rishaad: coming up, first shanghai and now shenzhen.g and whoong better to discuss that thean the chief executive of hong kong exchanges. charles lee is coming up next. trending business returns right after this. ♪ ♪ takata shares are dropping after doubling the number of recalls in the u.s. -- 34 million cars in the largest recall in history. regulators say it might take years for all these vehicles to be made safe. 11 different automakers and a shortage of replacement parts as well. japan's economy leading analyst estimates by 2.4% on an annualized basis. corporate japan spending, the weekend helping to boost export and increased spending there. -- the reserve bank global trend toward easing having a substantial risk to sustainable growth. both industrialized and emerging assets are being pushed into competition. demand,ld with weak nations might get engaged on a risky contest. japan just finished out the morning session. that is see what is going on. david: we are watching shares in hong kong and shanghai. 8/10 of 1% coming after gol

stephen engle in shanghai. angie: we will have more later in the show, including stephen joining us live to show us the latest gadgets and discuss how china's appetite for innovation is changing the face of technology. coming up, mixed signals. what will the latest round of trade data tell us about japan's recovery? will speak to ubs after the break. ♪ angie: checking headlines around the world, malaysia's prime minister is shocked by the discovery of mass graves near the border of thailand which appear to contain hundreds of remains of muslims from denmark. -- myanmar. southeast asia is struggling with an exit of refugees. many are taking to wooden boats with thousands stranded at sea. in southerntorms and central china have broken a 40 year record for rainfall in may. authorities say 57 people have died since bad weather arrived last week, mainly from car crashes. to hundred 50,000 others have soft temporary shelter. inspections have been stepped up at reservoir. put some dams could collapse. forecast is for

company beginnese trading and shanghai.fer price, the airline will be granted $1 billion and will expect 68 million shares and wants to use some ipo money to use their -- to buy more aircraft. jordan and sally is the only challenger -- jordan's prints is the only challenger. u.s. jobs and housing data out later this week. reporter: the week ahead on wall street is a holiday shortened week due to the memorial holiday. stock exchanges and trading activity will be closed here. when the week begins in terms of trading, investors are likely to continue to be focused on earnings and economic data, especially now that janet yellen says on friday, that she expects to raise rates this year. though the pace of her increase will be gradual, she says. thatcaused some to say rates will be increased quickly. market direction is a big question. was a down day in terms of the stocks, in terms of weekly activity, it was the third straight week of gains for the s&p 500. where the snp rises from here is another big question. in terms of econo

us to travel to the same things hi cow international good new crews term that is new and port of shanghaias interested in our development of our james r. herman terminal and it went from nothing to 2 million passengers to they've built a new terminal and now need to double the sis with an extensive tour of the facility the chinese- china senior citizen tick was ground and has american people impact between and the u.s. west coast all and all a great meeting i'd like to have gym talk about the meetings particular the california china investment and talk about the meetings with ocean carriers. >> thank you porter and commissioner adams. >> yeah. as passport said we had good meeting about the port authority and have an opportunity to show we mean to make this a life-threatening and breathing relationship and document and also i'm always grufrd how much the port of shanghai despite they're the largest port in the world value the relationship with the port of san francisco despite the fact we're much smaller they value for example, our crews business and ideas perhaps how to help us with the p

shanghai composite up nearly 136% in the last year or so, given a massive boost by the hong kong-shanghaiell. we are seeing millionaires, billionaires being created almost week to week. the more rich people there are, the more demand there is for these cars. we are not talking luxury. we are talking super luxury. the kind of cars that only a handful of people have in the country. mclaren sold about 140 cars in china last year. leastre expecting to at double deliveries in china this year, especially when they start delivering their new models. angie: how much do these cars go for? 546lind: something like the coupe, at the more affordable range, over $350,000. angie: like a house somewhere. rosalind: in some places, yes. the cars go up to more than $600,000, $700,000, $800,000. some of them, maybe not mclaren, but other carmakers, allow you to customize their cars. for example, fitting diamonds into the inside of the car. that will increase the price of the car. angie: you do not want to snag your clothes on diamonds that you put in your car. carmakersluxury specifically targeting the chine

