you're from shanghai? >> yeah.ast in modern times, it's hard to imagine that any place has changed as profoundly and is changing as quickly as it is changing here. >> we really feel proud. we really feel proud. our qualities of life is improving really, really fast. >> in a poll, 85% of chinese who were asked the question, do you feel that your life will be better next year, 85% said yes. it will be better next year. that's an extraordinary -- >> number. >> -- number. i don't know a lot of other countries that would say that. >> yeah. >> that looks great. famous chicken. >> chicken. >> mm. so good. >> not bad. >> you know, i'm finding this food really, really delicious. you're saying it's just so-so? >> it's okay. so-so. >> wow. at&t and directv are now one. which means you can watch movies while you're on the move. sitcoms, while you sit on those. and even fargo, in fargo! binge, while you lose weight! and enjoy a good cliffhanger while you hang from a... why am i yelling? the revolution will not only be televised

--n angle from shanghai stephen engle from shanghai.st 30 years, there has not been no be a group boomtown then shanghai. a 2073 foot tall shanghai tower punctuates the point. the world second tallest building, a spiraling feat of engineering that supposedly is impervious to earthquakes and typhoons. but as -- it is the economic headwinds that may be a bigger threat. it will open just as china's economy shows signs of buckling. the man who called the tower is check and child -- second child explains how he views growing pains. >> usually the construction of a huge building happens when the economy is growing. construction takes time. -- end upave completing when the economy goes down. the opposite is happening here. we started when the economy was bad. it is completed when things are getting better. reporter: relatively speaking. but he and the u.s. architectural firm gensler and vision it being more forward leaning. >> they want us to give them a vision of the future. it has wind turbines for energy efficiency. it captures and recycles

shanghai coming back on my. rising more 1% reversing those losses we saw all of last week. we also heard from chinese authorities saying they have revised their 2014 gdb growth to 7.3%. .rom 7.4% giving speculation that authorities will do more to ease the economy. we also have some indicators of how much china has spent to shore up local markets and the yuan. china is giving an update on its foreign currency reserve. the hang seng is rising on the 3/10 of 1%. a shares also rising after falling to its two-year low on friday. the is interesting now is nikkei has reversed earlier losses. -- koespi it suggests the index will see further declines. declines in australia has been led by fuel losses. u.s. trading under seven cents. nikkei rising by half a percent. i also want to take you through some of those chinese text that we are watching closely. the automaker is rising today after it announced that it will be asked for 10,000 of their vehicles. we also have the stock taking a hit today. the macau vip market may n

we are now down over 1% in shanghai.mobius, a man who knows a little bit about the emerging markets has some advice for the authorities in china. theys advice is that should let the stock market fall. he is not alone in this opinion. the story talks about other saying that this effort is futile and the government should let the stock market fall. they are saying 15% is where it should decline from these levels. guy: should they stabilize at that point? or get out of the way completely? >> no one is bigger than the market. even though the chinese market -- chinese government is pretty big. everett historically would tell you probably not. guy: are the markets right? >> where the markets are going to bottom is where you have buyers come back in. they will only come back in when they believe there is confidence -- when they have confidence in the value. in theu have distortions government being an active buyer and not knowing at any moment they may pull away, you're not going to instill confidence in the broader markets. th

tall shanghai tower has that point.ling feat of engineering that is supposedly impervious to earthquakes and typhoons, but it is economic headwind that may be the bigger threat. it broke months into the global financial crisis in 2008 and will open just as china's economy shows signs of buckling. the man who calls the tower his second child explains how he views the growing pains. >> usually, the construction of such a huge building happens when the economy is growing. someruction takes time and may end up completing when the economy goes down again. the exact opposite is happening here. we started construction when the economy is bad so it has completed now when things are getting better. stephen: relatively speaking, but the u.s. architectural firm envisions the multibillion-dollar building being more forward leaning. >> they want us to give us a vision of the future. stephen: did has transparent skin and wind turbines. it captures and recycles rainwater and has multiple sky gardens for public meeting places. neighbor

shanghai is beginning to fade.nna: just as a look that the markets woodhead towards positive territory, they tended to do that. guy: there has been speculation that maybe some involvement by authorities in forcing that. anna: we are heading to parades marking the end of world war ii, and that has led that speculation. just as things are positive, we see the shanghai composite down. things are a little choppy again. decided to alter its iconic logo. why is doing this, let's find out. caroline hyde is here with more. give us a history, why they're doing this. caroline: this is the biggest change since 1999, when it cleaned up the logo. the 14 colors. sayingt that is actually is the color of the same. but what is changing is the font, it is sands serif. to keep the font size simpler, they can be there for scaled-down to smaller sizes. bandwidther connection. it can save and fit on your smart watch, mobile device, they're changing to adapt. not only as a search engine, but all of the progress. bye-bye the little icon,

