sumitomo mitsui will buy them at $2.8 billion. the comompany owns more than 30,000 freight cars. it's the sixth largest u.s. firm in its field. the bank of japan's negative interest rate policy is putting a squeeze on commercial banks. the purchase is seen as a way for sumitomo mitsui to diversify its profits. >>> cacars, boats, a and planes. these are the transportation modes we're most familiar with. now a company in the u.s. is working on a new technology that promises to revolutionize travel by transporting people and cargo at near super sononic speeds. nhk k world'ss rosa sabrino h he detatails. >> repeporter: thiss is whahat l could l look like in the not-too-ststance fufuture. first, you reserve your seat and settle intnto a smama p p at a nenearby station. then y you're shott throuough a at extremely high speeds to yr dedestination. the top speed is mororthan 1,000 kilometers per hour. meet t hyhyperlp, an entely new mode off transportatation. travavelers will l be ablee too from los a angeles to san francisco, a a disistance of ov 600 kilometers, i in around 30 minutes.s

mitt sue beeshy ufj and sumitomo mitsui gained almost 1.5%. oil refinery ideitsu and both companies managed to end the day higher. the european central bank is in focus on thurz. many investment support the bond. traders will also look from comment on the impact of italy's referendum on the euro zone. reporting from the tokyo stock exchange. >>> moving on to the markets of the asian pacific. the shanghai composit snapping three days of losses. hong kong up 0.5%. sydney's index also advancing almost 1%. 5478 the closing number there. the country's third quarter gdp contracted. that weighed on the currency but investors bought stocks and hopes for government stimulus measures. the jakarta composit down and the strong earthquake in the northern part of samatra island dampened sentiment with most sectors ending down. here's a look at some of the other business news we're following. >>> a key index of the japanese economy has risen for the second straight month. the coincident index for october rose to 113.9. the officials say the upturn is due to

sumitomo mitsui, mitsubishi ufj ended lower. the federal reserve kicks off its two-day policy meeting. we may see a relatively calm day on wednesday. i'm phoebe amoroso. >>> investors across the asia pacific region traded cautiously ahead of the meeting. seoul closed the day down 0.3%. in china, the shanghai composite ended flat at 3155. investors remained wary of a crackdown on speculative stock trading by insurance firms. over in sydney, the s&p asx 200 index was down for the first time in six days, falling 0.3%. some traders booked profits from recent gains in energy and resource shares. >>> japanese scientists are teaming up with local firms to design a next-generation cancer treatment machine. the collaboration is betweenen research institute and others. thee project i is called quantu scalp scalpepel. >> transnslator: if we put quanm scalpel technolology t to pract use, then we could achieve a zero cancer death society, not only in japan, but in the whole world. >> the new device will use something called heavy particle be

mitsubishi financial group and sumitomo mitsui. i'm giang gnguyen. >>> sentiment was mixed. concerns about capital outflow to the u.s. still. the shanghai comp zt up by 0.2% finishing at 3,122. the index plunged on the week. worst weekly fall in eight months. the dollar remains stronger to emerging currencies. the people's bank of china set the midpoint rate against the green back at the lowest level in more than eight years. >>> the japanese government has held its first meeting to discuss an event that the prefecture of osaka hopes to host in 2025, the world expo that is. the meeting was attended by experts in related fields. they include professoror off ky univerersity who won a nobel pre for hihis studies. osaka governor explained the prefectural government basic concept of its plan expo 2025. he said the event would be held under the theme of the health of humanity and the challenge of longevity. some participants said issuess f poverty and famine should be included in the theme to win support from many countries, including developing nations. expos combine entertainmen

sumitomo mitsui falling 4.6% today.re seen to have the highest capital exposure to toshiba, according to analysts. in the other direction, takata gaining 16.5% on news that a settlement may be underway regarding the airbag debacle. the company saying it is not the source of the report that it is theing settlements with u.s. department of justice related to its faulty airbag, saying there is no decision made and nothing that requires shares surging to the daily limit after that wall street journal report. that is asia today. very muchhank you indeed, right, let's have a look at china as it drops its target for trade growth, the second year they have done this, and all according to the state media reporting that authorities are downplaying this goal and the whole motion of goals. sherry and has the details. whole notion of growth targets, and it is interesting because the ministry just ended this key annual conference without a target for 2017, and they did not set a target for 2016 either, but what is interesting is how

they are going to sell it to smbc rail services, which is a wholly observed subsidiary of sumitomo mitsui bank. basically they are going to sell the fleet of 29,000 railcars. the price $2.778 billion. >> that stock up a %. >> the fact that we know that the rails probably have excess cars, if anything, and i am not sure that this wasn't just the beginning of what could be -- how about a japanese buyer. that's something? >> i recently looked at a deal in railcar leasing, and i came to the conclusion that excess cash went through all the q's of public companies trading, et cetera, and i think it's going to be a few years before it works out. carl is a good seller. >> have you guys been following the price of coal versus natural gas? natural gas going through coal. >> if you have a gentleman who just doesn't seem to be all that in favor of the epa, he says he is suing it, and you could be at this moment where none of the big utilities that are supposed to be converting to natural gas, well, we'll have to. >> in terms of spend, in terms of the plants, in terms of the approval process, the mone