weekend and tourism could suffer. making the case. struggling commodities trader has hit back. thetings cut is not in cards. you can let us know by following me on twitter. and of course, don't forget to include the hashtag career let's go for a look at the markets. juliet: we are watching about hong kong and china. a switch out. shares doing quite well. seng, following to an eight-month low. .he buyers moving back in the hang seng up. fairly flat.

we are seeing weakness in malaysia. the ringgit wayne on stocks. jakarta coming up online after the holiday yesterday. good gains coming through. let's have a look at some of the stocks we are following this morning. yesterday was the switch. today, a difference as buyers moving back in. today, tianjin affected by the deadly blast. uighurs today, down 3.5%. essentially a switch down. more evidence that the haverty price downturn may

turned the corner and is on a steady recovery. stephen engle has the july numbers. numbers new prices rising in more cities than they fell as the recovery really strengthens new-home prices, rising and 31 out of the 70 cities. and they fell in 29 cities and were unchanged in 10. it has turned the tables. more cities seeing price increases then declined. declines. had four interest rate cuts since november and incomes had been on the rise on the back of the stock market surge. it will be interesting to see if the stock market plunge has an

effect on new-home prices. month over month prices have butn 48 consecutive months, it was 7.1% the previous month. the previous pace of growth has come off a little bit. alsohai, and beijing, top-tier cities. the pace of price increases slowed. year over year, the recovery is taking more time. only three cities out of the 70 cities saw year over year price gains in july. 67 cities recorded declines. you.to will take a more detailed look at that story later in the show. don't forget to include the

hashtag. thaie keeping a watch on markets after the currency fell following ar low deadly bomb attack in bangkok. it is the worst in the thai capital in recent memory, killing at least 19 people and leaving more than 100 injured. haslinda, has there been a responsibility for the blasts? haslinda: no one has claimed responsibility. it is tonment says create unrest. in 19 desk and 120 injured. it went off during rush-hour in the heart of bangkok. a popular area with locals and tourists. where you will find luxury malls and hotels.

it is a key spot for political protests in recent years made in 2010, supporters of the ousted leader filled the intersection and it led to a military crackdown. we are seeing reaction in the markets on the back of that. smacked,ncy getting among the worst in asia, down 7.5%. the attack was aimed at halting growth and towards him which is a key industry. bombing, they were confident tourism could expand the type economy. but with the blast which injured foreigners including chinese, filipinos, and singaporeans, bound to get hit. prior to the incident, one million chinese visitors were expected in october alone. that is not likely to be the case now.

all eyes on thailand and bangkok. you for that. let's take a look at some of the other stories we are watching. here is a roundup. faces -- takata faces questions about their backs. the company says -- about airbags. they say they will cooperate with the ntsb. volkswagen would add to those vehicles already over seed. they have ruptured and spilled motorists. we are watching shares of electric vehicles. shares jumped 25%. the stock has more than doubled

this year. with profits up more than 970% so far. we are seeing a bit of selling pressure in early hong kong trade today. has come outs swinging at the new york times after a scathing review at the corporate culture he built. though amazon is regarded for its forward thinking workforce, the times exposé the right it as erides it as a sweatshop where employees cry at their desks. it has created an online powerhouse whose pace of expansion makes it a darling among tech investors. shery: another story we are following is how donald trump's immigration plans may be practical. it out.

coming up later in the show, our exclusive interview with a ceo after the company's 60% share plunge. after the break, a rebound in beatss housing prices expectations. when trending business returns. ♪

turn to the spotlight on china. property prices delivering news of a rebound. ning meet is the head of china strategy. threer on year, only cities where we are seeing price increases. property market

has been the focus of easing measures for the last 16 months. starting four months ago, we see if it's -- efforts to support the market having a positive result to read for the stock market, it is not great news. it is dwindling away. shery: could it be that equity investors are pulling it out of the stock market and putting it into properties? guest: there is some movement to read are going to be attractive. terms of there being rate cuts ahead or other measures to liquidity, that story is running out of steam. the property market is back on its feet. shery: tell us about that.

the importance of this market for the overall economy. guest: the property market is the de facto bond market. also the collateral for bank lending. inn the property market was trouble, that was a big issue. right now, there seemed to be a lot of issues. the situation is better than last year. shery: is it a problem that the government measures have helped bigger cities but not so much smaller cities? guest: the tier one or two or two cities are separate. a financial asset class. if we see prices going up in cities, the government will back off on further easing measures. we are talking about

builders, property developers but also construction equipment suppliers. do you think the rebound will trickle down to them, too? we are seeing research other businesses related to the property sector may not he getting as much of a boost. guest: one thing follows another. we have evidence that the normalization of the construction cycle is happening. they arek reported -- the largest developer, they are target forat their construction starts by 20%. it is not just them. shery: we have to talk about the devaluation of the yuan. guest: it has been a mistake for some of the developers to chase cheaper financing. it is not a big deal.

