saying a delay is less of a risk with an eye on weakness on the global economy. the fund says there is no shame in waiting. no waiting on our top stories. follow me on twitter. do not forget the hashtag. we have the golden week break translated into a golden buy opportunity. the shanghai market trading on a positive note. let's take a look at what is driving sentiment. >> it seems that china's investors have come back from this break on a buying spree. we are seeing the shanghai composite up by nearly 3%. lifting the overall region which is higher for a seventh consecutive session. we have seen on markets since april. a couple of reasons than we are seeing this big positive movement coming through in china, i will show you every center is moving higher. we have the government stimulus

efforts from the pdoc during the golden week break. also, trade is getting more bearish on whether or not there will be an intimate rate hike in the u.s. tech stocks up by about 5% as our health care stocks. here are the bigger movers and likely in the energy space. during the period china was close, oil prices rise by 17% over the. period. petrol china which has been doing well in hong kong, the a share market up by nearly 10% and that is the best -- 3% and that is the best value. ping an insurance is looking good as well. a big pickup in the insurers. back to hong kong -- it has snapped the winning streak we have been seeing, currently down by 1%. it is interesting to see the stock, like the energy players that have been doing well, has

been coming up a little bit. and that a bit coming through in those energy players. turning negative into the last half-hour of this morning session. also in hong kong, we have been watching very closely the big spike from the $31 price, at one point hitting $34. rish. rishaad: thank you. we will have a detailed look show.on the we value your opinions. follow me on twitter. now, it is looking like a very good thing so far if you are an investor. china shares making their debut about a half hour ago which can only be described as an a-list performance. here is david. david: i think the b list so far is taking a back seat. taking a look at the shares -- a little bit off the hike. about 9%, but that means if you

you aret the ipo price, doing fairly ok. 33.65?der -- dollarsnearly three from the $31 price at ipo. so good though. and even good move better for the timing. at this price, roughly speaking, this unit imax china at about $1.5 billion. it is of that of growth -- bet of growth, that they can follow through on growth plans. that is a look at china. 2.21 is 90% of the market. 217, the number that you see, that's the plan -- these contracts have already been signed. it is really a matter of installing them. that is important because that's

when you can recognize the revenue, when the money trickles in. there is risk at some extent. that is essentially a schedule of when they plan to put those theaters in place. this could happen over the next three years and later on, about 2021. if they do sign more deals, the better. in the same way when you take a look at risks, one of the key things the company did flag is the relationship with its biggest customers. just a quick look here at its five biggest customers. its licensee, if you want to look at it from the imax technology. here areof the five essentially cinema theaters in china. china, thatare in is a korean one. it is the imax corporation which is the parent company which got

the bulk of the proceeds of the revenue. roughly speaking, $58 million. net. which the company can invest and look into expansion and building of inventory. with that being said, it is a down day in hong kong but imax shares are up 8.7%. not bad for 30 minutes of trading. back to you. rishaad: talking about australia and the bank in the vehicle financing business. let's go to sydney. we have rumblings of this deal earlier and they seem to be based on fact. >> that is right. the people with knowledge of the matter turn out to be correct. this is an $8.2 billion deal. macquarrie will pay from a make

sure of financing to the tune of $400 million. it'll be offering 5.1 million new shares to institutional investors priced between75.50 and 77.80. they are at 77.84. they will likely stay in trading holds until tomorrow. they also had a trading update e sure of financing to the tune of $400 million. . they are expecting a full year result of 2016 to be up on 2015. announcing an interest dividend up a dolla $1.60 per share. business,e finance the point-of-sale finance, the funding for showroom stock and the finance vehicle dealer of the accc is unopposed of the deal. ceosts with the strategy which fitting with the businesses of the highs and lows of investment they can. you can be sure the world of vehicle finance will bring unique challenges. rishaad: thank you, paul allen in sydney.

