a slump in profits. and keeping the faith, the boj governor striking the tone in new york. telling the audience not to be too pessimistic about china. the jakarta session is about to get underway. let's have a look at what is going on. some green for a change. david: let's hope the momentum continues. 1.5% yesterday. of green in terms of prices and volume. asia-pacific, the same as yesterday. put those things together, we are looking at 3.5 percent increase. but do not get too excited.

combining them, it does not take us back to the levels of last friday. what is more encouraging is the shift of money. kiwi-yen? the that is a good indicator. the japanese yen back into more high-yield. pboc injecting some cash into the system to open market operations, another $23 billion u.s. analysts have already flagged that regulators need to do more to replenish liquidity. that is what happened across the markets. we are seeing a good day. philippines, 5.6%, the gdp

figure for the second quarter. 5.7%, acast was 5.8%, little bit of a miss. we will talk to the finance secretary later on. , i think one china thing worth noting is that you are seeing a trading halt, over 500 between the two exchanges. futures, last i checked, up 5%. that is still in the money. -- stocks still halted. those are some of the main tools these chinese firms use in tracking. suggestion to the regulators

in china from the nasdaq. those are the stories. the gdp seemed to be a slight miss at 5.6% for the philippines. 5.7% was the consensus. despite a slump in oil, shares surging today. one was better than expected. it has been a roller coaster ride for sinopec, asia's as best biggest refiner. a 22% decline in profit. they were trying to counter the fall in prices by boosting refining, a big part of their revenue last year. the slump in prices outweighing the benefits of cheaper group.

the company plans a bigger refinery run for the rest of the year. operating profit rose 6% from last year. analysts say the upstream remains very weak. oil production in the first half of the year fell 2% to 274 million barrels. was a similar story. slightly beating estimates, the higher output and lower costs were overwhelmed by the crude prices. this was amid the worst market collapse since the crisis of 2008. the strategy paid off last year for the company when it reported a 6.6% increase in profit.

analysts say the spending cut was in line with guidance, reflecting discipline when it comes to capital at a challenging commodity price environment. the company reportedly has no plans to lay off employees. looking ahead to the second half of the year, they expect the severe environment to continue. rishaad: let's get a look at some other stories making headlines. china's stock fall off is hitting ipo's in hong kong. they are the worst performing index this year. new offerings have dropped 30% lossesfer prices after in the benchmark index reached the most extreme levels since the 1987 crash this week. it thing that could make

more difficult for firms to sell shares later this year. geo securities in hong kong, no one is interested in buying anything. so there will be fewer companies coming to hong kong. it puts a damper on the start for ipo fundraising in china. the head of the bank of japan says markets are being too pessimistic about the health of china's economy. the governor says china is likely to achieve 6% gdp growth the year, but warned that risk in global financial markets and emerging economies, he understands the concern. roda is optimistic about plunging currencies, saying there is no currency. economy, there have been changes since quantitative easing and clear, positive feedback with wages and inflation.

in the u.s., the fed is dialing back expectations of a rate hike next month. statement, they have cast more doubt on a september liftoff. rise is for an early less convincing. ,o begin the process circumstances seem less compelling. this is the first time a senior explicitly dialed back expectations for a hike, two days after the atlanta residents at the china slump was complicating the outlook. theley fisher will speak at central exchange in jackson hole, wyoming. rishaad: shery ahn with the latest stories we are looking. let's go back to the breaking

news out of the philippines, the gdp data. 5.6% year on year. analysts were expecting 5.7% year on year. joining us now, the finance minister. straightas the third year of growth. we have been able to replace the profit assumption of. -- numbers. for the second quarter, expenditures were of 37%. that is a good sign. 47% of only spent about our budget for the year. we are hoping this will continue. -- the important point

lowestines have the correlation coefficient of growth with china. for every percent of drop in , the impact on the philippines is .06. domestic consumption has been a big driver, supported by the fact that the philippines has had 13 straight years of growth. rishaad: you have been seen as a bit of a haven in the choppy waters as of late, even though the manila index was hit. how do you stay insulated? least volatile

among the neighboring countries. shows the growth correlation with china is the lowest in the region. to has really shown resilience. over $47 billion of revenue. pace.growing at a healthy the country is continuing on a reform program. even in an increasingly difficult space. quarter numbers show increased capital probation. very good signals. rishaad: indeed. we have seen a slight differentiation. are you comfortable with where interest rates are?

