many countries, not only in asia, were expecting the japan/china summit talks. i was able to respond to such expectations. >>> abe said specific matters between japan and china's neighbors should not harm their overall relationship. he called on xi to work together for better mutual understanding among people, stronger economic ties, closer cooperation, and the east china sea, and a more stable security environment in east asia. president xi replies that he will work to improve bilateral ties. he said he hopes that japan will maintain its stance as a peace loving nation. xi referred to a 1995 japanese government statement that expressed deep remorse and a heartfelt apology for japan's colonial rule, and aggression in asia. he said it is important to face history squarely and advance toward the future. abe said his cabinet upholds the stance of past governments, and the perception of history. the two leaders agreed to prepare to launch a communications mechanism to avoid unexpected incidents at sea, and in the air. >>> leaders from around the asia pacific region

--re are views across asia southeast asia, i have heard this, japan, and elsewhere. chinese side the is not calibrating because they see weakness in washington and they see a window of opportunity . before they get a republican who is going to be harder line. that is hard to prove, but i have heard that hypothesis in a number of asian capitals. so take your pick. the bottom line is, the consensus is growing and there will be more tension with china over the next few years. as i say, it is a downward spiral, but it will be coming at a time when the administration has a lot going on in other parts of the world. >> thank you. specifically on the u.s.-japan trade access agreement, i thought i heard maybe a little discrepancy in views. michael talked about frosty talks and matthews talked about being quite close. i am wondering where that is actually and maybe how you see the midterm election results influencing whether or not the president gets tpa. close, i think is the way to put it. look, these negotiations are very hard and very complex. you have 20 countries at diff

southeast asia can't imagine an economic strategy for the united states for asia that doesn't includehina. tpp looks a little strange to them. tpp as matt mentioned includes 12 countries including the united states but it's not eligible, not all the asean countries were audible to join tpp. i think everybody wants to see tpp get them. they want to see the president's spending political capital on that. i think the southeast asians believe the indicator for that will be a strong statement out of the friday meeting with congressional leaders and the commitment to actually get tpa, trade promotion authority which they will see as a down payment on political capital by the white house on trade. next year the malaysians will host in east asia summit so a lot of attention will be put this ear on the structure of the east asia summit. i think americans and the white house want to talk about rationalizing a structure and how to -- how the asean regional forum and the ashdown defense ministers meetings relate to the eas i think you will see some work on the structure of the eas ahead of the te

replicate that across smaller economies of asia and we're the fourth largest economy in asia after china, japan and india. this equation is unfolding. so part of the american response is the transpacific partnership and the diplomacy associated with that. and for which there is a chinese counter narrative as well. i won't go into the probabilities and relative merits of both proposals. >> let me open it up for one or two questions. andre? straight here in the middle, please. >> thank you. i'm the chief representative in vietnam for the intrastate traveler company. it was a wonderful address. thank you so much. so comprehensive. i just was taking notes from your remarks, sir. only thing that i have a question on is, in working towards this constructive realism, great term. you defined it well. but it seems like a fly in the ointment, so to speak -- >> seems like a what? >> a main obstacle to working towards constructive engagement with all to variables, is that of all the parties to the equation, only china, only china, continues to violate using violence to intrude into the exclusive eco

summit and in asia generally. under his five-year term. and coming to that, i think one thing that you'll see out of the east asia summit and the u.s. asean summit is a growing determination to stand up to china on the maritime security threat that china has very practically posed. mike mentioned, and he's correct, that the chinese have not let off, their foot off the gas on the south china sea. rhetoric from china on a code of conduct is really, the best way to look at this is like the charlie brown cartoon where china would be lucy holding the football, and asean is charlie brown trying to kick it every time. the chinese are holding it saying we're serious this time, come on, come on, kick it, and then they pull it back every time. so i think asean really wants the united states to continue its role in putting this on the agenda, talking about it. and we see increased asean cohesiveness behind the south china sea issues. there's also a quiet determination in the asian countries, despite as matt mentioned, many o

