he is asia's longest-serving leader.ear after the death of an economist, oscar de la renta is planning to open in asia for the first time. asia camping for a tiny percentage in his income but the chief executive tens to change that -- tends to change that. >> we are an independent company and we have to be very thoughtful about the opportunities we pursue and we have had higher priorities until now then expanding our retail store network in asia markets. now is a good time. i've just come from hong kong and a lot of our competitors are talking about being over stored, rent burdens that are too high. we don't have any commitments in the region now so we can be very thoughtful about how we approach the next 3-5 years and our business in tokyo, which is a small but growing quickly. it has benefited tremendously this year. it is likely we will open our first store in tokyo at in the next 12-18 months. >> how about china? i find it astonishing this is your first trip to china. >> business in china, given our wear and was an e

how does asia stand on climate change? >> asia is not immune, of course.ountries, many cities and are part of the world are sinking, they have flooding issues. jakarta, bangkok is thinking. this is video from eight -- from a temple. this is an all-out effort to try to save this temple complex, this monastery, from sinking. from being inundated. sand balls, seawalls, -- sandbags, seawalls, whatever they can. this is an issue that is repeated in city upon city. manila, for example, and that is not even to mention the likes of typhoons. angie, asia-pacific will factor very prominently into these discussions. president obama's legacy will be the client -- climate accord. angie: i remember that tearful appeal from a philippine government official. super typhoons increasing as the years pass. >> many more victims each year. angie: we will have more on these talks later on in the show. directoro talk to the in about half an hour from now. south korea has approved its first internet-only bank. two groups have been given the go-ahead. goal is aiming to revamp the b

basically the two biggest markets are in china and the rest of asia area on the rest of asia is now biggerrope. >> ok fine. then 1.4 billion people. >> that's what the third one is so important. the rich world and in fact china but also look at cap were because of the power sector change your going to end up with omissions in the power sector. we artie down below that in the u.s.. china's the biggest power system in the world. we have about 15 years. let's look at india. there's so much conventional power invest in. it's something like four times the omissions in india if we continue on the path. >> believe it our climate change may affect the country's credit rating. >> it's not yet a reality but is the ability that in the future if environmental damage continues unabated there is no way global economic act of the will be unaffected. climate change could cause credit ratings downgrade. s&p says simulations of the consequence is a cap will storms and live show the climate change increases the risk of downgrades by 20%. some readings could gradually be more rest. another thing is -- emergin

to "asia edge."h that one, we have the yuan probably included in that. what are the implications when it comes to equity? >> there has been a strong relationship between chinese foreign exchange reserves and risky assets. when you find that the reserves are declining, risk assets are declining. that is what happened over the summer. the inclusion may result in some inflows into china, which reduces the pressure on them to devalue, which means the risky asset prices get supported. positions in that have been reduced by two thirds in the last few weeks. it is very significant. angie: what is going to happen? we have been talking about stimulus. intervene,ing to not we could very well see a drop in the yuan. >> we are waiting for the pmi data that will come out tomorrow. we think there is a possibility the pmi data may be a little bit stronger than what people think. angie: which would be expansion? the market is expecting 49.9. market is pricing in gdp in china falling. sudden, everybody is positioned

haslinda: singapore as part of southeast asia. >-- >> singapore is part of southeast asia. we are highlighting the art in terms of the southeast asia context. anything that is important for us to now showcase, the work of , andrtist from the region hopefully it will garner understanding of the development of the art history of the region. where does the gallery stand in comparison to the big ones that we see in paris and london? >> we aspire to be like one of them. we are new, we are starting. this is the beginning of a journey. it is 10 years in the making. a lot of love and passion has gone into it. everyt to make sure that piece of art and every visitor that comes in to see this will be a legitimate and understanding-- will be able to generate an understanding of the region and renew interest in art itself and singapore and the region. haslinda: what is a must see here? know one of the pieces is called drying salted fish, which can be found on the $50 note. there are many ar>> must-sees. you'll need many visits. arefact that they exhibiting in important buildings that ha

let's check in on markets in asia this morning. u.s.ose of you in the wrapup your thanksgiving meal. equities up .1%. seeie dollar continues to weakness after australian capex fell by the most on record. to new zealand we go. this is the view from there. spotew zealand dollar weakening at 65 u.s. cents. let's head over to japan. this is the view yesterday on light volume ahead of that thanksgiving holiday. and we're in thick of that. nikkei futures pointed to a higher open. dollar-yen is slightly weaker. but we begin today with an unexpected rally for commodities as metals surged on speculation china may step up its support. jumping commodities led to gains around the world. so, is at a rally with legs? is here now with what china's possible intervention and how this can impact the markets today? >> we understand domestic players will be meeting today amid this record slump we have seen. &ee biggest drop in the l metals index. we saw metals rising from europe to canada. we saw copper up as much as 4% on speculation that china will

