we are looking at losses across the asia-pacific.t opening up, losses accelerating, especially australia, now underwater for the asx 200. asian stocks were up five straight days until this morning. we are giving back some of those bens ahead of what will crucial jobs coming out of the u.s. on friday. that may change things completely as far as the rate outlook concern or it could accelerate the pricing we are seeing, especially across the bond markets. asian stocks on the way down. as promised, bond markets, that is what we are seeing. the big story is south korea, a sharp drop as far as yields are concerned. especially the longer-term debt in south korea. 1.81 is the korean 10 year. we have the release of the latest central bank minutes, which shows one member that a preemptive cut would help the country prepare against external risks. data we got from seoul, korea this morning, inflation flat month on month, exports surprising to the downside, -6%. it's exporting engine has run into a bit of a snag, if you will. , 10 year, -11 basi

we are creating all banks across asia pacific.s q this when you look at some of them metrics that the banks use, such as nonperforming loans? notndeed, they do, but inordinately. just to give you a breakdown of the loans. chinese would account to 40% of thenonperforming loans, but indian banks, the japanese banks, and the indonesian banks, are also party to this. indian banks contribute 20% to these nonperforming loans, as do the japanese. if we look at some of these chinese metrics, the return on equities are very health the, at least it looks like it on the surface of it, but you delve deeper and there are some doubts there. return on equities will be a key measure, is it not? it gives us an idea of the pulse of these lenders, right? absolutely. when i talked about the golden decade of growth, it was not just growth, but also profitability. banks,looked at chinese they had a return on equity of 20%, as did the indonesian banks , and that's where we would see a significant amount of pressure moving forward. we would anticipate th

head of asia-pacific economics and markets now at citigroup. ♪ angie: it is the middle of the asian trading is "asia edge." top stories this hour, markets are down in japan concerned about weakness in the u.s. winners, the company is valued at $16 billion. the china-u.s. dialogue. also coming up, challenges for the engine that powers the factory of the world. a special series on china with a look at manufacturing powerhouse. juliette: keep an eye on the payroll the u.s. numbers disastrous. asian markets being sold off. really led by japan, down by over 1%. bit of a breather after last week, posting their best five-day gains since march. a 4% chance the fed will list this month. that hasn't investors flocking to safe havens.

asia-pacific down .5% at the moment.oss financials leading losses, as well as oil and gas sectors. you spoke about some of the movers. we are looking at hong kong listed stocks exposed should we end up getting a leave. down, off the session lows. sharp also plunging. , that tokyo session double when me of the stronger to and restructuring to move the secondary market. this is what we are watching in terms of currencies. the yen has been all over the place today. it is starting to strengthen again. we are seeing that play out in terms of the appetite for equities, a complete reversal from earlier in the session. we had those gains in terms of risk appetite-friendly currencies, the aussie and kiwi, playing out with appetite flowing back into safe havens. gold for example, traders were worried that it would break that 1260 level. surged past that, gaining a 10th of 1%. ,ame when it comes to the ftse now a repricing effect, extending gains by seven tens of 1%. risk off sentiment playing out in the oil markets. brent was hold

. ♪ rishaad: japan leading the asia-pacific higher. markets convinced britain will stay in the european union. the pound reflecting that as the latest polls show the remain campaign gaining momentum. oddsmakers see a 30% chance of a brexit now. the rupee expected to come under pressure as raghuram rajan heads for the exit. let us know what you think of our top stories. follow me on twitter. greater china markets, shanghai, and hong kong underway in half an hour. our markets reflecting what is going on elsewhere? >> these are our opening levels across taiwan, malaysia, and singapore. it was a move that started on friday as markets continue to to the sudden turning in the tide in favor of the remain vote. best day in two weeks in south korea. best day in one month in sydney. best day in two months for the nikkei 225. were looking at gains across the board here. these gains are enough to erase the losses last week, so roughly trading on the benchmark eyes level in a week and a half. main market story, the u.k., the upcoming referendum. we

we will look at the knock on effect in the asia-pacific. rendum aside, discussing what the other long-term risks are to asia markets. that's right here on "trending business". ♪ lindsay traders in asia will be at their desks well before dawn as the u.k. decides its future. -- currency traders in asia will be at their desk well before dawn is the u.k. decides its future. which way is it going to go in your view? >> it is difficult to say. aremakers on the markets not particularly clear in terms of the outcome. is generatingoing a lot of uncertainty in terms of how this plays out, the implications for markets, what that means for volatility. people are not putting forward conviction ideas, so there are very thin markets with volatility. in the near term, unless we get a very clear signal, a decision one way or the other -- it is binary. if the u.k. decides to remain, it is all systems go and risk is put back on again. if there is the uncertainty of an actual brexit, then you look at risk markets as being vulnerable and look at the safe havens