focus on the asia-pacific. mike from and the trade rep is working are the demonstration strategy as many of you know is to get a deal on tpp particularly with japan and then use that to fast-track authority to the hiltzik investment to pass the fast-track authority that would allow the deal to be completed. it makes some political sense but it's completely backwards. every trade deal we have done we have done the trade promotion authority of fast-track first and then tpp. that is harder in the u.s. congress but without it we have not been able to get deals with major trading partners. why? because they question whether they should be putting their best deal on the table at the president has not secured authority from congress. i was in japan on monday and i can tell you the highest levels across the japanese government there's a sense that there is progress. there are a few issues left but they are done. they basically put the best deal on a table that they can put until they see some evidence. they were waitin

about shale gas, asia does not enjoy at all. in terms of energy security gas demand is continuing [ inaudible ] in terms of energy mix coal is more reliable and provides energy access to billions of people that do not have access to electricity. coal the most thing they are going to build up more power plants. in that regard i still think to public financing to be more realistic and provide better environmental issue. i do not -- i just want to share my concern. thank you. >> please introduce yourself. >> i'm nancy tom for the endowment for international peace. i have to follow-up on the previous question. they are like the world bank and being more reluctant with coal power plant. i was wondering if others might actually step into public financing like chinese financier or like the newly established breaks and the aiip. i would like to hear your opinions on that. >> our concern is that the japanese concern is that if there is no public support from world bank or something like that then the other organizations like aiib may hav

the reality is worse here in asia.here is so much money being pumped in by the boj that we don't worry much about the fed hikes next year. long-term rights will likely stay low. bank lending by japanese banks into the region is likely to provide liquidity, allowing us to drive growth and credit for another few quarters. >> what is the worst fallout from this? >> the worst fallout is probably for the japanese themselves. they need to think about an exit strategy as well. the worry is that at some point, they need to think about what is drawing some of the stimulus. i'm not clear yet how they are going to -- it is a long time. the deflationary pressure is overwhelming in japan. >> it is a false economy, isn't it? >> there is only a way to jumpstart things. it is not a sustainable policy. have fiscal changes. >> where is it? >> that is the big question. there is no plan b. keep pumpingjust money all the time. the government must step in. >> yes. it is all about the third arrow. for now, they are just doubling up. at some

to asia. i mean, i heard most of evan's speech and most of it i would agree with. i think the question is not is america doing something? clearly, america is. the question is, is what america is doing adding up to a set of actions, you know, unlaterally, bilaterally, multilaterally, that is fundamentally impacting china's calculus as it presses out in the east china sea, south china sea, et cetera? there's the other piece, which overhangs it, is that this isn't just about asia. our sense -- something that many members of congress have been struck about, how much in their conversations on security issues with asian partners, the topic comes back to ukraine and how what's happening there and how the u.s. is responding. or last year the response to syria. the sort of crossing of the purported red line and the lack of followthrough. and many people in asia asking, what are the implications of this for us? maybe that's an unfair question. maybe it's out of bounds, but it's real. that's something th

asia. >> by the united states, back to asia, our desire to pivot and focus on the asia pacific region. >> we were able to pivot to the asia pacific region. >> the pivot was part of his campaign promises but is it a reality? the military presence has not increased by much. >> the potential may have looked greater at that stage. since the budget cuts have gone through they have been able to hold asia level while other areas have faced serious cuts but not as dramatic as some might have thought in the first place. >> the u.s. trade deficit when the president took office was 336 million. in 2014, it was 497 million. but as the president heads back to the region he has a renewed chance to change that. more possible now ironically because his own party lots control of the senate. -- lost control of the senate. as the president lands in china it's expected he'll make a renewed push for trade summit. he'll meet with the country's president to speak of climate change. liberalization and internal reconciliation which is all but stalled. president obama is a man in search of a legacy. hoping thi

