shenzhen property prices are up 160%, doing very well.hainot doing -- doing very well, shenzhen going to l. slow growth continues, but the communist party wants to remain in power. so the key financial stability, keep unemployment, keep it going along, allow people to move where there are on it -- where there are employment opportunities. china is more vast than europe. >> no big bank is coming. haidi: more monitoring than japan, for example? >> like a mausoleum. >> japan can afford not to reform because its debt will continue imploding. it does not own -- it does not oh foreigners. that is ethically right. vat or whatever you want to collect, that was a good choice. i was in japan when they went from 3% to 5% and killed consumption. seppuku. i, i was amazed they had the creativity to even think of increasing the sales tax. say, when all this stuff was happening, it kills things off. angie: we have to kill a because we ran out of time. until the next time. >> thank you very much. angie: we have "bloomberg markets middle east coming up at

japanese prime minister shenzhen lobby hosted -- the japanese prime minister said -- >> we should not be pessimistic. we have to be objective and perceive the risks that are present. unless we share the risks we will not be able to solve the problem. but they could not agree on was how. abe wants fiscal policy to boost growth. chancellor merkel is skeptical. g-7 leaders were unified on the negative effects of a brexit and the british prime minister use the opportunity to call for the u.k. to stay in the eu. >> if you leave the market inevitably you will end up with worse terms than we have now for trading with europe. >> the final declation included a pledge to tackle the migration crisis with more financial aid. >> one year ago, nigeria's first president took office in a democratic transition of power. it has been a nightmare ever since. the drastic drop in oil prices has read tablet on nigeria's economy. -- rick havwreaked havoc on ni's economy and citizens are despondent. >> for 20 years they have imported cloth but with the country in deep economic crisis the situation has never b

hype in the high prices we have seen, 25% rise in shanghai, 6% on a year-to-year basis in shenzhen.iven growth, what about monetary german growth? what did the pboc have to say over the weekend? reporter: the china bank came out saying the credit production we saw on friday and trying to reassure the markets and investors here saying that was down for what normally would have been a swap for a high-end expensive local government debt with usable bonds, something that is usually an anomaly. the pboc is reported. monetary policy is rooted but it really points to the difficulties in the balancing act. last week we heard from top lenders saying that leveraging and cutting overcapacity is a priority. but the pboc say they remain supportive. bloomberg intelligence thinks of cut is in- height -- order, but they do not expect a major slowdown. policymakers are going to tap the banks -- breaks gently with this complex slowdown. angie: thank you so much. tom mackenzie live in beijing. let's check other headlines. softbank is reporting sales at stake, and a finish gaining company super cell. t

is makersvision as policy try to tackle the high prices we have seen in cities like shanghai and shenzhen have inventories where they need to selloff, policy makers trying to ease the process and make it easier to buy up some of those homes. bloomberg intelligence showing that is already feeding through in strong sales. but we are still seeing price rises in shanghai and chin jin after policy -- engine after put in somes policies to try to make it more difficult to clamp down a little bit on what we're seeing as red-hot prices in those cities, particular chin jim -- chin chin the pboc providing a lot of credit and liquidity to the system to encourage home buys , sixthe last 6-12 months rate cut since november 2014, and cuts to the rrr ratio. they are clearing some of the inventories in the third tear ubses, and banks like saying the property sector will underpin growth in china into the third quarter. the top line is that april new home prices in china excluding affordable homes, up and 65 cities month on month. rishaad: thanks for that. tom mackenzie in beijing. center, thenvention third

shenzhen is the hardware of silicon valley now. and i think we will be the bio of silicon valley.software and artificial intelligence and robotics is all required for bio and bio is not easy to do online. it's about walking over and looking at samples. it is very physical, so you'd need to be m.i.t. and harvard. emily: you are working with a company called or tech? -- pure tech? joi: yes. i had to go to capital markets and got back just a few hours ago. they are setting some examples. a lot of companies require basic science and need to do fda trials and a lot of times, these technologies are not ready to be companies yet. pure tech is a new model for connecting academic research for companies. this experimenting and testing with new ways to translate academic research into companies is really important. one of the things you have spoken out about is bitcoin. what do you think the future of bitcoin is? companiesf my first was an internet service provider in japan and i worked on a lot of early internet protocol. the thing about the internet is we've had a lot of time to work out t

the eu and also outside because there are lots of things that have elected to be a part of like shenzhene. so therefore, they are benefiting from the best of two worlds, and i would advise them to think what it is to live one of the good worlds. ramy: visit bloomberg.com for more coverage of the brexit debate. bloomberg monitors can monitor all the news, polls, and indicators using the function brexgo. this is "bloomberg best." ♪ ♪ matt: the bloomberg function wirpgo shows investorssee zero probability of a move that is gathering in june. if you look in the bloomberg, we have splc that allows you to see the supply chain, splc, of any company that you enter. >> if you look at the bloomberg and run mhd on any mutual fund, you can see what is in the fund. ramy: there are 30,000 functions on the bloomberg. keep watching bloomberg television to learn more about our favorites. here is one more function to check out -- quicgo. it gives you access to the entire library of quick takes. where you can gain fast insight into timely topics. let's take a look at a quick take from this week. scarlet: t

