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tv   On the Move With Rishaad Salamat  Bloomberg  October 12, 2014 9:00pm-11:01pm EDT

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bam, straight down. we're down 21%. that's a 21% drop from the peak back in june. we were at 113, 114 a barrel there for brent. i also want to focus on gold. et's short then two-day chart. >> good morning, everybody. ld is back above -- 1,234 an we are live in hong kong. this is "on the move." ounce here for gold. those are spot prices, by the way. it shows you, if you look at the net low positions, that has been reduced over the past eight weeks. some hedge funds actually police move in and hong kong to reopen parts of downtown. missed out on this recent gain in gold prices. back to you. the selloff in chip stocks spreading, expect similar >> ok. breaking news coming out of declines in taipei. china and getting to the china economy. scott is in beijing. another front tier for yum! scott, well, the surface were brands. more than anticipated but fears of a global slowdown is actually on the export and all playing into the mix right import side we were way, way now.
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ahead of estimates overall, weren't we? >> we're just getting some >> it is not a good open. details on these numbers. it was better than estimated on both of those counts. what we see, we just got a extent theng asia country by country breakdown lastff we saw that started market by market. there was a pretty big increase in exports to hong kong, more week. the s&p 500 having its worst than 30%. week in two years. you'll remember that was the you had a drop in the small caps place where a lot of the fake index. over the weekend, some of the invoicing toomings last year. middle eastern markets were absolutely hammered. alleged to have taken place. we're going to be taking a we are seeing risk aversion closer look at these numbers continue across the region and looking at that more closely today. today. south korea also saw a jump in japan is closed for a sports day. a lot of these indicators that imports. china's exports from south show you risk appetite, the korea also jumped. we're still trying to figure out whether there is a real up, gold is vix is increase in global demand, up as well. domestic demand or these reflect some one-time issues that may or may not last in the we're are on a three-week high, coming months.
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>> what does this mean then for gaining have a point percent against the dollar last i the economy itself, the checked. economic outlook and the extent that policymakers will look at being socked into and what they might use? safe haven currencies. >> well, if there is a real sign that external demand is an eight-month low for the a x x helping support china and 200 -- asx 200. domestic demand is coming back then that's clearly positive for g.d.p. growth in china. it helps sustain growth at a taiwan is reopening right now. time when a drop in the property market is hurting some parts of china's economy. 2.7%. look at korea and taiwan, one it also means that they're less group of stocks you want to likely to use any kind of major watch, chipmakers, semi stimulus to help the economy conductors. right now. they just eased mortgage policy you had a morning of industry correction -- a warning of a little bit this weekend industry correction. weeks. continues tohina they've been taking other measures like major loans to liquidity injections into the decline. taiwan saw half $1 billion for an portfolio outflows last week. banking system and if demand the holding up both globally malaysia just about flat. and domestically then the
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outlook is going to be better continued -- a continued and we're less likely to see selloff across the region today. some of those kinds of actions. >> scott, thank you very much no indication that we will see a reversal over the next 30 ndeed for that. scott lalland minutes. thank you. >> hong kong democracy protest scombroing us from beijing. taking a germanic turn today -- well, indonesia is flying dramatic turn today. carrier has given boeing a shot in the arm. latest?the let's go to jakarta. i met the main protest. how much is this order worth? heavy a headline number but often these carriers do get discounts that they don't this morning, there were scores reveal. >> it's a pretty impressive of people moving their ears. number. 15 new jets worth almost $5 they're moving -- barriers. they say they are moving them to regain government property. billion u.s. they're eager to update their fleet. releaset protesters to their currently operate 77 as roads so cards can't get through the earlier version. they claimed this new plane . so they say. will be 14% more fuel efficient
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than today's most efficient this process has been pretty much the same as it has been many mornings. 23% ation of 737's and one of the pro-democracy lawmaker says he estimates about 1000 protesters are still out this morning. ones. than the former i have been calling for reinforcements, support. this is their commitment to offer the people of indonesia police say they are not trying to be -- move protesters, they and seethe asia the most efficient and sufficient air are just trying to move eric travel in the region. yates. they plan to add up to 250 -- barricades. aircraft by 2025 to effectively barriers andng double its fleet and lead demand in one of the world's reinforcing the ones they have up. fastest growing aviation the roads leading in and out of markets. but this crickets what they the financial district in hong kong. said in september this year protesters are worried about the when he said there would be remaining barriers. delays in the new aircraft as the company suffered big loss. , several different $211 million loss greater than roads going to this area. the loss reported for the same they are spread fairly thin. period the year before. back to you.
