reward, the president buys a big chunk of stock. he says he is looking at the future with confidence. do follow me on twitter. let's go straight to the markets, as far as hong kong and shanghai are concerned. . juliette: we are seeing the asian region follow that downturn we saw in europe. clear back of those indications that will be a rate hike in september. of course, that oil price and a 6.5 year low. s&p down by 1.6 -- 1.26%. in shanghai, the market down 1.5% following a big rebound we saw coming your yesterday.

kong worth noting in hong the shares are continuing their decline. we are seeing what is called a cross on the into price index, that is for the 50 day moving average has crossed below the 200 day moving average. we could see more pressure coming through on the h shares. i also want to focus on the malaysian market because it is down by 1%. it is really been weighing on malaysian stocks over the last couple of weeks. we are the index down by one percentage point, its lowest close since june 2012. health care is flat, but lower in malaysia. we of weaker oil prices really way on malaysian stocks. we going back to profit announcing a for your result, paul allen is in sydney

and he joins us now. these are the strongest earnings sent alan joyce took the helm seven years ago. paul: that is right. fors a very good day qantas. they have aided significantly by lower fuel costs. it hasn't been, -- still no dividends, they didn't announce a capital management program in which certain cash will be returned to shareholders. alan joyce did defend the decision not to offer any. >> it is a very volatile market. a range orve

forecast given the large element. we believe what this transmission program does is that the business can sustain its performance. this strong result allowing qantas to renew its fleet. it already has one of the youngest fleet in the business. it will finally take up the option to purchase some new 787 dreamliner's. they will be buying eight immediately for delivery with an option to purchase another. i have been coming her for -- here for a few years, and i haven't seen him that happy. rishaad: crude is at six-year lows.

an unexpected increase in u.s. stockpiles. what happened here? aaron: the big question is how low can oil go? it will go to $40 a barrel, $30 a barrel? there are a lot of different estimates out there. citigroup said it could fall as low as $32 a barrel. others said it may go between $30 and $40 a barrel. what is driving this is a global surplus. analysts estimate that is anywhere between 2-3,000,000 extra barrels a day, that is we ighing on prices. even though prices are less them what they were a year ago, producers are still pumping as much oil in 30 or 40 years. u.s. supplies are 100 million

barrels above the five-year seasonal average, so clearly that is weighing on prices. the other part of the equation is opec, they change their strategy late last year to defending market share. to do that, they are pumping at record levels. that is being led by saudi arabia, and iraq. they are defending market share for the big customers in asia -- particularly china, and india. sanctions against iran may be lifted soon, and they promised they will boost exports as well. all of those factors are weighing on prices. ofh iran, there is not a lot bullish factors to look forward to. rishaad: thank you. that extended fall in the black stuff we looked at their. glencore talking about

because it slumped to a record low after this eeo -- ceo admitted no one can we the chinese commodity market right now. shares closed 10% lower in london. ceo said demand from china has been weaker than anyone had expected. reported a 56% fall in first-half profits and cut earnings forecasts for its trading division. the are going through strongest headwind since the ipo four years ago. stalledcrackdown significant projects. it is reducing debt in order to maintain dividends. let's take a look at shares up the president made a

half-million dollar personal bet on the company. she may succeed the founder. that would make him the largest shareholder after the son. increase credibility in investors eyes as he overseas expansion. softbank has acquired 44 million shares of sprint in nine days. prices and purchases list more than 42% since the start of august. that adds more than $5 billion to the carriers market. they may not be done just yet, the expected by more sprint shares. story to talk about, japan's seniors are giving up driving.

