here in japan it's 7:00 p.m. on a tuesday. i'm james tengan from tokyo. welcome to "newsline." here are some of the story we're following this hour. questioning the collapse. while people wait and hope for more survivors from the deadly taiwan quake, many are also looking at concerns over the building's construction. calling for punishment. both chambers of japan's diet have unanimously adopted
resolutions condemning north korea's latest rocket launch. rising demand, falling rates. japanese ten-year bond yields drop below zero for the first time ever as investors grab up what they see as a safer bet. rescue workers in southern taiwan have brought in heavy machinery to help them comb through the rubble of a lapsed building. they are looking for survivors of saturday's powerful earthquake. authorities have confirmed that 41 people have died and more than 100 might still be trapped. most of the victims were found under a 15-story condominium in the city of tainan. authorities are speeding up their search as the crucial 72-hour window has already passed. this woman says her 3-month-old son is trapped under the debris. >> translator: it's really tough. i don't know what else to say. today is the fourth day. >> we have information from the scene that trapped survivors may
be attempting to communicate with rescuers, and some people have expressed fears that heavy machinery might endanger anyone still alive in the rubble. while people wait and hope for 75ers many are whoogt concerns over the building itself. this report from tainan. >> reporter: since the quick many citizens are expressing fear about the safety of older residential buildings. taiwan's president-elect paid a visit to the site to reassure people action will be taken. >> translator: there are many old residences in taiwan. they were built in the period of industrialization. we need to strengthen all of them. >> reporter: after a major quake in 1999, work was done to strengthen public facilities. but not many apartment buildings.
the golden dragon community block seems to be one that needed special attention. some neighbors spoke about their concerns. >> reporter: the walls look thin and i thought it was a shoddy construction. >> reporter: aerial footage shows no traces of major damage in the neighborhood except for that building. the first floor of the apartment was completely ripped out of the ground as it collapsed. experts say that's just one of the signs there were problems with the design. this is an architecture expert who is conducting his own investigation at the site. he's focusing on the pillars and the walls of the building. >> translator: as you can see from the blueprint of the building the layout of the pillars is irregular, making it easier to tilt. >> reporter: he says pillars are
normally placed in a straight line, but they weren't here. that made the residential complex more susceptible to collapse if even one pillar broke. in addition, one side of the building's first floor was occupied by an outlet store. >> translator: since the first floor didn't have many walls this led to serious destruction after the pillars' collapse. >> reporter: he points out the strength of the steel used in pillars and the beams may have been relatively weak. after the '99 quake, standards for the quality of steel used were raised. but at the time this building was built, those standards weren't in place. tainan city authorities say they will continue to investigate the collapse, particularly to see whether there are any legal questions over the building's construction. people hope that could help
prevent something like this from ever happening again. nhk world, tainan. local media report that the developers of the collapsed condominium have been arrested on suspicion of negligence. for further details stay with us here on "newsline." japan's lower house of the diet has unanimously adopted a resolution condemning north korea's weekend rocket launch. the lawmakers say the launch of a ballistic missile is a serious threat against regional and global security. the resolution urge is north korea to immediately halt the development of ballistic missile technology. the lower house also called on the government to speed up discussions with other countries on possible sanctions. the hope is that the u.n. security council will adopt a resolution that include s new sanctions as soon as possible. members also say the security council resolution should refer to human rights violations by pyongyang, including the
abduction of japanese nationals transmy government will urge north korea to fully comply with u.n. security council resolutions and to seem a comprehensive solution to pending issues such as abductions, its nuclear program, and missile development. >> prime minister abe said his government is also discussing the details of its own possible sanctions against north korea. the upper house unanimously adopted a similar resolution later in the day. north korea insists its launch was for its space program. its neighbors and the u.s. maintain the launch was for ballistic missile development. meanwhile, the leaders of japan, the u.s., and south korea have agreed on a unified approach to north korea. japanese prime minister shinzo abe spoke with u.s. president barack obama before phone on tuesday. both leaders agreed that a swift adoption of resolutions by the u.n. security council is important. obama reaffirmed that his