that's true here in the asia-pacific, as well. countries once ravaged by war like south korea and japan are among the world's most advanced economies. from the philippines and indonesia, dictatorships have given way to genuine democracies. in china and across the region, hundreds of millions of people have been lifted from poverty in the span of one generation, joining a global middle class. empowered by technology, you, the young people of this region, are connecting and collaborating across borders and cultures like never before as you seek to build a new future. the opportunities today are limitless. i don't watch a lot of australian television, so, as you might imagine, because i'm really far away -- [laughter] i don't know whether some of the same tendencies that we see in the united states, the focus on conflict, disasters and problems dominate what is fed to us visually every single day, but when you look at the facts, opportunities are limitless for this generation. you are living in an extraordinary time. but what is also

it intended to join the aiib for the building in asia. but its ally the united states has tried to put a stop to this. according to an australian newspaper, john kerry asked the prime minister tony abbott not to work with the aiib. but the world has yet to see what he will do. >> with ewould like to join, but it's got to be a multi-lateral institution with the kind of transparency and the kind of governance arrangements that the world bank has. >> reporter: the u.s. and japan are worried about china using its bountiful financial resources in asia. tomoki matsuda, nhk world. >>> people in japan have been seeing imports outweigh exports, still, the measure of trade and investment is in the black. >> japan has been racking up trade deficits for 27 months, but overseas investments, actually, they've been doing really well and that's helped push the current account into the black for a third month in a row. ministry officials say the current surplus is $8.4 billion. that's despite a trade deficit of $6.2 billion. strong overseas sales of cars

are going to set our relationships with asia. policies that preference big companies relative to small businesses much less consumers or workers, that's not a winning strategy for our pivot or connection to asia. when you talk to, which i've done a lot of, as you also have, you talk to other countries where there is growing opposition to tpp as compared to this being a wonderful strong partnership, it's seen as, oh, do we have to take these damaging rules to be friends to the u.s. which counter our foreign policy interests. >> do you see it that way? >> of the tpp countries the u.s. has free trade agreements with half of them. in many respects a lot of rules and regulations that are going to be in the tpp these countries would be signed up to. in this respect the tpp is not really--even though it's billed as a 21st century agreement, and there will be rules which have not been seen before, for instance, data flows, which is clearly important for the united states, but it's a good rationale for countries to want to get behind them

, with stops in china, myanmar and asia. >> pivot by the united states back to asia. our desire to pivot and focus on the asia pacific region. >> it was part of a re-election campaign, is it a reality. experts say except for rotating a few thousand troops into australia, the presence has not increased by much. >> the numbers may are looked higher, and the potential greater. since the budget cuts have gone through, they've healed asia level. while other areas faced skiers cuts. fi's not been as dramatic as the if you look at trade. it was 336 million. in 2016 it was 497 million. as the president heads back to the region, he has a reviewed chance to change that by pushing ahead with a trans-pacific partnership. more peble now because his party lost control of the senate. >>> as the president lands in china. it's expect he'll make a push for the trade agreements. he'll meet with china's president. and head to myanmar, trying to save what his administration held up as a chief foreign policy success, liberalization and internal reconciliation that all but stalled. presiden

so a little bit on the asia pacific rebalance. some folks say, well, is that thing really going to happen? i mean, you still going to do that? i say, yes. despite current events, the long-range interests of your navy and really of your security posture, the defense of defense is in the asia pacific. to review, over 50% of the world's shipping ton knowledge pass through the straights of malka and lumbar in the indonesia area in southeast asia. a third of the global crude oil and half of the liquid natural gas moves through the south china sea. five of the top 15 trading partners in the region, asia pacif pacific. five of the seven treaties, security treaties are in the region. we have been engaged over 70 years in the asia pacific region and with presence, with significant presence in that area. we will continue with this rebalance. and that rebalance means to refresh for us four properly postured forward forces and we are on track with destroyers, to japan, forward deployed naval force, literal combat ships to singapore, a new att

