a little bit of weakness from southeast asia.open, we will be set a littleyuan, bit weaker today, the pboc moving things around when it comes to the yuan. down by 3%, a huge move for the chinese currency. techn stocks up, led by names, tracking gains in the u.s. session overnight in terms of the regional look, a regional rally extended, up for tens of 1% for the msci asia-pacific. sectors oil and gas, crude searching for the third day, gold advancing. oil prices seeing the best quarter since 2009. financials up by close to 1%, consumer names as well, and industrial metals tracking gains overnight. beenurrency space, we have watching dollar-yen closely given the data delusion coming through from tokyo this morning. it hasn't moved too much, but strengthening just a little bit. we have fallen under that 103 handle. what a month it has been for the yen. it had the biggest gain in that month since february, up 6.8% against the dollar. the biggest gainer against the pound. a quick look at the aussie dollar and reaction to that chinese

but he believed that asia was an ancient crumbling civilization whose time had long passed. the human family originated, as is thought, somewhere in asia, lincoln said, and have worked their way principally westward. just now in civilization and in the arts, the people of asia are entirely behind those of europe, those of the east of europe behind those of the west of it, while we here in america "think" we discover and invent and improve faster than any of them." i think maybe when he said that, lincoln recognized he was on a bit of thin ice. because he said, "they may think this is arrogance, but they cannot deny that russia has called on us to show her how to build steamboats and railroads, while in other parts of asia they scarcely know that such things as steamboats and railroads exist. in anciently inhabited countries, the dust of ages, a real downright old fogeyism. there he is using that damn word again. seems to settle upon and smother the intellectual energies of man. while neither respecting, nor appreciating, the cultures of asia or latin america, lincoln, like m

but also asia-pacific region. in 2013, the russians and chinese engaged in some joint naval maneuvers, which have been repeated on a number of occasions. most recently they have been ebb gauged in naval maneuvers in the mediterranean. after the maneuvers in the asia-pacific region chinese warships took a scenic look back, not directly back to base and wen over the top of japan through the sea and scared bejesus out of russians and chinese. after 2013 chinese were quite open about this but hadn't notified russians about the chosen home, through international waters. you can imagine going north back to japan rather than going north to go back to china and around japan instead of going south got some attention. after this we saw uptick in russian interest in relations with japan. you can see there's a lot of complexity in this relationship. china also launched an expeditionary trip by one of its massive icebergs into the arctic. again, going through international waters but very close to russian territory, close to t

so asia, being such a strong feeder market to the west and being able to understand the culture in asiaple think, and the philosophy, it helps as well. haslinda: it is. asian and very chinese to consult the elders before making a decision. how much does that happen within the family before you make decisions for rosewood? sonia: so, my father is a very, i guess, i would say cool boss. [laughter] haslinda: and a cold dad. sonia: he is not micromanaging. he actually gives you the freedom to build a business on your own. from time to time when it comes to major decisions we will need his approval, and i'm very transparent with him and very direct in terms of what needs to be done, and what needs to be reported. and of course, there will be ideas and incidents where we disagree, and i will not be afraid to speak out and voice my opinion. haslinda: but how our differences ironed out? sonia: usually i win. [laughter] haslinda: because you are the daughter. sonia: no, no, no. because he is very experienced and he has a lot of strong business acumen so there's a lot i learned from him. one thin

[laughter] angie: that's it for "asia edge." ♪ >> asia-pacific stocks declined for the first time inhe idea of bank balance and easily it -- and italy gives investors another reason to be wary. rba policy makers are digesting the news that australia's trade deficit was a wider than expected in may. glenn stevens expected to hold the record low cash rate. modi expands his cabinet with a goal of minimum government and the maximum governance. he is sticking to the

we want to be one of the leading hotel operators and asia. lifestyle hotel brand is really a fun, edgy lifestyle brand targeting the next generation of travelers that are much more liberal, much more open-minded. it is not stuffy. it is introducing the informal hospitality to this new generation. we have 27 around the world at the moment and we are targeting to double the size in the next couple of years. haslinda: what are you looking for in a location? are there attributes it must have? sonia: definitely within a city, location is very important. haslinda: history? sonia: history will be an advantage so sometimes we look at heritage buildings that have a strong culture and a strong story behind it. rosewood london was open in a building that was built in the 1920's and it has a beautiful courtyard, a strong history. it all fits. we also look at exotic resort locations. we wanted to explore locations in terms of resorts that are untapped as well as the ones that are very popular as well. so it depends on the location and the vision of the ow