i taught history last year at a university of finance and economics and i made trips to shanghai. later, i spent some time in hong kong. were overseas schools and set up for people of chinese ancestry outside of china to study in china. i have been looking through consular numbers of kidnapped and in trouble. i have more research. >> based on the research and the time spent in china, we sat down with jon huntsman, a u.s. envoy to china, to ask him how he would assess the relationship with china. he says, "complex and vitally important." >> im a historian of an earlier time. -- i am a historian of an earlier period. there are people in china who want to simplify and make it very black-and-white. what is funny about what he says is that it has been a case for a long time. what i am looking at in my research is a wartime era and before. the united states had a complex relationship with china back then. my paper is called loyalty and ambivalence. there is a relationship between iiite states in china in ww that was very murky. we were allies and there was a lot of trust -- mistrust. at

the rally followed shanghai and wall street. gene otani joins us with more. gene? >> thanks, james. the nikkei benchmark logged a historical one-day gain as global markets trended up. the index rose by more than 1300 points. that's the biggest increase in more than 21 years. for details we go to our business reporter aiko nanao. >> this came as share movements in shanghai suggested the chinese government was trying to stabilize stock prices. here in tokyo it was all about bargain hunting. the nikkei had the biggest one-day gain since january 1994. it rose 7.7% closing at 18,770. the index reached its highest

the shanghai sales substantially 2.7%.red arrows for the knee came across the hong kong this morning. nicole: we've seen volatility. in europe right now all of the rows or a earlier highs. a couple hours ago 1% gains. now gains. now you see this gains. nice to decide six and three quarters of a percent. cac up 1% just like dax. lauren: in the u.s. and the dow futures up by 32 points and s&p up four and one quarter and nasdaq almost all points this morning. nicole: oil is to the downside. 4453 and gold has certainly been out of favor. let's check our goal has been doing. it was 1103 or so. lauren: let's see how the dollar is trading again. it is weak against the u.k. pound, canadian dollar, mexican peso and japanese yen. the euro traded at 113 written out. plus check out the 10 year yield. 2.18%. the watch that closely wondering what the fed will do. nicole: president obama will make it easier for college students to get tax breaks when they apply for financial aid. will announce changes today in des moines, iowa. he wants

shanghai, hang seng, nikkei to the downside. shanghai composite of 1.3%. in europe and you are looking at them. weakness for the ftse in london, cac in paris and german dax not doing so well, down just about two tenths of 1%. nicole: do a stock market futures looking like this, getting up again. 76 points come s&p up 11 handles, nasdaq half of 1%. >> rick perry might have stopped paying his staff that they can raise some funds on rick perry .org or you can buy a hat, stickers, buttons, campaign office furniture a broken coffee makers of gently used smart eyeglasses. nicole: stephen colbert opening to strong reviews and strong numbers as well. delivering 6.6 million pairs of eyes in the premiere episode easily outpacing his late-night rival. jimmy fallon pulling in 2.9 million viewers to the tonight show and also jimmy kimmel live grabbing 1.8 million. colbert's room is getting a boost from the fan base from the colbert report. as well as huge promotional push from cbs. some media buyers expect it to retain its top ratings by when the dust settles. cbs say

other markets in the region were lifted by the rally in tokyo and shanghai. taiwan surged nearly 3.6% to close at the highest level in over three weeks. traders bought shares of apple suppliers on speculation over a new iphone launch. seoul's kospi rose 3%. and malaysia gained by 1%. >>> executives at toyota motor have unveiled their newest hybrid the prius. it's 10% more fuel efficient. the prius appeared on tuesday in las vegas. it's six centimeters longer and one and a half centimeters wider than the previous car. but it's two centimeters lower than the previous car providing stability. the new model goes on sale in japan from the end of this year and in other regions after that. and small car specialist has launched three versions of its mini vehicle cast. one is aimed at women with trim on special bumpers and other parts. two models are for the sports and outdoors market. they hope the new range will revitalize mini car sales. >>> the incoming chief of the chinese-led asian infrastructure investment bank says he is optimistic about china's economy. he sa

stephen engle, bloomberg, shanghai.: queen elizabeth ii become the longest reigning monarch in british history, ruling an unprecedented period of wealth. -- she reignsive six decades later. now bywe are joined devon. is she really, relatively pauper?, of pa stretch --not by any although within billionaires, she is not worth that much. $450 million only makes her worth 3% of the uk's richest person. she is not worth that much. however her personal assets, if you were to include all the assets beyond that -- houses, the jewels, buckingham palace -- those are worth a lot more, but they don't belong to her. there in the crown estate and they belonged to the british people. --ncine: the royal brand they are in charge of the face of the new royals -- that is quite powerful. that brand has become more powerful in the last five years. devon: absolutely. a brand finance company put the value of that brand, including the hard assets, at $89 billion. that number would make the brand, if queen elizabeth owned all of that, easily th

