17 Burst results for "Chinese Adrs"
Bloomberg Radio New York
"chinese adrs" Discussed on Bloomberg Radio New York
"How things are shaping up perfect for the Asian trading day. Let's say get over to Bloomberg Doug Kris and Doug. I mean, it's a three no no. So how far will monetary policy go? How much inflation will rise and ultimately, what's the price they're willing to pay? Well, those are all tricky questions, rich. I think you got to begin with the fed minutes, right? They were a little hawkish, a few threads here, one is officials saying any unwarranted easing in financial conditions would certainly complicate the fed's effort to restore price stability. I want to say that another way, the fed will be forced to do more in the way of tightening if markets don't cooperate. Now, it was kind of interesting because today, treasury yields drifted lower across the curve despite that hawkish tone and we had some dollar weakness. The stock market meantime ended higher with the Dow picking up around four tenths of 1%. The S&P was up nearly 8 tenths of 1% today in the NASDAQ comprises about 7 tenths of 1%. In terms of treasuries, ten year yield last quoted in New York at 360 eight. Chinese ADRs bolted higher, we had that big rally in Hong Kong on Wednesday, hang seng was up more than 3%, and today stateside the NASDAQ Holden dragon China index was up more than 8 and a half percent. Crude oil though tumbling on concern over weak demand in China WTI down more than 5% today we broke below $73 over the past two days, Brian, crude oil has given back 9 and a half percent. Seems to be sending a different message than the China reopening. They're nervous, the oil market seems nervous about China's reopening. And yet stocks have been leaping to the upside. But I guess in China, it's not only the reopening, but it's the lighter touch on regulation. We heard that yesterday and the added support for the property sector will be getting to that in our discussions all throughout the morning. Let's go back to the fed because as Doug started off with that, that was the big message. The fed minutes, including an unusually blunt warning, don't underestimate the fed's determination to keep interest rates high for some time. Michael Farley is the chief U.S. economist at JPMorgan Chase
Bloomberg Radio New York
"chinese adrs" Discussed on Bloomberg Radio New York
"This is Bloomberg surveillance. There are a lot of real fundamental issues that are going to be pulling down inflation. The next quarter or two, we stay in this nominal GDP dwarfing real GDP environment. Driven by still elevated inflation. You can't ignore the shorter term data. You have to take it all into account. I think we see equities down in the near term, possibly recovering towards the end of the year. What's different this time, I think, is that if we have a recession, it's going to be a fed induced recession. Bloomberg surveillance with Tom Keene and Paul sweet on Bloomberg radio. Good Wednesday morning from the Bloomberg interactive broker studio in New York City to our worldwide audience equity futures point to a higher open this morning to vix is just below 23 yields pullback, ten year treasury, yielding about 3.67% on the commodities front WTI crude oil's lower just about $75 a barrel. Gold, boy, it continues to move higher, really trading aggressively offensive low over a couple of weeks ago. Now trades about 1800, $60 an ounce and Bitcoin. It even finds a bit out there and now trades it just below $17,000. Per token. I like to get some more color on some of the pre market equity trading Bloomberg markets corresponding critic Gupta, but I'm not sure he's been able to log in yet. I have been able to so you did the finger strategy. I did the lick the fingers. So for Bloomberg, for people who don't have a boomer terminal, we have to do the fingerprint thing to kind of log in. It's a security thing. And sometimes it doesn't work. So everybody who has a Bloomberg terminal knows to work around is you got to lick your finger. You got to lick your finger. Now will not do that. She will not lick her finger, so therefore she often has trouble logging in but your player. Yeah, I basically took one for the team and licked my finger and logged in and it worked out great. All right, what do you got for us? Well, we should start talking about Salesforce here. CRM is the taker and I would argue the big story of the morning. It is actually higher and this is coming on some I wouldn't say not so great news when it comes to the personal element or the jobs element. They're announcing a 10% workforce cut in addition to reducing some of their real estate holdings as well. So CRM is the ticker shares are about 5% in the pre market now. Typically, when you have that kind of workforce cut, it's supposed to be a negative for the stock, but this is actually a positive and you see this with a lot of the tech names because it means they're cutting back on some of their spending. So it's viewed as a positive for the balance sheet for the investment thesis, nevertheless, CRM, which by the way, huge doubt component. It's replaced ExxonMobil. After right before Exxon ripped like 80%. Yeah, so I wonder if that switch is going to happen again. So anyways, CRM up about 5% in the pre market. We should also talk about Microsoft because we're talking about tech companies and specifically cloud as well. Microsoft shares are actually down MSFT's your ticker down about 3% this morning coming off of a downgrade and a pretty brutal one out of UBS. Downgrading the company to a neutral from a buy on concern that the Asia cloud computing service get this is going to see steep growth deceleration that could be worse than expected. Wow, I haven't seen that call in ever. I don't think. Yeah, it's a pretty scathing review from UBS and one that's really punishing the shares this morning on a day, by the way, where the market is broadly up. So to see Microsoft really suffering down now, 3.2% falling as we speak is a pretty big deal. We also talk about this Chinese ADRs Paul, one of your favorites, Alibaba, BA, BA. Now we know a lot of these Chinese ADRs are actually higher across the board, but this is coming off of not COVID, but an idea that ants approved fundraising plan from the Chinese government is sending some speculation that perhaps that regulatory clamp down that scent, the entire Chinese ADR complex down, but what's the 80% in 2021? And then you have that additional fall in 2022. Well, maybe that is easing a little bit. So you do see the likes of Alibaba and their peers up to the tune about 7%. All right, good stuff. What's interesting? Yeah. No? I always follow. We are going to there's a lot of tech moves. The Apple move. I mean, who makes it bearish column, the cloud computing? I don't think I'd ever seen it. I've never seen that. No. I mean, it's just up up, up, up. But notice they also said neutral. They haven't said cell yet. Well, that's you think it's headed that way? No, that's if you're on a hold as a cell. Yeah. I'm in the camp with mister Sweeney. Really? Trying to preserve their investment banking neutral. Neutral. That's right. It was a Tom lehrer son from that from you. Years ago, good morning everyone. Impulse medium time came back together again. A good and beautiful thing
