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tv   First Up With Angie Lau  Bloomberg  December 20, 2015 6:00pm-8:01pm EST

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angie: on the rebound. oil will rise again. prices are hurting producers. india patterns china and at the imf protecting their growing economic role. much ado about nothing. plans toank of japan buy something that doesn't this. welcome to first up.
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take it, markets in asia monday morning. us trillion dollars down let's head over to new zealand. also down. we have a slightly stronger qe. we're counting down the openings in japan and korea. last giveaway all those names after the deal day extended the term of maturities to 12 years. back down.t all away slightly'slanes was -- slightly lower open. we begin this monday morning with china's largest homebuilder with the takeover bid.
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it was suspended last week and now to three heading towards a showdown the largest investors. what do we have here? drama indeed. the largest shareholder is not welcomed by the company coming in with a hostile takeover. and ishe revamped way the deadline -- january 18 of the deadline. the company says it will not week another extension. that may be a counterattack. they face the hostile takeover on fridayhe company that said it does not welcomed them. credibilityy lack and have a negative impact on the credit rating. we will see what kind of plan that will announce to perhaps
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allay some of these concerns among shareholders area did interesting to see that this is a major property developer in china in the world's largest listed property developer. no small potatoes and one we need to watch very closely. angie: what's next? zeb: will be critical. obviously there's a lot of speculation unpalatable latest. the corporate raider affairs. hostile takeovers are rare in china at least in public you. the fact that this is spilled over into the public realm is grounds for a lot of speculation. reputationote good of the law. sunday they said it will not seek an extension again within three. for the purpose of asset restructuring, there may be a third army that comes in here
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more to their liking. angie: thanks. u.s. lawmakers have approved changes with the imf. we will give china and india a greater stay. run through the changes. >> this has been five years in the making. thatis actually 2010 plan the house and senate finally signed off on. president obama also signed. that means it's going to give a greater voting share to the economies and double the amount of funding. it also paves the way for the imf began another round of changes. that review could actually come as soon as january. with a look at the house structure we can see the china apparently have most amount of voting shares. we know the u.s.'s first.
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the 11th atndia has 188. plan, itt the 2010 means china will live into the third region. how important it is in the global economy, india moving up to a. we are jumping forward by 2/10. this will significantly change emerging-market. let's why is it taken so long? >> is a lot of criticism of the u.s. administration. the plan was basically flooded in 2010. -- floated in 2010. there was too much influence are emerging economies. they said you can't ignore us. securely china and india.
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it moved legitimacy if they didn't start to listen to them. it's taken a while for the u.s. house and senate to get along but the president was always a fan. it may actually help china develop the infrastructure investment bank. they're been swings and roundabouts to get this across the line, and the interim you another all. angie: thank you so much. you can get more on that in the day top stories that are digital also onion area a 35-year-old tax on foreign investment. was google top search terms of the year reveal asia's web to. headlines, ar
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meeting of arab oil nations ended. iraq says it will rebound. adel abdul mahdi did not say theythat would happen, have slumped about 35% this year. south korea has been given a rating. dayincreased by one level the the first time getting second highest-ranking. the rating upgrade the south korea a step above china and to love japan. monday vehicle sales estimates for the first time to fall less than the projected 5 million vehicles.
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analysts we survey of that's unlikely. monday is also competing with one thing currencies. about 5% higher than the previous software. 70% ofl about china by it with the option of picking up the rest later. the board is expected to vote on the deal by the in the year. we will see the biggest ever acquisition in china. the bank of japan caused a stir in the markets on friday. some of which were kind of hard to understand. not with that kind of adjust the
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news, turns out it's much ado about nothing. certainly of the investors thought it was something. quite it was something that needed more leaning. it didn't seem that they were adding to it. he should have been able to make it more clear, in the end you what happened to bond yield, they fell apart. yet without having to do so you are across the board. one of the things put in place was the they were extending the average. from 10 to maximum of 12 years. he admitted during the press that it was technical
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and hard to understand. it is not an expansion of rather fine-tuning. >> our decision has not taken a response to any negative outlook or potential risk. it is not an expansion up to keeley, but merely a smooth extension of monetary policy. the other path that was initially confused some was the ban on buying bonds. the new sort of facets to this bond buying program.
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the problem there is that the easier they want to buy and said we want to buy etf's, track companies that make investment. actively make investment. the problem is there are none of the time. one that ismilar capital. anytime that will be buying the. the second issue is that the doj book is their money on a specific way company. again, it is their way of using their cash.
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we mostly been. >> certainly very quickly back scandal. think we were down 2% at the end. angie: thanks for that. coming up, not that that the is through democrats are turning their attention. a withalk about that minutes next.
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angie: 27 people are still after ated for landslide in champlin. seven people were found alive. sticky visa to buildings were workers the tories.