shanghai composite of 5%. a.k.a. japan up 1%.ng ahead of the federal reserve decision. cac in paris up 45, dax and germany at 33-point, a third of a percent. hewlett-packard, a technology giant will cut 30,000 jobs as

nicole: the shanghai composite index markets are closed.markets posting gains of the saw japan's nikkei up half of a percent. costs beginning fractionally. lauren: europe looking really good. meeting later this morning. you can see it up 1.5% the same in paris in the german dax up 1.7% this morning. nicole: we have watched oil go back and forth. right now down for a barrel of gold down $4. lauren: the dollar strengthened against major currencies around the world. you do see a little bit of strength in the year and again this morning. nicole: let's check the tranmere treasury yield. watch this for everything. 2.18% at the moment appeared welcome to "fbn:am," your first look at what is moving in today's markets, latest breaking news, what to expect that there had. lauren: breaking news this morning. former hillary clinton chief of staff cheryl mills both the question why the house benghazi committee today. meanwhile, a former aide to clinton plans to invoke his fifth amendment right not to testify before the committee. brent paglia know how t

anna: the shanghai sinks. stocks decline the most in three weeks. germany reintroduces controlled border with austria as they meet for an emergency summit on migration. jeremy corbyn appoints fellow hard left leader as shadow chancellor. welcome to countdown. this is countdown from london here on bloomberg television. it is just 6:00 a.m. here in london. i have a chart here of the shanghai composite index from the last three days. it shows the weakness coming from the asian session. around this china story. industrial output is below estimates. all of that initially got the market thinking that maybe the chinese government will give more stimulus. but that be a good thing? we are now seeing some weakness coming through. it is moving a little bit lower, the shanghai composite. let's put that into context. what does that mean for the rest of the asian trading day. let's get to asia. a precipitous drop here. you showed the charge. here it is again. here is the shanghai composite. check this out. a 3% drop and it has played out over the morning. over tw

that is driving down shares in shanghai.onomic data over the weekend -- those numbers came in below expectations driving forward this fear that the chinese government may not be able to arrest a wider slowdown in the economy with all of the told that they have so far put forth. the shanghai composite is moving and having an impact on shares in hong kong. the hang seng is now trading slower. china life is advancing the session among the insurers and tech stocks have been a good theme today. some selling of those tech shares in shanghai. areproperty stocks something we are also watching. -- therency markets japanese yen has been fluctuating throughout today. here's the today chart. here is where it was yesterday. 120.23. now we are trading at 119.74. the yen is strengthening in the wake of this boj decision. deciding to not add to the ¥80 trillion bond purchase program, the monetary base that we have seen. we will watch this closely to see how monetary policy plays out. the reserve bank of australia is weighing in today with i

saying, he sees a further 18% downside to the shanghai composite.ioning for further downside in the options market. we are seeing bearish contracts on the china 50 etf climbing to the most expensive level on record. yuan, we are seeing, of course, china continuing to try to stem the declines of the yuan. they refrained from granting new quotas to residents who invest in overseas markets for a fifth month in august, which will be the longest cold in six years. angie: it's also a week packed with economic data. what are we watching? shery: the focus today will be on foreign reserves, because it gives us an idea of how much china has spent, especially after the devaluation of the yuan, and the government trying to stem the weakness of the yuan. we have foreign reserves in data out today. we are expecting it to have fallen to $3.85 trillion. outre expecting trade data tomorrow. we are expecting a trade surplus, but exports to have fallen again. thursday, ppi, we are seeing eakk non-food inflation -- w non-food inflation. we also have economic data out o

my great uncle arrived in shanghai, he found there was not a single hotel room in the city. he had to stay somewhere. stayed at marvel hall. this is marble hall. it was one of the richest men in china. how rich? look at this. this was his private ballroom. most of the british community were not living in grand mansions. they were still stuck inside japanese internment camps. orders were to find and help him. -- find and help them. .ne of them was betty barr she was interned here at the hua camp along with jg ballard of "empire of the sun" fame. she and her family were cut off from the outside world. in 1945 we saw american planes in the sky. throughout the time in the camp, bette's mother kept a diary, including the day that they found out the war was over. >> great jubilation. thanksgiving service at 3:00 p.m. out-of-doors. entertainments on both roofs. .lear sky, bright moon on september 6, my mother wrote, general hayes, british in charge in china came here today with some others. went to nanking for a treaty signing. say that we re-patriots will be sent to manila to be s

