefield, it is losing ground, but the battle is being waged one town at a time. in an exclusive report, our chief international correspondent, lyse doucet, is on the front line of that bitter struggle. she's been travelling with president assad's forces, backed by russia and iran, as they re—take more territory, ruled for years by is. this is the man leading the syrian army against islamic state in eastern syria. general mohammed hadour wants to take us to the front line to see their latest successes, vowing, with a soldier's swagger, to ta ke vowing, with a soldier's swagger, to take back all of syria. tens of thousands of men under his command. translation: i am hellbent on victory. we are not scared o

facebook is banned in mainland china, and has made clear its intentions to crack the tightly controlledloons, was released through a local company. justin thomas has won golf‘s final major of the year, the uspga. the 24—year—old's victory put paid to a possible first major title for japan's hideki matsuyama, who had led the tournament going into the final nine holes. but a disappointing run of shots cost him the chance of creating history, as he ended in a tie for fifth place. more onjustin's win coming up in sport today later this hour. let's take you to karachi, where pakistan is celebrating its independence day. 70 years ago, pakistan was founded, when british colonial rule ended and partition split india into two nations. we will have a full report later in the programme on pakistan's independence day. the white house has defended president trump's response to the violence in charlottesville, virginia, after the biggest gathering of white nationalist groups in america for decades. it says he had condemned all extremist groups. a 20—year—old man has now been charged with murder, afte

typhoon hato hits mainland china with hurricane force winds and torrential rain.barnaby joyce and other government figures battle in court to save their seats in parliament mountains of questions for the world's central bankers as they gather injackson hole wyoming for their annual meeting. plus, dying with dignity — but at what financial cost? we look at the growing bill for end—of—life care, as part of our week long series on the business of death.

they are sold to tourists or across the border, to mainland china, but customers who are willing —— unwillingome available there. this does not happen any more. from yesterday you can no longer return or exchange any apple products online in hong kong unless they are defective. the previous policy allowed 1a days for products to be returned in the city. this change in policy is very timely. apple is expected to unveil its new iphone models later this year. it is a hotly anticipated tenth anniversary edition and is supposed to have a completely overhauled look. it isjust supposed to have a completely overhauled look. it is just in time for this. really interesting story as apple gets tough on the touts. there's been a decent rebound in markets over the last couple of days after tensions calmed between north korea and the us. money moving back into some riskier assets but we're still not back to where we were last week, suggesting there's still a lot of caution amongst investors. this evening's minutes from the us fed are likely to give markets a taste of what was discussed at thejuly meeting b

facebook is banned in mainland china and has made clear its intentions to crack the tightly controlled was released through a local company. a day after violence erupted in charlottesville, the virginia state governor is trying to defuse the tension. governor terry mcauliffe denounced the people who attended the "unite the right" rally. it was the biggest gathering of white nationalist groups in america for decades. a 20—year—old man has now been charged with murder after a car was driven into a woman who was part of a counter—demonstration. laura bicker reports from charlottesville. after a violent day of division, charlottesville has come together to pray, to show that this city condemns the hate brought here by neo—nazis and white supremacists. the virginia governor went from row to row, hugging worshippers in this baptist church. he promised to keep politics out of the pulpit, but there was a message he felt he had to give. it is about politics in that the political rhetoric in this country today has breeded bigotry. hundreds of white supremacists gathered in the city for a planned

facebook is banned in mainland china and has made clear its intentions to crack the tightly controlledourful balloons, was released through a local company. we wa nt we want to give you an update on the golf. hideki matsuyama has had his attempt to take the first major disappointed. more come out on that later today. let's take you to karachi where pakistan is celebrating its independence day. 70 years ago pakistan was founded when british colonial rule ended, and partition split india into two nations. we'll have a full report later in the programme on pakistan's independence day. the white house has defended president trump's response to the violence in charlottesville virginia — after the biggest gathering of white nationalist groups in america for decades. it says he had condemned all extremist groups. a 20—year—old man has now been charged with murder after a car was driven into a woman who was part of a demonstration against the far—right rally. laura bicker reports from charlottesville. after a violent day of division, charlottesville has come together to pray, to show that this