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my came from construction work nearby. beijing remains of the red alert this morning. the blanket of small covers a vast area of eastern china and is not declared tuesday. reachedices of levels 323 this morning. and could hitous 500 later. that would be 20 times the internationally agreed limit. it taken vehicles off the road. voters have deserted the two main parties. claimed thenister most seats but lost more than a third of its support. the socialist came second.
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the election came a time of growing apathy with traditional politics. time now for a look at the stories will be following in asia's. tuesday, modi and lost out. -- modi in moscow. in recent months, he had altered relations with the u.s. and japan. releasetuesday, nike and quarter earnings. seo china factors in those results after futures orders there moved 27%. talked ejections. another check on their help on friday. last month, the unemployment rate fell more since 1995.
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the deadline has been extended until the end of march 2017. on friday presidential candidates and taiwan of four televised addresses. elections are and taiwan on january 15. let's see what investors should be watching the week. do you think it's all about the as. economic and -- data? the world tries to focus, how many can we expect to see? how important is all this? there is a leading economy
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and it's important to follow for example we think great heights on the aggressive side are contentious for sure. hikesood to see the rate in the confirmation that the u.s. recovery is on par. .hen again we also suggest we actually like to be more in those areas. it loose monetary policies. it's some degree of japan. the only thing we need to watch. angie: europe are with japan, the way us -- what you think >> ithey did last week?
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think the church do something with good intentions. maybe the market was a bit confused, but the bottom line is we do not think is the final word from the doj. to the extent that they are also trying to target companies that's our online with a modest approach. or the don't have good used for wes pick up the shareholder, indeed focus on the company to do that. that is the market was on friday. >> probably time to entrench your position and by all the jets.
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fed,is is a version of the where else you think we stimulus? what we will soon the fiscal side only asian region maybe with the exception of thailand that most of the asian central rate nextto -- cut year. doesn't that inflation -- when it comes from energy that does not negate that will be in a position to do it further. asia is broad-based. what do you think market sentiment is going to be in asia?
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how would your position or why? coming from the top line, i don't think the more positive since the amount of it. however, i am actually quite instructive. companies inlarge the embassy. it traced upon the. consequently finally. gdp growth was higher in the region that arnie. we could see 2016 is the first year when the two merging again.
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that's limiting distance, i think story until the. we'll be monitoring that then. up, the dubious honor of reclaiming the title is the worst performing currency.
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angie: sheldon adelson sisi expect mccown to recover.
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he believes the worst of the fund will be over by the time is a region opens in 10 months. i think it will rebound gradually. as i said earlier, the biggest catalysts for significantly rove will be next year. let's go live right now. i'll battle of the for bad youa? >> it will be go with what they're predicting.
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that's twice as much as the blanket. appear at about 15,000. indonesia is pretty much reliance on commodity x boards. the fed rate hike prompting capital. enough, theirot fallen 10% this year. that will limit the ability. suffice to say investors are not liking it.
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angie: we have the president boosting efforts to boost growth, will it work? by the confident it is going to >> you revamped his government in august. workers.ons on foreign also expected next year it takes time for these measures to pay off. remember not too long ago promise to boost growth to 7%.
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angie: coming up we will bring you the latest on what could be the biggest ever a cover by a chinese company.
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angie: looks like we're going to we saw on rally friday. a stronger yen is going to take hold. 30 minutes away from the opening. you are watching first up. ♪ the top story, and showed with its biggest stockholder.
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the bank leadership says it is facing a hostile takeover and doesn't look the new investor or its affiliates. the company plans to release details of a restructuring plan by january. china and india are to have more say after u.s. lawmakers approved changes. moreing markets will have influence over oversight. china is currently the fundus sixth's largest shareholders. a with india clotting to eight from 11. the bank of japan has new plans. buy 2.5 lien dollars of etf's based on the
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spending program. such a thing has never appeared in japan. the doj will backed government equity measures. investor says the whole -- investors in whole thing is hard to it that hard to digest. checking in on markets in asia, let's get to it. australia swinging between gains and losses. fractionally higher. zealand we saw losses at the beginning of the session but now it has someone -- it's long into gains. at 67 u.s. cents. counting down to the open in japan and korea, we have the yen holding on to its safety gains. 121.r yen is at
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futures pointing to a lower open. prices will recover. in crude been trading near a seven-year low. will rebound because it is too low and that is hurting producers. david has been taking a look into this for us. wasn't that the entire intention of having low crude oil? >> as you mentioned it was a countries,exporting 11 country clubs, seven of which are members. these are pictures from the weekend. optimism that oil prices will rebound. there is no doubt that oil prices will rebound, it is hurting or affecting oil producers.
