. >> well, this was the worst start ever to the trading year on the shanghai and shenzhen stock markets, the blue chip index which measures the performance of china's top 300 companies. a new system was being used on monday which was supposed to contain market volatility. so when the markets fell by 5%, trading was temporarily halted by 15 minutes. trading resumed, but then the index fell by 7%. it seems that a system that was brought in to try to calm things down actually had the reverse affect. why is the market down? a number of factors. data shows that manufacturing output had contracted for the tenth consecutive month. also china's currency is continuing to weaken, and there is another important reason. a lot of what china is produc ing simply isn't being bought by the rest of the world. demand is slipping because the economies elsewhere in the world are also slowing. why are they slowing? because china's economy is slowing. it is a vicious circle, and then in the middle of all of this, china is carrying out a vast experiment with its economy right now. it's trying to shift away fr

and in december a landslide killed 69 people at a industrial park in shenzhen. eight others are still missing. >> translator: the government must respond to the accident. it wasn't a natural disaster but a manmade disaster. >> reporter: it's believed the common link between all of those incidents is lax safety management and rampant corruption in regional governments is the cause of that says this man, expert in chinese policy. >> translator: officials responsible for ensuring safety are instead often found colluding with industry. as in the recent case, turning a blind eye on shoddy construction or allowing them to leave dangerous piles of waste soil unattended. vested interests are often involved. >> reporter: corruption and lax safety are not the only thing angering citizens. the government's response to the landslide is also upsetting people. waste soil removed from the collapsed site is being dumped on farms. in some places it stands almost five meters tall. farmers' vegetables are buried below it. >> translator: i've lost my land. 20 years of my hard work

so basically all they managed today was 15 minutes of trading on the indexes in shanghai and shenzhen. now, what caused the market to continue its fall today, well, it's the continuing concerns over china's currency which is weakening and that points for the fact that china's economy is continuing to weaken. there is not the economic growth that investors feel is needed for confidence to return to the market. also we had a man who heads the country's securities commission placed under investigation for fraud and insider dealing. returning to those circuit breakers, these mechanisms are there to try to instill calm. what appears to be happening is this, it is having the reverse effect. once they start falling by 2 or 3%, there is a rush, a stampede of selling orders before people try and get out before the circuit breakers kick in. i think financial regulators here, those who regulate the stock market, will want to, perhaps, reassess whether this system is actually working for them, whether it is actually, in april sense, making things would worse >>> kicking in also on friday is a ban

the shanghai, shenzhen and hong kong markets were down. monday, shanghai closed down around 7%, and shenzhen more than 8% and hong kong 3%. the reason for the continuing jitters in the market i think is pro bowl this. on friday, restrictions over the selling of shares are do to end. these restrictions were imposed during the market tu turbulencet the summer. if these restrictions were eased, it would bring stocks down further. the chinese regulatory commission on tuesday issued a statement saying they would take action to stop big shareholders selling their shares in big blue think companies. these companies want to sell shares because they have no faith in their companies at the moment so trying to flog them off to individual investors but the government wants to protect small investors. we've seen plenty of evidence on tuesday of government intervention in the market. they've been buying up shares in blue chip companies, but the day to watch this week is going to be friday. >>> why are worries growing about the economy in china? after ra

that is why the shares end shenzhen are suspended now. a complex restructuring, could be a prolonged share suspension. rishaad: this has so many moving parts. bit confusing. there is a lot of speculation e is the share sale of vank intended to dilute ownership. we will not make it more costly. in?aad: where does this fit is it an ally? is it a takeover attempt? , alsoind the scenes increasing its stake up to 7% while this other hostile bid was going on. initial reaction is they were joining forces. actually, no. that anbang is an ally. ng is the insurance company that bought the waldorf-astoria hotel, other insurance assets in china and the rest of the world. they have a lot of cash. property companies are cash intensive. it makes sense. rishaad: thank you for making sense of that. >> i hope i did. let's quickly check on other stories. china, postingn its first annual sales drop since 2007. that chairman says he expects demand in china to remain weak, down to the sluggish economic picture for 2016. one of the country's biggest offering of