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>> stick around. >> we're going to stay with in the midst of all of this, aviation. airbus making deeper inroads --g kong chief executive into china. the price $7 billion. zero chance of beijing giving into the protesters demand. an aircraft finishing center in we hope to negotiate to the country. in less than 10 years, airbus has doubled its share in the market. achieve universal suffrage in 2017, but if the precondition is showdown looming between cafe to have nor the basic law of china's decision, the chance for pacific and its pilots this week. negotiation is close to zero. this after the airlines' latest .> david tweed is with us now payoff was voted down. it seems like there is no end in 51% rejected the carriers' sight. it does seem like things are changing. increase. pilots could disrupt operations police -- it looks like over the busy end of the year they could move forward and time frame. france has thrown down the remain the barricades -- remove gauntlet to its unhappy pilots, the barricades. saying it will create another they are putting on their teargas masks. carrier. air france says the simpler they're getting prepared for option would be to expand it
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violence. they said they will not employ but a new sub sidry thest a any violence. it looks as though they could easily be cleared away. backup plan. the air strike is supposed to ave cost the airline more than it does look as if they could be cleared away. you really have to look forward and think, what have the hong $730 million. now setting its sights on one kong students achieved? of the great frontiers, mean .nd they have achieved a lot measure. - myanmar. they have a global scale, people are looking at hong kong from all over the world. how much do we know about this of hongifies the people plan? >> we know very little. what we know is that yum brands kong. everybody is now aware of this situation. will tie up with a local lot ande achieved a company. little else has been revealed but there's been massive they should -- probably, what speculation for at least a year ow that yum has been hiring in will happen is that they will stand down. but they will be a presence in the future when china is myanmar and that's not surprising. global plans. they're eager to make inroads negotiating whatever it is they and get a share of the plan in will be negotiating. the markets that's easing >> she is getting some reaction economic controls and seeing
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from those protesters. increasing wealth among its people. so much still to be tapped. one company that's succeeded is hello. hailand's mina food group. i am standing here with a it opened up. university professor. south korea's barbecue chicken he is a member of civic passion, chain has done the same and now a group which is resisting the operates in five locations. there's many room for more intervention of the government. players. it's estimated the restaurant themselves as market is worth something like more proactive. $3 billion. the growth expected to be police have been removing pretty fast. barricades this morning. >> you can do business in what is your reaction? >> i think they're trying to myanmar. it isn't easy. the lack of infrastructure a the bottom line of the huge problem there, isn't it? >> you're right about that. protesters. actione trying to have the infrastructure for keeping foods frozen or refrigeratored is yet to be addressed effect in a way that is not only central. ive -- efficiently. police force trying to move out
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a lot still needs doing but that's not enough to deter their roadblocks and barricades. companies which are keen to tap the main street has been into their growth story. take a look at per capita removed. the situation is critical. g.d.p. it now stand at about $900, the lowest in southeast asia but there's a growing middle class and g.d.p. will surel trickle down to higher purchasing power >> what preparations have you and a treys -- taste for made it police start moving in to move protesters from the foreign brands. site? >> haslinda, thank you very >> it is too complicated to much for that. nd yum brands' ambitions explain. the so-called there. alliance, including the concerns about a chinese , and then of students slowdown a bit overcooked. we'll discuss that after this occupy central, they tried to break. ♪ negotiate with the government in a change for citizens plaza.
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the will give back one of main roads. it seems they are not in line with the alliance. to only way to success, we try to stay on the streets. >> what are your next steps? are you just going to stay on the streets? already, you have been here for the third week. >> right now, we have to prepare for the worst. the hong kong government, police force probably won't do the same
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ofion like the eighth september. right now, what we are trying to -- we need to send a message to the people. we have more possibility to fight for the hong kong people. >> thank you. he is a member of civic passion. they will stay on the streets as long as possible in order to get their demands possibly met by the government. they do not expect the police to try to remove them by force at this stage. >> david tweed is with us.
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>> this is "on the move." they're waiting for the dialogue i'm rishaad salamat with a look to start. at the latest trailed data out they've been waiting for two weeks. is there any resolution in sight? of china. first, a wrap of some of the there will not be any change stories we're covering here. >> it's monday, october 13, and these are the top stories. to what china has already said police have been mobilized in will be the electoral process. central hong kong, clearing barricades. roads leading to the main protest sight -- site have been blocked off. as for the resolution, the k.y. ty's chief executive resolution will be when the streets clear. it looks as if the police will be able to do that. leung has again rejected calls for him to resign saying that i would think that today we will probably see the streets would solve nothing. cleared. or some of the streets cleared. >> if the precondition is to .e-strengthen traffic -- neglect the basic law of china's decision, everyone knows that the chance for negotiation is close to zero. >> the i.m.le s. and beijing agree that the deceleration in the world's second largest economy is healthy and there's
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another thing to watch out for no need for further easing. after this has ended, what will the people's bank of china says happen? china needs to maintain what it it is possible that in three calls pursue dent monetary months time, he will resign. >> that is what the rumor is at policy amidst steady growth and the moment. mild inflation. >> it could easily happen. increasing 15.3% on last year, well. not handled this benefiting from the u.s. even from beijing's point of recovery. imports rebounded, up 7% view. against projections of a he is not handled this entire situation well. decline. the world's second biggest at the moment, he cannot stand economy posted a trade surplus down. of $31 billion. >> it is a face-saving move down those are the top stories. the line is what you are suggesting. from hong kong. >> joining us in the studio is david, thank you very much. their other headlines. would you believe it? we have the imf saying there is no need to worry about china's beijing. you have been through them slowing economy. because there's a skew in them the deceleration is healthy and and that double counting can, of there is no need for further course, completely change the easing. numbers. >> yes, it could be new incentive for overreporting of exports but i think if we like
