tv Asia Business Report BBC News February 9, 2018 1:30am-1:45am GMT
is just a few hours away. north korea held a relatively low—key military parade on thursday, and in another tension—reducing move is sending a delegation to the games. south korea's president will lunch with the group, which includes kim jong—un‘s influential sister. syria has accused the us—led coalition of war crimes after air and artillery strikes killed 100 pro—government fighters in the eastern deir el—zour province. the americans said it was self—defence. and this video is trending on bbc.com. the excitement of these american school children about the new film, black panther. the action—adventure features an almost all—black cast. tickets are selling out in the us and it hasn't even opened at the box office yet. that's all from me for now. stay with bbc news. and the top story here in the uk: two british men believed to be islamic state militants known
for killing western hostages have been captured by kurdish fighters in syria. they're alleged to be associates of the man dubbed jihadi john. now on bbc news all the latest business news live from singapore. asian markets head south after another punishing session on wall street. and flying high but two were? we find out why businesses and spectators flocked to edge shows. —— airshow is. welcome to asia business report live from singapore with me, mariko oi. we start with markets and we had another volatile trading day of the night, wall street ended the day practically in freefall and now we're seeing asian shares down as well. monica miller has the latest. monica, wow, what a week? it's been
intense. the asian markets are taking wall street's lead s&p m _7 seng isjust opening, it closed down! down as if seng isjust opening, it closed down! down as - if we can yesterday down as well. if we can look at what happened in the us, again itjust sank right to the bottom. the dow jones again itjust sank right to the bottom. the dowjones industrial is now down below 24,000, closing more than 4% down. snp 500 and nasdaq as well. it's been a nerve shattering kind of weak but there's one rally that would have made bigger news on any other date and that's twitter, twitter has made a profit since the first time it started trading
publicly since 2013 —— day. we will keep an eye on the rest of the asian markets for today but what's going to happen with india? thinking about how that's going to impact... right 110w how that's going to impact... right now we are going to speak to our correspondent in them by. indian markets normally take a cue from the global markets, especially the asian markets, given the dow has plunged again today, the investors would be i'iei’vous again today, the investors would be nervous again when the markets open in the next couple of hours. but if you look at this last week, it's been really volatile for the indian market. ever since a budget was announced last week, the indian markets were in red, especially after the government announced at the long—term capital gains tax, taxing stocks and that had a real impact on indian stock markets and then the plunge that took place earlier this week triggered by the dow. investors are worried but if you look at the analysts they said
the liquidity markets are looking good, this is a natural correction because the indian markets have been oi'i because the indian markets have been ona because the indian markets have been on a fantastic run over the last 15 months. 0ver on a fantastic run over the last 15 months. over the next 15 to 20 days, you could see some sort of correction, but the markets are fundamentally strong and should bounce back in terms of growth. they are showing potentially strong numbers over the next 15 to 20 days. thank you very much. these wild swings that we have seen in the economy have put a renewed focus on volatility in markets, both for those who are winning and those who are losing. the bbc‘s kim get alston explains. during market turmoil it can feel a bit like you're on a boat holding on for dear life, but unless you like rollercoasters. .. for dear life, but unless you like rollercoasters. . . what for dear life, but unless you like rollercoasters. .. what a giddy world it is, to think people pay to make it is, to think people pay to make it giddy. chances are you don't love that rush of anxiety. grin and bear it, girls, you've paid for a full
share of torture. and neither do a lot of investors so as markets have matured, they've come up with ways to better predict when there will be market ups... the stock market has reached an all—time high today's. and downs, particularly since they happen faster than ever before. the way things react and the way the markets have reacted, they react very quickly now. so they created basically a prediction machine. you might have heard of it, it's called the vix, or the fear index, it's basically the weather forecast for the stock market. well, the snp 500 to be exact. a low level is like a calm sea, smooth sailing ahead, but if the vix starts to spike, it's like the vix starts to spike, it's like the first breeze that signals a storm is coming. a key thing, much like our weather forecast, the vix isn't entirely accurate. it often thinks the storm will be a hurricane when it's really just a drop of water.
basically it's a half —— glass half empty index. this is something a group of investors have bet on to make quite a bit of money recently. the only problem for them is that when it comes in they get caught outside without an umbrella. the olympics kick in pyeongchang today. while much of the news has been dominated by north korea's participation, the event will deliver a boost to the south korean economy “— deliver a boost to the south korean economy —— kick off. soul has spent $12.5 billion to build 0lympic facilities and one estimate says the event could bring south korea nearly $40 billion in economic benefits by attracting additional1 million foreign tourists each year for a decade —— seoul. earlier i spoke to a career expert and professor at king's earlier i spoke to a career expert and professor at kings cup london.