it just happened the way it we're hearing about it is there are no safety thousand factories in shenzhen china alone and they're which is why things like this are happening and the lithium ion battery was overcharge or it was pierced. i'm not calling fake on tned up in a couple of news stories and this guy is saying no, no, no. it just blew. i'm not trying to be famous for it. >> it's story time and 3-year-old josie has got the floor. >> are you ready? -- [ indiscernible ] >> i can relate to expletives. >> that's pretty vocabulary is on point here, but it's the context that she's having a bit of a problem with. >> back up, back up. you bit andrew, but it was an accident and on purpose? >> got that much. let's get to the bottom of that. notice and i just did that, andn look at the tv and i was already over it. >> she's mastered dropping the bomb and redirect because she knew biting somebody, that's not good so let's talk about something else. >> it because you don't even like miles. >> i lost you like six minutes ago. >> she rolls her eyes and her head back. >> i love that, too. thel you'

the shenzhen market plunged 8%. this triggered circuit breakers designed to give investors a chance to calm down. it sowed more concern. investors are nervous. china has issued new regulations limiting the number of shares traders can sell every quarter. every one of the restrictions sows more unease. two separate reports that the chinese economy is slowing down and china guided its currency lower. european markets lower amid chinese conversation and that fear is spreading to europe. paris down 3%. frankfurt down 3%. futures in the u.s. pointing to a brutal open coming off a big selloff. the dow plunged 252 points. the dow's worst start to the trading year since 2008. nasdaq and s&p 500 down more than 1%. 2008 was a very bad time in global markets. north korea's hydrogen bomb is adding to the fears over the look at oil. crude oil just above $32 a barrel. chinese market jitters expected to ripple around the world again today. cnn's matt rivers live in beijing with the latest. matt, i hear again and again, everything

shenzhen down 0.2%. certainly things a lot more stable than they were this time yesterday. on monday this automatic shutdown mechanism which was supposed to contain the sort of market turmoil in summer came into operation, in fact it was activated on the very first day it came into effect. this was because trading in the morning was pretty bad. the index dropped by 5%. that meant that the stock market in shanghai and shenzhen had to close temporarily for 50 minutes. the markets then reopened and the index fell by another 7%. the circuit breaker mechanism kicked in shutting down the market for the rest of the day. as you rightly point out antonio, the market was responding to that data showing the 10th consecutive month of contraction in china's output. that tells us that the world is buying less of what china produce he and one of the reasons for that of course is that many of the economies in which china is reliant, europe and brazil are itself having economies that are slowing at the moment. why are they slowing, china is slowing. it is in many ways antonio a vicious circ

on the shanghai and shenzhen exchange are the highest in the world. the median is 55.ouble or triple most other exchanges. it is like internet double level. .- internet bubble level they are trading the average company like it was facebook. they are not all future alibaba s. you cannot say we are tech company. we were a restaurant chain, now we arotech company, and the stock goes up. david: and they are renaming themselves to sound more techie. the market has been manipulated very successfully. upfound one ipo that went .200% in two months a few months later they said we are restructuring. we will halt trading. in china, companies can suspend trading in their own stock if they say there is news pending. they can suspend it indefinitely. of this week's etc. section. carol: the first feature of sundance was unveiled 20 years director. if you haven't heard of her, it is because of the dynamics in hollywood. ♪ david: the theme of the economic forum in davos, switzerland is economich revolution. we're joined to tell us why some economists think it could cause economic harm.

shenzhen market down 8%. the rapid selloff. so much selling so quickly, they shut the market down triggering the circuit breakers designed to give investors a chance to calm down. this is the second time this week trading has halted in china. trying to calm investors trying to issue new regulations. china will limit the shares traders can sell every quarter. what is behind the selloff? two reports this week that china's economy is slowing down and china guiding the value of the currency lower. europe markets are slower. you probably have zero expose tour the chinese stock market. the chinese economy you do. so do european companies. this worry about a slowing chinese economy is worrying in paris and frankfurt and dow futures. the dow plunged 252 points yesterday. that is 1.5%. this is the worst start to the trading year since 2008. nasdaq and s&p had a tough day yesterday. north korea's reported hydrogen bomb test setoff selling yesterday. as well as plunging oil prices. a barrel of crude oil is above $32 a barrel. i have to te