and there are views in asia, across asia, southeast asia, i've heard this japan and elsewhere from senior officials, that frankly the chinese side is not calibrating because they see a certain distraction and weakness in washington and they see a window of opportunity. before they get hillary clinton or republican in 2017 who will be harder lined. it's harder to prove but it's been striking to me that i've heard that hypothesis in a number of asian regions. the consensus is growing that there will be more viscosty with china over the next few years doesn't mean it's a downward spiral but will be coming at a time when the administration has a lot going on in other parts of the world.coming at a time when administration has a lot going on in other parts of the world. >> on tpp, particularly on the u.s.-japan trade access agreement, i thought i heard maybe a little discrepancy in views, i think. michael talked about frosty talks and then matthew said -- talked about being quite close. so i'm wondering where that is and -- actually, and maybe how you see the -- you know, the mid-term election

possibly re-engaging in asia. i believe the two sides will be able to understand and manage these concerns better by exchanging views. the unofficial summit is expected to focus on ways to avoid worsening friction between the two countries. and to work together on issues of mutual interest. they include boosting trade and investment, as well as increasing domestic demand in china. america's influence around the world is weakening. it also has many domestic problems. for its part, china's influence is growing. the world is facing different issues from those in the past. in this context the u.s. needs more help from china to tackle global issues. but china cannot do it alone, either. as the world changes, what's needed is governance. not by a single country, but by a multilateral network. >> xi and obama are expected to discuss issues including beijing's growing assertiveness in the south china sea when they meet on wednesday. analysts will be watching to see how the two leaders can bridge their differences. >>> a s

markets trading in the asia pacific.ng a transition into negative territory for australia, something now after chinese pmi data came in, dropping in october. divergencecores the in global economies. cost be -- kospi under pressure. we will be up in the air again after the break. bangkok airlines heading to market. back in a moment. ♪ >> it is 8:30 right here in hong kong and that is a live look outside of our offices here. bloomberg asia headquarters, live look where you can hardly see. we are an hour from the opening of trading here. you're watching "first up." >> the yen tumbled, gold falls. new zealand is at a record. japan's policy jolts. enter day two. sony's struggles, growing smart phone rivalry brings yet another quarterly loss. and singapore's eye in the sky, taking surveillance to new heights. good morning to you. i'm angie lau. bangkok airways makes its trading debut in bangkok today, but recent airline ipos haven't had a particularly smooth flight. we've been taking a look at this. in fact, quite turbulent, y

. >> south east asia, chair.sunny great to see a morning in washington, that the to hington media has pivoted all towards asia. this will be a tough trip for the president. look at this trip, . they wonder who is barack obama. now, after the midterm elections. will try to discern whether he has the commitment and political capital to follow through on early commitments that mike talked about. they will measure him on particularly economics for south-east asia. economics is the foundational dad rock of security in asia. that means ttp. quickly shifting gears as we know. she will be meeting republicans on friday. four things where they can agree on, like trade. from signals they expect the white house, . they have hint, y seen a can of air south-east asia was mystified. that has been read as indication that the white house on the economic aspects. the south east asians will be looking for that when he arrives in myanmar or burma. for the east asia audience. this will be the ninth east asian summit. president obama

let me just wrap things up in southeast asia.ave air asia and malaysia and thai air over in bangkok, all seeing substantial gains. do you hedge now or wait? let's leave it there. back to you. course, the price of oil having an impact on singapore's wealthiest residents. bonds from oilfield service providers are the worst performers among all local notes this year. let's get more from our southeast asia correspondent, haslinda amin. it looks like the rich are in for some pain. >> who would have thought? they are feeling the pain. they are the main buyers of high-yield, but small deals in singapore dollars. when the market slums the way it is now, they are finding it difficult to sell liquidity. the issue is just limited. into a company that helps to build offshore --tforms, that 30's present 30% drop in fuel is worrying. it is now trading below the average since the end of last year. this becomes the driving force in the country's bond market. take a look at the highest yielding local note issues this year. almost 90% snapped up b