the shanghai dropping 6.5%. lot but of course you need the big one year chart to sell that story. i want to lift the lid on some of these indexes and get straight to the top moves with caroline hyde. caroline: kingfisher up 3%. big in the u.k. p.m. you know the big chain but also large exposure in france as well. the female chief taking the helm. people liking what she is doing at the company. of course this is all about home improvements. retailing. the u.k., it has been particularly good for them at the moment. better than expected sales. they have been closing stores. up 15% in terms of sales. it was better than had been expected. meanwhile france remains soft. down .2%. people lying the new strategy at kingfisher. a key performer on the stoxx 600. sports direct. up 3%. did you know they were getting into gyms? they have a new gym and they are saying this is going to be their focus. they invite their employees and partners. they all gather together. they are hosting that today and informing the market and som

the shanghai composite closing down 6.5%

shanghai comp is it index topped 1.8 percent this afternoon. it is currently down 1.5% just ahead of the close. investors are spooked by news it will tie up funds amidst midweek growth. the liquidity knockout for the descriptions will start next week. manus: -- jonathan: we talk so much about the index. when you talk about the shanghai index, just look at the last 3, 4, five months. what is the small cap in china right now? >> the chinese small-cap companies are trading near record highs after the government pledged to support developing industries. that was to shift away from manufacturing and property development. to put it in perspective, it's surged this year versus a 35% gain for the benchmark shanghai comp is it index. it even led the development of the etf the first exchange weighted trade in hong kong. also, the regulatory commission meets next week. we will wait to see about the risk of high valuations on the index. jonathan: i want to bring in bob parker. that attend i am a client of yours, and i said, i missed out on this big china r

shanghaie, bloomberg, -- stephen engle, bloomberg, shanghai.ve at the conference in hong kong, with where we will be joined by the founder of a global e-commerce .ompany ♪ anchor: checking stories around the world, china is defending its claim to the disputed islands. the 2015 military white papers says the pla must in large what it called its active defense seasegy, adding open protection to their current on shore operations. claims in the east china seas, it is the largest military buildup in decades. japan once to rewrite the constitution, forcing a wider role, and nato has begun one of its largest-ever air force exercises in scandinavia amid rising tensions with russia. and the arctic challenge features more than 100 planes and 4000 personnel. moscow has started its own wargames in response to the nato operation. hundreds of planes and ground-based defense systems are taking part in what they're calling tactical exercises, and in even larger drill is planned for later this year, and a reporter for the washington post has gone on trial in ir

in shanghai? have a seasonal pattern stronger this year with build coming off. if you compare where inventories are today compared to this time last year, it is similar. i wouldn't say it is especially high or low on the exchange. in the warehouses now, it is was a yearer than it ago. on a longer historic basis, go back a few years, again, i would say if anything, italy's high. is there anything you see as a decent buy when it comes to commodities complex? >> to be honest, it is difficult to find a strong bias these levels. we think nickel has been sold off to aggressively. we are not forecasting returns of -- at 13,000 or below, that is too low for most producers in china. they have been bringing production off-line. it should rebound from there. we are slightly short-term positive on oil. as well. we are going into the driving season. also, cooling season in the middle east, which is increasingly important from a seasonal perspective. rishaad: but it is summer. >> is starting to become an import

. >>> over in china, the shanghai composite jumped more than 3%. that's the biggest one-day gain in four months. many investors welcomed the government's economic reform plan approved on monday. it includes streamlined administrative procedures. >>> seoul's kospi added 0.3% led by samsung electronics company. shares rose after a u.s. appeals court ruled that samsung wouldn't have to pay part of the damages to apple spelled out in a 2012 patent lawsuit. >>> in other markets in the asia-pacific region hong kong ended up 0.4% following a rally in shanghai. financial shares supported the rise. sydney was down nearly 0.8% on lower commodity prices. >>> u.s. senators are now debating so-called fast-track legislation. it's aimed at giving president barack obama greater authority in negotiating the transpacific partnership free trade pact. lawmakers began deliberation on the trade promotion authority bill on monday. after passing a motion last week to proceed with the debate. majority republicans who support free trade want the is that the to take a vote o

