china construction bank is the latest to report zero profits.hat seems to be the common theme. >> yeah, the new normal. was unchanged from a year ago in the latest quarter. that mirrors what other big lenders reported as well. littles profit that was .hanged as well the combined earnings of china's five largest banks are projected to rise just 2% this year. that is the least in more than a decade. second quarter was near zero. they are not even on pace for that. ccb's nonperforming loans jumping 28% in the first half from a year ago. net interest margin slipped as well. it is a similar story for the other banks. we saw more loans goes sour in the first half. jumped 31%.bc offering less for savers deposits after the pboc cut rates last week. many banks are offering smaller time deposits. that indicates lending might be dwindling in this slowing economy. why pay more for deposits when the loan risks are shrinking? rishaad: we will have a more detailed look at that story later. in about an hour. we do want your opinions. let's have a look at some o

trish i work for a company, morgan stanley, that set up a joint venture with a china construction bank and we built the largest and first investment bank in china. but they steal our intellectual property? who knows what they did? but they set up a bank along the lines of the structure of what morgan stanley did. they utilized our products, our human capital, our systems and we paid a small amount for the joint venture. we sold it for a huge premium. that is the way the world works, trish. not worst thing in the world. trish: people so desperate in the market we're willing to put up with just about a anything? >> so our desperation we have to address then. not necessarily the way they go about conducting business. trish: steve, before i let you go, do you think selloff will continue given your concerns about china? >> no. i think the chinese fears are overblown and when investors come to the realization that china is making more progress than, on the road to restructuring and rebalancing, they will begin to dismiss the china crash scenario that has such credence today. to the extent th

we heard from china construction bank, other lenders as well. d story you have zero profit growth for all of the big banks and a significant rise in on for loans. loans.nonperforming , 64.9 billion ccb yuan. basically unchanged from the same quarter last year. below estimates as well. combined earnings for the big five banks is expected to have very lowest profit growth since 2004. icbc up 31% in the first half as profit growth was basically 0% in the second half. stop prices ever reflected this kind of poor performance. their net interest margins have been shaved. nonperforming loans have been increasing extensively. we can see their outstanding percentage of loans that are souring renowned. and the -- right now. and the increase. outstanding lending, still above 4%. which has a lot of these rural customers, 1.8 per three -- 1.83%. angie: souring loans souring even more. china's markets will open today with a tailwind from last week's interest rate cut in beijing's decision to prop up stocks. it comes after a military showcase parade on thursday

china, bank of communications -- i correct myself. the fact that bank of china, its latest results not coming in as expected. the chinese construction bank earning zero-- profits in the latest quarter. it is driving the wider markets lower. economic data, you hinted on the lead in -- i can tell you japan, south korea and the industrial production numbers are not suiting investors. worse than expected. we will continue to follow all of these numbers and the impact that china will have on this market. tomorrow we get manufacturing numbers from china. guy: looking forward to seeing that data. let's go to beijing. expanding --s extending their decline. ports cominghe through and feeding into the market. government throwing a lot of support at the economy, is the fear that that will start to fade? guest: i think that is right. there has been an extraordinary amount of support thrown at the market. starting with a cut in interest rates, the reserve requirement ratio, what looks like more state-sponsored buying. at the end of last week, china's finance minister announcing that the local government bailout -- that scheme helped shift some o

bank,inese construction one of the banks that has been focused on, 0% profit growth. the bank of chama with a one -- chinaith a 1% profit growth. these are the hong kong listed shares. shares down just about 1%. we have seen positive notes with the chinese banks, some of them actually doing quite well, communications has been rising today but overall these concerns about the financial sector in china continuing to play through the markets. a lot of dislocation in this part of the market today. on the: let's check stories making headlines around the world now with as many as 120,000 people gathered in tokyo to protest against the plan to expand the power of the military. to alter of the pacifist constitution and a lot of japanese forces to operate abroad have passed the lower house. critics say that it will lead to japan becoming involved in foreign wars. toldyanmar opposition voters to ignore intimidation ahead of the election. is speakingureate in what she called a voter education exercise. the parliament has wound up the final session ahead of the vote. they are expected to make a gain but a quarter of

china railway signals and construction update fraction at the start of it debut. singapore prepares to celebrate its 50th anniversary, moving to the upside. writers havetock obtained the shattered bankingm. rishaad: china railway signal rising slightly on its trading debut in hong kong. the first ipo since the stock brad began in china two months ago. billion.ny raising 1.4 use most of the acquisitions -- most of the money on acquisitions at home and abroad. htc down percent -- down 10% on profit warning. htc as a seven. presidential hopeful donald trump hoping today's republican debate -- opening his republican debate as repeating that mexico is sending their criminals into our country -- into america. he takes the stage along with the other top 10 gop candidates in this first debate. we are 15 months away from the election. debute making a positive debut. making a positive how are we doing now with that? we are only slightly higher currently, trading at $6.32. we have seen china railway $6.38.hit a high of we have not seen a drop below that ipo price. a lot of buying interest in this stock. it is the first ipo we have seen since the start market routes that hit mainland china. online