there is a saying that when china sneezes, countries catch cold. , the peso has had lower appreciation. we think that currencies should be market-driving. that the environment in the country is stable. i think that will be our focus. rishaad: we were talking a couple of years ago about you stepping down. of course, we have the president stepping down next year. will you be stepping down with him? system,like in the u.s.

the cabinet ministers are concurrent with the president. some ministers are reappointed by the next administration. but we do not know who the next administration will be. we will make sure we continue with the reform agenda until the last day of the administrations of growth is there. rishaad: always great talking to you, cesar purisima. riding a way to profit for the first time in years. 4 million aussie dollar's. the question is, are they finally over? here is paul allen. >> it has been pretty bad. i do not mean the way surfers use "bad."

the profit is compared to the $233 million loss to your before. the year before that was even worse. it prompted billabong to describe its brand as "worthless." ceo neil fiske has been doing some hard work, making changes to the supply chain in a third of their stores in australia. they have either been closed or sold. but it has paid off. they have enjoyed their first year of growth since 2008. revenue is up almost 3%. in the u.s., almost 13%. that slender profit, $4.2 million, their first since 2011. despite the good news, shares are down a little after an early

top, down 1.5%. a long way to go before the days of 2007 at $13 per share. there will also be waiting for dividend-no dividend announcements today. rishaad: paul allen in sydney with billabong in the black. formula,x to baby china has been accused of faking almost everything under the sun. but can you think goldman sachs? break, environmentally mining may sound of possible, the one minor is looking to reduce its footprint. ♪

rishaad: we are looking at mining and renewable energy. rout in commodity, miners are looking to go green. lowly spot in the outback is the start of something big. this is a coal mine northeast of perth well off the power grid. ers come out of this mine every year, but that is about to change. their new solar plant should look like this, slashing the fuel. energy expenses are 20% of operating costs. it is something we continue to focus on saving.

if it is something that is environmentally positive, saving 12,000 tons of carbon emission, that is a wonderful thing. reporter: the plant is being built by a german renewables company. they are gauging interest in a with sand fire gradually repaying the $400 million cost. australia can really look at harvesting its resources. reporter: but there is one obvious drawback. >> it does not generate power at night. what it can do is help you save on fuel costs. as backwards technologies become cheaper, there will be a time where mice can be supplied by patterns. solar installations

are a small trend. it is estimated the mining industry solar market will grow to $2 million a year by 2022. paul allen, bloomberg. the outgoing greek prime minister has ruled out leading a coalition with opposition parties if he fails to win the snap election. alexis tsipras said he would not the party of new democracy, who supported him him parliament. but alexis tsipras did not rule out a government of national unity. he would just not be prime minister. toyota resumes work in tianjin after two weeks since the violent explosion that reportedly killed 139 people. njin portman of tia

is under investigation for neglect of duty. "corruption."or korea, the defense ministry is ready to increase spending after the latest standoff with the north. inilable funds will rise line with the overall 2016 budget. extra cash will be made available for combat capability in the dmz. defense-related stocks rose on the news. rishaad: up next, a tragedy in the u.s. raising questions of double standards in the media. ♪

♪ they look at what is trending online. we are following a trustee in virginia, where two journalists were shot dead on air. it was a disgruntled employee fired two years earlier. he shot them dead.

the video was uploaded to twitter and facebook. and it actually made the rounds on social media. they were removed after. you can see the interview taking place. yvonne: that is video the shooter himself shot. shery: it is interesting. we see these from a third person perspective, but this is actually the shooter uploading the videos. they were removed immediately. the account that posted the video also. but there has been debate on where social media companies should stand on violent content. the meteorologist of the station posting "our crew was literally ambushed this morning. do not share those videos." yvonne: a tragic story. thisurnalists, we feel for even more so than usual.

it raises issues about how social media controls graphic images like this. it is not the first time they had taken down images or video. you may remember when james foley was beheaded. that made the rounds on twitter. shery: hey you two. -- and you to. even if the account is taken down, it can make the rounds. --tter says they looks at they look at things on a case-by-case and take down images if it violates rules. shery: but it is a tricky debate on where social media companies should stand on distinguishing what content to pull down. when it comesay to images of the middle east,

that is never taken down. there is question of what the measure really is. abuzz onis has been social media. we are following the tragedy as well. if you use twitter, it is easy to stay in touch with us on "trending business." back to you, rish. rishaad: coming up, what a feeling. anjin resuming after the chemical explosion. ♪

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rishaad: stocks in china holding early gains after their steepest drop since the 1990's. the pboc will inject another $23 billion today with reverse repos. having a look at cinoc, soaring