overall sector earnings dropped less than 1%. in specific cases, some committees are more exposed. some of the smaller developers. ones have kept a better currency match. shery: have these developers, usually imagining their currency -- have they been managing their currency risk by hedging? guest: usually not. they are not going to let the renminbi slide one way to quickly. done. pretty much to beect the renminbi quite stable. these what happens to

developers? where should they get their funding if they are not going to hedge? guest: structurally, the outlook looks tough. developers, they get stronger. if they need fresh funding, they can draw on it. they know there are going to be lots of opportunities to buy up developments. we are hearing liquidity is tightening again. could we see another move? guest: we think so but we would not call it an easing measure. whenever they let the rent in e currency slipped -- shery: we are going to look

forward to that and see what happens. thank you so much for joining us. the stories making headlines around the world. officials say and other pilot -- recovery teams are on their way. the search was suspended last worsening weather in the area. the flight lost contact with the ground on sunday. the plane had 49 passengers and five crew. no one survived. scaling back the search for debris from mh 370. see fore been scouring more than a week. malaysia says a wing part is but the missing boeing 777,

investigators have not seemed so definite. germany has accepted that relief but ruled out a haircut. imf has made a debt relief a condition for joining the latest bailout saying current conditions are unsustainable. greeceman newspaper says needs more than $100 billion. coming up next, the thai baht a slump slump -- leads in emerging-market currencies. trending business is back in two. ♪

welcome back. the thai currency has fallen to a new six-year low after the bombing in bangkok. let's bring in simon from kuala lumpur. what is the outlook for the thai baht and the faltering economy? simon: we have seen a reaction in the market.

down 0.5%.y, bonds people will see if this is a one off event and possibly the moves if a knee jerk reaction, but we see more of these attacks, it could hit the currency even more. anry: this comes on top of expected fed rate hike. thise expecting more of emerging-market selloff? simon: people have been looking tourismimpact on the sector, given it accounts for 10% of the economy. if you see more of these attacks, you could see further declines on the currency.

rates -- theerest anticipation already stirring reaction in emerging markets. anyy: are we looking at actions to spur the economy there? simon: they have cut interest rates twice this year. if they cut again to try to stir --owth, it undermines risks undermining the currency even further. people will be looking to the fed, but only a 50-50 chance. shery: we are looking at the ringgit as well. why are they so hard hit at this selloff? trading at the lowest since 1998? ringgit is exposed to

the u.s. as well. the main thing about malaysia is it is exposed to the decline of oil prices. down to $40 a barrel. net oil is asia's exporter. that is compounding the ringgit's losses. given the commodity slump, what is the outlook for the economy and malaysia? to be seen.mains from the currency point of it view, and we have seen a huge drop in exchange reserves, which shows you there is not much the central bank can do to stop the decline. if theill be exacerbated fed goes ahead and raises interest rates. we will seek for the kleins and -- further declines and new

lows. harvey joining us from kuala lumpur. forget what you hear about television being a dying industry. neverh producers have been busier. bloomberg looked at what is driving their success. >> take one. this has been going for about five years now. wehave subtly grown and -- have been steadily growing and have large-scale productions. this is the fifth series they are filming. the tv industry in the u.k. is buoyant. we have benefited from the high end television tax incentive the government instituted.

we are in a fitting from u.s. shows coming to the u.k. to film. we have great shows exported and it should not be a surprise they are so well received. game of thrones, sherlock. we should be really proud of them. i think the move on the bbc to amazon, we knew it would have a life after the bbc. there was the-- all that happened, it was rather a miss. how people are watching television is irrelevant.

it is all about storytelling and entertaining an audience. takes thedience information and watches it is the most important thing. it is not about whether it is going to be shown on a digital channel. coming up next, we will whatat why they pushed -- the devaluation of the yuan may mean. has become a believer in an economic maxim called the impossible trinity. you are watching "trending business." ♪ the only way to get better is to challenge yourself,

and that's what we're doing at xfinity. we are challenging ourselves to improve every aspect of your experience. and this includes our commitment to being on time. every time. that's why if we're ever late for an appointment, we'll credit your account $20. it's our promise to you. we're doing everything we can to give you the best experience possible. because we should fit into your life. not the other way around. ♪ ♪ ♪ get excited for the 1989 world tour