the shanghai composite right now down about two thirds of a percent.of the day here, but shanghai dropping the most today. the number coming in at 48.9. the australian dollar as well, is extending its losses for the fourth day. this is on speculation rba will cut interest rates to a record 2%. it is about 78 u.s. cents right now. headed for its longest losing streak in a month. pretty much united we will possibly see a rate cut from governor glenn stevens tomorrow. let's talk about the movers of the day. australia, let's talk about that later. let's talk about china first. motors up about 10%. the chinese partner of volkswagen, some recalls. vehicles here00 it talking about faulty model.ion on the 408 according to the general administration quality supervision. but they did announce they want to introduce the tablet -- a new tablet. sincec falling the most 2011 as profits are missing estimates. csr, biggestr and movers of the day. we did see that overall the northbound southbound link most traded in the last couple of days. back to you. shery ahn: than

. >> also this hour in business, we'll be reporting from shanghai on the rise of china's startup scene and fears of a bubble in the technology sector there and as yet, another bank holiday for the french today, but some people have decided to work to help the elderly and the disabled. >> radical left wing parties have made significant gains in spain's local and regional elections. many voters punished the ruling conservative party angry over soaring unemployment, corruption scandals and cuts in public spending. >> celebrating dramatic gains in local elections, spain's newcomers the leftist group, it's a punishing blow to the country's ruling popular party and its main rival and been dubbed a magical night by pablo iglasius. >> the major party's have had one of the worst results in their history. today, we can confirm that the people of this nation have put an end to the two-party system in spain. this is the spring of change and it has come here to stay. >> and in the right wing party in valencia, the party lost its absolute majority, meaning it could be forced into opposition by left

whereas looking at maybe local governments in shanghai would you rather a yield from the shanghai local government bond or pay the germans to lend money? angie: that's a good segue to when we talk about grease and europe and all of those concerns that as you say is playing bond markets. mark, stick around, mark tinker there, a,x,a framlington. up next -- from mining to marijuana what zombie companies will go to to just stay alive. we will take a closer look when "asia edge" returns. angie: welcome back. you're watching "asia edge." some stories we are tracking for you today. uber is facing another bump in china after it was raided as part of a crackdown on taxi hailing services. uber is suspected of illegal business activities and operating without a license. china had ruled car hailing software should differentiate their services from taxis and public transport. australia's biggest power producer is going head to head with elon musk. a.g.l. will offer a battery to challenge tesla's latest model. prices have not been announced but a.g.l. said its cells will have extended warranties and

the shanghai composite extending yesterday's losses, down 1/10 of a percent. now in new zealand, stocks are down 2/10 of a percent. we have some data out of the government this morning showing that business pmi for april eased. trending flat right now, inc. rose yesterday. watch out for that. the nikkei is another big decline this morning, down 7/10 of a percent. it halted that four days of gains that we saw in the past week. that comes as we see a strengthening yen after those retail sales numbers out of the united states showing weaker than expected growth. the yen week u.s. data. right now, in the nikkei, the biggest decline is consumer services. back to you. >> big market mover here in hong kong. look at why these results are giving us the latest evidence of a revolution in mobile. >> responding positively. they surpassed analyst estimates by a healthy margin and the future looks bright. as the hong kong trade gets underway, shares look like this. up 2.5 5%, the best performance in two weeks. 10 sent powered ahead and then cent powering ahead in the mobile

the shanghai is down half a percent.es, fewer cities seeing a drop and the home prices. showing some of the property curbs released, eased, looking better for the property market in china. i want to talk about some of the china mover it's because it seems like they are not doing too well. telecom is down close to 4% right now. technology is up about 2.5%. a look at the china's telecoms. according to an agency, they are talking about a target of 30% cut in internet service fees. china mobile is down 2.4% right now. seeing a cut and data price of by 30% possibly. plus, even more than 2%. just started trading in australia. share price moving to the upside. $2.13, per they will20 be the world's largest producer of magagnese. biggesthe industry's deal in a decade. paul allen joins us. what is the atmosphere like? paul: a big day for south the dirt that south32. -- south32. they will breaking out champagne or slapping each other on the back i was suspect. there does stock trading at $2.2 0, a very wide range was given. it will