7% despite a plunge in profit. production rose 14%. sinopec also seeing an up slide despite profits tumbling 22%. stocks in hong kong are the worst performing listings this year. everyone is taking a big beating. stocks have dropped about 30% from their initial offering price is. it is me at lunchtime in tokyo. ever since the start of the session. here is david. david: we are 30 minutes to noon in japan. lunch break. we are at session highs right

now across the region. an up stories in the open. asia-pacific, 1.8%. levels,ose at these that will be the best day since october of 2014. there is some risk appetite. kiwi beating against the japanese yen. sectors, every single one is up, really. you are looking at consumer staples. then you have the banks and brokerages and so forth. let me show you what is just happening in south east asia. ringgit getting a

reprieve. philippines released its second-quarter report. 5.6%. chinese markets up 2%. not one dipping below the opening price. analysts expecting more from the central bank in terms of injecting. easinga, keep in mind does not necessarily translate into an inventory effect. i will leave it there for now. we have more cash in the system in china. hamlin within kevin a look. that the rateea cuts will make things worse down the road, right?

>> that is right. in the short-term, it helps confidence, local government with a financing burden of one billion yuan. but for the long term, we have to look at where additional investments will go. that is into sectors which already have over capacity. that pushes down prices, causes more deflation. can actually pushed real interest rates. so an interest rate cut can help in the short term, and in the medium-term, it can push of real estate -- interest rates. thinking isditional that a rate cut will encourage people to borrow and spend more.

and overall enter into a virtuous circle of greater consumption. >> that is true in the west. many parts of europe and so on. consumers see interest rates falling and think about buying another car or house. china is not credit-driven in that way. people here do not have good welfare or pensions. education costs. they are thinking about saving for the future. that can drag on growth. rishaad: thanks very much, kevin hamlin. we will have a look at this long running currency pain between hong kong and the u.s. dollar. every now and again, people subject it to criticism.

questions being asked about what happens next in the face of devaluation of the yuan. this happens from time to time. the hong kong managing authority comes back and says everything is fine. zeb: we heard from john greenwood, one of the architects, talking it up. most vulnerable stage in a decade from volatility. one year apply volatility has tripled to the -- 3%. this suggests that a regime change could be considered. the de facto central bank has quashed that, saying the peg continues to serve well, but we

know the devaluation half a impact on currencies around the region, leading to changes in vietnam, kazakhstan. hong kong unlikely at this stage, but raising eyebrows. rishaad: what is next? zeb: they will likely continue to defend the peg. been in effect until 1983 and has worked well. barclays with an announcement said it is still an open economy with a large financial sector. rishaad: let's check on some of the other stories we are monitoring. financial holdings will pay the nanyang.rice for

cinda's parent says there is no certainty the acquisition will go through. credit rating threatened. deutsche bank says it is consistent with a downgrade. earnings tumbled more than 50% amid a slump. to assureied investors by slashing capital spending and bringing down its debt. 10 leading carmakers in the u.s. being sued over keyless ignition. that.them, honda and him -- hyundai. to aath can be linked fault, but manufacturers have ignored the risk. , toyotad news today

restarting the tianjin factory after the explosion. it does not expect sales to be affected, but there is bound to be a cost. steve, what is the bottom line? it must take a hit. >> it is good that the plant is getting back up and running. if they shut it down any longer, there will be a bigger impact. i think the impact is minimal. automakers typically shut down for a few weeks in the summer for maintenance. this is normal. , the number of vehicles that got destroyed was around 5000. $250mpact is probably million. urance will likely pick that up. rishaad: who else has been affected by this? >> a number of automakers with

cars in tianjin. they will have to divert to shanghai, so there will be cost in terms of logistics. there, the estimates out impact ranges from $500 million to $1 billion. again, a lot of that covered by insurance companies. but looking at the industry as a whole, 20,000 units is probably 4.5% of monthly sales. it will not cut into the inventory glut. rishaad: any long-term implications for carmakers? >> a lot of things going on in tianjin. devaluation, cuts, the economy slowing down. so much uncertainty in. chinese car buyers are refraining from buying until the next car.

there is a lot of uncertainty on when buyers will open their wallets and improved sales and earnings. rishaad: steve, thank you. highfliers return this evening. we meet a father and daughter team running a conglomerate in time. harold and caroline link. we asked the animals questions, and give us interesting comments. one says she wants to be a superstar. [laughter] >> another said she would like to be a mother. i said, i cannot help you. rishaad: you can catch our footage of harold and caroline

