it is up with the shanghai composite three points below the 3200. areain mind that it is the where we last saw it rise. there is a matter of the mistaken days and they are up half of a percent. nowhere near it the levels of fact in april. i just want to mention that we have breaking news over the past goingnutes of the stocks disturbingly high and we have a company with a cut in the senior management position and we will continue to follow the story. we confirm that and we will catch you some details. , can we take aa look at the chinese stock markets? watched an industry gauge that automakers in china have that measure the inventory level. they go out and show you the month and the year before. the latest one we saw was a september and it was a fairly sharp uptick. is inventorye 50% that is rising. a management professor will tell you that. when it comes to travel-related stocks, these are the shares we are looking at and we are sevenng -- trading at times or eight times earnings. and, land,e travel, sea, railways, whatever, over the golden holiday

the shanghai composite up 5.7%. -- up by .7%. korean one and aussie dollar also with earlier losses. it does leave the government 70% target -- it does leave the government 7% target within reach now. david has been sifting through the numbers. 7%id: we are growing below for china, that is the third quarter number. 6.9% year to date, a little bit below the 7% growth target. given the measures they have put seem they areoes confident they can meet their target. just to put this into context, 6.9%, it was 6.8% was the estimate. if you look at how large the economy is, that translates to $110 billion in additional output. it is a fairly big amount of output. this is more interesting -- services clearly the biggest portion of output for the first nine months of the year when you look at the primary industries, everything from agriculture. you can see that on your screen. 40.6%. iss, they areg m continuing to scale back the overcapacity issues. you have this big drop when it comes to property, housing investment fell 12%. go,il sales,

this is being led on the shanghai composite. i 3%, adding to those very impressive gains we saw across the asian region at the end of last week. the number of stocks are hitting that mark. many of the property stocks are meeting again. there has been commentary that it will increase fiscal support for shantytown redevelopment. that is driving a lot of the property stocks in china. is up another 1%. japan closed today, taking momentum out of the region. we did see australia close lower today, down by 9/10 of 1%. the picture of the asia-pacific index. you can see health care is getting a little bit of a switch out as consumer services. there has been good buying in the telcos and the miners. the chinese property stocks i was talking about her here. we have strong numbers coming through. this suggests that spending is still happening in china. that is a good overall sign. capital is leading the games and industrials are doing incredibly well in china. one thing we are seeing investors switch out of is investing markets. we have u.s

the shanghai comp sit down three percentage points overnight. a lot to discuss. that is what is happening with markets. here is what is happening in the next hour. capital improvements, credit suisse banks raise more than $6 billion in fresh capital. we speak to the ceo. bad is it the new good in japan. disappointing trade data since stocks higher. towardsarrels impeaching its president. ♪ so credit suisse is to dollars as alion strategic overhaul. reporting earnings that missed estimates following a loss at its investment bank. francine lacqua sat down with the new ceo. she has how he measured success.

but that's probably the only one in the whole city. but in shanghaing up. and there's ten more coming up in the next couple of years. you know, it's a big world, big city, but small village at the end. and i think food is the best weapons on earth to make peace. it's the food. it's the drink. we have better peace on earth. and you're probably the united nations ambassador. >> in time. >> and these little shrimps are from south pole. and only new zealand has the right to farm them. >> right. >> try it. with a little wasabi if you like. >> a lot of chinese restaurant in new york. >> i grew up in the '50s and the '60s. and even then, chinese restaurant, chinese food, was really an essential part of being a new yorker. i mean, if you didn't know how to use chopsticks as a new yorker, you were a terrible new yorker. >> do you know how to speak like a brooklyn person? >> it's a tough accent. queens is easier, you know, it's more of a -- i can't -- i mean, i lived right next to it my whole life. >> can you say -- >> the accent? >> we don't want to hear -- >>

but first, let me show you the shanghai composite over the last year.y, what happened is that it turned positive on chinese stock. in september of last year, we saw the shanghai composite double through to its peak on june 12. and in a bloomberg tv, no less, on june 16, he predicted a notable crash in chinese stocks. then saw the composite dropped about 40% to a low on august the sixth read since then, we have seen it come up. using volatility come down to. but he is still saying to sell, why? drop,e despite the 40% the shanghai composite index is still above its long-term average. it's valuation is above average. he also says that government efforts will drain market liquidity and dropping volumes -- equity volumes -- just that they lack faith in a rebound. what he is saying is waiting for this to drop another 18%. at this point, 2500, for you should buy. but caroline, he is actually standing somewhat on his own with this. the average estimate from eight other strategists, compiled by bloomberg, implied a 12% rally by the end of the. caroline: which on