. >> this is the worse start ever on the trading year on the shanghai and shenzhen trading markets. a new system was being used on monday, which was supposed to contain market volatility. so when the markets fell by 5%, trading was temporarily halted for 15 minutes. trading then resumed and the index then fell by more than 7%. so it seems that a system that was brought in to try ocalm things down actually had the reverse effect. why is the market down? a number of factors. data on monday showed that manufacturing output had contracted for the 10th conditioconsecutive month. also, china's currency is continuing to contract. demand is slipping, because economies in the rest of the world are slowing. why are they slowing? because china's economy is slowing. it is a vicious circle. and in the middle of this china is carrying out a vast experiment. it is trying the shift from heavy industries to a economy that is service-led. monday's performance on the shanghai and shenzhen stock markets was a reminder why. >> in the last few minutes financial markets in the united states also closed af

the shanghai and shenzhen indices saw even bigger falls. suspended from trading. the market shutdown was triggered by the csi 300 index falling by more than 7%. that operates the new circuit breaker of the exchange, a major put in place after a crash that stopped trading. josh vardey has more details. 7% ofstocks slumped past the csi shared 300 index. it halted trading for the rest of the day. two separate reports show that china's manufacturing industries continue to shrink. about -- were nervous that, along with the circuit breaker system that was brought in following last year's market meltdown, which at one point saw the shanghai stock exchange lose 45% of its value. trading is suspended for 15 minutes after a drop of more than 5%. at the 7% benchmark, trading is halted for the rest of the day. the idea is to stabilize the market, but some say it could increase pressure to sell. >> circuit breakers will not change the supply and demand of the market. the new mechanism will not change overall trading trends. josh: china is not the only country to use such circu

you see the shenzhen composite down 6.6%.f by 5.25%. >>> in the united states you'll see that at least at this point futures are standing pat even with all of those losses that we saw in china. however, watching oil, watching what's been happening with the dollar, this could be one to pay attention to today. >> okay. we have other stories that we're watching this morning. macy's coming under more pressure from an activist. "the wall street journal"

several arrests have been made in china over last month's deadly landslide in the southern city of shenzhen. 12 people died and 62 remain missing and are presumed dead after a mountain of construction waste that had been piled up against a hill and collapsed during heavy rain. entire buildings. prosecutors say 11 people have been charged with negligence. they urged police to track down additional suspects. china -- the french journalist expelled from the country has arrived in paris. veteran correspondent ursula gauthier published an article describing beijing -- criticizing beijing treatment of minorities. some were able to do fantastic things -- to work, to go and see people, to go to different places. gauthierat was ursula speaking to "france 24." that is it for this edition. we will leave you with a look at the tragic events in paris. the capital was shaking, but the french spirit remains strong. shaken, butal was the french spirit remains strong. [music plays] [singing] >> welcome. ais is a resident -- renovation project. this marks is 500 years since the king came to the throne, also

it's made in over 1,000 different factories in shenzhen, china, alone. there's no control standards. they're just getting sent out which is why these are happen pchg the lithium ion was overcharged. or it was pierced. honestly, i'm not calling fake on this. it's turned up in a couple of news stories. it just blew. i'm not trying to be famous for it. >>> this is a fisherman. as you can see, he's got a chainsaw and is digging into the ice. >> that is a seal. and somebody called him and said, hey, there's a seal out on the use and it's been there for several days. see if you can go out there and do something. he and his wife went out there to see if they could help this seal. he had a chainsaw with him. he cut a hole in the ice. >> an ice rescue in reverse? >> never seen one like this. >> they says this poor thing would have died if nobody had come to help it. >> he and his wife see these kind of seals all the time but not this time of year. he says the seal figured out, this dude is here to help me. the seal goes up to the water and takes a long, long drin