our time in asia, so a full yen weaker.he dollar fed minutes out, brexit, jobs .ata the dollar index sing a bit of a ing a bit of a bit. across asia, regional benchmark, should be higher at the moment. nikkei 225 down for tens of 1%. have a look at what is happening , accounting for a fourth of that gains, up 21 points. samsung is contributing five points to those gains. fortunes, alsos the kospi, samsung enjoying a rise, off its intraday high, down below 2%. the reported second-quarter results earlier that beat expectations. we have our technology reporter with more info. profits sharply exceeded market consensus. how do they do it? >> the result came as a big surprise to me today, the biggest profit in more than two years due to a surge on mobile earnings. duringiphones were out the second quarter, also helping samsung sustain growth as many mobile carriers had to boost marketing spending to drive sales, so that partly shifted from promotion cost away. altogether, they contributed to stronger than expected earnings result

exports to asia. in a row we saw a double-digit decline in exports to china, third month in a row of a double-digit decline in exports to asia. it's also important to have a look at just broadly, the yen 10%, 15% weaker as well compared to this time last year. when you look at the eu, it is not as bad. i'm curious what the trade numbers will look like. is part of the u.k. the eu. we had that horrible report on friday from the u.k.. 11% stronger against the pound. angie: speaking of the yen, how much did that come into play with falling exports? very hard to separate what the impact was, but certainly when you look at june, the yen gained against every single one of these except the brazilian currency, the riel . you do understand why japan was the bottom of the heap. angie: ok, how does this all changed -- or not -- the action plan of the boj? david: they were talking about the need -- do they move the goalposts? as far as a tangible action plan is concerned, it would not be everyone, but the vast maj

data in asia.s l shaped recovery seems to be plowing on as inflation eased for a six month in a row. what are we saying here? factory price deflation, consistent for 52 consecutive months, but the drop in prices was the smallest since 2014, so that is continually being ease. we have seen factory price deflation easing for six straight months, now 2.6% down for factory gate prices in june. it was 2.8% in may. downlast year, it was 5.9% for factory gate prices for four straight months, august through november. that is easing and helping policymakers. the recovery, commodity prices have rebounded. we expect the deflation to persist, but moderate, through next year. they will have inflation by 2018, so another year or so of deflation. >> consumer price inflation easing in june, but how is the extreme weather hitting china going to affect prices? consumer price inflation has been benign and china. it rose 1.9% year over year. also easing a bit month over month, cheaper vegetable prices, fruits, eggs hel

let's go back to our top story in asia.ee, back its buying snapping up assets from club med , but now focused on getting leaner. what is behind this reversal and strategy? >> they have had a huge few , $15 billion in acquisitions announced or completed since 2010. year to interesting take a step back given that you .o have this larger trend it is a desire to get leaner and get an investment grade rating to benefit their insurance business. getting above that junk level will benefit them enormously, particular when it comes to their insurance business. the ceo saying this is one of the key strategies going forward. take a listen. >> on a consolidated balance 30 billion to 40 billion assets which can be sold. are good,conditions we can sell. we are willing to sell. >> the question is what will they sell. it may be as shift towards a new economy. steelmaking out in which made up 73% of profits and 27. they are shifting torsos health and happiness strategy, health care, tourism, travel. this could mean we could see the vestment

, south asia and middle east. i think the attack that happened in china so far by uighur population have already motivated chinese government to take a more serious attitude towards the cooperation on counterterrorism. it has its role in these regions. although there is a problem in the process because i wouldn't name which country it is, but in the process of such cooperation is not discovered that if china has most motivation, most interesting cooperative with these governments because of counterterrorism, then what if the incentives for the government to eliminate that problem so that we can no longer solicit the chinese cooperation in this regard? so we hear the chinese talk about at least privately that some governments are cooperative with china but they are also not cooperative with china. >> do you have a comment on the nuclear issue? >> the nuclear issue, the dialogue is ongoing between not only china and the united states but also china and other nuclear power. chinese policy coming to perception, russia

