tencent leads rick declines in hong kong falling sharply after monday's dramatic run. -- tencent leadsong kong falling sharply after monday's dramatic run. haslinda: xi jinping says confrontation is a dead end street. that will balance the road to china with potential risk. david: and gamestop's stunning climb. read it to heart day traders ---- reddit charged day traders. we headed to the midday parts of the session in parts of asia. a look across your nifty futures. the cash market is closed and still trading in singapore, pretty much declines in all but two sectors. the bottom of your screen as you see. we are talking about normalization in terms of policy in china what that might mean, especially across your risk assets. haslinda: can broader markets, sentiment and indented under pressure, a couple things being watched, the timing of earnings out of the u.s. among biggest companies, global stocks still close to a record high. investors looking for new areas today. we talk about how markets cannot go in a straight line, perhaps it cannot really. david: we have seen good examples, of

tencent, people familiar say the u.s.sidering adding them to list of companies of which americans are prohibited from investing. rish? rishaad: getting to the -- [indiscernible] for the stock exchange of thailand up 1.1%. a steady picture for the thai baht. at these historically strong levels for the currency. 29.93. and this is the bake of thailand, a resurgence in coronavirus infections are raising the odds the economy will spend less than they forecast before. authorities curbing business and travel in order to shut down the country and curb the art outbreak. taking a look at the nifty moving to the upside. india's sovereign bonds. declining as the highest crude prices in 10 months have been stoking concerns about a bigger oil import price for the country . haslinda: back to our top story. resume joe biden certification process following the storm and of the capitol. several trompe l'oeil this are concerned -- trump loyalists considering abandoning ship. it does look like trump's closest allies are ready cook to confir

with alibaba and tencent creating this duopoly with into into services on their platform, and feeding their payment platform, regulators contend it is stifling new entrants and competition. alipay it is the big one with more than 55% of the market. these new rules say if one entity has more than 50% of the market in online transactions, or two entities have more than two thirds, and those two companies have more than two thirds, that can be designated a monopoly and regulators can break it up. you can get a grace. . time, and then you would have to remedy the situation. this is just the opening salvo. we have to hear from other regulators, including the antitrust watchdog in china, as far as these new rules, the changes to the 2008 law, how they will impact the new economy and companies like alibaba and tencent. rishaad: we will take a look at the eu mission president, speaking about the relationship and how it might affect those with the u.s. as the biden administration takes over. >> we, as the european union, we know what side of the table we are sitting on, on the side of the demo

haidi: tencent is on the cusp of joining the trillion dollar club.erday pushed its market cap close to the milestone. let's go to hong kong. does the scale of tencent's rally this year make sense if you are buying the stock at the moment? >> it makes sense the stock could gain, but a gain of this magnitude is very difficult to justify. its fundamentals and earnings and revenue haven't really changed at all. you mentioned yesterday's rally. there wasn't really a clear trigger for the scale of that gain. there was the announcement from a video startup company that is backed by tencent, going for an ambitious ipo in hong kong. again, you have the stock now trading at 40 times earnings, really getting to bubble territory. the southbound flows coming in from shenzhen and shanghai, 35% went straight into tencent. haidi: we are seeing the hang seng index close to reversing losses from the virus, the trade war, and the protests. this adding billions to the likes of jack ma. who are the biggest winners? >> the people that have stocks trading in hong kong are

some stocks were tracking alibaba, tencent surging in asia. these tech stocks will be -- they're wondering if alibaba can pull off the jumbo bond. do you have it. rishaad: let's get to these trade numbers. we have these exports out of china. exports of a little more than 18%. the country recording its largest ever monthly trade. great to have you on the program, you saw these numbers, what were your takeaways? >> this was the above consensus forecast. it is also in line with the regional trade data as we have seen from north korea and vietnam as well as anecdotal evidence of systems showing a very strong demand for a surge in shipment costs ahead of the chinese new year. rishaad: what can we read about the chinese economy from this and what can we read about the global economy from these numbers? we just had this coming through with the authorities in china saying that this is china's biggest trade partner. >> i think the chinese government is satisfied with closing the deal. especially after the final u.s. trade tensions. this -- cultivating

wps others, as well as office as well as tencent qq. those are the h. take effect for another 45 days, and now it is in the hands of the commerce department and wilbur ross. the next two weeks. which services of the apps will be banned, this is what wilbur ross has to say. "i stand with president trump's commitment to protect the privacy and security of americans by threats posed by the chinese communist party," and again, he highlighted again the national security threat repeatedly in the donald trump order with this new executive order. have gotten a, we bit of breaking news from alibaba. this is according to people familiar with the matter with a sale of the u.s. dollar denominated bond, depending on investor response, and the proceeds could reach $8 million, which alibaba may use as a general expenditure. the timeline is not final and subject to change, by people who did not want to be identified, and it is reuters with that story. nyse could bethe doing a reversal, not to delist the chinese telecommunications company? this has caused a lot of confu