let's have a look at some of the other stories. has ago over to zeb who roundup and hillary clinton changing tect. >> that is right. democratic presidential candidate hillary clinton is speaking out against the just completed trade partnership. sheking with judy woodruff, says she is not in favor of the deal because it does not meet the higher bar her campaign has set. the obama administration considers the deal a signature achievement. she was initially supportive of the deal in her four years in the obama administration. the decision to reject the tpp won her critical support from organized labor. the labor union called clinton's decision a turning point. the trade deal must still be approved by government in 12 countries and faces an uphill battle in congress. deutsche bank is bracing for its $7 billion loss. it is the biggest quarterly loss in a decade and may also strap its dividends.

investors going back to germany's postwar reconstruction. all this as the co-ceo tries to right the ship amid legal costs and regulatory scrutiny. they may shelell a stake in a bank. global firms including goldman sachs have sold stakes in chinese banks as new rules require more capital against the investors. the diesel emissions scandal is expected to get more costly. u.s. regulars will find out how much the german automaker profited. volkswagen may be viable for fines up to $18 billion. according to one consumer lawsuit last month, vw received at least $2 billion in economic benefits and selling diesel vehicles in the u.s. that she did emissions tests. the environmental protection agency will examine how much harm the exits pollution from vw's violation caused to the environment and the best way to

fix the damage. rishaad: another story we're following is the four-way oil price crash is holding the global -- hurting the global economy. coming up later on the show, a juggling act. looking at how the twitter chief executive handles the load. havemf and the world bank raised concerns about growth in this part of the world. we will see how bad this can get. trending business returns in a couple of minutes. ♪

rishaad: welcome back to trending business. the fed was right to hold off on a rate hike in september and will hold off on liftoff even more, according to imf officials. the risks of raising rates too

soon would be better than waiting to long. they do not identify the ideal time for a hike but said the decision would be data dependent. >> i don't agree with the strategy for the fed. the fed needs to do what is right when it is right. looking at the united states, in terms of inflation, you will see the conditions are there now for the fed to increase interest rates. in fact, our recommendation is for the fed to wait until there are tangible signs that inflation is really rising for the objective. rishaad: let's take a closer look at risks facing the global economy. our chief asia-pacific economist is here. you are at the imf as well. the thing is about this whole debate, whether we raise rates or whether we should, we have been naturally at zero for so long.

they need to do something to normalize it. that is one side of the argument. the other side said if there is data defending it, let a single shred of evidence out there if inflation is necessary. >> that is right. -- used to be my boss contradicting such a wonderful economist. we are really stuck with this. yes, the data does not look fine, but if you look at projections for u.s. stocks, they are above potential. we are talking about 3% growth. so, maybe what is happening is there are structural changes in the u.s. economy. rishaad: structural changes along the whole -- the developed market? alicia: of course. we are not creating the jobs we want to. i think we are maybe focusing on stocks that will never come back. what to do with this huge liquidity out there?

investors are quite happy with the decision. yield,ve research for liquidity going into nonliquid assets. what is the reversal of this when you think about it? we have factors in the imf, giving the report talking about liquidity is not just what may happen if it starts harking -- hiking the rate. a lot of investments are nonliquid assets. even the liquidity is ample, there could be interest. we could have systemic risks. realize it when up the as easy as we thought. rishaad: that is it. you mentioned nonliquid assets. by that very nature, that is where we have seen the asset bubbles. even modest rate hikes can actually cause those bubbles the

burst. alicia: i think we are now in a world where nobody would imagine the fed going as it used to. we are thinking about very minor hikes. some are even thinking no hike. why? because of the reason you mentioned. even minor change in the validity could have a very big impact on some markets. rishaad: ok, well, we need to do something. we need to go back to the old days, is what you are suggesting? alicia: put it this way -- we could rephrase the whole thing by starting with -- we all discuss what are the targets for central banks? maintainings are decent level of growth and more so, especially for the europeans, maintaining a decent level of inflation. rishaad: go back to the gold. alicia: if they're supposed to care more about stability, i

think that is where we are heading if you think about how the fed is behaving, maybe that is the way to go. but, at the end of the day, we have the balance sheets out there for central banks. the minute they keep growing, we need to know what is happening. the fed is not growing, but it is that a huge level. it will continue to grow. where are we? canhis a place where we actually stay forever? that is the question i have. rishaad: the answer? alicia: i think we cannot, unfortunately. the reason why is because there is no limit to how addicted markets are to liquidity. meaning there are limited amount of liquidity you need to withdraw. you have to come back and forget about inflation.