you are watching "daybreak asia" .looking at job cuts after the sale of internet assets. analysts say the new owners cut 3000 jobss -- in human resources and marketing. yahoo! report second-quarter earnings on monday. devaluing the aussie dollar could be the rba's best option to stoke the economy according to a veteran economist. he believes rate cuts will have limited affect as all strays benchmark rate heads towards 1%, a view also shale -- shared by rba's next governor. investors have turned more positive of the outlook for the world economy if it gold is anything to go by. hedge funds and other speculators cut their bets for the first time in six weeks from a record high position last week over concerns. has stayedonomy strong, curbing the need for precious metals as a refuge. might next guest says markets are beset by worried and profile of hissk portfolio. let's get to the views of alain bokobza live from sydney. he is head of global asset allocation for societe generale. good these developments in turkey drag th

the markets in asia are also down this morning. next guest says the outlook for this year, not all that bad. joining us from sydney is shane oliver, anp capital. it is nice to have you. we need a little bit of a half last all kind of you here. kind of view here. the reasoning is a fundamental story that shows improvement? : i think it does. we are weeks away from that disastrous brexit vote. we got the news on a friday, and yet, the world has not fallen apart. economic data looks good, europe is continuing to grow, central bankers, if anything, think domestic policy will remain easy or get easier. profits in the u.s. look to me like they of softened. we saw the worst in the march quarter. the downside of the currency in china, but it is not panic. we thought that in august and september last year. result whole bunch going on that are more positive and a lot of investors are giving credit. yvonne: are central banks going to be enough to keep the rally going? we have seen push back here and in the u.s.. talk about helicopter money in

fund in asia.pbeat. thank you so much. corporate japan is already counting the cost of the u.k.'s decision to quit the eu. ♪ yvonne: commodities doing better than stocks today as post brexit bing a little bit. we are seeing that get erased. we have seensses since the u.k. referendum and it seems like this is become. a further downside in that calm. let's go to seoul. katze seeing a down day, down 0.2%. openes there also will lower today. corporate japan is counting the cost of the u.k. decision to leave the european union. they are revising annual forecasts. from tokyo.joins us it has been rising all year. why did brexit proved to be such a shock? dave: brexit put us through a threshold at the biggest companies looking at an aggregate rough it as these levels were headed for a decline for the first time in four years. abenomics.ines it undermines the market support that had been based on the idea that profits had been near-record last year. in many of the largest companies, profits were near record

still ahead on "asia edge." we're going o see how sales will do for boeing an airbus at the air show. plus, the impact of brexit on asian exporters. we will discuss that and much more. this is bloomberg. >> it's 11:13 here in hong kong. president obama has warned americans protesting against police violence to remain respectful or risk undermining their message. the president said rallies held in many u.s. cities over the weekend were legitimate but calls any violence against officer as reprehensible crime. last week's police killings were followed by the murder of five dallas police officers, a 25-year-old army veteran micah johnson -- by 25-year-old army veteran micah johnson. and serious and respectful tone is going to help bilize american society to bring about real change. and that is our ultimate objective. >> south korea is planning a range of penalties on volkswagen over its emissions scandal. the paper says the punishment includes fine, recall orders, a les halt and a withdraw of certification. they acc

the latest member of the bull market club in asia. number eight across the asia-pacific. something to keep in mind. i was talking about the rmb, take a look at the shanghai composite. we are seeing a lot of pressure on this market. pressure on asome lot of these developers, materials, cement. have a look at some of the main benchmarks. -- we are seeing some pressure. up with thethings kiwi dollar. dropped early this morning following inflation data. at these levels for the most part of the morning. yvonne: thank you so much. softbank said to be nearing a $32 billion deal to fire british so my conductor -- to fire company.emi conductor >> this is going to be a blockbuster deal. acquirebillion deal to arm holdings, listed in london. it supplies apple, a big-name for softbank to be acquiring. they will offer 17 british pounds for each arm holdings share. cambridge, itn has really come to dominate the design of smartphone chips. lab in ad in a small converted barn and has its designs in 95% of smart phones. it generates royalties when people use its architecture. a potential

