Bbc. Co. Uk news, and the news app. Now on bbc news, live to singapore for Asia Business report. The hong kong tests. Investors look to todays election result and tomorrows alibaba listing for clues on the territory future. The splinter net, the internet fracturing along us china lions. Lines. Good morning, as you. Hello, well. It is a monday. Glad you could join us for another action packed edition of alibaba. Im rico hizon. Lets start off with hong kong, because of huge week is starting for the city both politically and in the financial markets. This is the territorys Pro Democracy Movement has made huge gains in District Council elections, a major challenge to the embattled chief executive, carrie lam. The latest, lets cross over to hong kong and i am joined by my colleague, sharanjit leyl. Sharanjit, the hong kong stock market has opened for business. What sort of reaction are we seeing . Thats right, the hang seng is open and it is rising this morning. It was up i at the opening bell, just a few minutes ago. Really a response from many investors to this election result. It is a landslide victory, it appears. Of course, all the full results are not officially on just yet. We are expecting them in the next few hours, but already indications show that over 70 of hong kongers overwhelmingly supported the pro democracy camp and the pro democracy candidates. They swept up the pro establishment beijing candidates, essentially, and this was really a very strong signal, a message being sent to beijing, to the chief executive, carrie lam, that this is what they want, that they are showing a huge show of support to the protest movement, which we know has of course around this city to a standstill in the last six months. There has been street battles, chaos, transport being disrupted, but nonetheless it is an overwhelming message that this is what hong kongers want. They want more democracy, they want more, freer elections, and investors seem to be taking this in their stride, as well. We know that, though, the disruption thats been caused over the last six months has taken a big toll on this citys economy. It is a Financial Hub for asia, after all, but we know that it has slipped into its first recession in a decade, because of the reduced number of tourists coming here. A lot of them come from the mainland to hong kong, and also because businesses have been massively disrupted. A lot of the major banks and Small Businesses are the major banks and Small Businesses a re really the major banks and Small Businesses are really suffering, many folks saying they might look to move. Sharanjit leyl, in hong kong, thank you so much forjoining us. Just to give you an update, hong kongs hang sengindex give you an update, hong kongs hang seng index surging by more than i . That is about 300 points, in early trade. Meanwhile, confidence in the territorys position as a key trading hub faces a big test tomorrow with the listing of shares in chinese e commerce giant alibaba. Market analyst Margaret Young told me whether she expects any impact from that election on the market debut. I guess that political influences are playing less of a significant role in alibabas ipo. Because the tone has already been set in the pre roadshow and registration period. For example, the initial portion of its public trend has received oversubscription of more than a0 times, and its institutional trend has been more than three times oversubscribed. It suggests that this ipo has received huge demand from investors. But the Pro Democracy Movement has also been targeting businesses that are related to the mainland, so could this have an impact on Market Sentiment . No, i dont think that is going to bring a big impact to the ipo, because Institutional Investors are more rational and are focusing more on the long term, and for alibaba, its more on the long term, and for aliba ba, its major more on the long term, and for alibaba, its Major Business came from the mainland and from the rest of the world rather than hong kong itself. Margaret yang on alibaba. A drugs giant has confirmed it is buying the Medicines Company for 9. 7 billion. It is expected to broaden the swiss companys range of heart medicines and shore up growth threatened by patent expirations. Lvm h threatened by patent expirations. Lvmh is buying tiffany for six 16. 3 billion. According to reports a deal could be released within hours. It would be lvmhs largest takeover. Us billionaire, media tycoon and former new york mayor Michael Bloomberg has officially announced he is standing to be the Democratic Party president ial nominee. The 77 year old said he was standing, quote, to defeat donald trump and rebuild america. Lets turn our attention to the energy markets, as Global Oil Prices remain relatively robust in the face of the us china trade war, this is opec and robust in the face of the us china trade war, this is 0pec and its allies are expected to extend their existing outlook cuts when they meet next month. A correspondent told me whether he expects those production curbs to continue. Thats definitely the easiest thing for them to do, because otherwise they would have to come up with a full negotiation about how to divide the volumes they are going to release going forward, especially when they come to an environment which has been positive for the price of oil. There are three prevailing tensions in the market. One of them is, of course, the tightness triggered by the attacks on Saudi Oil Infrastructure and the fact that the kingdom is replenishing inventory is, coupled together with the sanctions on units of freight, company cost codes that have been tightening the market. And then on top of that you have the fa ct then on top of that you have the fact that the biggest surplus in the market now is in the us, and because of the trade war itself, that surplus is not being able to reach the biggest market, which is china, and where we see the biggest need for crude. And alejandro, we have been already seeing us refineries reducing the total crude Oil Processing so far in 2019 due to reduction in demand from america and other countries. How much more do you think will 0pec want to cut output, and at which level do they wa nt output, and at which level do they want prices at this point . Yes, we have a situation where the oversupply that exists in the us is not reaching the asian market, and refiners in the asia pacific are also reducing the rates of operation because crude is relatively expensive compared with the fuels they produce. So i think 0pec needs to be really cautious about not sending a more bullish signal to the market, because right now market seems to be balanced. The russian minister, a key member of 0pec plus, have signalled they are very happy with 60 per barrel. As the trade war drags on with 60 per barrel. As the trade wardrags on and with 60 per barrel. As the trade war drags on and the us was off more and more of its technologies from chinese companies, it is also dividing the world wide web, known as the splinternet. As our correspondence Karishma Vaswani finds out, this affects companies trying to do business in both countries. 