slowly too go very smaller balance sheets from central banks to allow markets to play out among themselves, not relying on the fed. the answer for me is yes, we need to reduce the balance sheet but do it slowly. you better do it slowly. rishaad: what has been the transmission mechanism of these growing balance sheets into the economy? alicia: good question. very different pictures are out there. say europe, where we know -- nothing has actually happened. if you look at the numbers in europe, even household credit is starting to move -- rishaad: the banks are not lending. alicia: they are starting to lend. ironically,eaking they are looking for a better position because they have done less. they have had to reduce the balance sheet -- bringing back

the ltro's. that actually puts them in a position where the balance sheet is half of what the fed its. and they have already instilled this credit into the economy. may be they want to actually do that. rishaad: very quickly, 2016 -- what will that be like? alicia: i think it will not be as bad as people are thinking. people are very negative. china, which we have seen some -- they are not able to announce it loud. i think 2016 will not be a horrible year, i don't think. rishaad: always a pleasure. thank you, alicia. >> checking stories making headlines around the world -- russia has added a new dimension to its military campaign in syria. warships in the caspian sea have

launched missiles at a leve11 a 11 targets. it is troy command posts and terrorist training camps. the syrian observatory for human rights says five people, including children were killed by russian bombs in hamas. iran's supreme leader has ruled out direct talks with the united harms with what he terms to his country's interest. he says talks will open the door to what he called u.s. penetration of the islamic republic. they say japanese and european companies are investing its oil industries when sanctions are lifting. china has expressed little interest in new projects. sepp blatter's controversial reign of rolled football could be over. one of his advisers says a fifa ethics committee has

requested the president be suspended for 90 days. he has already announced he will step aside in february. fifa's investigations will continue before a final decision is made. rishaad: it is rugby after the break. are back. the latest from the world cup when trending business returns. ♪

rishaad: now asia's worst performing currencies have been reversing their losing streak. the rupee going up sharply after multiyear lows. let's go to our southeast asia correspondent. has, what have people been and prospects of a rate hike in the u.s., but now sharp gains are helping central banks. it is undermined investor confidence. it is rising the most in 17 years. the rupee climbing the most in 15 years. investors are covering one-way bets. that is a sign of getting into the market and there is a higher

chance the fed may not raise rates this year. the rally started on monday and has since picked up. all the malaysia currency is rising, contributed to the biggest and nine months. that, the rising crude oil prices. investors buying back indonesian assets of the two days, they pumped and $82 million. for now, risk appetite is back. the question is for how long? has, one of the pundits saying about this? haslinda: there are still huge concerns. slow growth in china and the rest of the world. the imf cut its global gdp outlook two days ago. we also have a weak commodity outlook. that will continue to weigh on commodity reliant countries like malaysia, indonesia.

indonesia's deficit is also another issue. that iss. rate hike -- all negative for emerging-market currencies as a whole. all things considered, the risk is that the rally will not be the same. rishaad: thank you, haslinda. joining us from singapore. the rugby world cup rolling along. we have the latest headlines. thrashing the usa 64-0. it is the first time a team has failed to score in this world cup and the fourth time in history. georgia and namibia were close. they pick up the first ever world cup points for georgia. no games on thursday. south africa back to their are

always. scoring three tries. they have equaled the world cup record held by new zealand. south africa facing japan. in 2007.ed three times that is when they won the tournament. up next, the unlikely partnership of china's internet giant. s. ♪ 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. i just had a horrible nightmare. my company's entire network went down, and i was home in bed, unaware. but that would never happen. comcast business monitors my company's network 24 hours a day and calls and e-mails me if something, like this scary storm, takes it offline. so i can rest easy.

what. you don't have a desk bed? don't be left in the dark. get proactive alerts 24/7. comcast business. built for business. ♪ rishaad: these are our top stories. -- the shanghai composite surging more than 3% after a weeklong holiday. the boost in markets is helping as well. policymakers are increasing policy stimulus after five interest rate reduction since november has failed to reduce the slowdown. the standard dealing finance business. $575 million in additional capital.