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at trade data in general, the numbers are a vivid reflection blackrock's chief executive of the current status of china's warning of a liquidity crisis. larry think saying the economy. regulators need to focus on the exports continue to be a bright future structure of the markets spot as u.s. economy recovers at with alternatives to bank dealers. a high pace. imports beating exportation. capital also prompted banks to if we look at quarterly growth, charge more for liquidity. samsung saying it has developed 1.4%, not very different from the second quarter growth of wi-fi technology that is 10 1.2% on year. suggesting still sluggish times faster. domestic demand in the context hd videos to be streamed in of proper competition. >> but imports were also way real-time. ahead of expected. the smartphone maker, we have that surely must be pointing seen a 60% drop in operating profit. overall to a stronger consumer. >> we still have to see if this up. is a one-month uptick because the trade data has always been extending.elf very, very fortified. >> we can see there how the -- last week's selloff import data is volatile. extending. august numbers down by 2.4%. ♪ >> yes. that's why we tend to look at quarterly gross rate instead of
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monthly. >> now, the question that everybody really wants to know is what does this mean for growth in the economy because it would naturally, you look at it thinking, well, it seems pretty robust. >> looking ahead, there are increasing unusualness about the global growth. >> what about china growth is what i'm suggesting? >> i think exports may continue to contribute positively to china's growth but the positive contribution may fade because the global growth forecast had been cut. and also domestically still weak demand. i think the positive contribution may not fully affect an active impact from the property construction. >> let's look at the stock markets done well off the back of these prospects. the point is i.m.f. you mentioned is quite confident that this is a good thing that you have this moderating recovery story, moderating growth story. china is agreeing with them as well, which is almost a mission we not get 7.5% growth this
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year. >> yeah, that is quality of growth but also the government seems to have some bottom line of the growth rate and, of course, 7.5% may not be bottom line but i think growth significant below 7.5% is still not acceptable. >> what do they do? >> i think so far they tend to introduce so-called targeted policies. but with job markets still quite stable, there's no appetite -- >> they were saying, as you met their target for job growth this year already. missthink there may likely the.5% growth -- >> i mean the job -- the >> the job target, yes. the job target i think has already been reached but the job creation target has been artificially low relative to the actual creation for each year.
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>> you're talking about them doing fiscal reform, monetary reform. could easily be doing something >> the selloff continuing this on the monetary side in terms of morning. a lot of bullets in their gun, the economic slowdown may delay haven't they? real interest rates could also interest rate hikes. be, balance sheet could be increased as well? >> yes. so far it tends to use the so-called equality rating trying thank you for joining us. but start off with what is going to lower the financial cost of the real economy but only by on in hong kong. the protests continuing. using the targeted measures such as targeted triple r cut and the police making a marked appearance. central bank landing but we how much damage has this done think the counter cyclical them in your view, to hong kong's reputation -- has done, measures such as interest rate cut should not be excluded because we are now experiencing and your view, to hong kong's reputation? a cyclical downturn of the >> modest. economy. >> but you said no quantity some of the complaints are symptoms of success. using, call tate tive. what is the difference there? too much money flowing into the >> qualityive using focuses on hong kong property market. this is not a city that has been extension of lick waty, money struggling. supply and credit. in credit money supply and
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by global standards, hong kong credit as a present of g.d.p. among the high of the -- highest remains very successful. in the world. and that causes an increase in those protests financial risk. will damage the reputation too much. the central bank seems to be worried about substantial risks singapore sees that as an of quantitate tive using therefore i think the focus is to losing the financial cost of the real economy. >> given what they have in their advantage. armory as we have been talking we have seen differences between about, many people say it's property side of things, the biggest threat to the chinese beijing and hong kong about how they see hong kong's future. economy, because of that weaponry, they can manage it, we have seen a generational divide within hong kong. can't they? >> what do you mean by that? we're not going to get a massive >> it is the 20 year gap. crash, are we? >> the property market is second to the economy. the i.m.f. estimated that 30% of the economy's is influenced by the property market. the young hong kongers will say so i think the current policy in the property market may not be that their hopes have been disappointed. enough to contain the downside of the economy. olderminant emotion among >> thank you very much for joining us from citigroup hong kongers israelis.
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joining us to get direction there to the all-important trade -- is relief. numbers coming out of china, about 50 minutes ago, what alltalk about thereabouts. up next -- we will be speaking with tradition reliance looking to the future by keeping it all this translated in to the hang in the family. seng. over in mumbai after this break. what is behind it all? check, aust a gut correction before the bull market resumes? >> the news, the fundamental news is about europe. to europe'sybody up travails. it has been focused on the u.s. labor market. that is about whether the u.s. recovery will show up in inflation. people are reminded that the bigger economic question is the face of -- fate of europe, which has been quiet. >> it seems like the u.s. is on a more even footing.
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>> mario draghi has a difficult task. initiated, that has been held back by this financial health check of european banks. the other thing that is holding him back is that he is willing to buy assets, that there are not enough suitable assets to buy. >> on china, the slowdown is a good thing? >> the slowdown has gone too far. china is a little bit below its potential growth rate. it is perfectly natural and forgivable that it slows. that is ok, but it should not fall below the trend. >> simon, great having you on the program. we have trade data a little bit later on today.