at a strong rally midmorning across the asia-pacific. hang seng up 1.2%.latest retail sales report this thursday. it is another bad number we are expecting, -8.8%. the number does include a holiday at the beginning of may. it doesn't exactly bode well. we are looking at 18 straight months where retail sales have fallen. it is pretty bleak. that number comes out when the markets close. overallooking at gains from the cross we hit on friday after the brexit vote. we are about 1.2% try of complete the racing those losses. -- completely erasing those losses. pound sterling flat after a two-day rally. the average i'm looking at is 1.20 by the end of this year, similar -- so more downside here. that is the forecast. , we had a fixing a few minutes back. let's look at offshore first. i was speaking with the head of rate strategy earlier, what is fair value at the moment? they are looking at seven. call it a range for the onshore spot market. valor-yen is where the action is, 102.75. we are at session lows. where theyen is action is, 102.75. we are at session lows

has stationed marines in northern australia since 2012 since the pivot to the asia pacific region. the new unit is to put pressure on china. that pressure comes as the u.s. and asian countries closely watch beijing's actions in the disputed south china sea. an international court is set to rule on one conflict there. a case filed by the philippines over china's waters. the court of arbitration said the ruling will come on july 12th. the philippines maintains that china's argument is groundless. china says its claim is based on control over the waters over centuries. also believes artificial islands build by beijing cannot grant the country maritime rights including an economic zone. chinese officials have repeatedly stated the country will not accept any decision by the court. beijing said the dispute should be resolved between the parties. he has said he may shelve the dispute if china offers financial aid for infrastructure developments. >>> north korean leader kim jong-un gave himself a new title in pyongyang. the title is yet another top leadership role for kim. and it comes a

that is the equity position for the asia pacific.43 hong kong singapore time. >> stories making headlines around the world, david cameron has accused the leaders over the brexit campaign of lying to voters about the risks of leaving europe. he spoke on the rep. referendum which is two weeks away. he said the campaign is resulting in truths to get people to take a leap into the dark. undecided voters hold the key. the new zealand interest rate cuts this week are waning. there is a chance of it being lowered to 2% cash rate on thursday. economists views mixed with 10-17 surveyed by bloomberg expecting the rate will be held at 2.25%. rising fuel prices, tax increases and a housing boom may give wheeler a cause to delay despite flagging inflation. china is speeding up efforts to build a manned deep water lab in the south china sea. they said it will be used to search for minerals and could be as deep as three kilometers below the surface. beijing said it owns 80% of the water way although it is contested by five southeast asian nations t

the level of high attention reflects the shared understanding that security in the asia-pacific region matters to global security. china claims almost the entire maritime area as its own, while the philippines, vietnam and other southeast asian countries claim parts of it. beijing has built manmade islands and deployed advanced radar facilities and missile batteries in the disputed region. in may, a u.s. warship carried out the freedom of navigation operation near a disputed reef. the pentagon said it was to challenge the excessive maritime claims of some parties. it was the third operation in the last six months. the dialogue is the last chance for both camps to make their points ahead of an imminent landmark ruling. last year, the philippines brought a case to the permanent court of arbitration in the hague over china's claims of sovereignty over the south china sea. >> i do not believe china is going to accept it. china may also ignore it, because as the chinese government stated many, many times, that china is a sovereign nation state, would not let international tribune to make an

be remembered as the generation that inflicted a crippling wound on america's leadership in the asia pacific region and around the world. china is executing on its strategy, rcep, the one belt-one road initiative, the asia infrastructure investment bank and other regional policies. we are one vote away from cementing our leadership in the asia-pacific region or ceding that role to others. it's just that simple. that doesn't strike me as a difficult choice. before i stop, i'd like to say a few words about ttip in the aftermath of the vote in the uk. the people of the united kingdom have made their choice. our relationships with the uk will remain special, and our relationship with the eu will remain strong and enduring. we are evaluating the effect of brexit on the ttip negotiations. the economic and strategic rationale for ttip remains strong. we've made a lot of progress on the agreement during the last eight months, and our goal remains to continue working with the eu to conclude an ambitious, comprehensive and high standard agreement this year. to do so, we're going to need a creative, pr

the msci asia-pacific index excluding japan up 3/10 of 1%.rgy stocks leading the gains on this index with the oil price rising. the msciurse, overall pretty flat, if you include those losses that we are seeing on the topics and the nikkei. in just over 24 hours, polls open in the u.k.. birtons will vote whether to remain or stay in the eu. we see sterling gaining against the dollar, approaching a five-month high. 1.47.nt above the $ i want to show you the bloomberg british pound index, this is brand-new, the euro-dollar, aussie dollar, chinese currency, 12 years of daily history. i distracted so far. this year, at the end of the chart it is heading higher. we are see sterling gaining higher. but elsewhere in other fx markets, you see a bit of risk in the sense we are seeing higher-yielding currencies gaining against the dollar. new zealand dollar, the canadian dollar, the aussie dollar they're all up. euro slightly higher, too. but the yen also up 2/10 of 1% against the dollar. we are still seeing that move into the safe haven of the yen. and