it is a headache for retailers want to tap the purchasing power of seniors. the effective something called shopping refugees are people that don't have a car and live more than 500 meters from a supermarket. this could be 7 million people, even a bigger problem in the countryside. some countries are delivering popular items such as rice balls and sandwiches to homesick community centers. economists say that is no easy fix to this. one option is to have senior citizens would normally get travel discounts to put in money. up, the indian billionaires making a move into banking. banking with a difference, like in by -- mumbai. says theto guest

malaysian issues are to stay. ♪

rishaad: currencies in asia tumbling. our next to guess has the rmb forecast in light of the shift in the exchange rate. the number two exchange forecaster. he joins us now from singapore. let's start off with the rmb devaluation. the other part that came in isterday, combined together, it just more misery being heaped on currencies in asia? >> i think asian currencies will come under further pressure. already we expect the fed to despite aptember,

more cautious turn seen yesterday. even if they don't go in september, it is quite clear they will move sometime this year. that will put the dollar understrength, and put pressure on asia. china's move last week is also a game changer. it had been stable, and it served as an anchor for the rest of the asian currencies. the anchor is gone. continue toem to come under depreciation pressure. we think the authorities will no longer spend and maintain a stable currency. they will let market forces play a greater role, that means a greater decline in the yuan which will spill over into the rest of the asian currencies. rishaad: quite a lot of this will be done to dollar strength, is it not? strength isr

definitely one element of this. but let's not forget, as well, it is not just policy. we are also seeing growth as well opening up between the u.s. and asia. for a long time, we were used to emerging-market -- market growth exceeding that. the economic growth is picking up, it is spectacular. we are getting some disappointing growth and asia. exports across asia have contracted, the only exception being in vietnam. they are experiencing a trade recession, in that environment it is not just dollar strength. it also suggest asian currencies need to weaken. rishaad: let's take a look at some of the winners, and losers. clearly the biggest loser has been the malaysian currency. it has been devaluing for a number of factors, including declining trade, and commodities

falling, and political instability. do you see further weakness there? khoon: i do see further weakness. the fundamentals are not that bad, the problem is that the market is not paying attention to the fundamentals at all. the domestic political scandals have really taken over, and sentiment is so bad that foreign investors are having to lose some confidence. that is putting pressure on the ringgit. ofo due to the lack confidence in their own currency, they are starting to pull out as well. it comes off, the balance of flow, evenly so want an account surplus, there is more capital that has been going out. that is putting a lot of pressure on the ringgit.

it'd be interesting to see what could turn sentiment around for the ringgit. is heading below $47 a barrel right now, that adds more pressure. rishaad: this is not the only currency feeling it. -- it is theout lack of progress on reforms, but then again in terms of trade, what's going on? indonesia,he case of they're one of two countries in the region still running a deficit. that puts the currency under more vulnerability. attempted trade shock, stalling in terms of the reform efforts, and slowing growth. all of those a very negative effectors.

it is not surprising that the rupiah continues to deteriorate. in terms of major currencies, i think the aussie and kiwi are forming the base. the kiwi will be how prices behave. they look for a bottom. they could have decent play around here. the sterling looks like one that could gain against the u.s. dollar given that the bank of england is likely to be the next one to hike rates. they will provide some support. rishaad: thank you very much indeed. juliette: stories making headlines around the world, an arrest warrant issued for a man

in connection with the deadly bombing in bangkok. they say he was part of a securityand other video show others may be involved. visitors from china, hong kong, singapore, indonesia, and malaysia were among 20 people killed in the bombing. the mayor of tianjin has apologized and except that responsibility for last week's chemical explosion. it has agreed to buy damaged apartments. the blast reportedly damaged some 17,000 residences. they say two main shareholders in the latest six company at the center of the disaster have been detained. securing on the way to a third bailout with euros on finance ministers signing off on the program. in time to pay the ecb debt, they will clear other immediate

hurdles. the deal comes after months of negotiations. lawmakers in germany, and the netherlands, approved the plan on wednesday. coming up next, no winning hand for the galaxy. more disappointing numbers, but up?things beginning to look ♪

♪ back.d: we are let's have a look at galaxy share price is down 6.5% today to a 2.5 year low. it all came in a declining market and high cost, it was ahead of estimates though. galaxy not the only casino hit by the slowdown. let's have a look at how the industry is doing as a whole. ♪

♪ sources telling us that newer motors is adding a model next march. also have the possibility of owning jaguar and land rover.