the shanghai hit a fresh seven year high. it dependedfter hbc's survey came in worse than many analysts expected. but it rallied on hopes the government will take further stimulus measures to support the economy. indonesia rose. analysts say jakarta's new monetary and fiscal policies are attracting foreign investors. hong kong extended its losses closing the day down 0.2%. seoul's kospi shed 0.8%. investors in sidney went bargain hunting after three days of falling price. it rose 0.9%. executives at mcdonald's japan are trying to turn around their business by revamping their menus. they announced a strategy plan for boosting sales following a series of food safety scandals. the president and ceo sara casanova announced a plan at a mcdonald's restaurant in tokyo. it will try to attract families and women by adding more vegetables. customers can choose a salad instead of fries to go with their meals. fewer people in japan have been eating at mcdonald's. sales have declined by double digits for ten straight months and following

i went over alone and someone said i have a friend in shanghai shanghai. she's a pharmaceutical executive m.i.a. meet her? so i'm having coffee at starbucks in shanghai and i'm talking to this pharmaceutical executive. i learned that she had hong kong passport and she gave it up for a chinese passport. she moved from hong kong to shanghai and became a chinese citizen. i thought everyone was trying to get over the fence to hong kong and i said why would you give up your hong kong passport for a chinese passport and she said what she said what do you mean? i said well in terms of freedom and she said you are right hong kong has all those rules that don't make any sense and it's so much more freakier to do business. truly a pleasure doing business in china rather than all the constraints of hong kong. i have a friend who brought one of the top politburo members one of the top communist leaders of china to one of america's biggest newspapers either in washington and new york. i'm not going to tell you but they have met with the editorial board. here is the top

this high end residential district is in central shanghai.r who lives here has been testing products herself in the hope of protecting children. qiu lost trust in china-made goods after a notorious case in which baby milk was found to contain melamine six years ago. her first goal was to find reliable product information. but she soon realized that there are no private organizations to protect consumers. she and her husband decided to take action themselves. qiu launched a website in october 2013 to share the information she had obtained over the past three years. she uploads the results of the testing her team has conducted on various products. so far, they've tested 3,000 items in 49 categories. initially, they paid out of picture to buy and test products, but as their website gained recognizes, she began testing specific items for citizens. in order to continue their activities, they had to become a company and start charging for membership. [ speaking foreign language ] >> two years ago, qiu's company joined uk-based international consume

we sthaw lying by shanghai up about 2% right now. and about .7%. we got that coming out of china last week. so it is fueling speculation the government going to snep to do some escalated measures to stimulate the economy. last week 8% growth in the shanghai composite. those gains up to 10%. let's do a little bit of a microscope here. we saw in the u.s. on friday there they're ending things in the red despite that we saw those record highs on thursday. the shanghai composite year to date surging. and we have see the any kay 22 as well. it has been seven straight days of gains. year to day about 17%. 20,407. that's the 15-year high. back to you guys. rishaad: surging exports to the u.s., a trade deficit and the news providing some evidence that the economy is continuing to recover after last year's recession. willie, on the economy is there any real grounds for optimism? >> well, yes. happy birthday buda from japan. this is some of the best news we've had in a few months. you know, there are caveats gallonor. -- galor. the u.s. is recovering certainl

still ahead, skyhigh in shanghai.hinese budget airline debut.on its trading on its trading debut. ♪ mark: i'm back to the bloomberg market day. i'm mark did. let's get to a check of the markets. julie: just as yesterday we had the biggest decline yet, we are having a commensurate gain today. if you take a look at the dow and s&p and the nasdaq -- yesterday, even though we were foring, still only about 2% the major averages off their all-time highs. we are working back up there again. you can see the nasdaq is the -- just as we had a broad-based selloff yesterday, the gains are fairly broad-based today as well. the --lustrates all there is a lot of green. the only area in red is energy. very slightly down. -- just discretionary as with all reflected with the nasdaq being the best performer, information technology as a group of 1.4%. the best-performing group in the s&p 500. if you look at the movers, some of the chipmakers are doing particularly well. sandisk, micron and broad, all trading higher. the stock is down abo