other currencies across asia.hat you ask is which currency are we looking at today? there it is. you see the market. this is the reaction over the weekend, clearly dramatic reaction to the chinese trade figures. this is the performance for the aussie. the taiwanese dollar, you can see that we are a ways away from the figures out on the chinese inflation. obvious one,ost this will react, back to the aussie again. 86.43. ppi for china, there will be a movement and it will be volatile. >> we have some breaking news for you. the shanghai-hong kong stock connect is now announced to start november 17. checking some other stories making headlines that will be on top of that. we have been talking about this for a bit, a lot of weeks of people saying soon. and now is the day, november 17. thousands of people including world beaters have marked 25 years since the fall of the berlin wall. it doesn't balloons rose into the air along a stretch of the former divide, watched by chancellor angela merkel and mikael gorbachev. the

, but when you look at asia, is asia good in terms of innovation?when i'm in the states are europe, people are underestimating all the creativity and talent here in this region. think about the population a long and all the accelerated production ofd services, whether it's telecommunications, video. all of that actually came from asia first. i think we forget that because we get it mainstream and we don't think about where it started. is aopulation here fantastic early adopter market, and one we can learn from. excited whenyou you look at the market in asia? is there anything you would potentially put your money in? >> financial services, which is something we have been talking about and most of our conversations today. this being a financial hub, we would like to see more of that. there are lots of ways we do business around the world, including -- including the asian markets, that's very important to what we do in london. population of the here in this region is a good lesson. a huge way to learn about what will happen in our own market. >> i reme

it would link china with russia and central asia.he chinese are building a rail and pope line hub in a border city near kazakh stan. they are also selling the idea of a 21st century maritime silk road, connecting with asia, africa and europe through the suez canal. they complete directly with president obama's trans-pacific partnership block. the competition is the backdrop for this week's apac summit. >> reporter: the first mayor development didn't take place at the scheduled conferences, it came from a meeting on the summit's sidelines, a handshake two years in the making. the president and prime minister met for the first time since the leaders came to office. the two nations have been at odds over territory worsening deep historical tensions, and putting a freeze on the relationship between asia's two largest economies and raising global concern over regional stability. >> no real efforts have been made by either side over the last several years to patch up to find the modus operandi or compromise, and this is the first occupatio

we are grossly underrepresented in asia. we'll he have a free-trade agreement with asia and singapore. but we do not have agreements with other southeast asia countries. we could be doing a lot more. we have made our bed and we have to bring tpp to the end of the line. if that includes japan, that is great, but we need to decide if that's going to include japan or if we go at it alone. the world is regionalize again we run the risk of getting cut out of asia unless we have a solution. >> president obama previewed his upcoming meeting with the chinese president. mr. obama said the u.s. welcomes the rise of a prosperous, peaceful and stable china, but does that translate into economic benefits for the united states? >> now that china is on the scene and that is a reality, we cannot go back to pre-wto days. we do not want to go back to pre-liberalization days. we have to be more aggressive and increase our competitiveness all stop we've got to be cutting free-trade agreements. china is being very aggressive. as we look at the w

focus on the asia-pacific. r is working hard. administration's strategy is to get a deal on tpp, particularly with japan, and then use that to fast track promotion authority to the hill, convince them to pass the fast track authority that would allow the deal to be completed. it makes some political sense, but it is completely backwards. every other trade deal we have done we have done, the trade promotional fasttrack first, and then tpb. that is harder in the u.s. congress, but without it we have not been able to get deals with major trading partners. why? because they question whether they should be putting their best deal on the table if the president has not secured authority from the congress. i was in japan, quebec monday. -- came back monti. at the highest levels of the japanese government there's a sense there are a few issues left him but they are done, they had a sickly put the best deal on the table of the they had put until they see evidence and there waiting for the midterms, that the white house will reach out and w

