. >>> it's the day of the 18th anniversary of hong kong's return to china. as with other years, a demonstration opposing some of the hong kong special administrative region and government's policies is taking place. the march always begins in victoria park. according to the organizers, 510,000 protesters participated last year. many of them gathering several hours before the start. >>> in september, 2014, the world witnessed the so-called umbrella revolution. named after the way pro democracy marchers used umbrellas to protect themselves from tear gas. students and citizens occupied the streets for 79 days, demanding true universal suffrage. not one of their demands were met. the lack of change created a sense of hopelessness. pro-democracy groups disbanded and some residents began resenting activities that disrupted daily life. ♪ >> the annual ceremony to mark hong kong's return to chinese rule was a lavish event. 1200 guests from china and overseas attended. hong kong's chief executive ying was critical of prodemocracy faction and their revised electoral

. >>> it's the day of the 18th anniversary of hong kong's return to china. as with other years, a demonstration opposing some of the hong kong special administrative region and government's policies is taking place. the march always begins in victoria park. according to the organizers, 510,000 protesters participated last year. many of them gathering several hours before the start. >>> in september, 2014, the world witnessed the so-called umbrella revolution. named after the way pro democracy marchers used umbrellas to protect themselves from tear gas. students and citizens occupied the streets for 79 days, demanding true universal suffrage. not one of their demands were met. the lack of change created a sense of hopelessness. pro-democracy groups disbanded and some residents began resenting activities that disrupted daily life. ♪ >> the annual ceremony to mark hong kong's return to chinese rule was a lavish event. 1200 guests from china and overseas attended. hong kong's chief executive ying was critical of prodemocracy faction and their revised electoral

hong kong and singapore time. coming up, why the hong kong dollar is at its most vulnerable in years. a check at the latest currency news when "first up" returns. ♪ ♪ angie: checking other stories making headlines. a gunman shut down a u.s. tv reporter in a live broadcast, and died after shooting himself. he killed himself carrying out the attack and posted the video on facebook. he was fired from the station two years ago. he wrote to a new york newsroom in which he claimed discrimination. he described himself as an "human powder keg." the bodies of 51 african migrants have been found off the course of libya -- off the shores of libya. about 430 migrants were saved. 10 rescue missions were carried out wednesday off of libya. it is estimated at least a quarter million migrants have crossed into libya this year. china, myanmar, and thailand have lounged -- launched joint mekong. on the the mission began from a river port in china's province. -- in a chinese province. china says the latest control is to coincide

angie: it is 7:30 in hong kong. that is a live look at victoria harbour as we continue the week under gray skies. we are 30 minutes away from the opening of trading in australia, japan, and south korea. you are watching "first up." the top stories this hour. google is changing its structure to put clear water between its business and long-term goals. it will be led by eric page with the cofounder sir j brennan becoming copresident. surged in after our trays. warren buffett is closing in on one of his biggest deals. has acquiredthaway the maker of aerospace and industrial equipment for more than $37 billion. it is going to pay $235 per share in cash. that is 21% more than friday's closing price. the deal was expected to be completed in the first quarter of next year. there is a new mood of optimism in chinese markets. helpedf possible mergers shares rally 5% on monday. industrial and energy stocks had gains from the speculation. reports helped a number of associated companies surge. zealand,in to new where we see no

this could have ramifications for hong kong. guest: quite frankly, one of the reasons for the decline in the luxury goods market is you have had a 40% devaluation against the nba in terms of yen in japan. luxury goods shoppers are going to those markets which are cheaper than hong kong. i think the pboc has sat for some time that they wanted to then the trading range of -- we have only seen that in the last day or two. rishaad: let's talk about retail expanding into commercial property. a lot of people are bullish. guest: yes. the office market is really in the doldrums for about 23 years. -- 2-3 years. about china policy. the opening up of a policy --the openingna up of the shenzhen can i program is bringing a heck of a lot of brokers and so on into hong kong. that is where we are seeing the demand in the office market. vacancy rates are fictional. the lowest we have ever seen. rishaad: those people need a place to live. the asian extract coming in, -- asked pat coming in, but are you seeing that much growth when it comes to pr

bloomberg stephen engle has this report from hong kong. china is entering a new regime after devalue waiting its currency -- devaluing its currency, a move that may be in line with efforts to get the imf to include the rmb in the fbr an basket. tois sending the currency its biggest one-day loss since china unified rates in 1994. it is calling it a one-off adjustment and that they plan to keep the you want at a stable and reasonable revel. why the china do this now? july exports have been falling while japanese yen have been appreciated. up until tuesday's move, it kept yuan relatively stable, but authorities tuesday decided to hide the expressive trade rate for the devaluation. betty: for evidence of the china slowdown, all you have to do is go to ruffle street in hong kong. late last year, that was one of the world's most expensive streets. a command of the highest retail brand in the entire globe. now retailers like bird be in gucci -- burberry and gucci are pushing owners to lower rents as sales plummet. it even closed its russell stree