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but we can expect in our foreign exchange headlines, next. ♪ >> 22 minutes past 8:00 in the morning in mumbai. changes on reliance's board. two children have joined. but reliance's earnings are also expected today. joining us from the financial hub, haclinda? >> watch out for the quarter from reliance industry, the private sector company including petroleum refinery, oil and gas
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production. retail is expected to see profits rise about 6.2 billion, verse 5s4.9 billion on business according to 20 analysts surveyed by bloomberg. the company report aid record property in the segments july to september last year. last part of it is the reason why it will make it difficult for them to record a strong one. on the other hand, oil and gas as well as production business held its growth on the back of growth in its u.s. shell gas business. the refinery sources and looking to sell its stake in oil and gas business in the u.s. for an estimated amount of nearly 94.5 billion. speaking, of course, the two children are the big announcement keeping an eye out over the weekend. his twins, we understand, out of
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the limelight, have been appointed as board directors of horizon industries telecom and retail ventures, both of which have been picking up steam over the recent past. and we will be seeing both of the children, not only just on there but more session planning from them going forward. >> thank you very much indeed for that. if you're lucky enough to live and work by the water, there may be a new way of enjoying commute and keeping fit as well. forget motor biking. his is water biking. >> it is monday, october 13. >> my name is judah schiller i'm founder and c.e.o. of schiller more fed officials have signaled sports. the crazy guy made a motorbike. i was talking to a friend of they will push back tightening mine who lives in oakland, avid and monetary policy is the global growth outlook continues to deteriorate. cyclist. i asked him if he ever rode a
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bike from the east bay to san the latest coming from the vice francisco. and his answer was no, you president of the fed. he said the consequences could can't, it's either take the bart lead to the central bank to or ride the ferry with your remove it support measures bike, which isn't exactly biking. so in that moment the idea hit slower than otherwise. me surely someone in the world the focus of the short-term will be on china as it releases had found a way to put a bike on the water and i got obsessed with the idea. september trade numbers. will the data reinforce global you can't do this in a kayak. growth or will provide a reason to be hopeful? the beautiful part about the schiller x-1 is there's no learning curve. the expected forecast is to rise you get on the bike and 12%. immediately you realize you're sitting on a bike saddle and .xports are expected to fall there are handlebars just like the bike i have been biking since i was 6 years old. this uses twin props that are controlled at the handlebars so it really eliminates the need those figures are out and about for a rudder. 40 minutes. what is happening in the currency markets, the japanese yen very strong out of the gates the average person should be us morning, and gaining. those figures are out and about able to do five to six knots per up -- hour on the water which is 7 to 8 miles per hour. gates this morning. the one thing you will never see dating against the euro -- gaining against bureau. riding a bike on a mountain or risk aversion is seeing money flowing to safe haven assets. down the road is a sea lion or dolphin. i found sea lions to be very
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curious about the bike. i have been surrounded by eight those are the stories up -- or ten of them popping their driving your forex markets this morning. heads up. yeah. for me it's a delight and smile samsung, it has that people have on their face when's they see this crazy guy on a bike. developed new wi-fi technology >> that delivers much faster data transmission. taking a look at what is going on. what is the secret? -- you only translate and i, will we translate data -- samsung is using 60 gigahertz frequency. it is not commonly used. before, they could not overcome the data loss. -- laws. they will try to make it available to everyone next year. we know that this is a lot of talk.
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gigahertz and gigabytes. you have a smartphone, i have a smartphone. >> mine is not that smart. talk. if i want to give you the movie, it will take one to three seconds. before, it would take 15 seconds. uncompressed high definition video, you'll be able to stream not in real-time. in real-time. >> the timing is pretty good, isn't it? if i want to giveoperating prog hit. this edge in smartphones, wireless technology becoming faster, it is good news. orderly operating profits plunged 60% from last year. there smartphone business tracking down profits. they have not been able to compete well with chinese rivals.
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analysts are saying samsung will have to rely more on the semiconductors business. that will take a bigger part of profits. samsung has announced it will build a chip plan for about $15 billion. >> thank you. break. to take a yum! brands opening more than 6000 k of c and pizza hut restaurants -- kfc and pizza hut restaurants in china. does it have the right recipe for myanmar? ♪
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>> we're live in hong kong and this is "asia edge." captioning made possible by bloomberg television] >> hong kong protests, china sharing its strengths, beating exports and chip stock tumbles spreading to asia, tanking market in taiwan. also coming up in the program, k.f.c. heading for the streets of myanmar.
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yum! brand succeeded in china. we will be asking if it still has the recipe for brand-new markets. >> i'm watching the markets for you as we kick off a new trading week. google equities, things could be better but no, fairly big sell-off today. the global sell-off we're seeing following a drop on waurlt friday. the worst weekend for stocks in the middle east in get this, four years. bargain hunting, put off jafment pan close today. that will pay catch-up tomorrow. asia pacific now in a technical correction. aggregate to everything that you see here on your boards. australia, more or less eight-month low here. south korea seven-month low. hang seng four-month low. soas
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>> a show of force, hong kong police moved in to clear the barricades. beijing andealthy, the imf agree about china's slowing economy. on the menu and myanmar, this kfc have the right recipe? let's get you back to the streets in hong kong. those protests with scores of police removing barricades and taking back government property. what is happening?