welcome to "daybreak asia," coming to you live from our asia headquarters in hong kong.ann.vonne positive earnings pushing the stocks to a fresh record. action in new york. much run byry optimism over the current earnings season. check out the closing numbers. the s&p 500 on a record, the sixth time in three days. records.posting and providing a big post -- big biz, markets resilient and after bad earnings, good earnings making the market rally. it is better than expected. microsoft up 5%. strong earnings for them. and morgan stanley coming with better than expected bond trading revenues. that lifted the banks. and technology, price cutting will be a priority from marvell. and chipmakers at their best performance in teen years. -- 16 years. david: -- yvonne: and even after the bell -- su: they got it at the high end of the midpoint. they did also come in with slower growth in the chip division. there is concern that intel will not be able to wait -- make up for the weaknesses on the revenue side. shares down after hours and it could translate into the thursday session. q

angie: what about asia? more than japan. >> and that is a good case of disappointment, ok central bank, ok fiscal side, but difficult reforms are required to move things to the next level. it is mixed onay what prime minister shinzo abe has achieved there. asia still is the bright spot, but it has been hurt by falling export prices, falling commodity prices, by what is happening in china. where we once had asia that held up so much promise, we're finding out asia is having a slower year as well. angie: gdp figures to confirm that likely this week. we will leave it there. thank you so much there. modest growth to continue. checking in on some other borse's deutsche decision will be reached on monday after parties involved examine a technical issue. they have until tuesday to tender their shares. shareholders approved the merger last week and a near unanimous vote. south korea planning penalties on volkswagen according to sources. the paper says the punishments include fines, recall orders, and withdrawal of c

>> if you look at it from absolute numbers, asia, asia pacific region has perhaps the largest number of hungry and undernourished people in the world. talking about close to 795 millioion people still beieing hungry in this world. 490 million are in asia pacific region. so we have a lot of work to do in the region. >> how is climate change affecting food security in asia? >> you know, this 2015-16 has been pretty hectic here because of the el nino. if you look at the last hundred years we have never had any el nino phenomenon that is so vast in term of its impact. let's take the case of fiji. fiji which had some time in march/april this year a category 5 cyclone. as a result it has had hugee crp damage and livelihoods impacted. $61 million for a small country like that. amamong the m mekong countries, every one of them have been impacted in one way or the other. vietnam alone, 83% of the country was affected because of the drought situation. 18 provinces were declared drought and it also had some serious salt water intrusion that caused emergency at different levels. one devastation,

welcome to daybreak asia.

in asia, trying to get approval for that. also ttip in europe and in fact he has the negotiator coming here tomorrow to talk with him. mr. rhodes: not to speak of trying to work on an investment treaty with china. mike has done a great job, as i said, in his present role. but he also was in the white house in the first obama term. worging -- working on international economic affairs, advising the president. i had a good chance to work with him both on the korean free trade agreement, as well as negotiates -- negotiations with brazil. so we're very fortunate that he's with us here today. mike, would you please come up and then we'll have some questions afterwards. [applause] mr. froman: thanks very much, bill. it's an honor to be here, talking about the importance of u.s. leadership with this distinguished group. i think the title for that previous session of multilateral cooperation in a turbulent world seems to be particularly timely at the moment. in many parts of the global economy, growth is uneven and weak. in china, pro

that is on bloomberg.com/asia. check it out.comes have taken a tumble for one of hong kong's most successful makeup companies. is it time for some cosmetic surgery? we will hear from the cfo. next, predicting a limited impact, j.p. morgan's take on how the uk's decision to leave the eu could play out in asia. this is bloomberg. ♪ angie: let's check again on the markets. it is kind of quiet out there, except for what is happening in your neck of the woods. can you hear me? i think were having a little issue. ok. you can hear me. is quiete saying, it in the markets right now except that ratings outlook downgrade and the banks in australia. not overly surprising given the ratings watch put in place. they areust saying watching closely what will happen with the government and what they would will do with debt levels, consolidate the budget or not. levels have rocketed pretty quickly since 2008, 20%. that is generally a trigger when you see a ratings downgrade. the impact on the markets will not be as severe as currently thought of.