Bloomberg Radio New York
"chinese adrs" Discussed on Bloomberg Radio New York
"In Singapore and right here in Hong Kong. It is a 7 30 p.m. on the Atlantic seaboard of the United States and Rashad salami And I'm Doug Krishna at the Bloomberg interactive broke a studio in New York. We've got trading underway in Sydney in about 30 minutes, the action will begin in both Tokyo and in Seoul. We had positivity in U.S. stocks today. A different story for Chinese ADRs will talk more about that. Yields are up, the dollar is strong, a lot of weakness in the yen and the offshore Chinese yuan. More on Marcus when Brian Curtis joins this momentarily. Right now, a few of the sours top business stories. All right, well, let's start off with the NASDAQ golden dragon China index of some 65 Chinese equities posting. It's biggest drop on record. The sell off coming after Chinese president Xi Jinping packed the Politburo standing committee with 6 loyalists during the China party Congress. Derek scissors is chief economist at China beige book telling us why he thinks markets reacted so badly. China's not trying to implement the development model that a lot of people want them to implement. They want to turn back to growth and to think that more prosperity for private business is really important. And that's just hasn't been the case. It hasn't been the case before COVID. Xi Jinping attacked a private sector in China. Before COVID started, he wasn't exactly pro private sector before that. I think saying the fundamentals in China are good, misses a policy environment where China is not trying to do with a lot of foreign observers wanted to do. It's instead trying to make itself more independent. Still, some investors and equity strategy seem to be less concerned about the market sale of JPMorgan Chase's Marco Kala which saying that the route in Chinese equities is quote disconnected from fundamentals and presents a buying opportunity for stock investors. We go to Tesla next, the company lowered prices across its lineup in China by roughly 5 to 9%. These cuts reflect the tougher time international carmakers have had against the likes of local manufacturers as an example BYD sold a record amount of vehicles in China last month, then you've got, on the other hand, upstarts like neo and ex pung expanding their lineups, last week you may recall Tesla CEO Elon Musk also flagged that demand has been a little harder to come by due to China's property market slowdown, along with the energy crisis in Europe, Tesla's sales in China have also had to deal with improved utilization of the company's Shanghai factory and relative stability of the supply chain, which then contributed to some lower cost. Apple increasing prices for its music and the TV plus services for the first time Bloomberg's Mark gurman tells us why. Apple is saying this has to do with higher costs for licensing related to music. And on the TV plus front, when Apple TV plus launched in 2019, the company correctly says that they were basically no shows or very few shows at the get go. Now TV plus has dozens of shows. Still no back catalog, but certainly you're getting more bang for your buck now
Bloomberg Radio New York
"chinese adrs" Discussed on Bloomberg Radio New York
"Let's get some more color on the pre market trading Bloomberg markets correspondent critic Gupta. Pretty what are you looking at? Well, banks are the story this morning. I'm going to let you dive deeper into that in just a few minutes with Charlie bass. But for the stock moves, Bank of America shares BAC is your ticker shares up, get this. 4%. I thought those were good numbers. Some good numbers. This coming on a day, by the way, where your futures are up 1.6%. So some real outperformance here in those shares obviously topping those analyst estimates trading revenue of $4.1 billion heavily beating the 3.8 billion that was estimated. That size. It is. It is. But I'm going to let you know I dive into the details of that report. You should also be keeping an eye on this Chinese ADRs over the weekend, the Chinese Communist Party had their major kind of Congress setting up president Xi Jinping for a third term and unprecedented third term. Where he talked a lot about economic growth at a time, by the way, where a slowing Chinese economy is truly becoming a global worry, nevertheless, a bet on the president here showing up in Alibaba shares, for example, Baba up 2.9% JD.com not far behind up 4.4% as well. So keep an eye on this Chinese ADRs because if you're betting on tech or if you're betting on growth, but you're also betting on emerging markets. This is a sector that kind of checks both boxes. You also have some M and a in the media space Paul. I think you might appreciate this one Fox core and News Corp. might be recombining. Who cares? Well, investors do. Take a look at these fox shares. FO XA is the ticker. Shares are down 5%. What's the why there? I don't know. You know, they sold the majority of their media assets to The Walt Disney Company. So now what you got left is News Corp., which is their print assets and their Australian cable business. And Fox, I'm not sure what is even in the old Fox. Yeah, that's the contestants. But it's just Rupert. Let's bring it all together and give it all to one of my sons, I guess. And the bankers make money. Loughlin Murdoch, right? It seems to be seems to be the heir apparent. Nevertheless, the investor is still betting on good foxes down about 5% news corps up 4.6% and WSA. Yep, that's good stuff. All right, great stuff pretty good. Covering all the stock moves here, Tom. And we're going to
Bloomberg Radio New York
"chinese adrs" Discussed on Bloomberg Radio New York
"Sports from around the world. Here's Dan schwarzman. Thanks, Brian. Big surprises today in championship group stage action as McAfee high for knocks off events to nil as the Syria giants are in games of not advancing to the knockout stage. Elsa Manchester City and Copenhagen played a scoreless draw PSG and Benfica ended a one ultra while round Madrid needs to go 5 minutes into stoppage time to play shock character next to a one all drawn Poland. Meanwhile, Chelsea shutting out A.C. Milan to nil a Salzburg and dinamo Zagreb play doh one ultra. Multiple sources are reporting that Paris Saint-Germain start killing the BAPE is looking to leave the league at one giants during the January transfer window as his relationship with the club has deteriorated due to disagreements on the team's direction. And papi is set to want to join Real Madrid despite spurning the reigning La Liga champions 5 months ago in favor of signing a three year contract extension to remain a park to plans. Past masters champion Hideki matsuyama speaking at the zozo championship in Japan says that he believes Liv golf series player should receive world golf ranking points if they follow proper procedures. Matsuyama's thoughts are also echoed by Victor hovland, who believes that players should not get retroactive points, but should receive points moving