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right now, right behind me, these professors are rebuilding, reinforcing one of the barricades on the road right outside the government headquarters. police have been removing barricades this morning. they have removed them from three or four sites already. there are several roads the protesters have blocked off. they ran to the third week of protests and a blocked off several main arteries that go in and out of the financial district. will he stated removing them this morning because -- police started moving them this morning because they said they were not being manned by the protesters. worried they will remove them as well. concerned and are
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they are trying to reinforce what they have. they've been calling for supporters to come back. to bolster the ranks. one of the pro-democracy lawmakers is the chairman of the labour party and he says he is estimated 1000 protesters this morning. they're calling for more people. he does not think the police will try to move protesters today. right now, a lot of activity as the protesters try to protect themselves. >> thank you very much. we will take a look at the impact this is having as far as equities go. hong kong down 1.6% year to date. >> some commentators would say, look at what is happening in the equity markets, it is really these valuations are playing a
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little downside catch up to reality. you have europe, china, and the u.s. couldficials saying it push back the plans to tighten monetary policy the cause of what is happening elsewhere. equity markets continuing to decline. taiwan leading the declines. because of the horrendous session across the chipmakers. shanghaiseng and opening up to a broad base selloff across the region. let's get you to the opening levels. hang seng and shanghai composite .
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has not done a lot over the past five years. casinos, a few things. .ou have moody's an intake decline in gaming in september his credit negative. earnings have continued to fall. challenges will be more acute in 2015. marketing is coming to the market. what we are talking about, there is a stock called get nice. it is a firm that does a lot of things. but as live investment services
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-- it does a lot of investment services. repair for a significant drop in first-half -- prepare for a significant drop in first-half profits. one other stock, agile properties. 25%. what is most important is that underve the chairman control. stay at aered to designated revenue of september 30. what are people saying? , dbs cutting the outlook for the stock. stock --ce refinancing refinancing price.
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we're down 24%. >> china on the agenda in washington. beijing and the imf agree there is no need to worry about the slowing economy. stephen engle is in beijing. everything is a-ok? get fixated and focused on these monthly numbers. the numbers have not been great of late. we will not hit the full-year target. the imf and others, the authorities say it is ok. more in to be a bit harmony. the slowdown in china is considered healthy and there is no immediate need for further monetary easing. need forated the
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prudent monetary policy. that has been -- they have been maintaining a prudent monetary policy and steady economic growth. on friday, the imf deputy china's also said balance between expansion and structural reform is the right mix right now. property, other measures have been showing glowing growth. policymakers seem to be focused on obtaining employment instead of cranking out the goods in the factories and stimulating to fiscal measures are monetary measures. china has already achieved and employment target for the full-year the sure, saying a stamina and perseverance are as important as speed and economic policy mix.
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weakening property demand will this yeara's economy to about 7.4% growth. that is below the 7.5% target set by the government. the pboc chief economist says the government will not need to do a big stimulus as the job market looks pretty stable. the economy is probably going to grow right around 7.5% this year, bang in line with what they said of the target a year ago. they could dip to 7.2% in the most recently completed quarter. >> thank you for that. let's take another look at some of the other stories.
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samsung says it has developed wi-fi technology that is up to 10 times faster than what currently is out there. this would enable a one gigabyte movie to be transferred between devices in just a few seconds. hd videos can be streamed in real-time. technology could be ready as early as next year. the showdown is looming between pacific and its pilots the seat after the airline's latest pay offer was voted down. 31% rejected the offer -- 51% rejected the offer. if talks break down, pilots may vote to work to rule which could disrupt operations. air france has thrown down the gauntlet to unhappy pilots saying it will create another low-cost carrier if they refuse to support the expansion. air france says a simpler option
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would be to expand, but new subsidiary is a backup plan. those of the top corporate headlines this hour. a pioneer of emerging markets yum! brands has its sights on one of the largest great frontiers. myanmar.lking how much do we know about this land? >> coloneln question sanders may have found himself a new home. localrands will tie with family. there has been speculation for at least a year that yum! brands -- that is not surprising. global fast food players are eager to make inroads.
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increasing wealth among its people. a lot still to be tapped. one company that succeeded is the thailand's group. south koreans barbecue chicken shane has also -- ticket chain has also -- chicken chain has also done that. the restaurant market is worth $3 billion. growth is expected to be very fast. that.nk you for we have loads to come on the program. europe's biggest defense company has a big man for asia -- a big man for asia. -- plan for asia. ♪
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x equity markets on the way down
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. following the trend of the selloff we saw on friday. extending this round as far as equities go from federal reserve officials saying the global economic slowdown could be severe enough to delay interest-rate hikes. we are seeing depressed stocks, singapore not bucking that trend. the fed is on track to into bond purchases this month, the so-called tapering process. hong kong, let's take a look. the protests continuing. 6/10 of 1%. it is all about police clearing out there a case near some of these -- barricades near some of these protests. these pictures are from the
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central district. barricades,ing some visibly out in force as they have not been in the last 14 days. that is a we have at the moment. down by 1.7% on the year to date basis. gradually being dismantled, but there is some talk of the policing they will not be clearing these protesters. that is all we have at the moment. the chinese premier says it has started a three-day trip to russia today. they will sign a range of deals in the fields of energy, finance, and transport. releasing production numbers on wednesday.
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increasing, it remains bullish despite a market downturn. on thursday, the 65th open tournament. million prize. fans will want to get a good view of the action. it is in the northern territories of hong kong. the iphone 6 released in china and india on friday. it will have to compete with cheaper smartphones popular in both those countries. our next guest runs one of new york city's electronic companies. he is the chief executive of palace. thank you very much for joining us. what brings you to singapore?