so asia, being such a strong feeder market to the west and being able to understand the culture in asiaeople think, and the philosophy, it helps as well. haslinda: it is. asian and very chinese to consult the elders before making a decision. how much does that happen within the family before you make decisions for rosewood? is a very,my father i guess, i would say cool boss. [laughter] haslinda: and a cold that. sonia: he is not micromanaging. he actually gives you the freedom to build a business on your own. from time to time when it comes to major decisions we will need his approval, and i'm very transparent with him and very direct in terms of what needs to be done and what needs to be , reported. and of course, there will be ideas and incidents where we disagree, and i will not be afraid to speak out and voice my opinion. haslinda: but how our differences ironed out? sonia: usually i win. [laughter] haslinda: because you are the daughter. sonia: no, no, no. because he is very experienced and he has a lot of strong business acumen so there's a lot i learned from him. one thing i make

yvonne: that is the word from asia. china faces a $500 billion bailout for its banking system if a recent survey is right. we will break down the figures for you. no clear winner as australian elections come down to the wire. decision made by the rba. latest headlines. baghdad's worst attack in a year has killed 115 people. a truck exploded underscoring the ability to extremists -- strike.tremists to with the streets filled with people. china has announced six days of naval exercises. where games will start on tuesday -- wargames will start on tuesday in the south china sea. the exercises, had of arbitrations on a disputed water from the hague on july 12. china has said it will ignore the outcome. demonic rapprochement between israel -- the diplomatic rapprochement. it will be distributed this week. global news 24 hours a day powered by over 2600 journalists and analysts in more than 120 countries. this is bloomberg. look at what is driving the markets. really great to have you. calm hereing relative in markets. there i

that is at bloomberg.com/asia.coming up later, when it comes to ipo's, what makes hong kong one of the top markets? we will be asking benson wall. can asia's market sustain their bounce back from brexit? we will be speaking with rick spooner. angie: precious metals on the rise with silver topping $21 for the first time in two years. let's get more with rick spooner. silver not really a precious metal, but certainly a safety haven in this world of ours. why are people flocking to it, rick? the precious metals complex has two things going for it. we obviously have elevated risk levels around the world. geopolitically, particularly in europe. at the second time it has a double whammy of being likely to benefit from low interest rates for a considerable period of time. that makes it a more appropriate safety haven vehicle been getting out of equities. we have seen this quite spectacular bounceback and equity markets where the risk is short because low interest rates are pushing people back into it. low interest rates a

asia mixed. basically flat on the msci.mes are quite thin, especially in australia and center ---30% thinner. we are looking at the drop in the kiwi dollar. we were looking at gains post-turkey into early this morning, then inflation data came out. .5%, but therer is the drop their, a 1.3% drop. once the data came out, the -- a 62% chen chance -- chance that the central bank could cut rates. as far as the markets are concerned, this is one of the least exciting at the moment. angie: not even a coup will shake things up. the situation in turkey after the failed coup. the government of president juliette: --president recep arrested 6003 has at what is the latest right now? a gift from god, that's what president erdogan is saying after the coup attempt. nightgain for a third thousands of people rallied , takingresident erdogan to the streets of istanbul and flying their flags. once again, president erdogan pressed the united states to extradite the cleric who he says is behind this failed coup attempt. before 2014, president e

, south asia and the middle east.neither country sees its interests as served by forming a strategic alliance against the united states. the statistics speak for themselves. although sino-russian trade has increased 20 fold over the last 25 years, reaching a level of $100 billion in 2014, the reality is that u.s.-china trade is about six times larger. china doesn't forget that. in other words, the economic relationship with the united states is fundamentally more important to china than the one with russia. chinese investment is pouring into russia enters essentially no reverse investment from russia. so that the hundreds of billions of dollars of foreign direct investment in china that is speeded up on its economic development doesn't come to russia. it comes from the united states in western countries and neighbors of china. until the ukraine crisis in 2014, i think you can accurately characterize russian-chinese relations as strong, healthy and friendly. this was reflected in public opinion polling in both countrie

asia pacific stocks, we have strong earnings.itive about the economy as well as stimulus packages. electric trucks, buses, safe autopilots. elon musk unveiling his plan. a money trail of stolen billions kuala lumpur. the jakarta session is getting underway. david looking at the state of play when it comes to the market. david: something for the bulls o put their hats on today. bank indonesia is expected to ove on the reference rate. shares are up. not surprising giving -- given a sea of green.