dani: 31% stake in tencent.esterday when tencent rose so it is logical to think it would fall today. yesterday, it rose 6%. we will see what is erased today. matt: we will be watching that very closely. a lot of bubble talk today. you could see some deflation banks to dani burger. coming up, it is the market open. futures are a little bit all over the place this morning. we are not seeing a lot of size and it is difficult to discern any direction. we will see at the open what happens. that is in just four minutes' time. this is bloomberg. ♪ anna: welcome back to the european market open. here are your headlines. stock split as fiscal relief hopes get pushed to march, but it is not the only reason to sell this morning. the pboc sends ripples as officials warn about bubbles. institutional short-sellers reload on gamestop after losing $6 billion in the last two weeks. ubs announces a share buyback of up to 4 billion francs and a beat on net income. so begins the ralph harmon's era. we hear from the new ceo this mor

tencent, another record gain. alibaba backed by tencent. j.d. as well.ave the stuck connect as well so it is easier for institutions both on the mainland and hong kong to buy the shares. you also have this flood of money that continues north to south. haslinda: still to come, the indonesian president sees the economy rebounded from the recession. we hear exclusively from the finance minister about the risks that remain. this is bloomberg. ♪ >> indonesia's president expects the economy to rebound after the first position into decades. -- in two decades. speaking exclusively to bloomberg, her correspondence at a four-year growth target is realistic. >> the vet that is a factor. 5% growth can be -- the vaccine is giving everyone optimism, that is a factor. 5% growth can be gained. haslinda: china is expected to pose pretty strong growth for 2021. >> we can see that it is already affecting almost all of us. maybe except the oil price. that is reflecting in terms of the activity of the next quarter. they're very cautious about this possibility. there is a con

tencent and the chinese money lifting things in hong kong. u.s. futures lifted to the upside. a lot to be thought about when it comes to the handling of the global pandemic and the extent to which the fiscal stimulus can offset those pandemic concerns and the monetary policy can keep things stable. the dollar with all of that said, we are quite risk-on this morning and the dollar is retreating down on .1% or .2% depending on which index you look at. mark cudmore joins us now from singapore. good to speak to you. in terms of the underlying narrative on the virus, not a lot has changed really over the weekend, yet we have turned the gloom of friday into some optimism and hope for the start of a new week. there is a lot of talk about whether the fiscal stimulus will be as big as initially planned in the u.s., and people looking on the bright side of that particular discussion in this morning's session. mark: that's right. the underlying narrative has not changed and that is this overall, even though there are some hiccups, we will slowly overcome the virus problem at some point i

and tencent on its own, i know gamestop, the old blockbuster type of store the, tencent is the oppositeear. this is a behemoth. they have 700,000 users. finally, this is a name i've never talked about before, we're just looking at right now, i like the pattern on it which whs canopy if growth. it's a cannabis stock. vp harris was in support of decriminalizing marijuana. that stock, i love the pattern, i love where it's at, i think it's got huge upside over the next year. charles: probably the best funded of all the weed companies. rob, thank you very much, always appreciated. >>> barstool sports founder dave portnoy is giving away hundreds of thousands of dollars to small businesses across the country on the brink of closing for good including a longtime upstate new york pub. the parting glass pub in sarasota springs got $200,000 from the fund, and here's the reaction of the 81-year-old owner when she heard the news. >> ms. jones? [laughter] >> you're like a lottery ticket the, you know? one in a million chance, and i buy a lottery ticket every time. i don't expect to win but, oh, my go

that level of tencent music is at $22, it's up 2%. you could call it its cousin company, tencent holdings, is hitting an all-time high, 82.21, looking to administer paid users to its ranks. >>> back across the pacific, spotify singing out of tune, sharings down 7% as the information reports aping is planning a -- apple is planning a podcast prescription service to rival spotify. plus, citi says the company's massive podcast deals including with joe rogan and kim kardashian have not boosted subscription numbers, at least not yet. >>> president-elect joe biden hoping to unify democrats and republicans, but some on wall street are saying not so fast. charlie gasparino with more on that which is almost reminiscent of what donald trump faced when republicans didn't want to rubber stamp the $2,000 checks just a few months ago. >> that is true. and we didn't have really divided government, so you can imagine that now we do, even though kamala harris -- technically the vice president-elect -- will be the tie-breaker, you still have 50-50, and

they are steadfast in their conviction that they will now, i hate to single out both alibaba and tencentpayments area and the internet platforms they have combined, they are the duopoly that regulators are going to be perhaps targeting in these new draft antimonopoly rules, a revision of the 2008 revision of the antimonopoly laws. the pboc is out with its own draft laws on how to regulate payment platforms, which really is a duopoly. alipay used to have 70%, 80 5% of the market and now it is down to 55% but if you add wechat pay from tencent, you have put much the entire market aside from 5% of smaller players that include union pay and other smaller platforms. but it is primarily alipay and wechat pay that dominate. the pboc in these draft regulations says, if any one entity has more than 50% of the market of online transaction facilitation or if two entities have more than two thirds, which these two have, it could possibly determined to be a monopoly or in this case a duopoly and there could be steps taken to break them up. if they already have the licenses, they would be put on watch

