the new china bank expecting to sell by the end of the year. the president saying it is going to be a truly international development institutions. follow me on twitter. #trending business. we are talking about the asian pacific being on terror. shery ahn: after weeks of losses, led by the nikkei, which at one point surged over 5%, it is now gaining the most since march 2011. up 4.9%. and losee nikkei fall all of this year's gains yesterday. i just regain footing today. -- they just regained footing today. the fact that the japanese yen is weakening is helping. asx rising. aske

shanghai composite rising 1%. hang seng rising 2.2%. we heard from goldman sachs that authorities in china probably $236 billion trying to .rop up the market in shanghai they succeeded today. they are gaining. untamed --remaining unchunchanged. the latest steps in order to reorganize the big -- business empire with infrastructure offering $11.6 billion in stock to buy a sister company, hong kong electric here that would be power assets. i also up 4%. not to you. relationships and that

survives to financial crisis, change in sovereignty. three decade-long hong kong peg is trapped in a tug-of-war between the united is in china. who is going to win here or is it really a battle? juliet with the details. reporter: a battle or telework. cut between the tightening u.s. monetary policy and the slowdown in mainland china. this means hong kong virtually has no choice but to follow the fed in raising rates. that is meant at the end of the year. at the same time, we are seeing slow growth in china, the slowest in 25 years. that's putting pressure on hong kong's property prices and wages, fueling discontent. they say it is a double lenny for the currency. we can see what has endured since what happen in 1993. we had the changeover in 1997 or

the asian financial crisis in on the lot of attack hong kong currency by speculator. and then we had the jsp by 2007. protests last year. the hope -- hong kong monetary authority has reiterated the pledge to try to maintain stability of the currency, which is allowed to trade between seven dollars 75 hong kong. we have seen volatility. almost double last month. last week the dollar reached the range for of trading the first time in four months. at the same time, we are seeing hurtingand luxury goods due to the crackdown on anticorruption and a slowing economy. the currency link also hurting competitiveness because of exchange rates weakening across asia apart form japan.

economists in australia thing adjusting the hong kong dollar peg would be harmful. monetary authority saying it is too early to consider adjusting, because the currency is not fully convertible. it looks like the hong kong dollar peg is here to stay. rishaad: thank you. we'll take a look at singapore's property developments bracing for tough times ahead. they are bracing with housing curves and out home prices are expected to decline further. singapore.in is in isspoke to phoenix property a short time ago. they say is a situation of supply and demand. how bad it -- that is a looking? h unbalanced, it's not looking too bad. haslinda: singapore home prices were at record highs, among the highest in the world. so high, they prompted the government to come up with cooling measures now it's an

additional stamp introduced last year, prices are using. -- asing. tradeking prices will slump as much as 5% this year. developers are feeling the pain. some in the markets say prices will probably have to fall even more. between 20%-30% to make homes more attractive investments again. you talked about higher interest rates, buyers will not have to factor in rate increases before making purchases as well. dollar is seter for its biggest annual loss since 1998. the expected rate height and yuan depreciation behind the weakness in that seeing dollar. all things considered, further price corrections will be difficult to avoid. we are bracing for cheaper homes for a buyer. that is not a bad thing. rishaad: thank you.

-- let's take a look at other stories. kicking things off with a look at the asian infrastructure investment bank. david: we are just getting some updates here out of seoul. that is where the press conference is ongoing at this point. the president designated, actually answering questions at this point. let me get to some of the comments. bigger -- the aa id will have more than 70 members. more countries are waiting to join. the door remains open for japan and the u.s. to join in . they will be continuing to talk to both of those countries about joining this infrastructure bank. he says expect it to be in operation before the end of this year. by early next year, they will start financing projects. that being said, the bank will

formally launch once it has had 10 members with more than 50% share. that is a combined failure. a 26% voting has power. as far as projects are concerned, some guidance in this regard, they are looking at quality not quantity, with a preference in perhaps promoting green economy projects. fore is also zero tolerance corruption. no funny stuff. the press conference is still ongoing, we will keep you updated. it is happening in seoul. the president is speaking. move things along and bring it back to hong kong. we had this massive link -- reshuffling within the business empire. check out the shares.

still in the money. infrastructure, 5% holding up north of 7%. power asset holdings will be bought for 11 billion. cpi will be offering a cherry on top. also gives c.k. i access to a $9 billion cash flow. part of that will be going to special dividends. that means the chairman says the merchant makes it more diverse 48 -- diversified, not just one country or industry. one analyst said that the deal makes sense for a combined entity between the two, it would be able to efficiently allocate cost.ces and avoid

a lot of cash flying around. the third piece of news, fairly bad. sources are telling us that an outdoor maker quiksilver is preparing to file for bankruptcy. it could come as early as the next few hours or to stay in the u.s. this is not come as a complete surprise. it has run into financial difficulties. it has to compete with fast &m, and brands like h dealing with costly leases. stores will continue to scale down after the filing. operations in asia and europe will not be affected or will not be part of the filing. any plan before it goes through will require court approval.