country is also prepared to help defend japan in the face of such threats and provocations. abe also spoke on the phone with south korean president park geun-hye. park said she shares abe's view the u.n. security council should adopt new resolutions as soon as possible. she also welcomed tokyo's pledge to tighten its own sanctions against pyongyang. she said south korea must also consider tougher sanctions of its own. rescue workers in germany are trying to free people from the wreckage of two trains after a head-on collision. local media say at least four people were killed and more than 100 injured. the local passenger trains crashed on tuesday morning in the southern state of bavaria. some of the carriages derailed. police say more than 50 people are in serious condition. investors are responding to global uncertainty by pouring money into an asset they consider a safe bet. japanese government bonds. gene otani is here with the details and all the other
business headlines. gene? >> thanks, james. investors are really on edge about the global equity sell-off. they're offloading risk assets such as stocks and seeking out more secure options and that includes japanese government bonds. on tuesday the yield on the 10-year jgbs dipped below zero for for the first time ever. when the bond price goes up, the yield comes down. the red line indicates right here the zero level. as you can see, it fell to minus 0.035% and ended just a little above that at minus 0.025%. long-term interest rates have been falling since the bank of japan announced a negative interest rate policy late last month. it's causing a rally in the bond market because many commercial banks would rather park their money in jgbs than keep it at
boj where they'll continue to make a loss. japan's financial services minister says the government will carefully monitor the effects of falling long-term interest rates, including the impact it will bring on banks and other financial institutions. taro aso says lower long-term rates are a double-edged sword. he says they cut borrowing costs on housing loans on the one hand but reduce returns on bank deposits on the other. >> translator: the government and the bank of japan will continue to steer the country's economy in the right direction. in an effort to pull the country out of deflation. while taking full note of the bond markets. and we need to keep an eye on financial institutions through inspections and supervision. >> the yield on 10-year jgbs has been on quite a ride over the past 25 years. in 1990, japan's booming economy
pushed rates above 8%. then the asset bubble burst. the central bank kept easing its monetary policy and long-term interest rates continued to drop. at one point in 1998, a year after yamachi securities went bankrupt, long-term rates went to about 0.6%. after that they hovered between 1% and 2%. in march 2013 kuroda took over as governor of bank of japan and launched a massive credit-easing program. rates tumbled to 0.315%, a record low at the time. late last month the bank's policymakers did something they've never done before -- they introduced a negative interest rate policy. that sent long-term rates plummeting to 0.09% on the same day. and on tuesday for the first time ever, the benchmark rate dipped below 0%. the yield on the ten-year jgbs serves as a benchmark on borrowing costs.
three of japan's banks and a post bank lowered their interest rates on deposits this week. major banks have already trimmed ten-year motor raj rates to their lowest levels ever. >> translator: negative interest rates are unlikely to be applied to personal bank accounts. >> but some analysts say if boj expands its negative interest rate policy commercial banks may have to respond. nhk world's kyoko fujita has been following the marks and looks at some of the causes. >> reporter: the confusion in the japanese market on tuesday actually started from concerns overseas. the main concern, the u.s. economy. a weak company earnings report on top of fewer new job creations than expected has frightened investors. investors are now thinking the u.s. federal reserve will not be able to raise interest rates as was hoped. that in turn has caused investors to seek safe havens for storing their money. a safe haven is seen as a
low-risk investment. it can be in currencies or government bonds. so those international investors i just mentioned, some of them look to the japanese yen for safe investment which is why the yen has increased in value against the dollar. here in japan a stronger yen is scaring company managers. an unexpected stronger yen could affect corporate earnings for exporters. investors reacted rapidly. they cashed out their stocks one after another to avoid losses. this in turn caused nikkei stock prices to plunge. investors were then in search of a safe place to put their money. so they decided to buy japanese government bonds. but here's what happened. the price of the bonds rose because so many investors bought them. the prices actually went so high, investors will not be able to get a return on their investments. all this caused the rate for long-term government bonds to drop below zero. >> translator: investors fear another slowdown of the global