kathleen: what is happening with alibaba and tencent in the united states?ing to be blacklisted? >> what we are hearing from numerous media reports including the dow jones newswire is the u.s. is expected to continue to allow americans to invest in the three big companies. and that they will not necessarily be put on the president's blacklist. del reporting the trump administration there plans to add those companies to the defense list of companies deemed to be in support of china's military. nine other companies will be added. bloomberg news just last week did report alibaba and tencent were left off a similar list from the treasury department. companies that are linked to a military in china. the ban of the so-called companies would be one of the most dramatic escalations get by the outgoing president given the sheer size of the firms and the difficulty unwinding the positions in the u.s. and here in hong kong. combined market value of their primary listings of just alibaba and tencent alone are well over $1 trillion. nearly twice the size of spain's stock

alibaba and tencent climbing after the u.s.gainst banning american investments in the chinese tech giants. we will look at china, u.s. politics, and italian politics. don't quite know what the day will bring in terms of a possible new government or a new prime minister. this is bloomberg. ♪ francine: impeached again. donald trump becomes the only president to be impeached twice. he now faces trial in the senate. treasury yields rise on a report that president-elect biden plans a covid relief package of about $2 trillion. his inauguration is in six days. and italy's government risks collapse after giuseppe conte's junior coalition partner pulls out. good morning and welcome to "bloomberg surveillance." i'm francine lacqua in london. tom keene in new york. tom, i think the story in politics -- we have various political stories, about the u.s., about inauguration, but also it is the impact on treasuries because the covid relief package is much bigger than the markets we are expecting. tom: the numbers shifted on stimuli, and i mea

and you are seeing tencent and alibaba dropping. of course this whiplash story you have been talking about all week. the new york stock exchange has decided it will delist the big china telcos. china mobile fall in the most since august of 2015 to june 2006 lows. deutsche bank calling this the buying opportunity of the decade. yousef: thank you for that. we will check back in with you in a moment. let's also run you through the first word headlines with simone foxman. rising virus numbers and japan are expected to trigger a state of emergency in tokyo later. local media says prime minister suga will impose new measures which will last at least a month. the move empowers local authorities to keep people at home and order businesses to close or limit their operation. bloomberg economics sees the emergency cutting .7% off national gdp. iran says it has successfully tested long-range so-called suicide drones in a major military exercise. local media says that jerome flew for about 1400 kilometers, but has a total range of 4000 kilometer

tencent rallied 11% today.0% of people in london would consider leaving for another european country. that is according to a survey taken last fall by a recruiter. the findings underscore that brexit and the pandemic mate make london less attractive to workers mobile enough to move. that is the bloomberg business flash. francine? francine: u.k. is considering tightening border controls to prevent the new strain of coronavirus. we are also getting headlines from boris johnson saying they need to protect from reinfection and they're looking at covid quarantine. i do not know whether this make sense to an american audience, but it is something australia did. you come out from abroad or into the country and you have to stay at a hotel for 10 days, i think you pay for it yourself. this is very controversial because a lot of people are saying what it you just enforce the quarantine and make sure people stay in their own homes before you go that extra step. to talk about what works and what doesn't, we are delighted t

-based investors own shares of alibaba here, they own tencent as well.esn't trade here in the same way. but it would be very significant and something worth keeping again a close eye on and we'll see what the transition of power in a couple of weeks means in terms of the approach to china, though there may not be that much different >> well, david, i mean, do you think that the way to pressure hong kong to be chinese to let go of the hong kong repression would be to use a financial? to use -- >> i -- personally, i don't -- you were advocating for no chinese ipos, i remember that. chinese company after chinese company would become public that to me also is something that -- do you really want to go down that road? >> i did suggest that, a lot of times i think i was harder line than the trump administration on what to do with china. didn't want a lot of these companies that were not -- did not have adequate financials to come here. because people are losing so much money and one of my jobs is to try to help people lose less money. but if they -- i always t

may add alibaba and tencent to a u.s. stock. shery: we will discuss that.see a ramp-up of u.s.-china tensions before joe house.nters the white again proceeding with a plan to delist three chinese telecom firms. u.s. officials debating whether to bar investment in alibaba group and tencent. let's discuss this with the director of eurasia group geo technology group kevin allison. thank -- great to have you with us. it is coming at a time when we see political violence, tensions across washington, d.c. easiestple saying the consensus between republicans and democrats to heal the country could be going hard against china. what will happen to president trump's executive orders, whether it is on chinese apps or all of these major telecom communications, bans, and so on? kevin: there is no question that during the course of the trump administration, the u.s. has taken a more aggressive a group -- approach to confronting china. i would say one of the things that we try to emphasize is that the reason for that both national and economic security -wise predate the tr