an update could come in the next few hours. rishaad: looking ahead to what is coming up, china is the engine of the car industry growth, but that engine is now just sputtering along. punching demand threatening sales as well as margins. chinese travel numbers are soaring. we'll see how the marriott is making it easier for them to spend money. ♪

we are back with "trending business," the number of chinese travelers expected to read 200 million by the end of the decade. hotels and other terrorist companies are trying to make it easier to spend their money. they want to make hotel bookings easier. let's bring in the asia-pacific president for marriott.

>> how does this deal work? >>we see two great trends in the industry. trends are mobile and chinese. those are probably the most powerful words in the industry. mobile sales are up. our booking everything on their phone. everything happens here. digital visits on mobile. we are up 35% year on year on mobile sales. it is a huge -- rishaad: is that also mean laptops as well? >> no, just phones. this is the fastest-growing sector. everything is happening here. bank accounts, transactions. the second trend is the chinese traveler. the chinese, 200 million, the second largest outbound market in the world. they will overtake the united states in 2020. in the old days, you would and seeo paris

americans in blue jeans and white tennis shoes. today, easy chinese everywhere. this is a win on both fronts for us. we are capturing it bigger part of the chinese market and making it easier for them to travel. rishaad: how does it work customer you that the hotel, you get a qr code? it is a digital wallet. they don't have to travel with a credit card. they trouble with -- travel y, it is safer. you don't have to hand over a card. that's the way they prefer to travel. alipay has 80% market share. 300 -- 300 million active users. rishaad: when you do the same thing with paypal in the u.s.? >> we are moving that way. but today we are working with apple pay. for american travelers who prefer that. we want to make it convenient for reservations and also to be

able to check-in, checkout and pay. rishaad: let's move on and have a look at the demand in this part of the world. and the key metrics. >> we are growing phenomenally year after year. asia is a mixed bag. we are naturally hedged. growing about 5% this year. it is next. shanghai up 10%. markets like japan, up 24%. india is up 19% year on year. market -- youeasy can see the diversity of the markets. rishaad: in china, 10% growth in shanghai. where are the weak spots? >> hong kong's a little bit more weak, the hong kong dollar is stronger. you have the residual effects from protests a year ago. shanghai is probably a little bit close to flat.

the chinesemarkets, outbound market is the hottest market. in tokyo, we are up 120% in chinese travelers. rishaad: what about other parts, india doing well? >> india is a great story. attracting foreign invents -- investment. we are bullish for the next few years. rishaad: what about thailand? a lot of instability. the bombing recently. any fallout? >> we have had some follow, but we hope it will be temporary. were to that, numbers phenomenal. we have seen hotels lose maybe 30 points -- 30 occupancy but it's starting to build back. you do the normal thing of franchising the hotel? >> yes, we manage. rishaad: you've got many more

brands out of marriott. >> we have 19 brands. we are vertically integrated, you can go from a fairfield into a ritz-carlton. horizontally integrated. rishaad: how many hotels will you open this year? >> 30. in this part of the world. rishaad: thank you very much. stories making headlines. central japan is battling down the hatch and -- in the path of a tropical storm. it has sustained winds about 80 kilometers an hour and gusts up to 100 30. whether agency has warned of landslides and localized flooding and possible tornadoes around osaka. japan airlines say they expect flights to be disrupted over the

next couple of days. thailand say the next election may be delayed for nearly two years. they say the rejection of a draft constitution pushed it back to june 2017. deputy prime minister says it will take six months to write a new charter, four months to prepare a referendum and about a year to set up a new election. the stocksnty -- have declined for that weakest day since march 2009. mina marth decision leader has described the november poll as a crucial turning point. she remains popular but cannot stand. it excludes people with foreign spouses or children. with the military still in control of the process, there is speculation over whether it will be free and fair. rishaad:, winds of change.

oflook at the growth renewable energy has more governments go green. ♪

rishaad: this is "trending business." i'm rishaad salamat.

following terry's numbers and rising commercial rent is contributing to the gloom. less benefits of employers said they will be hiring in the next three months. rival has defended its policy of offering subsidies to drivers, saying it needs to bring cash in order to build economies. company says it is already handling millions of bookings every day. planes has been aggressive. billion in its3 latest round of financing. it is valued at more than $16 billion. plunged toy shares the lowest on record. it is more bad news for what used to be the world biggest solar panel maker. second quarter net loss more than doubled to $94 million from a year ago. now reporting 16 straight quarterly losses.