economy. the biggest problem here is that there is no attractive place to invest money. >> reporter: uncertainties over the world economy are driving investors to avoid taking risks. economists say now that there's no crystal ball for predicting the future of the global market. kyoko fujita, nhk world. the effects of the risk-averse move were seen in broader financial markets. in tokyo led the falls in asian stocks following heavy sell-off in the u.s. and their european peers. for more we go to our business reporter mayu yoshida at the tokyo stock exchange. it seems there's no big catalyst to move the markets on tuesday. what's this all about? >> there's more anxiety about worldwide financial markets so that's relatively new. but beyond that there's been a few things driving markets lower. first of all, last week's economic figures were relatively disappointing, even the ones in the u.s. second, in the past couple of
weeks we're seeing more central banks, like in japan and europe, to either adopt or consider more easing measures. so that's making investors nervous about what will happen if central banks run out of silver bullets. with all those factors combined, investors dumped risky assets. here in tokyo the nikkei plummeted 5.4% at close. that's over 900 points, posting the biggest one-day loss since may 2013. both the nikkei and the topix had two and a half week lows on tuesday. the global equity down trade was triggered by a sell-off in european banks on worries about its profitability. the same thing happened here in tokyo as the financial sector led losses here. the three mega banks were the hardest hit. all plunged as lower interest rates will erode their profitability. it wasn't just financial stocks. 98% of stocks listed on tokyo's main board dropped. now another reason behind the
plunge in japanese stocks is the surge in the japanese yen. dollar/yen hit the lowest level since november 2014. it was a very wild day and one analyst said it's almost like the markets are in a panic because this flight away from risk assets is exaggerated. mayu yoshida reporting from the tokyo stock exchange. sydney join the global sell-off. the index dropping by almost 3%, 4832, its lowest level since july 2013. oil prices slipped below $30 a barrel again and that weighed on energy-related stocks. the philippine market is back from a holiday. the main index there down by 1.9%. 6637 for the closing number. it snapped two days of gains. banking shares led the losses
throughout the region. many other markets including shanghai and hong kong remain closed for the lunar new year holiday. here's a look at some of the other business stories we're following today. mcdonald's holdings japan has posted a record loss of about $300 million in its consolidated results for 2015. it's the second year in a row the firm has reported a net loss. the company has been struggling to recover from food safety scandals, including reports of foreign objects in its meals. kase says a subsidiary failed to take action when it discovered falsified data for concrete housing piles in its housing projects. one apartment complex in yokohama has started tilting. kase's president said he will resign in march. that's it for business news. i'll leave you with the markets.
u.s. presidential hopefuls have been pitching their messages to crowds in new hampshire. voters there will cast ballots tuesday in the nation's second nominating contest. opiniopolls suggest vermt senator bernieanders i leading among democric voters. he lost by slim margin last week to former secretary of state hillary clinton in the iowa caucus. in the republican camp, the latest polls show that businessman donald trump is out in front.
he took second place in iowa, to texas senator ted cruz. following trump are florida senator marco rubio and ohio governor john kasich. sanders and trump have been making last-minute efforts to appeal to the people of new hampshire. both held campaign rallies around the state well into monday night. celebrations for the lunar new year have turned violent in hong kong. clashes erupted when police tried to clear unlicensed vendors from the streets. hong kong media say the unrest broke out early tuesday morning. officers were moving in to remove food stall operators in downtown kowloon. more than 100 angry vendors and residents responded by throwing stones and setting fire to piles of garbage. officers fired warning shots and tear gas to disperse the crowd. about 50 officers and four members of the media were among those injured. police took 24 people into custody.
some reports describe the violence as the worst since pro-democracy protests in 2014. authorities in russia say they have broken up a terrorist ring that s planning large-scale attacks in moscow and st. petersburg. they say they arrested seven islamic state militants in connection with the plot. officials with the federal security service said the suspects include citizens of russia and other countries in central asia. they say the ringleader had entered russia from turkey. they believe the group was planning to return to syria after the attacks. authorities seized weapons and equipment for making explosives. the arrests come as russian jets carry out air strikes in syria in support of the administration of president bashar al assad. but concerns are growing that the campaign is pushing up military spending. while lower oil prices are putting a strain on the national budget.