moving on to other markets in the asia pacific region.the shanghai added nearly .4% closing at 3630. investors cheered by the central bank's additional easing measure to lower lending rates for banks. taiex was lower by .14%, cautious before the release of the export orders for october. they fella-ç for a seventh consecutive month. in other marketings, hong kong gained 1% led by energy and i.t. sectors, and sydney extended gains to a fourth day and finished up .25% after three weeks of losses. here's a look at other business stories we are following. >>> a panel of japan's main ruling democratic party has begun discussing tax reforms for the next fiscal year. the cop tents are expected to be outlined by early next month. the panel is expected to recommend lowering the corporate tax rate from the current 32.11%. prime minister shinzo abe favors cutting it below 30%. a japanese public private fund is reportedly buying stake in a u.s. company promoting a high speed rail line connecting dallas and houston. analysts say the multimillion dollar

the group has made active efforts to recruit members from southeast asia. last year in july, they uploaded an online video in the indonesian language. last month, asean nations held their first ministerial talks to discuss ways to curb extremist ideologies. the philippines also have muslim majority areas and active extremist groups. at least one group has pledged allegiance to islamic state militants. asean nations are also concerned that their citizens who have travelled to the middle east to join the group may return to the region and commit acts of terrorism. >> the south china sea will also be a topic of interest. what should we be looking out for? >> u.s. president barack obama is expected to side with the philippines and japan in calling on china to exercise self-restraint. last month, the u.s. sent aegis war ships close to artificial islands built by china in the disputed spratly islands. china claims sovereignty over almost all the south china sea. obama met the filipino president benigno aquino on wednesday. they agreed on the need to stop china fr

we talked about asia. they are incredibly confident. the u.s. market.w the fx market won't make me decide whether i do or don't buy particular assets. if i'm in the u.s., i just got a steep discount. why don't we see them buying more european assets? >> i think there has been a fair amount of u.s. activity into europe. dwhroong -- i've never seen a c.e.o. saying i'm going to do a deal at a particular level but it is a sweetener. on the margin, the fx will support additional activity and it is wub of the factors why -- one of the factors why we continue to be bullish. jonathan: you bullish. i speak to so many people and we get pessimistic. what are you excited about for 2016? what are you most excited about? >> i think i'm most excited about my own business, selfishly is that quarter-on-quarter, there is still not evidence that the economic recovery is imminent. from the perspective of m&a practitioners, our clients are aware of that and they want to supplement that conservative growth with external growth. we are in a sweet spot. on the one happened, th

it is on bloomberg.com/asia. coming up later on the show, money at record levels, bypassing the beijing rules, and the biggest trade credit insurers. asia has gone from being a bright spot to facing a dull future. ♪ rish: well, for the last six years, the number of companies worldwide declaring insolvency has been falling, but that may be a bat to change, warning of growing uncertainty, saying asia may see its first rise in insolvent is next year. chairman of a group joins us. thank you very much for joining us. give us an overall idea of a realistic view of what is going on here, and tell people what you actually do and how the credit trade actually works? what weell, explaining do. we are ensuring the payment of invoices between companies, meeting we are covering the risk of insolvencies. so, overall, how is the global market? wilfried: we have seen a steady year on year decline. this now has come to an end. at ais why we are looking u-turn in global insolvencies. andill see a rise in 2015, we will see another

let's take a look at other markets across the asia pacific. we are seeing a positive picture this morning. sidney share prices off to a strong start up 1.18%. in seoul the kospi higher by more than 0.8%. we will see where trading takes us throughout the morning. people across south korea have been drawn into a scandal that is affecting millions of motorists world wide. many are demanding refunds from german car maker volkswagon. now government officials are expanding the scope of their investigation into the matter. nhk world has more. >> reporter: volkswagen's emissions scandal has been snow balling across many countries including south korea. drivers are furious. she owns one of 120,000 vehicles in her country that are affected. she wanted a car that would produce fewer toxic emissions on her daily drive to work. and she believed that her diesel option would be more environmentally friendly. >>> it volkswagen's reputation has plummeted. i can no longer sell my car. it's value has sunk in the used car market. >> reporter: more andor motorists

edge.uned for asia we will be speaking to the u.s.commerce, talking about partnerships and the business outlook here. we will pick it up as we head to the top of the hour. theill be looking on indexes. ♪ >> our world today is wealthier than ever, but not everyone shares in this wealth. today's young business leaders are challenging this, changing the way we think about money, power, and its purpose. this is a new generation. this is the new philanthropy.

