falling sales at product. paradrada. you let us know what you think of today's top stories by following me on twitter. don't forget to include trending business. gettingin indonesia underway. we have a look at the market so far. jakarta keeping with the overall theme. almost 1%. we're seeing very strong gains .cross the region we have a strike -- slight improvement in oil.

we're seeing strong gains out of sydney, up almost 1%. the nikkei 225 also extending gains, up by over 2%. a bit of weakness in the yen helping out there. we're seeing that bounceback in commodities, helping out sentiment, especially oil producers, basic minors as well. 2%. kong up by shanghai on hanging on, up by 4/10 of 1%. let's look at some of the movers. , thew the currency effects yen expected to see a further downside as the dollar strengthens on the back of a fed great increase. yahoo japan has bounced back after heading lower. a announced a purchase of site to boost its online travel

service. we're seeing gains out of automakers, retailers recovering today. down under, gains led by the big ners. were also watching for oil related names and terms of oil and engineering firms. a quick check of oil, we are seeing the beauty i give back some of those gains made overnight. down about 3/10 of 1%, not 36.88.too much, the chinese currency, the longest streak of declines since 2007. the central bank of china setting that great for an eighth

straight day, a ninth straight day of weakening for the yuan. this appears to be part of the cbo sees stress test to manage expectations for depreciation ahead of the fed move. yvonne: thanks so much. investors taking on a lot of risk appetite ahead of the fed decision. david is looking ahead at what we should be watching. it is the final countdown, what is on this list? >> finally we are here. let's point out that the odds are for a rate hike happening early morning in asia tomorrow, 76%. most investors are positioning as if the fed will move, which

highlights the risk of a turbulent session. watching, a we are story on the website, on the , i've summarized the 4.4 you of what we are expecting to see. we will have a post-meeting statement. four ofe summarized the them for you and what we are expecting to see. we will have a post-meeting statement. expect every word to be scrutinized, specially guidance and trajectory for future rate hike's. s. you will have inflation targets, and whether they do link them. how much they considered what is happening outside the u.s., and even the recent job in junk bond yields. equally important, third point, the discrete of dissent --

degree of dissent. i think what is unique to this note,g is an extra implementation guide, operational details. watch, thesetes to are the rates the fed will be watching closely, another story on the terminal. timing up until friday 8:00 a.m. new york time. the most important is the fourth one, just after lunch thursday, the results of the first .vernight operation it th the rate itill be pays for excess reserves.

it boils down to how much the banks will lend to the fed and keep it out of the system. the key is the amount. if they offer up too much to the fed, they miss the target. it is a clear signal watching these five whether or not the first liftoff was indeed successful. very quickly, the first point, , money libor for you market rates, rates on commercial paper. a lot of this has been priced in. back to you. yvonne: we will have extensive coverage of asia's reaction to the fed's decision. get all the analysis from bloomberg television tomorrow. yahoo japan, it has agreed to buy a travel site for $834 million, a 42% premium on the

closing price. in our asia tech editor in tokyo. they're willing to pay a premium for this, why? right that is a large premium. not only for the share price, something like 12 times annual projected3 times annual profit come so a very rich deal. you have to think that yahoo japan does see some big potential here. there are reasons for that. siteuy who runs the travel , he has built a solid track record of raising revenue. the revenue has been jumping by dojo -- double digits every year since he started the company, so it has a good track record. to expand itsce

services in the travel business inside japan, domestic travel closely linked to the travel business in that people travel and eat. they have really nice meals. that is a big appeal of traveling. has built a strong track record of marketing that way, so this will help yahoo japan expand its offerings in the travel each and compete with rivals. and compete with rivals. yvonne: what can we expect? will job -- yahoo japan have more of these deals in the future? >> i think that is the way people are betting. thatactor for that is after being named chairman of yahoo japan, a long track record as a dealmaker. he has told us that he is

looking for deals. the vibrations are high in japan. the stocks of been going up quite a bit, so they aren't buying indiscriminately. they are looking for good value, but they also happen to have 500 ¥45 billion in net cash on the balance sheet, so they are in position -- ¥545 billion in net cash on the balance sheet, so they are in position to do deals. prada has fallen to eight record low after third-quarter estimates, net income fell to $51 million, while revenue felt more than 5%. a weektruggling with it market for luxury goods, and says continuing to terry nation in europe, asia, and america means more pressure.