had a roughes have time of it down by 28% this year. staying with carmakers, audi is chasing tesla with a new entry into the electric car market. tesla'son the beat for range, travel is supposed to 500 kilometers on one charge which speech the tesla model right 80 kilometers -- beats the tesla model by 80 kilometers. what do we have here? enteringy that we are hangmarket terrain in the seng. it is down 20% from its peak. it is set for that bear market.

had somehai composite 25tial falls, the nikkei to just a few minutes of trading left. .6%. this comes down to the odds of a fed rate rise next month. the minutes from last month insinuating the conditions for a hike are approaching, just maybe not yet. mike reports from new york. mike: it is all about inflation now. when fed officials met three weeks ago, most judged the conditions had not yet been met. they noted conditions were approaching that point. what was missing? confidence, competence that prices would continue to move up. furtheribility of

decline to commodity prices. ed addition, several not labor markets and not yet pushed up prices. almost all members indicating a would need to see more evidence that economic growth was sufficiently strong for the to feel confident inflation would return to their 2% target. this was three weeks ago, before the latest plunge in oil and china's devaluation. at that time, some emphasize that the economy had made significant progress. they felt conditions for a rate increase as having been met, or were confident they would be met shortly. one member indicated a readiness to take that step at that meeting, but was willing to wait for additional data. there will be a lot of it between now and december 17 meeting, including more numbers

-- september 17 meeting, including new job numbers. the only thing you can really say is that a dated pendant fed -- data dependent fed remains so. inhaad: we will tell you that rate rise is coming in the u.s.. yet, up next,tive we have a look at this number. why traders are obsessed with the shanghai composite. another down day overall with the equity session across the asia-pacific. details after this very short break. ♪

♪ rishaad: asian equities on the way down. oil falling to six-year lows following unexpected rises in u.s. crude stocks. oversupply,sistent something more than 30% since this year's closing peak in june. qantas reports record profits.

it was a $1.2 billion turnaround. they are announcing the purchase of eight boeing airliners. take a look at galaxy entertainment, second-quarter earnings plunging. 'se chairman says macau gaining revenues -- gaming revenues have almost to the bottom. look as farhave a as the trading day goes. asian stocks down for a fifth day. the feds managed to sink the dollar, and oil continues it's selloff. juliette: downtte: the hang seng now the percent from its april peak.

foreign investors continuing to bow out of china mainland shares. the hang seng index extending that low. malaysia looking like it is ts lowestclose at i level since june 2012. we continue to see wild swings in china. the weaker oil price having a big impact on that asian market today, as is those fed minutes. an interestcing rate hike. we take you into some major stocks, they are listed in --ralia, you wention mentioned qantas reaching that high, investors enjoying that coming back into the black.

that weaker oil prices is affecting many producers. one of australia's biggest producers is down 6% today. big falls and glencore, a lot of selling coming through on those commodity-based players. we don't see too much support coming today. numbers china's new thousand.be 3.5 levels sewing -- showing losses will continue. >> you know, the battle that is theg on is between

government shoring up the market at a particular level while technicals and fundamentals are painting a much gloomier picture for the stock market. we are seeing china's richest traders have been pulling up to the market. we know that our capital outflows coming out of china. $7 billion worth of shanghai shares have fallen in the last few weeks. the concern is that the state is becoming the buyer of last resort. rishaad: why is that number so important? > because 3500 is the new level. they managed to save that level, yesterday was before the occasion where the index stated a sharp rebound after approaching that level. what we of scene is when the previously indicated a certain level will hold and failed we see in scouting -- we saw

accelerating losses. rishaad: the chinese index, how are they faring? what we have here is the red line and the 200 a moving average. the yellow -- the red line -- the other line is the 50 day moving average. that signifies much further weakness down the line. basically, it is a momentum technical indicator. tell us about it. >> well i -- rishaad: it can become a golden cross. >> a death cross doesn't sound great, and it isn't. how much for the market goes, these are chinese us stocks in hong kong. that is a selling signal for the market. it comes as fundamentals deteriorate in terms of the economy. corporate earnings are looking pretty bleak. hong kong, another negative