. >> we saw a drop in asia. commodities are front and center. another market catalyst today is the change that will be an effect for the indices. is concerned, 40 companies being added to the msci asia-pacific index. we have nine in total and taiwan. three and taiwan. for four.f four orot of companies are energy transport shipping related. has wiped out a fair amount of the market value of these companies. they will have to be removed. japan, three others, 343 swap. three for three swap. you have earnings from the big three banks due out after the markets closed later on. all seeing marginal declines. biggest loser in japan, nothing to do with commodities. we are watching shares of toshiba. to 89 now. the biggest drop in six months. 289 now. the biggest drop in six months. 150 billion yen write-down does not reflect the enterprise value. they may have to adjust here. shares being driven down 8%. something to follow with the report out. >> thanks, david. checking other stories. amnesty asred an long as workers speak up by the end of the month. wo

materials shares are leading losses across asia.ecline, prices may drop as low as the mid-20's unless opec takes action to stabilize the market. the minor is graded at the highest level by three major ratings agencies, but it is more in line with a triple b. hong kong unit says it cannot contact its chairman and ceo. it has not been able to reach junan since last wednesday. it has appointed temporary placements and its management role. -- in its management role. we know where david is. let's get to him now with the markets. david: right here. let me show you what is happening with the dollar index. for you to get a move of this magnitude, for you to actually move, you have to see most of the major currencies falling. that is what we are seeing at the moment. this is the highest level since march. there we go. at this point, that is a 12-year level.hat is the we are within striking distance. that is putting pressure on commodities. -- news over the past hour if you look at the shanghai futures exchange, we are down 6%. under 6500 --

and the budget carriers in the asia-pacific as well. asia from the double competitor. a strategic standpoint from the airline's perspective to integrate budget operation, bring down costs overall. and more closely cooperate with skilled. will both be a perfect match if you will in terms of cooperation. down the line perhaps they will seek more ways to squeeze costs out of the business and learn the best practices from each other. the aviation business is a competitive issue. singapore air likely has had the benefit of lower fuel prices. that is tiger air revenue coming in to the max but it faces a competitive challenge that has not gone away about how to compete with middle east rivals and regional space such as the chinese airlines which are from the double competitor's themselves. rishaad: thank you. we will take a bigger look at that. and a 22% slump in profits. the chairman says he is not worried and insists the worth is yet -- is over. is he right? >> there are three things to point to in the heels of the results. the first to address the feeling, we have been the

do not show asia dx why. let's show the -- don't show the asia dxy. spent three storage looking at quadratic charts, and he notices that as ugly, ugly as well. we have to go to brendan greeley for an update. the news flow extraordinary out of paris. north of paris, the stadium. rented really, good morning. brendan: good morning, tom. seven people are being arrested, --d in city hall in sand any in a working-class neighborhood. 23% of the people who live here come from outside the e.u. people are surprised to discover, this morning at 4:25 they heard shots. they were told by police to stay

trade in asia and two-thirds of the gas trade, again in asia, they have a destination in asia, all these fuels. now, to bring to your attention what the economics of different fuels and technologies, just to give you an idea, we expect the cost of solar and onshore wind and efficient products, that is efficient refrigerators, efficient cars, efficient lighting, they are becoming cheaper as a result of learning by doing. let me give you one example on the solar pv. china pushing the solar pv meant in the last five years, the solar pv cost declined by a factor of four. a big decline there. so they are becoming competitive in many case and efficient products are also becoming competitive. many people who work on the oil business on the other sector, we see oil and gas, that would be efficiency gains to push the cost down but more and more oil will come from more -- the complex and of a range the cost of oil and gas production extraction will go up and it is the very reason or one of the reasons why we expect, i will come to it in a moment that we expect the oil prices may well gradually inc

jewelry, asia-pacific. 70% decline in the last first half of the year. in october, even more challenging. ines down 6% for richemont october. it will be challenging and asia-pacific. jonathan: ftse 100 in the green. we are in the red across most of europe. early days. we'll dig into their earnings later. is going to happen in today's program. first up, it is u.s. jobs day. investors down the middle on a hike in december. could a october report make or break a list off? expect a 2016 rate hike. we bring you bloomberg's exclusive interview. germany falters. a surprising drop in production. as the slowdown in china leaves its mark. ♪ it is a job stay in the usa cityet and sleepy new york . some call it the most important number in the world. some tickets to far and call it the most important ever. it matters. does it need to be good enough to give danielle the conviction -- to give janet yellen the conviction to hike the rate in december yeah, francesca, great to have you with us. >> aenough about enough? nice to be bad enough to stop them from hiking. that