these are the red tencent things we have to protect. if we. could palm oil companies now. have taken here yes because. if big didn't make it it's that mean that we not use or lack. that a lot. and it. spread by when it could be going to be a full. 15 if you are. lucky that speak with this big. footprint over it. was that. soft before. but. it's. been a just few minutes. or so in these places very good place. when the palm oil company and the pentagon is not saddled the company is not allowed to sound. long a market value of $10000000.00 mine is rotting in the tropical heat. down what has happened to this land can be clearly seen here and they told us that the work in our forest would be to our advantage that palm oil was good for us buttercup i said but we don't want that and they want to negotiate prices with us but we refuse to get the loan again. if they're not here and don't cultivate palm trees then this fruit can grow here again a boy and then i'm happy that my ancestors and my father love this it grows naturally in this forest to taste delicious but it helps ward of

yesterday, the blacklist, the story was it would not be applied to alibaba and tencent.y department has convinced him not to add that, but the defense department has added xiaomi, the big mobile phone maker in china to the defense blacklist, which ultimately could lead to, or will lead, if it is not reversed, would lead to an investment band for americans who would have to the fast there shares a year from now, as well as -- have to divest there shares a year from now. also, there would have to be a sale to boeing and airbus. it could be unwound after the biden administration takes over. haslinda: that is the big question. stephen engle, thank you. well, we are in the middle of the trading day in singapore. currently up 0.3%, the third day of gains. up next, time for and look at some of the top recommendations across markets. plenty more ahead. this is bloomberg. ♪ ♪ so you're a small business, or a big one. you were thriving, but then... oh. ah. okay. plan, pivot. how do you bounce back? you don't, you bounce forward, with serious and reliable internet. powered by the l

the trump administration will now no longer target alibaba, baidu and tencent as part of an effort tofrom owning stock in chinese firms that the administration said had ties to the country's military. with no more suspicion swirling around them, alibaba jumping 3.8%, baidu5.8%, tencent above $81 a share. >>> beyond meat stocks sizzling as taco bell dips its toe in the plant-based pool. the mexican food chain now working on a meatless product set to be tested this year. you got beyond jumping 12.6%. now at $141 and change. yum brands which of course is the parent of taco bell is up about 1%. >>> the ipo puppy love in full slobber swing. petco surging in its first day of trade, moving higher by 54%. not bad after last night's upside pricing of shares, $18 apiece. today's action biting in earlier into chewy, the rival there. but into the close, chewy has turned around, up about 1%. the competition, though, is far from over for both of these names. bark box's market entry via spac is still on deck. >>> talk about a posh premiere. posh mart more than doubling in its nasdaq debut. the secon

officials are reportedly considering prohibiting from americans investing in alibaba and tencent as parts efforts to unwind u.s. invests in china. the question will a biden white house keep up this hard-line? lauren simonetti has more. lauren? reporter: charles, that answer is debatable but president trump's recent hard-line against chinese companies is pushing china higher on president-elect joe biden's agenda and helping to determine how hard a line he will take against our biggest ally, i'm sorry, our biggest competitor, quite frankly, charles, our biggest threat as well. so the latest action is "wall street journal" report of a potential ban on americans investments in alibaba which we call the amazon much china and tencent which owns the popular wechat. the reason is alleged ties to the chinese military but together these two companies are worth more than one trillion dollars. neither has responded to the allegations. now this journal report comes the same week that the new york stock exchange announced it is going to delist these three major chinese telecoms come the opening bell m

stories making news washington will not bought americans from investing in tech giants by do and tencent after all the 3 companies are exempt from a defense department blacklist targeting chinese with ties to the military that's after the treasury department worried over the negative market impact of about. the governing coalition in italy is on the brink of collapse after former prime minister matteo renzi pulled his party's ministers from the cabinet branches that the government's called $900.00 economic relief plans were in adequate prime minister just at the continental needs to cobble together a majority of face a no confidence vote. sharing platform air b.n. b. is blocking and canceling all the reservations in the washington d.c. metro area during the week of president elect joe biden's inauguration that also includes bookings made through its subsidiary hotel tonight security forces are on high alert after supporters of president trump stormed the u.s. capitol last week. and social media parlor favored platform for right wing voices might not come back into services says its c.e.o

the latest executive order will impact the light of tencent, weechat pay and a document scanning out. from users could be used against americans. china has consistently denied claims that these firms share their data with the chinese government. all of this comes amid yet more controversy all of this comes amid yet more co ntrove rsy over all of this comes amid yet more controversy over three of the largest telecom companies that i've been telling you about this week on whether or not they are going to be delisted from the new york stock exchange. the latest reports suggest treasury secretary steven mnuchin called the ceo of the new york stock exchange to insist that those three companies be taken off the exchange, so there is a chance the nysc might make a second u—turn after making a decision not to delist those firms. a p pa re ntly not to delist those firms. apparently they did that as there was some antiquity over whether the three firms were banned under president trump's order —— ambiguity. but now it seems clear that they are. honestly, the plot thickens. i will probably talk