with exclusive behind the scenes footage, all of taylor swift's music videos, interviews, and more. xfinity is the destination for all things taylor swift. shery: these are the top stories trending this hour. china's home prices rose in more cities then they fell. july in prices rose in 31 cities of the 70. thees were spurred by easing of mortgage policies and the lowering of down payments or some a buyers. -- for some buyers. at least 19 people were killed

centralplosion in bangkok. it happened in an area that is popular with visitors and local people. chinese and filipino tourists are among the dead. the blast is a further bloat the economy which contracted in the second quarter. fallen, baht has reaching the lowest level since 2009. investors are staying loyal despite shares plunging. accusations about accounting practices. speaking exclusively to bloomberg television, the ceo said misconceptions have been addressed and the share price is onn mainly on the slump commodities. let's go to juliette with a look at what is moving the markets.

juliette: we are seeing a comeback in the shares in hong kong. the hang seng up. showing that foreign investors are moving out of china shares in hong kong. we are seeing weakness on the shanghai market would root -- market which was high yesterday. malaysia week on the following ringgit. jakarta coming back. mixed movements in other parts of the region. japan a little weaker. australia pretty flat. new zealand doing well. wanted to show you some of the major stocks we are watching. earnings out in the region. spoke to the noble ceo. the noble group in singapore doing well, up 3%.

the ceo mentioned court investors remained with the company. in australia, shares weighing on the overall market. one of the larger companies making up the afx 200. index,n, on the topix this is one of the biggest winners in asia. up almost 16%. a company that designs and manufactures commercial machinery. up 17%. also raised its four-year forecast. let's quickly have a look at the thai baht. online ins coming half an hour. the thai baht has fallen to a six year low against the greenback following the deadly blast in bangkok. little change this morning but

we saw the big slump yesterday. with the thai baht f alling. propertyt's talk about prices in china. rising in more cities than they foul, indicating the real estate slump may have bottomed out. stephen engle has the july numbers. seeingong are we the figures? stephen: it looks like the slump has probably come to out. out.ttomed we need to see if the crash has a residual effect on spending prices. prices slowing a little bit. so many numbers. existing home prices. want to break it down. the bottom line, the headline is, more cities saw new home

softbaaw fall. a better indicator of trends. there is weakness coming from significant numbers. out of the 70 cities tracked by the government, 31 saw price increases in july month after month. sawpposed to 21 that declines. that is basically a flip from the previous month. saw 10 cities with unchanged prices. there are so many numbers to go through. shery: it is a little bit of a different picture in the long-term. shenzhen, beijing, all saw price increases. residential new

apartment price increases of 23%. month over month, they have seen increases for eight straight months. leading the recovery in home prices. shery: affordable housing, a while ago, what is it you are hearing about the means of dollars being embezzled? stephen: affordable housing is a huge push by authorities. many people feel they cannot afford a home in their city. 1.6audit office saying billion u.s. dollars of the government allocated money that was supposed to be used for affordable housing was siphoned off and embezzled by contractors, government officials. either to invest in the stock market, to pay off debts, to pay off operating costs.

the kind of clashes with government efforts to control property prices. also crackdown on corruption. huge scandal we will hear more about. another big story in china. the push to devalue the yuan. of the seen as a sign so-called impossible trinity model. bloomberg news economics correspondent joining us for more. explain what is behind the impossible trinity and how the freer currency might help. about howheard a lot low do you want to depreciate. a third angle, it frees up monetary policy.

to tryhem an extra tool to control the flow of credit. a freer exchange rate, it plays the role of stabilizer. helps. of shery: what does it mean for the nearer term? we are hearing of the liquidity crunch. are we expecting more rate cuts? edna: it is always a possibility. there is a lot of conventional monetary policy interest rates. they can cut interest rates. the question is more about how much traction the interest rate cuts will get. they have cut them four times since november. i don't think they got the return they would like. the rate cuts can be relaxed.

hasy: we say that the pboc foreign reserves, but we are seeing reserves dropped $40 billion a month. is going to be pretty expensive. we are talking greek bailout terms at this stage. we do not know how the pboc will go forward. we don't know how far they will let the yuan depreciate. do offset they needal outflows, they will to spend on the reserve side. that is one to watch. shery: how much they are willing to burn through. with the latest on china and the impossible trinity. you can get more on that story

with bloomberg plus on your mobile or tablet. let's check in on other stories we are following this morning. than 530l of more aussie dollars. qantas will have exclusive use of the terminal. airbus is developing a new version of the long-haul plane that will allow singapore airlines to fly nonstop to the u.s. by 2018. it is putting the jet on a diet and making changes to the cabin layout. they stopped the direct flights to new york and 2013 because of rising costs. airbus says the plane will be able to use 25% less fuel than previous models. medical devices