asia next.n the fed cap interest rates unchanged.s say a short time risk has decided and described the latest labor market data has strong. samsung announced a one $.6 billion share buyback -- $1.6 billion buyback after aggressive cost cuts hoping it be estimates. -- beat estimates. carriers promoted the a seven. the iron ore mine remains idle mudslide killed 19 people, distorted village and polluted waterways. thesays the chart reflects funding obligations. global news, 24 hours a day powered by more than 2600 journalists in more than 120 countries. this is bloomberg. yvonne: thank you. let's get a quick check on how asian markets are tracking in early trade. let's go to juliet. juliette: we are seeing the index a little higher in the early session, but certainly the weakness coming through with japanese equities, the nikkei down 8/10 of 1% as we continue to see the yen surge. asthma -- asset manager said there will be a tug-of-war in japan between theing on expectations that bank of japan will disappoint when it comes through with

for more, let's bring in the asia emerging markets editor. we are seeing this reflected in the china reserves. what exactly is going on here? >> people are increasingly betting that the pboc is cutting back on intervention in the currency and allowing more of a decline in the yuan as they seek to help their exports. so they see a decline at a very frantic pace earlier this year, late last year as well. people are reading in that there is some sort of a reduction intervention. we have seen the yuan declining for a while now. yvonne: there is a chance there is -- that the deceleration could lose control. what we saw earlier, we saw in august and january as well that the pboc sometimes tends to miscalculate what happens with its policies. we talked about it yesterday and this morning. finds the people are more sanguine with the decline so far. yvonne: i want to bring in stephen engle. it looks like this is a very surprising bounds. stephen: yes. $13 billion up to $3.21 trillion u.s. they had to defend the currency after having the sharp devaluat

asia is mixed.aiting for the next catalyst no major data points due out today which could provide, or the labbling thereof, keep things at base. yields are basically mixed. red is coming down, green yields are coming up. 155, 156. having trouble getting that out. big drop in the aussie and kiwi yesterday. this is strengthening here, the china offshore. nintendo is row ep o-- reopening, it was falling, at the moment, 12.5%. tech crunch reporting that the launch in japan of poke mongo go set -- of pokemon to be strong. >> shares are plunging in sydney after mixed production numbers. we are joined by paul allen in sydney. how do the numbers stack up for v.h.p., paul? paul: it's a mixed picture, angie. not so great. the foirt quarter production was 55.6 million tons which was a miss, down 7% for the same period. last year. mainly due to work on the rail line that's been happening in western australia. being the fourth quarter, we have full year pig figures as well. b.h.p. have been going out of their wa

it is my belief that it is going asia-only phenomenon, that it will be contained in asia. kirkpatrick says line will have a tough time differentiating itself as it competes with facebook and tesla . >> how much is that difference going to be valued by the users and the world and the marketplace when you have this governor of facebook with what's whatsapp and facebook to i think you have to ask yourself, how much can they differentiate right being more contact-centric and more entertaining? , they are a real opportunity. it is not because they are a tech come pretty. they are a little bit more like disney. onnne: that was the word line. let's update you on the situation in nice. dozens were killed when a truck drove into a crowd celebrating bastille day. french president francois hollande has called it a terror attack and extended a state of emergency. to happen inpect the next couple of hours? >> about 3.5 hours from now, the french president will be holding a national defense counsel meeting. after that, he and the prime minister will be flying to assess the situation. a

data expected out of the asia-pacific.rishaad: i am avenue freeze on mf revising down global growth. has also revised down japan's growth as well. to sayd the imf have about japan and the stronger yen? to boost theon japanese economy is neither useful nor necessary. they cut the growth forecast to , but did downplay the need for a weaker yen. they said it was challenging for japan to reach its inflation target and should use the available tools it has to boost the economy. they also pointed out wages and said some attention should be paid to the wage setting process. the imf chief economist says the calls for helicopter money shows the need for fiscal policy. >> it is a colorful med o metaphor, but it skewers the problem, which is conventional bearing policy has been the entire burden of maintaining price expectations and supporting economic activity. without enough help from other government policies, for example structural or fiscal policies. lower forecaste globally comes after brexit and an overlay of risks in the econ