there's a shanghai-hong kong stock trading link which allows hong kong investors to invest into the shanghaialso the other way around. they're going to study the feasibility of it. there are going to be obstacles. there's a time difference. there's the question of what currency any trades might be denominated in. there's a lot of hurdles to get over. , but ite even hurdles goes back to that message of integration. there was another announcement that the people's bank of china is going to issue short-term yuan-denominated bonds in the united kingdom. that is something george osborne said could help london he come a yuan trading center. he wants to become a trading hub. there is some competition from frankfurt. london looks as if it's getting the leg up. francine: thanks so much, david tweed. for more on the china story, we are joined by ing germany chief economist carsten brzeski. we talked about qe in europe area and we talked about the fed. how do you read into this? are we panicked too much over the turmoil in china? carsten: if you look at the chinese economy, it is slowing down. we do se

the shanghai finishing the day down. the cost be finishing to the upside.ig screens in the asian markets. lauren: in europe, a little bit better. london is down only two points. >> hello things up enough? it looks like we will have a positive opening on wall street. several hours until her brains. dow futures of 83 points. >> i was looking about the dow jones was sunday night teams. caches you how low we've gone. down a solid 2%. trade to remember when their triple digits and they said oil would never be double digits again. gold 1139 a troy ounce, down slightly. transfer the dollar trading against key currencies. the japanese yen this morning. sandra: the treasure is a kick up the morning looking at 2.15% up slightly. lauren: and intense being hunted northern illinois after a police officer was shot and killed. fox lieutenant joseph on the list is chasing three men involved in suspicious at 230 yesterday morning. >> he advises radiocommunication he was out of three suspicious subjects. to my wife and one male black picture is thereafter botanic glenna wood

the shanghai composite down 1%. it started the day higher, now reversing course, lower by about 1% in the session. gains in australia. the asx 200 up by 1/2 of 1%. the topix moving as well. the singapore strait times index is down by 1/3 of 1%. a lot of movement in the telecom space. and some of the tech names moving. pioneer is up nearly 4%. 5.4%.ta, technology is a theme in the markets. as you look at the hang seng in hong kong, lenovo one of the big movers in the session. tech defying the overall trend in the market today, which is "wait and see." we wait for the fed and the bank of japan tomorrow. shery: chinese companies are building up debt at the fastest pace in three years as it gets harder for them to finance growth. with efforts to rebalance the chinese economy, right? exactly. for the nonfinancial chinese corporations in the past 12 months, a record high. that's the size of the economy of indonesia. that is despite li keqiang's efforts -- shery: how is the outlook? >> it is not a very bright picture. it i

like the shanghai composite has closed. the hang seng index up 2.5% so getting a rally on the back of that. it was already pretty positive session due to the fact that we did have that big rally coming through and investors here in asia also awaiting the fed but as you mentioned we had two days of losses. it was its biggest today loss in three weeks. in the last hour of trade, text -- tech stocks leading the buying. buying is coming through on that speculation of government intervention. we have seen tech stocks really leave the game. the shanghai composite up 4.9% on the close. jon: thank you for joining us and enjoy your afternoon. coming up, new shares for sale. glencoe made the move yesterday after shares touched a record low. gold goes quiet before the fed decision. why volume is the lightest we have seen all year and later on in the tech is benefiting from a stronger dollar. the swiss national bank as the warm-up. later in the day it is the big one. will the federal reserve told the trigger and raise rates for the fir

the shanghai composite, to date drop -- the shanghai composite a two-day drop.dollar, set at 1.13. a weaker euro by 2%. flat, 45 minutes away from the u.k. inflation data. no firm deal. eu ministers met in brussels to relocating 100or 20,000 refugees, fling war zones in the middle east and africa. negotiations will continue ahead of another meeting set for next month. for more, let's bring in ryan chilcote. today managed to agree on anything? -- ryan, did they manage to agree on anything? ryan: the number of refugees that each eu country will take out of the 100,000. they did agree on quotas for 40,000. on theiled to agree remaining 120,000. they have kicked the can down the road to october 8. that's when europe's top cops all 28 of them are to get together again, unless of course the chaos that we see in europe. the eu leaders are starting to get ahead of that. they can do away with the idea of reaching unanimity. they can have a qualified majority and say no we cannot convince the czech republic and the hungarians on board. we are going to do this the tough wa

go back and look at the shanghai composite a couple of years ago. we're getting close to the level again. it would make sense as we wring out the impact of that amateurish way of encouraging the equity market development, nowappened very fast and the correction, the bear market has been vicious and just as fast as we get back to earlier levels, pre-reforms, i think we will begin to see consolidation your analyst are expecting. julie: you're calling the chinese reform efforts amateurish. you are not alone in that view. a lot of people have been saying that. what could the chinese upernment do to sort of move at this point? his or something we could be doing that would be a more mature response in the market to manage what is happening better? part wasvastating doneraging the devastation in the last years. had they stepped back and realized previous -- previous run-up striven by retail investors had ended much in the same way, that that it addition of leverage really -- now the bear market that resulted, they need to go back and focus on the rest of t