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specify when that would happen. it comes from the comments from his counterpart. you look at how market moves on the weekend. oil prices are at seven-year lows. are at 3466 for create. here is where it is trading. convinced of the turning point because it is rhetoric. >> what about the rest of this week? will could impact oil? two important pieces of data, first is exports out of saudi arabia.
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october was the data. i think it is about 350,000 more than september. then you had the surprise uptick in the active number of rig counts in the u.s.. thatnk we got 17 more became inactive that is how it looks over five years. . accordingid, thanks to bloomberg sources, china's initial $42 billion -- $42 billion bid was rejected. --would be the largest largest ever acquisition by chinese company. we have all the details here.
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>> it is offering to buy 70% of the company and an option to purchase the rest later. about $472 per share, which would give a fair market value. this would allow china to fully take over. we are hearing the talks are advanced, but there is no guarantee a deal will be completed. another company made a bit earlier this year. the company suggested that it is still talking, they are thinking of putting in another offer. there is absolutely no guarantee or indication that the deal will go ahead this time. is -- why are they so
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interested? nta is a leader in genetically modified organisms. they are interested in developing that field. only 12% of revenues come from agriculture. developing biotech. by xi jinping as early as last year. chinese company should prevent foreign countries from dominating the field. this will allow them to some eyeslegal that in some leapfrog the developing process and acquire that knowledge. throughword is security, is china's publishing ever in need of crops and food and it also requires more crops to feed the animals as well.
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this is one way for a chinese company to move forward in field. corn only gives half of what the u.s. yields. that is a key reason why china is interested. >> time for some of the corporate stories on the bloomberg terminal. here's juliet. the brazilian assets have been frozen by a judge following last month's collapse of entitlements debt. the judge said some mark a unable to play for the damage by the disaster, which left hundreds homeless, and polluted surrounding border ways. the brazilian government is seeking $5 billion in damages. dropped an investigation into -- investigation into cracked lcd
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panels. no action letters were sent to a string of producers at the end of last week did sources say toshiba, samsung, and epson are among those involved. amazon is considering plans to release boeing 767's against delivery and costs. large orders around christmas. last week the seattle times reported amazon is testing its own delivery service those were the top corporate headlines. >> the birthplace of a small company known as broken hill proprietary.
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with mineral wealth running out they are going green. bloomberg goes for a look around. >> is a 52 megawatt project. projects. largest to about nine to 12 months to construct and had the project valued with $450 million. they have a long and storied history associate with mining as a function of what is happening in that history. there has been a paring down of job opportunities in community growth. this sick fantastic opportunity to embrace a new industry. had 100 to 200 jobs created during a construction period.
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now the operational presence will be much less. we are starting to see a very proactive reach out from a thatr of agencies previously weren't as well theorted, if you can all factors you need come australia's is number two on the list globally. there are so many reasons why largest -- why large-scale solar should be continued in. it has been policy constraints, policy uncertainty. rightsconfident with the -- with the right private sector commitment we will be off to the races in australia. >> bloomberg news asia energy reporter james payton has visited the broken hill solar farm. ist kind of transition happening in broken hill right now? how that fit into what is happening nationally?
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>> broken hill is a very interesting place. been digging silver, lead, and zinc. it is the birthplace of the come to that went on to be the biggest player in the global mining industry. now it has another distinction. it is home to the largest dish -- it is seen as the largest of its kind in the southern hemisphere, cost $440 million to develop. roque and hill is much like australia. it is a large mining company that is dependent on minerals and natural resources via and now a country is turning to the
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sun and tapping a very different kind of resource. >> why a so important? as you said there is a lot it stake here. governmentg to the it has the highest levels of solar radiation anywhere. has largely failed to fulfill that potential and efforts to stimulate investment in that sector haven't gained much traction in recent years. australia by one measure is leading the world in installing rooftop solar panels. when it comes to utility scale, we really lagged. we are behind 19 other countries.
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there are now some positive signs the sector does have some momentum. the broader significance comes after the landmark climate change. australia is joining countries across the world and moving more aggressively to curb emissions in solar, among the solutions to cutting pollution and could help australia when it is under pressure to do so. >> what can we expect in the future from australia? >> most people see it as a growth story, the large-scale solar industry. bloomberg estimates capacity could grow by 15 times over the next five or six years. that is going to be driven by the nation's renewable energy
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target. aiming to get about a quarter of its electricity from clean energy sources by 2020. proposals for new 20%ects are at least cheaper than the projects that were just built. then you heard from jack curtis who said they are keen to develop more large projects in australia. there are a lot of encouraging signs. there are significant hurdles for the industry to overcome. theseupplying the market need to exit to make a room for large renewable energy projects in australia. so before they can really achieve any stellar results, they have to clear those hurdles.
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>> being able to execute is another. thank you so much for that. the long game on commodities. our next guest says the market is still working out where to go. we will ask them why.
