shenzhen up 1.5%.he previous month it was 6.2 and the previous month before that, it was 7.1 so there is a little bit of a cooling off for shenzhen. shanghai up 1.3%. cooling off from 1.6% in july. beijing staying firm. 1.1% gain. year over year, as i said, shenzhen, 31% year over year. rish: they are a little bit more muted than they were. >> the bottom line here is five interest rate cuts since november. also the easing of mortgage and down payment rules which are fit sbeering the property market and we're seeing a rebound. rish: let's take a look at the companies out there making headlines. none more so than this time last year. it was alibaba. ell, it was a stoc they lost $128 million in market value. we have been tracking this from the start. ou have been looking at it for years. >> it has changed over the past year. if you look at what happened, it is a combination of factors when alibaba did i.p.o. alibaba is the best vehicle to access the kind of growth. now chinese economy has turned wobbley o

we're down 7% for shenzhen. i'm not seeing much reaction to the tops si turfy session we saw in asia. >> that's correct. you might have expected a bit of a correction in line with asia but we haven't got that. we've got .6% of gains for the foo ftse. italy is the lagard. we were up higher than that in the first hour of trade. like half a percent for the likes of germany. we lost a little bit of steam. nonetheless in positive territory. the u.s. dollar softening against the currency at least suggesting that people aren't really expecting that fed rate hike this week. today as you can see not too much movement in the euro, 133 and a little bit further weakness for the dollar against the en, 120.15. let's have a quick look at commodities. oil prices continue to be volatile and today we are down by about 1% for brent. 46.6. >> et cetera -- it's a close call but most economists are expecting the federal reserve to keep the level down. 46% of respondents are expecting a rate hike in september while 9.5% say liftoff wi

eunice yoon has our story tonight from shenzhen, china. >> reporter: from his office in southern chinathis former military officer who would only tell us his code name prince says he heads a 5,000-person team known as the hunker union or red hackers. >> translator: i decided to learn hacking skills after my computer was hacked, he said. after i retired from the army, i thought i could use my skills to continue to serve and love my country. i chose to be a red hacker, to be the personification of justice. china's hackers are a source of friction between washington and bay jik. alleged cyberattacks from china have angered the u.s. which has blocked business deals for chinese companies and is now considering sanctions on those suspected of engaging in commercial cyber theft. the hackers say they work from all over the country but they tend to cluster in hi-tech areas like shenzhen. this city is home to the country's biggest electronics market and it's china's silicon valley. prince denies his group has targeted u.s. companies though he says they have attacked commercial organizations in r

investors are waiting for a link between hong kong and shenzhen.akers at the bank of japan said to be losing confidence in the outlook for growth. saidmonth, governor kuroda the weakness in exports would be temporary and the stimulus is enough. .ut data casts doubt on that let's check in on markets in asia right now. zealand, we are seeing gains of .4%. new zealand the dollar also afterring from a 2% drop friday's job report from the u.s. let's head over to japan. nikkei closed in the green, .4% higher. the volatility was off the chart. it switched direction 15 times. futures in chicago switching to the green, pointing to a higher open. yen, now, we have a weaker 119.41. moreina, officials want a market-driven system, but nerves are frayed, leading to a scattered approach. kwok says the program has worked. >> it has been turning on and off. through the entire year. up at the endteps of the first quarter. , when second quarter there was market correction, that is when things tumbled. people are saying it has not worked, but we actually think it has.

away dozens of carnegie mellon again scientists, leaving one of the world's top robotics to two shenzhensis. mobile analytics are a necessity for companies in silicon valley. one company has carved out a niche providing decision-making data. --y can track everything rum everything from user contracts to sales. in select time you were on the show, you were the first person mentioned in this new york profile about mark andreessen. andreessen horowitz investing the entire round. they think your promises so big. what is the promised -- the promise of mixed panels? our goal is to provide data science to as many industries in the world as possible. wen we raised our round, articulated the problems we wanted to solve. the promise being there are a number of industries that don't do a good job of quantifying information being data-driven. we think we can apply analytics to product, marketing, sales and finance. of the main things you track is engagement. i was speaking about how well some of these companies are doing. are they seeing strong engagement? the funny thing about that is they are a cu