president obama again heads off on a long journey to asia, with stops in china, myanmar and asia. a chance to fulfil a long-time promise of his presidency. >> pivot by the united states back to asia. a desire to pivot and focus on the asia pacific region. we are able to pivot to the asia pacific region. >> the pivot was part of his election campaign, is it a reality any. except for rotating troops into australia, the military presence has not increased by. >> the numbers may have looked higher. since the budget cuts have gone through, they have held asia level while other areas faced cuts. it's not necessarily been as dramatic as one might have thought. >> if you look at trade, that's worse. the u.s. trade deficit with asia when the president took office was $326 million. as the president heads back to the region, he has a chance to change that, by pushing ahead with a trans-pacific partnership. possible now because his party lost control of senate. democrats from gains giving the president more authority. as the president lands in china, he's expected to make a push with apec. ta

our desire to pivot and focus on the asia pacific region. >> we were able to pivot to the asia-pacific >> it was part of his election campaign, but is it a reality? experts say except for rotating a few thousand troops into australia, the military presence has not increased much. >> the potential may have looked greater, since the budget cuts have gone through, they've held asia level while other areas faced serious cuts. it's not necessarily been as dramatic as one might have thought in the first place. >> if you look at trade, that's worse. the u.s. trade deficit with asia when the president took was a of 3,360,000,000. in 2013, it was 497 million. as the president lands in china, it's expected he'll make a renewed push, meeting with china's president to talk climate change, then head to myanmar trying to save what his administration has held up as his chief foreign policy success, which has all but stalled. president obama is a man in search of a legacy, hoping this trip helps build the fountation for that. >> talks are being held over iran's nuclear program heading for a deal later

he's tried to pivot to asia before with little luck. this time, some good news right at the start with north korea releasing two american prisoners after a visit from the nation's top spy. also happening right now, the first big snow of the season starting to blast millions of americans across the plains and the midwest. the latest on what is expected to be significant travel delays. and bush 43 talking about his book on bush 41. kicking the door even wider to the idea of a bush 45. assessing what the country thinks about another bush versus clinton fight for the white house. >>> good morning to you from washington. this is "the daily rundown." we begin with some breaking news. a horrific story we're learning more about from nigeria. according to the associated press, police say a suicide bomber reportedly dressed as a student there detonated explosives inside a school. that happened this morning, killing, as we understand it, at least 47 students. the blast occurred as children gathered for an assembly. it was at their school in the no

this is the beginning of the week-long trip to asia with world leaders from asia and pacific nations. it was an interesting speak focusing on the u.s. economy, cheerleading on the u.s. economy. he talked about the u.s. relationship with china and finally ended up on the u.s. relationship with other nations talking about the trans-pacific partnership, the trade deal the president is trying to get. >> he doesn't talk very much about human rights abuses. that is something people would like him to say something in china about that. he mentioned it. also about cyber theft and international property rights. very careful in china. >> it is so fascinating listening to what he says and trying to decipher what he means. he did talk about women's rights and workers rights and workplace safety and cyber security. in ways designed not to offend china. >>> a lot more going on this morning. we will take a quick break. we'll be right back. wouldn't it be great if hiring plumbers, carpenters shopnline is as easy as it gets. and even piano tuners were just as simple? thanks to angie's list, now it is.

our desire to pivot and focus on asia pacific region. >> we are able to pivot to the asia pacific region. is it a reality. except for wrote as a few thousand troops, the military preps has not increased by much. >> numbers may have looked higher. since the cuts have gone through, they've been able to hold ashee level while others face cuts. it's not as dramatic as one might have thought in the first place. if you look at the trade, it's worse. the trade deficit, in 2013, it was 497 million. as the president heads to the region, he has a renewed chance to change that, by pushing ahead with the trans-pacific partnership. more possible because his own party lost control of the senate. it was democrats against giving democrats more authority to negotiate a deal. as the president lands in china, it's expected he'll make a renewed push for the trade agreement on the sidelines. he'll made to myanmar, trying to save what his administration held up as a chief foreign policy success. internal reconciliation, which all but stalled. president obama is a man in search of a legacy. hoping the trip bui