asia-pacific. if this opec meeting. however she translates into the markets here in asia. we could be doing much much worse. were it not for the rally between february and may. it took the index about 135 from 115. let's see of course how this happens. this is one of our big stories in the asia-pacific. the selloff we are seeing in the tokyo market. 2.3% down for the main benchmark. the is being driven by relationship between the dollar and the yen. one policy board member of the bank of japan saying that cpi target it is unlikely we will reach that. good stuff, david. later on will be hearing from a traitor who believes crude prices will fall again. right after this break a in-depth discussion of the middle east bond frenzy. ♪ the worldwide rush to sell billions of dollars of debt on the international market. is the market being overlooked? thank you so much for joining us. we collect a lot of the data. that's what i want to our viewers. $20 billion so far. was just looking back over 2015 in 2016. 35 billion bucks last year. is to cook losing its market share. in 2016 if

let's take you to the market action as far as the asia-pacific goes.equities go, feeling some of the losses. david: down as much as 1.2% on the benchmark. just about technically flat at the moment. the market getting some losses. five minutes, it reopens in hong kong and china. equity prices have uncertainty remaining. before i show you what is happening, have a look at some of the yields in japan. we begin with seeing yields all the way down and then we have the results about one hour back showing fairly healthy, robust demand at a low yield in the two-year at -.3. what we have seen in the past 30 minutes is everything continuing to fall. you can look at the two all the way to the 10 year, -22. if you look at the longer yields, that is your market story. at some point and at this rate, do not be surprised if it is sold below zero because everything is below .1% with .09.ar at .08, one of the analysts in japan telling bloomberg that demand is still robust. it will attract more people back into the market. equity markets looking like this as we enter th

we are still seeing risk appetite across the asia-pacific. 74.74. some strong gains here in asia.nna: thank you, david. eutain's referendum on membership is back on the balance with several polls showing leads for both sides. tooll for the times has 44% 32%. a survey by the delhi telegraph -- daily telegraph is it is 43% to 46%. jeremy corbyn told an audience why he is staying in a reformed eu. >> there was also a turning point because if we leave, i don't think there is any way back. if we remain, i believe europe has to change dramatically to something much more democratic, accountable. anna: brexit campaigner and leader nigel urged voters to quit the eu. >> we must go out there and sell this political class we want our country back and make june 23 our independence day. parker from credit squeeze joins us now -- credit now.redit suisse joins us talk about what the assets will be like coming thursday. u.k.idelity thinks the hopes to the value in terms of some of the chaos. we have seen stocks doing better than the pound was doing. i have a chart that shows the 30 day correlation

it will be asia-pacific.ing into a high-growth story which is what the private equity houses love to do. alix: what kind of sectors will we see the most p/e activity? it sounds like you're talking about mainstream. >> certainly midstream. split roughly 50/50 between upstream and midstream. for those in the downstream, there is not much interest. you've got one group that will target upstream heavily in the u.s. they understand that supply chain and how to make money. you have one group that will target the infrastructure assets in asia-pacific. you've got a much smaller set of interests between those two that will look into either oilfield services or into downstream but it's those two that -- where we will see interest. of that workslot because interest rates are low and you can put it in very efficient debt structures. if interest rates start to climb, i have a question in my mind about what that does for the demand for infrastructure type assets. scarlet: we will leave it there, thank you so much. alix: it

asia-pacific. 1.5% down when it comes to the topix there.ndia flirting with the gain line in the hong kong market. they are on lunch at the moment. the nikkei 225 down. china is not as pronounced as it is elsewhere. you can see that with the nikkei, he hang seng 0.25% down. mounting concerns about britain's future in europe. or more precisely, britain's lack of teacher in the european union. recent polls suggesting that britain could be about to leave the european union. we will talk about the ?c+sv rishaad: 90 minutes into the trading day. the australian benchmark following what is going on. having more pronounced losses than elsewhere in the region. up by -- off by 2%. top stories on "bloomberg markets: middle east." suggest the leave campaign is ahead. japanese and australian bond yields hitting new record lows and the yen, strengthening. may be duei stocks for a rally according to the moving average convergence data. those figures put the buy signals at 40% of the members. it mirrors the bounce that sent the index into a bull market. jus

