isnese bid for the yuan backed by the u.s. timing the currency is the longer overvalued. washington may not agree. if you want more on trending news i am on twitter. we will get over there a little bit later, but yvonne is here with what else is going on. yvonne: look at the map, it doesn't look very good for asia. aboutlume has been down 34% -- i should say 21% below the 30 day average. trading down about three quarters of a percent. this is following the losses we saw in the u.s. overnight after we saw better than expected u.s.

data that came out in terms of consumer confidence and housing prices as well. equities do tend to fall with strong data. the dollar has been strengthening against the yen for quite some time. athit that eight year high 123.17. quite a bit of an upside for the dollar against its major peers. oil getting more pressure. the 63.91 area. this rebound in the year to date has been impressive. pretty much stalled right now. in china, this is interesting. you have to look at the holdings. down 29%, what happens here with

the stock? x propertyng on the assets. now. i'm 117.70 right guessing this is part of the restructuring of the company. foxconn has developed 10 to 12 properties in india by 2020. golden properties, we have an watching all week. back up at about 5% after plunging 40%. no reason for these moves according to stephen lohan. the stock has evolved for quite a long time tumbling more than 40% thursday with no explanation.

about calls from investors for more regulatory oversight. junior now airlines jumping 44% on this debut. company raising more than $44 million and the share up about one billion. give us an idea of the history of junior now -- of juneyao. reporter: and has been quite a performance. 2000 -- inin 2006 in 2006 by that line brothers. -- by the lang brothers. they are buying

more air buses to add to their --et and to spare engines two spare engines. the big question right now is will matcheyao air the breathtaking gains made by spring air in january. kind of a jump through time to the original ideal price. investors certainly hope so. i just spoke to an analyst who said june is likely to match spring whether or not the chinese bull market continues. he said that investors like new spock's -- new stocks and with a new stock prices can buy regulators at a particular level and they would be eager to get it up to speed. brothe brother -- wang

rs, this is a milestone for them. extending with china. looking to extend civil aviation. rishaad: thank you very much. thank you for joining us from beijing with juneyao coming to the market. china withlice of boone stock indices. a long list of sales coming up. could lock up something like trillions in cash. reporter: the just of the story -- gist of the story, looking at 23 companies that will be raising money starting next month, which is next week. ipo'sn the 23 a share we're looking at 23.5 alien

dollars -- 3.5 billion dollars. expect $790 billion to be locked up between when the money is raised and allotted. this batch is fairly skewed compared to the may batch. one of the massive listings from china national power, $2.2 billion, about two thirds of that $3.5 billion that i just showed you. return expected. you go back to this liquidity or potential problem with liquidity, it won't necessarily it may well have to do with everything if and when it happens. i think it will be trickier to navigate.

, we alsomore on that want to know your thoughts, tweet us your thoughts using the hashtag, trending business. here is ros, with a roundup. a major move in its bid for currency status and that it is no longer undervalued. there is an imf review of the situation in october. the market is reviewed every five years. dollar, euro and british pound are in that basket. the imf says china should aim to achieve a floating exchange rate in three years. aing fully usable is

prerequisite to being in the basket. you should see about $1 trillion switched into chinese assets over the next five years according to an estimate. charter communications has confirmed it is to buy time warner cable. they are spending about $55 billion. $100 and $115 in cash and the remainder in stock. time warner cable at $78.7 billion including debt. for china -- charter that means getting customers in l.a., new york and dallas. them to 17st million, second to contest. that larger subscriber base is likely to help them get more coverage. this is charter's second go at buying time warner cable. offered $132 and

$.50 per share -- $132.50 per share. rose, closingares price,wer than the offer signaling possible concerns of regulatory approval. the fed chair janet yellen is planning to miss the symposium the summer. the annual wyoming meeting of policymakers and movers and shakers from around the world. is not the first time a fed missed the event. on in the program this slowdown for demand and luxury cars has been felt as far away as india.

>> malaysian forensic teams have exhumed bodies from shallow graves. many graves have been found -- havemilitary aircraft joined the search with thousands more refugees thought to be stranded at sea after being abandoned by smugglers. indian officials say more than 1100 people have died in an early summer heat wave. temperatures have been recorded in the southern areas and as far north as new delhi. most of the dead were elderly or people who worked outside.

reporter for the washington post has gone on trial in iran. jason has been in custody for more than 10 months and faces six years in prison. to the public but offered no other details. he is one of two photojournalists arrested last july accused of working for the u.s. government. rishaad: a look at macau for the moment. investing in the future of asia's biggest gambling hub. unwrapping phase two of its plan today. bloomberg has been given a tour of the new ritz-carlton. >> the last three major openings drove a surge in business. galaxy entertainment is hoping for a repeat performance.