forward. It's the divisional round of the Major League Baseball playoffs today before games on tap as a Phillies take a one game to none series lead over the braves the 7 to 6 win. Elsewhere, the Astros are bowing the Seattle Mariners on the Yankees are hosting the Cleveland guardians and the San Diego Padres are at the LA Dodgers. I'm Dan schwarzman that your Bloomberg world sports update. Markets, headlines, and breaking news 24 hours a day. At Bloomberg dot com, the Bloomberg business app and at Bloomberg quick take. This is a Bloomberg business flash. A lot of volatility not just for the stock market, but for the bond market as well here stateside. We had some dip buyers emerging midday when the S&P 500 fell to its lowest intraday level since 2020 that helped the equity market recover a bit and then sentiment took a hit late in the day when the head of the Bank of England said support for the British guilt market is going to end on Friday. This is governor Andrew Bailey. It's essentially a warning to fund managers, wind up the positions you're unable to maintain do it quickly because you've got three days left. We have got a weaker pound right now with Sterling trading a dollar 9 85. The dollar during the New York session picked up about two tenths of 1%. If you're measuring using the Bloomberg dollar spot index, we do have a weaker yen here at around one 45 80. In terms of the equity trade, the Dow managed to hold on to a slim gain, let's call it a tenth of 1%, but the S&P was down 7 tenths of 1% and we had the NASDAQ comp weaker by about 1.1%. Chinese ADRs were down on reports of new lockdowns in the city of Feng Yang at the same time some of the entertainment venues in Shanghai have been closed. We had the NASDAQ golden dragon China index down about three and a half percent. So we know that global growth is under pressure, not news, right? And for the moment, China is not relaxing at zero COVID strategy, maybe that changes after the party Congress next week. But today, crude oil, down about 2% in the regular session, 89 35 were trading off about another 8 tenths of 1% at the moment around 88 65. Intel is planning a major reduction in headcount. We are told the number could be in the thousands, stock right now is holding on to a slim gain in late trading call it a tenth of 1% and later today we'll have a rate decision from the bank of Korea, the BOK expected to hike by 50 basis points. We'll take another look at markets in about 15 minutes. Let's get to Ed Baxter for a look at global news headlines. Eddie. Oh, I got you Douglas said G
Bloomberg Radio New York
"chinese adrs" Discussed on Bloomberg Radio New York
"In for Tim's den of Victor today. One of the big stories, and we talked about it a little bit earlier when we looked at Chinese ADRs and how they're trading in the U.S., they've been on a tear for a while, but they also get a big bump up Picasso. Again, another round of stimulus posts. So we're going to talk China in a big way in just a moment. Yeah, China has been in the news and boy we've seen a lot of regulatory overhang on those names, but maybe a little bit of life. All right, we'll get to that with David riedel in just a moment. First up, go back to a lot of news after the close to Krishna. Yeah, I want to begin with gap. There's a lot to unpack here, Carol, the company reported adjusted EPS of 8 cents. Now the street had been looking for an adjusted loss of 6 cents. 8 cents profit versus expectations 6 cents lost, so by that measure better than expected. Now we have to back up and apply the context. If you include inventory impairment and a $35 million charge related to the company's old navy business in Mexico, gap posted a net loss for the second quarter of 13 cents. That compares to profit a year ago of 67 cents, so a very different company, right? Now at the same time, gap is withdrawing its prior outlook for fiscal 2022, gap has been struggling to sell outdated old navy items. Maybe you want to call them old, old navy items. Sorry I couldn't resist, shares are up 7% right now in the late U.S. session. The equity market is advancing. Or it did advance I should say in the regular session, we finished at session highs, the Dow was up 1% today, S&P 500 better by 1.4% NASDAQ comp up 1.7%. We had a number of hawkish comments ahead of the fed chairman's speech tomorrow at Jackson hole. We'll be talking more about that as we continue here on Bloomberg radio. I'm Doug prisoner and that is your Bloomberg business flash. Old old navy
Bloomberg Radio New York
"chinese adrs" Discussed on Bloomberg Radio New York
"This is Bloomberg surveillance. The reality is the economy is weakening. It's probably going to weaken further. We're still in this race between a peeking inflation and what will probably be a mild recession for Federal Reserve is unlikely to be kind to the equity market. If we see weakness in the labor market, how will the feds communication evolve? The market is basically pricing in a fed put. Bloomberg surveillance with Tom Keane and Paul sweet on Bloomberg radio. Good Tuesday morning from the Bloomberg interactive broker studio in New York City to our worldwide audience equity futures they point to a lower open this morning, the vix is higher just over 24 yields continue to grind lower with the ten year treasury yield 2.54% on the commodities front Debbie Chad crude oil is steady about $94 a barrel gold is higher. It just over $1800 an ounce and Bitcoin, it backs off, and now trades it just under $23,000 per token. Let's get some more color on those equity markets. We have some more earnings coming out. We'll do that with Bloomberg markets corresponding pretty good to create. A ton of earnings coming out, but if we can very quickly hit the geopolitical story because that's where you're actually seeing a pretty significant market move. Think about these Chinese ADRs. It's like the trade war has come back when it comes to some of this equity reaction. Like you said, features are lower, but look at some of these ADRs, Alibaba is the immediate go to. That's the first one I pulled out for my China call. So be ABA down about 3% and you have the likes of Baidu as well, be i-d-ed is your ticket there. It's down 3.4%. So once again, you are seeing a lot of these heavyweight Chinese ADRs really drop as well, but it's not just them. It's a lot of the semiconductor space as well. So Nvidia is when you want to keep an eye on NVDA is your ticker. And remember, this is so significant because Taiwan is such a major chip. So NVDA down 1.4% as well and it doesn't stop there. Intel I think is a great proxy to look at. I and TCs, your ticker down 8 tons of 1%. Intel, by the way, dealing with a ton of bad news, not only are they dealing with the geopolitical tensions, they also have the chips act that was passed that would be a Congress 52 billion analysts are saying but this might not actually be enough. You also have a ban from the commerce department saying that a lot of these big, heavyweights like a video like Intel can't actually expand their fab presence, which is essentially the way you need to build some of these chips in China that essentially