living the shanghai composite in terms of index points and market cap, petrochina is looking good. ed 17% during golden week. anurers, china life and ping looking strong. these are the three stocks dragon. dragging. in hong kong, falling off the energy stocks. china mobile is off almost 2%. japan tobacco is also going down. rishaad: looking at they ranks of those recovering in japan. news of a surprise slow down on the factory for machine orders for the third consecutive day . it is notoriously difficult to predict what is happening with machinery orders. just like with goods in the u.s.. >> they are quite volatile but this is a sharp drop. very surprising. something we were not expecting because there are few signs of recovery on the factory floor. taking a look in august, the machine orders fell 5.7%. the forecast was for 2.3% so we were supposed to see some type of pickup here. that demand isng only going to be temporary. now's three straight months of decline in machine orders from the economy. the slowing asian economy also a downsize risk. they say from the third quarter, we c

the world. joining us from shanghai is the dean. what your plans?ll have expansions globally, mainly working in europe these days for globalization, for technology upgrading, for brand building. that is why we need to do a better job. not only we export chinese education abroad, specifically what you think in this globalized economy that you would want to impart on your students? >> they need to gain more knowledge about the multi-cultural management, know how to work better with the foreign companies, because for years, the best weight was to receive foreigners at home in china, but now they are working more and more globally, and we also need to upgrade the knowledge about europeans on china, because they need to work with a more complex , bigger chinese economy. the first are mainland school to control a stand alone business goal in unit -- europe. -- stand-alone business school in europe. i we going to see more cultural exchanges as part of the program question mark -- are we going to see more cultural exchanges as part of the program? >> of cou

the trading day to come online here in hong kong and shanghai. waiting those growth numbers. here is juliet. we are seeing the china and hong kong markets open a little higher although china has slipped into the red. you mentioned, a lot economists expecting this is going to exacerbate the china slowdown story. we have seen investors bailout of a lot of the so-called risky assets, the ringgit, the aussie dollar. i nikkei of 2.25, down by about 1%. tgere -- the weakest they are down by almost 9%. we are seeing a number of the mining players lead to the market lower. evolution mining, they are down by more than 70 -- down by more than 7%. we are watching the currencies because that is where we are seeing weakness ahead of this china data. flat to the safe haven yen. the yet is stronger. -- leanne is stronger. let's get over to beijing and bloomberg news chief asia economist tom holick. tom: the consensus forecast is for a 6.8 per -- 6.8% year on year growth rate in the third quarter, down from 7% in the second. that weakness reflects a number of fac

chinese stocks listed in hong kong, and leading the charge, and shanghai. and southeast asian currency doing right now -- we had sharp gains last week. this morning, that is when the weakness started to creep back in. together,t everything the dollar index, if i am not mistaken -- there we go. the dollar index is a little bit lower, a fraction really. this is a function of the majors, not really because of , and the fedan fx funds futures, what are the chances of a fed rate hike? about 40%, and that is a moving target, obviously. don't hang all of your hopes on that one. and stanley fischer, and during the imf, they are keeping these rates, and we are looking at december, of course. moving target. i will be back later on to flesh all of this out for you across markets, across asset classes. back to you. some are going on a series of cost-cutting measures, including cutting jobs. which banks? who are we talking about? let's start off with standard chartered. thatter: it is understood the ceo actually sent out a memo to staff last week, saying these are going

that's why i'm learning the language, as well, and trying to get into the culture. >> studying and living in shanghai, however, isn't cheap. it's the most expensive city in china. and people are often startled by the high rents. a company was launched recently with the aim of assisting foreign nationals moving to china. integrate chinese life helps not chinese obtain visas, find homes and gives advice on day-to-day living. >> twis national nicholas moved to shanghai five years ago. he started this business in 2013 and joined forces with the chinese friend this year. >> nicholas's six staff come from different countries. they communicate in english or chinese and offer services in six languages, including french, german and dutch. >> where are you from? >> i'm from holland. i came to shanghai in the beginning of august to look for a job or an internship and then i found nico and this office and i really, really liked it. >> i am from spain. >> why do you choose china? >> because -- mainland country. >> i know. i did because i really like the culture and also i wanted to learn the language. >> nicholas

you might've just noticed the shanghai composite region from red to green, that has been the same all day. are fluctuating today. the shanghai composite holding on right now to that eight-week high. we are seeing money coming through from energy players. taiwan has also come off yesterday's high. up 0.25%.ares are you can see here that the oil and gas stocks are falling. crude fell once again, but some other stocks looking pretty good, some up by 0.8%. we're seeing a big switch out of health care stocks. japan is hurting today. generally, we are up, and that is the first win of the week. rishaad: a surprise from japan, unexpected trade numbers. we have that data, offering little encouragement. they do make a bleak assessment of the situation. in china, david has been looking at this evidence. down for china, and some structural issues in japan. it has been a sluggish reading so far. quebec to january, we are about --growth in exports for 2015 going back to january, we are at about 6% growth in exports for 2015. emerging markets find themselves a much the same situation right now. we h