korean stocks as a low. , asia-pacific session so far.in hong kong that announcement of the hong kong-shanghai connect and that's been dominating the trading day for theith gains casino. the exchange is seeing shares move to the upside. hang seng, 1.7%. looking to the afternoon in tokyo, slight declines in the morning session. that was really pretty much down, slightly stronger yen. there we go. independence could trigger a major change in the world of football in barcelona. that is not stopped the club from taking a stand on independence. ♪ to european and spanish football, this place is a fortress. famous for its players like messi and the name are -- is weighing inb on the political games of the region. the four-time european check in on a bid to vote for a breakaway. the club success is largely built from playing in the spanish link and the intense rivalry on the country's capital. if it leads to exclusion from the leak, experts -- league, experts think it will lose a large chunk of annual sale is made. many come from the deals with n

to promote a road map to create the free trade area in the asia-pacific. this is a historic step forward. >> the results of their research will be compiled by the end of the 2016, with the goal of setting up the new framework at the earliest possible date. >>> prime minister shinzo abe of japan will lead an effort to integrate the regional economy. . >> translator: the tpp negotiations are at the final stage. we were able to share a firm will that we will conclude the talks at an early date without political leadership. and now we are beginning to see the end. beyond the tpp, we're looking at an economic integration to create a greater market in the entire asia-pacific region. at the apec meeting, we were able to draw a road map for setting up the framework. >> abe said japan worked with australia, the u.s. and other countries to set up the apec forum 25 years ago. and he said japan is now looking ahead to the next 25 years. he said leaders in tokyo are determined to lead efforts to create the asia-pacific free trade area. abe said he discussed the situati

let's check on oh other marketses in the asia-pacific region. the opening of south korea's stock market was delayed due to university entrance cams. the kospi is in positive territory, up by a fifth of a percent. in australia, the pench mark index is lower by half a percent. financial regulators say six mayor banks in europe and the u.s. rigged a key foreign exchange market. the banks face fines totaling $4.3 billion. the banks are accused of manipulating a key benchmark on the london exchange, they include citibank of the u.s. and hsbc of britain. authorities in europe and the u.s. say that the irregularities took place from january 2008 to october 2013. major global banks were fined for manipulating the london interbank offered rate known as libor. time is money especially when talking about an ultra rare time piece, a vintage pocket watch fetched a record price at auction. [ applause ] >> congratulations. >> the watch went under the hammer in geneva. an anonymous buyer paid $24 million for it. that's a record for a time piece. back in the 192

"asia edge" is up next. ♪ >> hello, i'm john dawson.and this is "asia edge." day two of the jolt in japan. the bank of japan's decision sends off gold and the yen. more signs of a deepening weakness in china. and, ready for takeoff. >> i'm angie lau. also coming up, warren buffett has some advice for potential airline investors. don't. indeed, more than half of the asian carriers listing are trading below their sales prices. the suspect in the hong kong double murder case is due before a magistrate. he's a 29-year-old british banker. we will have the latest from the court. and on the road with the jacksons. the brothers launch a talent search in china. all that and more in this monday edition of "asia edge." the impact ofe the china data playing out in the markets. david is here to look at the reaction. >> let's take a look at the equity markets. we have a lot of data, a lot of china this morning. what we are seeing across the mage and -- the region is mixed. kospi, hang seng, australia, all lower.

in asia to show the u.s. is committed to its asia-pacific allies there's been a great deal of mistrust between china and the u.s. on issues like you mentioned of cyber security and others. chinese leaders and thinkers are criticizing the u.s. for trying to contain the rise of china in the asia-pacific while the u.s. is suspicious of china's role in the region, particularly its increasing flexing of its military muscles when it comes to disputes in the east china region, east asia region. one with of good news was the meeting between xi jinping and prime minister abe today. that was a long time in the making and does show that there is a warming of relations between japan and china which has been incredibly frosty for at least two years. >> what common ground might there be between these two as they meet on wednesday? >> well, certainly between the u.s. and china there are a lot of issues where there is disagreement. including china's human rights record. xi jinping is bound to brush that off but there is crit

