disputes in the headlines today. he said he is committed to free passage through the reason -- region. don't forget to use that #as well. hashtag as well. . a mixed bag out there here we are seeing gains thanks to japan. shanghai doing a reverse of fortunes. that recovery sloping in october -- slowing in october. the hang seng continuing its rebound. the miners continue to drag down the index by a fifth of a percent. in terms of the miners, bhp.

it's down 3% now. 21%.ng below china, here are the big movers. -- theg trading today hong kong shares. partnering with baidu to invest in direct banks. million.bout ¥2 that partnership boosting shares a little bit on the first day of trades. strength, newing headlines about tighter controls from its state-owned parent. seven executives were under investigation for government probes. sources telling us there could be possible shakeup in management.

the chairman will step aside. exchanges down 1/10 of 1%, but charles lee saying shenzhen stock link is unlikely. even after the formal announcement, it may take two months before they can get things started. as they announce that china is expanding the trading quota and the number of eligible shares for that chain kang -- shanghai shock -- stock link. rishaad: home prices in china, recovery slowing, supply glut as they try to revive the market. some of the facts behind the numbers. >> the number of city seeing price games on new homes fell in october. the pace of gains in those cities slow. prices writhing in just 27

the cities tracked by the government, down from 39 in september. it breaks a string of seven consecutive months of more cities recording price increases. since june,t time more cities saw price declines been a price gains month over month. 33 cell price declines, 21 cities in september. -- 33 saw price to kleins, 21 cities in september. relaxation on second-home purchases. that is starting to wane. there is a glut of unsold new homes in third and fourth tier cities. that is challenging efforts to revive the residential real estate market in china. we have had six interest-rate cuts in a year. more easing of mortgage restrictions, and now these

numbers out in the last half-hour, more cities with price declines month over month of than those seeing gains. unsold new homes, increasing 14% as of october 31. that, along with surging land costs, is hindering development. they are growing increasingly costsus that as land previous in the quarter. i won to break down some of the top-tear cities our viewers are interested in. shenzhen has led the way this year in price gains. they saw the pace of price increases month over month decline in october. shanghai saw a slight pickup. back to you. detailedwe'll have a look at that story later.

to mentionsn't want it, washington says it is bound to,. we are talking about the south china sea dispute and how much play it will get at the apex summit. president obama has been commenting on this, hasn't he? >> he has. i just found out that they just cleared the driveway leading into the main entrance at the lobby. we are expecting the u.s. president to come in any moment. on that note, the conversation has shifted towards geopolitics. he is set to make a speech and will have a conversation and a dialogue with the audience in about 10 minutes. already hadaid, we some lines from him on the south china sea issue and paris. both steps are needed to reduce tension and the south china sea.

following that, he also said china needs to stop land reclamation to reduce tensions there. the u.s. is committed to maritime security. apart from that, he talked about paris and how the objective was from the very beginning given developments we have seen to unite the world against isis. he has always welcomed russia into the fold. we know that russia and france have outlined their interests this andomes to setting aside the differences. we did hear also from the russian prime minister when he landed early. he spoke to the press, and what he basically said, dmitry medvedev, you have the egyptian , the parister attack, these reflect war being declared on the civilized world.

russia can do it alone, but it would be better to have partners in joint action. it really makes this upcoming talk of president obama, and after that his keynote speech from the chinese president sitting thing -- prime minister shinzo abe -- president xi jinping all the more important a watch. rishaad: let's have a look at the latest developments. russia welcomed into the military front against islamic state militants. the navy toe using support attacks in syria. president who didn't saying they will work as allies. the french president will travel to moscow, and then the white house to plan a new strategy, adding its voice to its campaign. saying it should be a can or donated -- a coordinated fight

against isis. continue their attack, destroying a command center. the second set of raids against the militants were carried out overnight with 127. the french president said they will spare no effort to destroy the islamic state. as the investigation gather speed, cancellation of another high-profile event in hanover, a tip had been made that a bomb had been place. no arrests have been made. e's play in england went ahead as scheduled. we have around of now. , a fretful time to be