it is planning to raise by selling shares to institutions. executive'sief strategy is focusing on businesses that shelter the business from banking. deutsche bank bracing for its worse results in a decade, forecasting $7 billion losses in his third quarter after writing down the value of its two biggest divisions. it says it may cut or even cancel this year's dividend. the executive clearing the way to shore up capital to boost profitability. china returning and coming back online with a golden week boost. the japanese and hong kong equities dragging the regional indexes. let's find out what is happening with your money. here is juliette. juliette: if your money is in a shares, we are doing ok. we are seeing it up by 3.4%. executive saying

china is not something to be fearful of. appears to be right because investors are buying into the market. in hong kong, the h share market coming up the recent good run we have seen. that is mainly dragged lower by some of the energy players that have been rallying over the past week in the crude oil price. japan heading into its lunch break also in the red, down by seven pence of a percent. japan stimulus has widened and laying into things elsewhere. in australia, is looking pretty good. weakness coming through in singapore today. this is the picture on the overall asian benchmark. six sessions of gains. the longest win we have seen since april 14 but in the red at the moment due to the closing jet and and hong kong -- japan and hong kong. consumer stocks dragging. let's have a look at what are

the major performances. living the shanghai composite in terms of index points and market cap, petrochina is looking good. it rallied 17% during golden week. anurers, china life and ping looking strong. these are the three stocks dragon. dragging. in hong kong, falling off the energy stocks. china mobile is off almost 2%. japan tobacco is also going down. rishaad: looking at they ranks of those recovering in japan. news of a surprise slow down on the factory for machine orders for the third consecutive day . it is notoriously difficult to predict what is happening with machinery orders. just like with goods in the u.s..

>> they are quite volatile but this is a sharp drop. very surprising. something we were not expecting because there are few signs of recovery on the factory floor. taking a look in august, the machine orders fell 5.7%. the forecast was for 2.3% so we were supposed to see some type of pickup here. that demand isng only going to be temporary. now's three straight months of decline in machine orders from the economy. the slowing asian economy also a downsize risk. they say from the third quarter, we could be in the red when it comes to overall machine orders. let's take a look at the rest of the numbers. current account balance coming in at ¥1.6 trillion. the forecast was for a fall but it remains the 14th month we remain in a surplus. trade balance -- this was pretty good. they were expecting the trade deficit to widen three times.

we did see that but it was narrower than expected, the deficit. 326,.1 billion yen. we have seen some strength during the month of august. exports fell. imports also fell three point ones present -- 3.1% but should have offset it. a lot on the plate but it is not looking good today. rishaad: talking about bank of japan governor's, they are saying there is no need to do anything with the stimulus. that presents a much pressure to do that. the comments, it seems as though people are trying to egg him on to do more. yvonne: it seems like the bats are piling on october 30. they would try to continue to expand policy here. it seems like what he said was that we don't need to. rishaad: he is not hinting at it. yvonne: he compared to what

happened last year when he had to expand which was shocking. he says consumer prices are different. companies are seeing prices rising. he is seeing some pickup in inflation which was different from 2014. rishaad: thank you very much. let's quickly check on the other stories. upping the bid for power asset holdings. asia's second richest man offering $2.4 billion. he's trying to institute a special dividend to shareholders by raising that by 50%. ka-shing is trying to combine the company, all of it to strengthen the hong kong utility market. japan rates could go up $12 billion in its ipo after setting a tentative price range of $11.67 a share. final pricing will be later this month before japan listed on the fourth of november.

