firstby do -- baidu's offshore sale in years. china plunged as much as 86% after the company announced directors are investigating senior executives and other employees for a list fabricated -- alleged fabricated sales. this is aimed at the coo and other employees who report to him. the transactions in question occurred last year. around $310 million. but go to us -- let's go to australia. we could actually see a modest uptick as they predate the arrival of the coronavirus. the temptation is to kind of just skip through to the numbers that are going to be reflective of the new reality we have seen, but are we expecting upside, given the previous month was poor because of the bushfires? >> we are. but the temptation is a -- is to turn a blind eye because they represent the eye of the storm with the coronavirus and the bushfires. we are expecting to see a rebound with half of 1% after the contraction we had in january, .3%. likely to be short-lived coming in that market between the bushfires and the virus outbreak. it is really mar

david: most chinese companies that are technology leaders like alibaba, tencent, baidu, have dominant positions in china, but so far, they have not taken dominant positions outside of china. now, you are taking positions outside of china and building your business outside. have you been very successful outside of china so far? jean: i wouldn't call -- you know, we are very successful and we see very encouraging results. we are in brazil, mexico, colombia, in the latin market, and we are just entering into the australia and japan markets. david: how do you have to change everything for the different markets, are there different qualities you have to bring to the table? how do you make your service better for each of these countries? jean: i think we provide our service to the local people by combining two things, one is our global technology architecture, and then local innovation. we tailor make products for different markets. a product in brazil and a product in japan are very different. unlike other companies who do copy-paste, cookie cutting for all the markets. it is a very differ

up this hour,ng we speak to one of asia's top -- early investor in alibaba, baidu, to find out how the pandemic is affecting strategy. our guest joins the show in about half an hour. yvonne: up next, yet another milestone for covid-19 as experts say the world may have to get used to a new normal as the virus returns in waves. this is bloomberg. ♪ yvonne: two regrettable new milestones have been passed in the u.s. the number of coronavirus cases has passed the one million mark and has claimed more american lives in the vietnam war. some grim statistics out there but the trends still seem to think things are improving in the u.s.. rishaad: no matter how you slice it or dice it, a terrifying number of infections. the united states is roughly one third of the world's official tally of 3.1 million cases and just under a quarter of the at least 216,000 who have been killed by this pathogen. the situation, as you mentioned, appearing to improve in many parts of the net it states. new york saying hospital admissions have been following. it would pains to say be a miracle if the city itself a

june 25s bought 7,000 of them so that's the first of two unusual activities second one, chinese stock baidu. they're buying september, buying a lot more time, obviously, three full months past that june expiration they're buying the 125 calls with the stock at 101.50 so they're betting that this one may have that similar move to jd, another chinese stock that has had huge outperformance in the last month >> okay. thank you for that, doc. let's go through a couple of these calls now. joe terranova, this twitter call downgraded at jpmorgan, to neutral. they say shares are within 5% of their $25 price target they believe the risk/reward is less attractive right now. >> yeah, i've never really been a fan of twitter i think i tried that trade two years ago and it really didn't work they haven't been able to figure out how to monetize the platform and certainly, in this environment, they should be able to monetize the platform nasdaq franchisers are being -- having premiums paid for their stock price. twitter isn't. i agree with the call. >> okay, let me run through one more quickly it's jim lebe

guest: baidu. what's your choice? who has not done that around the world. they say sweden has not but the swedes do it on their own anyway . but when i heard a swedish health official talking, he was ok with going on an airplane but said you should have six to eight feet of social distancing. how can that be true on an airplane? what if we had that policy? they would be a lot of criticism. and there's the argument that locally their shipping more control. as i was waiting here i heard one listener say that. i understand that and i think it is sensible. but when you think about it, what if you have a governor who is extremely lackadaisical? or not competent? we have no choice but social distancing when we have no answer yet. everybody says go to the scientists and medical people. but we don't have all the answers. social ones.ot the there you need the epidemiology people, more than you need particularly talented laboratory scientists. at this point you need the epidemiologists and political leaders. they have to be involved. they have to be strong and they h