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the u.s. military says two b-52 bombers did not fly over disputed man-made islands after beijing accused washington of a serious military provocation. china has launched a formal protest. not antagon says it was freedom of navigation exercise. past waters that are claimed by china in several southeast asian countries. peoplere fading for 80 on the island during the
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weekend. rescue officials say the fiberglass boat was carrying 122 people when it was hitting that's what was hit with a storm. the cost of staging the tokyo olympics may have blown out to six times the estimate. officials say sewing costs are , particularly to counterterrorism measures. let's check in on the commodity sector. the market is still trying to figure out what to do. is the us from sydney alliance securities. >> there's a lot of volatility at the moment, no doubt as we approach those in new lows.
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if i am a consumer of oil i may put a hedge on here. oil market has hit a lot of negative news over the last year or so. i think it is just about coming to an end. do you see 2016 going on only for commodities but for global markets? >> i'm more inclined to think we got to look positively into 2016. the fed gave me a sense of being very comfortable with domestic in the u.s.. when it comes to the domestic side, how about the external side? that is where we are going to find a more focus from the fed in terms of how do they export -- how do they support their
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export markets? when we saw that the appeal on the weekend that on the week in? that gives me confidence they want their export markets to pick up. >> for these prices it is going to be tough for u.s. producers, won't it? >> absolutely. you have to question why they made that decision. at the end of the day, when you look at the supply and the recounts, there is a lot of in terms of more supply, or are they comfortable with the direction the economy is taking, and how they wish to present their exports? they feel at the end of the day what is more important is market share.
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i think the yields will suggest the economy is moving. >> it is in step with what the fed has as well for the u.s. economy did does that mean we will see rate hikes next year? is the we haven't seen falling commodity prices actually filtering through the price pressures on the top side. that is something we have to get ready to look for. the bank of england is set to increase its rates. as we get used to this cyclical change, we have to get -- we have to question why they are doing that. once the economy starts to pick up it will filter through to
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higher prices. those will test the top end of the bands of the central bank is always concerned about. let's see how it actually works for those price pressures. it is demand and supply. a big part of that is china. ore and you see iron copper enron materials in 2016? >> i have been able on copper for some time. i seea sense when exporter records and iron ore. he see the resource sector of those stocks are under a lot of pressure and copper hasn't moved, it does give me a sense we are at this balance for copper, albeit in a relatively wide range.
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remember we did get some relatively encouraging housing out of china -- housing data out of china. once we get through this year it should be quite positive. >> thank you for that out of sydney. we do have confirmation that willba's board meeting take place to discuss restructuring measures. that is expected to take place today. expect a large loss when it keeps you apprised of all of that. we will bring you more as we get it. back in two.
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>> let's get to it. >> a japanese travel agency, it says it will oversee packaging tours. it will buy back 3.1% of shares
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expectingillion, popular stock today. suzuki has given its shareholders its first wholly-owned mine in india. this time around it will be able to invest directly. this is quite a big market. >> we are talking radio, radio equipment. it makes radio gear. we are not talking about radio broadcasting or communications equipment. this stock is up 12% so far. it is going to be fun to watch. >> our reporters highlight news events. back to see how the stocks are
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done. we have china's largest homebuilder heading for a showdown with its biggest investor. all >> on the rebound.
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low prices are hurting producers. china and india win more say at the imf, reflecting global influence. looking to reclaim the title of asia's worst performer. you angie lau coming to live from our asian headquarters right here in hong kong, streaming on mobile and
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largestith china's homebuilder and a possible hostile takeover bid. seems to be heading for a showdown with its largest invest your's. certainly something to watch as the market opens. >> this took the market by surprise on friday late last. the news that its largest shareholder was planning a hostile takeover, certainly one not welcome. shares are suspended. the company set to detail its revamp plan to at least delay this onslaught. is a group that up to its position in recent months. said this hostile
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takeover is unwelcome, the theany does not believe credibility and its affiliates are exactly where it should be. it could have a negative impact on credit ratings. after shares resumed trading, they will not seek another three months suspension. they may bring in a third party. interesting counteroffensive as staple bulk up their defenses against this hostile bid. we will watch how this plays out in the next you weeks. don't forget we have that that we will see you monday, basically setting this up for a corporate fight. on a posting saturday saying we will see you monday.
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it means they are likely to defend their position. this is the world's largest listed property company. very unusual to see these kinds of corporate stats play out in the public sphere as this one is an certainly will in the days to come. angie: will we see japanese stocks continue? david is here. >> three minutes into the open, japan is up 7/10 of 1%, fairly consistent with the mispricing in the future market. south korea getting a boost today, getting an upgrade.
