hitachi machinery lost more than 4%. and kawasaki k isen lost. and fast retailing lost 2.71% because of not selling well in china. one analyst said investors are letting it drop until they see earnings coming out from japanese companies. >> mayu, thanks. >>> most other benchmarks in the asian pacific region ended lower. >>> in indonesia stock prices fell sharply after news of the explosions. the jakarta fell down 0.5%. and then the basis points to 7.25%. the first in 11 months. china bucked the trend with the shanghai composite rising nearly 2% to regain the 3,000 mark. analysts say some investors were relieved am they follow as commissions directed to hold on to share six more months. south korea's copsepy fell 1.9%. for more on the outlook of the markets, we talk to the equity strategist. he said that investors need to keep a closy on upcoming data from china. >> the important point about the chinese economic statistics, even though they tried to be up yesterday in china, better than expected, still, we will see the industrial production number

the chairman of hitachi who co-chaired the forum said developing intelligent infrastructure will give japan a competitive edge. >> japan has a very strong fundamental technology from the viewpoint of the connecting of the devices or how to set up very effective workings. in that area, the very great opportunity for the japanese business or japanese industry. >> reporter: ian brehmer is a political scientist. he says japan should focus on areas it's already good at. >> i think what the japanese have to offer, the culture, the soft power, the technology, the resilience, the ability to think about the future, whether it's robotics or consumer products for an aging population, health care, service sector. these are very powerful things, and they're going to be much more necessary for other economies around the world. >> reporter: some of the participants at the forum said japan is on a moderate recovery and has the potential to become a world leader of technology and culture. now all japanese leaders have to do is put their economic strategies into motion so that the recovery turns into r

mitsubishi electric and hitachi had taken part in a cartel and coordinated prices of auto parts. the european commission says the collusion took place between the two firms plus denso. the company's officials decided among themselves on prices of car engine parts from 2004 to 2010, breaching the eu's anti-trust rules. denso was not fined, because it reported the cartel. the commission criticized the collusion saying it affected component costs for many car manufacturers in europe and ultimately hurt consumers. it will crackdown on efforts that infringe on free trade even if the coe clause takes place outside europe. >>> here's a look at some of the other business stories we're following. south korean firm samsung blames a disappointing performance by his smartphone sales in 2015. the company made about $160 billion. down nearly 3% from 2014. but operating profits were up 5.5%. boosting the overall performance. samsung prey dibts weakening demand for tech products will make the year ahead a tough one. >>> a south korean shipping firm says it will open a sea-lane connecting shangha

hitachi is believed to be making a bid for it.hat upside haidi: you are looking at live pictures out of tokyo where the first trading day of the new year is being marked with a traditional ceremony. in thekei 225 ended positive, its highest year-end close in two decades. let's take a look at trading. we are looking at the nikkei down by over 1% in the few -- in the first few minutes. you are watching "first up." oil surges as saudi arabia cuts ties with iran. crude rises for a second day crisis. financial the yen is strengthening on tensions in the middle east. the aussie and the kiwi are weaker. a two speed economy in china. ," live in "first up ong kong and live bloomberg.com. i am filling in for angie lau. breaking news out of singapore, the latest gdp numbers. our southeast asia correspondent is here. haslinda: it is a beat. here are the numbers. 2%. the estimate was 1.2 percent. the quarter before, it was 1.9. for the year, 2.1 percent growth in line with the government's estimate. growth boosted by construction, manufacturin