we are seeing chinese authorities clamp down on prices in mainland china. g more of those measures? what are your expectations for the market? guy: our expectations are that stability is good. in china they are trying to make the market more stable and that is a good thing. we are not in the residential market in china but focused on the retail market, which is going great for us at the moment. shanghai will be our fifth major investment. that is retail-led. we are extremely excited about how that is going right now. betty: bringing it back to the u.s. market, particularly in miami, how are your properties doing their? mall opened late last year, and so far, so good. we have great anchor tenants sacnd sacks this avenue, -- avenue, and a movie theater. it is a game changer for that city. on the opposite side we are pretty much full. it is a strong office market. condominium sales are slowing down. mainly driven by the strong dollar. sold on the condo side. things are looking good in miami and we are optimistic. incredible after the financial crisis how market

stage and will also possibly prevent the further gravitation of the taiwanese economy to the mainland china think about this that in the 80s taiwan's economy was already bent toward the east which means the united states and with china's opening to the outside world and economic incentive in the '90s and 2000 the taiwanese economy was already engineered toward the west but with the election last year the taiwanese have actually noticed that too much economic dependence on china actually posed security threats. now it is trying to orient itself with the new cell phone policy. i agree that the new stuff on policy has a lot of potential but at the same time, i think, the orientation, re- orientation towards the piece, the united states should not be ruled out. that is why i am making a strategic case for strengthening us taiwan relationship. cut bac[applause] >> we will open it up for questions. >> thank you. this is a quick thing. i don't believe taiwan should limit itself to meeting 90 points in our index and it can go much further, ten points above that. >> for your reference, former commit

hong kong lawmakers visited the site of a high-speed rail line linking the city to mainland china. l run from hong kong to shenzhen and cost almost 11 billion u.s. dollars. it is controversial because of a cold location area -- co- location terminal where china can enforce its laws in hong kong. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. betty: russia and china are again the focus of the trump white house with sanctions in trade on the table. ramy inocencio has more for us. first on those sanctions in president trump expressing big reservations on this. ramy: huge reservations. tied, -- his hands were and are now tied with regards to any russian sanctions. he cannot pull anything back because of this document he signed. he questioned the constitutionality of this. hethe other side of things, said he signed it for national unity. you are seeing a part of his statement saying he favors tough , by a bunch of other aggressors including iran, north korea, pressure. but he says the legislation is flawed. we

best are flatre's in mainland china, but ultimately, he said that they feel really good. ♪ >> president has signed a russia shanks than -- sanctions bill into law. he says that he has many , therns about him, writing bill remains flawed because it encroaches on the executive branch's authority to negotiate. congress could not even negotiate a health care bill after seven years of talking. by limiting us, this bill makes it harder for the united is to make a good deal for the american people. >> really, his complaints are that it is encroaching on executive authority, and the second is that everyone from afghanistan, to that germany and the eu, could be impacted by this downstream of the application of the sanctions. and that the u.s., as a result could be impacted in its ability to work with allies, and to work in a multilateral fashion with allies. the president is making this alsoent, and germany has spoken up. in the longer term, the president is doing two things. he is trying to give a pass to congress to rescinded, and revert to a version of the sanctions legislation that gives the

as you can see, mainland china shares mostly higher for the major sessions all eyes pointing to jacksonole, towards the end of the week where we will hear from janet yellen and mario draghi. somewhat of a holding pattern, but marginally higher for asian markets. checking out europe. yesterday we saw stocks fall across the continent today higher nearly across the board. german stocks are higher by 0.6% leading the charge >>> we have some of the miners doing well, bhp billy ton and some retailers grocery store sales. aldi and lidl up -- >> gaining share >> so they had about 20% almost sales growth year-on-year, a marker for the u.s. names. they're entering the market here, the discount retailers they have about 12% market share, well above the u.s. that's a sign of things to come maybe in the u.s the big four growing for a fifth quarter in a row the market here in the u.s. is five or six years behind the uk model is quite a good one to look at for people studying at what might happen over here >>> broader markets, oil prices, which failed to catch a bit in the way other commodities have s