it to be the biggest debut since 1998. some of the proceeds will be reconstruction and that is following the 2011 earthquake and tsunami. the new mobile payments will not affect its bid to china. it was breached a month after it was bought by samsung as a rival to apple pay. samsung says no custom information was lost. it made his debut in august and rolled out to the u.s. last month. now, let's take a look at china's top internet names which could be joining forces for the second time. we are talking about jack ma and and tencent.ibaba it would combine websites that would have news reviews and others on the same website. why would they work together? >> we are looking at the

combination which would actually occupy the dominant market share. both jack ma and tony ma are business savvy people. at the end of the day, they do want to burn through cash are these portfolio companies. by combining them, they would actually align their business strategies and put more pressure on their competitors, including baidu. rishaad: funding in china's venture-capital space seems to be tightening. how does it really affect the companies trying to raise money? lulu: it put a lot of pressure on companies in late state growth changes, specially companies that have gone through several stages of fundraising. you are seeing investors becoming more cautious of putting money into companies that don't have a clear business model yet, but do have a large market share in the market and actually lots of users. rishaad: thank you very much,

lulu. now, twitters cofounder had a sometimes strained relationship. the decision to pursue or persuade jack dorsey to return as ceo is correct. he is the best man for the job. emily chang and brad stone in san francisco. >> we thought long and hard about it from the beginning. everybody knew that jack was capable and had a unique perspective on the company. there is a question of could he do both the twitter job and square job. so, we wanted to see what our options are. that is our job as a board to look far and wide. eventually, without the combination of what jack brings to the table and what he already had done in the last three or four months convinced us he was the best person for the job. emily: so, how do you really

feel about the fact he is doing two jobs? elon musk was on stage saying he does not recommend it. evan: i don't think jack would recommend it either talking to him. he has his commitment that's where and it is not ideal. nobody would say this is ideal that we want anybody's time split. it did not change the fact we still felt he was the best choice. brad: your work is not done. you want to reformulate the twitter board and find a new chairman. what are you looking for in a new twitter board and chairman? evan: i think we are at the beginnings of figuring that out. i cannot speak to that too much. we were fully focused on the ceo search for a while. it was not until we knew what we needed in the board. he will obviously play a big role. the chairman and ceo need to have a good relationship. brad: a lot of attention has been paid in the past to the ev-jack relationship.

how is it doing now? evan: i think it is better than it has been in years. i joked that twitter is like our mutual child. we had come together and we hold its future as our highest priorities. we see eye to eye when it comes to the future of twitter. rishaad: up next, the debate. the u.s. surgery executive giving his views on a rate hike. we are getting larry summers views next. ♪

>> welcome back. taking a look at the stories making headlines. president obama has apologized for the american airstrike that killed 22 people at a hospital in afghanistan.

the u.s. said it was a mistake but declined to apologize. in the. commander country says the attack broke military roles. increase are underway -- one by nato, the defense department and a joint u.s.-afghan group. the defense contract has demanded an investigation. the son of ferdinand marcos has launched a campaign for vice presidency, saying people are no longer concerned about human rights abuses under his father's role. the biggersaid worries are standard of living. his father declared martial law in 1972. exile.e was driven into north korea is building up to saturday 70th avenue nursery --

anniversary. they said the celebration will be world-class featuring thousands of ordinary citizens. there are reports that kim jong-un has ordered north korea's biggest ever show up force which could include missile launches. incidentally, the kcna state askedgency says it has washington to have a peace agreement ending the war. funds --turning to the the fed was right to hold off on a rate hike last month and says there is no shame in delaying further. it is not the only one backing the decision. the former treasury secretary larry summers gave his two cents. larry: there is no reason to raise rates until you see the likes of inflation. i look at the data out there and

i don't see inflation as close to the horizon. >> i'm not saying the fed is asleep at the wheel, but they have said the fed is behaving like they are completely scared, scared of the markets, scared to do anything and that is reckless. steve schwarzman of black stone said the cause of the next financial crisis will be the government, regulators. there is a big negative sentiment about the fed's inaction by notable investors. are they just wrong? larry: i think they are. we offer for that the economy was stronger and that the right thing to do was to raise rates, but wishing it does not make it so. seven central banks around the world in the last few years have followed the reasoning of the people you quote. things are a bitseven central be

better, zero is a problem so we will raise rates. seven central banks that raised rates have had to retreat and pull them right back. fed'ss not what the credibility needs. stephanie, last night, i was in the other side. i thought the right thing to do was to keep rates at zero which is what the fed did. couldsee how last may you reasonably have made the argument there was growing enthusiasm and we had been at zero for a long time and it was time to raise rates. i don't see how you can look at third-quarter growth forecasts that are running at about 1.5%, 1.5% -- that is close to stall speed. when you are at stall speed and you slow down, it is not good what happens next. >> if you had been chair of the fed, would you have done things differently than what has been done? larry: i feel a lot of at ration