staying green, the world's largest maker of wind turbines says it is not seeing a slowdown in china and predicts 2015 will be growth. at -- spokee spoke to someone at the world economic forum. had theompany has highest record quarter ever in the history in terms of revenue and earnings. on top of that, orders are the second quarter -- highest quarter in history. globally what we see is strength across the globe. this year alone, we have booked orders and 27 countries. we are seeing broad growth. reporter: how is this happening? everyone around the world is looking for growth. also, oil is such at low prices right now. how is this renewable succeeding at a time when oil prices are cheap? >> i think it is a time when the

world is looking about how energy is produced. i think we are at an advantage. the wind industry has been around 35 years. we have continued to move closer and closer debt energy parody. rity.o energy pa if you are building, depending on where you are, new energy generation plant, wind is competitive and more competitive than fossil fuel plants and other renewable sources. reporter: you are the biggest wind turbine maker in the world. this is the biggest market, china. but you are still a small player. how will you get more market share here? >> we are looking for strong growth in the region. globallook probably at wind market, asia-pacific of future 60% roughly

wind market. we are making sure we are positioned for that. if you look across asia, we have 11 gigawatts installed, more than four and a half in china. build that and also make sure we drive operations and maintenance really well. reporter: how about the slowdown in china? >> it has been interesting, with what we hear in the macroeconomic, we are not actually seeing that. at least as a western company, last year the market was 25 gig last depending on which report you we'd -- read. most say it will be another 25 gigawatt market. the market seems to be strong. for us in particular it's a growth year. we expect to continue to see that. so far this year, we have already booked more than we have booked already last year. halfway through the year. we are not feeling the downturn

as much on energy. i think it has to do with similar to what i mentioned earlier, where china wants to theirs energy reduced and -- produced and there is a lot of support for renewables, particularly wind. rishaad: straight to the markets. japan putting in a stellar performance. up 5.7%. seng, 2.8 percent high. , the newest king of the hill. arrival goes to -- rival goes to the top. stay with us. ♪

rishaad: look at top stories. asia-pacific equities higher by the biggest gain in cap -- japanese shares in 10 months. stocks, tuesday's late afternoon recovering setting off a rally. hong kong's 32 year old currency package -- peg is under strain. tightening monetary policy and the slowdown in china. it's putting downward pressure

on the property prices and wages. reporting retailers in the city at the fastest rate in 2000 three. agent infrastructure investment bank expecting to have more than 17 measured -- members soon. a number of countries are waiting to join. it will be expected to be in operation before the end of the year. trying to bring more funding and projects in infrastructure to asia. we have the japanese lunchtime break right now. japanese investors heading to the lunch break after a surge in the morning session. sinces the biggest gain march 2011. it comes after they close at the lowest level since february. all stock gaining today. except for toshiba, they have an

ongoing accounting scandal. the weakening yen. let's take a look at moves in the market. tokyo electric rising more than four and a half percent after j.p. morgan chase. fuji industry rising more than 8%. the nikkei newspaper reported they might increase dividends. i want to take you through some korean movers, especially in the cosmetics industry. kpop boom is helping. overseas,gaining

shipments have increased. more than 73% in south korea this year through july. despite slumping exports. also a lot of money flowing into bonds this morning. we have the aussie tenure actually gaining 10 basis points. at 2.76%. this is the biggest gain since july. the u.s. 10 year rising two basis points. back to you. rishaad: hong kong must be feeling a bit battered and bruised. the slowdown hurting the economy in china. it is a tug-of-war between beijing and washington. what we may see is a double any situation for hong kong. -- we might have to raise interest rates. rishaad: hong kong's monetary policy is not its own. reporter: exactly. we can see pressures on property

prices and wages. rishaad: are we expecting any eg?nge into this p nobody outright says it will change in any way. reporter: exactly, it looks like it will stay for a while. the government has been saying, it will stay-- here for a long time. to bed: the question has why not a change in the future? can there be a change? >> there could be, but for now the alternative is rarely limited. yuanption is the chinese but it is not fully convertible. for now we have to stick with the u.s. dollar. rishaad: thank you for that. we will look at rolls-royce for a second. it launched a new convertible aimed at the ultrarich driver, despite sales of open top cars falling 51%. called the dorn, it costs