their lineup of handbags has failed to attract shoppers. rada hasf weak demand, made lesson 1% of revenue online. raisens to cut costs and prices to offset slowing sales, and will seek savings without sacrificing spending on marketing. they say the price increases in europe are designed to narrow the gap with china, where products are more expensive. searching today in singapore, up 10.3%, after confirming talks to sell its agricultural unit. asia's largest commodity traver -- trader is seeking to raise cash. they are talking with potential buyers about a 49% stake in noble ivory, trading food

commodities from sugar to week. largest company is potentially one of the bars. -- one of the buyers. million for the stake. the aerospace division president -- rolls-royce will leave next year as the company goes through extensive restructuring. the new ceo is slimming the management ranks and splitting the engine maker into five segments, each reporting to him. the overhaul is the first step in a plan to cut as much as $300 million from the company's fixed cost base after profit warnings. month, the company was

unable to respond to changing market conditions, including slowing air parish and are -- air passenger demand in asia and declining oil prices. it will affect less than a dozen , and they'reons expecting eight new ceo of next year. back to you. yvonne: thanks. from mansions to monet, what asians billionaires bought in 2015. that is at bloomberg.com/asia. ,ater on in "trending business" a multi-year content deal with alibaba, more details later on. shaken and stirred, we look at the jitters being felt and bond markets ahead of the fed great decision. good morning. ♪

yvonne: as the fed prepares to high grades, jitters in the bond markets, concerns with high-yield bonds in particular. the two biggest jump on etf's jumped the most after touching six-year lows on monday. let's get more on this from the director of asia-pacific fixed income. everyone watching this pregame show. we see appetite returning, high-yield recovering, but when it comes to the fallout, is this just a beginning? thoseis the beginning for investors who have at call money in distressed debt. that is the wrong structure. you need to be global, diversified, if you're going to play these lower grade credit markets. ofnne: there was this era

low interest rates that led to the swelling in the debt markets. yellen just delay too much on the rate hike? >> asset markets have gotten way ahead of themselves. it will be interesting to see what happens on the equity side. debt markets are telling a different story, telling it for quite a while now. we will see what happens with the equity markets. i think the internals don't look so strong at the moment. emerging markets and junk bonds have been telling a different story for a while. yvonne: if we break it down by sectors, will this fall out spill over? is it just energy and resources that is seeing the collapse? >> we saw in the middle of the year, investment grade selling off more aggressively than high-yield.

bit of ated to get a turned back into the market now. everybody is to worried about the energy sec there, but it's -- 15% of the high yield. the other 85% is benefiting from low oil prices. yvonne: do you still see opportunities in high-yield or other sectors? you're running a non-concentrated portfolio, non-diversified, there's more opportunities as we get this locations. when we get depressed bond prices, we are trying to step in and take the premium out of the market. lifts: when janet yellen off, potentially, what's the first thing you will type into your terminal? >> an interesting twist could be that it's only 15 basis points or 10 basis points, the cousin she has already delivered a very dovish message, and the market is looking for something even more dovish than what we are

already expecting, so that could be the twist. i expect she will lift off, and we will focus heavily on what is happening with equity markets and how they deal with it. yvonne: any particular equities in particular? >> broadly across the whole index. bonds are well prepared. who does not know this will happen? there going to happen with the surprising the equity markets? will we see more than it wobble. d> it could be a risk on perio with less than 25 points. yvonne: in terms of the yield curve, inverted for 2016? >> the yield curve is extremely steep, so were playing that role in bond markets. it has been flattening out recently. the main reason is because

energy prices are taking a another leg down time meaning inflation rates coming down, which means you're still getting a high positive real yield and bond markets. yvonne: what about next year? are you trying to be more cautious? you think we will see 100 basin points -- basis points? >> it's more about what's happening outside of the u.s. we need to see what will happen in emerging markets in particular, will china bounceback? will we see better growth coming out of europe? i think that will influence the rest of the world rather than what is happening inside the u.s. a broad-based rising growth happening, so we feel confident about that. china could surprise in the upside next year. recovery,be a housing and that would put a base on the commodities and get people a lot

more positive about what is happening in the rest of the world. yvonne: i hope you're right. thank you so much. coming up next, the booming why gettingdeath, one's affairs in order has become a soaring trade in japan here it -- japan. ♪

yvonne: checking headlines around the world. united nations monitors ended their 12 year investigation into iran's nuclear program. that iran hadted experimented with a nuclear bomb technologies prior to 2009, but never to the final steps needed to produce a weapon. step closerto ron a to relief from western sanctions under its deal with six world powers. from washington say the