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i'll check in on the bond markets and show you how this is all impacting the costs there. it is fairly mixed. when you have markets on the way down, that is going to pull everything down with it. the big story is we will be able to hear more about this. getting really hammered on the weekend. will get you more details on that in just a moment. have a look where we are. again, we saw a rally in the market. following comments that they're are planning to extend the average maturity on their balance sheet. 28 basis points. that is not open.
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expect a bit of an outflow. whether you are talking about the stock market for funds. indications that we may here he clear majority go. we are on the way down for basis upgrade itting an does seem a risk session at the moment. 7168 is your level there. japanese currency was thrown all over the place on friday. that is when it became fairly clear.
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back to you. >> checking other headlines for you right now, a meeting of recover.nd price will crude trading at a seven-year low. iswill rebound because it too low and hurting producers. france has slumped 35 percent this year, putting market share above price. the bank of japan has a new plan, buying something that doesn't exist. the bank will buy $2.5 billion of etf's. such a thing has never appeared in japan. the doj will buy etf's that track the equity measure for the time being. south korea has been giving a ratings boost.
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this is the first time it has been given the third-highest ranking from a major rating company. the economy will return to a trend growth of around 3%. two above japan. u.s. lawmakers have approved changes at the international monetary fund. they will reflect the rising influence and give china and india a greater say. here with what all the changes >> this is a 2010 plan, signed off by president the $1.1 trillion spending plan. also doubled the amount of permanent funding available to the international monetary fund. that will increase the voting share of the number of countries
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who say this is where the money should be going. place inhina in sixth terms of its voting shares. atia is at 11 and brazil is 14. this plan will see china jump from sixth place to third place. boost and brazil moving for spots higher. reflecting how important emerging markets are becoming on the global scheme. >> as you said, five years. why does it take so long? frot was a lot of to and saying this shift would have given too much influence two countries who do not have u.s. interests at heart. you have to look at the bigger picture.
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global scale, this has to reflect the international monetary fund. -- delay may help them to essential in these five years of tooling and fro in between lawmakers we have seen another big bank come through. really it is good to see all the global partners have a bigger say. >> let's check in on shares of toshiba. we are watching them plummet in tokyo as the board get set to meet restructuring -- meet for restructuring. the company is set to meet today to discuss restructuring measures. the company will make the announcement.
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right now extending those losses as we speak, close to 9% down right now. the sector selloff which is hurting equities. the implications of the oil slide one first up continues.
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angie: the u.s. military says two the 52 bombers did not fly over disputed man-made item that man-made islands after accusing washington of a serious military provocation. china has launched a formal protest, but the pentagon says it was not a freedom of navigation exercise. -- the u.s. sail past waters claimed by aisha. beijing remains on red alert.
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abe lincoln of smog is covering a vast area of eastern china. levels. embassy says reached 323 this morning. that is hazardous, currently above 25th -- above 250. it is marginally less bad than in beijing today. two a have deserted the parties with no clear government. the people's party last more than one third of its support. polls show the socialist in second, just ahead of the anti-austerity party with a liberal centrist. at a time ofcame growing apathy with traditional timeout -- time for a
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look at the stories we're going to be following. talks with president putin, part of the agenda will be the -- tog of an arms deal as counter china's growing influence in the region. we are going to be watching how china factors into those results after futures orders grew 27% last quarter, beating estimates for a 15% rise. future orders also topped projections at 26%. we will have a check on japan's economic health. last month the unemployment rate fell to the lowest since 1995. 1/10 of 1%. that is a long way away from the 2% goal. the deadline was extended until
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them and of march 2017. three presidential candidates give the first of four televised policy of dresses. trails in theate opinion poll. the contender will also seek the election on january 16. let's check in with evan lucas. what should we be watching? >> it is all about what is going around the oil price, around the commodity complex. a lot of people are still disclosed -- still discussing -- stillleary discussing clearly. fy 16, 17,owngraded 235 respectively.