the shanghai composite pushing higher overnight, up 3% as i speak. shanking is up. -- saint king is up -- hang seng uis up. carrying into monday markets. the european equities let's switch up. the ftse 100 even with a rate cut from china, there we go. lower down by 10 points. cac 40 down by almost 1%. airbus is the big loser. we will bring you more on the crash of the weekend. shanghai on your screen. switch of asset classes and a check on fx. euro-dollar down by 0.1%. sterling with a 1.5420. the gains for the election for the labour party. hanging onto the gains. yields unchanged. it was vicious for german bonds last week. let me check for you. i'm looking at the german on my terminal right now. german 10 year. up by not even a basis points. 65 bucks a barrel on brent. coming up we will deal with greece after the break. gridlocked. meeting the eurogroup. greece versus everybody. the bank of england the size of more on the monetary landscape as cameron secures another term. what does it mean for rates? later, toshiba tanks. possible improper accounti

for shanghai 30s further down south.as we take a look at the forecast for north america we have been talking about these persistent storms in the central portions of the united states but we also saw some stormy activity over into the northeastern portions of the united states. check this picture out on thursday coming out of massachusetts where these strong storms caused trees to split apart here and land on various houses in the process and this is not something that we want to see but because of the very unstable weather those pictures are a reality and in fact on top of that flash flooding continues to be a concern along with some strong thunderstorms in the central portions of the united states. we're looking at the possibility of seeing more flash flooding as we go throughout the day. we do have a tropical system over the eastern pacific and keep an eye on that as we progress through the weekend. back towards the central portion of the u.s. looking out for some flash flooding possibilities and a risk for some sever

it is setting sail to its new home port of shanghai. big advantage of expanding in china, not having to deal with the stodgy, old images of a typical cruiser. in china, the cruise liners can start with a clean slate. richard: this whole concept is new and exciting. there is no old-fashioned myths about cruising. there is none of this cruising is for old people. if you are a family traveler, you can enjoy it together. how many vacations can you have where a 70-year-old and a 20-year-old can go together and both rave about it? so, we have that, and it is extraordinary. there are not many places you can do that. china, the family bond is stronger than in the western world. so, the ability to offer multi traveling in china is even more viable. betty: carnival ceo arnold donald has no intention of being left in royal caribbean's wake when it comes to china. he says it is a market that they are ready have both feet in since 2006. arnold: we sail to over 700 ports in the world every year. we source from everywhere. we have four ships home port

liz: you know, that's the shanghai composite. it's done beautifully. told you so right on this show. hope you listened. aside from the fxi, you're picking crane shares. paper and global gold explorers down 30%. the miners have been down 90% since the peak. you see a turnaround? i've heard this year after year, oh, they're coming back. >> the crane shares idea, that one is about china's currency becoming a world reserve currency. this june, the imf meets to decide whether or not china will get status as a reserve currency. no one owns chinese currency. i'm sure you don't. i'm sure most institutions don't. the crane shares idea is a way to get our money there first with a 3% dividend. the second idea is the gold explorers. yes, they're down 90% from their peak in 2011. and in a world where everything is up, here is an opportunity that is cheap, hated, in the start of an uptrend. nobody is paying attention. commodities are just starting to poke their heads in up trends. this is the most bummed out of them all. i think you can make great money in them. liz

four ships home ported in shanghai.carnival currently carries chinese passengers to countries like japan and south korea. last year, donald put his chief operating officer, alan buckelew, in shanghai and signed a deal to develop the cruise industry with a local operator, china merchants group. arnold: there is a lot of work to be done in china. we have to have ports developed so the chinese guests have destinations to go to. but the reality is that it a good market already today. we have four ships there. three on our castle line, one on our princess line. both brands are profitable. the chinese government has declared through their five-year economic plan their intention to develop the cruise industry. so that means a lot of things will happen relatively quickly. we want to be there to help make it happen in a way that we think will help the chinese government establish the cruise industry they want, that will be sustainable for years to come. betty: so how often are you there now? arnold: i have been on the job a year

it was that about 3% earlier but now it is at about 2.4% in the shanghai composite. the hang seng is just fractionally lower. close to 10% in the last two days. the most in six years. similar nine, we saw losses and two days of trading. we are showing a magnifying glass to climate shares. what is going on in the debt problem in china. it exceeded $322 billion in margin debt as of wednesday for the past year. up five times the level that we have seen from last year. according to bloomberg calculations. securities are saying this negative reaction is really on the margin trading curve. it is not a reflection of long-term factors. more than one in five companies on the shanghai composite word down by 10% -- were down by 10%. seen some gains. they are up fractionally. we are heading towards the 11th straight day of gains. boosting equities. in the last week or so. take a look at the dollar-yen right now. it is dropping to the 12 year low yesterday. up -- the economic minister is saying that the yen is not getting to certain levels. look at thee a diving here. the company