we had one in hong kong. no, we will getting to grow langham hotels and resorts and the luxury sector. we saw tremendous opportunity and the luxury-- rishaad: you have three. cordis and eden. eden is part of the young millennial traveler who continues to use hotels in a different way than people in the past. rishaad: let me ask you a question. you had langham every branded eden. robert warman: we are in the process of change over the eden brand. rishaad: have you seen any uptick in revenue per available room with eden as a consequence? robert warman: we have not a rebranded eden it yet. it will take place at the end of the year. we look at langham hospitality group and asked what does the future? industryllish on her and the long-term. which segments did we feel would be important to be into as a business? will focus on langham hotels and resorts and grow not only here in asia but europe, middle east, and north america. we then saw this incredible opportunity cordis. our initial focus was a lot on china and t

. , driven by the% hong kong office, by strong retail in china, and hong kong residential. we are looking comfortable at the second half. a lot of your hong kong leases in shopping malls expire this year. +++ renegotiation of leases? we are hearing from luxury brand that they no longer want to pay expensive rent. there is undoubtedly some softness. no different from all the other shopping malls. we think there are conditions of softness that will continue into the second half. we do not think that is going to change. when the lease renewal comes up, we will entertain and unjust the market. benchmarks, are new a 39% discount on one property. >> retailers are cautious. they are cautious about expansion at this stage. quality locations will remain in demand from all sorts of retailers. do you see a shift in retailers in one specific place? >> there will not be any dramatic shifts. most retailers want to be in a specific place, but the fundamentals are very strong. it is easy to get to, easy-to-use, supported by premium hotels. we are optimistic long-term. city plaza in island

i was born in hong kong. spent time in hong kong and macau. at the same time was educated in north america. i get a good sense of the best of both worlds. the formation of melco crown 10 years ago was based on that belief. how do i marry the best of the east with the best of the west? betty: it is easy to see the asian touches when you walk around his companies. the dragons. the feng shui that he incorporates into the layout. lawrence: when we first started, it was gold and iron metal bars. it resembled the bamboo, but then feng shui came in and said no, no. it has to be real. betty: but adelson, who once called himself the richest jew in the world, says there is no monopoly on culture. sheldon: by vast majority, most of our employees are chinese. my chinese dealers and my chinese service people interact with chinese customers. what is the difference? betty: they would say they know the people. they are chinese. they know what they want. sheldon: i can't be a successful businessman if i don't respect who and what my customer is. the resorts ar

it is no 3500 level in hong kong. another change that also occurred is the blood turning more bearish in hong kong. a lot of the companies have been seeing pockets of resilience amongst the concern, as the u.s. it's closer to raising rates, concerns about china increase. rishaad: tell me something here. you mentioned, what about the chinese -- they are getting out of there. they're getting out of the competent and the hm market as well. >> a lot of the rally we had in april wasback in spurred by speculation that the is pouring millions and billions into the connect. that whole trade has collapsed. what we've also seen is that the richest traders, more than 10 those numbers fell by 28% last month. -10 million yuan. the only ones buying have the least money, or the government. that is not a good's line. sign.ood you want to see those heading in a different way. overseas assets will look more attractive, and we have seen that strengthening in the property market which provides an alternative to what is a pretty battered

hong kong exchanges also under selling pressure. i was here two weeks ago, talking to the ceo of hong kong exchanges when the results were released. he was saying that the outlook for the market moving forward was a lot more buoyant following the big equity route that we saw in july and when we started to see intervention into mainland stocks. he was also saying that the climate for ipo's is a lot better. you would have to say today is not a great day for hong kong exchanges. quite a lot of selling an activity here. the phones are buzzing behind me as we continue to see these downbeat rides in the markets. rishaad: you were at the stock exchange a matter of weeks ago, talking to charles li. he was pretty of the if i -- upbeat, if i recall correctly. >> yes, he was. a sickly saying that they had the first ipo since the equity rout on july 8. we were here for that as well. it was one of the stops on friday that actually fell from its ipo listing price. so all five of the big $800 million ipo's at the hong kong exchange have fallen bel

