sumitomo has been one of the worst performers down more than 6%.alia also coming under pressure coming down 1.5% today. korea down by 1.1%. bank of korea leaving interest rates unchanged. here is where you are making some money. kia motors is up more than 2%. sherry: the yuan is declining. the pboc has increased its cash injections. robin: this market is getting more stilted more disconnected from reality. as the days go by. the 10 year bond yield is up because more people are. sorry the bond yield is down because people feel there is nothing to buy. stocks are down to levels that haven't been seen since the crisis of last year. so that is happening. is going down where it had been going up for the past few days. people don't really know what is going on. they are running for safety at the moment buying bonds so that they know that their money is safe at least for now. another disconnect is really disconcerting. policy statements are coming out and the actions are very disconnected from that. short-term, they want to calm some of the volatility of

i was tracking the likes of sumitomo chemical. a lot of concerns by investors for its petro chemical group operations in saudi arabia. the share prices actually fell to three-month lows. now, we did see the yen also weakening against the dollar but that really didn't help with exporters too much. again, we were tracking some of the big global names there, casio computer, isuzu, as well as nintendo. all trading down. investors look to have really bounced back a little bit from that initial sell-off that we saw on monday. and a little bit less volatility this tuesday. i'm ramin mel gaarde at the tokyo stock exchange. >> thank you. >>> "newsline" is airing a five-part series about the economic outlook for major countries. today we focus on the world's second largest economy, china. we asked an expert what he expects in 2016. >> very nice to meet you. >> thank you. >> reporter: this is dean of the asian development bank institute. he first went to china in 1991 to promote policies for growth. since then he's seen the economy shoot up

sumitomo is seeing a loss in prices for nickel. a projected loss has prompted the company to describe its earnings forecast for the business year through march as undetermined. demand for nickel is shrinking due to mainly china's slowing economy. they expect nickel prices to fall less than half of what they initially thought and likely only to return to 80% of the earlier projections. >>> the officials say they may have to post further losses this business year because prices of crude oil and iron ore are also falling. >>> the u.s. federal reserve has released its beige book. activity is expanding but some industries are struggling due to china's slowdown and falling crude oil prices. the report is based on interviews between issues at the 12 federal reserve banks and key market players. the interviews took place from december to early january. consumers spent more during the holiday season and auto sales continued to be strong in most districts but unseasonably cold -- warm weather hindered clothing sales. labor markets improved a

one of the big gainers on the nikkei, sumitomo, coming out looking pretty positive, up 11% accordinge nikkei. shares up 4% in tokyo. rish? rishaad: indications that things are a little bit brighter than when it comes to the wider economy, at least some would have us believe that. some of the early indicators, stablization, well let's bring in our china economic expert. malcolm, we have another sign the chinese economy may be holding up better than some other bits of data would have us believe. >> certainly what the markets would have us believe. the data again shows the steady grind lower to generate early indicators and unofficial guide has come ahead of the first official ratings expected on february 1 but they did show continuation of this theme, strength in services which is what we saw last year and that helps consumption. more weakness in manufacturing from the min shin p.m.i.'s. they'd gone missing for months but they're back. we've got a slight deterioration in a reading of business sentiment. rishaad: all right. the thing is, you know, we've got these smaller gauges, haven't

community. 2008, it was five times oversubscribed and it was cut in thirds between saudi aramco, sumitomo rest of the shareholders and saudi arabia. domestically speaking, so if you are a shareholder and you wanted to take advantage of low oil prices in lieu of recovery at some point, maybe a share so would not be a bad idea or a bad investment. matt: i don't think it is that horrible timing. chart shows the momentum in oil production. the top is saudi arabia's production and the bottom is the u.s. momentum in oil production. gambit to push shale producers in the u.s. out has worked, so now you can buy a piece of the winner. jon: another name for the chart this state versus private. -- is state versus private. this date is saying, keep pumping. the moment they go public, that game could change in a significant way, maybe not in the beginning that state versus active situation is important, isn't it, michael? michael: i was thinking to matt's point and how you describe the difference, jon. if i had the difference between aramco, it and saudi is not even close. i would don't exxon mobil wit