holding on to very solid gains in the asia-pacific. we saw the yuan strengthen against the greenback. new zealand a little bit weaker. have a look at the commodities players as well. we are asking -- crudely onto those gains. -- crude holding on to those gains. having a quick look at the currency board as well, we have seen the reaction to the japanese yen coming through after the gdp number. still continuing to .the aussie dollar a little weaker. we had home sales come out of australia today. but the name number investors will be focused on is the china trade exports. having a quick check now, we have seen the nikkei go into negative territory. the nikkei down by 12 points. that is probably a response to the fact that we have seen the yen strength and after the gdp numbers. as expected, downward pressure through australia as it continues to open up. korea holding on to those very solid gains that we saw during tuesday's session. a bit of a mixed picture. for wrappingyou that are for us. wanting a foothold in america, but sparring over

commitment in asia across the pacific ocean. entral to president obama's economic and military rebounded asia. as you know the tpp was signed last year. 12 member countries including australia and vietnam accounting for 40% of the world economy, it is the biggest u.s. trade deal since nafta in 1994. is now waiting to be ratified by the legislatures of the 12 member countries. there is risk that the treaty may unravel. both u.s. presidential candidates, donald trump and hillary clinton, oppose the deal. companies like ford motor oppose the deal. say they wouldps safeguard company profits at the expense of workers. some u.s. lawmakers have called angie:to be renegotiated what are the chances of tpp being ratified anyway? >> the best chance to ratify the pact will be after the november elections the lame-duck session of congress before the new congressional term begins in early january. republican senator john mccain was in singapore recently. he alluded to that. that could happen. the risk lies in any attempt to he's made agreement

leadership not only in the asia-pacific but around the world. our allies couldn't help but question whether we had the wherewithal to make good on our commitments. as the singapore prime minister put it, if you are not prepared to deal, can we depend on you when it comes to security and military arrangements? the good news is, as i meet with congress, they are appreciating the benefits of the agreements to their constituents as well as the cost of not gratifying it. we already see our market share and priority products eroded by other countries that have preferential access. the peterson institute has estimated that a one-year delay in putting tpp in place would imposing $94 billion cost on the u.s. economy. don't get itwe done soon, the other asia-pacific countries aren't going to wait for us. as new zealand's prime minister put us, these economies aren't going to stand still. of china's tpps equivalent are well underway. doesn'trisingly, it raise labor and environmental standards, doesn't impose disciplines, doesn't require the free flow of da

leadership, not only in the asia-pacific region but around the world. our allies couldn't help but question whether we had the will to make good on our commitments. as singapore's prime minister put it, if you're not prepared to deal when it comes to cars and services and agriculture, can we depend on you when it comes to security and military arrangements? in fact, now more than ever, it's important we move ahead with the approval of tpp. earlier this week i was reading a piece on the opinion pages of the wall street jounl, and the author was describing his sentiment after participating in a discussion of the impact of brexit on europe. and he said the fate of the entire post war order hangs in the balance, with it the prospects for democracy worldwide. without vigorous american leadership, the prospects are not bright between the my grant crisis and internal challenges, there's a serious risk that europe will be preoccupied at least for some time. we cannot afford a self-inflicted wound to american leadership at the same time. the good news is that as

asia-pacific is down by 1% on both of those flows and markets. the concern about the nikkei. for.keeping its head, 1300 4. 1300 f manus, big news again and bond markets. manus: you got the -- more liquidity in the bund. 1.30 --german yields that is from one year out to 10 years. that is going to cause an issue for the ecb. could it be they are running out of balloons -- running out of bunds. no action from the central bank in japan. what will corrode at duke next? the boj does not -- what will kuroda do next? the boj does nothing. the head of sovereign rating says we have reached the lower point with where we are with negative rates from japan and possibly from europe. let's get out to haslinda. good day. haslinda: hey manus, the yen jumped for a 20 month high and japanese stocks extend losses after the bank of japan refrain from extending a monetary stimulus. this comes as the -- the unpopular negative rate policy ahead of elections next month. the outlook for global markets has given reason for paul's. --given reason for pause. that.ers can fol

this is the asia-pacific index, currently pretty flat.f you dig into it, performing around 6/10 of 1%. anding consumers industrials rise. as asiasia take rise, data taking 4.1% in may exports. but actually that seems to show some stabilization beard imports following, the least since 2014. so a bit of tentative buying of equities and asia. this is what is happening in oil. this is quite interesting. this is what i want to show you. this is the wti and purple. this is the brent crude showing the 90% ramp-up, after the lowest february. it is the opec amounts coming out of nigeria. we are in 1994 lows, you have demand ramping up. supply have largely coming out of the system. nigeria,994 lows for falling by 3.5 billion barrels last week. the appetite for u.s. debt, $20 billion worth of u.s. bonds being sold today. the term premium, this shows you the appetite for debt rising of the highest demand in 50 years. 10 yearthe index, treasury term premium. it is negative. showing a significant interest in buying tenure debt of the u.s. at the moment