working in china's financial sector, arrests, detentions, investigations. the trillion million dollar markets meltdown. anxiety is palpable because the government crackdown on shortselling, insider trading . china's hedgeof funds have stopped trading because of how sensitive these conditions are. the effort to find the cause of the crash has stepped up. there has been the arrest of the man known as the "king of ipo's" as well as seven employees at citi securities. jim pan, is this as good as it gets from the boj. -- japan, is this as good as it

gets from the boj? they wrap up the policy meeting on thursday, dismal q3 gdp numbers, a second session -- recession for japan in three years. opposition lawmaker says he is scared of the 2% goal being met. he used to be an advisor to george soros and says that when the target is met, the boj will stop buying assets, causing asset prices to crash. proven -- predicting a default for japan over the past two decades. workers in india set to go on strike. involve 17,000 staff at the reserve bank of india. the unions want the government to stop taking power away from the central bank and pensions that better reflect rising

living costs and way tracks. it could impact bond and fx settlements. this is the first strike under the new governor, spearheading the largest overhaul and the bank's history. in july, a draft bill that would have given the government control of the monetary policy attracted widespread criticism. that has led to the actions where expected to see this week. back to you. at how: we are looking investors seek clarity on myanmar. program, global returningar, the yuan to strength, sparking speculation that china is ready to attack. china property prices losing september momentum. the latest numbers when trending business continues. ♪

rishaad: the recovery in china's residential property market has slowed. let's get more on what's happening with this property market. thanks for coming in. what was your take away? >> there has been some tightening in some cities. that is probably the reason for the slowdown. even moreftly go up next year. rishaad: is it because it is eating managed? there are a lot of other restrictions in place. -- is it because it is being managed? of promotion by

developers, indeed there is a lot of leeway for the government to actually figure out what to .o with the property market restrictions have been on for four years. rishaad: where is that pent-up demand? is it in the tier two cities? in the tier three cities? >> it is all about the first and second, and the economy is quite lackluster. rishaad: what are we expecting

in 2016? you're saying this path is going to continue. first and second tier cities, price growth will be positive. it depends on which cities we are looking at, 10 percent to 20%. rishaad: what about real estate investment right now? you said it is looking quite sectors -- sluggish. that has consequences down the road, doesn't it? >> yes. the fact the third of the cities are losing population by 2014, so they account for 65% of china's growth area being sold. it's no wonder that the overall construction number is coming down. rishaad: you look at those

equities and some of those companies which are more geared towards those top two tiers as opposed to three in for when you're making a decision? >> companies are geared towards the first and second tier cities. we do have some names that are geared towards the rest. we would say avoid those geared towards the third. the first and second tier cities are not great for developers because all the competition is coming in, so you are in for one or two years of consolidation. it is very competitive. you have to wait for the profit to come through much longer. rishaad: let's talk about hong kong. one house is predicting a 30% correction in property prices. >> we are looking for 17% price correction. rishaad: over what time? >> over the next 24 months.

the reason we don't expect big price corrections is because hong kong has a lot of pent-up demand. it prevents people from upgrading. a lot of people wanted to upgrade and could not do it. you got all this demand stored up. this pent-up demand can be released. rishaad: interest-rate hikes by the fed will also dampen things down. >> they think that will be quite a small one. hong kong is not that leveraged in terms of its housing. we need to put down 50% as down payment for flats over 10,000,001, so i don't think in interest-rate hike will do the

trick. rishaad: great to see you. the stories making headlines. have diednow known to in southern india in floods caused by torrential rain. at least 10,000 people were forced from their homes. the army and air force are helping with rescue efforts. the storms have affected 80,000 people in sri lanka. the metrojet crash was the work of terrorists. president putin said investigators have confirmed the attack and called it one of the bloodiest crimes in russian history. his comments followed u.s. and british warnings that the bombs may have down brought -- brought down the airbus. everyone on board was killed. russia said they would find and punish the perpetrators. minister --israeli prime

minister benjamin netanyahu has given approval for 400 homes. israel has been building settlements around east jerusalem since 1967. the aim is to prevent the city in divided among jewish-arab lines. lookad: up next, having a at what barack obama is likely to say at the asia-pacific economic cooperation summit. these are live images. president obama addressing the asia-pacific economic paired likelymmit to be on topic there. china saying it solemnly and with a time anger at this is "trending business".