the shanghai index closed up nearly 3%. chief asia economics correspondent in hong kong. enda, what is behind the china gains? are we playing catch-up or has there been a change in sentiment? enda: good morning. i just think it is a bit of a post holiday glow will stop i don't think the story on china has changed very much. it remains the same, but we are going into very important week, which will give us a string of top-tier activity data. we are going to get trade numbers, inflation numbers, gdp, which hotel is how the economy travels through september, and whether it is getting traction. beyond that, we will get the new five-year economic plan from the communist party. where they want the economy to go. we are heading into a busy few weeks on the china economy front. over the lastkly, week with what we saw on the back of an ugly payrolls report, an unwinding e.m. the msx recovering, emerging stocks recovering. is that a short-term swing or is it something more fundamental? enda: i think you have just summed it up well. it

is showing it has been lifted by the energy players. shanghaif course has only been open two sessions this week, the continuing a more than 3% gain yesterday. japan looking strong despite that big fall we saw in retailing. that is the biggest drag in terms of market cap on the nikkei 225. over in australia, a pickup in the energy players lifting a market. seen this go we into equities, we have also seen money coming out of bonds and money going back into emerging market currencies. they are -- the ring it is on track for its biggest weekly gain since 1998. it is strengthening against the greenback, up by 2.5%. certainly a lot of money going back into emerging market currencies. commodity currencies and a traitor who called the fact that the aussie with rally on the back of that redounds coming through from chinese equities also saying that these commodity currency rally has led analyst at a&p n 70. one more look at the shanghai composite as it heads into its last hour before lunch, a number of stacks hitting that 10% daily limit risk. china's me

it has been a good run since the -- the shanghai composite is back to about 3300. were also -- were also up. take a look at the small caps index. we also join the party here in hong kong. that hashe key thing happened over the past few days, especially yesterday, was that volumes have started to pick up. to a lot of people, it indicates that regional investors have started to trickle back in. they will need the retail investors to get back in, but there has also been unusually more speculation that the pboc may act soon. obviously, them bring down rates ends isfore the year just about a given. it is not just a matter of bringing down real interest rate. it is almost a mathematical requirement. so there is that and there are a lot of these targeted stimulus measures. housing,the cars, the the refinancing measures that they announced over the weekend. really pushing investors to get back in the market. enter economic data season. the next few days, the national statistics bureau will be busy turning out these numbers for september. you look at the forecast across the

try as we may to relate the shanghai composite to anything, given its obvious phoniness and emphasis on so many companies that no one has heard of that are china-based, the shanghai has held through a torrent of chinese bad news. that 3,000 level, above 2,027, has held. i remember when that level was first under attack by sellers. it seemed like child's play to take it out. there had only been 23 days when the averages had gone up since the chinese stock market peaked on june 12th. almost every single uptick was met by multiple days of selling. since that bottom, half the days have been up, some meaningful. even though i don't know a soul willing to claim a bottom in the shanghai, after four separate blitzes, there will be plenty of imboldened bulls. you'll see a correlation that is more than a little startling and clearly not a coincident. there's a second almost surreal data point that occurred two days before that chinese bottom. oil stopped going down. the newfound paper of record, "business insider," captured the moment with its headline: crude collapses to a stunning new low at

but playing the shanghai market is like going to the casino.phanie: the fact that they are having this anticorruption move doesn't mean anything? jinping isse of xi important. prior to his rise, the country was open for business. as long as you made money, anything went. and you didn't upset the political applecart. sent money abroad, do whatever you want, just grow. under xi jinping, it has changed. anticorruption has come to the fore. he has taken a very anti-western town in his outlook and how companies do business. the landscape has changed dramatically, politically and economically, under his leadership. he is a very strong leader. david: anticorruption could facilitate investment? the money should go where it should. grease and also the now you have people scared to do anything. betty: that was billionaire investor jim chanos. to bloomberge in tomorrow. speaking about china, let's show you the chinese stocks in shanghai. we will show you where they ended up overnight. stocks responded quite favorably. up 3.3%. the shanghai composite. , we

if you take a look at the largest of the chinese stocks in the shanghai composite, a number belowse areng from peer groups. if you look at it on a decile , you actually see the large-cap stocks underperforming since july when state support measures were put in place. that is a bit counterintuitive. you see a very big diversions and valuation. there he interesting to us looking forward. rishaad: thank you very much. angie: checking in on some other stories, there are signs that a deal is near for a transpacific partnership. the japanese minister told the government a deal will be agreed in principle today. the u.s. and australia came to terms on intellectual property rights for biologic drugs. leaving dairy as the final obstacle. new zealand is unhappy about access to the u.s. market. saudi arabia has cut oil prices to asia and the u.s.. it will sell its putin -- median arabia and other opec members have raised supplies to raise market share. u.s. isount to the narrower and aramco has raised prices for northwest europe. alibaba's jack ma is a man of many talents and he may have a future