incentivizing more production here and discouraging production there. So you see those Intel shares. It also got downgraded, by the way. I should say over at dz. So Intel shares really taking a whopping down 8 tenths of 1%. But let's go to the earnings story, like you mentioned Paul caterpillar, front of mind. CAT is your ticker. That is Middle America manufacturing. It is, but you know what the irony is. What's sinking the shares this morning? Is there China exposure? It comes all back down to that. This idea that they are saying that the Chinese sales are slowing as demand is detected across Asia and of course we know for those not familiar caterpillar makes the equipment for a lot of construction. Of course, we know that there's a major property slowdown concern across Asia, not to mention the costs associated with European and Chinese building. I should say. Okay. We also got to talk about Pinterest very quickly. PINS is your ticker. This is a crazy story to me. Pinterest. PINS, the shares are up 18% this morning. And I know. And let me outline all the time. Do you pin? Is that the not? Okay. I do not, but I'm also you're the demo getting married. Oh, I see. Okay, all right, all right. I asked Ed ludlow, 'cause he is getting married. At ludlow is getting married and he was like, and he's all in on it. I believe his wife is a Pinterest user. Esteemed West Coast report. West Coast is just doing like best stuff and all that. He also covers tech for the West Coast, obviously. But this is important because Pinterest came out, they had 433 million users. It was a beat on their users. So good news there. But it was a decline from a year earlier by get this 5%. So why are the shares up? It's all because of Elliott investment management. They confirmed a massive stake in the company saying they approved of the company's leadership, so it looks like it's that vote of that stamp of approval that's pushing the shares higher. Good stuff pretty soon. Doing all that kind of good stuff, giving us that stock report. As kriti was just mentioning here, what's moving the markets, what's certainly top of mind here is a geopolitical issue, particularly coming out of the Asia Pacific region as speaker Pelosi makes her Asia trip including Taiwan's reportedly today. Ross mathison Bloomberg senior executive editor for government joins us from London. Ross, you know, I was arguing with Matt Miller yesterday. I was saying, yeah, she can go, why not? She's a Speaker of the House and Matt was saying no. It's why raise issues here when I've got so much going on in the world. And then Tom Friedman I read his article
Bloomberg Radio New York
"chinese adrs" Discussed on Bloomberg Radio New York
"The bank prepares to update investors on risk compliance technology and wealth management on June 28th In other news the Swiss finance blog inside parada platz reportedly earlier said that state street could make a bid for Credit Suisse That's according to a single insider analyst A little bit skeptical about a deal Investment management CEO Kathy wood defending her flagship ETFs performance She says has been hit by high prices and rate hikes by the Federal Reserve If you look at our performance our flagship performance from the low in COVID to the peak in February of 21 that was 360% increase Innovation solves problems We had a lot of problems through the coronavirus innovation solves problems We were rewarded accordingly Since then peak to trough when we hit our trough thank goodness we passed it Down 75% Why Inflation and interest rates Well that is Kathy wood Speaking of the up summit in bensonville Arkansas would say that the massive infantry is now held by U.S. companies suggest the inflation will die down and yesterday we had targeted of course cutting its profit outlook for the second time in three weeks and that was on an inventory surge Amazon consumer chief Dave Clark is departing the company after two decades He'll join logistics software startup flexport as its co CEO on September 1st Amazon's CEO Andy yassi tells us he wasn't surprised by the move and the company will move forward And I think that if you want to build a business that lasts a hundred plus years and at last all of us you have to get used to these sort of transitions and make sure that you're doing the right succession planning and you've got the right talent to keep building the business and we've done that historically and I expect we'll do it again That's Amazon CEO Andy jazzy speaking at the Bloomberg tech summit They've Clark was among senior executives whose compensation package was singled out by investment advisory firms They argued his pay should be better tied to company performance Clark's pay package $56 million in 2021 China or Chinese ADRs or American deposit receipts rose after Beijing approved its second batch of video games this year following a month long afraid to get the details and have a Bloomberg Rosalind chin China's national press and publication administration granted licenses for 60 new games That's up from 45 in April Chinese publishing giants Tencent and nettie did not receive approval but analysts see their chances improving Overall it's a step toward normalization in the world's largest mobile entertainment arena In August Beijing regulates introduced stringent measures capping playtime for miners This was aimed at curbing addiction Bloomberg news reported that China's media watchdog has been reviewing new titles to determine whether they meet stricter criteria on content and child protection Our muslin chin Bloomberg daybreak Asia All right let's have a look at markets and look at the prospects for the trading day as well We have at the moment Asian equities probably facing headwinds and it's really down to what happened on Wall Street falling U.S. stocks high yields and of course a thermal oil price perhaps the responsible for all of that but as we just did here from Rosalind chin at least we saw the NASDAQ golden dragon China index bucking that trend and of course that gauge is now up for three successive sessions In fact at three month highs and that's as people look at the prospects perhaps of an end to the regulatory overhang over the tech sector in particular Of course just reminding ourselves of what did happen on Wall Street we did see moves to the downside for the three major indices into the moment futures contracts pretty much flat to just slightly higher at the moment and we're looking at the moment perhaps futures indicating that the Tokyo Sydney and Hong Kong are likely to open roughly flat or thereabouts That's currently where we are but of course one of the biggest global events today will be the ECB meeting We've got Christine Lagarde remarks be looked very very close if you're indications that a hike in July could come and could be as much as 50 basis points Many people think that today's meeting is not a live one there's a growing body of thought that suggesting that this one could actually turn into one where we see move on the cost of borrowing The data calendar it includes that all important China trader data and also Japan machine to orders We do check markets every.