0ne product for china and another for the rest of the world. Welcome to the splinternet, folks. Two digital ecosystems running side by side. And nothing illustrates it more than tiktok, the social media app which is taking the world by storm. 0wned social media app which is taking the world by storm. Owned by Chinese Company world by storm. Owned by chinese co m pa ny byte world by storm. Owned by Chinese Company byte dance, it has 500,000 viewers with a big chunk of its base in china and india. It is very differently is inside to outside the company. Same ap but different network, different servers, different censorship policies, kind of like a digital twin. But that wasnt enough for us lawmakers. They say the Chinese Social Media Company is using tiktok, its global offering, to shape the world and americans see and do on the internet. But, along with new challenges, the splinternet also presents new opportunities. We effectively duplicate your site, so in the left you have the global version, on the right we create a chinese version, which i will show you. Kevin built a company that makes International Websites load faster in mainland china. We effectively crawl through and replace where possible all these incompatible opponents with a chinese equivalent, so instead of a youtube video, maybe i would have that locally, or maybe just an mpa file. If i have a google map, we would automatically replace that. And theres a bunch of other technical code under the surface that we effectively re engineer and kind of customised for the chinese environment. That is how we tackle the splinternet. It is a question the splinternet. It is a question the cloud industry is already grappling with. Increasingly, a lot of our data is stored in the cloud. It isa of our data is stored in the cloud. It is a virtual warehouse for our information. But with the splinternet, businesses are facing the new reality when it comes to who they hand their data too. You do see they hand their data too. You do see the split happening, you say, ok, im going to use a global provider for north america and western europe and so on and so forth, or i am going to use a chinese providerfor the china market and affiliated markets. More than Virtual Networks and rules, the splinternet is split in ideology. But the consequences are very real. As the us and china get further apart, what we could be facing is an irreversible split in how the world works, starting right here. Lets have a quick look at the asia pacific markets, and all the focus right now is on the hong kong stock market, as the opposition Pro Democracy Movement made major gains in the territorys District Council elections. Currently very positive. The hang seng up by 1. 1 , about 280 points. Thank you so much for investing your time in us. I am rico hizon. See you in the next hour. This is bbc news. The top stories this hour pro democracy candidates in hong kongs local elections are on course to inflict an overwhelming defeat on pro beijing contenders. Leaked documents seen by the bbc reveal how prison camps in western china are being used to brainwash the muslim uighur minority. A 23 year old man has been charged in connection with the deaths of 39 vietnamese migrants found dead in a lorry trailer in essex last month. Christopher kennedy from County Armagh in Northern Ireland will appear before magistrates tomorrow. He is charged with offences related to a conspiracy to people traffic, and for breaking immigration laws. Australian police have failed to find any trace of a british man who went missing on a camping trip with friends in victoria yesterday. Aslan king, who is 25 and is originally from bristol, went missing after suffering a suspected seizure. It is thought he hit his head before rushing into thick bushland surrounding the camp. The site is near the town of princeton, beside cliffs on the victorian coast, near the tourist site known as the 12 apostles. Two major cinema chains have tonight pulled all screenings at the film blue story following a mass fight at a cinema complex in birmingham. Fans of the film about two street gangs in south london are outraged at the decision, saying there is no clear link between its screening and the violence. Charlotte gallagher reports. Screaming. A weekend trip to the cinema becomes a terrifying experience, seven Police Officers injured trying to break up a brawl involving around 100 people and machetes. Six have been arrested, the youngest a 13 year old girl. This startling picture is being shared on social media a group of young teenagers apparently armed with a machete. Were not entirely certain what caused it, and so were not going to get into that speculation. But it is reassuring that we were able to deal with it. Today, vue cinemas announced it was pulling this film, blue story, from all its venues. It is about gangs in london, though it is not known if the people involved in the violence at star city were there to watch it. Vue is one of the biggest cinema chains in the uk, with more than 90 cinemas. And most of the new releases, they end up in one of their screens. So its a big blow for the makers of blue story that their film has been dropped. Now, showcase cinemas are banning blue story as well. In South East London tonight, there was a special showing of the film at an independent cinema. I dont really see how this, you know, differs from, you know, your hollywood gangster film in terms of, you know, the gruesomeness and the violence thats involved. Now on bbc news, sport today. Hello, im gavin ramjaun. And this is sport today, live from the bbc sport centre. Coming up on this programme al hilal are the asian champions and become the final team to seal their place in next months Fifa Club World cup. Glory for spain in the davis cup in madrid, as rafael nadal seals their 6th title. And jon rahm is europes top golfer, clinching the season ending tour championship in dubai. Hello, and welcome to the programme. Saudi arabian side al hilal are the asian Club Champions for a record equalling third time. They beating japans Urawa Red Diamonds 2 0 in the second leg of the Champions League final for a 3 0 aggregate victory. Craig templeton reports. 0ptimism was high among the travelling fans, but they are one goal lead heading into the second leg was a slender one. Their opponents, temp one mac Urawa Red Diamonds, beat them in a final two yea rs diamonds, beat them in a final two years ago. Now diamonds, beat them in a final two years ago. Now was diamonds, beat them in a final two years ago. Now was the time for revenge. The match did not spike into life until the second half, with a sweeping al hilal move, Sebastian Genco with the ball. Surely now it was too much for the japanese side . That was how