the iphone on a year-over-year basis in mainland china was essentially flat, similar to the projectionf the market, so they feel that. what do you make of this? >> no matter what tim cook says>>, the most important question for apple right now is how will the next version of the iphone cell in china -- selling china? i don't see a lot of encouraging signs. this was the six quarter in a row that apple had declining revenue in china. the technology market in china has changed markedly since late 2014 when apple got a big lift from iphone 6 sales in china. i don't know what the iphone demand is in china for the next version of the iphone. to me, that is the biggest question hanging over the company. emily: we do look at the rankings all the time. there are local brands that are now surpassing apple in china. >> i think one of the things to 85% at is apple still gets to 90% of the profits in iphone hardware sales. apple is not trying to run the race to the bottom. they want to be the number one smartphone maker in the world, ever. the question is, how well are they doing with china's middl

a further four people were killed in mainland china, according to media there — with winds of more thanhoon battered hong kong, uprooting trees, flooding streets and halting financial trading. a farmer has defended her decision to serve up as dinner the piglets, saved from a barn fire, to thank the firefighters who rescued them. the 18 piglets and two sows survived the fire in wiltshire in february, which saw 60 tonnes of hay catch fire. the firefighters initially said the sausages were fantastic, but have then apologised following complaints. farming is what we do here. it's not an animal sanctuary, you know, we don't keep animals just for the fun of it. we enjoy it having them being here and we are very sorry when they leave the farm and go on. i can appreciate and understand that there are some people who don't keep meat, but there are also people who do eat meat, and farming is our life. —— eat meat. the us powerball has seen 21 rollovers in a row, meaning the prize now stands at 700 million dollars — that's almost 550 million pounds. it's the world's richest lottery, with an averag

add two routes to mainland china.ecent headlines about sexual harassment and hoover and the gender diversity route at google have put such behavior on the front page. google moved swiftly to fire an engineer who questioned women's ability to work in tech. sheryl sandberg said to companies and employees must step up to the plate. day,l news, 24 hours a powered by 2700 journalists and analysts. this is bloomberg. shery: we are seeing trades ease up. two years ago, it was china. so far, we are seeing a mixed picture for equities. hangng lower with the seng. more vulnerable to shocks, given the-- valuations we do see. thers, toshiba, trade after lunch hour. shares up 1.3%. the loss of qualified endorsement from its auditor. an loss, according to some of the analysts as well. emily: i am emily chang. let's return to our exclusive conversation with sheryl sandberg. facebook is competitive, but for with high rewards and benefits employees. in an age where companies already expect so much of their staff, i asked her if there

iphones sales flat in mainland china, but in line with projections and ultimately, he said that theyreally good. ♪ >> president trump has signed a russia sanctions bill into law. however, in a statement, the president says he has many concerns about it, writing the , bill remains flawed, particularly because it encroaches on the executive branch's authority to negotiate. congress could not even negotiate a health care bill after seven years of talking. by limiting the executive flexibility, this bill makes it harder for the united states to strike good deals for the american people. >> really, his complaints are in two categories. one is encroaching on executive authority, and the second is that everyone from afghanistan, to germany and e.u. could be impacted by this sort of downstream in terms of application of the russian sanctions. and that the u.s., as a result, could be impacted in its ability to work with allies and to work on a multilateral fashion -- and to work in a multilateral fashion with allies. the president is making this argument, particularly that germany has also sp

you can see mainland china was flat year on year.d to adjust their expectations of what they can get from mainland china and cook told me he's certainly not adjusting his. on services, that did jump 22% it was 7.3 billion and that was better than expected on that business line, cook saying if you look at services, look at services are up 22% year on year and really a great quarter and we've achieved our goal of being a fortune 100 company earlier than we thought. we've achieved that on a lock back basis we're very proud of that guys, back to you. >> josh, thank you very much. >> i agree certainly, you know, that diversifying is an important thing for this company, especially given that it's one product company the services business looks really great the beats acquisition, i think the jury is still out. it was a nice way for them to enter into streaming services for music. that beat a lot of those deals and that's what gave them that. >> that was huge for them. >> i agree. >> i think they said 3 billion doesn't matter to ample. it wa