point we reached today is entering a bear market. that -- rishaad: that was in april was in it? >> yes. most of the rally has been erased since china begin the big bull market since the end of last year. it doesn't really matter -- the other thing is that there is no national team coming in to support the market. it is no 3500 level in hong kong. another change that also occurred is the blood turning more bearish in hong kong. a lot of the companies have been seeing pockets of resilience amongst the concern, as the u.s. it's closer to raising rates, concerns about china increase. rishaad: tell me something here. you mentioned, what about the

chinese -- they are getting out of there. they're getting out of the competent and the hm market as well. >> a lot of the rally we had in april wasback in spurred by speculation that the is pouring millions and billions into the connect. that whole trade has collapsed. what we've also seen is that the richest traders, more than 10 those numbers fell by 28% last month. -10 million yuan. the only ones buying have the least money, or the government. that is not a good's line. sign.ood you want to see those heading in

a different way. overseas assets will look more attractive, and we have seen that strengthening in the property market which provides an alternative to what is a pretty battered stock market. rishaad: let's tell you about -- put this data into your diary. september 30 next year, that is the earliest the imf says the yuan could join the reserve currencies. the general turn of the imf statement is pretty positive. >> it is still analyzing whether the yuan qualifies as being freely usable. that is a core requirement in usage. further opening up of foreign investment. the setting up of chinese international payment systems, among other criteria, are things

they still want to see. that is likely to be created by this november, but the imf board voted to extend for nine months the current condition. they want to limit the extent of possible disruption if the yuan is added to this basket. they lengthen the calendar, the earliest date for inclusion would be september 30, 2016. market that down. the imf says it welcomes last week's moves by the people's bank of china. them important steps in hopes the new system will allow the exchange rate to be more flexible and move around according to market pressures. after three days of depreciation, the yuan has remained fairly stable against the dollar since that last tuesday devaluation. ver news ofan fell o

this possible inclusion. one strategy saying traders probably overreacted, misinterpreting it as an imf rejection, which is not the case at this point. rishaad: let's check in on some of the other stories. australia's biggest is rightector employer in the middle of its earnings estimates. update percent from the year before -- up 8% from the year before. by 7%,arnings also up and liquor sales showing a 5% rise. the stock is near a 10 month low. profit dragged down by fuel hedging. losshad unrealized hedging

by the end of june. >> hedging fuel prices is something that more than 95% of airlines do. loss,hen we are incurring it is still much smaller. the net benefit is better. this was a major improvement over the last three years, you can see the impact of lower fuel. one company also given the heat's galaxy. the share price is 6.5% down at the moment. it is at a six week a low yesterday, and has continued that rout, earnings plunging

46%. the casino operator has been dealt a losing hand. galaxy saying the losing streak will end soon with an upturned towards the end of the year. that what ise on going on. craighead is here, galaxy is not doing as bad as some of them. indeed. if you look at the mass-market part of that business for everyone wants to drive the richer, they gain share. mass-market revenues were down mid teens on the year-by-year basis. part of that was because of the new resort, part of that was also interestingly held back because they had a relatively unlucky win percent.

you could say it was even better -- rishaad: so the house doesn't always win is what you are saying. tim: exactly. rishaad: i don't believe that for a second. we have this broadway opening as well. how do they play into this. it is quite important, they were only open for 35 days during the quarter but it was clearly an impact on this mass-market aspect of the business. their foot traffic was up, that occupancy in the quarter, as well as july following the quarter have been almost completely full. much of that continues to be with their better clients being called. they aren't having to resort to cash pay. it is driving the business. as you look forward -- rishaad: the comparatives are quite flattering, aren't they? clearly, the market is

doing what it is doing today, but these are restrictions that have been eased. there is a change in mindset on the smoking ban imported the mass-market. there are a lot of new attractions that will start to come about that have the potential for keeping people there for longer, having more forgiveness during the week. if we look forward 12 months from now, that is hard to do on a day like today, it does look very different than it does right now. it is a construction zone right now and then it shifts to a tourist destination. rishaad: have they found a flaw yet? tim: not today. it is interesting, because a couple weeks ago we had to the overall group trade up on the heels of some earnings reports. in part with the selloff in china, it seemed like global thesee hitting hong kong,