valuations on the shanghai shenzhen exchanges are the highest in the world.t a medium about 55, it is like double or triple other exchanges around the world. this is like internet double -- internet bubble levels. they are treating the average company like it was facebook or with google. they are definitely not all future alibabas. says we are just a tech company, we were a restaurant chain and now we are text complete. and then the stock goes up. david: some people are naming their stocks to sound more techier than they are. >> that's right, the market has been manipulated very successfully. we found one ipo that went up 4200% in two months and then just a few months later said, we are restructuring, we are going to halt trading. as in china, companies have the ability to suspend trading in their own stock, if they say there is some news pending. a could suspended indefinitely. totallyhat could haven't read think >> for clearing this up for us. thank you so much for clearing this up for us. >> thank you for having me. carol: and coming up, we will have the r

that's further undermining investor confidence leaving stock markets in shanghai and shenzhen under 6%. >> malaysia's prime minister has been cleared of wrongdoing in a long running corruption scandal. $160million was transferred to the president's private account in 2013. but he said it was a personal donation from the saudi royal family and most of it was later returned. $60million we mains unaccounted for--remains unaccounted for. we have more now from kuala lumpur. >> various media outlets here in malaysia have been speculating as to what the conclusion of the attorney general's report would be into his investigation over allegations of corruption made against the prime minister. well, those allegations have been put to one side by his statement at a press conference on tuesday saying that the prime minister had done no wrong and that there were no--no reasons for anyone to think that the prime minister had done anything corrupt, and that the donation of over $600 million were--was made by sources within the saudi royal family. but the actual scenario now leads to as many questions

but it's going to be a painful transition, and monday's performance on the shanghai and shenzhen stockarkets was a reminder why. >> well, now let's take a closer look on the impact of u.s. markets as they open for the first trading day of the year. and stocks followed a similar trajectory to china and europe. the dow jones industrial sank 300 points, that's about 2%. that's expected to be compounded by new data showing weakness in u.s. manufacturing. >>> pro-democracicy leaders in hong kong are urging the government to investigate the latest disappearance of a book publisher, the fifth employee from the same company to go missing. the publisher specializes in political books which are banned in mainland china. hong kong's leader said there is no indication so far that chinese agents are involved in the disappearances, and authorities there have no jurisdiction over hong kong. >>> well, still ahead on the program, on the move. the syrian refugees bracing themselves for harsh winter conditions. plus, america's debatable gun control is about to go reinignited once again. >> another remind

symbolism of it all because the day was the first day of trading on the stock markets in shanghai and shenzhen and this was going to be the day to show whether this mechanism was working. it woulds certainly working but for all the wrong reasons. what is wrong with the economy now? manufacturing output is continuing to slow for the 10th consecutive month. manufacturing is continuing to contract. also china's currency is continuing to weaken and, of course, there are concerns about what is happening in the middle east right now in terms of those deepening tensions between saudi arabia and iran. also let us not forget this economy is burdened by two very big problems right now. local government debt and also currency flight. billions of dollars are leaving this country every day because people with the money simply have no faith in the stock market, as we've seen today, and they have no faith in the property market. in china those are basically the only places you can stick your money >>> so at the moment this is a response, then, to some rather negative economic data, but overall the signs don'

you see the shenzhen composite down 6.6%. shanghai composite off by 5.25%. >>> in the united states you'll see that at least at this point futures are standing pat even with all of those losses that we saw in china. however, watching oil, watching what's been happening with the dollar, this could be one to pay attention to today. >> okay. we have other stories that we're watching this morning. macy's coming under more pressure from an activist. "the wall street journal" saying starboard is urging them to strike a real estate deal. in a letter to management starboard suggesting that two separate ventures, one for macy's landmark properties, harold square, and a second one formal locations should be made. starboard owns 1% share in macy's. they say it could create meaningful and lasting value for them. also, of course, others have tried this real estate maneuver before. bill akman tried this with target. we'll see where this ends up. they think macy's stock could trade as high as $70. shares trading at $35.87. >>> t"the wall st