many of the so-called fish are pulled from the ocean around southeast asia with devastating effects. these small and young edible fish are left to rot in the halls of vessels for days on weeks on end before being handled. fleets of trucks and sport tns of rotting fish on each vessel on the processing plants where they are ground down and wash and cooked into powdered fish far for food -- fish flower for food. alongside the species on fishing vessels, the searches documented pockets of juvenile sha species,aiting to be sold. these tropical fish are used as protein for the booming sugar industry, the largest exporter in the world. at what cost to the ocean? >> [speaking foreig language] >> laced with increasing quantities of edible fish, local fishing communities are losing out. >> [speaking foreign language] >> they say the by catch is accidental. >> [speaking foreign language] >> is not just the net and fishing techniques that are controversial however. working undercove, one told us many who unload at the plant are often under licensing agreements. >> she claims her company is a pro

you are watching "asia edge."ch employees have been handed a patriotic notice that says they will be fired if they buy an iphone. >> this is a chinese tech company that has 50 employees. they have been put on notice, and the letter has gone viral. it's as if they buy the new iphone seven, coming out in firinger, they will face immediately. they are trying to get rid of people who may already have an iphone. they will get reimbursed to the ,une of 1000-2.5 thousand yuan and hopefully, the company may actually help them match the iphone in the name of patriotism. apparently, that is extended to kfc. >> kfc has 4000 outlets in china. a lot of the people protesting in terms of national patriotism see kfc and apple as signs of the u.s. the see the protests outside kfc, which chinese state media criticized, saying it is jingoistic and a disservice to the nation. a lot of this is about the international tribunal rejecting china's territorial claims in the south china sea. we have seen iphones being smashed, and also, peo

juliette: it is a pretty good session in asia.ional stocks holding on to or near three-month highs, really led by the surge in japanese equities. the nikkei up by nearly 3%. it is only tuesday and japanese stocks up by almost 7% over the course of the week. all of these on speculation, or expectations, that we will hear more bold economic stimulus plans by the prime minister. the yen also weakening after its drop yesterday. we had a pick up in australian business confidence and conditions which is helping the market. shanghai went on its lunch break pretty flat after a down morning session. hong kong up half of 1%. there has been good movement in the casino stocks. upgrading the casino players. galaxy up. macau has also been a standout. the korean easing against the u.s. dollar, showing more sign of the dollar strength. we are seeing good movement coming through following the global equity rally we saw in the u.s. more central-bank stimulus hopes. we have this uncertainty over elections in australia, japan and britain. the japanes

a little bit of mixed movement coming through from southeast asia. to come, turkey's message for investors that life is back to normal after the coup . we will have our exclusive interview with prime minister binali yildirim with what is next for the nation, with the turkish lira still trading next to record lows. ♪ ♪ angie: welcome back. a quick check of the latest business headlines. willie and him may be facing a takeover. the israeli founded holdings say they are considering a joint offer. they have until august 21 to formally announce the bid. this sunday times says the offer could be worth $4 billion. william hill has been struggling to boost growth. benjamin harrison yahoo! -- benjamin harrison yahoo! says clancy are trying -- prime minister netanyahu told a cabinet meeting that he wants to change that concentrated market. the government has proposed easing regulations, paving the way for new television channels. says theinali yildirim government is planning a multibillion-dollar infrastructure fund to keep growth on track. he told bloomberg t

some of these markets, like -- asia ish korea like this, 6/10 of 1%. to two month, three-month highs, especially across southeast asia. volumes a little bit on the thinner side, of course. hunt saying and shanghai composite, a little bit heavier than usual. break it upto across sector groups, everyone is pretty much higher. a lot of the focus today has been on these mining stocks. we are basically back to levels of two years ago. there is a lot of money going back to the safe haven currency. there is also money flowing out of those safe haven currencies. for example, you're looking at a decent bid across these currencies in southeast asia. very quickly, i just talked .bout gold if you think gold is expensive, silver is actually much more expensive relative to gold. this back now taken to levels of august of 2014. you can buy the least amount of silver using gold, just looking at this right here. something to keep in mind as we push forward. day rsi. 14th let's continue the conversation on investment ideas. we're are now joined by the head of investment