this is the scene, president barack obama speaking at that asia-pacific economic cooperation summit. >> -- a storm that claimed thousands of miles and cost billions of dollars in damage. we know there is no single weather event that is caused by climate change alone, but the patterns and science don't lie. temperatures and sea levels are rising, icecaps melting, storms strengthening.

the worst prevent effects of climate change before it is too late. the time to act is now. it will affect people's bottom lines. agricultural production will be impacted if we do not get on top of this. , we will beruptions it would to price the cost. insurance companies are already factoring it into their determinations. that is why in paris two weeks from now we have to come together around an ambitious framework to protect the one planet we have while we still can. the good news is that more than 160 countries, 90% of global emissions, have put forward climate targets for 2020. we have a lot more work to do. nevertheless, i am optimistic that we can get an outcome that we are all proud of, because we understand what is at stake. an ambitious agreement in paris will prompt investors to invest

in clean energy technology because they will understand that the world is committed to a low carbon future. that is a signal to the private sector to go all in on renewable energy technologies. get an agreement done, it could drive new jobs and new opportunities and investment in a global economy that frankly needs a boost right now. one of the topics of discussion at g20 was where can we generate sufficient demand. the united states economy is doing relatively well, but we are impacted by weakening demand around the world. china is undergoing a necessary transition in its economy, but that means it's growth rates will be not as fast. a lot of other emerging markets in somen slow growth or cases like brazil contraction. as a consequence, the

possibility for us to start investing in clean energy, power generation that is sustainable, leapfrogging all technologies and getting into new technologies, all could provide enormous boost, and there is a lot of capital of their looking to invest. that this issignal something that every nation around the world is serious about it, it can be an enormous generator of opportunity. so the united states is leading on this issue. since i took office, we have doubled the distance new cars will go on a gallon of gas by 2025. we are producing three times as much wind power as we were when i came into office. asare producing 20 times much solar power as when i came into the office, thanks in part to the investments i made -- we made. clean power from wind or sun is cheaper than dirtier, conventional power.

2005, even as our economy is growing, america has cut total carbon pollution by more than any other country on earth. other nations are stepping up as well. last year, renewable energy accounted for more than half of all new power plants around the world. for the first time, china has pledged to peak and reduce its carbon emissions. here in the philippines, you are posting wind power. asia-pacific economic cooperation is working to double renewal will energy and reduce dependency on carbon deals by 45%. the international community is helping to develop -- developing nations to adapt to climate change, and as i said, leapfrog over the dirtier phases of development. one of the things we have tried throughout this climate discussion is that there is not a contradiction between growth, develop and, and being good stewards of the planet.

they are come from entry. we have to break out of the mindset that says if we are doing something about climate change, that slows growth. we have to accelerate it. the fact is that president xi jinping and i were able to put forward an accord that sends a strong signal to other countries that we see this not just as a challenge, but an opportunity as well. is that problem governments cannot do it by themselves. the good news is that more and more companies are realizing that climate change presents a huge business opportunity, and we see this in america. google, apple, cosco are among the world's largest buyers of renewable energy. walmart has installed more on-site solar capacity than any business in america. last month, 81 countries have joined our american business act on climate pledge, and more pledges are coming in every day. these companies committed a

total of at least $160 billion in areas like clean energy, combating deforestation, reducing emissions and water usage. not limited tos big business trip we have small and folks up and down the supply .hain oftentimes they are saving money while operating in a cleaner way. we are seeing great examples across asia as well. the private sector is getting involved in renewable energy in countries like vietnam. in the philippines, we are seeing major investment in wind and solar projects. my message to you today is that your businesses can do right by the bottom lines and by our planet and future generations. we couldules that said not grow our economies and protect our environment at the same time, those are outdated. we can transition to clean