6:00this evening at singapore-hong kong time. imitation is say the highest form of flattery. if one company feels that way after discovering they have a chinese doppelganger. ♪

shery: these are the stories making headlines around the world. the bodies of 51 african migrants have been found in a boat off the coast of libya. a crew made the grim discovery after coming to the aid of the boat. 430 migrants were saved. 10 rescue missions were carried out on wednesday near libya.

china, myanmar, and thailand have announced joint patrols on the mekong. this -- the 37th time the nations have undertaken patrols together. this commemorates 70 years since the end of world war ii. has issued a new alert about nasa hasrming, -- issued a new alert about global warming, saying it is unavoidable. driven by fossil fuels, world water levels have risen two since 1992 and will

rise for decades if not centuries. china may have a reputation for knockoffs from phones,ng from watch but what about global lending? this happens a lot. this is extraordinary. , they have a chinese name and an english name. a fairly generic word that means "top victory." their own website says "goldman sachs." rishaad: in brackets, shenzhen. >> when i called up, i said are you affiliated? said no, no. enjoying a bit of the globe.

michael jordan lost a case against a global company where a chinese company was using his name. rishaad: they apple stores. trademark law in china is a tricky thing. one guy got his family to staff a fake bank. not the first time. rishaad: a company like goldman sachs, they are not going to take this lying down. >> they did not seem too stressed-out about it when i spoke to them. now that it gets bigger -- rishaad: did they know about it? >> they had not heard of it before. this financial leasing company claims to be pretty big. this story came to light because

the states making allegations that they had shady connections. rishaad: tell me about them. how they came to light. what was the mechanism exactly? a casino union in the states has been pushing for tighter regulations in macau. there are lots of allegations of connections to money laundering, triads. so they have been writing letters to anticorruption authorities. somehey mention, here are things you should take a look at, including this goldman sachs. it is not affiliated with the goldman sachs we know. it may be facilitating dodgy business. rishaad: thank you for the. -- that.

we have heard about artificial limbs being controlled by the line in science fiction -- mind in science fiction, but we spoke to a company leading the field. >> this is very easy to understand, what we are doing. people that do not have a leg to stand on and change that in almost a heartbeat. i am the president and ceo of a orthopedicslved in and prosthetics, ossur. the industrial part of the world is 80% of overall sales, which

is $500 million a year. this is not a high volume growth market in the western world. it has to come from the technology cradle. that is why information and technology is very integrated in our strategy and very important. -- number two worldwide. we are selling more products than before. procedures, there is basically a sensor in the body that takes up brain signals. they control the prosthesis. we are bringing out very sophisticated stuff. thatter-controlled limbs learn how people walk. how to adapt to how people walk.

to learn how they should react in different situations. , when you start to imitate the body, it is a very humbling experience. when you look at the products we are putting on the market, we compare them with old products. they are vastly better. , weared to the real body have a long way to go. we are nowhere near. we are not even touching it. rishaad: we have to take a break. sheet couldat white could prove cheap cheerful for india. ♪

rishaad: this is "trending " and we are looking at the start of the trading day in india. looking at the implications of the oil price and the stock these have in china, not been good effect for commodity prices. one places benefiting the most from cheap oil is india. details.has the it is a net importer of crew. -- crude. the finance minister and the central bank governor are trying to allay concerns. the currency is looking good. india has less exposure to the inwdown compared to peers

the region, accounting for 5.2%. indonesia is more than twice that. thailand and malaysia, almost triple. this is good news for prime minister modi, who campaigned on the promise of kickstarting the economy. he has been trying to push through reforms to do just that. there could be a special session of parliament after the current session. meanwhile, a word on the ruppe. it has been volatile the past few sessions. india has tried to ensure that even with volatility, the central bank would have enough to stop it. while crude prices may have an , yout on most economies

can see india on the whole having a good run. let's quickly check on some of the stories making headlines. digital testing a messaging assistant to rival sir i and cortana. it can carry out a series of tasks like purchasing gifts. it is being tested in san francisco. samsung has been responding to complaints about the stylus for its new note 5. it can damage the device if inserted the runway. -- incorrectly. samsung says it is not defective. that is it for "trending ."siness

and tuned for "asia edge" more on the growing pressure on currency. that is next. ♪

mark: i'm mark halperin. john: and i'm john heilemann. and "with all due respect," mr. trump, you aren't the only one who knows how to escalate the situation. ♪ mark: hello, hello, from trump tower in new york city. we are the first reporters to get a tour of the trump campaign headquarters in this very storied building. more on that in a moment. but first, our guest tonight joins us right now. he is the man of the hour and the man of the tower, donald trump. thank you for joining us, mr. trump.