defense,k in their foreigners have no way to access the shenzhen market.ames were always kept trading. so they knew there was no foreign value investor coming in to keep the market from completely collapsing due to the extensive use of margins. they did prop it up. now they're letting that market go, and it could shoot to the downside for valuations. the large companies are getting down to one standard deviation away from the average. that is a fantastic buy signal to any market from a valuation perspective. they seem to be tracking each other quite closely. what is leading what? >> within china, you've had a slowing within the traditional sectors of the market. financials, basically materials, industrials are clearly slowing due to the exports where they have been adversely affected by the strong renminbi. the traditional parts of the economy are growing, at the same time were seeing strong retail sales within china. retail sales is up 10.6% in june. up 10.5% in june. where you invest in china is very important right now. if you focus to the old sectors o

interestingly, the french papers shenzhene big theme is . whole point of the schengen of goodshe freedom through the schengen zone. that is certain to show limits. the migrant crisis has shattered the schengen zone. this is a system that needs to be rethought. probe european paper -- pro-european paper says it is important to save the schengen zone. saying after all, it is a fundamental part of the european project. there will be emergency measures to restrict freedom of movement, but saying that these should be emergency members -- emergency measures, temporary. the european union is coming under fire for failing to come up with a common policy. flo: that is right. there is a cartoon would out today that sums up the situation. you can see a european technocrat coming out of the meeting and addressing this wave of migrants saying, can you just give us a second question mark we are trying to hold a meeting to figure out what to do. also, this is a saudi paper. the european union is being completely torn apart by -- at the seams. it seems this

shenzhen is down almost 10%. bigger blue chips on the shanghai.nd this is not a surprise because the government has made it clear that they're encouraging people to buy blue chip stocks. somebody was asking me yesterday, how much money do you think the government has lost buying the stock market. i don't know. we don't know. we could take a stab at it. there was an estimate at the end of the july that the government had spent $200 billion. if we assume the shanghai is a proxy for the blue chips they had been buying, look at the numbers. the shanghai index or the median price was between 3500 and 40 4,000. today it's at 3160. that's a decline of 16 %. if we assume the government is in line with the figures, the loss is about $32 billion. i don't know if the government considers that a good deal or not and the market has been down notably in the last week and a half and the government is still buying. no not including any estimates there. no not clear if the government considers that a good investment or not. we were talking a little bit about what

away dozens of carnegie mellon again scientists, leaving one of the world's top robotics to two shenzhensis. mobile analytics are a necessity for companies in silicon valley. -- top robotics industries in reported crisis. mobile analytics are a necessity for companies in silicon valley. one company has carved out a niche providing decision-making data. their tools tried everything from user engagement to sales. since the last time you were on the show, you are the first person mentioned in this big new yorker profile about mark andreessen. ultimately andreessen horowitz , investing the entire round. $865 million valuation because they think your promise is so big. the promise of mixed panels? guest: i think the first step for us is -- our goal is to provide data science to as many industries in the world as possible. when we raised our round, we also released our page 10. we articulated the problems we wanted to solve. the promise being there are a number of industries that don't do a good job of quantifying information being data-driven. we think we can apply analytics to product, marke

take a look at shanghai and shenzhen, shanghai declining more than the shenzhen overnight. i think importantly, there's some modest knock off effects on the market. not as much as you would expect. they're not down that much. vietnam was only down fractionally. thailand down. china is doing an interesting doing. four regulatory agencies issued a joint statement encouraging companies to do things to shore up their shares. they want them to buy back more shares and there's talk about them providing more tax breaks for the government to buy back more shares. they want them to do more mergers and they're encouraging state-owned banks to provide loans to do mergers and acquisitions and they want more restructurings. there is report the government is not buying stocks in the market. nobody particularly believes that. and there's good reason not to believe it. but now arrests are being made. lots of e-mail flying about these supposed arrests of the head of man groove, one of the biggest hedge funds in the world in china. we're having trouble confirming it. the point is, invest or

year today, i want to mention that shenzhen, i think we 530,ed out at 1200, 12 back down to about 17.tnam, we are talking about this yesterday. you take the average of what strategists are penciling in, they see this as 642 is the average. south korea is flat. we will have a look at, within the equity space of best and worst places to have health care. that is typical. -- theensive sector rest, every single one, with the exception of health care trading load -- lower. i.t., a big part of why we had the decline in the top 30, that is because of this, every single commodity is down. that says it all. currencies -- yvonne: you are going to type about southeast asia? yes, for different reasons. it was a flight to safety into the u.s. dollar, the yen. and that means, we talked about the yen that shows you how much damage has been elsewhere. we are talking about the indonesian currency, declines for those. i want to mention for the rin ggit, you see those credit default swaps in asia. 1990e: first quarter since seven. thank you for the wrap up. not a good outlook. .ut good things will get b