u.s. is going ahead with arms sales to taiwan, something denounced by china. the near $2 billion package includes warships, amphibious craft, and anti-take -- antitank and antiaircraft missiles. the report comes with tensions rising over the south china sea. a rocket carrying astronauts from russia, the u.s., and britain has arrived safely at the international space station. makeraft took six hours to the journey to the orbiting lab. automated docking was aborted for unspecified it reasons, but the russian pilot completed the maneuver manually. news,e some breaking australia's third richest man is in talks to return some of his casino assets to private ownership, according to people

with knowledge of the matter. we will continue to see if we can give you some updates. japan, a saying in bird doesn't mess up the nest when it goes. ofmight be true of the rest the country, where the aging population and the 2011 earthquake has made death a commonplace subject. it as prompted yahoo japan and others to take an interest. this isn't a wake. in fact, these people are not dead. this is the first of its kind, japan's ending expo, and business is booming, from the shiny to the snazzy, you can pick your own purse, gravestone, or coffin. why not try one out for size? >> i just got in. it's smaller than i thought. quite comfortable. >> death, once taboo in japanese

culture, has been transformed into a $16 billion business. preparing for the end, the phenomenon comes from a rapidly aging population expected to rise 27%, a record 1.7 million people by 2040. the 2011 synonymy earthquake was a huge impact that may japanese people think about death. it puts huge stress on the families left behind. eonompanies are cashing in, host 100 seminars the year. will,000, they prepare a pictures, and everything necessary to finalize your into. end. ready.el i should be some friends passed away, and i

thought it's never too early to be prepared. >> the thriving death industry may be flagging the growing as familyblem, shrink, more seniors are living and dying alone. many have not done what they need to do. elderly on putting their affairs in order, he has tried to prevent lonely deaths. >> it is important to live for others. what is important is to how we can live well. that is crucial. death is in the mirror of your life. >> look at it like the ultimate insurance policy for resting in peace. yvonne: let's go back to breaking news, crown resorts surging in sydney after australia's third richest man in talks to return some of the casino assets to private ownership, according to people with knowledge of the matter. the talks have not been finalized.

we have seen the shares fall 31% in sydney trading from a february high, now surging 8.5% now. china, alliet, bomb a streaming movies and shows -- alibaba streaming movies and shows. ♪ 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.

yvonne: top stories trending, tradersounding, shrugging off concern about oil and junk bond markets. shares rally from the lowest levels since october, hang seng climbing 2% to snap longest losing streak since 1984. traders pricing in 76% odds that the fed will raise rates since 2006 for the first time. profitng, third-quarter missed exelis -- estimates.

da, $51 million in the less than 1%t, online. ,ahoo japan buying ikyu offering a 42% premium above the tuesday close. everyahoo japan's biggest deal to bolster online travel and dining businesses. yahoo japan are little changed in tokyo. let's go back and take a look at what heidi is monitoring right now. >> that's right. a wave of buying after a difficult couple of weeks of selloffs in the region. madees feel like markets peace with the fact that we will see the fed raised borrowing

rates. we've priced in 76%. we're seeing some strong gains in china's future rates. the nikkei 225 up 2% around lunchtime. australia,s out of led by oil refiners and oil services companies. we're seeing a little bit of recovery today. the biggest jump in hong kong listed chinese companies in weeks. of theirthe cheapest global peers. gains, morgan- stanley saying it is less world about -- worried about capital outflows when it comes to the yuan.

also some sectors to watch out for as we expect to get that dollar strength when the fed basisith that first 25 points, as expected. some stocks we are keeping an eye on. refiners surging. petro china up by almost 6%, staging quite a recovery. the other story, crown resorts surging the most since february. february is when we saw the last largest gain. that stock is down 31% from that february high. we have news that australia's third richest man is in talks to return some of the casino holdings into private ownership. he has been speaking with private equity firms and pension funds about a possible joint bid

for the assets. aown resorts has a market cap $5.7 billion. cap of 5.7 been dollars. billion. bloomberg news economic editor has more on what to expect from janet yellen's statement and what it means for money markets. >> the feds benchmark rate is pay to borrow to maintain a legally required amount of reserves, but after years of quantitative easing, they have trillions in excess reserve. bank will raise the interest rate it pays on those excess reserves, reducing incentives for banks to make loans at a lower rate. at the same time, the fed will borrow cash from banks and other non-bank institutions like money market funds at a fixed rate in

exchange for securities. these reverse repos should put a floor under rates. wouldals expect funds trade in a range between the other two, at least that is the hope. we have never been at zero before, so nobody knows that the plan will work. just as important as what they do is what they will say. out thee to throw statement they basically used for the past five years and start from scratch. look for a change in guidance from being reasonably confident inflation will move back to toir twosome -- 2% product seeing actual progress. and a pledge their closely monitoring oversee development and the dollar. janet yellen will be very careful in connecting the dots during her news coverage, offering investors a logical