potentially in hong kong, shine -- shanghai, or milan. an billionaire led an investment group that bought into milan -- internal on. also the former prime minister of thailand owned manchester city. angie: good stuff. thank you. coming up, we will turn our attention to europe with the uncertainty around greece. .first up," back in two ♪ angie: checking headlines around the world. the number of people known to have been killed in the earthquake in nepal has risen to 7250. at least double that number were expected toh totals rise as remote communities are being reached. more eight and a is being flown in, although there only international airport has been set. that men do was build to handle only medium-sized aircraft and heavy air freighters carrying aid damaged the runway. the italian coast guard says nearly 4000 migrants were viewed in the mediterranean on sunday as good weather persuaded more people to attempt crossing. leicester 170,000 people were picked up. 280% increase on 2013. last month 800 people drowned when the boat capsized o

. -- when shang howard the shanghai tower opens later this year, it will be the second tallest livingthe world but will have the tallest observation deck. tickets are not cheap. the upper observatory at the burj klifa costs $106. a top, there are lounges and boutiques. there is a bar, a cafe and a steakhouse. the observatory's operator expects to earn $875 million for the owning partnership over the next 15 years. this will be the third big observation deck in new york. the other two are top of the rock and the empire state building. 7 million tourists visit every years, it'snext few estimated that number could grow to 9 million. one world observatory expect to see 4 million of those visitors every year. even though i've lived in new york for all my life, i've never been to the top of the former world trade center or empire state building. mark: it was spectacular, a beautiful view. scarlet: can you feel its way? mark: i did not. scarlet: i was in someone's office and its weight a little bit. -- it swayed a little bit. ♪ scarlet: welcome back to the bloomberg market day. let's get str

about 150 firms and organizations worldwide and a travel fair in shanghai. officials promoted hundreds of tourism sights to travel companies and tourists. local government officials and staff took part. many were there to advertise lesser known spots in addition to bigger city destinations like tokyo and osaka. >> competition to attract chinese tourists is heating up around the world. japan hopes to win their share by promoting bunt tourism resources and topnotch customer service. >> last year the number of people from mainland china that travelled overseas topped 100 million for the first time. it was up more than 80% from the previous year. >>> some investors are reacting nervously to comments by janet yellin who said she thinks stock valuations are high. tokyo shares dropped down 1.23%. the stronger yen also weighed on exporters. they say they're caution ahead of the u.s. jobs data due out on friday. in shanghai they ended at the lowest point in weeks. the index tumbled nearly 2.8% to 4112. they are worried that they will reign in high levels of margin fi

the shanghai took the tumble yesterday. >> yes. the chinese equities ending much like they began dropping off about 4%. it was a mixed week. the shanghai composite plummets 6 %. the equities took heavy investment in the last week. i want to get to one story with legs even here overseas. that's the fact that the chairman of wall greens the u.s.'s largest pharmaceutical company has said that president obama made the company his whipping boy and he essentially said this after president obama accused them of trying to game the system. that's by moving their head quarters overseas. there was a major merger between wall greenes and alliance. they were talking about moving. that was smacked down by the press and the white house h. he said they were taking the opportunity to select the company and even think about inverting and using them as a whipping boy relative to the further their agenda. they say the company is going to stay in the united states but he's not very happy with the white house. >> yeah. they made a big pr push for that.

i look to shanghai, the shanghai composite it is lower. the yield in spain and italy a touch higher. let's go to the market open with caroline hyde. caroline: that from holiday you are looking at japan, south korea, and thailand all continue to be closed. asia trading lower. following suit in asia. ftse is up 0.8%. we saw equity markets yesterday the ftse 100 playing a bit of catch-up or your friends is coming off the high yesterday. 0.2%. greece is in the forefront of everybody's mind for it it seems it will make the 200 million payment and then what? in terms of the agreement and labor laws and pensions will they actually have to default or exit? we had george magnus saying this time next year he feels greece will be potentially moving toward the exit of europe . we are going to get a short do over at kicking the can down the road. italy up by 0.4% today. we had market action over in australia. target's reaction to the central bank cut once again a record low rate for australia. it seems a slowdown in china continued to hurt in terms of