chinese apps now the order includes and groups payment app ali pay as well as cam scanner sherratt tencent q.q. or $10.00 cent q.q. q.q. wallet we chat pay the may and p.s. office now the executive order says a quote aggressive action must be taken against developers of chinese apps to protect national security interests the commerce apartment has $45.00 days to decide which specific transactions will be banned under the executive order a spokesperson for the chinese foreign ministry weighed in on the move wednesday saying quote this is another example of the u.s. bullying arbitrary and had to monic behavior the us is overgeneralizing the concept of national security and abusing its national power to unreasonably suppress foreign companies which is detrimental to itself and others the relevant measures will certainly have some impact on the relevant chinese companies but more importantly they may damage the interests of u.s. consumers and the country for more on that let's try to bring in professor richard wolfe host of economic update and author of the sickness is the system when capitali

shares of china's internet behemoth tencent slumped in hong kong.r to china's central bank made comments to local media indicating excessive liquidity and cheap borrowing costs are creating trouble. mike lindell was banished from twitter. he continued to insist the election was rigged even after the u.s. capitol rise to left several people dead. harvard and yale are amongst the universities is endowments through digital currency. the biggest of those currencies, bitcoin, rose four-fold in 2020. that is the latest business flash. francine: this is what the markets are looking at. we had a correction yesterday because of a pushback, a possible delay in the recovery fund. global stocks mixed. we do have a bit of m&a news here in europe. worries about new virus variants. i am not seeing a lot on the market of volatile politics. tom: earnings coming in. a price move up to $4000, a nice lift for joe feldman. his enthusiasm on amazon. bitcoin is down a little bit. we need clarity on the american economy. it will be delivered by andrew of citigroup, next. t

if you look at other businesses, despite tencent, others are growing faster.hat will set things straight. there are dynamics around our size on the johannesburg stock exchange, where we are 30% of the specs index, and unusual number, that leads to trading dynamics that do not help us with the discount. in time we will see if we can mitigate some of that. matt: one of the great things about making more money is you can buy more stuff. you were active in the m&a scene in 2020. i wonder if you think we will see an active m&a scene in 2021, and do you plan on paying a part -- playing a part? bob: the year is off to an active start. activity levels are very high in technology in general. that will drive a lot of activity companies looking for ways to work more together. there will be more consolidation. we are actively looking at new opportunities. we have done a few investments in agricultural technology, one area we are excited about. it is basically a huge part of society where technology, and there is a lot of opportunity out there. technology applications is a

it drew investment from hillhouse capital in tencent valuing it at $2 billion.nefit from state home exercise during the pandemic, could seek a public offering as soon as this year. our market coverage continues looking ahead to the start of training and greater china. this is bloomberg. ♪ >> it is 9:00 in beijing and here in shanghai where we are live at the china conference, welcome to" bloomberg markets china open" i'm tom mackenzie. your: we are counting down first session of the week, our top story today, top democrats set to meet over the assault of the u.s. capitol as president

is said to be dropping its plans to ban investments in alibaba and tencent. a source tells bloomberg the treasury department wants to remove the uncertainty hanging over asia's two biggest companies. officials also debated locking baidu, but also dropped that plan. global news, 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. manus: laura, thank you for that. (announcer) back pain hurts, and it's frustrating. you can spend thousands on drugs, doctors, devices, and mattresses, and still not get relief. now there's aerotrainer by golo, the ergonomically correct exercise breakthrough that cradles your body so you can stretch and strengthen your core, relieve back pain, and tone your entire body. since i've been using the aerotrainer, my back pain is gone. when you're stretching your lower back on there, there is no better feeling. (announcer) do pelvic tilts for perfect abs and to strengthen your back. do planks for maximum core and total body conditioning. (wo

fundamentally, whether it is alibaba or tencent or jd.com, companies that are hot on nasdaq, in termsinternational revenue, they are tiny in comparison to domestic revenue. past,e have seen in the not just china but japan and south korea, these companies, when they try to develop, they encourage these companies to go abroad. have failediants the beijing government in terms of revenue abroad. i think there is this combination between disappointment as well as systemic risks that these regulators are now given a green light to rein in these tech companies. about we have to talk what is happening with jack ma, who hasn't appeared in public for the last several weeks. he didn't appear at the taping of his own television show. he basically vanished from public view since the cancellation of aunt's ipo. he gave a speech being quite critical of the lack of economic reform in china. what do you make of this, given that he is perhaps the most famous entrepreneur and tech figure coming out of china? >> in china, we have this old proverb that friends of mine would tell me, when the tree gets too