all that on bloomberg.com/asia. our coverage of the terror attacks continue after the break. ♪ >> i think we need a big coalition there because it is not possible to have two coalitions in this region of the world. together, not only with the americans, we have to be with the russians, with the arab countries, to be on the ground. ont has happened in france friday can happen in every other european country. >> this has to be led and by local troops who understand the local lay of the land. troopserican or western to not understand the difference between a sunni or shia. this is where the problem begins. i agree with the continuation of the existing military campaign, targeting military installations and containing the threat of islamic state. reaction isrk risk-off, equities go down, bonds go up. certain key currencies rally. gold tends to do quite well. the bigger question here, what happens next? what we are all doing is trying to work out, is this just one in a long series of atrocities we are seeing? the markets

challenges inthe asia, southeast asia, parts of china, a lot of people are not part of banking.u get them involved in things like this? they certainly need a mobile phone at some point. how do you reach that? >> if you look at the world, it is still 85% cash. there is still a huge opportunity for electrification fication.oni nowadays, it does not have to be your mobile device. it can be some other payment device. if you are a small merchant, it can also be a device where you receive payments. that is what mastercard is all about. we are looking towards new innovation and other technology. one more nation that to technology is china. they are opening up markets there is slowly for you. what exactly are you allowed and not allowed to do in china? >> we have a sizable business in china today. primarily the cross-border space. when travelers like yourself go to china, we serve you. and when chinese car horns -- cardholders go overseas, we also serve them in our networks. david: so you can issue cards on shore. >> we do, but we are not able to process those transactions. that has to

a selloff in asia. european stocks holding on to the flat line. >>> investors cheering a first dividend from commerzbank in eight years. the city shares higher despite news the ceo will be stepping down next year. >>> hsbc beats third quarter forecasts for trades in the red. >>> russia mourns the 224 victims of the egypt plane crash as authorities say that the jet broke up in midair above sinai. they say it's too early to say what caused this disaster. >>> wow. we have a 16-month high for u.k. manufacturing pmi. it' co it's come in at 55.5 for month of october. that's up 51.8 for the month of september. quite a marked increase there for u.k. manufacturing pmi. look at sterling. look at that jump. 16-month high. you can see 154.95. just shy of that 155 handle off the back of that surprise beat. >> we also have a bank of england rate decision later on this week as well. that should be interesting. let's stay with aviation. we're going to aviation with shares of ryan air despite second quarter net profit r

>>> protests outside a meeting of asia pacific leaders being shouted at about the south china sea. >>> hello. in doha with the world news from al jazeera. also ahead, isil said this is the it used to blow up a russian airliner over egypt. french investigators say they have stopped a terror cell to hunt down paris suspects. >> i am report from thailand where police are in a new push to try to stop the huge flow of drugs coming across the border from myanmar. ♪ >>> massive protests are taking place outside the asia pacific economic corporation's annual meeting in the philippines capital, manila. riot police have been using water canon to break up protests. demonstrators want apek to be dismantled saying it only benefits corporations. >> leaders say there is an urgent need for international corporation to fight terrorism and u.s. president barack obama has called on china to stop land reclamation in the disputed south china sea. margo teague cement this will from manila. >> we are less than a kilometer away from where those 21 economic leaders are currently meeting. now, the people here

this is "asia edge. " a look at our top stories. declines across asia on this last day of november.e suit in brazil that could cost $5 billion and a seat at the top table. a big day for beijing as the yuan expected to be promoted to the imf elite reserves. china sea as a potential driving force find a new global deal to cut greenhouse gas emissions. foreign investors helped fuel a three-year rally in japanese fuel chips. plus, timeless elegance. could set a world record when he goes under the hammer in hong kong. we're talking about 2 million u.s.. all that and much more on this monday edition of "asia edge." >> keeping an eye on asian markets. we are looking at a mixed slower picture. cuting to expand qe and deposit rates. p

first to asia.sure a little bit least on the hang seng and kospi following the u.s. market. shanghai composite almost up 2%. >> nicole: bank of england, they get rates, inflation outlook, economic outlook and minutes in the last meeting, big thursday in europe. waiting on that news. ftse down, cac and dax up 3 quarters of one percent. >> cheryl: right now opening to a higher opening. dow pointing 36 and s&p up by 4. stock is up after premarket trading. revenue jumped more than 40% as new advertising services in facebook mobile app boosted sales. expanded reach with number of monthly users topping one and a half billion as of september 30th, that's 14% from a year ago. incredible. >> nicole: volcano in south western mixsince july erupted five times on sunday. smoke and ash almost a mile into the sky, over the past several months nearby villages have been covered with thick coat of ash, officials warned to cover faces and be careful before drinking water. it's part of the pacific ring of fire. >> cher

we are seeing great examples across asia as well.e 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