partnered in the development building the biggest jw marriott. ast of a long-term strategy macau develops from a gaming hub to a world destination. >> we say if we are not in macau our customer will use others. >> the competition agrees. casino operators are building at record pace. is expected to launch later this year with mgm, sans and others planning openings for 2016. from about challenges china cracking down on excess. the ritz-carlton says demand is already strong. >> as we have a new product we will be most likely displacing some business from other hotels. 89% to 91%ing at

occupancy. we have a wide future. hotels and a new room shortage which has contributed to the slump. overnight visitors spent five times more than daytrippers. it is part of the rationale. designed to appeal to higher and chinese customers -- higher end chinese customers. >> because you have a luxury customer to stay a few more days, when you have a cd hotel -- a seedy hotel they state two or three days that we were looking at four to five days. they use all of our facilities. food and beverage. the spa. they don't want to go anywhere. reporter: with billions of dollars invested, macau's casino

industry is counting on it. a major test for macau's most important industry. 150 gaming tables is a lot of new tables coming on. will this be a problem? >> it has been a hot topic for debate. we think it is an ok number. 500, but if you look at the last resort that opened, they asked for a very large number and they got 200 but actually had 360-odd tables by the end of the quarter because they managed the portfolio of tables around the property. galaxy will be able to do the same. rishaad: taking an optimistic point of view what is the all case -- bull case for galaxy? >> it is about a market starved

for something new and additional capacity. it has been a market running at almost full occupancy i hotels. -- by hotels. every time we have looked at a new resort open over the last several years, we had surges and revenue growth over the following six quarters. significant revenue growth. case is the same thing happens here with galaxy and studio city. there is a clustering effect that helps them and everybody else. rishaad: what could go wrong. bearus the their case -- case. >> the biggest factor on the bear side of the argument is timing. this is coming when you have anticorruption, spurring and aversion to conspicuous consumption.

a smoking ban that hit the mass market and is likely to extend to the ip. you talk about stock markets program, that is a frenzy for some chinese right now. those are issues. for galaxy specifically, it is a question of, is this enough? it is not a brand-new big thing like studio city. all in all, those are some of the key issues. rishaad: [indiscernible] there may go. that is an invite to this afternoon's opening. >> enjoy it. rishaad: up next, taking puppy love to new levels. ♪ rishaad: the american technology

company misfit was founded in honor of steve jobs. to misfit'se spoke justin butler. >> we have an lucky enough to to make ath sarao ski

beautiful version of our shine. we have two versions of it. this which is a standard china, still waterproof with six months battery life. we've made a great technical innovation where we have a solar powered version. it has a solar cell underneath the crystal to power and definitely with a couple hours of light per day. reporter: what other partners in asia are you seeking right now? one of a meeting with their first meetings. we are not working purely on code developments right now. reporter: will you? >> watch that space. xiamoi has a great business model and we are trying to do something very similar with our products. reporter: you'll have two wrists. and my generation once a regular

timepiece and something special, maybe on this on the wrist. i used the jawbone for a while and then it ran its curiosity course. what is next? >> the wrist is very valuable real estate. we see that with the launch of the apple watch and a host of other products. we think there are a lot of -- placess you can you can put sensors beside your wrist. even beyond your body. your car or your home or other places in your life will provide that insight about what you are doing and how we can make that better. reporter: i believe this is a color switching led smart pulled? -- smart bulb? you have stiff competition, why would someone fork out $50 for a smart bold from you? >> it is a good question.

when we looked at it from the sleep angle. one of the best ways to have a great sleep is to wake up feeling refreshed. one of the great ways is to not have your arm -- alarm blaring in your year. -- in your ear. if you just need white light go down to the store and buy a two dollar bulb from ge. see the value of other lightbulbs. if you're washing machine is done you can have your lights change to green. there are a lot of other additional functionalities light becomes them providing illumination. rishaad: let's have a look at what is trending on social media. >> i am taking a look at twitter in china. we know that twitter is blocked in china but here we

have the vice president of operations for twitter, extolling the virtues of using twitter. so far, so strange because we know you cannot use it in china. what he was saying was chinese companies can use it to extend their audiences the on the borders. without talking about or addressing the fact that the service is locked in china, he is embracing the fact, recognizing you are blocked in china but you can still get chinese companies to use your services when they go beyond the borders of china. addressing that he also didn't mention it either. i am looking at a very expensive chew toy. this dog has his own account.

richestgs to asia's man. he put to apple watches on his dog and comments have been critical with these signs of extravagance and people have been saying it is vain and others say they wish they had one. so it depends how you look at it. could be photoshop tour having a little bit of fun. up, abandonedg and neglected but potentially worth millions. london looks to revive some of the ghosts of its past.