that is it for us on daybreak asia today. with coming up? at the aftermath of those results, better than beected but neil shaw will joining us and will be going through those numbers. what happens next for the world's biggest technology company? as weing the apple cart go to the launch of the iphone seven that may will be showing from counterpart technology. iphone sevenof the are very high but they have been dampened in recent. when it comes to the iphone, it will be the 10th anniversary. the eight is what we would be gearing up for. plus trillion inflation, quarter on quarter inflation up by point or percent. the price index also on year on year. it should be bitter food for thought as it is pondering interest and giving a lot of was a room when it comes to cuts in the cost of borrowing that. mean ford it all president donald trump? that presidency, what would it look like? it would be the current economics editor joining us for that coming up. ♪ ?c+sv ♪ it is wednesday the 27th of july. i am rishaad salamat. this is "trending business". ♪

rishaad: let's look at the rest of the asia-pacific. series of countries that might be cutting interest rates, we have already to about whether they work or not. tell us about the ones you think will do better than the others. >> the one thing likely to do better in the coming years are the countries that are less trade-exposed because local thee is not feeling up and ones with low debt because they can accelerate credit growth. the two that stand out in those terms are the europeans and indonesia. that,rkers are telling us the currency is doing well, the equity markets have rallied. those are the countries that have the biggest scope for improvement. rishaad: and the biggest of for infrastructure improvements on the fiscal side. >> that is right. in the philippines, the new administration has very aggressive plans on fiscal spending. thisre looking to double goal infrastructure spending over the coming year and that will provide a big boost to growth. rishaad: want to worry about chris mark lyons we worry a little bit about the countri

. >>> many other markets of the asia pacific region joined the global fall on equity prices. the shanghai composite closed at 3,012. a report that has cast down on additional monetary easing dampened sentiment there. in indonesia, the jakarta composite ended down. many analysts had expected a further cut. hong kong's hang seng index declining by 0.2% snapping a two-day gain. singapore bucking the trend up nearly 0.2%. >>> it's been one month since the people voted to leave the european union. to get insight into where things are heading after brexit, nhk world spoke with jim rogers in singapore. he's a high profile investor. rogers bet on the decline years ago. he has been an active trader. we started by asking rogers for his take on the impact of the brexit vote on the asian region and the risks that lie ahead. >> many markets seem to have recovered and stabilized from the initial brexit shock. but jim rogers thinks the uk should be prepared to deal with major disruptions. >> before it's over, we're going to have a serious crisis in the uk. the uk has huge dedebt. the uk has

it seems like a relatively soft open in asia.cks pretty much flat in the first hour of trade, up 10th of 1% and australia. stars may be a lining for the australian bears, the austrian dollar at $.74. stocks could see retracement. we mentioned the boj meeting. has stabilizedn after the brexit vote at 106. stocks could see a bump this morning, so it could be a mixed picture. how does it look on wall street? betty: we did close at a record again. the picture will change this week. you have the central bank .eetings, but also g-20 they reiterated their support for globalization and the economy. the, earnings out, so picture will be different this week. su keenan has more on the markets. part of it will be the big deal announced by verizon. >> it is supposed to be announced before the open, bringing to an end months of speculation about what yahoo! is to do. is to pay $5 billion for the core assets, may include real estate, intellectual property could be sold separately. yahoo! steak and alibaba and yahoo japan are worth $40 billion a

. ♪ >>> the island of cebu in the central philippines is home of some of the best beach resorts in asiatracting more than 3 million tourists each year. ♪ cebu city, located in the middle of the island is the second largest city in the philippines, following manila, the capital. english-language schools have been opening all over cebu city. at present, there are more than 200. they range from schools with only a handful of students to schools with thousands. ♪ the majority of the students are young people from asia. last year alone the number coming to cebu to study english grew to 150,000, with the figure rising every year. cebu city's largest english school sits in a district of government offices. smeag global education opened two years ago, through a joint investment between south korean and japanese firms. it has three buildings in the city, accommodating about 1,000 students in total. ♪ all the students stay in dormitories. there are cafeterias, stores and other facilities for students to enjoy, so they don't really need to leave the campus. there is also a movie theater, which scr