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that is been the big story over the weekend. part andemains the key what goes into generating in february. towards the lows in 2008. all of that factors into a medium-term look. markets have a lot of questions to ask. what does it mean for those economies driven by oil? all that is what is playing into this. booksrs close out their and that volume disappears. and little positiveness in the asian trading session. push youf we were to
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-- >> if we were to push you off the session -- off the fence, side on?e which you's >> the market is starting to shift toward the idea that rate hikes are more likely than not. that puts the u.s. to the upside. oil is still having a supply side issue. the eia numbers shows that the u.s. has a record level of stockpiling. all that suggest the price is going to remain below 45 for the next three or four months. , opec continuing to squabble and there is more talk that they are going to increase sanctions on russia. all that suggest i more pessimistic on price area not very good for the economic side
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or her the nations heavily indebted tort oil and oil movement. >> if that is the case and the global economy gets a little bit pricesurt thanks to oil being so low, does the global economy then benefit? >> it could. we have to start looking at what is going on in china. there is a global push. you may get that tightening coming through it, which has been deep right spot. if that does start to see an impact and u.s. corporate to slow on the u.s. dollar. -- u.s. dollar, china's the next step. do they start to see demand picking up? manufacturing is impacted by the
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other side of european and japanese demand. in terms of what is happening on friday around their new way of stimulating the economy. i am pessimistic on global growth. the suggestion that it will grow at or below is unlikely. i think we are going to see another trend here in 2016. >> i'm going to ask to shake off that pessimism and see what you are optimistic about in terms of bullish trades for 2016? them i'm still very much positive on things like high-end manufacturing. that means particularly health care. clearly signs of strength when you are starting to see risk. andou look to germany france, manufacturing on the
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health side, they have done well. certainly bright spots on an equity front. i am fairly optimistic in terms of european movement. stimulus.more i am positive on the european equities. more so positive on the u.s. dollar, considering what is going on on that side. it will be an interesting year in 2016. hopefully i will be more upbeat than i am in this interview. >> thank you so much for joining us, that is evan lucas. next, why banks from london to hong kong are porting the yuan. details after the short break.
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>> welcome back. it is monday, december 21. let's start things off in spain. it is unlikely investors will be getting the clear result they wanted with no overall majority. a first crack at forming government, but it will have to be a coalition. centrists coming in fourth. a negative for spanish assets. the chinese you one stopped falling. we are looking at banks from , over $10to london billion worth this month alone.
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the retail market is drying up. markets open up your in a hong kong. three day jumped last week, 6.5% on the overnight rate there. three times what it is on shore. double a two. the third-highest ranking on the scale. expected to provide south korea with some coverage on weak external commands. good news. dollar-yen, when 2126.
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this one was tossed all around on friday. fairly quiet at the moment. south korean, nice upside there. down about 4/10 of 1%. what else are we seeing? about 1/5 of 1%. fairly -- let me wrap things up with the euro. with more clarity at the moment. europeople saying it is negative. when things open up, it is expected to take a tumble.
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if we do get a coalition, that is perceived to be negative here. those are driving your forward market. >> thank you, david. indonesia is expected to reclaim a dubious honor. let's go live to our southeast asia correspondent. is this a race to the bottom? >> it looks like it. it is never fun being at the bottom. now it will reclaim that position in 2016. drop through the end of next year, twice as much as the worst-performing in asia. about 15,000.see
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several reasons for that, falling commodity prices, pretty much relying on commodity exports. indonesian exports are getting hurt. prompting capital outflows from emerging comedies that emerging -- emerging companies. they have followed percent, the lowest level in korea. that means this little bank of -- should come under pressure again. it is going to be tougher indonesia. has boosteddent efforts to boost growth, what about that? time for the measures to bear fruit. he is even cutting taxes and spending.
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growth will dip before picking up. >> a cyber attack ahead of the elections, we will take a look what chinese copies be targeted by hackers.
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inie: it is 8:30 p.m. singapore and it looks like asian markets are falling. an hour from the open of trading there. you are watching first up. top stories. toshiba shares have tumbled around a percent in tokyo ahead of a board meeting on its restructuring plans. it is heading towards its lowest close since 2012. it is going to report a large loss. the net loss for the year could
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top a record $4 billion. shares are down. china's bank is heading towards a showdown with its biggest stockholder. the leadership is saying it is taking a hostile takeover and it does not welcome the new investor. the shares were suspended on friday. the company wants to release details of a restructuring plan by january. a seven-year low after rebounding -- keep pumping crude into a local -- a global glut. that was after a meeting of oil-producing nations. iraq's oil minister it says it will rebound and hurting producers. let us get more on that story. tell us more about what came out of that meeting. it was a meeting of the arab
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producers. prices a rack saying the are too low and they are set to rise. these ared qatar -- the gulf producers that are hurting the least when it comes to these low oil prices. tois in their best interest talk of the oil prices. if you look at venezuela and the other members of opec there, they are hurting a lot more. it is not unusual to see a rack and others in the gulf talking up the prospects of oil. beneficial,uld be certainly in their case at what other things should we be considering for oil this week. got the energy information data from the u.s. so we will get another read from the u.s. numbers. stockpiles and production last week.
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we saw an increase in production. oil is under pressure at the moment. , they've rose by the most since july. 17 rigs at the basin. we also had data over the weekend from germany showing saudi arabian exports in october were the highest in four months. any news on the fundamental front that shows supply is high or increasing will affect the price even more. at the moment, if you look at brent oil it is near a seven-year low. the wti, it is near a six-year low. angie: thanks for that. let us check in with how the asian markets are opening up this monday morning. here is david. to what we just talked about with oil prices, brent was up only twice, two .essions
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showing how depressed prices have become. and how depressed they can become. back to the equity markets. that is market so far firmly above water. 1978. australia is at a low. down for 10th of 1%. tense of 1%. we are down 1%. we were down over 1% on friday. when markets started to digest news that there was much i do about nothing coming from the boj. we are seeing a pullback there. money being taken out of japan. let us look at shares of toshiba. nadal -- is the level right now.