you are watching "asia edge."ved lastales month compared to a year ago. eagle sales slumped to just 2400. the drama seems to have affected its image. vw is also lost its global sales lead to toyota. greece has been told to improve financial sector governance and now it's bigger banks are on sounder footing. the ecb said they need another $16 billion to ensure they can withstand another crisis. repairing greece's financial sector is a key part of its $95 billion bailout. politicians are generally pragmatic folk and china and korea have just underlined that. their leaders have agreed to put tensions aside for the time being and work together to create growth. they are saying there is complete cooperation here. >> the language is very different that we have been hearing for the past three years. i expect that both countries have realized that they have to start realizing how to getting behind -- getting past some of these historical animosities. the bodyven with language, it was kind of awkward when they were all hol

ismeanwhile, the ecb poaching even more money, you have asia keeping rates low.he struggle continues. going forward, the question becomes, how can you generate returns from income when their high dividend equities or, take a much more flexible approach, maybe thinking about some short positions to meet market conditions. bad does it get in china, i suppose? nothing goes in a straight line. we have to accept slower rates of growth as an economy matures. >> what china needs to look at in multiple angles, we have the service sector which is humming along nicely. manufacturing will create difficulties. we will see that turning around. rishaad: overhang overcapacity and we look at more this later this week. wellpacity, debt issues as . the consolidation of the manufacturing sector could go well into 2016. we are looking out for more positive opportunities in china, which include the service sector. to me, it is very much pointing toward developments in technology. we are still looking for investments in china, not necessarily all bad news. there are still some bright

. >> cheryl: let's start with asia right now. asia markets, we should say japan's market was close overnight for holiday, shanghai composite and kospi i i edging over night. >> nicole: the cac is slightly lower. >> cheryl: tuesday morning of trading, we are down just slightly, the dow futures and s&p down 3 on s&p and 26 on the dow. >> nicole: bringing on the commodities. a mix bag here is oil. about a quarter, 46, 42, gold pulling back. >> cheryl: here is how the dollar is trading against key u.s. currencies, anyway, here is the dollar versus the euro, canadian dollar and the peso, anyway the dollar is trading to the downside. >> nicole: yield on ten-year treasury, let's check this out. 2.18%. >> cheryl: third quarter loss and announcing job cuts, calls from shareholders to break up, net loss down from a property of $2.2 billion just a year ago. a person familiar with with the math most seniors are to be eliminated. you want to make sure to watch mornings with maria for maria's interview with billionaire investor carl icahn. >>

businessadd to the via acquisition in asia?nd of targets might you look at in terms of expanding the business? yves: firstly, what i want to say is that the dna of the growth strategy of amundi is organic growth. in five years, we have increased year to end by nearly 50%. that means 300 billion euros increase. it has been exclusively done by organic growth. tothe same time, we look potential acquisitions. i have a strong capital, as mentioned, reserve. of 1.3 billion euros. acquisition -- with criteria. the first is ability to generate synergies. pricecond is to have a which are acceptable, and the last which is not the least, the capacity of integration. limited execution of risk. every have done in the past, with acquisition of societe generale, which led to the creation of amundi. manus: before let you go, how worried about you about markets, the ability of markets to react to the new world of rising interest rates? simulating the risks of how markets will react. should we be concerned about market reaction to a new paradigm

in asia, what is the odds of an rba interest cut?28 economists we spoke to a betting on glenn belows cutting rates 2.8%. wednesday was tokyo's most anticipated day in years. also on wednesday, results from honda. last week's tokyo motor show is dominated by green technology. hundred and its rival toyota are betting on hydrogen as the fuel of the future -- honda and its rival toyota are betting on hydrogen as the fuel of the future. hanoi's biggest trading partner. arrives at a time of disputed oil in the south china seas. she goes to singapore afterwards. big week reported in the u.s.. we hear from janet yellen. here's a look at what we are watching. we will continue to focus on the latest economic data and whether or not interest december as policy members tended to indicate in the most recent fed statement. and, corporate earnings. we are looking at the outlook that these companies give. economistsr front, surveyed by bloomberg say employers probably added fewer than 200,000 workers for a third month this october. service jobs are

chartered,rd asia-focused.o or three years behind what ubs has done in terms of trying to take some of the capital-heavy businesses out of the portfolio. we thought he would wait longer before making the changes but he is already making the big changes. he has a lot of work to do. suisseeanwhile, credit is emphasizing more asset management. cou credit suisseld see do a deal in asset management. guy: standard chartered saying that he could do a deal. industry.t come and join us. guy: if everybody does the same, it is very difficult. alan: they are a market leader in the u.k. once you are a market leader, it can be hard to grow. , ityone is trying to do it is going to be a bit of a struggle. i would chartered, imagine, would focus more on the asian market. they have an open door with all of their connections. guy: when you look at the macro backdrop, we will hear from mario draghi later on. payrolls coming up on friday. very focused on what the fed is going to be doing. the quick the banking environment with the