the shanghai composite is after somen by 2.7% not so pretty data.itch up the board quickly for a check on the effects market. they euro-dollar is on a seven-day winning streak, the longest since december, 2013. 30 equity markets coming up in the show. europe's refugee crisis escalates -- drastic measures to impose control. what does this mean for the shang an agreement? that story from berlin, coming up after the break. ♪ jonathan: good morning and welcome back to on the move. i am jonathan ferro. 30 minutes into your trading day. let's check out how the markets are shaping up. .8%. 600 up like it green across all of your this morning -- across all of europe this morning. was tied by media companies. one of the leaders is key f1. -- is tf1. outperforming the rest of the stoxx 600 this morning. there was talk that there might be introduction of advertising in the evening on a state owned the media. how would that affect destabilizing factor from media groups. it is being unwound that decision. driving their privately held media companies and france h

the shanghai composite index up 2.2%.he nikkei's real story with the big surge of 7.7%, the biggest since 2008. cheryl: europe looking good as they move into their afternoon. the ftse, cac and dax all looking strong. nicole: yesterday became the most 400 on the dow. right now to have futures at 200 points. up arrows across the board. 4595. an entire penny on everybody. stand by. down 70 cents. >> curaÇao the dollar is trading against key currencies. versus bubba saw yesterday, the dollar against the euro is performing much better except for the mexican peso. nicole: as we watch the 10 year yield on the rise, 2.12% &-ampersand the big 1000 points off today. before last night in a certain one of the williams sisters would advance in the u.s. open and why would not. the question was which one. serena conceded her sister in three sets to move within two victories of competing the first grand slam since the year 1988. sabrina was nearly perfect in the first set and tighten up in the second sad and recovered in the dirt against

the shanghai had a 2% drop for the shanghai composite, and we are closely watching the japanese marketn has been advancing today on this safe haven play as investors tried to figure out the future of china's economic slowdown. it had a precipitous decline in the nikkei 225, and as the yen goes up, stocks go down. this is a 4% drop -- we don't see these numbers typically in japan. not many leading on the upside. that's where we are in asian markets -- investors taking risk off the table as china continues to reflect. anna: thank you, zeb. guy: the chinese day that it is -- let's work our way through the data. the official factory gauge pmi dropping to a low in three years, 49.7. anything below 50 signals contraction. allan is standing by in shanghai. the manufacturing data -- not exactly great at the moment. paid to attention is this? how much should we read into this? give us a sense of how it relates to the stock market and how authorities respond, how it feeds back into the devaluation story. put that sub 50 number in context for us. allan: well, the manufacturing data is very import

the shanghai composite is down by 29%. that is over the last three months and it is the worst quarter the chinese stocks have seen in four months. it makes the shanghai composite the worst-performing global index so far of the course of this year. 14%n's nikkei index is down over the quarter. that is also its worst drop we have seen in five years. also, japan's nikkei is on track to post its worst month in three years. the australian share market is also not spared in the quarter and is down 8% over the past three months, holding just about the psychological 5000 point level. the equity route began in china on june 12. it was the mid-peak of june when we started to see investors bail out. that we will be hoping investors will return in october. jonathan: thank you very much. investors are coming back. .w is up 60% bmw is up 5%. the dax is outperforming this morning. we will break to most market moves for you in the next hour. here's what is happening today. live intothe bulls the fourth quarter and we wrap up the worst thr

andill see a rally to 10500 to 3390 on the shanghai index.the markets of voting again similar to what the u.s. we are receiving a cell signal on the u.s. markets now. scarlet: i want to go back to the shanghai composite because you mentioned and erosion. you have noted we have seen sideways trading in the shanghai composite in the past two weeks. what does that do to the reliability of market indicators? tom: our tiny model is constructed such that you have to make successively lower highs and -- lower closes and higher closes to generate a buyer or so. during as dormant trading range, so it is telling us we have to make lower lows despite what everyone is saying right now. we are convinced somewhat that we would see this rally when published last friday. the fact that too many people were negative. a lot of prominent people were negative. if you look at the context of what the last seller sold, markets just by definition, will move sideways or figuratively speaking will have to move sideways or upside. that is what we see right now. it is ma

the shanghai composite in china up almost a full%, nicole.ole: when you were talking about asia, look at that, nikkei down 2.7%, lauren. i was reading here, nikkei stocks were closed three days for a holiday but the volkswagen is weighing on the nikkei because mitsubishi -- i'm sorry mitsubishi 3%, mazda, down 7%. all automakers around the globe are being affected by this volkswagen story. bring on europe. we've seen that go into the red. ftse, cac and dax all to the downside. lauren: how is the u.s. shaping up this morning? looking a little weaker. nicole: key commodities here looking at oil which is up about 1% at 44.92. gold at 11:30 five. lauren: crazy action in commodities this week. strength in the euro, pound and japanese yen this morning. nicole: all right. let's take a look at the 10-year bond, 2.15% at the moment for the treasury. lauren: well pope francis set to address a joint meeting of congress this morning, becoming the first pope to do so. he is expected to speak about immigration and climate change while visiting the white ho