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drop since one-day 2011. report today from the nikkei that it could be posting a net loss of over ¥500 billion. that is over $4.1 billion. there is a meeting that will be held today come aboard meeting where they will be talking about restructuring measures. you could see more one-time losses coming. because of that restructuring. -- 328.46 a saying share. let me wrap things up. analysts are saying not to get anywhere near this stock. $90 a share. more on the lcd units.
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acquire sharp. nothing to confirm there. time now for a look at some of the top corporate stories. here is juliet. assetse: the brazilian have been frozen by a judge following last month collapse of a dam. own and iron ore mine. they have to pay for the damage caused by the disaster which killed 16 and left hundreds homeless and polluted waterways. the brazilian government is think -- is seeking $5 million in damages. price-fixing of lcd panels. no action letters were sent to a string of producers at the end of last week. toshiba, samsung are among those
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involved. the inquiry was looking at the small lcd panels used for handheld devices and mobile phones. sheldon adelson says he expects macau's hard-hit economy to start recovering next year. he said china is opening a 400 room saint regis hotel in the city. the worst of this slump will be over at the time his casino opens in 10 months. terms ofk macau in economy will level law if it hasn't already. i think itwill be -- will rebound gradually during the course of 2016. as i said earlier, the biggest catalyst for significant growth will be next year when the hong
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kong -- opens. juliette: those were the top corporate headlines this hour. china has gone back to singin with a sweetened takeover offer. bid wasial $42 billion rejected last month. if it is accepted it would be the largest -- by a chinese company. china has gone back to offer another deal. with an option to buy the rest of it later. about $472 a chair. -- a share. little bit more than the rejected deal. what they are proposing is that they can work together to try to integrate the two businesses. toward -- will
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hold a board meeting to vote on this. metchina is said to have with syngenta a couple of weeks ago. syngenta is talking to other companies, including monsanto. offer was rejected earlier this year. angie: why syngenta? a maker of pesticides and chemicals but it is also a leader in the production of gml. chemchina is very eager to develop in this field. is an area where it wants to become a leader in. it is a push by china as a whole to keeping food security. china really wants to be able to develop its own dmo crops. -- gmo crops.
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it will help chemchina to push ahead and acquire the knowledge and information to become a leader in this field without having to go through the process of developing gtmo crops and technology itself. angie: the computer security has says hackers from china attacked targets in taiwan including the progressive party. the news comes about a month before the presidential election. reporter it joins us -- joins us with the latest from taipei. jim: -- been on taiwanese news organizations. in those e-mails, they sent e-mail spoofing the party,
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pretending to be from taiwan opposition parties. that is what the security firm uncovered. in my own reporting, i've spoken to people at the party itself. in one instance, a staffer had found their own gmail account had been infiltrated by hackers. in one instance, an e-mail account from a colleague had also been infiltrated with the hackers actually typing in chinese a spoof e-mail. another attack that came across, a former u.s. diplomat to taiwan is now working as an academic in taiwan has been getting warnings from google itself in his gmail account warning that
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state-sponsored hackers may be trying to attack his account as well. instances least three that we know about so far where targets in taiwan and connected to the taiwan opposition groups have been attacked in the last month or so. angie: what are the hackers trying to achieve? what interest would chinese hackers have? tim: it is an interesting question. getting access to the party itself would be interesting to them. they would like to understand the party better and get inside information to undermine, in terms of information warfare. the intelligence agencies and china and around the world, often what they are trying to do is gather information and then pass on that information to various intelligence organizations that may need to know more. with respect to the opposition party, which looks quite solidly
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-- polls are showing they will get the presidency when the elections come in mid-january, and so the opposition is a target clearly for the chinese. moving on to a former u.s. diplomat to taiwan, even knowing who that person knows and talks been a u.s. diplomat would have an inside thought on what the u.s. is thinking. that would be of interest to any hacker around the world, especially chinese. and finally, a news organization -- all news organizations have been in the sights of hackers for quite a long time especially the chinese government. accessing what they want to write about and who their contacts and sources are would be something we would definitely expect the chinese government wanting to do more of. angie: thanks for monitoring that. coming up, we are going to see
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spotlight back in the at the center of clean energy. first up is back in two. ♪
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angie: checking some of the stories making headlines. hopes are fading for up to 80 people still missing after a fairy sank off the indonesian island over the weekend. rescue officials say the fiberglass boat was carrying 122 people when it was hit by ways during a storm. 39 people were rescue. three bodies were recovered. are of indonesians islands connected by boats. at least 27 people are still unaccounted for after a landslide at an industrial park in shenzhen. very orings were collapsed by a wall of med. -- a wall of mud.