shenzhen zi city has a gdp bigger than ireland or portugal or greece. when we talk about local governments and those issues we have to remember this is an enormous country with enormous gdp and we have to think like an continent. as big and as varied as europe. and for us that is part of the message. the shanghai composite doesn't represent the opportunity set for investors and the threat for investors that is coming out of china. >> really interesting. just to mention i tweeted some of those facts. they are just mind boggling. it is worth going back and looking once again. >> a lot of big numbers out there. >> mark, thank you for joining us. mark tinker. >>> speaking of the big race for the kbhous. a new report by the u.s. state department's inspector general says hillary clinton never asked for permission to use a private e-mail server and it would not have been approved. joining us now is nbc's tracie potts in washington. >> hey there. the question now is what impact is this going to have on clinton's campaign. she responds saying it is the same old

we saw the shenzhen finish down half a percent. and japan's numbers fell after the boj was told to stabilize the economy and wrap up growth. as we dive into the numbers, imports fell 23.3%. exports falling 10.1%. really reflecting some growing concerns in this region about when demand from china and also the strength of the emerging markets are more broadly. of course, as we have been discussing this morning, we had the boj governor kuroda telling cnbc today that the boj still has room to move if necessary if the conditions warrant it. keep focus in the region of japan as i mentioned, we are also looking at a drop in commodities like oil also weighing on the sidney died finishing down .60%. across china, will be hang seng and shanghai are down.66% a and .22%. we also saw gains elsewhere with the kospi gaining .40%. back over to you both. >>> budget airline ryanair has seen profits rise by 43%. this as it plans to sharply cut fares in order to compete. speaking to "squawk box" earlier michael michael o'leary said this. >> airlines r

mainland marketing, the shanghai and shenzhen down 0.1%.t has retraced those losses up 0011% to the minute. interestingly, we've had news flow out of the australia as well. finishing the section down .44%. glenn stabens delivers his final address as governor today. and failed to give indication of where monetary policy is going. however, his comments that inflation is too low in australia actually crushed the aussie. clearly, a mixed picture right across asian trade. that's how we're setting up in europe. back over to you. ♪ >>> there's a -- ubs chairman axel weber said a fed hike would not be a mistake. jeff, good to see you. why wouldn't it be a mistake? what's his line? >> well, ubs chairman feels that if the feds are comfortable with the current level of growth in the u.s. economy, and feel it's appropriate to take the step of hiking rates there, then they should just go ahead and do it. i mean, you'll know that axel weber has been quite a staunch critic of ultra low interest rates when he was at the bundes bank. he was never a big fan

china's shanghai and shenzhen indexes rallying 3% overnight. no economic news.nstead, the rally appears to be tied to the very political battle over whether china's two main lapd stock indexes should be included in some. world's biggest exchanges. bob pisani joins us on the nyse floor with more on this. bob? >> hello, michelle. the worm's largest index will announce whether they will assume stocks from china's indexes there. he's no stocks from mainland chicago, and china's mainland stock markets are the second largest markets in the world after the united states so inclusion of mainland china would greatly increase the weighting of china in many mutual funds and etfs, including the eem, the biggest emerging market etf in the world. the problem is a lot of fund managers do not believe that china's mainland stock market is ready for primetime. they are pushing back on msci telling them maybe they should be putting off a decision. one problem is the endless trading halts. remember china's stock market dropped 20%. that's a big problem. if you're an index fund or a

shenzhen is much worse. the biggest two-day drop in over a week. 5.5%. every single sector is down. the index is approaching these oversold levels. one thing to remember about shanghai, it is not a typical market. typically, when you get the index falling, you usually see an immediate bid up. bid up asoes not get quickly. it is something to keep in mind. asia is looking like this. the bag is fairly mixed. overall, most stocks are on their way up. we are getting pulled down by these energy numbers. japan, australia, south korea closing shop at the moment. the markets are fairly mixed. shanghai, forgot to mention the trade data that came out on the weekend. exactly in imports, not -- it does not exactly bode well. keep in mind we have had a fairly disappointing day so far from china. the exception is the forex reserves. weak dollar story, anyway. pmi data came out, not as good. import data, very bad. you could make an argument that way. risk appetite, they are not exactly at the idea level. india in lows. keeping things afloat in asia. one point 4%. mixed.

what do you see is the likelihood of msci including shanghai or shenzhen stocks next month? gerardo: i think the inclusion of china is going to happen. sooner oreaking, later. china is underrepresented. it is about 40% of the emerging markets gdp and just over 20% on an equity market cap perspective. establishing the connectivity of financial markets as they move ahead on opening their capital accounts. what we are going to see is a broader integration of chinese equity markets to the rest of the world. the same thing is going to happen eventually with fixed income markets where china is actually not represented in the major indices. talket: i also want to about argentina for a bit because that country's main etf has seen esther the stream of steady stream of inflows and that it will be reclassified to a frontier market. when do you see that happening? what conditions need to be met before that happens? gerardo: argentina has been shut out of capital markets for very long time, but before the 1990's,of 2001, back in argentina was one of the prominent emerging market economie

shanghai and shenzhen have had problems recently.ve trading holds remember in june pushback from people saying they're not ready to be included in the global indices. overnight they said they would try to limit trading halts to no more than three months, sounds ridiculously long but better than they've had so far. at the close we will see some inclusions from the u.s. listed china stocks in those embassy indices. you'll see action at the close in stocks like alibaba and jd.com. carl, good to be back. >> good to have you back, bob pisani. rick santelli's at the cme in chicago watching this ten-year. hey, rick. >> absolutely. that will be out in a few minutes. we'll quickly go through the charts in front of that may number. if you look at a one-week of tens and i picked one-week, can't do two-day, we were closed yesterday. i want you to notice the treasuries retaken the ground we slipped. we saw buying into the holiday weekend, everything up three basis points but of course the two-year already been pretty firm. if you look at a may 2n