$335,000. they admit the slowdown in china has been faster and deeper than they expected. the chief executive says it is hard to know how much sales elsewhere can compensate. the china market is currently seeing quite a contraction in the luxury goods business, and that is not only true for cars but also jewelry and watches. many reasons behind that. we also have to be affected by that. china's demand for -- plunging nearly 30%. the rest of this year is looking just as bad if not worse. steve mann is here. what are the other car dealerships doing? reporter: especially if you look

at the luxury end, that is where it is getting hit most in terms of ability. a little bit of akron, as you know, -- background, as you know, luxury goods are not as much as mass market stream for dealers is selling cars. and after sales services. since there are not a lot of cars, they have to depend on new beenales, and that has down. at the end of the day, the business model has to change. it needs to shift to something like what they have in the u.s., where they make more money on new car sales. rishaad: what about the carmakers themselves. they are probably discounting here, so the margin is getting crushed. what can they do about cutting cost? >> they need to do a lot to cut cost. commodity prices are fine, but at the same time, prices are being cut faster.

are falling,prices but at the same time prices are being cut faster. they have a lot of plans and machinery, that is a huge cost. they need to slow down expansion. they are very aggressive in expansion. they have a long-term view, but they can delay those expansions. rishaad: what about the overseas numbers. >> if the last two months is an indication, we will probably see year-over-year decline. june, july, sales have been down. we don't see any signs that the consumers are going to open up their pocketbooks right now. rishaad: what about more interest rate cuts, does that help? how big his car financing in china? >> it will not help that much. 10%-50%ncing is around of total sales.

a lot of people still use cash. that is low compared to the u.s. in america you are looking at a boys of 70%, that use financing. rishaad: a long way to go. a big opportunity. let's check on some other stories. the infrastructure has hit a record high. the billionaire shuffled his business empire for the second time this year. they are preparing to buy hong kong's power assets. $12 billion in consideration. li wants to combine utility interests. the indian prime minister is calling on the ridge to buy into the rich to boost the

economy. chairman -- they have been struggling to implement key reforms. days after launching its first foray into asia, netflix lng -- announcing more plans. three -- it will enter into hong kong and singapore. they will make the first time outside the united states. alibaba has lost its top spot as asia's largest internet company. we have been tracking this. $.10 taking the lead. reporter: alibaba has missed revenue for the past two hasters, whereas tencent just started monetizing its

revenue. on the other hand, even though they really want more than 50% revenue to come from outside of china, it is more like 83% right now in china. rishaad: what is alibaba doing wrong? i think it's more in a few of expectation from investors because they promised so much when they were doing the ipo. but what is really happening is they have a lot of long-term growth expectations that they are trying to invest in. but these take time to actually grow and actually asked and. in terms of short-term growth, you are seeing them struggling a bit. especially in the next corner, this is continuing, something that might continue throughout. they say that they expect a relatively tough quarter next, and the growth merchant is only

going to post single digit growth. we have had a few lines on that story, they are trying to been it off. reporter: yahoo! is trying to see something off the irs, but it's not a deal. we have to see what is coming and they need to seek legal counsel if they want to pull this off. rishaad: up next, the long-term potential of china. when "trending business. --"trending business," returns. ♪

lunch break for the nikkei to 25. surging 1% rise.

the biggest gain in something like 10 months. at one point, 7% gain in sydney. stocks looking on the upside. market and commodity producers seeing currencies strengthen. property prices on the longest slide in a decade. here in hong kong, let's get a picture of what's going on. let's turn to some of the stories making headlines around the world. the european commission will reveal its plan or settling around 120,000 migrants. the nations are divided on whether to accept mandatory

numbers. tens of thousands have migrated from the wars in syria. up to 12,000 of the refugees will be -- the iran nuclear deal is set to survive any attempt by republicans to halt it. presidential hopeful donald trump will host a rally opposing the deal as congress returns from summer recess. her vice president dick cheney is also a critic claiming against the run the means to launch a new their attack -- nuclear attack on the u.s. hillary clinton is apologizing for the first time for using a private e-mail server during her time as secretary is a. theking to abc, she says decision was a mistake for which she is sorry and takes responsibility. she says her use of private e-mail with legal and above board, but opponents argue it could have compromised u.s.

national security. the slowdown in china worrying investors. deeply unsettling markets. buffett remains firmly optimistic, saying china offers long-term investment opportunity. he spoke to bloomberg after lunching with a chinese businessman who paid nearly two and a half million dollars to join him. >> there's been a lot of turmoil and ups and downs. you have been pretty bullish on china. enthusiasm,red your given the government in the markets? >> overtime. this company has gone through -- country has gone through world wars and a civil war. we have had lots of ups and downs in the country. the overall we cap moving forward. china will be the same. do you see opportunities?

