wiped out the last of its gains made for the year so far. some of the heaviest losses came in from the big tech stocks which sent the nasdaq composite to a market leading loss of nearly 1.9%. shares of chinese real estate giant evergrande jumped by 28% as trading resumed in hong kong, after being halted last week. we will put up those figures for you as well, and as you can see the debt laden developer's stock market valuation has fallen by almost 99% sincejuly valuation has fallen by almost 99% since july 2020. valuation has fallen by almost 99% sincejuly 2020. we should also point out that it is a penny stock at this stage, just to put those numbers in context as well. 0ver to put those numbers in context as well. over the last year, it has come to light that the evergrande company is the world's most indebted developer, with liabilities at over $300 billion. but it's not alone. 0thersmaller over $300 billion. but it's not alone. other smaller developers have also defaulted on their debts, leaving unfinished building projects across the country. the chinese government has announced more support for real estate companies, including encouraging banks to extend the repayment periods of loans. the property market accounts for around a quarter of the world's second largest economy. of the world's second largest economy-— of the world's second largest econom .~ , , ., economy. well, because of the ro -e economy. well, because of the preperty market _ economy. well, because of the property market developmentsj property market developments that you just highlighted, i think we had to admit that on a very short—term, technical basis, it is prudent to stay the sidelines and just observe how these situations evolve. because right now we're at a point where sentiment has been dented so much and it has so negatively impacted that you can also see the investment flows out of the chinese investment areas have also been very heavily affected. so that is one area that led us to evaluate our medium and longer term view. there are still a lot of volatility around the news, although we had some positives that you just mentioned coming out after the hong kong market opened again. so we still evaluate the situation, and we will kind of assess when to go back into the market. mil assess when to go back into the market. �* . market. all right. the fraud trial of the _ market. all right. the fraud trial of the former - market. all right. the fraud trial of the former crypto i trial of the former crypto currency billionaire has started in new york with the process ofjury started in new york with the process of jury selection. started in new york with the process ofjury selection. sam bankman—fried shocked the markets nearly a year ago when his ftx exchange went bankrupt. federal prosecutors accuse him of embezzling billions of dollars from clients to support a hedge fund by luxury properties and also donate millions to political candidates. he has pleaded not guilty to seven counts of fraud. it could also influence how crypto is regulated going forward. the bbc�*s erin delmore has the story. sam bankman—fried once held court with reporters from his $30 million bahamas penthouse. now he is in court, marking another turn in the crypto billionaire's meteoric rise and cataclysmic fall. he billionaire's meteoric rise and cataclysmic fall.— billionaire's meteoric rise and cataclysmic fall. he was hailed as a visionary _ cataclysmic fall. he was hailed as a visionary of _ cataclysmic fall. he was hailed as a visionary of crypto - cataclysmic fall. he was hailed as a visionary of crypto and - as a visionary of crypto and someone who is going to take the industry to new heights. now he is an indicted fraudster, who is facing a criminal trial.— criminal trial. mr bankman-fried i criminal trial. mr| bankman-fried is criminal trial. mr - bankman-fried is the criminaltrial. mr bankman—fried is the founder and former chief executive of the crypto currency exchange, ftx. he is at the centre of what prosecutors are calling one of the biggest financial frauds in us history. prosecutors say he engaged in a years long scheme to use billions of dollars of ftx customer money to enrich himself and prop up his crypto hedge fund, a la metre research. along the way he tried to make ftx a household name, from branding sports arenas to buying a super bowl ad. ., ., , arenas to buying a super bowl ad. ~' . , , arenas to buying a super bowl ad. ~ . , _ , ad. like i was saying, it is ftx. ad. like i was saying, it is m, it— ad. like i was saying, it is m, it is— ad. like i was saying, it is m, it is a— ad. like i was saying, it is ftx, it is a safe _ ad. like i was saying, it is ftx, it is a safe and - ad. like i was saying, it is ftx, it is a safe and easy| ad. like i was saying, it is. ftx, it is a safe and easy way to get into crypto. i ftx, it is a safe and easy way to get into crypto.— to get into crypto. i don't think s0- _ to get into crypto. i don't think so. but _ to get into crypto. i don't think so. but when - to get into crypto. i don't think so. but when ftx i think so. but when ftx collapsed _ think so. but when ftx collapsed in _ think so. but when ftx. collapsed in september, think so. but when ftx - collapsed in september, more than $8 million in customer funds went missing. mr bankman—fried is pleading not guilty, and this is what he told the bbcjust before his arrest. told the bbc 'ust before his arrest. ~ , ., ., arrest. where you are incompetent - arrest. where you are incompetent or - arrest. where you are j incompetent or where arrest. where you are - incompetent or where you fraudulent? i incompetent or where you fraudulent?