energy without squeezing businesses and consumers. when we double fuel efficiency, that is money in people's pockets. they are spending less money at the gas station. that is true across our economy. this is the way the world is headed. it's going to go in fits and starts. there will be some countries in some sectors that resist, but it is inevitable that we move in this direction, and i hope that the companies that are represented here see this as an opportunity. innovators are coming up with new ideas everything ok. my tworings me to partners here. -- innovators are coming up with new ideas every day. isa is an entrepreneur in the philippines who launch they start up that sells lamps that run on nothing more than saltwater.

she is an engineer. she will have to explain the physics around this thing. [laughter] >> i guess you've heard of jack. [laughter] >> he's not just the founder of alibaba. he also happens to be a leader on environment to issues like clean water and climate change. part of what we thought would be useful is to have a young, new heartreneur, a young at but not as young large entrepreneur compare notes about why the see this as an opportunity, why they think it is good business, as well as good environmental sense, and be moreollectively can supportive and encouraging of the kind of innovation they represented with that, we will begin our discussion. thank you. [applause] rishaad: barack obama there at

the asia-pacific economic cooperation about the benefits of clean energy, how no longer old business rules exist. he was adjusting how green energy can improve the bottom line. a panel taking place at the moment. quickly-- let's just have a listen to what else he is staying here. >> i know you have been passionate about the need to fight climate change. yount to get a sense from about why you think it is so important. i also want to get a sense that why you think business has a role in this process. in addition to the work you have been doing with nonprofits recently, you've also been in conversations with bill gates about the potential of turbocharging investment in the research and develop around clean energy, and we may be able to make some announcements about

this mission innovation in paris. give me as sense of what is to you from the vantage point of one of the most successful and largest e-commerce organizations in history. >> thank you, president. it's not the passion, is the concern. was 12 years old, i went to swim in a lake, and i almost died in that lake because the water was much deeper than i thought. five years ago, i went to that lake again. the total lake was dry. a lot of people have disease. the second concern was that i had a young colleague who died of cancer. very few people heard about cancer, but now most of the families, my friends, they have people who have cancers. , ife been working so hard we work so hard and put all the money in a hospital, by medicine, it will be at disaster.

environment healthy , no matter how much money you make, you have a bad disaster. it is the concern we have. we started six years ago putting 0.3% of the total alibaba revenue to enable all the young people to find a creative ways .o solve the problem the money is not enough. we use the money to wake up people's consciousness. they should know that the climate change problem. they should agree that the water is a problem, the food is a problem, that is what we think. after we are doing that, where is the opportunity? the opportunity always lies in the place were people worry. that is the greatest opportunity you have. after five years, this is a huge chance, bill gates called me

about inviting me to join together investing in the clean technologies. i think it is a fantastic idea, and i think me and the company believe that this is something we can do to contribution. ago, we are50 years big. if we do not care about this earth, the water, food, environment, i think nobody can survive whether you are big or small, so this is the concern. this is the worry i have. mentioned the need for continuous innovation in this area, and that is why we isa here. jack remembers when he was starting his company. as an engineer by training, you had an idea that could both do

well and do good. tell us a little bit about what your idea was. tell us about salt. ast lessons have you learned a young entrepreneur in terms of making an impact? >> let me take this opportunity to express my deepest appreciation for allowing me to be with you, mr. president, mr. ma, and allowing me to share thoughts on a more serious matter like climate change could it is an honor. it salt.r and i found address the light inequality gap, first in the philippines, by focusing on the people at the bottom of the pyramid, because it comprises 15% to 20% of the country's

population. of these families live on island communities and they are not connected through power grids, so they mainly use kerosene and fuel-based lamps is the main source of lighting. that kerosenenger lamps pose. it can cause fire accidents. why.is the main reason what we want to do is provide these people a lighting option that is more cost effective, sustainable, and environmentally friendly by a way of a lantern that uses a s ofne solution as i mean power to generate electricity. led, a be able to power usb port, where you can charge mobile devices like your phone.