you have done some investing. a little bit of investing. we are open to ideas and any place. we have a number of factories there. capital travels. expanding beyond china, to what extent are you concerned there may be indications of more global slowdowns? china is slowing down, we are not sure how much. brazil is in and out. looks like ill be there for a while. u.s. numbers are fair to middling. europe is growing some pretty slowly. should be concerned about the global turnout and what policy could be done? >> i think it is unlikely the world has a great slow down, but it always can. history has not been a straight line in this country or any other place. when i look at us five or 10 or 20 years out, there's no way america is not going to make progress. or that europe or china is not going to make progress. i can't get the ups and downs in

between, but i do know that the tide is humans. we learn more and more all the time about how to unleash human potential. we are the same people we work 200 years ago, but look at how different we are living. rule of law, equality of opportunity, they are not push on, theas we world moves forward. reporter: you've been involved in energy for a while. exxon mobil, you had for a couple of years. pretty short. but you just gone back into philip, a different company. >> that is a refinery with chemical interests. reporter: how much of those decisions is governed by your view on long-term oil? i don't have strong views on that, but i did get less enthusiastic about crude oil prices.

time that we owned exxon mobil. i thought the future was not going to be as good as we were thinking. , we owned no companies that are crude oil producers. was david west speaking to warren buffett. you can get all the days stories and watch wherever you are, get app.loomberg we are headed towards the break, but we are going to be looking at this brand new shanghai skyscraper, and why it could be an omen of economic boom. you are watching "trending business." ♪

rishaad: we are bk with "trending business." we have a look at what has been going on in the asian infrastructure investment bank. they want to start work for the end of the year. they want to have more than 70 members soon. there are a number of countries waiting to join and the door remains open for japan and the united states. they are a china led initiative aimed at funding projects and infrastructure across asia. a former citigroup chief executive is back in the news for his investment in a startup. it is to expose hidden fees financial -- financial engines charge including life insurance, retirement accounts, and credit cards. last july, the bank was punished

selling pricey and unnecessary add-ons to credit card customers during his tenure and after. trouble at subway chain. quicksilver -- trouble at a fashion chain. work withr is set to a private equity firm to provide financing for a bankruptcy filing. it has costly store leases. shares tumbling nearly 80% this year. the company fell victim to changing fashion taste and rising competition. apple fans are counting down to the latest event. tech giantscisco are set to unleash a new version of the iphone. -- is saidincluding to include a faster processor. they are expected to update investors about performance here it look out for anything on apple tv also.

tops of a bigger ipad as well. what did new york's empire state and others have in common? the east skyscraper broke ground once as -- the booming economy crashed. it is known as a skyscraper index. the next example might be a tower opening soon in the heart of china's financial capital. --n angle from shanghai stephen engle from shanghai. in the last 30 years, there has not been no be a group boomtown then shanghai. a 2073 foot tall shanghai tower punctuates the point. the world second tallest building, a spiraling feat of engineering that supposedly is impervious to earthquakes and typhoons. but as -- it is the economic headwinds that may be a bigger threat.

it will open just as china's economy shows signs of buckling. the man who called the tower is check and child -- second child explains how he views growing pains. >> usually the construction of a huge building happens when the economy is growing. construction takes time. -- end upave completing when the economy goes down. the opposite is happening here. we started when the economy was bad. it is completed when things are getting better. reporter: relatively speaking. but he and the u.s. architectural firm gensler and vision it being more forward leaning. >> they want us to give them a vision of the future. it has wind turbines for energy efficiency. it captures and recycles rainwater and has multiple sky gardens. vertical neighborhood living, they say. now that shanghai has completed skyscrapers, urban

planners say the challenge now is to create a community in the central business district rather than having three tall separate silos into the sky. at the problem of how to make a tower a livable space. if this crucial question. reporter: and on studies modern urban living. >> buildings are by their nature controlled spaces. i think that is a big problem. how do you let an interior of the building become the free space of the street? proposition.ficult it is particularly difficult in china. reporter: as chinese policymakers must not be realizing, open spiraling market economy may be far more

difficult to control. stephen engle, bloomberg, shanghai. rishaad: that's it for this edition of "trending business." ♪

mark: i'm mark halperin. john: and i'm john heilemann. with all due respect to hillary clinton, this is how you turn ♪he page. john: it wasn't bad. mark is back. happy national and a long day, sports fans. in our lineup tonight, dealing with the donald, sitting with stephen and having a ball with haley barbour. first, page turning alert. hillary clinton campaign has identified a weak period. it is seeking to transform its candidate to a more humanlike figure. exhibit a, on "world news tonight" where clinton finally