—— korea. iasked him if those numbers were a bit optimistic —— king's numbers were a bit optimistic —— kings cup london. i think that south korea could benefit greatly. —— kings college london. looking at other cities, like naga know injapan, they have had boosts in tourism amongst australia and southeast asia so the same could happen in pyeongchang. —— nagano. last night the north koreans had a military parade that was smaller, they are on a charm offensive it seems, but tourism could be jeopardised if offensive it seems, but tourism could bejeopardised if tensions remain high? that's true but after the 2002 world cup, the number of tourists in korea increased from 4.5 million in 2003 to 70,000,02016. a increased from 4.5 million in 2003 to 70,000,020 16. a fourfold increase —— 17 million in 2016. many
in the region don't seem to be as concerned as we are in other parts of the world and i think1 million tourists per year increase is a reasonable figure. 0ver over the last three days we've been talking a lot about some of the hottest topics at asia's biggest aviation event, the singapore airshow. i've been there and i've been talking to the movers and shakers in the industry. i also wondered, why do we have these events and what is the appeal? excuse me, we're from the bbc and we're asking people what you think the point of an airshow is. no? what is the point of an airshow? well, it's too... —— to. paris, dubai, hamburg and here in singapore, the world's big four
airshows but what's the point of one of these shows? let's find out what people think. look around, get information. it's for people to meet and develop business together. we can expand our information about what's new. icame overto what's new. i came over to discuss future business. so, for some, airshows are all about deals and nobody more so than the plane like boeing and airbus. they bring their latest jets plane like boeing and airbus. they bring their latestjets to try and generate interest from airlines. airshows are also a big chance for companies to announce deals that they have just signed and get some headlines, that means handshakes, smiles and normally a display of model planes. but airshows are not just about selling planes, they're for everyone in the industry and this company is touting a system that helps airlines personalise in—flight entertainment systems for
individual passengers. but way more fun is showing off a virtual reality helicopter simulator. a fixture at every airshow, the world's military, they are the ones with the shiny shoes and the medals. defence is a huge part of any major airshow, it's where people come to show off their latest military hardware. the traditional flight display you get atan the traditional flight display you get at an airshow is a subtle or not so subtle way to show the world what you're capable of for the military, but for everyone else it's just a chance to see planes going very, very fast and doing some tricks. a bit too much me in this programme,
isn't it crazy that is what you have to do when there has been an airshow and there's been no major plane announcements —— isn't it? sharp fall on wall street affecting asian markets. hong kong started trading and is down 2.5%, japan and australia also down after the dow fell by over 1000 points overnight. volatility seems to be continuing. that's it for this edition of asia business report. thanks for watching. the top stories this hour: a north korean official under international sanctions, choe hwi, has been allowed by the united nations security council to travel to the winter olympics in south korea. the reuters news agency has revealed details of a mass killing of rohingya muslims by soldiers and villagers in myanmar, which it says lies behind imprisonment of two of its journalists there. members of parliament
could lose their seats or be expelled under new plans to tackle bullying and sexual harassment at westminster. a new code of conduct is to be set up for all those working at the palace of westminster, along with an independent complaints procedure. this report by our political correspondent alex forsyth includes some flash photography. in the bars and backrooms of westminster, claims of bullying, intimidation, sexual harassment, allegations that prompted investigations and some resignations. and reflection on how to change a culture that allowed abuse. the leader of the house, lord president of the council. today, mps from all parties unveiled their plans. it is a right, not a privilege, to be treated with dignity and respect at work, and this ambitious report is a major step towards a safer and more professional environment. part of the problem had been those working here are often
employed directly by mps, with only political parties to complain to. so this report proposes a new code of behaviour for everyone working in parliament and a new complaints and investigation system, independent of political parties. and there will be sanctions for inappropriate behaviour, anything from an apology to a possible suspension. in the worst cases, mps could face a public vote to keep seats, not under new rules but using existing ones. there are some questions about the fact complaints will be kept anonymous but broadly, the report has been welcomed, beyond the detail, some are worried this alone will not bring about the change in culture that is really needed. damian green was one of those accused of inappropriate behaviour which he has always denied. his accuser says that today's report is a welcome step but a bigger shift is needed. you cannot make people take things seriously
unless there is a serious culture change. that concerns me in parliament. there is still a lot of mps who don't understand why behaviour they have been getting away with for 20 years, people are suddenly noticing and complaining about, that is the problem. the focus on this shadowy issue might have started the process of change, but most recognise there is still a long way to go. manc more on all of our stories on the website and you can catch up with me and some of the team on social media. at 2am mike amberley will have a full news update. —— mike embley. time now for all the sports news in sport today. hello, there.
i'm tulsen tollett and this is sport today, live from the bbc sport centre. coming up on this programme: controversy in the mixed doubles curling as the winter olympics get underway. spencer 0'brien looks to make up for lost time when she heads out in the slopestyle snowboarding. and defending championjordan spieth sits seven shots off the lead after the opening round of the at&t pebble beach pro am. hello and welcome to the programme. it may be nine hours until the winter olympics 0pening ceremony but there was already action in pyeongchang on thursday. and there was controversy at the curling round robin stage of the mixed doubles as colm harrison reports. switzerland were leading 5—4 against china went to players, one from each side, mu keystone to see which was the next closest.