that is how we are trying to contribute in terms of climate change. we are starting with the lamp. impact see, the huge that will be able to contribute developing ainto large scale for the technology we have. just imagine if you will be able to power up a whole island using ocean water. that is what we are trying to aim for. >> that's great. [applause] >> just to be clear, with some salt water the device you have set up can provide, am i right,

eight hours of lighting? >> all you need to do is to replenish the solution and you have another eight hours. $20?e lamp is it will last you for -- there is a consumer of open side you have to change every now and then. the main science behind the lamp is a chemical reaction. you are trying to convert chemical reaction to energy. something inside you have to change, but you only have to change that every six months if you are using the lamp eight hours a day every day. that only costs around three dollars. you are going to sustain the lamp to spend six dollars annually. you potentially save within a certain amount of time, you are already saving enough on kerosene to pay for

the lamp, and from that point forward, you are basically but an a modest amount important amount of electricity that you can use for a wide variety of purposes. >> yes. >> i think this is a perfect example of what we are seeing in a lot of countries, young entrepreneurs coming up with leapfrogging technologies, in in largeway that portions of asia and africa the old landline phones never got set up. people just went straight to mobile, and obviously they are buying stuff from alibaba there all the time. [laughter] didhe point is that they not have to make some of the massive infrastructure investments. this is part of the reason why andold idea of development

in sustainability is outdated. a big issue of how we can do more to support young onto printers. -- young entrepreneurs. jack, you had the benefit of being on both sides of the equation, young entrepreneur scratching and clawing to get things done, and now a very successful businessman. how can both government and inger companies be assisting creating the climate for innovation that encourages young entrepreneurs. tax, so nouce the tax for these guys. [laughter] [applause] you got a lot of cheers from your fellow ceos. abouteel so excited

hearing the stories of a startup, like a baby. i have five babies so far. >> do you love them all equally? [laughter] >> you have some favorites. alipay, thesellie are the kids i have. nobody can help you. we can only help ourselves. ,nvestors, government, partners you are the father, mother of the kid. don't give up the kid. kid and aout our passion, it all sounds crazy, but you are the guys who take care of the kids. we are ao is that platform. our job is to enable.

sold $14.5 billion. we don't sell anything. we empower other people to sell. we empower the other businesses to realize their dreams. , they have apany app. they normally deliver things from the city to that city, but when we come back -- so the application is to make sure all the truck divers can find. our technology and platform try to empower this country. last year alone, they saved 1.5 billion u.s. dollars because of the thing. i think using the technology in innovative ways, and big companies, it's difficult to put big companies to keep innovation keep going. the innovation is always -- for

us, when we see companies like but the are excited, money inside, using technology, and also promote them on our platform. isa, what has been the biggest challenge for you in scaling up? she has one a lot of prizes and gotten a lot of attention, so this is not one of those infomercials -- [laughter] >> -- you order it and you can't make the thing work. [laughter] [applause] , what have been the canest challenges, and how the public sector and private sector be more helpful and encouraging young entrepreneurs? >> based on our expense, what we need care is like a support system.

we have the passion. telling you mind me the back story of how we started. the main inspiration of coming up with the application, lighting application, was when i -- in theonal mountains. becauselearned a story the public transportation people had to walk six hours down the mountain to get kerosene for their lamps. they do that every other day, so we have the passion. what we need is a support system both from the private sector and us, guide to mentor us, how we can scale up the product or the project. yes, we also need a lot of support in terms of funding, so that's where our main challenge right now. we are in a critical phase, trying to mass-produce the lamp,

so we are looking for someone to fund us to get the project moving. [laughter] [applause] >> so serving as a matchmaker here a little bit. [laughter] things, and i know we are running out of time, but i want to comment on them. first of all, i do think there is a role to play for government and providing tax incentives for the production of clean energy. what has been interesting, if you look at solar -- talking torack obama a young philippine entrepreneur and jack markell, the founder of the founderack ma, of alibaba.