we started out about 1% higher on the shanghai composite and the hang seng.off the highs of the session. macau casino shares, take a look at the numbers. galaxy entertainment leading the way in terms of the hang seng. those chinese shares traded in hong kong, they are nearing a bull market, if you can believe it. insurers, another story we want to watch. we have china reinsurance debuting in the hong kong market , that stock is up 2.7%. that is a nice performance. analyst say the company faces competitive pressure from new entrants to the insurance market. -- a quick check on australia because commodity prices have been in focus. bluescope has matched an offer from cargo. it is buying cargo stake in northern star. minerals up as well. tokyo, back from the lunch break. panasonicand hitachi, up 7%. same for hitachi. beatting profits, they forecast and the stocks are doing quite well. sony is also up on possible dealnews involving the toshiba image sensor unit, that would be $160 million deal. there are still some bright spots in this market. yuan set to come un

recedin hong says the shanghai composite must follow another 18% before it is cheap enough to buy. vernment efforts have not been enough to revive a bull market. the ringgit and rupiah have rebounded. the currencies have been among the worst performers in asia. the slowdown weight on emerging markets. inda amin.o hasl what is behind the turnaround? haslinda: mainly because of disappointing u.s. jobs data. less likelihood for the fed to raise rates before the end of the year. that is positive for emerging markets. malaysia has other reasons. biggest gain in my month because of crude prices rising. it pushed the ringgit up the most in 17 years. for the rupiah, it was because of stock in flow. investors buying back indonesian assets. risk.is positions are being reversed drastically. some have expected a turnaround in emergency -- emerging currencies sooner than later. angie: it is very notable. what is the sentiment. is the worst over? haslinda: what is worth noting is that with a rebound, the rupiah and ringgit remain the worst performing currencies in asia this year. thendamental con

alix: take a look at the shanghai composite, what is driving it i should say? his is actually margin credit that is outstanding and the reason is significant, if you fallen the high, it has significantly. this is why you have seen the rally in the shanghai composite, closing above the 50 day average. there is a headwind as traders unwind margins, this is over in a has run its course. joe: that sound like good news. dive, theor my deep market is getting ahead of the european central bank, traders are looking at possible rate cuts, which is already negative. they have made it clear that they are not ready to discuss stimulus quite yet, so you are looking at 0.2%. 0.2%, atare negative least a 50% chance of a 10 basis point cut. they should be meeting next thursday. joe: so they are not done. scarlet: correct. joe: "the fly against deflation, i would did dive into my desk will look at the know about average earnings, this is an attempt to strip out demographics and look at the theoretical life of one employee as they get wages. it is hotter than the official measure

the shanghai switching between positive and negative numbers today. still concerned about slowing growth down weighing into the equity market. elsewhere we're seeing a little bit of weakness in the region in jakarta. it's flat there. the high exaround a quarter of 1%, the semiconductor industry the biggest industry on that market. for the coz pi this -- kospi despite a weaker juan. new zealand is up for an eighth session in a row. the longest winning streak since november of last year. you can see that most of the losses are coming through for commodity prices. il and gas down .7%. metal all you will -- also weighing heavily. a mixed picture here in the region this morning. rishaad: thank you. that breaking news just came out. low lenka holding -- sri lanka holding its deposit rates at 6%. we'll be looking at that but we're going to go to the sri lankan central bank. we're joined on the line. thanks so much for joining thus morning. the rationale, please? >> when we look at the economy overall, credit growth, domestic credit growth is still strong but

the shanghai composite up by over 3% as it matches up into the close. a lot of rallying from property and industrial stocks after the state council on saturday put on the website saying china is going to increase support for redevelopment -- shantytown redevelopment and lowering taxes and lowering, i guess stimulus efforts for people to get into the economy. goldenthe numbers from which is boosted, the sentiment here in asia. looking like the shanghai composite will close at a seven-week high as we finish out in a very solid session. thank you very much. that is what is happening in markets. here is what is happening in today show. will for sell, glencore sell. wake up to graczyk, to keep the eu in the european union. -- wake up to grexit -- brexit. the head of copper, rio tinto, said something does not stack up. ♪ jonathan: glencore has started a process to sell copper mines in chile and austria on top of the $10 billion the company said it would raise to cut the debt after commodity price slumped. blas andng in javier head of investment at cross bridg

playing the shanghai market is going to the casino.t: i have an interesting chart i have been looking at on capital flows in china. capital flows out of china area we put this together on the bloomberg. we trekked inflows through those. i should have put a zero line. outflows backting in 2011. they got steeper and steeper. is this one of the problems you think? are people losing faith? you had been preaching this it's too thousand nine. i think people started buying your argument straight off the bat. jim: i think china is a hot money problem and your chart is indicative of it. they unrolled the yuan depreciation project and had to backtrack. stephanie: why is that a hot money problem? if you look at the sheer volume of their population, many investors said once we can unlock that market, there is tremendous opportunity. those same investors have gotten burned in the last few months, but it does not necessarily change their outlook. about ouri'm talking singapore or western investors. shadow banking assets. yielding 12%-15%. 12%, and 6

stocks following lead from the u.s. shanghai index gaining more than a percent. hang seng up half a percent. kospi korea up about half a percent. >> let's look what is going on here in europe. don't forget the fed minutes yesterday. fed not likely to raise rates too fast here. we're seeing gains across the board.