from the banking system amid warnings about growing -- with the hang seng now more than 2% lower, tencentding the losses, the plunge initially 5%, so close to that. chinese government bonds also pointed for the biggest decline since august. the pboc advisor speaking on the risk of asset -- another developing story, thanks to reddit users, gamestop shares had a gigantic day at one point rallying as much as 145% before hearing some of those gains. shares from blackberry to u.s. retailers saw big surges. dani burger has the details. why did the stoxx see this massive surge? what are analysts saying? >> this is a really crazy story, but this is a phenomenon that has been going on for more than a year. that is this retail interest on reddit and robinhood really driving the stock shares. i want to take gamestop as an example. starting with the initial fundamental story, one of a short, it is a videogame retailer. short interest is driving up this interest ratio. at the same time, this interesting narrative emerging on reddit, essentially pitting short-sellers at the establishment. reddit uses m

on china do you think this represents only a temporary reprieve then for the likes of alibaba on tencent. well i mean if it comes to probably even delisting some chinese companies we really have to wait and see we do not really know what joe biden is going to do at that beehive what we do know is that he in general is a supporter of multinational agreement still trying to form a coalition with western democracies maybe also with some asian nations like japan for example to build a front against them china the question is if that's a bit too late in the game just a couple of days ago we heard that china has signed an agreement with the european union so it really we have to wait and see what's going to happen and as i mentioned if it might be too late in the game when it comes to the terrorists joe biden did hint that he's not going to change anything at this point and then we also have to wait and see how high china is on the priority list of 4 upcoming president joe biden i mean we have the virus of pretty much out of control here in the united states and every 5th person tested for exa

today saw the likes of tencent helping propel this index higher.has seen an extraordinary run as we see the mainland money coming back into hong kong. references for hong kong stocks on we chat, china's most popular instant messaging tool, was 6.3 men -- million on tuesday, seven times the amount at the end of december. yousef: fascinating insight. thanks for that. decision day in turkey. the central bank is going to be making its announcement and it will be coming on the heels of a well-received bond. it trades -- it raised debt into once. -- issuance. simone, what did we learn from the bond sale in terms of appetite and what are economists telling you for expectations today? simone: the bond sale, very well received. there were 15 billion dollars worth of orders placed for the three point $5 billion issuance, bringing down the yields on these. that is a reflection of the confidence investors have after several months of market friendly policies. the interest rake -- rate hikes, you have been there for a few months but it is new, even more than ex

from search advertising to more social advertising, which is the trend we have seen in china with tencent we chat. they have been so successful being super aggregators around using social media platforms to drive e-commerce, so clearly the pandemic has accelerated that trend in the u.s., and i feel it is a net positive for a company like facebook. guy: looking forward to the coverage, to your thoughts only get the numbers. thank you for joining us, mandeep singh, senior technology analyst for bloomberg intelligence. this is bloomberg. ♪ guy: welcome back. nokia closed up 13% in europe. the apr's are trading -- well, they were suspended at 63%. there are stocks going crazy now. we are seeing restrictions coming in play. td ameritrade announcing some within the last few minutes. gamestop one of the stocks affected. our reddit investors -- are reddit investors shifting the point of attack? romaine bostick joins us now. what do you think? remaine -- romaine: it is relatively unprecedented. they put out a statement saying they were putting in some restrictions. it is not clear how it will affe

transactions with eight chinese apps, including alipay and tencent digital wallet.s riles up beijing at -- and we are joined by a senior advisor at the center for strategic and international studies. thanks for joining us. is this going to happen given that trump is leaving office in two weeks? >> the question on the chinese apps is, will it get blessed by the courts? is -- it is an executive order so it could happen. biden can overturn it. commerce has 45 days to implement it. i believe it will be up to biden. i don't think is -- this is one of the things he will do on the first day. he has a list of things to do on the first day and this is not at the top. it will be out there for a while, and i don't think it will necessarily go away. it is more likely the courts will block it like they blocked the similar orders on tiktok and we chat. course do you expect the biden administration to take on u.s.-china relations? do you believe they will take a similarly aggressive approach, given the level of tension between these two countries right now? bel: i think the policy

tencent and baidu. these tech stocks look vertical to me and they're not benefitting from u.s. stimulus there's much more going on here than just whatever biden and yellen have been talking about in recent days i just think there is this general tone of bullishness. you think about the united states stocks going into the next year. we've weathered probably the worst of what we'll see from the pandemic we got through it with a lot of accommodative policy and 30% or 40% earnings growth in the s&p this year. you could have 4% to 6% gdp growth when was the last time we could talk about that? we don't get quite back to where we were in 2019 but pretty darn close and many s&p components far overshoot where they were. so that is why we're at a 22 multiple on the s&p. it's not a cheap stock market but i think it's certainly a j justified one. >> a key point too, the fact the recovery story is not just a u.s. story but a global story. we've got less than 24 hours from now joe biden is going to be sworn in as the president of the united states. 46th president we learned today one of the