have been warned by the u.s. regulator for failing to report problems. they have not insured the devices can be cleaned adequately. a are used in medical procedures each year and there are complaints that they resulted in spreading deadly bacteria that resulted in superbugs. and --ralian court shares of an australian port operator are up. almost 9 billion australian dollars? what are the details? paul: this is the biggest infrastructure deal in australian history. this is also they are largest

deal, 8.9 australian dollars. ateffectively values them nine 15.hare value of if the deal goes through, a pay a will special premium. joint press conference where they pointed out the job is to sell this deal to shareholders. >> we believe this is an ianoactive offer for asc shareholders. owners will receive a price premium. shareholders who share our positive long-term view of the business.

paul: it goes to a shareholder vote and they need 75% approval for the deal to succeed. what other hurdles need to be cleared? paul: the other key one is the foreign investment review board. they have a bit of a track record for not approving deals. two years a deal was not backed because grain corps was considered essential if a structure. stamp is by no means guaranteed. the market likes the news. shares up more than 7% this morning. it might also have something to do with the earnings announcement. profits up 41% for the year,

underlined impact, for $14 million. 414 million. next, making up the case. noble looks to reassure nervous investors after accounting concerns wiped out half of the share value. business" back in two. ♪

shery: a commodity trader has been on the defensive for months. our exclusive interview with the ceo. first, here is a reminder of how the drama has played out.

noble ceo joined our southeast haslinda apondent min. addressed all the misconceptions about the firm. this is the first time a company has an event like this open to anybody. it was open to anybody who wanted to attend. haslinda: it was something you had to do. investors were losing confidence. >> if you look at it, and we showed this in one of our slides. stock inrmance of the the last 18 months. you compare it to other players in the commodity space. it is consistent with other players. that has had an impact. between the event we did which any the review, professional would say is

extensive and detailed, and the presentation we have put on our website, which is 150 pages going through every aspect of our business, i think any professional would say we have addressed all of the misconceptions in a transparent and open way. theinda: you take a look at credit agencies. they have cut your outlook to negative. they are not buying into this. they are concerned about your credit worthiness. yusuf: if you actually read the announcements by moody's and s&p. investmented our grade rating. we have been in this situation before and we have come back from it. we are the only major competitor that is investment grade. many of them are private firms or do not have a rating at all. we are the exception.

to thatwe are committed in investment grade and will do what is required to maintain it. haslinda: you have maintained you are unique. you are the only committee with a credit rating. doesn't make sense to do that when there is so much transparency needed? do you want to remain a listed company? does it make sense for you to go private? yusuf: there is a debate about private orhavbe a public committee. the easy answer is it is easier to manage a private company. but i would say being a public company has served the firm well. >> time now for a check of stories around the world. the thai prime minister says security officials have identified possible suspects behind the bomb attack in the center of bangkok.

they are also targeting people suspected of spreading false information on the internet. the prime minister promised the suspects would be arrested and interrogated. reports from sri lanka say the former president has conceded the feet in the general election. he has failed to win and off prime minister. his successor said the vote was the most peaceful in the country's history. developmentrt recovered a small amount of losses. blast killed many with more missing. shares are up 1%.

and a south korean businessman says he wants the top job in world soccer. honorary vicea president. he says what the organization needs now is common sense. the former president sepp blatter stepped down after accusations of corruption. next, primeg up driveer modi's investment yields results in the middle east. we will be live in mumbai. ♪

you are watching "trending business." the indian prime minister

wrapped up his meeting to the emirites by announcing in investment fund. reporter: a multimillion dollar fund to invest in infrastructure projects. india is eager for foreign capital and technology to develop its economy. once investments to diversify its economy beyond oil. railways, ports, and other projects in india. it does not give a timeframe.

or describe how the fund would be structured. a joint statement said the uae strategic develop petroleum reserves in addition to upstream as well as downstream petroleum sectors. between both countries is $60 billion, and india is the second largest trade partner for uae. they want to increase that over the next five years. they pledged cooperation developing and launching satellites as well as the peaceful use of youth their energy. nuclear energy. in conflictave been against islamic militants ended they will increase corporation in the region. shery: makes a lot. on the visit of the indian prime

minister to the uae. stay tuned for asia edge. lgt capitalday, partners. you are watching bloomberg television. ♪

. mark: with all due respect to the presidential candidate, there is only one sure way to get to the top. [laughter] ♪ welcome to the iowa state fair, where john and i have been in the state ends thursday to talk to voters here and around the state. we have learned a lot.