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today.ingapore its firstugurating innovation hub in order to create more value to what we do. idea is to marry european thinking with your corporate culture of asian thinking. how does it work? technology. lot of a lot of infrastructure, electronics. we have a booming market here in singing for -- singapore, a lot of great assets with academics, great clients. we want to bring that together and create more solutions dedicated to our clients in
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singapore and the region. >> infrastructure, that is a big market. lot of countries are desperately in need of it. indonesia, india, the philippines. what are the solutions you are providing? >> we're trying to provide secure solutions. requirements.y , air trafficiation control systems. there is a need for technology and safety and greater traffic management. >> you are in this part of the world. growth opportunities presenting themselves here.
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we have had mary of draghi talk about -- mario draghi talk about the growth story losing its momentum. you have to pursue these new markets, to you not? improvementa slight with the euro to dollar rate. from where itost was six months ago with respect to the u.s. dollar. there are talks in europe of a big infrastructure program which would be managed by the new commission. of newlion euros infrastructure and programs. >> it is about innovation. what are you innovating in particular? of existing number technologies, future
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technologies were more innovation is needed to a better products, better services, better solutions for our clients and for the end user. of systemsrenovation here in singapore. it can bew congested at the peak hour. we're working hard with the local authorities in order to improve. to improve the number of passengers which can be carried by the rail system at peak hours in singapore. something that is essential to the lives of billions of people. percentage of your overall business is in the asia-pacific? >> right now, our new orders are
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located more than 10% in asia. we want to double that number in the next five years. >> thank you so much for joining us. the chief executive of thales. joining us from singapore. we have to take a break. we will take a look at taking cycling to new depths. some variety for the daily commute. ♪
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>> it is monday, october 13. fed officials say we mobile growth could -- week global
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growth could cause a threat to the economy. that is the warning coming from the fed vice chairman, speaking at the imf annual meetings in washington. officials echoing the concerns of the ability to withstand weakness and a stronger dollar. the imf in beijing say there is no need to worry about a slowing chinese economy. they agreed it is healthy and there is no need for further easing. china needs to maintain prudent monetary policy. scores of police are on the streets in central hong kong clearing barricades as a democracy protest enters its third week. embattled chief executive rejecting demands for him to resign, saying it would solve nothing. something completely different,
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if you are lucky enough to live and work by the water, or maybe a new way of enjoying the commute. it may keep you fit as well. this is water biking. i am the founder and cto of schiller sports -- ceo of schiller sports. i was talking to a friend of mine who lives in oakland. i asked him if you never ridden a bike from the east bay to san francisco. his answer was no, you can't. methat moment, the idea hit that surely someone in the world had found a way to put a bike on the water. i got obsessed with the idea. you could not do this in a kayak. the beautiful part is that there is no learning curve. you get on the bike and you are
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sitting on a bike and their handlebars just like the bike i've been writing since six years old. -- writing since sixers old. these are controlled at the handlebars. it eliminates the need for broader. rudder.a the one thing you will never see riding a bike on a mountain is a sea lion. i found sea lions to be very curious about the bike. i have been surrounding by about eight or 10 of them. it is the smile that people have on their faces when people see the crazy guy on the bike. that and all of the top stories, go to our website.
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check it out, bloomberg.com. saying there is no cause for concern over the slow down in china. trade figures are due any moment. ♪
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>> we are live in hong kong, everybody. this is "on the move." police diploid to clear parts of occupied hong kong. police d putin will be attending the
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next summit. we're going to be in sydnie and of course right here in hong kong. the concerns about a global economy playing out amid concerns of the asian pacific. david? >> the economy has been slowing. all places where we are seeing declines across essentially every benchmark across the nation today. i do believe we have what, the latest chinese trade numbers. let me send it back to you. >> indeed we're going to go to these numbers. david. steve, what is the picture being painted? >> fairly robust trade numbers, actually. much higher than expected. exports in september rising 16.3%. we were expecting a 12% rise. the previous month in august, it was 9.4%.
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15.3%. significantly higher. imports also a surprise, uptick 7%. that's the most since february. might add the export size, 15.3%, the biggest gain in exports we've seen since february of 2013. it leaves the trade balance lower than what we were expecting. $41 billion u.s. this comes after the previous month of nearly 50 billion but the top line has to be exports higher than expected. the most since february of 2013. imports up 7%, the most since february of 2013. imports we were expecting, the consensus estimates was for a 2% fall in imports, so imports up 7% so something is going right internally. people are importing more raw materials, if you like.
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exports, that paints a better picture for the ect port scenario overseas, perhaps in countries like the united states. >> thanks for that. steve there in beijing. i guess this normally plays out when it comes to the aussie dollar. >> 7.29. we are still seeing gains there that is more of a muted reaction. shanghai, not really anything. 23.44. index 2,3,000 at this point. a little bit of a bump there. trade numbers, what really surprised a lot of people were the import numbers. we were expecting an increase for exports. for imports, programs why?
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we need to look deeper than the numbers but let me show you china's largest trading partners. if you have much weaker currency and let's get a chart of that. that bodes well for exports. you do see that for september. we had been trading at fairly weak levels for the common currency. .28. 12, 1 china also also been trading at a fairly weak level. dollar-yen. there we go. hat's two of china's biggest exporting countries. i forgot to mention, by the way. let's get the aussie dollar up there as well. also, fairly weak into september. there we go. that's it. that's probably why. that's one of the reasons why. i'll leave it there.