the shaning high, shenzhen were all down but it wasn't as bad as it was on monday when shanghai around 7%. the reason for the jiters in the market was on friday restrictions over the selling of shares are due to end. these restrictions were imposed during the market turbulence in the summer. it will mean a lot of cheap stock on the market bringing prices down still further. because of that the china security regulatory commission on tuesday issued a statement saying that they would take action to stop big shareholders selling their shares in blue chip companies. let's be clear. one of the reasons why some of these companies want to sell their shares is they simply have no nath in their companies at the moment, so they're trying-- faith in their companies at the moment so they're trying to flog them off to investors. we saw plenty evidence on tuesday of government intervention in the market. they have been buying up shares in blue chip companies, but the day to watch this week is going to be friday >>> there are reports of an explosion in the eastern afghan city. the blast happened clos

shenzhen officials are pushing all businesses in the city to do more. they opened an emissions exchange market two years ago. when a company's emissions exceed the city's target, it has to purchase another firm's unused quota. huawei's managers are turning this scheme to their advantage. they've kept their emissions below the quota and plan to sell what's left over. >> we've been promoting energy efficiency in all areas from production to distribution. i think china's emissions exchange markets are moving in a positive direction. >> reporter: but venture to northeastern china and it's clear more needs to be done. people in cities like shenyung are choking on dirty air caused in part by burning coal. this firm supplies heat to 1,000 of shenyung's households. the workers here know coal pollutes the air. natural s is cleaner but, they say, it's too expensive. >> translator: coal is cheap this year. we can't make the switch in a day or two. >> reporter: other small business owners rely on fuels like charcoal. they can't afford to adopt greener energy source

12 local government officials over the landslide that left 69 people dead in the southern city of shenzhen last month. it's the first time any officials have faced criminal offenses in the case. china state-run xinhua news agency says prosecutors detained them on charges of neglect of duty and abuse of power. it was late december when a wave of dirt and construction debris engulfed buildings in an industrial park. eight people are still listed as missing. china's government calls the case a manmade disaster caused by lax safety management. prosecutors have been investigating more than 30 people. xinhua said officials of the management firm of a nearby dump site and local government officials will also be questioned on suspicion of bribery. >>> taiwan is facing some political instability following last weekend's presidential election. after losing the election to tsai ing-wen and her opposition camp, cabinet members of the outgoing nationalist party have announced they will all resign. the resignation was announced monday by premier mao chi-kuo outgoing president ma ying-jeou has the author

in this is in this this is not what the shenzhen zone was meant to look like. in amsterdam european ministers held talks again on how to manage the flow of refugees and migrants. some governments increasingly frustrated with greece, which they say has failed to control its borders with turkey, are now talking openly of suspending it from the schengen zone. >> translation: if the border will move towards central europe. greece must strengthen its resources as soon as possible and accept help. >> reporter: the greeks say they've carried an unfair burden on behalf of the rest of europe. it is a blame game being played across a fractured area. all the while refugees keep on coming. these people mainly syrians and afghans are being processed in austria before crossing into germany, all ages, automatic hoping to start a new life far from where they were born. finally, on a dark cold winter's night, they arrive in southern germany, the last country they hope in their long journey. the german authorities say that between two and 3,000 refugees and migrants are arriving

valuations on the shanghai and shenzhen exchange is the highes in the world. ratio, the median is about 55. double or triple most other exchanges around the world. this is like internet bubble levels. carol: kit is like netflix or amazon. if you look at the u.s. valuations of well-established companies, that is what it's like. treating thee average company like facebook or google. they are deathly not all future alibaba's. you have a lot of penny stocks, companies that said now we are a tech company. we were a restaurant chain, now we are a tech company. stock goes up. carol -- david: you point out that companies are renaming themselves to be more techie than they already are. zeke: i do want to pretend like that doesn't happen here, but over there, the market has been integrated successfully. offound one ipo that one 4200% in two months and a few months later, it said we are restructuring. we are going to hold trading. in china, companies have the ability to suspend trading in their own stock if they say there is some new spending. they can just suspend it in