shanghai, kospi, unchanged. nikkei pulls back.out market turmoil and global risks and softer inflation in the u.s. lauren: all three indices we're watching. ftse down 1%. one 1/2 declines for the cac and dax. nicole: checking out u.s. markets. we were higher earlier. went lower. back in the green, lauren. nasdaq up nine. it has been winning week. up about 1 1/2% for all the major averages. transports and russell 2%. lauren: look at that we'll show you some key commodities this morning, speaking of transports. they use a lot of oil. right about 47 right now. gold trading nine teen bucks to the upside. $115 as to the troy ounce. -- $1135. yield on 10-year treasury, right now 2.16%. nicole: lauren, you and i were discussing how everybody runs for utilities, they pay dividends. without a rate hike this is where we saw some clout. edison american electric power gained over 2%. excel lon and pg&e up over 1%. this was the top performing second for for the week. lauren: speaking of searching for yield, if you have money savings account or

the shanghai composite had a today tech stock leading gains.vernment has estimated to have spent nearly a quarter of a trillion dollars to prop up markets over the past three months. another setback for prime minister shinzo abe. the s&p cutting japan's long-term credit rating by one level of a plus. japan is now lower than china and south korea. it comes one day after they are faced with adding stimulus. ics will not be able to hold onto the economy in the next few years. breaking news. the u.s. geological survey revising, breaking news about eight she lay -- chile earthquake. it was just moments ago. 8.3 magnitude earthquake, that is a very large earthquake. reports, 236 kilometers northwest of the capital of santiago. there is a sin on the warning leght now in place from chi to hawaii. synonymy waves are also in place for ecuador to peru. the tsunami that generated by this earthquake could be very destructive on coastal areas when it hits, even though it is very far from the epicenter, that warning going out to hawaii right now. we will keep

all groups in the index were higher following a rebound in shanghai. in other markets, seoul's kospi fell. australian shares up 1.7%, biggest one week gain in two weeks. here's a look at some of the other business stories we're following. >>> japan posted a current account surplus in july. it came in at about $15 billion. the bonds trade balance was in the red, but income from overseas investments increased in a large number of foreign visitors brought in a travel surplus of over $1 billion. >>> a survey shows sales staff in japan are less optimistic. the watchers stood at 49.3 down more than two points from the last month. many respondents voiced concerns about effects of the slowdown in china. >>> tokyo has no shortage of entertainment venues so competition for customers is fierce. now it may become even more so as some places rethink their business model in an effort to lure new visitors. nhk world's yan nguyen has that story. >> reporter: the horses at this tokyo track run until nearly 9:00 p.m. spectators can follow the action in the cool evening

the shanghai composite dropped 2.5%.a'sally dragged down benchmark index to its lowest close in three years. in europe, stocks rose after last week's selloff. oxx 600 advancing .5%. u.s. markets are closed for labor day. s&p futures are pointing to a higher open after china says the stock rout is over. let's bring in shane oliver. it looks like investors are betting on the future market and believe chinese officials. what about china itself? what about retail investors? >> that is a good question. marketsy, the chinese finished the day lower, down 2.5%. the pressure is still there. i would be hopeful the worst is over and any bubbles have been deflated. get momentum on the downside, it can continue for a while before things out. things areto argue undervalued on the shanghai composite. for hong kong shares, it is seven or eight times. the big cap stocks are expensive. angie: that is certainly the case, people perhaps buying on the dip. june,as not the case in when valuations were out of control. i have to ask you if a pr

moving almost in line with china's tumbling shanghai composite.gh last week it fell, today it has regained some momentum after reopening trade, so we are seeing it again for tenths of a percent, but still under's seven d u.s. cents. back to you. -- still under 70 u.s. cents. rishaad: now that campaign for coal. australia hope to talk the benefits of coal as an energy source. it has thehashtag #c oalisamazing. what on earth was the minerals council thinking here, paul? tol: i think they are joined point out that they are not evil, just misunderstood. has been an, coal important part of australia pro economy. it is the second most exported, 71% of australia pro energy. predictably it did meet with ridicule on social media, one saying that doctors once promoted smoking cigarettes. theher that it is glad that industry is realizing the 18th-century potential of the energy source. another said that it's amazing at blogging moms, landscapes, and. another example --coal raises temperatures, destroys lungs. #bestprfailever. rishaad: a grubby image for coal