in chie narks the shanghai added .1% and extended the winning streak to a fourth day. investors booked profits, but others bought on hopes of stimulus as the communism par is underway. taiwan retreated from yesterday's close in highest in three months. manufacturers sold ahead of earnings results from tech giant, apple. hong kong rebounded .1%, and singapore snapped four days of gain down 1%. mumbai stretched losses to a second day falling .4%. here's a look at the other business stories we are following. >>> prices of corporate services in japan rose 0.6% in september from a year earlier, the 27th straight monthly increase. the officials at the bank of japan say the reason for the rise is growing number of tourists from home and abroad pushed up hotel charges. the health, labor, and welfare ministry white paper estimates the number of people in japan falls to 87 million people by 206. officials estimate 40% of them will be 65 or over. they say there should be better support for pregnant women and those raising children. >>> japan is being hit by many more typhoons tha

the first decile of the shanghai composite down 9%. 13 times forward earnings on a medium basis. t the small cap, 10 decile. rishaad: tell me what a decile is. tim: 10%. at 33% forward earnings. this is counterintuitive. you would think that with state support the larger caps would have outperformed and they happened. there are many sectors that are now trading below world benchmarks. what other approaches are there when you want to look at valuation? tim: a couple of standouts for us. what is taking those multiples and comparing them to grow. on ah expectations bottom-up basis are still quite high for chinese companies. p/e to growth, you actually have china looking more interesting. another way to look at this is on this chart. the market cap to relative gdp. we have this huge spike in we have pulled back below the long-term average at about .5 times forward earnings. this compares that same graphic to the world and the u.s. current trend. we're back to long-term average. we have very high to more normal. rishaad: i want you to change your hand and put your gaming hand on. visit

the shanghai composite rising half a percent. it touched a two-month high already. it also surge to a two-month high earlier today. the nikkei closed at 7/10 of a percent higher. it got an early boost by exporters after the yen weakened on friday. today, strengthening slightly. the auction -- austrian index unchanged at the moment. a massive ipoh on taking place in japan. the government is expecting to raise $12 billion from privatizing holdings and financial units. we are hearing from a source saying that japan post shares will be priced at or near the range, ¥1100rket to ¥1400. hearing at the moment that it was priced at the top in depth that range. that would be around ¥1400. breaking news at the moment. it's not going to give the government $12 billion in privatizing japan post and its financial units. other movers i want to take you through in asia, sony, toshiba. sony is in talks with toshiba to buy their image sensor business. both up more than 2.5%. shipbuilders with the biggest a kleiner's today. afterg more than 3% nippon -- on the foreign the koreanrkets,

broadly speaking, we have been seeing the hang seng and shanghai composite. should be erasing some of the earlier losses along the asia-pacific benchmarks. on acrossback later markets and assets as well. back to you. rishaad: thank you. we will be visiting and revisiting that story later in the program. tweet us your thoughts. let's have a look at the stories we're watching right now. we are looking at the massive tech tie up. here is shery. shery: the biggest tech deal ever. agreeing to buy emc which is worth $67 million and will involve 24 sharing cash and new tracking stock. michael dell and long-term partners's over leak will be funding. dell will at about $50 billion to its debt load as it seeks to fend off hp, amazon and others. the computer maker is already carrying $11 billion in debt. the deal will broaden its product lineup and may appease activists and investors looking for more growth. the deal will combine emc's devices like stored data and dell's number two position in servers. notces say sab miller does see the latest takeover as compelling eno

you are seeing the shanghai composite advancing 1% as well. will we are seeing generally in other markets across the region. continuing its performance up 1.25%. today, the debut of china's reinsurance. a competitive space there. 2.6%, $2.77, it was in the premarket. nice again. ipo to $2.70. china reinsurance dominant nationally in china. that is what investors are watching. this ipl is what we will be well -- will be following throughout the day. rishaad: going to get to that trading day. how does this stack up? zeb was just pointing out that there is competition from international and local peers? >> it is actually priced in line with the peers. in terms of the size of the business, is definitely asia's largest, china's largest, and also the eighth largest in the world. what is interesting is that they are clearly focusing domestic markets but trying to branch out. focus,: what is the where kevin grow? -- where can and grow? steven: the american markets might not be on the radar at the moment because they have 20 of stuff to play around with

. >>> plus in sport, a shot for roger federer at the shanghai masters. on the that later in the program. ♪ >>> afghan forces are battling the taliban in several areas, two weeks after fighters captured kunduz for three days. both sides have exchanged fire. many people living in the area are trying to leave. the taliban has also blocked the main highway. jennifer glass has more. >> reporter: the taliban are now fighting on two areas on the main highway that links afghanistan's major cities. they control two parts of highway 1. fighting started overnight monday in one province where taliban took many check points along the road, attack check points at several parts along that road. there are motorists stranded in that part. and further north the taliban holding much of that road, as many as 200 bus loads of people stranded there. women and children among them. eyewitnesss say that the taliban not only have destroyed parts of the road, but they have planted roadside mines and bombs along that major highway, and things are very tense in gazny city right now.