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>> all right, let's have a wander out onto the streets of hong kong. police interest -- there removing barricades and as they put it, taking back government property. a reporter joining us. a domestic sea change today compared to what's been happening in the last week or so, right? >> yes, definitely. a lot more police out. in fact, police were not really in view in the last couple of weeks after that september 28 day when there was tear gas and pepper spray used. since then there's been a very light police presence. today, significantly larger numbers of police in uniform out on the streets, removing barriers and barricades from several locations and three or four roads around the government area.
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this is one of the roads that leads into the central district of hong kong. the barrier is behind it and a lot of protesters have moved themselves right in front to make it for difficult for authorities to move in if they try to and campedout along there road divider here. police say that they're reclaiming government property. they will not see -- -- say that i clarified they will not say they're removing barriers or barricades and also not protesters. they're removing the barriers that have been used by the protesters belong to the government. they've finished for today and have no further instructions at this point from anywhere commanders. right now they're holding tight, as they are. now, the chief executive,
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chun-ying leung has said he's not going to resign and also saying that wouldn't do any good anyway, correct? > yes, he gave an interview to one of the networks that he's not stepping down. he thinks that wouldn't help the protesters and this is what he also had to say -- >> we hope to negotiate to achieve universal suffrage in 2017 but if the precondition is to neglect the basic law of china's decision, everyone knows that the chance for egotiation is close to zero. >> he mentioned that china's decision and he means the policy that was announced on august 31 in which basically they put forward a couple of
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nominees which the 5 million or so voters in hong kong can select from and this is the lan that the pro-democracy campaigners want to change. >> that's the thing. have the protesters responded to these comments from c.y. leung? >> well, the protesters basically say that the hong kong government is accountable. they say even if leung doesn't think he can do any good by stepping down, he should because that is the right thing to do. the hong kong government is accountable because it misrepresented what the hong kong people wanted. so this is why protesters say the chief executive should go and he should hold himself accountable. right now protesters are calling for supporters to join the ranks here and also in one of the hotbeds on the other
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side of hong kong harbor. of course, they're concerned because the police have raouxed barriers already. they're concerned that the protesters they'lls would be next. one of the pro-democracy lawmakers estimated there were about 1,000 people out this morning. they -- there may be possibly more joining today. back to you. >> thank you very much. that was rosalind on the streets in the central part of hong kong. it's been confirmed that adimir putin will attend the g-20 summit in brisbane. was there a real chance that putin would have been shut out? >> it was certainly be talked about. there was pressure from some areas of the australian government to lock the door on putin. of course -- obviously they're not concerned about russian's activities in the ukraine but
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there was a shooting down, 30 australians aboard that doomed flight and the shooting took place just before the g-20 trade ministers meeting here in july. there was a lot of talk about whether it was possible to bar meeting om the leaders in november. no one was really sure about the rules but the australian treasurerer has received confirmation that vladimir putin will be in business bane in a month's time. there was a consensus among g-20 nation that is he should be there and even the u.s. president and german chancellor had very strong views that putin should attend. beside, he said australia doesn't have the power to unilaterally shut the door on any one nation. >> mr. putin will be in business bane as you're suggesting but i guess he's not going to exactly get a very
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warm rerepresentation -- reception there, is he? >> no, that's pretty unlikely. that's going to add quite a bit of color and tension to what's typically a dry meeting. anyone who's covered these knows it's certainly one for the policy wonks but there's going to be a lot more interest now that putin will be there. they received confirmation from the russian finance minister that putin was going to be there. he said mr. putin can expect some very frank dialogue, unquote, when he arrives in brisbane next month. >> thank you very much. paul allen ahead of the business bane g-20 meeting next months. japan's two biggest carriers have canceled more flights today. strong winds disrupting flights for a second week.
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thify typhoon is still gusting around 1 0 kilometers per hour. authorities have issued ewelcome weighs -- evacuation warns to 150,000 people. cyclone hudhud is reported to have killed at least six people, causing wild spread damage. the system crossing the coast of india with winds of up to 200 kilometers per hour. nearly half of people were moved away from the coast as the storms approached. a change in the weather has helped to clear the skies in northern china. pollution there rising to 20 times the internationally recommended levels. the reading for p.m. 2.5 partlies topping 500 in places. health organizations saying it's just 25 now.
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the wind helping to improve the situation. warnings coming up that a delay in possible rate hikes is on the cards. we'll have a look at the implications on the currency market. we'll be back after this very short break. ♪.