obama is in asia. good afternoon. i'm toure. this trip has been planned for a year but it couldn't come at a better time for the president who might feel more comfortable than frosty d.c. as we come on the air, it's 4 a.m. in beijing. and in just three hours, apec leaders return for day two of the big summit. their nations encompass 40% of the world's population and more than half of the world's economic output. kristin welker is in beijing. >> reporter: this is president obama's sixth trip to asia, his second this year alone. one of his key foreign policy goals has been strengthening ties with the region, but many here feel asia has become an afterthought with president more focused on isis and ebola. this week will be a key test of his foreign policy. >> day one was about the president touting america's economic recovery and why china's economic strength is good for us. >> we started creating jobs again. the u.s. is putting more people back to work than europe, japan and every other advanced economy

eastern asia, pop ups going on in china. really the big thing here -- you get this high, it starts to drip down towards the south. we call it in -- parts of the southern -- just gave you the tight pressure gradient and then still have the rain showers across parts of taiwan -- there into southeast asia. >>> that wraps up this edition of "newsline." thanks for joining us. xnóx >> euromaxx highlights. here is your host. >> greetings from the german capital and welcome to our highlights edition, which this time around includes the following top stories -- >> london celebrates 120 years of the super sleuth sherlock holmes. mirik milan is an amsterdam mayor, but only by night. how the leica camera revolutionized photography. >> some of the most iconic photographs in the world have been taken with one famous photographers like henri cartier-bresson, robert doisneau and robert capa swore by it -- a leica analog camera. it was 100 years ago that oskar

. >>> tensions between two of asia's largest economies. theirs was just one of many conversations taking place at the asia partial economic conference. >> came from a meeting on the summit's sidelines. a handshake two years in the making. china's president xi jinping and japan's prime minister shinzo abe met. >> no real efforts have been made by either side over the last several years to patch up, to find mode us april ra modus d exchange a few words. >> impact outside the asia pacific region. what would be thought to be a relief for japan's ally, united states. cordial relationship with its huge trading partner, china. the summit is being held here in a sprawling complex north of beijing, built for the olympics. more geopolitical discussions on the sidelines are expected over the next few days including the fighting in eastern ukraine. 38 australians were killed. choing and the u.s. have -- china and the u.s. l with, plotting out the relationship for the next few years. >> over the next phi years nearly half of all economic growth outside

. >>> the ministerial conference of the asia pacific economic cooperation forum is about to begin ineijing. officials from japan and china are trying to arrange a bilateral summit on the sidelines of the meeting. >>> and ahead of the apec summit an american expert shows his insight into the situation in east asia and japan's foreign policy. >>> japan coast guard authorities are increasing their presence near islands in the pacific. they've spotted as many as 100 chinese vessels in the area, and they suspect the crews are illegally hunting for coral. jewelry made from red coral fetches high prices in china. coast guard authorities have seen a dramatic rise in the number of chinese vessels off the ogasawara and izu islands. they suspect more than 200 crews have been illegally poaching coral since september. as a typhoon approached this week, they moved outside japan's territorial waters. but many started sailing back after the storm passed. coast guard officials now say they're on a 24-hour watch for more boats. >>> japanese coral gatherers are complaining about the damage caused by su

influence in asia. president persuaded apec leaders to adopt his free trade area of the asia pacific agreement and at the same time, announcing major new spending which will boost china's regional influence. >> china will commit a $40 billion u.s. dollars to the establishment to provide investment and financing support for countries along the belgium road to undertake projects in infrastructure, resources development, and industrial cooperation. >> question. what will be the upshot of president z's regional economic proposal? tom. >> i think what's happening here is that the chinese are trying to exert that regional influence in a much bigger way. this investment, the more open tone in terms of apec trying to be a bit more -- the chinese have a problem in the rule of law. if you think about what is happening in the populous movements in the philippines and vietnam, concern about chinese role and encrouching into territory. the united states has an opportunity, if we are willing to be bold, to buffer aga