Bloomberg Radio New York
"chinese adrs" Discussed on Bloomberg Radio New York
"Features They point to a lower open this morning the vix moves a little bit higher now just below 25 yields also moving higher ten year treasury yielding about 3.02% on the commodities front WTI crude moves a little bit higher yet again It just under a $121 a barrel gold it's higher 1853 announced we'll call it Bitcoin Pulls back a little bit a little bit lower just over $30,000 of token It's been there forever It seems like let's get some more color on the pre market equity trades with Bloomberg markets correspondent pretty good What are you looking at Well we got to go abroad for a second and take a look at some of these U.S. listed companies that ultimately are coming from China and I'm talking about their big tech names your big Internet names Alibaba JD and the like This comes after trying to improve a second batch of video games this year providing a signal of policy support to the country's Internet sector So it is boosting some of those Chinese ADRs for a little bit now Alibaba is your ticker up 4% in the pre market JD same story up about 4% as well Pinned duo duo is when you want to keep your eye on PDD is your ticker Pin pin duo duo Okay Ecommerce company I got the Alibaba on top of that one There you go Okay A 5% and the other one Baidu Okay I got that About just shy of 2% Here's why this is so stimulated I'm going to put a big emphasis this morning on these Chinese ADRs They have dropped And as the golden dragon index has dropped from peak to trough 73% in a year It is mind-blowing And a lot of this comes from regulatory scrutiny then China says actually you know what We're going to go easy We're going to go a little bit more easy on these guys And that is starting to bring back a little bit more investment when it comes to people popping it to some of these Chinese stocks Yeah that's what we call China risk You put that in the perspective and that's all you need to know It's called China risk You just don't know And you know what's so interesting about this morning's news is that they approved a second batch of video games this year A lot of these companies I named aren't even in the video game sector It's just about can they kind of loosen their grip a little bit Of course we know when it comes to video games China has been very vocal about limiting the amount of video games its own population its own children It's kind of with China now and if you don't They might not be wrong but the question is should they have that control And that seems to be at least the investment risk Let's do another quick one here I want to go to Altria Group MO is your ticker It's down 2.7% Morgan Stanley downgrading it to underweight citing increasing macro pressures and competitive risk for the folks who don't know this company They make cigarettes they make tobacco products This is considered a defensive stock traditionally also known for its dividend So to see it downgraded 6.7% dividend yield That's not bad Tom I mean that's better than you can get anywhere You and I remember Emma of another time Yes we did On the edge of blue chippy but in the last Richmond Virginia It has been a different story Pretty good to thank you so much greatly appreciate it this morning We're going to go to Credit Suisse in the morning first though Bloomberg surveillance a bunch of iconic resident.
Bloomberg Radio New York
"chinese adrs" Discussed on Bloomberg Radio New York
"From Bloomberg's European headquarters in the City of London and Laura Wright with this Bloomberg radio business flash risk on in the Asian session the Nikita two 5 up a tenth of a percent the Cosby up 6 tenths of a percent Taiwan and mainland Chinese markets closed for a holiday the hang seng up 1.7% the Hangzhou tech index rallying almost four and a half percent news that Chinese regulators will remove a key hurdle to allow the U.S. access to audits therefore mitigating the risk that Chinese ADRs will be delisted The Australia's ASX 200 up four tenths of a percent Looking ahead to futures price action Euro stocks 50 futures fractionally higher data that in March the largest European stock ETF Vanguard FTSE Europe saw the most monthly outflows since March of 2020 that said European stocks remain at a 35% discount to their U.S. peers In the bond space U.S. benchmark ten year treasury yielding two 41 up three basis points the Bloomberg dollar spot index unchanged The Aussie up two tenths of a percent against the greenback at a spot 7 5 position was inflation data out of Canberra rose 4% from a year ago the highest reading since 2008 the Hungarian foreign down a tenth of a percent against the U.S. dollar at a 332 position Hungary's prime minister Victor Orban securing a fourth consecutive term but Hungary still at risk of losing billions of Euros in EU funding based on adherence to rule of law Brent crude price $104 a barrel up half a percent showing some strength against a backdrop of bearish drivers As the Bloomberg radio business flashes Hannah George with the top.
Bloomberg Radio New York
"chinese adrs" Discussed on Bloomberg Radio New York
"Yards a little bit mixed some movement to both the up and down side Let's start off from Europe German defense company Rhine metal say it will take years for Germany's major defense spending plan to improve the capabilities of the country's army after decades of underinvestment the company says upgrades could take as long as 7 years that of course is good news for them those ADRs up 5% Moving from Germany to France French water utility viola sees a second year of robust profit growth as a benefit from the acquisition of a large rival French utility Suez those ADRs up just shy of 3% as well We'll end here with what's going on in China and update after that massive surge in those Chinese ADRs yesterday they are now under pressure once again pinned to a duo as your case study for that Those ADRs down 9% Charlie All right we thank you very much pretty Gupta checking out those ADRs ten year yield again 2.15% S&P up right now by 5 tenths of 1% I'm Charlie peloton that is a Bloomberg business flash This is balance and power with David Weston The Russian economy is in shambles and the question is how long will people can continue this war Is it sanctions the European Union and the United States have decided to show we can not do anything any time as you love Where the world of politics meets the world of business This is a great time to make an improvement in your job situations You got to miss them doing their best to guess at what's going to happen but it's just so hard to know Balance of power with David Westin on Bloomberg radio false positives in Ukraine negotiations as the war continues and president Xi doubles down on efforts to curb the spreading COVID virus in China from the Bloomberg interactive broker studio in New York This is the second hour of balance of power I'm David Westin President.
Bloomberg Radio New York
"chinese adrs" Discussed on Bloomberg Radio New York