asia pacific stocks losing their way after hitting a six-week high.w more than expected in the first quarter. still awaiting the latest news from china. signs of stability but also indications of well, vulnerability too. claiming victory, hillary clinton winning new jersey to secure the democrat nomination. she is the first woman to lead a major american party in a white house campaign. follow me on twitter. "trending business." straight to the markets. porter: of course we are awaiting key trade data due out of china. looking at the shanghai market ahead of that number coming through. coming through with quite a bit of loss after a fairly flat open. down .6%. a public holiday in china and hong kong tomorrow. china will also remain closed on friday. good movement coming through from petrochina. quitea

asia-pacific markets are in weight-and-c mode. he aussie weakens -- wait-and-see mode.kens. and hillary clinton set to make history.

i mentioned the msci asia-pacific. gold is also benefiting.re it into thinking everything is risk on. there is money going into gold. the pound is a little on the back foot, too. pound hasn the increased in the last hour or so. let's have a look at the bond yield for you. we have been touching record lows on the five-year yield in japan. bond yields continue to go lower in japan. is german bund yield unchanged and the u.s. 10-year, 1.46%. let's get the bloomberg first word news. to takerdinated attack down international airport has killed at least 36 people. the prime minister says the islamic state is likely responsible for the killing. the attacks, which ended about 150 people, went off in rapid succession at the airport. turkish airlines says the airport has reopened for flight. european leaders have told britain there is no turning back after the country voted to leave the bloc germany's angela merkel said. "this is not time for wishful thinking." david cameron used his last eu summit to express his disappointment with the referendum that

and let's check in on the markets in asia pacific this monday morning.f 1%aland, a third higher, a stronger kiwi as well, and the remain campaign is gaining momentum after that tragic assassination of jo cox. australia looking like this, pointing to a lower open. dollar at $.74, strengthening. japan, futures trading in chicago, gain on friday. it will extend gains today according to futures in chicago, yen weakening.e can i brexit will dominate markets this week, but india will have to deal with a looming departure. the r.b.i. governor says he will not take another term in september. is this a surprise? rexou have brexit and now it, double stress test for india. on themore pressure currency, the ruby ♪ powered by over 2400 journalists and 150 bureaus around the world, this is bloomberg news. his departure could be a question of lost credibility. the rupeee a look at in the last three years, he has strengthened it. in terms of stability, he has done so. in 2013, morgan stanley listed the currency as the fragile five along with indonesia and other currenci

need to increase communication and cooperation over the asia-pacific. e vast pacific should be a stage for inclusive cooperation, not an arena for competition. the tone of president xi jinping's speech will be welcomed by the u.s. and allies in the region. some close calls in may. chinese fighter jets came close to a u.s. surveillance plane. over the weekend, u.s. defense secretary ashton carter said that china risked erecting a great wall with the south china sea policies. they hope the focus will shift to some of the economic issues on the table. anna: that really underlines the u.s. priorities here, i suppose. we heard from jack lew about what china needs to do in terms of communicating economic policy. tom: we had a fascinating conversation with the u.s. treasury secretary yesterday, laying out u.s. priorities during this talks. mitigation is key. he said that back in august, he was on location, and he picked up his phone to his chinese counterpart asking what happened with the depreciation of the renminbi. that shows the closed as the relationship t

we focus on the rebalance of asia-pacific. last september of thethe us and china did agree that neither government would support or conduct cyber enabled theft of intellectual property. now that we are six months down the road would you say that china is living up to its agreement? and ii don't know how specific the agreement was, but it seemed like a good one for the two countries to enter into a dialogue and discussion. what is happening with regard to that agreement? >> if i could, neither nation would engage in that activity for the purpose of gaining economic advantage for the private sector. we continue to see chinese activity in this regard. thethe million dollar question, is that activity for governmental purposes or being been passed from the government to the private sector? from my mind the jury is still out. the activity level is somewhat lower than prior to september of 2015. >> is there any way that we can determine whether china is engaging in such activity? other any parameters? is there anything that we measur

they say they'll cooperate to ensure peace and stability in the asia pacific region. ic in a atanni and commander of the u.s. pacific fleet admiral smith met in tokyo. japan controls the aisles. china and taiwan claim them. the japanese government maintains the islands are an inherent part of japan's territory. nakatani expressed the responsibility of showing in the east china sea. >> japan will continue to operation and the u.s. pacific fleet, and admiral smith said the two --. the fourm minister of the association of southeast asian nations have expressed serious concerns to china over the situation in the south china sea. they apparently were refer to china's construction of islands in the area and facilities that appear to have a military purpose. hi noted the serious concerns expressed by the foreign ministers over the development on the ground. he reportedly underscored the importance of the peaceful resolution of territorial disputes and called for full respect for the right of freedom of navigation and overflight under international law. china has maintained t