got exposurehat's to asia. china is having a tough time right now.--s going to read your take to re-orientate the institution andfocus standard charters a different place. this is an asian facing base. why do i wanted in my portfolio? kevin: it is all about price. especially as we think china, china may stabilize for now but long-term we know it is all set at a lower growth rate. people question whether the current growth rate is closer to 3% or 4% or the 7% official figures. china is still slowing. the commodity cycle, commodities are likely to have a bear market. bad loan provisions. how effective and how accurate are the? they are probably going to get worse. there is far too much uncertainty, and we are still worried about the global growth scenario which would prevent us from looking at asian banks. there are other press a financial services space which are much more attractive. francine: do have any u.k. banks? kevin: we have a bit of exposure. but even there again, you have to be careful because some of those u.k. banks have significant exposu

a big head went for asia -- head went for asia.sia with china and maybe the epicenter with a stronger dollar. try andly struggling to get the growth engine going again. no easy answer. manus: no easy answer. the yuan currency has depreciated by 23% since it hooked up with the dollar in 2005 per we are up i-20 for percent in terms of the yuan. the market saw a little bit of weakness. -- in 2005. -- we are up 20% in terms of the yuan. not the answer to all of china's problems. stewart richardson: the argument would be now they are going for market base fx policy, translated to looking for gradual declines in the yuan over the longer term. managed depreciation. you can see and this off selling, setting down reserves, both european and u.s. government bonds. trillion torom $4 $3 trillion and managing currency through the reduction of fx reserves and trying to manage the outflow of capital through reduction which would release domestic money. you can see pulling virtually ever -- every level they have available. major problems now. also

. >>> now, fires in indonesia are continue to go cause haze across southeast asia.s harming the environment, but it's also affecting people's health. the burning of millions of hectares of land has been described as a climate disaster. so far 15 people have died. and hundreds of thousands have become ill. police are investigating big companies for their role in causing the fires. step vaessen has this exclusive report from south sumatra. >> reporter: this is the epicenter of indonesia's fire disaster. thousands of hectares used to make paper are on fire. an inferno contributing heavily to the toxic haze affecting 10s of millions of people in indonesia and neighboring countries. asia pulp and paper is one of the world's large of the producers of paper and packing. the company's officials took al jazeera, clues i feel on a helicopter ride to their worst hit plantation. a lack of visibility makes clear how effort to his control the fires are being hampered. the company says the blaze started outside of its supplier plantations. >> roughly around 90% of the fires in our

. >>> now, fires which are causing haze in indonesia are having a huge impact in southeast asia the nog the environment but people' health. the burning of millions of hectares of lands has been described as a climate disaster and 15 people have died, hundreds of thousands are ill. police are investigating big companies for their roles in cause the fire. step vaessen has this exclusive report from south sumatra. >> reporter: this is the end certainty of indonesia's fire disaster, thousands of hectares used to make piper are on fire, infer foe contributing heavily to the haze affecting 10s of millions of people in asia and neighboring countries. paetsch a pulp and maker is the largest producer of paper and packaging. they took al jazeera exclusive i feel on a held pop ride for the worst his plantation. a lack of visibility makes clear how the effort to his control the fires are being hampers the company says the blaze started on yo outside it's supplier plantations. >> roughly around 90% of the fires in our suppliers come outside. yes, there are fires coming from inside as well. a lot of

smoke drift hing over all of southeast asia. step vaessen sense unite us the report. >> this is the emcente epicentee issue, toxic haze affecting tens of millions in indonesia. asia pulp and paper is one of the largest producers of paper and packaging. they took al jazeera on a helicopter ride to the largest area of blaze. riffly around 90% of the fire is coming from outside. yes, there are fires coming from inside as well. a lot of them that we have investigated so far are people coming into the conservation areas, hunters, gatherers or people who just went past. >> isn't that an easy -- it sounds so easy to me blaming other people. >> i'm not blaming other people. we have response to make sure that the area of our suppliers is actually protected. >> reporter: this appears to have failed. the company blames extreme drought conditions because of the el nino condition and causing the fires to spread rapidly. supermarkets in nearby singh sie are blaming asia pulp and paper. three years ago the company announced it would stop conve

first let's start with asia. asia markets shanghai and nikkei actually strong performance. >> nicole: ftse ftse up and dax down 11. one tenth of 1%. >> cheryl: here in the u.s. monday morning. here is what u.s. market stock futures look like. dow pointing low by 33 points this morning, s&p pointing lower by 4 and three quarters in the premarket. >> nicole: let's look at gold. we see up arrows. oil up and gold 1093, just over 5 bucks. >> cheryl: here is the dollar trading, euro and pound gaining against the dollar but the canadian dollar, peso and yeb all negative to flat against the u.s. >> nicole: we talked about last week's job report. look at this 2.33% right now in the ten-year bond. >> cheryl: after last friday's strong job report, producer price index for october expected to be up two tenths of 1%. the court ppi's is expected to be up 1%. with black friday right around the corner, expected to be up 3 tenths, now, without possible rake hike in december, nicole mentioned stanley fisher will all be speaking, o