guys are being whitewashed in the group. valuation is right around the five-year average. have estimates down a lot, valuation at that historic norm, and things potentially fundamentally changed. there are those that think this is the right time. rishaad: thank you very much. tell you about what we have coming up next on "trending business." a market check. that is down 20% in the hang seng. and india'snks, billionaires are involved. these banks are a bit of a brain -- break from the norm. ♪

sri lanka says it was to immolate singapore, hong kong, and do by as a market hub. ministers say they now want to play in a different league. however, the government now has a mandate to continue policies set in place this year. they promised to end discrimination and make it easier for the private sector to do business. bad weather is delaying the recovery of bodies on the air crash site. they had to carry them out on foot and a walking on rugged jungle for five hours. recorder has not been found from the airplane. all 54 people died when the plane crashed into a mountain.

theard university says pollution problem in china is better than previously thought the fossil fuel emissions lower than estimates. and look at 2013 into pollution was about 14% lower than had been recorded. suggestsy about china more attention will be faced to how emissions are calculated. india's top billionaires have been given the to put money into non-lending banks. who is involved? yesterday morning, they made sweeping changes to the indian banking sector granting approval to 11 businesses to launch new payment banks.

a significant shakeup of the country's financial sector, a regular has generally handed out new licenses to private-sector lenders each decade. the banking system has been dominated by slow state bank institutions. this will boost financial inclusion. are expected to reach customers of predominately -- they're not allowed to offer loans or launch products. will improve technology use across the financial sector while also a lab for citizens who are transacting only in cash to transform -- transition into a formal banking system. the launch of two

full-fledged private-sector lenders. the central bank is experimenting with other categories of lenders, and this is the first step towards that. rishaad: thank you for that. we head to the break. it is almost halfway to the workday. we show you the best ways to do that, next. ♪

rishaad: it might be good to take a nap at work. with the creative ways to snooze now. >> over the last 10 years a lot of research suggests that napping in the middle of the workday makes us more productive. i will see if it is realistic to nap on the job. they aren't the most comfortable places to sleep all stop a whole

nap gadget industry has evolved. for -- four nap helpers. calledp is a device the wrapanap. it wraps around your face. wrap-a-nap blocks out light which is nice. but there is no support for your head. it is more like a robust eye mask. it doesn't do anything for sleeping at your desk. next, i use the nap anywhere pillow. it has the assistance of a body strap. it has a complex process that took the multiple tries to figure out. i think this is more comfortable than it looks, but it is not great.

this product was developed a medical professional, but it is pretty terrible. it is a worse version of airplane next pillows. it doesn't block out any light or any sound. i was uncomfortable, and didn't fall asleep. hello -- the ostrich pillow.re-- it has zero assembly required, up top there is room to put wearings, it is like something on your face, i could feel the desk through the and my arms fell asleep to does that count? the emergency nap kit takes a

different approach. it doesn't simulate a bed, it is one. it took me 20 strenuous minutes to inflate the air mattress, which already disrupted my coworkers. there was a part two to the emergency kit, it is basically a sleeping bag that you where. and i feel like a huge freak. i couldn't just lie down in the middle of all these desk. i found a copy room that looked at the best option, my plastic air mattress created a nice cushion. ridiculous, it is kimberly impractical. but better than the rest. napping at your desk is hard, even with the help of our

napparati. they need to create a culture accepted,ping is otherwise they have sleepy work er drones. ♪

>> i am al hunt. >> with all due respect to birthday boy bill clinton, we send you eat hard, but we are afraid it might get white. -- get wiped. happy birthday, bubba. jennifer paul marathon. first, the hillary hutsell. -- hustle. last night secretary clinton met the press in front of an american in a gymnasium. some of the questions were about her private e-mail server, and the whole thing got a little contentious.