rishaad: a look at our top stories. the chinese budget airline juneyao has soared. or $2.51mping to 16.11 . companieshas seen 147 jump to maximum 44% on their first day of trading. china says their currency is no longer under valued which contradicts washington's

assessment and makes the case for yuan to be granted reserve status. the imf says china should aim to achieve and effectively floating exchange rate within three years. lower families and tourists -- lure families and tourists. adjoining properties which include the jw marriott and ritz-carlton hotels, luxury retail stores and fine dining as well as a 3000 seat concert theater. tokyo closing up for its lunchtime break. >> not a good picture here today. lucas says there is real nervousness in the market right now and at this point may be possibly seeing an exhaustion

point where equities keep going up. when are you going to see it go down. let's look at the dow up .5%. shanghai up a fraction of a percent right now. seng index here in hong .4% after the index climbed to its highest level yesterday. a little bit of a downside here. venturesweek, chinese opening new accounts last week. i want to mention over here on the yen and yuan as well. an eight weekto low and retreated from a

seven-year high versus the yen. you can see a little bit of the yen appreciating on the korean yuan on the day. there is speculation that korea will intervene by selling currency. i want to talk about these movers. , zijin one to watch mining. 'sares in poppa new guinea mine and separately a 50% stake in ivanhoe's copper project in the congo. communications construction, kenyaare some reports of in talks to extend its rail links. shares down right now by .7%. , continuedpace

weakness today, shares down. playmaker, ononly course for the sharpest drop since november because the major shareholders plan to resume the sale of this 40% combined stake in the company. two years ago they abandoned that sale and talks resuming again with shares down 5%. analysts expect it will lock up $800 billion in cash. this has been a fantastic run for chinese equities. if you could answer that you would not be standing here. >> i would be in a corner office with $800 trillion under management. just kidding. what is different about this

coming june is we have had a lot of ipo's coming to the market. the amount of money that is amount ofed in the money expected to get locked up will be the highest so far this year. early june, 23 a-share ipo's looking to raise $3.5 billion, that is a range. the peak squeeze as analysts call it will be between june 2 and june 3 am a very early next 3, very early next month, or in fact, the week and as much as $800 billion could be drank from the liquidity pool. yesterday you had the chair sales -- share cells from the whitey. -- from byd.

does it take money away from secondary markets? what do we have here? cicc. that is china national and nuclear power. this big power producer. two thirds of the 3.5 billion will be locked up in this. i think everbright was the one to take it. rishaad: we are seeing some major changes in major indices tracked by money managers. into tworoup emerging indices. a look now at what it is actually doing. >> the mainland shares are actually accessible -- are not actually accessible fully to foreign investors which disqualifies them. foreign investors have to go through the stock connect or have special quotas.

ftse isie is taking -- taking special steps. rishaad: the question is, why now? >> the timing is interesting. it comes just before they announce whether chinese shares qualified for their global index and it comes after china took various steps. in november the mutual recognition of funds and the stock connect. rishaad: what are people telling you about the overall ramifications? >> there has been a lot of debate around this because of the implications and the impact it would have on all the funds that track the index. investors last year didn't like the proposal. because of the accessibility issues.

index providers are really careful. let's check in on some of the other stories. paying $65 million to settle a u.s. inquiry into claims that it misstated its accounts. overstating the derivatives were foiled by more than $1 billion during the financial crisis has agreed to pay but won't admit or deny any wrongdoing. under investigation for violating u.s. sanctions. japan's bankrupt skymark airlines facing further turbulence. local media is saying that skymark's biggest creditor, intrepid aviation is prepared to reject ana's involvement. skymark must submit a recovery plan by the end of the month.

apple reportedly could sell its first yen bonds next month. sale could total ¥200 billion. we're going to look at what is going on beneath the streets of london. dozens of underground stations that have fallen out of use. london is looking at stationsing these good . rposing these good stations. >> we are underneath the streets of mayfair in a station that has not been used by any passengers since 1932.