— incompetent or where you fraudulent? ., ~ ., , fraudulent? i did not knowingly commit fraud, _ fraudulent? i did not knowingly commit fraud, i _ fraudulent? i did not knowingly commit fraud, i don't _ fraudulent? i did not knowingly commit fraud, i don't think - fraudulent? i did not knowingly commit fraud, i don't think i i commit fraud, i don't think i committed fraud, i didn't want any of— committed fraud, ididn't want any of this— committed fraud, i didn't want any of this to happen.- any of this to happen. daniel currie is a — any of this to happen. daniel currie is a former _ any of this to happen. daniel currie is a former federal - currie is a former federal prosecutor and she says the garment has the edge. the government _ garment has the edge. the government has _ garment has the edge. tue: government has the garment has the edge. t'te: government has the benefit garment has the edge. t"'te: government has the benefit of several corroborating witnesses, who were kounde —— co—founders along with mr bankman—fried, and who are classic insiders. it bankman-fried, and who are classic insiders.— classic insiders. if sam bankman-fried - classic insiders. if sam bankman-fried is - classic insiders. if sam l bankman-fried is found classic insiders. if sam - bankman-fried is found guilty bankman—fried is found guilty of all seven charges he could spend decades in prison, and this case has wider implications, forcing the debate over how crypto is regulated back into the spotlight. erin delmar, bbc news in new york. to india now where the world bank has retained its growth forecast for the country at more than 6% this year. the organisation says it will continue to grow rapidly over the next three years as well but there are a number of headwinds emerging for asia's third and largest economy. from mumbai, this report. the world bank expects india to grow at the 6.3 to 6.5% levels over the next three years. many countries would envy these numbers, and they do indicate that india will remain one of the fastest—growing major economies in the world. there are a number of macro challenges that could take some steam of this growth. for one, the bank has raised india's inflation projection from 5.2% to 5.9% for this year. food prices remain elevated, and now commodity prices are going up. what this means is the possibility of interest rate cards has been pushed back to the next financial year, according to many economists. it is something that will weigh on discretionary spending by households as we approach the festive season, especially since many high—value purchases are made with loans. a subpar monsoon could also affect demand for goods and is as is, particularly from farming dependent rural areas. add to this challenging global conditions, which have already begun hitting india's exports. all of these factors are likely to take a toll on growth numbers, as we enter the second half of this financial year. now to our bbc weekly series, dealing with angry customers on support calls may not sound like the most glamorous job in the world, but we have been speaking to one ceo who likes to get his hands dirty doing it, and he has been telling the bbc exactly why. 1&5 it, and he has been telling the bbc exactly why.— it, and he has been telling the bbc exactly why. as a tech ceo, one of the _ bbc exactly why. as a tech ceo, one of the most _ bbc exactly why. as a tech ceo, one of the most valuable - bbc exactly why. as a tech ceo, one of the most valuable uses . one of the most valuable uses of my time is actually taking customer support calls. running a tech company is a lot like running a coffee shop. you can actually go your entire career without ever meeting a customer, because customers don't come in and talk to you. so as the ceo, you need to practically reach out to customers to get to know them. this can mean answering customer support tickets, taking customer calls or being on sales call because if you don't do this you can really lose track of what your customers actually need from you. one of the funniest experiences i had as a tech ceo taking customer support calls was one time i had a customer tell me, wow, you know the business very well, is there some manager i can give some feedback too, i would love to tell you the greatjob you're doing. i tell them, tell you the greatjob you're doing. itell them, thanks tell you the greatjob you're doing. i tell them, thanks a lot, i let them know. more news making headlines, malaysia's prime minister has threatened legal action against anyone found hoarding rice, as concerns over rising prices and supply shortages have led to consumers stockpiling local grains. the southeast asian country imports around 38% of its race needs and is feeling the impact of import restrictions imposed by countries like india, leading to panic buyers by consuming —— ijy to panic buyers by consuming —— by consumers. tiktok is testing a new monthly subscription, which would get rid of adverts on the video sharing site. the bbc at the moment understands that the chinese firm is trying out the service in an english speaking market outside the us, but it has also declined to comment on exactly where that is. the subscription is being tested at $4.99. tiktok currently displays personalised adverts for all users over the age of 18. us treasury secretary janet yellen says america has become overly dependent on china for critical supply chains, particularly in technology clean energy products. ms yellen has repeated her long—standing view that the us does not want to decouple economically from china. however, she says the us would face national security concerns without a robust semiconductor sector of its own, and that last year's chips and science act will help reverse that trend. those are the big stories we are tracking on asia business report. much more on the bbc news website. thanks very much for watching but of course do stay on with the bbc news. bbc news, bringing you different stories from across the uk. doug has cystic fibrosis. 