he said if you pop open the hood, mainland china was flat.noted has been a drag, but on a sequential basis. he also did that maybe there could be new products coming in the back half of the year. ones we haven't even discussed yet. take a listen. >> we can't wait to deliver all of these powerful innovations in months to come and we might even have some others to share with you later in the year. >> so, maybe sop surprises coming later in the year i want to end on politics because i did ask tim cook directly when i met him, about his comments of president trump. president trump you'll recall told "the wall street journal" that cook told him they would build these three big in the president's words, big manufacturing plants i asked cook is the president correctly describing your plans, cook didn't confirm that he said apple is committed to building jobs and does so already through its development community and of course, that new fund to promote advanced manufacturing. back to you. >> thank you very much, gene has been manning the red phone all

cook telling me, if you look underneath the numbers, which you can't see from the data sheet, mainland chinaar on year in constant currency it was actually up 5% so i'm certainly not adjusting my expectations. guys, back to you. >> josh, thank you >>> apple certainly keeping the dow in the green today right around 22,000 as the other major averages remain under pressure, a pull-back from the record highs. bob dasani is on the floor live watching the action. what are we going to see -- >>. >> reporter: august is lousy for stocks the bulls are hopeful they can compound all the expectations and pull out another monthly advance. the hope here is that any profit-taking in technology after apple's strong numbers will cause weaker sectors to rotate to the forefront. so rotation centers right now around energy and financial stocks can the plan work? maybe. so for oil stocks, the key is to get moving we need oil consistently over $50. so after being stuck in the $42 to $45 range for months, oil is now trading in the $45 to $50 channel. the energy stocks have begun to respond. look at names like chevr

finally, looking at the backdrop of competitors in mainland china.u need to consider the concession -- the discussion. now ande joined right around 11 and you see the shares are overvalued. is especially relative to the performance that they are doing. they are not performing well at all. >> there are quite a few things and they are too big for their own good. they are making money for quite some time. it comes at huge costs and the fundamental thing they need to a number of with flights and aircraft's and that comes with cutting the number of employees. they are getting eaten up by market share in china eastern and southern. they are trying to capitalize on that more. there is the approaching of the carriers. sharesfight for market is a fools fight. if you want to go for market share, and do it. it is very painful. the market shares are secondary. >> right. how about using your affiliates to show you how low-cost carriers outperform the full-service airlines index. withan you use hong kong market passengers. they have a configuration that is pretty

we interviewed him earlier and he told us that the actual excluding currency fx decline in mainland chinat. which affects the market as a whole. is largelyin china flat. the biggest declines were coming in hong kong. there was no currency fx. -- effects. talks about fewer tourists going and buying apple products because of other currency effects and people going into hong kong. this point, no clear explanations for why. it is a bigger market, it is china, it is more important for overall china and apple. it was interesting to hear on the call. he said india looks like china was several years ago. tell us about that. alex: that is something he has said a couple of times in recent courses. india has been investing repeatedly. they have a couple of big apparatus -- operations in maps and they are opening a factory making the iphone. behind of where we asked if he was seeing material impacts, he did not confirm about the case. there is still a long way to go in the indian market. some arems of pricing, talking about the new iphone that will be running roughly about $1000. can they say as a lu

bank of china plans to sell shares on the mainland less than a year after its initial public offeringg. than $5k to issue more billion of shares on the shanghai exchange. -- the biggest since alibaba. they reported a 14% jump to $4 billion. betty: the russian central bank taking control over a depositor that lost a quarter of its deposits. first of a systematically important wonder. it will have a maximum of 20%. the bank of russia says it is preparing emergency measures for other lenders. yvonne: a billionaire suing credit suisse. they allege the bank must have known a former employee forced trade to cover losses from other customers' accounts. they want to force the bank to hand over documents that make unspecified claims. betty: much more ahead in the next hour of "daybreak asia." we continue to watch the markets after north korea's kim jong-il and is saying missile fired -- jong-un saying the missile firing is just a prelude. 8:40 a.m. hong kong time. this is bloomberg. ♪ anchor: 8:00 a.m. in hong kong, live from bloomberg's asian headquarters. yvonne man. all options are on the t