the shanghai market trading on a positive note.e a look at what is driving sentiment. >> it seems that china's investors have come back from this break on a buying spree. we are seeing the shanghai composite up by nearly 3%. lifting the overall region which is higher for a seventh consecutive session. we have seen on markets since april. a couple of reasons than we are seeing this big positive movement coming through in china, i will show you every center is moving higher.

the shanghai composite. this rally to route pattern we seen continues. consumer spending fees housing all of this coming together to contribute to the rally to route the narrative. the next two months look like a going to be very interesting. angie: the name of the game this year and likely next. the imf has wrapped up its annual meeting with china. another major talking point was the fed. the rate hike this year is still on the table. ?ho is saying what here analyst mostto one of them have to start talking about the rate hike this year's something because the market is counting on it not happen. spelling out the reasons why most officials including himself are of the view that a rate hike -- a rate hike is warranted before the end of the year. we do not currently anticipate this recent developments on the u.s. economy will prove to be large enough to have a significant effect on the past the policies. he also talked about the jobs report. knowledged overall very good. he talked about this. it does on include other things there and usually more people wor

the shanghai composite off 3.5%. now really before lunchtime this market was up just slightly and then down just about .5% so we're seeing a major sell off in just the later hours of trade. some concerns we have been hearing about capex were the large industrials but also some of the securities firms taking a hit in the trading day there as well and keep in mind in that hong kong exchange is closed for the holiday. i want a look at the nikkei 225 because we got data out of japan showing worries about growth with export growth slowing far more than expected and some due to a downturn in exports but that's spurring hopes of bank of japan easing. >> i'm just looking at flashes we're getting through on the wires with regard to the latest ruling on starbucks and essentially the eu has now ruld that the deals are illegal. there was speculation that it should come. that was the finding. they're also coming through with various fines as well and they're fining both starbucks and fiat between 20 and 30 million. so unpaid taxes

let's talk about the pboc, they're saying the shanghai free trade is going to trial. e yuan capital convertibility they said it will expand across use all according to a plan to promote financial opening, they're using this as a trial area. yvonne man has the details on what is been happening in the asian trading session. d morning, a mixed picture, but the ending on a good friday. at governor just to speaking his press conference right now talking about staying put on policy. they did delay that's 2% inflation target by six months. is it a big reason was the oil prices, and the low energy prices they said that it was a big culprit in why inflation expectations have not changed much. they said that could exclude fresh food energies. rises,e seeing long-term and inflation is picking up. energy prices are really dragging down cpi. he also said no specific culprit at this meeting, and they don't see that there are limits to any further action. kuroda saying he will add more easing without hesitation if necessary. so, easing wise we might see more of it. dollar/yen is back

in china, the shanghai surged in the time trading hour rebounding more than 1% to a two month high. some investors pinned hopes on government stimulus measures ahead of a key policy meeting starting next week. hong kong slid.had% after three days of gains, shares sold on profit taking before the holiday. the jakarda gained .5% stretching to a fourth day, and sydney shed .65%, mining shares sold on concerns over slow downs in china. and seoul added .5% leading in electron ics and pharmaceutical shares. >>> here's a look at the other stories. >>> sales at more than 200 shops nationwide last month reach over $3.7 billion, up 1.8% from a year ago and marks the sixth straight monthly rise. the officials say foreign shoppers in particular went on a buying spree. domestic shipments of home appliances in japan last month rose by 3% year on year due to strong sales of high end goods like air conditioners and refrigerators. looking ahead, they predict shipments in object are no less than the level from a year earlier. >>> that's all for business ne. i'll leave you with the markets. >>> repres

a lot of focus will be on china after volatility we saw in the shanghai composite yesterday. the index posted the biggest loss in five weeks. all eyes on how chinese markets open in about an hour and that is why we should put japanese equities back on the radar. another focus will be the policy meeting scheduled later today. the euro hoz a has been rising so this reflects that more market players are not equixpecg easing. >> speaking of the euro give us current levels ahead of the policy meeting. >> the euro is holding pretty steady. one dealer said it will probably face limited gains if the ecb holds off this time. this is because ecb officials have been talking the euro down. even if ecb refrains sort of pricing in some action at the meeting in december. the euro is around 1.1342. dollar/yen around 119.86. back over to you. >> we will keep an eye on the china markets. reporting for us live from the tokyo stock exchange. >> opening its own restaurant in london offering wagyu beef dishes. a pre-opening ceremony held in an upscale district on wednesday. the menu will include ja