mothership today thanks bernstein getting constructive on the e-commerce names today, baba calling tencentortunity. the sector is overblown. for more on that go to cnbc.com. ♪ you can go your own way ♪ it's time you make the rules. so join the 2 million people who have switched to xfinity mobile. you can choose from the latest phones or bring your own device and choose the amount of data that's right for you to save even more. and you'll get nationwide 5g at no extra cost. all on the most reliable network. so choose a data option that's right for you. get nationwide 5g included and save up to $300 a year on the network rated #1 in customer satisfaction. it's your wireless. your rules. only with xfinity mobile. >>> silicon valley and big tech, which have both long been averse to the formation of unions among workers, are starting to feel the pressure in 2021 as google workers continue to build out their alliance now globally according to the verge this morning, and warehouse workers in amazon's alabama plant consider un unio unionizing and don't forget the tiring of the ten instacart employ

state department is weighing a ban on americans investing in alibaba and tencent. such a move would mark a significant escalation in the trump administration's crack drown o down on chinese tech companies they boasted a market cap of 1.23 frld with1. $1.2 trillion. >>> and the new york stock exchange has confirmed that it will delist three chinese telecom companies. >> and turning to another asset class, bitcoin has set a new record high as it topped $37,000. the rally has helped the total value of the wider crypto currency market breaking through $1 trillion for the first time i really have to say that the co-founder and partner of morgan creek digital joining us, and thank you so much for waking up so early to chat to us about bitcoin. i read somewhere that the market cap of bitcoin alone surpassed $600 billion last week and i think that paces it asi believe the 16th or 17th largest currency in the world even though it is not backed up by any central bank so many people are watching these moves with bewilderment trying to understand exactly what is going on in th

and ali pay, certainly there has been talks about limiting its reach in the u.s., as well as tencent's wepay but not a lot of americans use ali pay. it's mostly used by chinese tourists who come over to the united states and spend money so it's unclear what this means for the bottom line. of course this is just more pressure on top of that company. >> was the u.s. seen as a potential growth market? i'm just trying to figure out how investors are interpreting this in terms of if you cut off all the ali pay transactions in the united states, you mentioned it wouldn't impact it, but in the future was that a source of growth for the company >> that's a great point, yes when this was being discussed a few months ago, it was seen as hurting the growth prospects remember, melissa, that's also when ant group was valued above $300 billion its valuation now is thought to be around $100 billion it has far larger problems in the chinese mainland than it does in terms of growth expansion elsewhere. so yes, it does potentially hurt the expansion aims and ambitions, which we know that ant group has h

creators sell items related to the content the app has payment deals in place with ali pay, and tencents> and frontier plans on hiring pilots this year with a goal of bringing on about a hundred. hiring was frozen last year, and last summer amid the virus pandemic big news there on the jobs front. stay tuned "worldwide exchange" will be right back ♪♪ for skin as alive as you are... don't settle for silver 7 moisturizers 3 vitamins 24 hours hydration gold bond champion your skin ready to take your immune support to the next level? nature's bounty is here for you. gold bond the number one herbal supplement brand has everything you need to help keep your immune system strong. these folks, rt comes naturally they don't have time to y. go to the post office they have businesses to grow customers to care for lives to get home to they use stamps.com print discounted postage for any letter any package any time right from your computer all the services of the post office plus ups only cheaper get our special tv offer a 4-week trial plus postage and a digital scale go to stamps.com/tv and never go

this news is pushing other chinese stocks, alibaba, jd.com, tencen tencent.k at these jumps on all these names. nice move. let's get to our traders. david trainer and scott bauer on whether it's safe to buy chinese stocks right now. david, what do you think? >> i don't think so. this is going to be a toss-up for a long time. these are high political stakes and you know, look, every other day i think there's an editorial in the "wall street journal" talking about the existential threat of china, who really believed they should be a global power and rule the world and that it's historical abnormality that they are not ruling the world. this comes from folks on both the right and left side. it's a well-known fact in securities circles. these big stocks are part of the bargaining chips here and access to our markets is part of the economic leverage we can hold over china. we live in a world now where we're not going to see missiles and bombs and stuff being traded between countries but more about economic and cyberwarfare. these companies are part of the hostages

according to reuters, the white house had been considering adding alibaba, tencent, and baidu. with less than a week to go, the report adds that the administration may just move forward with a ban on nine other companies. >>> and snapchat has become the latest tech company to permanently ban president trump from its platform. the company citing the interest of public safety and efforts to stop the spread of misinformation and hate speech for its decision snapchat had stopped promoting president trump's content on its discover platform back in june, limiting his reach to users. who knew the white house had a snapchat i don't have one, do you, frank? >> i do not have a snapchat. i don't even understand snapchat it doesn't quite make sense to me i do like the little videos on instagram and even twitter now i can't connect to it. >> they copied snapchat. >> back to the petco ipo, i don't know anybody who spends on their cat, but i know all kinds of people who spend on their dog. i don't know if you have a pet yourself. >> i don't have a pet. i'm a dog person i think cats are too di