"Where everyone right now is focused on those geopolitical issues Geopolitical issues that at one point on the day had really taken the wind out of stocks Yeah absolutely And we're bouncing off our lows but what's interesting I'm thinking about Russia I'm thinking about what China is doing in all of this and in the meantime China I've been watching some of those Chinese ADRs under a lot of pressure Again increased regulatory oversight We got that from the news overnight Out of China And just a reminder that we have to kind of keep an eye on a lot of different things in this environment Katie And I mean Chinese ADR is still under pressure but what caught my eye that after the press conference by President Biden you actually saw the Russian ruble catch a little bit of a bit It's now over 1% stronger against the dollar Haven't seen that in a while She did their romaine What's that She said stronger not higher It's all done You're invited back That's why I used to report on currencies I can't tell you that If you've already in the good graces of Taylor rich here we talk about the equity markets here We were down almost a couple of percentage points pretty much across the board We are well off the lows of the day right now The S&P only down about 6 tenths of a percent The Dow still down by a percentage point the NASDAQ composite down by 6 tenths and the Russell 2000 down by about three to four tenths We should point out just real quickly on the S&P 500 At one point in the day we had to hit that 10% threshold for correction We are slightly above that now about 9.8% below that all time high Remember we haven't closed at a 10% correction level since at least a couple of years Certainly keeping our eyes there on the drawdowns as we usually do Let's start down a little bit into the sector level Just we go down one level For example as we do for our radio audience every day the winners and the losers And this is highlighting remain the defensiveness in this market It's utilities and real estate Those are the bond proxies except wait for it Yields are higher on the day because we're actually might be more concerned about inflation than we are sort of risk havens or safe havens catching a bid But down at the bottom remain it is notable energy of course and some of these consumer discretionary stocks on that classic risk off day Those are the biggest losers Yeah and I'm going to take a look at some of the individual movers and unfortunately all of them are in the rake here despite the rebound off the lows for the broader market A lot of the big tech stocks are still in the red a lot of concerns here right now about valuations not only because of geopolitics but of course about inflation and the fed Tesla shares down 3% here on the day travel stocks remain on the back foot including United Airlines down a percent once again off the loads of the day but some concerns about any company here that has significant cross border exposure here may see shares down about three and a half percent on the day We're going to hear from the CEO a little bit later this hour on the heels of their earnings abroad And keep an eye on expediters international a freight and logistics company we don't talk a lot about them a much but they talked about the fact that they had a hack A cybersecurity hack here over the weekend This is a company that touches a lot of different industries and a lot of different companies So some concerns here about whether that could cause some ripple effects in the supply chain those shares down 2% You know it's really interesting the train You've got to take it all into account We've seen so much pressure on the equities but if you look at the dollar you look at gold you look at treasuries We haven't seen the run into safe haven specifically And I feel like if you look at the vix futures curve which is what you're looking at right now for those on radio it's basically a straight line but typically this curve slopes to the slopes downward excuse me And what we've seen is an inversion which is just a reminder that right now we're seeing concerns the vix really spike right now But we understand why it's those geopolitical concerns You look further out and things start to calm down So it's just a reminder that if we see the situation ease then we can see that we can go back to kind of just focusing on those normal things whether it's corporate earnings or what the fed does next guys If the apparel if I think that's what's so interesting when my conversation here with the CEO of micron I'm in beautiful Boise in the hour and right now and the conversation is actually everyone thought the supply chain headaches would ease in 2022 But now the CEO of micron saying look maybe it's going to take a little bit longer than anticipated because once again you've got more headwinds whether it be inflationary pressures where there is one off issues at certain manufacturing units where we've got still got omicron and notably now Russia Ukraine is not just about oil gas It's about metals It's also about neon about palladium about gases to make a chip to make a way for it takes 600 different chemicals and gases to do that And we spoke about how important perhaps Russia or how they're looking through these sorts of geopolitical tensions Just have a listen to what Sanjay martra said earlier We have multiple sources of.
Bloomberg Radio New York
"chinese adrs" Discussed on Bloomberg Radio New York
"It is 6 37 on Wall Street time now to take a look at stock some of the names moving in the pre market with Bloomberg radio and TV markets correspondent greedy Gupta creedy looks like investors like the outlook from Airbnb Yeah things are turning around when it comes to that pandemic I got two stocks to show that dynamic here Let's start with Airbnb though a B and B is to take her up 3% in the pre market that's coming after they beat revenue and profit estimates in the fourth quarter reporting a net income of $55 million Nathan compare that to a loss of $3.9 billion a year ago I think it's safe to say people are traveling again and that's of course working well for Airbnb Let me show you the other side of that pandemic trade though The idea of essentially some of those names that we're performing really well when people were in lockdown and the chief among them is going to be those that gaming sector in particular Roblox comes to mind are BLX as your ticker down 16% in the pre market They also reported earnings after the bell yesterday reporting bookings actually that missed the analyst estimates that also rose 20% from a year ago to 770 $1 million but compare that to the analyst estimate of 786 million and you can see why investors are a little bit disappointed but to the point of the Airbnb story it is also a reversal of that pandemic boost over the last two years ago the CEO urging investors to take the long view on the game platform company as opposed to just a pandemic name Yeah interesting to see those dynamic shift What other earnings are you looking at Well let's look at toast which is toast I should say to slumping 16% I stole that joke from Matt Miller I know it's pretty good Not too bad Toast It's a restaurant focused payments company other reported a mixed quarter showing a wider per share loss in the fourth quarter than Wall Street expected but higher revenue So this is once again something that's far more exposed to the restaurant sector We know that those restaurants haven't been coming back a 100% and toast kind of riding that wave I'll end here Nathan with Penn duo duo We gotta keep an eye on those Chinese ADRs PDD is the ticker for the shares up 2% getting a little bit of an upgrade here from city riding in a note that's upgrading it to a buy from a neutral saying that shares are attractively valued following the decline in the third quarter of 2021 And after the global textile of seeing some buyers go back into the Chinese market Nathan So not all the stocks are toast this morning Bloomberg radio and TV markets correspondent pretty Gupta And as we take a look at stocks as a whole ahead of the open geopolitics the focus for investors on a broader level Right now S&P futures are down But little change down almost three points now Dow futures down 31 points NASDAQ futures fluctuating between games losses right now The ten year treasury is up three 30 seconds now with the yield 2.03% in the yield on the two year right now just shy of 1.56% You have the very latest developments on the Ukraine situation and more from the nation's capital with Bloomberg government reporter Emily Wilkins joining us next this is Bloomberg He was you could save big when you bundle your home and auto with progressive but when we just come out and say it it feels like it falls a bit flat So we're going to use humor But we don't want anyone intelligent So nothing to goofy and we need to avoid any polarizing topics Oh and it has to be about.