it has been a big day for the blue chip index here in china, in shenzhen and shanghai but for all the wrong reasons. the shanghai index felling by 4%. that was enough for the mechanism to kick in. it brought a halt and then it continued. it then felt by 7% so that was enough for the market to shet down for the rest-- shut down for the rest of the day. the mechanism was brought in to try to contain market volatility but it appears to have the reverse effect. why is this happening? i think the market is still being spooked by the same things that were spooking it in the summer when we had a lot of market volatility. there is dern that manufacturing-- concern that manufacturing output is continuing to contract. it has contracted for the 10th consecutive month. also the currency is continuing to weaken. there is concern about deepening tensions between saudi arabia and iran. let us also remember that this is an economy where some strange things are happening. it is burdened by local government debt on the one hand and also by currency flight, chinese that can get their money out of the co

mark: if you drive across the border to shenzhen, there are thousands of names.nect the tween the rest of the world and china -- between the rest of the world and china, because the gates are closed. but there are investment opportunities and technology in china, they are not listed in hong kong or shanghai area those are mostly in shenzhen. they are interesting. the investment opportunities? health, biotech has been hot going into 2016. , orthere other areas geographically, areas you are keen on? with china, as a value investor, i can't ignore the value in hong kong. im glad i don't live here, because if i did, the old expression, you are too close to, what is it? trees to see the forest. i would see all the problems, which i'm sure everybody wakes up every day and reads the paper. you know, i me, as live in singapore. singapore and malaysia have , have a fairly bad relationship. they are like a divorced couple squabbling. because of theg, political problems, the hong kong perception towards china has changed. hong kong is still that port of china.f capital into

trading was halted on the shenzhen and shanghai indexes after they fell more than 7%. on thursday trading halted after 12 minutes when the market fell by 5%. so trading was halted temporarily. 15 minutes later it resumed but dropped by 7% in just three minutes. so on thursday just 15 minutes of trading was possible. analysts we've spoken to say that these circuit-breakers is automatic shut down system that kicks in when shares start to fall very quickly may actually be making matters worse because shares fall by, say, 2 or 3%, that creates a stampede in selling orders as people try to get out before the circuit-breakers kick in. also on thursday the body that regulates china's stock market announced a new measure to try to instill some calm into the market. it said that big shareholders would be able to sell no more than 1% of their shares for the next three months. now, this moratorium came into place six months ago when there was last turmoil on china's stock market. so all eyes will be on the stock market on friday to see if calm can be restored >>> prices have fall

were all down, but it wasn't as bad as it had been on monday when shanghai closed down around 7%, shenzhen more than 8% and hong kong almost 3%. the reason for the continuing jiters in the market, i think, is probably this. on friday restrictions over the selling of shares are due to end. these restrictions were imposed during the market turbulence in the summer. if these restrictions are eased, it would mean a lot of cheap stock coming onto the market bringing prices down still further. because of that, the china security regulatory commission on tuesday issued a statement saying that they would take action to stop big shareholders selling their shares in blue chip companies. now, let's be clear. one of the reasons why some of these companies want to sell their shares is that they simply have no faith in their companies at the moment. so they're trying to flog them off to individual investors, but the government wants to protect those small investors. we have seen plenty evidence again on tuesday of government intervention in the market. they've been buying up shares in blue chip companie

leading stock markets in shane high and shenzhen dropped 6%. they were compounded by panic selling by investors. the falling sale of oil is impacting markets worldwide. today's plunge in the markets makes china's economy look worse than it actually is. >> we've seen a wild ride. there's been panic selling across the board for a number of months now and it's really a case of the animal spirit in action here in china, panic gripping investors, bolt individual investors and future investors and spreading to global indexes, where we're seeing other significant selloffs as a result in part of what's happening in china, also fueling the oil drop, as well. these two things combining to really lead to a general selloff across markets around the world. it's important to keep in mind that this tumult with us ride and these significant selloffs, a great deal of this is actually what you might call sound and furry not negativing a great deal. what i mean by that is that despite fluctuations, many of the fundamental indicators of the chinese economy are sti