very healthy gains, given the abysmal summer. shanghaiil and gas pulled back somewhat. is on fire today, the nikkei to do five bouncing. we have been watching telecommunications shares -- they have been leading the way across asia today, and some of the heavy industry stocks are up a in the session -- broad-based rally across the asia-pacific. this is all we have in hong kong. sinopec advancing 3%. we did see oil stocks selling off, registering the biggest losses in energy and material companies. but now you see with those losses, buying activity, that is why sinopec leaveds the way. other shares remain under pressure. i want to bring you up to speed there ises, because speculation that china's big three airlines, air china among them, china southern and china eastern, it may come together in semi-, perhaps the merger of their cargo units, one, two, or all of their passenger divisions. that would create a mega airline, with the fleet similar to what you see in united. we initially saw the shares up 10% overnight in new york. yesterday, a

measures were the communism key policy meeting next week. shanghai rebunded to a two month high with all sectors adding gains, rising for a fourth straight week. kospi advanced 0.9%, and upbeat figures lifted the index. sydney reached 1.6% for a two month high, and officials are working to hint the 2% inflation target around the first half of next mifiscal year. they are expressing views that monetary policy alone may not be enough to reach that goal. aso's remarks came ahead of a boj policy meeting next week. >> translator: a sharp decline in crude oil prices has created a difficult situation for achieving inflation target. i think what monetary policy can do is limited. >> aso indicated that companies need to raise wages and boost investment. japan is reviewing how to test car emissions follow revelations that volkswagen used illegal software to cheat on tests. up to 11 million vw vehicles around the world are reportedly fitted with the software. the environment ministries say they will set up a pam of experts to review this testing system. they sa

the shanghai added 0.2% stretching the winning streak to a fifth day hoping for further stimulus measures boost sentiments. the weak data from china pushed down other markets in the region, and hong kong slid .5%, and banking and energy relat shares dragged down the index. indonesia tumbled 3% on profit taking from a six day rally. singapore retreated more than 1.5% after recovering the key 3,000 mark for the first time in nearly two months on monday. sydney extended losses on lower commodity prices. prime minister abe vowed to shake things up to help japan reach an ambitious economic target. he says he'll make it easier for firms to invest in staff and equipment in order to expand gdp to $5 trillion. abe addressed a meeting of japan's economic revitalization task force setting up a panel for a dialogue between the government and private sector. >> translator: companies have been end joying record profits, so i would like them to invest actively and boldly in equipment, technology, and human resources. this is an investment in the future. >> panel members include industry leaders and expe

the opening in shanghai next year is going to be important for the stock as well. >> all right.crocket from fbr. thanks for joining us. >> thank you. >> when we come back, a lot more from tim cook on the possibility of an apple car and where he sees the auto market headed next. >> what i see is sulfur becomes an yeses leg important component of the car of the future. you see that autonomous driving becomes much more important in a huge way in the future. a lot of the major technologies in the car and shift and so it would seem like the -- there will be massive change in that industry. >> interesting talk last night. tim cook talking about the car, and we often call it the largest mobile device. we have a lot of innovation when it comes to self-driving and transmission. that's right. the dash, it's the same as it was almost, i don't know, ten years ago. >> largely the same. you have some touch screens now. satellite radio, et cetera. he went farther than any apple executive has in the past. >> when it's big in terms of the amount of change coming to that category, where they can

in china, the shanghai gained nearly .4% awaiting the outcome of a communism party meeting. the possibility of a fed rate hike in december hit hard on benchmarks in the region. jsx plunged 3% for a flee week low. hong kong was dragged down by shares in the financial sector, and singapore dipped to the lowest close in two weeks, sydney dictatorsh sydney dipped 1.3% extending losses for a fourth straight day. >>> here's other stories we are watching. sony made their first mid year operating profit in two years for $1.5 billion in the april-september period. they credit sensors, cameras, and video game consuls. another big japanese electronics firm did well over the same period. panasonic up more than 37% from a year ago. their executives say security cameras and home appliances were among the big sellers. >> samsung had strong figures to report too. the operating profits in the july-september quarter were up 80% from a year earlier, first increase in a quarter. they say the semiconductor business and weaker juan helped. >>> halloween is around the corner, and americans and eur

in china, the shanghai composite gained 1.3% speculating the chinese government may take stimulus measures soon. index rose more than 4% this week. sydney's s&p asx 200 index rose 1.3%, five straight sessions of gains, ending at the highest level since august, marking a weekly gain of 4.5%. hong kong up 0.4%, the strongest gain in six months. the mumbai gained .8%, and taiwan was closed for holidays. here's a look at the other stories we're following. >>> japan's foreign minister will visit iran this weekend together with representatives of about 20 japanese firms. he is expected to sign a bilateral investment deal. the agreement will ensure japanese firms enjoy equal treatment with iranian businesses and appropriate legal protections. japan's store chain reported mixed reports in half year earnings. those popular with foreign shoppers enjoyed good business, and retailing say profits rose by double digits. the profits sogo and seibu fell 36% as they were not strong enough to make up for business in women's clothing and other items. >> born in japan and spread across the planet with passion