and the asia-pacific region, make it possible for both countries to keep up communication.ooperate more and relate to challenges. dispute: the maritime has pushed relations between china and its neighbors to breaking point. speaking alongside the chinese president, the u.s. secretary of state john kerry called for a diplomatic solution to the crisis. john kerry: really position we have taken is, let's not resolve this by unilateral action. let's resolve this through rule of law, through diplomacy, through negotiation. reporter: the strategic and economic dialogue is one of the most important meetings between the two countries. both china and the u.s. also called for cooperation with things like climate change and finance. this could prove far more difficult to find common ground. on the south china sea. anchor: the french prime minister has announced emergency funding for flood victims. unusually heavy rain has wreaked havoc in paris and across the country. the seine has burst its banks for the first time in decades. the funds will be managed by the prefectures. by each dep

. >>> the positive momentum carried over to other markets in the asia pacific region. the shanghai composite added almost .7 of 1% hitting another three-week high. hong kong's hang seng gained 1.3%. all sectors ended higher with rebounds of companies closely related to the uk. let's look at taiwan. up by 1% to finish at 8,586. ahead of the meeting thursday, many analysts expect further cuts as economic growth faulters. >>> here's a look at some of the other business stories we're following.>>> here's a look at e other business stories we're following. donald trump says if he becomes president, he would withdraw the u.s. from the transpacific partnership pact. he stressed free trade. he said it would be a death blow to american manufacturing. >>> the japanese auto industry saw domestic production rise in may. the total for eight firms showed a 2.4% increase from the previous year. that's the first increase in two months. brisk sales of new models helped the upturn. suspended output of vehicles affected by the fuel economy manipulation scandal. >>> south koreans have tra

. >> asia pacific will overtake western europe in 2017 in terms of size to become the second largest region. >> reporter: women will play a growing role as well controlling one-third of the world's wealth. for night"nightly business i'm robert frank. >>> speaking of millions fors is out with its list of the top 100 earners in sports and two out of the top three is soccer. in third place is lebron james and the soccer player for bars lonna and he made $81 million. the highest is ranoldo. only two women made the top 100, serena williams and maria sharapova at number 88 who today was suspended for two years from women's tennis for admitting to using a banned substance. >>> that does it for us on "nightly business report." i'm sue herera. thanks for watching. this is the time of year that your public television station seeks your support. >>> i'm tyler mathisen. we thank you for your support. have a great evening everybody. we'll see you to through programs like this made available for everyone. through contributions to your pbs station from viewers like you, thank you. (bells tolling) (

. >> reporter: 3,000 students from 84 countries and regions are enrolled in asia pacific university.he quake jolted them into action. victoria from the u.s. ran out of her dorm room. she and some 500 other students headed for the first ward. the earthquake alarm echoed through the lobby, sending the crowd into high anxiety. >> it made people panic more sometimes, because when the alarm went off again, you have like 500 people in the lobby whose alarms are going off inside the building. that was really loud. everyone was standing up, and they were like, no, please sit down. >> reporter: the building was undamaged, but the university instructed students to evacuate for safety. they spent the night in a parking lot. a lack of information in english caused rumors to spread, that a bigger quake might be coming, and a tsunami, even though the japanese announcements said "no concern." >> they hear "nashi" and they get scared. >> reporter: this is woman is a member of a group which provides visitors to international visitors. she rushed to a gym where many travele esers are relocated. she vo

closed.rkets still third weekly gain on the asia-pacific story.erhaps around brexit and those conversations. dollar index at 94.2. that is out of sync with what the story of the week has been. wti down this morning by 0.8%. again, out of sync with the weekly picture. the trend has been one of a rising oil prices driven by u.s. stockpiles falling and outages in canada and nigeria. the story in paris is very much one of football. we are looking forward to that coming up later in the program. we will get analysis of the challenges for france as we head toward the start of the euro 2016 championships. they kick off today. just recap on what has been happening in the bond markets. i talked about the 10-year japanese move. we got a graphic on the cover bond markets. 10-year for u.s. example. let's get to yvonne:. she's got the bloomberg business flash for us. yvonne: thanks. barack obama has formally invoiced hillary -- endorsed hillary clinton. it comes after obama met with bernie sanders at the white house. president obama: i want those of you who hav