comew a rush of tech names to the market last year, and even then this tencent deal would be the biggestecord or keep that record when inbaba issued 8 billion 2014. matt: thank you very much, we will get you back here in the coming days to continue your reporting. let's take a quick look at what is going on with nasdaq futures. and this isan 2%, double the drop we saw 10-20 minutes ago. they are accelerating. it could be tied to the georgia runoff election results, after we already saw one of those elections declared for a democrat. race,k winning the senate a historical win because he is the first black senator ever theted from georgia, and first democrat georgia has sent to the senate in 20 years. jon ossoff, if he wins the second race, that would put democrats in control of the senate. it would be a 50-50 split with the vice president deciding a tie. the nasdaq futures are selling off. saudi arabia has donned the oil arket by announcing crude production cut of one million barrels per day. we are joined by will kennedy. meeting,an interesting extended, and now saudi is making a gesture

would you be looking at more traditional banks were internet players, the likes of tencent, for exampledavid: we think firstly china is hugely untapped. as i said earlier, whether it is from an institutional point of ownership or the ownership of foreign debt and securities. i think on that front there is huge potential. ubs cannot do it on its own. ,o tap into such a big market we need to rely on partners who can provide us with a large existing customer base. the might be through both traditional or nontraditional view. we are thinking about who will be the right partner for us and engaging in early discussion. that is a very exciting area and watch this space. tom: watch this space indeed. there is increased competition for headcount in the china market. what kind of targets are you looking at to increase your headcount and footprint here? david: in the short term we are very well-positioned already versus our competitors, so we are some way ahead compared to those who are only starting to form their own joint ventures. there is nor term, question china is the brightest spot in terms

technology is backed by tencent and sold 365 million shares at the top of the. banks and world's biggest internet ipo since hoover. -- uber. shery: you are taking a look at pictures. kate is on the line. this is coming after months of political dispute, after that second general election after decades of military rule. do we know about it at this point? >> this has been building for a mile. they won the last election in a landslide. there has been allegation that there was widespread fraud and it all came to a head today. it appears, based on the party that she has been detained, along with the president. they do have a provision that allows the military to take power, in an emergency, if a nation is divided. that is one, probable explanation for what happened here. we have not heard from military directly. haidi: what options for me, going forward? -- options remain, going forward? >> myanmar a precious promise of an economic opening faded over the years. they have struggled to rein in element of the military and are facing genocide charges for the trees -- for

the malaysian rubber glove makers, tencent, nintendo are leading the charge. better reversal to the reflation trade. that is still not really coming out of treasury markets at the moment. despite the worries, there isn't much of a change there. anna: let me ask you are question of the day. how would less dovish policy affect assets? we are asking this not because we are expecting any tilt to the more hawkish side from some of the world's global central banks. there might be areas where that is anticipated. we did notice that we had an op-ed on bloomberg from william dudley of the bank of new york federal reserve. he was saying that bonds will suffer a temper tantrum when we start to see this policy shift, when we start to see the fed more hawkish. what are you hearing on this? gregor: it was only a week ago that we were getting briefly worked up about the possibility of this. fed officials swatted down talk from the market. it's worth noticing that that tapir is starting to happen elsewhere. we had the reserve bank of new zealand already stating -- starti

is set to be dropping its plan to ban investments in alibaba and tencent.he treasury department blocked the move, removing the uncertainty hanging over asia's biggest companies. officials debated blocking search engines but also dropped that plan. global news 24 hours a day on air and at bloomberg quicktake, powered by 2700 journalists and analysts in 120 countries. this is bloomberg. matt: thanks very much for that. i want to give you a couple of more breaking news headlines. we will get a lot of retail news out today. that's happening in the u.k.. ab foods says primark's 16 week sales were 30% lower year-over-year. that's going the other direction of the tesco sales that we showed you earlier. i will correct that tesco third quarter like for like headline. those u.k. sales rose 6.7%. that was the third quarter gain at tesco, like for like u.k. cells. we have headlines coming out from boo-boo raising its full-year revenue gross to 36 percent. they'd had seen 28-32%. it is primarily an online retailer. that's a company that may have done better during the l

tencent focused on the u.k..ce with the company to help japanese firm sell products in the chinese markets. the supplier will report december revenue. it had forecast the fourth quarter back in november. it's get a quick look at how markets are trading so far in the session. decline ease up across the board. nikkei 225 trading with the kospi on the upside. it is lower in sydney. keep a close eye on what's going on with the dollar, which is trading at a 2018 low. we have a reflation coming back into the focus. and the bond paper could likely drive markets estimates. coming up on bloomberg markets, we take a look at the centex climbing on vaccine optimism and a focus on india's bright spots in 2021. ♪ this is bloomberg. -- this is bloomberg. ♪ >> it is 9:00 a.m. in beijing and shanghai. i'm tom mackenzie. >> i'm david ingles. counting down to the open in china, stocks across the region drifting after declines on wall street overnight. fears of surging virus numbers will