the shanghai composite is down as well.e have some rotation in the shanghai composite. this market often goes against what we see in hong kong. shanghai is up and hong kong is down. we know that all too well. rishaad: china's top foreign affairs official saying the decision has nothing to do with the government's devaluation of the yuan. the state counselor said market forces determined the value of the currency. >> we let supply and demand determine the value. it is quite steady and value -- in value and we will continue to do reform in china. including factors, the financial sector. when people look back 15 years from now, they will see the market reform is really good not only for china, but for the rest of the world. now -- fromnths for now, will the rmb be lower in value? natural for the currency to move either way. it is a reliable currency. i am sure it will continue to play a healthy role in promoting china's economy and the international trade and investment and so on and so forth. eddie: some have speculation -- y

the shanghai composite is down 1.5%. trade data out this morning shows that exports in august fell 5.5%, adding to concerns that the economy there is slowing. chinamall caps on the index are following. -- falling. have plunged on speculation that authorities would not help with prices. in hong kong though shares are slightly upward. eight shares are rising. 1.6%, iti is down briefly rose in the morning, but lost steam. we had the report showing that the economy contracted in the second quarter, less than previously thought. it tracks 1.2% in the second quarter. pioneer, there has been a surging, more than 8% after the electronic maker says they began working with a german maker to develop automated driving maps. the japanese yen is gaining momentum, reversing declines from earlier. the nikkei is feeling that downward pressure. the oil sector is rising. largest news that the oil and gas producer is actually going to put a takeover bid for oil surge, and $8 billion takeover bid. it is up 2.7%. asian shares all in all on th

the shanghai composite has had it's worst quarter since march 2008.e hang seng index is having worst day, and a worst quarter. in five years, things are looking a lot brighter. a buyer confidence, something and i go away. some say they come back with a vengeance in october, and we are seeing buying on the last day. consumer goods really leading the way through here in asia him and that is because we have seen a big pickup in automobile stocks across the region. china cutting the tax for those purchasing auto vehicles. you can see in japan, leading the way there by 18%. but we have also seen some big buying coming through from a lot of the chinese carmakers, which here hongtric cars kong doing incredible well -- up by almost 6%. and we have also seen a good pickup coming through from toyota, which is up by about 4.5% in japan. and the motor company, the eighth share listed here, look at that. they are up 33%. certainly, a lot more buying coming through in the region. and also, of course, a pickup in glencore -- the hang seng index of 1.6% in the last a

we have shanghai open. nikkei down. >> let's look.and a half decline. >> we are seeing pressure here. dow is down 62. these are the lows in the morning. s&p down 7 and a half. >> that's where it seems to be, same on friday. gop runner said to unveil a new tax plan that will hit wealthiest. trump talked about the plan during interview yesterday. we will have details of the trump tax plan. a big day for world leaders in new york as president obama gets ready to address the united nation nations and meets with putin. dow is down substantially this morning. 64 points. your first news at morning markets and breaking news. ♪ ♪ ♪ e the world ♪ - ♪ change the world ♪ i would be the sunlight in your universe ♪ ♪ you would think my love was really something good ♪ ♪ baby, if i could ♪ change... ( woman speaks ) ♪ the world... a message from the foundation for a better life. >> breaking news this morning. big day for world's leaders in new york. president obama set to address un followed by vladimir putin. we will have the latest. >> lauren: goo

it looks like the shanghai composite was the rising tide that listed all the boats.imm: the s&p 500 is higher than more than 36 point. the dow jones industrial gaining

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 just something 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, both 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 generational traveling in china is even more valuable. 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 have already had both feet in since 2006. arnold: we sail to over 700 ports in the world every year. we source from everywh

we will week with the shanghai market ambassador.-- we will speak with the shanghai market ambassador. and we will have opening numbers when we continue. ♪ great time for a shiny floor wax, no? not if you just put the finishing touches on your latest masterpiece. timing's important. comcast business knows that. that's why you can schedule an installation at a time that works for you. even late at night, or on the weekend, if that's what you need. because you have enough to worry about. i did not see that coming. don't deal with disruptions. get better internet installed on your schedule. comcast business. built for business. rishaad: let's take a look at some of the top stories. japan slowly gained in the second quarter. gdp falling 1.2%. the bank of japan said to be losing confidence. china's foreign exchange reserves fell to a record low. 94rency stocks dropped by billion dollars at the end of august. beijing has tried to prop up the yuan. it was once the darling of the mobile phone world, htc has been benchmark. taiwan's the stock

shanghai composite, i should do the level earlier. 1.2% higher. volumes are 50%.ree-month average. a lot of these retail investors which make up the bulk of that market not convinced that now is the time to get back in the markets. that is up the third straight day. back to you. harrison of the data we are expecting. some events that are on the agenda for this week. we get pmi readings for the euro area. on thursday we hear from shinzo abe. he will lay out his goals for the rest of his term. janet yellen also speaks on thursday in amherst where she may elaborate on the central banks thinking. on friday we get second-quarter gdp for the united states. guy: mario draghi will be speaking. we have this matter of the bw supervising -- bw supervising meeting. anna: volkswagen could be facing a criminal investigation by the department of justice. after admitting to cheating on admissions -- emissions tests. in theppliers caught downdraft. let's go to our international correspondent hans nichols for more in berlin. talk us through the latest. the story keeps developing. h