. >>> other markets in the asia-pacific region also tumbled. kospi and hang seng index both fell by 3%, as we see there. the reaction from chinese investors relatively subdued. some scooped up bargains. the shanghai composite dropping 1.3% to finish at 2,854. >>> britain's central bank says it is ready to provide more than 250 billion pounds or $350 billion of additional funds to support financial markets. >> we are well prepared for this. her ma jessty's treasury and the bank of england have engaged in much contingency planning and we've remained in close contact including through the night and this morning. to be clear, the bank of england will not hesitatee to take additional measureses, as requirired, as markets adjust a as the ukk economy moves forwar. >> the governor says it will take some time for the uk to establish new relationships with europe and the rest of the world. he says some market and economic volatility can be expected as this process unfolds. >>> for more insight on britain's decision i talked to the president and ceo of th

. >>> moving on to other markets in the asia-pacific region. in china the shanghai composite gaining by .3% to finish at 2842. some investors expected that the u.s. -- that u.s. index provider msci may add chinese shares to its emerging markets index. sydney had the lowest drop. dropping to 5,203. a fall in oil prices dragged down energy and resource-related shares. hong kong flipping by .6% and es cloed at the lowest in three weeks amid worries about the brexit vote. indonesia gaining by .3% snapping its four-day losing streak. >>> japanese finance minister taro aso says he is keeping an eye on how the british referendum on eu membership will affect financial markets. he says the government is ready to take action to prevent the yen from rising. aso spoke to reporters on tuesday after the yen rose to the upper range against the dollar, the highest level the japanese currency has hit in a month, 105. >> translator: speculative trading has been recently seen in currency markets, but, as you know, huge fluctuations are not desirable. market stabi

. >> other forces in the asia-pacific region rallied. hong kong climbed 1.7%. the biggest one-day gain in a month. companies related to britain such as hsbc ended higher. singapore added 1.4%. brexit pushed up commodity prices. the s&p 200 index gaining by 1.82%. finishing at the highest level in more than a week. in china the shanghai composite inched higher to close at 2888. property shares rose after data shows that prices of homes in second tier cities grew at a faster pace. here is a look at the other business stories we're following. >>> japanese shipments of home appliances in may were up 1.3% from a year earlier. rai rising for the 13th straight month. the humidifiers for the rainy season, al also sold well. japan limousine services and they provide with a tour guide that speaks their language. the minimum charge per day is $1,000. >>> india's central bank chief says he will step down in september. he mentions a surprise by the governor 'announcer. they give him high marks for reigning in inflation. and his departure affects economic growth in india and

. >> other markets in the asia-pacific region ended lower. hang seng fell by 1.2% finishing at 21,042. a report this george soros was concerned an capital flight from china weighed on sentiment. australia declining to 5,312. resource related shares led the decline. lower commodity prices caused two weeks of prices. seoul's kospi slid 0.3% and in singapore, declining .7%. shanghai closed for a holiday, resuming trading on monday. >> here is a look at some of the other business stories we're following. >>> japan's transport ministry is getting tough with automakers under fire for fuel economy falsification. the ministrtry says the surpris inspections will target firms as they measure the fuel consumption of their cars. any wrongdoing will result in naming and shaming of the manufacturer and models with manipulated data will be refused government certification. >>> the asian development bank approved a $100 million loan for highway in pakistan. t the adb called the approval a historic milestone. >>> bank of japan officials say the producer price

. >>> most other markets across the asia-pacific region ended in the negative on brexit fears, lower oil prices also took a toll. hong kong tumbling more than 2%. down by 2.1. closing at the lowest in more than three weeks. singapore declining by .8%. in china, the shanghai composite retreated .5% to close at 2,872. the drop ended two days of gains and came on sagging financial and energy shares. but resource-related companies rose after government officials said they would get a handle on over-production in the metal sector. a bright spot in the region was the philippines. it gained .8%. utility and banking shares climbed and led the gains. japanese governmenent officials are touting a plan to build a hydrogen f fuel plant in fukushima. it's part of their plan to turn the prefecture into a hub for clean energy. prime minister shinzo abe says the initiative can go a long way to helping fukushima recover from the 2011 disaster. public and private sector representatives have compiled an outline of proposals. officials say the fuel plant will be ready to go by 2020, and it will produce

. >>> officials from low-cost carriers based in the asia-pacific region meet in tokyo and talk about common challenges. topics include how to attract foreign travelers and entering the air cargo business. an official from all nippon airways says the firm expects sales of its subsidiary to triple in the next five years. >>> cool japan is coming to qualo lumpur. it will redesign its store in the malaysian capital showing the cutting-edge side of japanese culture. japanese products and designs will make up 90% of the merchandise. the store had highlight traditional craft products and anime goods. it's scheduled to open in october. >>> the scandal at mitsubishi motors has had wide-reaching effects. officials falsified data on four vehicles and mitsubishi spbd suspended production of them. now the parts manufacturers sales have plummeted. nhk world went to find out more. >> reporter: many of the small businesses that produce parts for mitsubishi are based in okayama prefecture, western japan. among them is this steel works. it has ten employees. the president has run the company for 50 ye