fairly flat session all in all in asia. the trade volumes, let me remind you, not much more on the ground. you're not seeing any quotes for nikkei. that is because there is a national holiday in japan. so it's reducing liquidity, reducing volumes but the main drag really stronger dollar. and also its impact on the commodities. let me pick up the e.u. and how we're discussing. strangely enough, you would have thought the australian market would have been suffering. some of the market has been. the slack is being picked up by the banking stock. a lot of investors are starting to swoop on those higher yielding banking stocks. that's keeping the market afloat. incidentally we're up for the fifth straight session. back to the australian market is helping that the fact that woollies is doing well. it has takeover speculation. a bit of speculation. broadly is the stronger dollar environment is the commodities complex and the stresses that are keeping sentiment quite fragile over here. we're trying to get the prices in higher rate

the expected sales growth for asia is a little over 6%, so it is a discount.a similar discount where these flagships are underperforming on an operational basis the broader operational in that. -- index. rishaad: it is hugely complicated, but thank you very much indeed. up next, we have the pmi released. we will be breaking that live. stay with us. ♪ rishaad: you are back with "trending business" as we have a look at what maybe moving markets this week. we are talking to the chief economist at the bank of singapore. thank you for joining us. what is top of your agenda for the next five days? onwell, those jobs numbers friday. plenty going on around the region as well in terms of policy and data. the biggest thing will be the aussie policy meeting tomorrow. we have also got these pmi numbers coming out. as soon as we get those numbers, i will ask you for your reaction. let's get to the reserve bank in australia. glenn stevens has often doubted the efficacy of monetary policy. is that a code word suggesting that 2% is about it when it comes to interest rates? >>

, and asia as a whole.ty can only be a good thing. shery ahn: thank you for that. reporting from singapore. coming up next, shares of it japanese property developer in the spotlight after the company is caught up in a probe over bad construction work. some potential market movers when "first up" returns. ♪ shery ahn: welcome to the stock exchange. trading under way in asia. beginners luck. .nvestors not making much same-store sales fall for the second month, mcdonald's japan. the recovery continues. >> i would not be happy if i found a tooth in my happy meal. in of the many businesses tokyo, you have got to go. >> i have never been to japan. they operate everything from transportation, hotel chains, retail, and they have raised their full your forecast. >> look at that. >> didn't they have an upside of 40% plus? >> income up 30%. 17 buys, for holds, zero sales for this company providing real estate. >> there is always tomorrow. thank you for that. ♪ shery ahn: trending business is up next. we have a look at

finally over asia, last week deadly floods occurred because of a continued rainfall. the frontal system is still here providing more rainfall as we go into the next 24 hours. the system and this cell will likely head towards japan so we'll see lots of rainfall once again in much of japan as we go into the next couple of days. tokyo will stay dry on tuesday with a high of 22 degrees. as for the rest of japan, looking good. across the northern areas, sapporo 7 degrees for the high but snow expected on friday. we have some beautiful video coming out of the kanto region. 300 autumn trees are at their best now. the lead-up event began on saturday, amusing tourists. people enjoyed the beautiful combination of the night sky and red and gold leaf colors. the event will take place every day until november 29th. that's it for me now. here is your extended forecast. >>> stay tuned for an in-depth look at the paris attacks and ú >> a minute of silence across europe to remember the victims of friday's paris attacks. , whereople are gathered we will be going live in just a moment.

military, given the unstable security situation in east asia. but anger over crimes and an accident related to the military presence in okinawa set leaders in japan and the u.s. to agree to remove one of the facilities. they focused on the futenma air station in dena densely populat area. aircraft take off and land within meters of nearby houses. residents fear that an accident could occur at any time. >> translator: the futenma air station site will be returned within five to seven years. >> reporter: but many people in okinawa were disappointed by one of the terms of the agreement. japanese officials announced that they will build a replacement facility off the coast of henoko in nago city, also in okinawa. many fiercely oppose building another u.s. installation on the island. the project was stalled. some expected the deadlock would break when the democratic party of japan came to power. >> translator: the base should be relocated at least outside the prefecture. >> reporter: but dpj leaders couldn't reach an agreement with u.s. officials. so