Bloomberg Radio New York
"chinese adrs" Discussed on Bloomberg Radio New York
"Daybreak Asia In his 9 30 a.m. in Hong Kong a 30 p.m. in New York I'm Sharia And I'm Doug Chris we are coming to you from the Bloomberg interactive broker studio in New York We've got trading across much of Asia underway right now Hong Kong online in a little bit of positivity in the hang sang not by much the market on the mainland If you look at the Shanghai composite we're essentially flat here We'll take a closer look when David ingles joins us momentarily for a look at markets Right now a few of the showers top business stories We saw pressure for Chinese ADRs in the New York session One of them Alibaba while the company is in talks right now with the Chinese state owned firm about buying Baba stake in the Weibo Weibo is a hugely popular Twitter live social media platform in China Sources telling us bob is exploring options for its near 30% stake Bloomberg Jen tells us more about the possible buyer The potential acquire as reported is Shanghai media group So it is one of China's largest stay on the media and cultural conglomerates The context here is a happy report on page and taking our closer look and trying to pack giants on their growing colors and wanted to curb their influence in this virus sensitive media industry So the new teams latest move on that one We're also told the discussion could lead to the Shanghai media group purchasing all of Baba steak in Weibo Micron Technology says its memory chip output in China will be hit by the closing of the city of xi'an Let's get more from Bloomberg's Charlie pellet Officials are trying to limit a fresh outbreak of the COVID-19 virus The American company uses a test and assembly facility there a chip maker says it will be able to meet most of its customer demand but new supply arrangements may cause delays Microns announcement follows similar news earlier from a large arrival South Korean Samsung electronics which set its production in the Chinese city also will be affected In New York Charlie pellet Bloomberg daybreak Asia And some bone holders of China ever ground saying that they're yet to receive coupons that were due on Tuesday Bloomberg's Rosalind chin has more Overground owes more than $200 million on one note and about $50 million on the other both coupons have a 30 day grace period before a default can be declared Earlier this year overgrown had waited for the end of grace periods before paying coupons initially due in September and October but this month the developer missed payment after grace periods on $2 bonds ended on December 6th and the company was labeled a defaulter by two major international rating firms evergreen had said it would actively engage with offshore creditors on a restructuring plan That would be one of the largest debt revamps in China In Hong Kong and Muslim chin Bloomberg daybreak Asia We're at 33 past the hour David and Giles is in Hong Kong He's looking at the price action in markets particularly in HK and I'm looking at a lot of the healthcare stocks in Hong Kong's showing some weakness What are you seeing Yeah will she biologics leading that one at the 3% on that Alibaba health is on 1.7% signed by a farm down about 2% here So as you point out there Doug really leading the losses here in Hong Kong Just to point out two since we talked a lot ever ground if you're curious where that is we're down about 1.2% on that stock here in Hong Kong but it's a fairly split though when you look at a hanging index here at the open 31 down roughly 26 up 8 unchanged for its session lows and that one down about 20 points CSI 300 in terms of sector groups now at the open largely on the way up but you're not getting the sort of volumes this market of course is coming online about four minutes back So let's wait for this to really get warmed up But mostly seeing some gains here Apes out of the ten sector groups are seeing some semblance of green and I'm being extremely liberal and generous with that description there Just very quickly we're looking at sense time right now In fact three 85 just keep that in mind keep that number in mind That's the I appeal price It's a trading day mute today We're not trading at four 60 a pop so we're up 20% now for since time group This of course has been an IPO full of drama really having a lot of hurdles leading up to this trading debut today so quite a big pop there first They have trade to keep in mind though as well that it priced at the very bottom of the range so that might have at least left some money on the table if you will some bank reflect to describe that as far as the IPO is concerned You're only speaking we're looking at volumes and some pressure across equity markets Generally as we wrap up this year That's the market snapshot for now Let's get it going back to on Thank you for that David In fact I'm going to say in the city because the last major pro democracy media outlet in Hong Kong has seized operations at Baxter.
Bloomberg Radio New York
"chinese adrs" Discussed on Bloomberg Radio New York
"Warm welcome to all of you and hope you're all well and keeping safe and healthy I'm David inglis and I'm joining you guys from Hong Kong Good morning by the way and as Doug was pointing out yet another all time high on you as equity 70 77 zero not 17 don't be too marriage at this point in time I know we're wrapping up the load on four year sherry And then 6 O 1 a.m. in Hong Kong 6 O 1 p.m. in New York Welcome to the show We check the markets every 15 minutes throughout the trading day on Bloomberg radio and you guys said it It was another all time high year in the U.S. but we don't see that optimism as of yet across Asian equity markets We are talking about futures of course handsome futures under pressure right now after we already saw the 8 hand sang indexing is worth staying about a week That route in Internet giants really continuing And this despite the fact that we are seeing a little bit of more optimism on those reopening trades same thing happened here in the U.S. and same thing is happening across markets in Asia but we are not yet seeing that change We continue to see right now nikkei futures also under pressure and this of course putting the context we had seen another session of losses and concerns over the only cron spread leading to more losses for the Japanese yen holding at that 114 level The ASX 200 right now unchanged of course we do have a staggered open across Australia and this coming after the best thing in three weeks of course they were playing catch up after that returned from a four day weekend The Aussie dollar unchanged at the moment but around that one month high against the U.S. dollar And this of course as U.S. futures you guys mentioned right now we had seen that gain in the New York session unchanged at the moment the S&P 500 and the Dow closing at record highs In fact the S&P 500 posting the 70th record closing 2021 although there was no sound around me for Chinese ADRs announced that golden dragon China index falling more than 3% didi and Alibaba leading the declines in dog I know that you have more on these stories Yeah let's look at the story right now The Chinese ride hailing giant has confirmed the plan listing in Hong Kong Now the company is moving to de list from the New York Stock Exchange Earlier in the day Reuters reported the Hong Kong listing would allow owners of DD 80 ADRs to transfer them gradually to Hong Kong exchange and clearing Now the Hong Kong listing will not raise capital it will not issue stock we had ADRs indeed global down more than 8% today David Yeah that's going to be a problem When you look at aliba that's another one we're tracking obviously here just given its weight also on the index here So while the companies and talks into sherry's earlier point with a Chinese state owned firm about buying Baba steak and Weibo in a way whereas this massively popular Twitter like social media platform in China a sources tell us that Baba is exploring options for its near 30% stake The possible buyer is the state owned Shanghai media group and Bloomberg's each in shun gives us a little bit more context There have been many reports on how pages is taking a closer look at all the Chinese giants on the growing powers in particular one or two curves So the influence in the sensitive media industry and this changed the latest move on that front Yep and we are told the discussion could lead to Shanghai media groups purchasing of all of bob a stake in Weibo All right we're at 5 minutes past the hours we update global.