. >>> moving on to other markets in the asia-pacific. china's trade data had little impact on the shares in the country. the shanghai composite declined by .75% finishing at 2927. investors avoided taking positions before a four-day holiday weekend. sydney ended little changed at 5,369. the energy sector rose as crude oil climbed above $50 a barrel. major banks were sold on diminishing hopes for further interest rate cuts. seoul's kospi gaining by .8% to hit a seven-month high. bank of korea holds a policy meeting on thursday. indonesia declining by .36%. some investors took profits from a three-day rally. >>> here is a look at other business stories we're following. >>> japan's current account balance posted its 22nd straight month of surplus in april. it came in at nearly 1.9 trillion yen or $17.5 billion. income from overseas investments helped. automobile exports fell but it was offsight by a plunge in energy related imports amid lower crude oil prices. japanese workers are gloomy about the economy. the economy watchers survey shows

. >>> other markets in the asia-pacific region ended lower. indonesia slid 0.8%. sydney down by .15%. higher commodity prices failed to prop up the resource heavy index. shanghai and hong kong closed for holidays. kospi edging downwards by 0.1 at 2024. the bank of korea cut its key interest rate to a record low 1.25%, driving the index to a seven-month high but profit-taking pared the gains. shares in philippines dropping. shares sold off an the index reached its highest level in a year on wednesdaday. >>> here are some of the other business stories we're following. >>> honda motor announced a japan-wiwide recall of more tha 780,000 vehicles fitted with takata air bags. the firm says the recall applies to 14 models including the odyssey and fit. all produced between 200003 and 2009. inflators in the takata air bags in rare cases can explode and shoot out metalalc parts. automakers have recalalled 13 million cars with ththe air bag in japan alone. >>> chinese officicials say in y the producer pririce index was down 2.8% from a year before. a minor improvement from

other markets in the asia-pacific region ended like this. seoul's kospi gaining by .5%. hong kong's hang seng index gaining by .6%. >>> shareholders in electronics firm sharp will meet tomorrow. the chairman of taiwan's hon hai precision industry expressed confidence his takeover deal will put the japanese electronics maker back on track. >>> he spoke at hon hai head quarters in northern taiwan. the company agreed in april to invest $3.7 billion in the ailing sharp. go said sharp's advantage will benefit both firms and said all necessary procedures for the deal should be completed as early as by the end of june. he dismissed worries over sharp's financial statate sayin he'll swiftly improve business efficiency. he vowed to develop new product faster, shut down unprofitable overseas operations and put more weight on performance when rewarding employees. >>> in a look at other business stories we're following today. >>> gasoline prices at the pump in japan increased for 15 straight weeks on the back of higher crude oil pricices. as of monday the average retail price per li

. >>> moving on to other markets in the asia-pacific region. the shanghai gained 1.6% to 2,887. investors shrugged off msci's announcement that it would not add chinese stocks to its emerging markets index. meanwhile as the vote on brexit approaches, currency traders avoided taking risk which triggered yuan selling the dollar at more than five years against the chinese currency. in sydney, it extended losses to a fifth day falling to 5,147 and sank to a two-month low as banks and resource companies dragged down the benchmark. hong kong gaining by .4%, snapping a four-day losing streak. investors were relieved to see gains in shanghai as the worried msci's decision would weigh on mainland shares. singapore was up by .2%. >>> foreign visitors' numbers to japan have climbed faster than ever this year. they top 10 million by early june, that's about a month quicker than last year which ended with an annual record. tourism agency chief warns the stronger yen and global economic uncertainty make it tough to predict a total but he says staff are working toward a new annual target of 40

we're especially concerned here in the asia-pacific region. how will it impact our side of the story halfway around the globe from the u.k. with and both without a brexit? >> reporter: well, as i said, i think the risks are somewhat asymmetric at this point in time. the market will be particularly sensitive to an out vote materializing. and of course, very close to home, you are going to see a big risk off trade. you're going to see further appreciative pressure on the japanese yen, which is also already causing some problems, and, you know, more deflation repressure piled on the japanese economy. it's within a bigger picture where china is pursuing it's self-vaul self-evaluation. et cetera. my view is, if we do get a brexit vote tomorrow, it will be a big market shock but it will merely catalyze some fairly unsupportive dynamics which are already in place.e. >> worst-case scenario, and best-c-case scenario. please tell us. >> reporter: worst-case scenario we're all living in caves this time next year. for me, i thinknk there is more down-side