for what janet yellen has done. i think it is very hard to try to second-guess without seeing the same data flow and full context that people do. i know at various moments when i have been in office there have been people who have been out of office who had been in office before who had all kinds of comments about what we were doing. i just knew that if they knew all the things i knew, they would be saying something different. while i willthat issue -- my opinions, i will not second guess what officeholders were doing. but, in all seriousness, i have great respect for janet yellen. issue -- my opinions, i will not second guessstephaniu give her? to give her an "a.?" larry: i would give her an

incomplete because her term is not yet over. i have great respect for janet yellen. former treasury secretary larry summers. we are atg note -- one family's enduring love with jewelry. the shop blossoming into an operation that encompasses the middle east and asian elite and royalty as well. them about their favorite memories. >> my favorite dimon is the 218 -- diamond is the 218 karat. he named it the star of macau. that dimon is 218 -- diamond is 218 carats. it is the largest diamond in the world. >> was it something that was presented to him and he got interested? >> we presented it and he got

interested. well, we have the social media snapshot on the way. find out why youtube's latest update to its site looks more like a downgrade when trending business continues. ♪

rishaad: let's take a look at the stories making technology headlines. sony's restructuring may be working. it says the business has made its halfway recovery point. he says the company is ready to expand. sony targeting it ties profit in 17 years.

also giving up the rights to its famous tunes. the company is considering selling a part of its music publishing business. the unit owns copyrights from songs by the beatles ann taylor and taylor swift. a clause in the contract allows one party to buyout the other. mobileworking on a publishing platform that would alert news on phones. via theproved experience of creating faster and more open mobile web. facebook and apple have safe -- similar services. the product is still in testing and not available yet to the public. let's have a look at what is going on. one company which google owns is making headlines on social media. .

>> do you make any videos on youtube? >> we have made resume tapes. >> i hope they are not still on there. that is christmas party material. sorry i brought that up. youtube has changed the way it looks and added allegedly some video editing features. not being received well by the youtube community. those who do edit. i caution you, if you do a search for editing videos on youtube, you should be careful because certain content comes up that you may not be interested in which i found this morning. watch yourself. make sure the kids are not around. those were tweeting about this say congratulations for obtaining the worst update. yvonne: you have this problem sometimes when you go to a store

and say what am i going to pick? there is the answer for the use of neuroscience. they have this new system that launched in sydney this week and it has a sensor on your forehead. it matches your mood. you watch videos and you have to tell them how you feel about every one of them.and then they find the perfect t-shirt for you to fit your mood for the day. mixed responses about this.people are saying this is cool and they want to try it out. one person is saying where is this? hopefully it will remain a gimmick. some people saying for the record i actually like this. the t-shirt that it chose for me, i love it. this was actually designed by a japanese company. the sensor was made by a another company. ithe experiences about engaging with its customers. they are not trying to do any research about preferences.

an interesting tool. it may be expanding to melbourne next week and possibly other parts of the world. zeb: those with multiple moods and multiple personalities -- some extra time there. that is a check of our trending stories on social media. do not forget, if you use twitter, stay in touch with us @trendingbusiness. follow both of us on twitter. that is today's check of social media. rishaad: before we go, the latest art sale in hong kong -- it is a good thing china's appetite remains reasonably strong. asian art and jewelry worth nearly $350 million. that is more than what dealers were expecting, but short of the record $540 million we got two years ago. the top one was an 18th century portrait of an emperor. it was knock-down to nearly $18 million.

that is it for trending business. angie joins me as we recap the big stories of the day. including the return of china after the golden week holiday. ♪

>> with all due respect to vladimir putin, happy birthday, stud. ♪ >> speaking of russian, joe biden is not rushing to get into the race. he put out this ad that highlights his personal story. the latest poll also has good news, the most honest and trustworthy potential candidate