the shanghai composite fell at 0.14% to 3386. some investors booked profits after the index touched a two month high. >>> indonesian stocks outperformed the region. jakarta composite gained more than 1%. banking shares pushed up the index. some moved out of negative territory. mumbai ended up by almost .6 of a percent. >>> and here's a look at some of the other business stories we're following. >>> japanese beverage firm is ending its joint venture with tsingtao brewery. growth stalled in the competitive chinese beer market. suntory will sell totsingtao. >>> a japanese panel began gating the fare structure for mobile phones. households pay an average of $16 per year. president abe asked to find ways to bring fares down. the panel plans to compile a report by tend of this year. >>> that's it for business news. i'll leave you with the markets. >>> sloppy construction work is causing concern on condominium residents. data on the pilings supporting the structure was fabricated. workers at the condo complex began making preparations fo

the week. but a bit wet also with a high of 15, 21 in tokyo, and wet weather in shanghai. chilly in beijing, 12 degrees and sun thursday. as we look at the forecast for north america, you see the clouds spinning from the central portions of canada through the northeast, that's a couple of low pressure systems. one from the remanent of patricia and another low from canada. those two forcing a lot of rainfall. northeast with 70 millimeters of rainfall in 24 hours and gusts up to 27 kilometers per hour as the low intensifies, that drives up the winds. it's a bet wet here from toronto to atlanta. have the umbrella handy through wednesday. a quick look at the halloween forecast here coming up on saturday. looking like we're going to see a relatively dry day for some of the more spookier locations in terms of the halloween forecast. now, quick look at what's happening in europe, thunderstorms down in the south, and as a low pressure system and cold front sweeps through western portions of europe as we go through wednesday. please, be careful with the storms. have a good day where

tim, what is the free trade zone in shanghai? prada storehe and the chanel store put together? the shanghai free-trade zone is an experiment that was out some time ago, back quarters ago, and there have been various experiments that have been put in place through the free-trade zone, a lot of them financial reform, and the issue that came out today was a nod that they will allow domestic investors to have more freedom to buy overseas assets. funny as it is, if you think about that, in and of itself, that was just more outflow, which would be negative for the yuan, but the idea is this is all part of financial reform, currency reform, which gives the ,mf reason to put it in the fcr which will create more demand for the yuan. a dumbt me ask you question for friday morning, and you are into saturday in china. has there d valuation been successful? the devaluation has been a long-term managed weakening. if you go back to where this started a couple of months ago, it is only 1.9%. backwardsce rallied 1.9. it has been marginal at most. we think over the course of the next several yea

in china, the shanghai composite jumped 2.3% jumping to the 3300 level in two months. expectations of more government stimulus measures provided a positive sentiment. kospi closed 1.2% to close at the highest level in more tn two months after the bank of korea is keeping interest rates up changed. hong kong index gain 2% led by casino operators, and indonesia ended up just over .5%. >>> japanese farmers call for measures to protect domestic agriculture. they made the appeal at a national convention of local farm cooperatives. their request comes after the agreement was reached on the transpacific partnership free trade deal. >> translator: farmers are worried. we need sustainable measures to protect domestic agriculture. the government must enact relevant laws and implement budgets to achieve that. >> japanese prime minister abe attended the meeting stressing the agreement is the best result for japan and will contribute to national interests. >> translator: the tpp agreement is a chance to promote many different japanese products overseas. the government, as a whole,

in china, the shanghai tumbled 3% to close at 3320. that's the biggest one-day fall in five weeks. investors took profits following a two month high on tuesday. profit taking also dragged down taiwan stocks. the taiex retreated .5%. seoul added 0 .2%, and the jakarta stretched gains to a fifth straight day, and mumbai is down by 0.07%, just by a fraction ahead of a national holiday thursday. markets in hong kong were closed for a holiday. government officials have announced japan will abolish tariffs on 95% of imported good as part of the tpp. other tpp countries like canada, mexico, and peru, the u.s., australia, and malaysia have gone further, abolishing tariffs an almost all imports. however, in japan, some sectors harbor concerns about the tpp. nhk world has more. >> reporter: japan defended its interests during the tpp negotiations. >> reporter: addressing such concerns, mthe minister stresse the tpp deal is in japan's best interest. a government task force held the first public briefing on the tpp tuesday. many participants asked for government majors to protect japan's farmi

by -- it simply helps the case. shanghai international finance center. have to float the currency for the yuan to be treated as a global reserve currency. not just recognized but also treat in a sene you allocate part --in in a sense you allocate part of it. angie: when it does open its capital account, it has got to be ready for the yuan to behave more badly here. david: let the market determine where the yuan goes. i m ean, we have a great graphics. you look at the daily percentage change in the yuan. it is already not surprising -- you still have 2% trading. so, this is over 10 years. i mean, the world went nuts over this. just under 2%. have a look at the japanese yen or the euro. shall we get the next one up, please? the japanese yen. i'm in, it exceeds that -- i mean, it exceeds that on a regular basis. so much so that the chart is that 6%. very quickly have a look at the euro as well. you do see a lot of the tremors more pronounced here. compared to the chinese currency. angie: that is a great chart to show what happens in china. thank you so much