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>> this the on the move streaming live from hong kong. we're looking at these chinese breaking numbers at the top of the hour. exports have -- are up more than anticipated in september, inkruise creasing 15.3% from a year ago but imports also
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helping the global demand in what about is and remains the world's second biggest economy. investors agree that the se acceleration in china is healthy and the bank of china needs to maintain what it called pursue dent monetary policy. amid steady growth and mild inflation. let's have a look at that in the background. especially the global economy. matthew diamond of head of sales for asian pacific. it's an online foreign exchange trading group and he's in singapore. matthew, thank you for joining us. what do you make about the comments not just relating to china about moderating growth but what are the implications on the global economy when it comes to the dollar in particular. does the recent bull run continue or is that going to run out of steam? >> good morning. i think a correction was neaded
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-- needed. a correction is healthy. the truth is that the central team spent -- since probably the end of august, beginning of september, there are a prospect for higher interest rates sometimes in 2015 in the u.s. i think this has not changed yet. we might have heard stanley fisher saying that the fed will probably, maybe delay rising interest rates but we didn't hear that the fed was not going to raise the interest rate so probably still very positive for the u.s. dollar, specifically against the euro. so where the s.e.b. is probably going to extent it's policy. >> but they're saying that the growth momentum story in the eurozone is losing that momentum. now, the thing is, that's putting it mildly. doesn't the euro need further
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to fall against the dollar to make the european economy more competitive? >> yes, well probably. we believe it's going to take this road. an interesting fact is that the e.c.b. is probably, you know, scheduled to raise, to probably increase its balance sheet by another trillion euro and the last time that this happened it was totaling about three trillion yufereo it was in 2012 and the euro-dollar was trading at 12.18. so we believe the euro has further room to decrease. >> by how much? >> probably under the 1.20 level definitely in the next coming months. >> i mean, europe is now proving to be one of the biggest concern -- concerns, is it not, when it comes to the global story? >> yes. when you see o,
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that germany is also starting to stagnate, which is the corps engine of europe really, then you have to start to worry, definitely. >> the other story in recent days has been the bank of england suggesting that despite the falls we've had to the 1 .60 handle we have right now that sterling remains appreciably overvalued so what is fair value? -- val? i always thought look 1.50, 1.60 seemed to be the norm. >> i think i would have to agree. around 1.60. i think on the euro sterling currently. 79 it would probably go towards 76, 76.50. for us it's been a great month
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in september. volume is back. volatility is back. it's been a hard year for the industry. there's been a definite decline in acquisition on our end but the important fact that today we're very committed here in asia. we have two offices here, one in hong kong and one in singapore and obviously we're not just a middle east company anymore and to date we've managed to achieve to continue to expand our presence and to do so we're now pricing our asian clients from tokyo. so this is very important fact for us because we see the region booming. we see additional growth for us here and we still believe that china will remain the main engine of growth for the region and probably globally. >> speaking of tokyo, we saw the yen creep towards that 110 level against its american
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counterpart. it had a peek over and decided no. do we visit 110 anymore soon? >> no, the situation has changed. if you remember when dollar similar yen was at 80 which was when we decided then to move into the market. and we write this and we talked about that. it's a long time now. and the two major powers in japan, which is the political prime esented by the minister and the economical one or the monetary one. the two centers of power were aligned to have, if you want, a weaker yen. today seems like it's changing. i think, i would believe they're not as keen as before to see a weaker yen. however, on our end, we've been seeing our clients, especially our japanese clients getting ut of the typical trailed on
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kiwi/yen. i think it's very interesting right now. mathieu thank you very much indeed. we have to take a break but coming up next, new and faster w. -- wi-fi technology. on the move returns after this short break. ♪
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>> we're having a look at some
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of the big events we're coving for you this week. chinese premier starts a three-day visit to russia, expecting to sign a range of deals in the fields of energy, finance and transport. the number of australian liners to release production numbers on wednesday. rio remains bullish despite a market downturn. heading to thursday and the golfing world in focus here in hong kong. the field for the 56th open tournament is headed by angel jimenez and ernie els and the iphone 6 is released in china and india. on friday. it's already sold millions in other markets. apple's major rival is samsung. it's trading up today in the market. there's news out there that dropped -- develop that would new wi-fi technology will allow much faster data transmission.
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sherry is with us now. it's going to be five times faster than the current stuff? and, and the way we feel it will be 10 times faster. i have a movie, i'll send et to your device, it will take less than 10 seconds for one gigabyte movie so that's super fast. uncompressed high-definition videos can now be strained in real time. how can they do this? because you and i are using 2.5 devices. ga hertz >> i'm sure mine is much slower than that. >> five giga hertz, another frequency not very commonly used and that's allowing people to make use of wi-fi without interference from crowded wireless services.
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samsung seems to have overcome those issues and they're saying new possibilities have been opened up and they're open hoping to make this technology available as early as next year. >> i hope it doesn't move very quickly because their operating profits are seriously under pressure. >> plunged 60% from last year. their smart phone business is dragging down profits. some conductor business is doing much better. >> thank you very much. up next, indonesia's leading airline orders more planes to satisfy predictions about travel demand. we have the details coming to you live from jakarta. "on the move" returns of this very, very short break. ♪
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>> rebound china. imports topping estimates, falling to $31 billion. a show of force, hong kong police move in to clear the 's show of and taiwan asia because of chips. wherever the taiwan ease market is dependent on where technology stocks are going. in this case, we're looking at tech components such as chip makers.
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what's going on? >> semiconductor companies. chip makers and it's filtering into a lot of contract machiners. l.e.d. makers, for example. you look at what was said on friday by microsoft technology warning after an industry correction. that doesn't bode well for demand for chips. you see the decline continues across p.c. sales, for example. taiex index.he down 3%, 4% for the entire sector. you bring it down further, tech equipment. let's see if we can great a breakdown. 170 more or less commoong everything. really dropping there. whether or not some of these companies are less exposed, i guess today it doesn't matter
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looking at the broad selloff. it's to a lesser extent. south korea, we're down to about .7%. that takes to us a seven-month low for the kospi index. i want to focus on the chips classes and look at commodities right now. the dollar weakness on the back of those comments coming out of -- at least the latest one, fed vice chairman stanley fisher, they could push back tightening. he was the latest really and two or three other fed demands of the expectation of the market, given how strong the dollar has become and what it does to the recovery in the u.s. that's what we have on the u.s. dollar. three--- two-day chart. 89.22. dollars, now at
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let me give you a two-year chart.
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