justification for what the fed is doing and what it sees ahead. indonesia's central bank will be one of the first to meet following the fed decision with discussions scheduled for thursday afternoon. let's bring in our indonesia economy reporter. good morning. how much will the fed affect the bank of indonesia's decision? >> good morning. it's interesting timing. when markets open in jakarta on thursday, they will immediately start digesting the fed move. anchor of indonesia has been oncerned about the rupiah the past year, weakening 12% against the dollar. further,piah weakens it will be a concern for bank indonesia. out of 20 economists surveyed, only one is predicting a cut, so

that coupled with the language of bank indonesia executives, they been repeatedly stressing the need to maintain rupiah stability over and interest-rate cut. rates, anddoes raise emerging market currencies don't weaken significantly or strengthen, and the feds language suggest further rate rises will be gradual, there is -- especiallynce if indonesian forecaster weaker than expected. yvonne: the forecast is likely to see a scene on hold, but there has been political pressure to cut, project fee from the vice president, so we'll policy get into that pressure? right, the vice president over the past six

months has been repeatedly expressing his view that bank indonesia should cut rates to support growth. economic growth in indonesi a will be around 5%. bank of indonesia is independent and takes its mandate as rupiah stability and inflation. it will be unlikely to heed the vice president's remarks. if anything, it would look like it was caving into political pressure. the president and finance minister being more cautious, and they seem to realize the importance of rupiah stability going forward. the bankeading about indonesia deputy governor, he --d the most thing difficult thing to assess is reaction. what are some of the other factors for policymakers to consider? inflation, which was the

highest in asia earlier this year, is trending lower now. for the first time in november, it was within the bank indonesia target range between 3% and 5%. under normal situations, that would be a trigger for a rate cut here it comes february or march, if that inflation rate stays low and the rupiah has not weaken significantly, then i think all the signs are that bank indonesia will cut interest rates by 25 basis points, and perhaps will more time later in the year. yvonne: thank you so much. we count down to the fed meeting and the indonesia bank meeting as well. those banks meeting after the fed decision. some stories we are following, thailand, especially telecom after some double-digit

gains on tuesday. companies surge more than 10% amid bidding for 4g licenses. the gainshelped across asia. they're looking to gain $1.5 billion from the licensed sales. some say the auction may turn into a lengthy bidding war because the frequencies for sale work in rural areas. hsbc raised its rating to buy, saying that 58.com is set to dominate the advertising market following mergers with rival sites. overnight, and about 56% this year. sources say a bidding war is brewing for the beer labels sold to facilitate the merger of sab miller and abm to have. private equity

firms are all said to be interested in two brands. it will smooth the way for the big deal. bids are due in january. is beefing up its presence in china, teaming up with alibaba to stream movies td shows via team all -- mall. what does disney life do? >> it allows customers in china to access disney comment -- content, games, and also supplies some kind of travel service, trips to disneyland resorts and shanghai and hong kong. allie bobbitt and disney have signed a multi-your licensing agreement for this. it's part of alibaba's latest move to build its media empire. recently to buy the

south china morning post for $266 million. it also agreed to buy a streaming service similar to youtube, and has taken an interest in the latest mission impossible movie. areas thatreas are alibaba is interested in. the content offered by disney life is through one of the first companies in china that received an internet tv license. for $125.e available this is the second region that disney life has launched in. it started in the u.k. last month. it's one of their ways to reach directly to consumers, bypassing more traditional ways of putting content out there, like cable packages. through disney life, you can go straight to the content. trying to expand

his business, but disney is the latest company to tap into the market for online tv. >> that's right. to them as talking well. they wanted to tap into that potential audience of $1.4 billion. online tv is booming in china and expected to triple to nearly $14 billion by 2018. guess what? and another investor own a 20% stake. has signed up to sell troubled assets, worth up to $8 billion on the online marketplace, and holds auctions when there is significant interest. the rival announced a similar plan in may, and comes as

alibaba tries to diversify beyond retail sales. kong, equity hong unit, breaking a ban on naked shortselling, where investors sell a security short before barring. morgan the breaches were committed between 2010-2013. syngenta ag to be holding informal talks with monsanto. shares jump on that news. a quick check on property prices, because a mansion outside paris has become the most expensive home in the world. home sold fore