the shanghai composite index dropped the most in three weeks.t is raised the perspective of more stimulus from chinese authorities as they try to push and the slowdown. -- as they try to cushion the slowdown. malcolm, what can we expect next from policymakers. we are likely to see a response on numerous fronts. we've heard from the government last week that plans are to boost the fiscal response to the slowdown. today there were some tweaks around that. they are going to lower the capital requirements and some new infrastructure projects that will allow less of a down payment. roads, rail, projects. more monetary easing that can come in various forms. banks for reduction of rrr ratios. the downside on the deposit by inflation is picking up because of rising pork prices. that may limits go -- that may .imit scope it will be ongoing. effort to keep the yuan stable and support the stock market. a multipronged approach from china. francine: it seems to be a juggling act between keeping the economy growing and reform. malcolm: there are two things go

shanghai, -- ain late day rally in shanghai lifting stocks. gold riel -- rebounding.et is up right now 1.6%. the same for the dow industrial. all 30 sectors are up. the dow is up 293 points. the nasdaq is turned positive for the year. at 4771. i mentioned the shanghai composite. lookings apparently past trade data showing china's exports fell last month. of 2.3% toom a loss a gain of 2.9%. let's check oil. brent crude is having its best gain since august 31. at 4897..8% the nymex crude on the other hand is down 1.6% at 4528. matt: a technical point. it's interesting when you go back and look at the crude contracts. because yesterday was a holiday, we didn't have a settlement from the nymex. there was still trading of contracts. yesterday's activity is putting today's activity, which is why was see a red arrow with nymex crude but a green arrow on the red. gold is trading a three-week low. but gold is turning positive right now, up just over .1%. gold has been fairly erratic. the bond market may be the smarter money. you can see there is a little bit of a selloff becau

the shanghai composite ending in the red after shedding 12.5% in august. overnight we saw the manufacturing sector shrink at the fastest rate in three years. it dropped to 49.7 in august. the first sub-50 reading since february and china services sector posting a fall from july to 53.4 and if you take a look at chinese and asian markets the big question is will we actually see a turnaround? a series of steps taken by the central bank to kick start the economy and bring back growth. but we haven't seen it through to the real economy. this data suggesting that more pain to come. >> absolutely. we do expect more easing but we already know that that easing is having less and less effect. i point to the lending number which is have been stagnant. we'll see more cuts or we expect more cuts and as chief em economist told us this morning, the pboc is now running just to stand still and when things are slipping, when confidence is low, of course these cuts have much less effect and that's really the longer term problem china faces now. >> there's also a wider quest

when you look at mainland at stocks themselves, you can look at the shenzhen, the shanghai, large-capmall cap, there are divergences all over the place. the key difference between mainland and hong kong is the multiple -- it is still quite wide if you take the forward pe on the shanghai composite, we are talking somewhere around 13 times. in hong kong you can look at the index, you're talking around 10 or below. there is still a split. h.: a share versus this is an issue where you have dual listed stocks trading north and south. it is still one of the biggest split that you could possibly find in global markets. angie: where does that spread stand? tim: there are a couple ways to look at this, one popular index, the a h premium index, right now that is trading at about the level of 140. that indicates a 40% premium, but if you look at the average premium of the 80 stocks that are dual listed, it is right now at 115%. if you think about this from a valuation perspective, you're forward pe a share on a medium basis four times. , four times. take your pick. this goes back to the confusio

we have four ships home ported in china -- four ships home ported in shanghai.rently 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 is a good market already today. betty: yes. arnold: we have four ships there. three on our castle line, one in 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 t

shanghai is up 1%. this story, you can check it out on our website. economists surveyed basically see china that china may have to scale down its growth forecast for next year to as low as 6.5%, still not bad, but if you are 10.5%, of course you're going to get a scaling down. around theese prices world. ok. new zealand, the story there, the trade deficit was out. into august, 3.3 billion kiwi dollars, north of a billion kiwi dollars there. the movers, and then we will get to the supply chain. the stories making headlines. this is the first time that japanese stocks are getting to react. to that story. we go.come closer, there have a look. these are the intraday moves. exposure.hem, .8%look at the range, about to a high of about 10% or 15%. a lot of these suppliers in japan. at this point, very sentiment driven. 6%, 7%, 8%, 9%, 10%, 11% even. have a good day. not only waves across the auto industry, but it could effects with the commodities market. let's bring in shery ahn. shery: october being investigated, we are hearing regulators and other countri