it is just a question of whether saudi arabia -- saudi-china's oil companies or other state investment firms want to put money into an oil company while we are seeing valuations around the world plummet. including those of china's big three. petro china, sinopec. thanks so much for joining us. let's get a preview of what to watch for markets later on this morning. sophie? sophie: this wednesday, xiaomi third-quarter results. day two for alibaba in hong kong. tencent bumped down to second place as hong kong's most valuable company by market cap. investors waiting on the sidelines for now. seeation decline could alibaba narrow that gap with tencent. there is the expectation alibaba will be added to the -- overseas funds are piling into chinese stocks. tuesday march the largest net by for foreigners since 2016. msci rebounding. a key data point this wednesday is chinese industrial profit. the pressure on mainland factories seems not to be letting up. falling for a third straight month. deepening deflation in the manufacturing sector is also a drag. prices fell 1.6%. declining profits will