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two of the buildings were workers in dormitories. the mudslide came from construction work nearby. the mud had been piled about 100 meters high. tokyo olympics. six times the original estimate. saycials quoted by kyoto soaring costs are to blame particularly for counterterrorism measures. the $15 billion estimate is more than four times the project for next year's rio games. the original plan was scrapped by the prime minister for being sued -- are being too expensive. of newn in the wilds south wales is famous for the company.e of a small many years later, that small company is known as bhp billiton.
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is going green hosting the second largest farm in australia. bloomberg has been -- went around for a look. >> 52 megawatt project. second largest project in australia and one of the largest projects. it took about 9-12 months to construct. at $450ect is valued million. we have a long and storied history associated with mining. as a function of what is happening in that industry, there has been appearing down in job opportunities. this is a fantastic opportunity for broken hill to embrace a new we seek is awhat new and exciting source of job creation. 100-200ect had about jobs during the construction karaoke or now, -- construction
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period. since the change in leadership at the federal government level, we as -- we have started to see a proactive effort. if you look at all of the factors you need or a large scale deployment, australia is number two globally. reasons whyobvious large-scale solar should be contribute. policy constraints and uncertainty. we are confident that with the right policy signals and private sector commitment that we are now seeing, large-scale solar will be off to the races in australia. angie: let's look at australia's efforts to curb emissions. what kind of transition is happening there now? james: broken hill is an interesting place.
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it is a mining town. it always has been. they have been digging silver, lead, and zinc out of the ground since 1880's. it is the biggest industry player in mining. broken hill is sitting at the forefront of another emerging industry. solar power. along with a sister plant in new south wales, it is seen as the largest of its kind in the southern hemisphere. it cost about $440 million to develop. in a way, broken hill is a microcosm of what is playing out on the national level as well. australia being a large mining country that is now finally looking skyward and having a different resource and focusing on the sunshine to generate electricity. angie: why is solar so important for australia? what is at stake here? ames: australia is deemed the
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world's sunniest john thune. it has the highest levels of solar radiation anywhere. in the past, australia has not really fulfill their potential. they really lagged with other countries. we have seen a flurry of activity of the residential side. intralia leads the world selling rooftop panels. we trailed behind countries like all gary a and ukraine -- bulgaria and ukraine. we are seeing some positive momentum now. going to seee are a 15 fold increase in capacity in the largest tales solar industry over the next five-years. renewable energy target. australia is aiming to get a quarter of its electricity from clean energy sources by the end of the decade. costs are coming down significantly. 20% less than what the projects that were just built cost.
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the government is putting $350 million into it as well. a number ofy seeing changes. there are some big challenges, however. oversupply in the market. power stations need to exit before large renewable energy investments can be made. the sector still has a long way to go before it can achieve strong results. angie: how quickly can we see growth in this sector? f is: as i said, be an suggesting -- bng is suggesting they will see that we will see a significant rise. we will see more activity. angie: thank you. shining a light on that.
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sorry, i had to say that. suzuki gets more control in india. we will take a look at how that is moving the stocks. coming up next. ♪
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angie: welcome to the stock exchange. watching national services. david picked this stock. i did go with them. thanks for sharing that. back 3.1% ofo buy shares for as much as 10 billion yen. a little bit of a pop there in the first hour of trading in tokyo. give credit where credit is due.
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not a lot of credit going on for suzuki. shareholders gives the nod to set up its first wholly owned -- in india. it is going to invest directly in india. it is down a half of 1%. zeb: so close. catching up on you juliette. decline. i usually like to make people money. nagano japan- radio is being observed as a wholly owned entity of japan radio. these are communication device makers, radio equipment makers like walkie-talkies. not radio stations. this stock has done well, up about 12% this year. something to keep an eye on.
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angie: there you have it. four more days until the end of the year. zeb and i. between angie: that is the showdown. our reporters picks. trending business is coming up next. we have reshot on vacation but we have yvonne here. vanke facing a hostile takeover by thebaoneng group. we will see what plants he has in mind. toshiba plunges on the report that the company has reported a
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$4 billion loss. an accounting scandal. we will see what plans they have in store as early as today. angie: thank you for watching us on "first up". ♪
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yvonne: good morning. i am yvonne man. and this, is "trending business" . in sydney, melbourne, and singapore. first, here is what we are watching. toshiba falls over 10%. the biggest drop in seven months. the leading loser after the nikkei news says it may post a $4 billion loss this year. nda


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