next month will mark the fifth anniversary of the massive earthquake that devastated japan's northeast. in tokyo it left more than 5 million stranded. officials anticipate a major quake could eventually hit the city directly. one of their fears is that large numbers of people trying to return home could hamper rescue efforts. take a look at how they are preparing. ♪ >> reporter: fans enjoy a concert at a theater in central tokyo. but this is more than just a concert. officials planned an emergency exercise to pretend a quake hit during the performance. theater staff warned the audience about possible falling deis. >> translator: most of the trains and other public transportation in central tokyo are stopped.
please stay here. >> reporter: all of this is to prepare for a major inland quake. in the event of one, the tokyo metropolitan government estimates as many as 920,000 commuters, shoppers, and tourists could be stranded. in that case, officials say people should take shelter and wait for about three days before trying to get home. so as not to disrupt rescue operations. >> we are providing information on the emergency in reports in english and chinese -- >> reporter: for a future quake officials are taking people who don't speak japanese into account. the number of foreign tourists has recently grown and is likely to continue to leading up to the 2020 olympics. so officials have tablets with translation software to communicate with foreigners. >> translator: where do you live?
>> reporter: the drill also tested an emergency system available in japanese, english, chinese, and korean. with a name or phone number, users can check the lists of evacuees registered with local authorities. and see postings on emergency messaging services. officials hope the system will help keep people informed so they don't try moving around the city, a message they want to stress. >> translator: first, mind your own safety. second, stay where you are. don't move unless you really need to. that's the basic principle. >> reporter: there's still more work to be done. the tokyo metropolitan government estimates the number of shelters in the city needs to be quadrupled with the rise in tourists. officials are trying to secure enough space for everyone.
>> and there's no such thing as being overprepared, thanks. now for weather. currently in perth, australia, it's around 37 degrees celsius, or 98 degrees fahrenheit, even as dusk approaches. sayaka mori has more on the heat wave down under. >> weather has been abnormally warm across western australia since late last week. the highs have been over 40 degrees since the weekend. the heat will likely stay in place. a high pressure system is controlling the weather causing high temperatures and also sunny weather in western australia. the perth high rose to 41.2 degrees on tuesday. even higher on wednesday. 44 degrees is your expected high on wednesday. and staying quite warm into thursday and as we go into the weekend things will be cooling down. under such conditions heat stroke could happen so to avoid heat stroke drink plenty of
water, spend more time in air conditioned places, and wear light-colored clothing to avd heattroke. across north north america, unusually hot weather persisting across the west, especially california. there is a high pressure system and winds are flowing along the rim of the high pressure. then winds are sweeping along the mountain, pushing up temperatures for the high rose to 31 degrees in metro los angeles on monday. that's the highest for the day on record. the high will stay quite high into your tuesday. 32 degrees expected with windy conditions. that means fire danger is going to be very high. so please watch out when you use fire and sunny weather will likely continue into your thursday. weather is gorgeous as usual in the hawaiian islands but the surf is quite high. in fact, high surf advisories in place along the north and west-facing shores. waves could hit up to five
meters in several places. but overland temperatures will be quite gorgeous and temperatures are going to be up to 28 degrees for the high on your thursday in honolulu. enjoy that. and across japan, heavy snow is falling across northern areas, about 30 centimeters of snow has fallen in nagano prefecture the past 24 hours. snow will likely continue for the next couple of days. anitional 10 or 20 centimeters expected for many areas and thunderstorms are expected across the coastal locations and heavy rain could lead to flooding. and then across the opposite side of japan including the tokyo area, things will stay quite dry and temperatures are expected to be warmer as we go into the next several days. 16 degrees expected in tokyo on saturday. that's 6 higher than normal. that's more like early april, in fact. and osaka, 18 for the high. naha should be around 20 degrees
but as we go into the weekend things will be warming up. enjoy the warm weather. across the continent, it's mostly dry across many parts of china as well as the korean peninsula. as you can see some showers are expected across the south of china as well as taiwan. but tainan where the earthquake hit during the weekend you'll see generally dry weather into your wednesday. as we go into friday some showers are expected. that's it for now. up next is your three-day forecast.
>> this is "france 24." time for 60 minutes live around world. these are the headlines. the first votes are cast in new in the crucial presidential primary there. republican donald trump has pledged he will bounce back from democrat in iowa and hillary clinton is working to narrow the gap an bernie sanders. crash in germany leaves nine dead and 150 injured. ase two