in 1907 and opened was never particularly popular. it was closed in 1932. war, this is where the railway executive committee was based. this is a station where in the early days of the war, this is where churchill's cabinet met. >> winston churchill goes out to see for himself if there is any unrest. >> this is a unique space in london, great location and great history. we are looking to bring it back into use so we have set about a competition where we are looking forward for people to come with ideas. we have six or seven disused stations that we could bring back. we want to get all weekend from bringing this one forward and

apply those learnings to the rest. this isn't about making money. we have many more valuable assets elsewhere. this is about ringing great history and location back into use. we will be judging bids more on the quality of bids than the value we extract from it. to make somect money but only over five or 10 years. >> think it is fantastic because potentially you could have restaurants and high-class retail or art galleries. gigs andes, performances. given that it is in mayfair, it could work -- if it could work anywhere, it could work here. rishaad: could a major chinese

player the dialing up interest? we will investigate that turning businesses -- "trending business is" back in two minutes. ♪ >> china is expanding its naval

presence defending its claim to disputed islands. it must and large what they call active suspense strategy adding overseas protection to the offshore operations. to rewrite the constitution to allow wider roles. begun one of the largest air force exercises in scandinavia amid rising tensions with russia.

moscow first started its own raid. termedpart in what is tactical exercises. at least 16 people have died in flooding in oklahoma and texas. firefighters in houston had to carry out 500 water rescues. withity is underwater thousands of drivers forced to abandon their vehicles. that left hundreds of nba fans trapped after a playoff game. you will get now to the the cofounderence of micromax, the second-biggest in india, and the 10th biggest in the world. great to have you on the program.

i want to start with what everybody wants to know which is whether alibaba is seeking a 20% stake in micromax and according to other reports that you want $1 billion for it. what like can you shed? guest: i think the whole investment environment in india is wonderful. get offers from strategic partners who are interested in being a part of micromax, but what we're tried to do is figure out who should be the best partner. as we move forward we will be back with the world picking up in terms of where we come from. rishaad: are you denying that alibaba once 20% of micromax? said, we are being

offered multiple options and a us of the players talking to at a strategic level are if a partner is interested we would be interested in talking further. at the current stage there would be no confirmation i could give. -- you: let's talk about are telling the press not too long ago that you wanted to raise funds for developing locally focused software. how much money do you need to raise in order to do that? at quite are looking lot of investment -- when i last spoke it is all about experience

for us and we are looking at giving an experience which is a combination of software and hardware. put in different investments. these are startups as well. what are you doing as a mobile phone maker and supplier? come for theme has mobile forum will be one more hardware device. long-term would be the delight and experience we are hardware ande the experience. that will bring a long-term brand loyalty.

time we talked, you said you had this aim of trying to build more and make what is then india, status -- doing as we talk we are 33% of our production and about one million units that has been shipped off. the further plans are basically providing geographical delimitation from any vertical part of india. among a combination of three setups we should get a large part of sales produced in india. rishaad: one of the phones that you have on sale is a high-end line called yu. how has that phone been doing for you and how does it it into -- how does it fit into the

spectrum of smartphones? guest: that is an attempt from our side, we talked about how we will bring the consumer together with the brand not only by hardware acquisition but getting an intended -- continued experience. as well as the apps that cowrite and give the consumer the light of when he just reaches the internet. rishaad: let's talk about the number of smartphone makers. of them, dorofusion you think there needs to the consolidation amongst the hardware suppliers such as yourself? rishaad: i think the indian mobile phone industry has a lot of flirting going on and as it matures we will see steadier

relationships. rishaad: thank you very much. the cofounder of micromax. profit as plunge in demand hits the brakes in china. some reaction in mumbai. ♪ rishaad: when trading begins in

mum bite later trading expected to fall further. what is going on here exactly? reporting a whopping 15% drop

in profits yesterday. the company said it is expecting mixed economic conditions in china and other emerging economies to weigh on martin's. -- margins. earnings in recent years held by a fifth. the chief executive officer has said that the auto industry is struggling. sport and ther jack wire have seen -- jaguar have seen good demand. [indiscernible]

on a standalone basis, losses have widened but revenues jumped 20% by improvement in the commercial vehicle is this. the out -- business. the outlook looks a little weak. on the back of week economic indicators. rishaad: [inaudible] >> just because a company serves -- company's services are blocked in china doesn't mean it cannot function outside of it. we are talking about twitter. the vice president of operations taking to the stage and

encouraging companies to use it to reach world audiences. media has twitter accounts to try to address -- this dog has two gold apple watches. that go for $10,000 to $17,000 each. dog are critical of the saying it is vanity and others saying that they envy the dog's lifestyle. back to you. thisad: that is it for midweek edition of "trending business." we will be recapping the big stories of the day so far including the technet

conference. ceo andus is the cofounder talking to shery ahn. 30 minutesn about from now. ♪ .

john: "with all due respect" to jeb bush and president obama do us a favor and leave our show out of your petty disagreements. >> with all due respect, mr. president, you're just wrong on this one. ♪ john: happy national blueberry cheesecake day, sports fans, and our tv guide tonight, jeb bush's little house in the kennebunk work compound, twitter's version of cop -- of