these services business was extremely strong, and the iphone on a year-to-year business on mainland chinally good." from new york, this is bloomberg. ♪ scarlet: it is time now for the bloomberg business flash, a look at some of the biggest business stories in the news right now. general motors sales falling the most in a year, down 15% compared to a year ago. the industry is getting hit after extending credit to people who could not pay loans. the carbon spending is dragging on u.s. growth after years of intervening to its expansion. cosco says the chairman and cofounder of the company has passed away. a statement was put out saying he passed an earlier today. to 75.aged 74 joe: coming up, what you need to know for tomorrow's trading day. this is bloomberg. ♪ scarlet: "what'd you miss?" nasdaq closing at a record high and after the market closed, apple reported guidance was still encouraging. apple shares up. julia: got my apple ready. scarlet: don't miss this. user bank of india announces its decision at 5:00 tomorrow morning. joe: loretta mester and john williams both speaking tomorrow.

how much offshore china you want versus mainland china and em?ry is very compelling. emerging markets generally, there is a valuation case to be made there, and you have had, in places like brazil, south africa, so many upset that hampered investor sentiment over the last couple years, and driven positioning to low levels until recently. the backdrop for emerging markets as a consequence is now actually reasonably positive. you are starting to see the earnings recovery, and it is not such a crowded view yet. manus: no, it is not. the crowds are still huddled in europe. they have taken the boat from america, and perhaps to a certain extent, under-expose themselves to the australasian story. tim: absolutely. and generally speaking, the last 10 years, that is the case. you are going to the safer, developed markets and avoiding emerging. and now we were starting to see the notion that volatilityrket's fx is well under developed markets. these little idiosyncratic risks you see in individual countries does not mean you just blanket -cell emerging mark

in mainland china, we are looking to close our investment in the nuclear power station, we are continuingrenewables portfolio in china and also in india, we will be sure the commissioning our first solar arm and continuing to make investments in their renewable energy sector in india. >> this is the current account balance for the month of june. coming up a little higher than expected and $934.6 billion. thanis now or -- narrower what we saw in the previous month. this is not what the economist were expecting of 860 billion. we were expecting some downside here. it looks like it is overlooking that when it comes to those balance numbers. thatw that 1% gain in month, that could be reflected in these numbers as well. go,ard, before we let you one last question, we talked about renewable energy in india. in china, is that a key focus for you? richard: definitely, it is a big focus for us, power and renewable energy in china is the clean energy sector. we want to do carbon is our portfolio and diversified away from coal gradually and we will be replacing that with nuclear power. >> you still

when you peel back the numbers on china, the headline number was down mainland china flatter in constanturrency terms up, but it's reclearly a big focus, but our view is that can rern to being a growth engine. >> so what -- on the horizon, what could derail the inevitable move that people have been talking about in foif years to a trillion dollars can anyone threaten apple in terms of competitive products? android? what can cause it not to play out like the bulls think >> there's always favorables f variables apple will take a long view and see the pieces pull together we are seeing the phones, the software, ecosystem, hardware. that's not even talking about things we don't know yet whether that's autonomous systems in the future or the ar kit that will be huge. there's a lot of things we don't know about yet again, i'm bullish on apple in the long-term. i think we've ben through this cycle many times before. we see how it's played out >> will, did you raise your price target >> we did. we're at $172. we took that from 160. look, one big question is the stock is at the higher end of its

that would bring the total in mainland china to about 4500. they have a partner in all of that.lp drive the growth. double digits for the next several years. they are loving the idea to make more money. stuart: i like that. we are loving it. nicole, thank you indeed. the pharmacy benefit manager express scripts have outlined a new opioid prescription limit might make it more difficult for people to get their hands on a lot of opioids. what the limit? >> seven days. the data pilot study of this tested it saved a limited with a dramatic drop in opioid use. they are saying they do not want to create addicts. that is what express script is saying. more than 1000 people a day in the u.s. are treated in emergency rooms for abusing opioids. this is an out-of-control crisis. express script is washed in the industry. a middleman between cbs and the government like medicaid and medicare. this is a big, big shot across her opioid abuse in this country. stuart: fascinating story. nevada helps ensure it invalid a lot of the states 28 teen individual insurance exchanges on the affordable care