11 years ago, he was on a waiting list, desperately needing a new lungs. you can sa ifi needing a new lungs. you can say if i have — needing a new lungs. you can say if i have it _ needing a new lungs. you can say if i have it will _ needing a new lungs. you can say if i have it will work - needing a new lungs. you can say if i have it will work but i say if i have it will work but you can also say with very great certainty if i don't have it, iwill great certainty if i don't have it, i will not be here anymore. three years ago in 2020, the law changed so that all adults in england are now considered as having agreed to donate their organs when they die. unless they have recorded a decision not to. but despite the law change, the consent rate is down.— the law change, the consent rate is down. it's very special to die in _ rate is down. it's very special to die in the _ rate is down. it's very special to die in the circumstance - rate is down. it's very special. to die in the circumstance that allows you to become a donor. that is probably only about 1% of deaths in the uk. you are much more likely to need a transplant in your life than you are today in the circumstances that allows you to become a donor. i circumstances that allows you to become a donor.— circumstances that allows you to become a donor. i would not have seen _ to become a donor. i would not have seen my _ to become a donor. i would not have seen my son _ to become a donor. i would not have seen my son 's _ to become a donor. i would not have seen my son 's birth. - to become a donor. i would not have seen my son 's birth. i - have seen my son 's birth. i wouldn't _ have seen my son 's birth. i wouldn't be able to be part of my family, be with my friends. my donor's family were presented with such a difficult choice — presented with such a difficult choice at _ presented with such a difficult choice at such a difficult time, _ choice at such a difficult time, and to have the courage and to— time, and to have the courage and to make that decision is just— and to make that decision is just remarkable, and i will never— just remarkable, and i will never be _ just remarkable, and i will never be able to explain how grateful _ never be able to explain how grateful i am.— never be able to explain how grateful i am. for more stories from across — grateful i am. for more stories from across the _ grateful i am. for more stories from across the uk, _ grateful i am. for more stories from across the uk, head - grateful i am. for more stories from across the uk, head to i grateful i am. for more storiesl from across the uk, head to the bbc news website. hello. i am alice with the ketchup. tonight, tiktok may launch an ad free subscription, and beside a double rainbow. first, rishi sunak says he won't be forced into a premature decision on the future of the high—speed rail line connecting london, the midlands and the north of england. the line to leeds has already been scrapped, and now there is reports of the track from birmingham to manchester will also be cancelled because of rising costs. but the prime minister insists that no decision has been made yet. i know there is a lot of speculation on this but what i can say is i'm going to approach this the same way i approach this the same way i approach everything, thoughtfully, carefully, across the detail and making what i believe is the right decision in the long term for our country. in the long term for our country-— in the long term for our count . ., , country. some other stories now. country. some other stories novv- gig — country. some other stories now. gig security _ country. some other stories now. gig security guards - country. some other stories| now. gig security guards are illegally obtaining work licenses after attending xiaomi training courses. the bbc has gone undercover and found people teaching courses skipping out first aid, giving answers to exams and lying so people could finish sooner. planned strikes on the tube in london on wednesday and friday have been called off by the rail workers union, after significant progress in talks overjobs and conditions. tiktok is testing a new monthly subscription, which would get rid of adverts. it is said to be trying out the service in an english speaking market outside the us, but it has not said where. time now to leave you with ten seconds of weird weather. a double rainbow and lightning combined during a sunset over the great plains in the middle of the united states. what a view. you are all caught up. goodbye for now. have a good night. hello and welcome to sports day. coming up on the programme: a five goal thriller at old trafford on a famous night for galatasaray in the champions league as manchester united lose again. out of the china open — the top seed carlos alcaraz is beaten byjannik sinner. we will tell you who awaits him in the final. and you'll hear from the bbc greens sport athlete of the year as australia captain pat cummins tells us how he's trying to tackle cricket's carbon footprint. it's one of those things that, you know, no one's ever going to be perfect, but i think everyone could do something a little bit different in their life that might make a big difference. welcome along. thank you forjoining us. it has been a night of drama in the european champions league. manchester united's return to the competition continues to be a miserable one.

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