the shanghai composite index rebounded. over the week the benchmark shed 5.3% it's biggest weekly loss in five years. investors fear regulators may tighten control on margin trading. hong kong finally snapped a six day losing streak. the hang sang index ended at 27,577. speculation on the launch of a stock trading link with shenzhen support market sentiment. i want post ad 2% weekly loss. sidney failed to rebound from its three month low. the s&p/asx 200 index end ad touch lower at 5634. the index shed about 3% on the week. in other markets in asia-pacific region, seoul was down 2.6%. philippines composite ended down by almost .7 of 1%. indonesia was up by .6 of a percent. >>> consoles and software are selling better overseas for nintendo. the company has announced its first profit in four years. nintendo officials say the firm posted an operating profit of about $206 million for the business year that ended in march. they say the weaker japanese currency helped boost profits on the sale of the home video console and game s

last year this university near shanghai began offering a new course. it teaches students how to go about setting up their own companies. students don't have to write graduation papers. instead they must develop a business plan and try to raise about $25,000 from investors. >> translator: it's useless just to study theories. we invite business owners to teach this course. they guide students individually and help them to start their own businesses. >> reporter: the school has also set up an incubator center where aspiring entrepreneurs can keep their offices free of charge. this man started an aerial photography business last year. he flies a drone to take pictures of tourists and historic spots. he says he earns about $8,000 in a good month. he used to belong to a club where members built model planes. he knew the demand for this type of service was growing. >> translator: the job market is tough and i would have to compete with many other students if i wanted to find work in my field. but i can do what i want to do if i start my own business. that's a

the project is a 700 kilometer link between the capital of bangkok and shanghai. most trains in thailand run on single tracks and are not electrified. but with economic growth a rising priority the country needs fast trains to move large numbers of passengers. japanese officials plan to conduct on site inspections for the railroad starting next month. >>> now officials at bank's agriculture all ministry decided to import a record amount of butter. the additional order of 10,000 tons will be the country's single biggest butter import. the move comes as an organization of dairy product makers predicts a butter shortage of 7100 tons. butter imports are centrally controlled in order to maintain a stable supply. the shortage is due to a plunge in milk production and decrease in the number of dairy farmers. dairy in japan sell milk for drinking or processing into whipped cream rather than butter. japan suffered a serious butter shortage ahead of the christmas season last year. >>> that's all for business news for this hour. i'll leave with you a look at the region's mar

prices in shanghai rose 7.1% after being flat in march. the lack luster housing market is behind china's economic slow down. excess inventories led to this. beijing officials have been trying to reverse the fall in investment with finance and tax incentives. economists say those incentives are starting to work in the big cities but they warn that prices are continuing to fall elsewhere. >>> managers at japanese companies are ordering more equipment, machinery orders in march made a turn around for the first time in two months. officials at the cabinet office say companies in japan ordered machinery worth $7.3 billion. that's up 2.9% in yen terms from february. the figure does not cover the shipping and electric industries where numbers tend to fluctuate. orders from manufacturers rose 0.3% marking the first uptake in three months. this was led by demand for boilers and turbines from paper and pulp makers. nonmarvers shot up 4.7%. wholesalers and retailers placed more orders for computers and other electronic equipment. cabinet office is ma

future. >> thanks jim after the month to month living breathing with the filipinos and the port of shanghai we got communication from the port of shapg hi bringing a delegation of their folks to locate the waterfront and marina developed they're taking this relationship seriously and it is about relationships and this last thing the meeting with bob i think we all were invirthd and had new ideas he is a faivent defy so that's a quick vision of trip and commissioner adams thank you for lending our support to go to month to month having a commissioner there leans a lot so thank you. >> thank you peefrt and gym one of the things we've learned going to quencher is okay. but you've got to get down to the nitty-gritty that's building relationship you can't go to within once a year but build when you have a name the port of oakland how do you market our name people want to do business in san francisco we kind of lender how to do a better job of martha san francisco our port there's love opportunity tint i notified jim and bob is going to come to a meeting and former wells fargo dbi bob worked the