when you look at mainland at stocks themselves, you can look at the shenzhen, the shanghai, large-capmall cap, there are divergences all over the place. the key difference between mainland and hong kong is the multiple -- it is still quite wide if you take the forward pe on the shanghai composite, we are talking somewhere around 13 times. in hong kong you can look at the index, you're talking around 10 or below. there is still a split. h.: a share versus this is an issue where you have dual listed stocks trading north and south. it is still one of the biggest split that you could possibly find in global markets. angie: where does that spread stand? tim: there are a couple ways to look at this, one popular index, the a h premium index, right now that is trading at about the level of 140. that indicates a 40% premium, but if you look at the average premium of the 80 stocks that are dual listed, it is right now at 115%. if you think about this from a valuation perspective, you're forward pe a share on a medium basis four times. , four times. take your pick. this goes back to the confusio

he's also the former manager of the shanghai and shenzhen stock markets.y is close to the action. rishaad: this is a big deal. >> it's a big deal. he's being investigated for severe violations, a euphemism often used for economic crimes, whether it is insider trading or facilitating insider trading or what. we've had some other regulator officials being investigated. we had those citic officials as well. the president, not indicted, but investigated for alleged insider trading. we had that journalist for rumormongering. we have malicious shortselling. hedge fund operators being called in to the investigated. rishaad: what's the signal here? the market intervention can take many different guises. not just going in there and spending cash, but releasing funds, that sort of thing. >> ordering state owned enterprises to buy their own shares or by other shares to prop up the market. there seems to have been various support levels. what that's creating is, traders say, the market is trending down. we can see intraday over the last five days, we can see where som

shenzhen down 5%. shanghai down 7% for the year. the shenzhen up about 10%.hat's not far away from going negative. in the u.s., i was intrigued by the alcoa and ford announcement. they have new technology, alcoa does, for building cars and trucks. the huge ford f 150 will have aluminum parts from alcoa manufactured in a new way. it makes coils of improved aluminum in 20 minutes versus the 20 days it used to do. so they are moving towards roll products like this. claus kleinfeld very excited. he said new car parts out of aluminum are now possible that were never possible before. you can see alcoa, down 40% this year. hopefully this will turn around alcoa's fortunes. i have been asked a lot, sirwhy isn't the vix higher? the important thing about the vix, it was spiked over 50 a while ago. 23 is still high compared to where it used to be at 13 or 14. it's true. right now at 23 the vix is applying a roughly 2% move potential this week. that's not a lot given the volatility. you can see out into the future, they are not expecting much volatility out past the fed m

i'm going to look at berkshire hathaway and say that is not controlled by the shenzhen. what happens tonight in beijing, i bet it's not going to impact nebraska. it's a bear market, okay? get used to that. maybe it gets better. maybe it doesn't. we don't know when a bottom is going to come in. we didn't know when we bot otom last time. get your draft sheets out. there are plenty of bargains on the field in this market. i'll tell you which companies barring injuries, acls all over the place. then i've got a message for the fed you are not going to want to miss. zoe's kitchen up 130% since the ipo. recent quarter? i don't know. will it sizzle? let's check it out. my take on what's next for the company. stick with cramer. >> coming up -- with the price point hitting all over the charts lately, oil has been one of the hottest topics on the market. cramer's doing a deep dive into the commodity. taking to the technicals to find out where it's headed next. it now the time for you to get in the game and score green with black gold? stick around. >>> europe's down more than 2.5%.

the shenzhen composite index rose more than 3%. that is its second gain in a row. indicate u.s. stocks will open higher. s&p 500 closed that more than 2% yesterday. europe is being told it is time to act, and governments must take in 160,000 refugees from northern africa and the middle east. european commission president jean-claude juncker urge to the continent to share the burden. he spoke to the european union in france. >> all of us should remember that europe is a continent where nearly everyone has at one time been a refugee. our common history is marked by millions of europeans fleeing from religious, political persecution, from oppression. ramy: he did not use the word quotas, but he said it must be compulsory. there has been a shakeup at united airlines. ceo just my sick and two other officials are out. it has to do with a federal investigation into ties with the port of new york and new jersey restart aited money-losing flight to the chairman's home in south carolina in exchange for political favors. its, apple will unveil latest iphone today in san francisco. the devi