$301 million, a new record. at a vast estate near versailles, includes an aquarium, a cinema, and a wine cellar. the buyer is from the middle east. the revis recordholder was a penthouse apartment in london that sold for $220 million in 2011. ♪

yvonne: pictures-- some live where president xi jinping is delivering a speech, saying that china attaches a great importance to internet development. remote internet

strategy from 2016-2020. president xi jinping talks about integrated development that of eco-, internet, and cyber sovereignty should be respected by the global society. speaking at the chinese town, the keynote speech at the world internet conference. news,ng some other secretary kerry says he made progress after more than three hours of talks on syria with president putin in moscow. russia and the u.s. are conducting parallel roaming campaigns and agreed to be more coordinated and effective. differences remain on which syrian groups are considered rebel and terrorists. there is common ground. while we don't see eye to are on every single aspect of syria, we certainly agree today, and president putin agreed, that we

see syria fundamentally very similarly. we want the same outcomes. we see the same dangers. we understand the same challenges. yvonne: the philippines making plans and case of a devastating natural disaster by building a backup capital. the president has approved the project to develop part of a intor u.s. military base an alternative location for official agencies, the central bank, and financial exchanges. the philippines is one of the most matt -- disaster prone nations in asia and can't afford to be paralyzed by a storm or earthquake. here, first reviews are in of star wars, the force awakens. have you bought your tickets yet? fans and critics seem very impressed. 91% of sales in the past 24 hours have been for the galaxy far, far away. opening to break an

weekend record. box office.com predicts it will top avatars $2.8 billion take. let's bring the focus closer to home. and expected fed rate hike, joining us from colombo, sri lanka. great to see you. i want to talk about your personal view as we count down to the fed. and theis sri lanka wider emerging markets ready for the expected rate hike possibly today? i think we should all realize that there has been a great deal of discussion so far about the expected rate hike, so it is no longer a surprise. many countries and

economies have been preparing for this. mid-2013,anka, since we have been preparing by having the necessary buffers and cushions in order to withstand any shock that will arise as result of this increase. i think that is something that any other emerging economy has been practicing. therefore, that would be very helpful for countries to face these new equilibrium that we will be seeing. unfortunate, sri lanka has gone a little backwards, and therefore our preparations tend to be more than needed to face this, but nevertheless, as a sector, thell as a markets have been preparing, and that can withstand a rate increase.

yvonne: do you expect massive outflows after 2:00 p.m. eastern time? >> yes, i think that will happen today. right. all how much damage will we see? so far, we'vency seen that the currency in sri lanka has taken a tanking recently. >> i think that is mainly because of imprudent practices ,ollowed, particularly fiscal as well as the reluctance to build up necessary buffers, and that is suffering -- something we will be suffering for for quite sometime in the future. inflation at the right levels, inflation -- interest rates at the right levels, but in early 2015, there was a great

deal of damage that will be felt in the time to come, and some of those practices need to be reversed quickly if we are to regain control of the economy, and some of the areas we are seeing like the slippage of the exchange rate, as well as the tensions in the budget, we will see the result of practices which we should have avoided at the beginning of the year. that did not, happen, and that is something we will have to reverse quickly to regain control of the economy and be able to face the new challenges as a result of the across due to take place the world. i appreciate your insights on this as we count down to the fed. thank you for your time. the former central bank governor. india's currency giving the heat

as we count down to the fed rate decision. we go live to mumbai for the details when "trending business" continues. ♪

yvonne: some breaking news, u.s. lawmakers reached a deal that would lift the crude export ban, the first time they have lifted this band in four decades, and it seems like the markets were expecting this. we did see that rebound in oil overnight. u.scrude export ban will be lifted. ollow thise to f one. india, the currency feeling the heat. 2.5% since the end of october. , why cross over to mumbai

is this happening now? >> you were just talking about oil price and the india currency falling this week. that is due to the pending interest rate hike. the rupiahecovery, continues to trade at levels we have not seen for two years. the macroeconomic fundamentals had driven the currency down. this time around, the pressure on indian markets and currency seems to be less. oil is impacting what is happening, the global equity markets also impacting, and the dollar as well. is still one of the

best performing currencies. back to you. yvonne: thank you so much. that is it for us on "trending business". stay tuned for asia edge. ♪

>> from our studios in new york city, this is "charlie rose." charlie: ian mckellen is here. he is among the most celebrated actors of his generation. known for roles that spam literature and popular culture. from king lear to lord of the rings. his latest film is "holmes." the secret life of the world's best-known detective. mckellen is an icon playing an icon. here is the trailer for the film. ♪ >> his name is mr. sherlock holmes.