christie's is introducing a and david inglis is at the sale for us. what have you got for us? am the handbag expert will stop we are at the convention center and it is a big area will stop you can see that this is one of the busier areas with the handbags on display. about 120 of them go for auction a price and we have $1000 and $60,000. are lowerhe pieces than the new one. what stands out is how rare they are and you can only buy them where they bought the new segment -- brought the new segment. there is an avenue with the secondary market and you can look forward to this. there are a few pieces inside and it is crowded. it is like a walk-in closet from heaven. >> let me tell you that is apt will stop the big sale is in its third day. talk about the level of interest. is it chinese buyers? >> it is. he said that you look at the total auctions this year and 30% and the growth rate, despite a lot of what we talked about with the anticorruption campaigns is 40%. of check out the other gross segments. listen. ande have a lot of activity mostly these countries have been very activ

david inglis, thank you. , looking at the market reaction. there was a market reaction. the yen is crucial. a lot of change in forecast. morgan, chase. >> i don't think coleman has actually changed their forecast, 115 for the yen next year seems conservative at this point. not surprising. where are we now? 112.77. he see the big bump up. a seven-year low at this point in time. just to recap what jon mentioned, jpmorgan and mizuho seeing 117 by year-end. unicredit is also coming out with 140, 141. they are thinking it is 160. 160 by the end of next year. words, the currency would be weakened by ecb action, and the yen will, weaker. -- movers, bold getting hammered once again. 11.65. all of the mining stocks in australia are also getting hammered. 16, $16 an ounce. hard to imagine a few months back we were north of $20 for this. you are seeing pronounced movement in the equity markets. h, let's wait for this to get underway. six markets are open. japan is closed today for culture day. just really aussie being dragged down by the minors. new zealand is hitting a record. sou

here is david inglis. pickup in housing and business confidence led to record earnings for a fifth straight year. falling charges helping things along. westpac reported a full-year cash profit of more than 7.6 billion aussie dollars. over to japan now. more airbagecalled inflator's. u.s. regulators said more than 30,000 were made with a part which can lead to potentially fatal ruptures. the effected cars were made by nissan and general motors. sony has reported a quarterly loss seven times bigger than a year ago, as it loses ground in its smartphone business to apple and chinese manufacturers. billionss of 1.2 dollars after losses in its smartphone unit. it is cutting sales forecasts because of poor performance in china. >> i understand china is a big smartphone market, and there are huge opportunities. but our priority is to turn around our overall business at this moment. we will definitely consider expanding in china in all segments in the future. >> that is your company news this hour. oil prices have

david inglis has spent the morning on the trading floor.hat is the atmosphere like and what end of impact do you expect from this stock connect now? >> it is quite a different picture right now. the mood as well. the sure you have seen initial jubilation has flatlined. in, we arew minutes towards the negative. we have erased early gains. shares on the hong kong exchanges, the boorse operator was originally up and we are down since last i checked. it seems to be a case of a fairly negative news flow. dataows in china, negative coming from japan. analystsg said, pointing out that this was priced in. just an update here. we are approaching mid way. just to give you an idea of the interest we have seen so far, mainly northbound that flows, money going into shanghai. remaining out of $13 billion. activity coming here to hong kong from shanghai. if i am being honest, it is a snooze fest, to say the least. we are talking about a daily limit of 10 billion yuan. so far, it is just one billion yuan. again, it is the first few hours, so let's give thi

the usual paintings and antiques, christie's is introducing classic handprints -- handbags and david inglis the sale. what have you got? >> yeah, it is advantage. vintage handbags. the first time here and hong kong. among other things. you have art, antiques, wine, jewelry. theg reason we are here is first time will see a lot of the vintage handbags go under the hammer. handbags willage be auctioned off later this afternoon. an indication of what kind of market we are talking about. the market has existed for some time. as far as the example is concerned, christie's is trustworthy avenue by which these transactions can take place. and addresses concerns about fraud. to give an indication of how big this market is, we have a list of companies. we will look, so forward to this. the auction takes place later in the afternoon. >> ok, in terms of what is on sale, what are we talking about in terms of cash? yeah. anyone miss dream walk -- anyone 's deram walking close it. it is one of the items expected to garner fairly expensive price. we are talking about 58,000 u.s. dollars. birkindile burden

thed in places watching action from the credit suisse david inglis is watching the action from the creditng floor. >> we are about one hour and 20 minutes until that open in hong kong. what we do know is both exchanges conducted their final tests that were successful. the hong kong exchange basically said, we are ready to launch. today will mark the start of this unprecedented access to the mainland chinese market. if you have hong kong brokerage account, you can actually justify shares up in shanghai. of course, we start with shanghai. i want to talk about the daily limit. cross-borderof net purchases. to put that into context, we have a daily limit and an annual total. if we use up the daily limit each and every day over the next 23 days, then we reach that overall quota. we did a survey from bloomberg, and it does seem 81% of the brokers we talked to think we will be using up the daily limit for today. it is buzzing right behind me. his slider earlier on. we are about one hour and 20 minutes from the open. i expect the roar to simply get louder. >> anticipating -- anticipation is buzzi

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