shenzhen in the southeastern part of the country down 8%. tensions between saudi arabia and iran, the two real regional powers in the middle east, are they now preparing for direct and open conflict? diplomatic relations severed between the two. other countries pulling back their diplomatic relations with iran. also today, puerto rico's governor only on "power lunch" in the wake of this week's missed payment on some obligations. mandy drury is at the new york stock exchange. melissa joins us from the nasdaq where we're down 2.5%. >> and the key point to know about today's session is the growth stocks, the real winners of 2015, those are the ones taking it on the chin in today's session, the first session of the new year. look at what's going on with the f.a.n.g. stocks. take a look at apple. this could be the turnaround of the day. intraday it hit a low of $102. it's now almost $3 off of that low. earlier in the session we had not seen levels we saw 25today since the flash crash of august and the stock is down 17% in the past six months. for

the shanghai composite fell nearly 3%, while the tech-heavy shenzhen composite fell just over 4%. >>> u.s. presidential candidate donald trump plans to hold a fund-raiser for military veterans thursday night instead of going to the fox news debate. i want to show you here an invitation for his event. the debate is just days before the critical iowa caucuses. trump is feuding with fox news and host megyn kelly, who he's been calling biased. trump spoke with her colleague bill o'reilly, who told him skipping the debate is not good for america. watch. >> the terrorists are going to come at you. and it's going to be personal. they're going to do everything they can to diminish you and to -- and as president you have to rise above that. all right? and do what's best for the country. and this exposition that we're talking about today, people are going to say, you know, trump, he's just too self-absorbed to be president. >> there's got to be something because you set the all-time record in cable history and so did cnn and -- >> they want to know you. they want to know you. >> that's fine --

both the shanghaied index and the shenzhen fell. allies in saudi arabia are following the kingdoms lead and are downloading their relationship with iran. they cut diplomatic ties with iranians. anwill no longer have abbasid are in tehran. embassyafter the saudi was a tax after the death of a popular shiite cleric. making itobama is tougher for criminals or the mentally ill to buy some guns. -- increased background checks purchased from dealers, even if they are bought online or at gun shows. it targets many gun dealers who are not required to submit names for background checks. he is using executive order. federal authorities are keeping their distance from an armed antigovernment group over a national wildlife refuge in oregon. the goal is to turn over the property to the government. says it is working to bring about a peaceful resolution. rips up hisanders attack on wall street today. york, hech here in new promised that he would break up the banks that are now considered too big to fail. he says those banks have too much economic

so you're looking at the 300 largest stocks in shanghai and shenzhen. they dropped 7%, 1:30 after lunch local time. the trigger of the new auto mat i can circuit breaker -- automatic. it was to instill confidence but it didn't, caused more selling. pmi everyone is focusing on, features small and medium-sized businesses. those businesses are not covered in official data. it says a lot about the economy. we're looking at this in a broader context right now. market crash last sumner china, 43% down. ongoing anticorruption campaign of president she see ping on president xi. there has been a man on major investors selling their stocks on the ends of these crashes that we've been seeing. and uneven market that ban is being lifted in just a few day, neil and that is likely to cause even more jitters in the chinese markets. stuart: thank you very much, jo ling. we should point out the chinese market was up 9% last year, one of the best performing markets on earth. we should posit last summer was up north of 35%. so it lost a lot of ground in that interim. meanw

in your business, what are we talking about, shanghai, shenzhen?ways be good overall. though it will have ups and downs, ups and downs may not be as much as in the second-tier cities. most of the second-tier cities are hit pretty hard. david: later on, you will be chairing a panel discussion on the opportunities, a very broad topic. you have to head to some of the biggest banks. you have the richest businessmen in china. what do you want the audience to take away from this? >> first of all, i'd like to hear how these leaders, whether from government, from banks, or from the private sector, how they see the overall economy in china. forget about investment opportunity. you first know about where the economy is going. then we can talk about opportunities. there will always be opportunities. anybody who brags about that economies is not deserving of winning in the business world. when the market is bad, there are other things to do. hugger.ame is bear i love the bear. let the market go to hell. it hurts my competitor. it doesn't hurt me. there are ple