Bloomberg Radio New York
"chinese adrs" Discussed on Bloomberg Radio New York
"I'm Caroline hider New York in family Chang Let's get back to today's market movers because could you give to us the breakdown for us Absolutely Caroline it is earning season is upon us You are going to see it kick off this week And something that really keep in mind something on the macro level to watch is those earnings revisions Remember we had an 89% beat rate in the last earnings season Can we keep that up and so far It kind of seems like we're losing some of the upward momentum to revision So this week is going to be especially crucial when we talk about the banks and see what kind of tone it really sets as we do eventually get to some of those BioTech in tech companies that we are so waiting for I want to get to the intraday action though and look at some of those sub sectors in particular We had a negative day for the broader markets but it looks like that kind of trickled down to subsectors too and I really want to highlight that this last minute move really happened in the last 30 minutes of trading for a good chunk of the session NASDAQ BioTech and the golden dragon index those Chinese ADRs they were pretty positive for the majority of the trading day And of course the golden dragon index those Chinese ADRs haven't had that great of a time but a lot of that had to do with of course the mate won food delivery agent hovering over in China really getting a lesser than expected fine from Beijing on some of their antitrust practices So really interesting to watch her see if some of that momentum continues I want to end though with a subsector that Caroline was actually my very first beat when I first started covering stocks and that is video games Of course we all remember last year when those video game stocks were surging because people were at home People were spending more time and more money towards some of these platforms But take a look at what's done year to date You have a scene this kind of trendline come all the way down And I have the three major players I want to compare it to you by soft out of Europe Actually lagging the likes of Activision take two and EA Caroline Yeah interesting industry moves that interesting into product news as well Could he go up to fantastic Thank you for sending us up because we're going to talk a little bit more about gaming And in fact playing in the overall metaverse is apparently here Axe infinity you've heard us talk about it The plate earned model coupled with blockchain Slang players and real rewards and playing over in the Philippines Two now the popular Korean show squid game You might be consuming it when you're on Netflix but now it's infiltrating Roblox Many games you can experience the gut wrenching twists yourself Gaming industry is expanding fast into the so called metaverse And our next guest knows a thing or two about it Super League gaming CEO and hand And it's great to have some time in the end today And talk to us about this transition of 2D entertainment into what eventually will become more 3D me VR more AR how much are you seeing this interlinking between the entertainment world and the gaming world Yeah absolutely Thank you for having me Caroline You know I used to run marketing for thousands of retail locations around the world And if I could have flash forward to the current person I am today the message would be loud and clear I think any brand out there if you don't have a metaverse play happening you need to think about it It's the one way that you can connect to this young audience of gamers right where they are with their passions and a super organic natural way And create a persistent relationship around your brand when that carries over from digital physical So it really is the kind of modern ad model that's at play here Okay so if I'm playing sweat games on Roblox these mini games how old are you I know you've just made an acquisition in ant platform You must be thinking a lot about how you make that experience organic How do you Yeah absolutely So blocks business a company we recently purchased that has a relationship with 75 of the top Roblox game titles reaching 25 million monthly players So it's just a massive footprint inside the Roblox metaverse And there's really two primary ways that we interact with those with those brands and connect those brands The first is we have embedded advertising ad units in the game So just like if you're playing a game and you're running outside inside that universe you're going to pass a billboard right Just like you would if you were driving in your car down the road but then we also can take it a step further So recently we did an activation with Nickelodeon for a new TV show they were launching And we did a ten day takedown of the game where we actually re skin the game themed around the characters of the new Nickelodeon show And in those ten days we drove 50 million visits to the game and we also equated to about a 164 years of gameplay in that ten day period all around those beloved Nickelodeon characters Talk to us about advertising inherently within gaming of course there's been a lot of pushback about advertising within social media and a lot of the ethics that come involved in that How are you taking that I think he had the game in that respect Yeah absolutely I mean look a big piece of Super League has always been about democratizing good gaming And we have a pretty high bar on code of conduct We have about 5 million strong registered young players on some of our owned and operated properties So we take COVID compliance very seriously We're not pushing products in these games from these brands We're just integrating the experience and actually enhancing the experience So when I talked about that Nickelodeon example there were ways that you could unlock cool game modes and you got benefits through that experience that we create around those characters Don't just have of course what Super League gaming does is bring live eSports entertainment and experiences directly to the gamers out there And I'm interested in how that's looking live eSports bringing crowds together What we were seeing in its early innings was put on ice Is it coming back Yeah I mean I've talked really openly to my investors about this on earnings calls Look in the early days You know we ran eSports tournaments and experiences as one way to aggregate players and to create content around them But Super League is so much more than eSports Now I have said before on Bloomberg that the notion that eSports is just a $3 billion industry with the next couple of years I jokingly said I wouldn't get out of bed for that And I wouldn't I think there's so much more potential for eSports but it's early days in its narrow And what you'll see Super League doing in blocks does acquisition is lining up perfectly with that is what we told investors is that we would increasingly take on a bigger share of the metaverse blocks business does that that we would have an underpinning of creator economies So we're thinking much more broadly beyond eSports And so when our Roblox game designers participate in our ad model they get a cut of the action for that And that really democratizing as well who monetizes content is a big crust of the company And then the third thing is is that this is a modern ad model We're talking about 20 25 $30 CPMs And again deep deep engagement And so those were the three lanes that I told investors if we do an organic growth you're going to see us lean into these three lanes and luckily for us block space who's a company we had already been partnering with previously checked every one of those boxes Deep deep engagement from an inclusive audience I mean you sit here as a female CEO and many have been shining a.
Bloomberg Radio New York
"chinese adrs" Discussed on Bloomberg Radio New York
"Giant may tuan of course off the bat you have some of those Chinese ADRs doing quite well Alibaba at the top of the pack digger BA BA as well as some of the semiconductor companies ticker TSM the Taiwan Semiconductor manufacturing company also trading higher in sympathy The commodities rally showing up in ADRs as well Rio tinto RIO and BP ticker BP also in on the rally And I want to end Charlie with one of the worst performers in the ADR index and that is PAG seguro from saying that right they'll share slumping as much as 15% on Monday The Brazilian FinTech company on pace for their worst two day drop ever after Brazil's Central Bank announced a public consultation on Friday about Kathy fees at 0.5% on prepaid card transactions that ticker P a GS One of the worst performers on the day Charlie We thank you very much pretty Gupta So again recapping here stocks just turning negative S&P down by one point little change the Dow also little change down now by 15 NASDAQ up 17 I'm Charlie pellet that is a Bloomberg business flash This is balance and power with David Weston This entire year climate has been on the minds of so many people We have a generational obligation to transition to clean and renewable energy Where the world of politics meets the world of business Clearly as a country we're working away both out of this health pandemic with this economic pandemic as well 55,000 bridges in the United States right now that are structurally positioned Think about that Balance of power with David Weston on Bloomberg radio The IMF meets in Washington with the future of its leader hanging in the balance Another week without an infrastructure deal What does that mean We are missing And what will it take.