let's check in on how the markets have been trading in the asia pacific today.e's david. >> it's been very different over the last hour. unfortunately, action has picked up and as you can see has picked up to the down side especially across the chinese markets. taiwan, hong kong, shanghai and australia are now firmly in the red so that is pulling down the overall tide. it is looking much better across southeast asia, very quiet. new york was flat. very quiet as far as macro news flow is concerned and looking at a very short trading week. we'll see how things shape up after we open in hong kong and china at the top of this hour. >> i'm emily chang. this is "bloomberg west." now for a look at some tech companies we are watching during this holiday week i'm joined by our bloomberg intelligence analyst and our guest host for the hour david kirkpatrick, bloomberg contributor. david, we talked so much about square last week the company now out today with a new card reader. it allows merchants to accept chip cards and apple pay and android pay. now square originally an

first to asia, following selloff we had here in the united states, it was rough night for asia.hai composite losing 1%. kospi down as well. nicole: let's take a look what is going on in europe. the dax turned into negative territory. footsie down 35 points. that is more than half of 1%. cac is down quarter of 1%. cheryl: u.s. stock market futures looking like this as we move into friday morning. dow pointing higher by seven. s&p high higher by entire point. s&p lower. nicole: before you head out the door this friday morning let's get a look at your weekend forecast with fox meteorologist maria molina. >> good morning to you. we have a system swinging through parts of the northeast. not a lot of moisture. that is welcome news. we're not getting a lot of rain. what you will feel across the northeast are blustery conditions. wind gusts potentially more than 30 miles per hour in some areas. that will be something to watch. that could cause delays at airports. quiet picture on radar at southeast and plains. the active zone across the pacific northwest. we have rain right there. the f

let's check in on the markets in asia. chinae some data out of that is being digested by the market. the hong kong market was down significantly earlier on? zeb: we are seeing a decline today as we take a look at stocks across the region. in fact, the regional benchmark falling. official numbers on sunday and then a private gauge both showing essentially a third month of contraction. remember, china, the major trading partner to so many economies around the world, particularly in the asia-pacific. rob interior producers in australia for example. region,e across the southeast asia seeing a big decline. we had export numbers out of south korea today. however, a bit of an uplift right now. as for the china markets, shanghai down 1%, hung saying down. this is what you're seeing in terms of the movers. we are seeing difficult earnings reports from petro china, for example. air china all in play. the noodle maker late last week was the top mover, now it is down 7% on this session. we will -- we are also closely following several

this company is very dependent on asia. we will be digging into the numbers in just a few minutes. --: let's get details of 2 let's get details on our solar without, cutting their forecast to 5.2 -- $5.4 billion. that is the new range for their forecast around that number. they are raining that back in. that won't come as a big surprise to some people in the market. according to ubs, many were expecting a reduction in the company's 2015 forecast. we are looking for any insight into 2016. let's look at what they said about existing numbers on the books. third-quarter revenue below the estimate of 16.2. they see positive free cash flow generation in 2015. they are talking about their south african business writing off 568 million rand worth of cost. they are saying they see actions and developments that will by $1 billion.6 south africa market conditions remain tough. we are getting an update on the global business. the overall headline is that they are cutting that forecast for 2015. let's get to our exclusive interview with

>> this is asia edge. kong leads asia higher. hike back and focus. president obama is a manila for the apec summit. in europe, police stage raids in france and belgium. the attack mastermind is named. we will be taking you around the world over the next hour from manila to do by and paris-- to dubai and paris. apec summit,at the where president obama has landed in the past half hour. will terrorism take over the agenda? >> there is no official word whether it will be inserted. there will be a lot of chances and opportunities for people to get together and huddle, similar to what we saw between president clinton and president obama. we have been talking about world leaders coming in. present putin will not be attending. we saw them fly in, one after the airport.teat the korean present is arriving. over the next 30 minutes, we are turnbull.malcolm it is a who's who in politics. they will be gathered a few minutes away from where i am. talking to business leaders all morning, all of whom have been getting their thoughts together on what is happening in

while the markets in the asia-pacific trading lower. we see the hang seng, down 1.7%. the shanghai composite off its lows, some buying lifting that market, but elsewhere across the eastn, southwest -- south asia is down. check out the philippines, 2.5% down as leaders prepare to meet. the nikkei 225 has been lower today with exporters leading the way down. that is because the yen has been rallying. when we have these times of uncertainty, investors go into safe havens. dna, by the way, down about 8%. let's tell you how this terror incident is affecting investor sentiment across the asset classes and across sectors today. take a look at what is happening in the airline and travel space. this should give you a sense of how significant this is on psychology. airlines are among the biggest movers to the downside, along with travel agencies. as a group, they are down about 1.4%, airlines leading the way. taiwan recommends to citizens that they stay away from paris in the wake of these attacks. china airlines, down on the session, and china southern was one of the big movers