we have stocks on the way up for a second day. china market weighing sentiment down. the trading volumes overall, and especially hong kong, pretty low today. down nearly 40% from the three-day average. the shanghai still seeing some losses. japanese shares lifting the regional index. now they are in a lunch break. malaysia, singapore, australian stocks all in the red. macau casinos in vocus pit we just heard from the chief executive talking about how this slump in gaming revenue -- macau casinos in focus now. we just heard from the chief executive talking about how this slump in gaming revenue is affecting the climate there.

galaxy, sands china, wynn macau, all under pressure now, down 3% for galaxy entertainment group . for advantest. iron ore sinking to a four-month low. the steelmakers pressured by all of this. back to you. we have to take a break. on the other side, more action. china home prices as well. this is "trending business". ♪

>> the stories making headlines. beijing reiterated that reclaiming land in the south china sea poses no threat to its neighbors. the foreign ministry says the work is intended for civilian use and improved navigation in important trade routes. lighthousesilt to on islands claimed by philippines. bhp paying further damages for the disaster in brazil. 11 people killed when the dam holding back wastewater failed. the torrents left hundreds of people homeless and polluted a river that local communities rely on for freshwater. now facing a civil lawsuit for environment of damages. that could be as high as $2.6 billion. former new zealand of the star

has died weeks after watching the all blacks retain the world cup in england. he passed away unexpectedly this morning in auckland at the age of 40. he changed rugby forever when he start at the world cup in south africa in 1995. scoring73 appearances, 43. he was forced to retire early in 2002 because of a rare kidney disease and received a transplant two years later. rishaad: thanks. home price recovery slow down and october as supply glut, challenging official reference to revive the markets. a look at the numbers and what it really tells us. the recovery we did see through most of this year is starting to in. maybe some of the stimulus measures are teetering out as well. as well as the oversupply, the glut, unsold new homes,

especially third and fourth tier cities. we can see the number of cities that saw price increases. this is out of the 70 cities tracked by the government. as you can see, seven straight months of more cities seeing increases, rising to a peak of 39 out of 70 in september. inhas fallen off to 27 october. perhaps we have seen that. let's change the page. let's look at price declines. the opposite trend here. the early part of the year, most cities were seeing price declines, improving, improving, and october seeing an increase. sinces the first time june that more cities saw price declines than price gains. that is the inflection point. rishaad: what about the cities themselves? tier one or tier

two cities, you are ok. inventoryve massive issues in the third tier and fourth tier cities. you have to work off that excess inventory before they can see any kind of recovery in those cities. what we did see in the top tier cities, especially singin -- illustratest this that the price increases we are seeing in october art smaller than the increases in the previous month. beijing saw only a slight -- shanghai, yes, but again, lower than august. i have the figure right in front of me. it was up about one point 6%. -- 1.6%. there we go. shanghai is the one aberration. inwas 5% month over month

august. the steam is being taken out of those tier one cities. rishaad: and that huge access supply problem in the more minor cities. >> that is the big issue now, a glut of unsold new homes in third tear and forth your cities. rishaad: thank you so much. the momentum in china snoozing of it. we've also been tracking what barack obama has been saying about climate change. these are the scenes, he's holding this debate with jack ma and young philippine entrepreneur. that is it for this edition of "trending business". we recap the big stories of the day.

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. ♪ announcer: from our studios in new york city, this is "charlie rose." charlie: we turn this evening to paris -- 129 people were killed in a series of terrorist attacks on friday that targeted civilians at bars, restaurants, a concert hall and a soccer stadium. the attacks followed two suicide bombings in lebanon and a downing of a passenger plane over egypt. isis has claimed credit. president francois hollande called the attack an act of war and promised a response. french authorities carried out anti-terrorism raids today and