the shenzhen composite was down more than 6%. germany is going to slow up the influx of refugees, at least for now. the government is reposing border controls. they a sign to europe that need more help. >> at this moment, germany is introducing temporary border checks again at the internal frontiers. the focus in the first instance will be at the border with austria. the aim of this measure is to limit the current influx to germany and come back to an ordered proceeding of the entry again. this is necessary for safety reasons. brendan: european officials meet in brussels on the refugee crisis to discuss the plan of introducing styling seekers to your europe. fast-moving firefighters in california have killed one person and destroyed several homes and businesses. at least 81 homes were destroyed in a separate fire near sacramento. surging toers is double-digit leads over hillary clinton in both early voting states iowa and new hampshire. a new bc -- a new cbs poll shows him 10 points ahead of mrs. clinton. he has a 22 percentage p

shanghai shenzhen is back online at the bottom of the hour. hong kong also entering the fray. singapore just started it session this week. >> good morning. it is all about china today. mainland markets coming back after a two-day holiday. i had of that, we are seeing or downward pressure on stocks across the region. asian stocks now heading to its lowest lows since 2012. after they sell for a seventh consecutive week. they are following u.s. that's lowered. point, investors will be reacting to today the august jobs numbers. seeing dowwe are gaining at there moment. japaneseeing in asia, stocks are calling for the second consecutive day. vortex of 1%, the lowest since february. now even with the japanese yen weakening slightly after two weeks of gains. we are also seeing declines in the afx to hundred. they are being led by energy stocks. the aussie dollar is gaining slightly after a month of losses. u.s. currently under 70 cents. it is moving in lockstep with china's tumbling market underlying australia's dependence on the chinese market. weekend, china work to soothe concerns

you are raising the point people forget -- there is the shanghai market, the shenzhen market, the hongrket. if it is the mainland stocks most impacted, why not take a breather in tyler from the mainland and trade -- in the and stay in hong kong? chris: it makes sense. hong kong has a substantially different level of risk. it is a good point. it is part of what we are doing. particular in in hong kong you would point to as chief? chris: we generally look at the markets overall. we are not stock pickers. i would not be the perfect guy to be calling stocks. it is more macro-level. erik: very quickly, chris, do you expect the chinese to devalue the yuan more aggressively, and you expect an interest rate cut in china? chris: we have seen five since november and i expect there is more. the devaluation of the yuan could continue. a lot of people are thinking 10 to 15%, and that will happen. erik: chris maguire, thank you. let's bring you up-to-date on futures. i just want everyone to know what is going on. things have been moving so quickly. right now, relatively stable. s&p 500 futures contr

brendan: how has august's collapse in shanghai and shenzhen affected the tone of this meeting? i would imagine it has affected the tone quite a lot because china matters a great deal to russia these days. take the move in the you want. -- take the move in the yuan. china's slowing economy, moscow is oil's biggest export. it will be a conversation topic between the two leaders. tom: i am really taken aback by who will attend the festivities in beijing. the leadership of russia, of venezuela, of south sudan -- it is a laundry list of interesting characters. why isn't vietnam or malaysia or indonesia there? just set up who will be at this parade. enda: like you say, it is more a question of who will not be there. japan also will not be there. it is an unprecedented commemoration by china in its scale and size. as you say, the global leaders have chosen it because of china asserting its territorial claims around the world. in the south china sea and the east china sea. the anon, you mentioned. when -- vietnam, you mentioned. brendan: kate moore is with us from j.p. morgan and has a

big rally in shenzhen, nikkei was under a bit of pressure. a down grad over japan at sap sap.apan lagging a bit. if you look at emerging market countries, all doing well on the backs of the big move up in china the fxi, the hong kong-based big cap chinese stocks. brazil is up nicely. the eem, the largest of the emerging markets etfs up about 2%. europe is at the high end of trading for the month. germany, france, that's the ftse 100, the uk. all trading towards the high end. up nicely today. you can call it, if you want. the fed stock rally. i talked about this yesterday. traders felt a good part of yesterday's move up was traders front running the fed. we have known for years that markets tend to rise in the 24 hours before the federal reserve announcement, fomc meeting. there are eight on the year. 2013, a paper was published by some fed officials that quantified this overall effect. so the s&p 500 is up an average of 0.49% in the 24 hours before an fomc announcement. this was a huge piece of news on the trading desk. this is the most important point they came to. this accou