. , thealia, and hong kong past 30 minutes. turned around a lifting and we are up about the report 8%. 0.6%. banksnks and their, -- there, a quick look at him over. it should be the biggest rally. we are seeing how it plays out. very heavily weighted stock. the city of 4%. let's break it down very quickly. which sectors are lifting the benchmark at which are limiting the gains? theumer services are down, weakness in japan. oil and gas understandably given the drop in oil prices. that is moving. up.ncials, most of -- volumes are very heavy that things are looking much, much better. where do we end on a day like this? see.ve to wait and rishaad: the reverse taking place. now, the stock exchange. i hear there were tears when things turned positive? juliette: absolutely there was. , 9:40 a.m.into trade hong kong time and on market had opened earlier by 1%. we heard a lot of cheers from the trading room floor. it was 10 minutes later, one point 3% higher is certainly a lot of cheers coming through. we are also hearing more activity

china's stock fall off is hitting ipo's in hong kong. they are the worst performing index this year. new offerings have dropped 30% lossesfer prices after in the benchmark index reached the most extreme levels since the 1987 crash this week. it thing that could make more difficult for firms to sell shares later this year. geo securities in hong kong, no one is interested in buying anything. so there will be fewer companies coming to hong kong. it puts a damper on the start for ipo fundraising in china. the head of the bank of japan says markets are being too pessimistic about the health of china's economy. the governor says china is likely to achieve 6% gdp growth the year, but warned that risk in global financial markets and emerging economies, he understands the concern. roda is optimistic about plunging currencies, saying there is no currency. economy, there have been changes since quantitative easing and clear, positive feedback with wages and inflation. in the u.s., the fed is dialing back expectations of a rate hike next month. sta

and being launched today in hong kong. a very tall mike miller joining us in the studio this morning. 6'8", i am so glad we are sitting down. tell us about this drink. what does it stand for? it is aspirational. we feel it connects to the youth culture, basketball, skateboarding, fashion, lifestyle. we are excited about being here. angie: it is a very saturated market in the u.s. when it comes to youth culture and these types of drinks. why are you bringing it to asia? >> i think it is a gateway. that is step one. the energy drink market mimics the popularity in the nba. are over 300 million chinese playing basketball here. that is the population of the u.s. mimics thethe growth popularity of basketball . angie: this sounds like something from your business school days from the university of florida. very interested in how you are transcending your. verye trying to join a who has looked into the business side of things and how to use the brand to build a business. >> i think it is easy. the best thing about business and ba

you are looking at polling stations opening now i 9:13 hong kong time. at 9:30 hong kong time. how big is the toyota operation in? tengion -- in tianj steve: i was -- craig: they make cars like the corolla, crown, vios. important operation in china because last year they cracked only one million units in the country for the first time in terms of sales. so 440,000 units, that is almost half of their local production in the country. they do have a small amount of output from japan that gets shipped into china. for the most part, if you are selling in china, you want to be building in china. toyota had that attack -- that tack. so any issue with production could be significant for the company. the chinese market has been pretty challenging for foreign makers. what impact could this loss production have for the company's sales from now on? craig: interestingly, toyota recently found its footing in china. there has been plenty of headlines for years about the japanese carmakers having trouble in that market. really since the issues you had with the geopolitical tensions between the

hong kong is expected to close in a bear market. talk to us about what is going on with the manufacturing data today. was that a surprise? think, for the manufacturing data, that was worse than expected. it runs counter to a lot of things we are seeing on the ground. things in the property sector underway for several months. that take-up is finally leading up inns of a pick construction activity. this number doesn't look good, but in the coming two or three months we expect the macro numbers in china to finally start improving. some anecdotal evidence of that coming in because of the big property companies are all in town at the moment talking about the first half results. clearly, something positive is going on even though the other parts of the economy still look very weak. caroline: there is talk later in the year when the next five your policy is set out. they could downgrade their ofrall views to in the realm 6.5 percent. where do you see growth for china this year? erwin: we are not worried about this year. we do think that co

hong kong -- singapore time. they will suspend production of the previous in thailand reportedly based on lower sales and a dispute with local authorities. they are recovering after theirday's report that plan to china will remain closed for two weeks after the deadly blast. if you still have some spare change, maybe called uber. they are looking to raise at least $100 million in china according to an offer sheet. inestors willing to put $470,000 could see returns as high as 109%. such payoffs to come with huge risks, especially in china where uber lags far behind its rivals. coming up next, making sense of the market chaos in asia. our next guest says settle down. the selloff is not the start of a bear market. ♪ angie: we will take a look at the korea talks. the standoff at the korean peninsula is over, at least for the time being. itsnorth agreed to lift semi-state of war and the south agreed to stop broadcast across the border. they said they will resume reunions of families divided by the korean war. a new

hong kong within 5%. nikkei in japan done more than 5% in europe right now the "spectacle: the astonishing life of ota benga" down 2.7%. lauren: the dxm bear market category. look at the dow down 350 points, a selloff of more than 2%. s&p down 34, nasdaq down 148 points. oil well below $80 a barrel hovering at 39 at the moment. gold not the safe haven to pay $1155. nicole: by the way, everybody has been flocking to gold lately but today not so much. used in the euro which is strained all on the idea why the feds won't raise rates in september. currency is so key. passes the u.k. pound japanese yen. nicole petallides the yield is 2.03%. )-right-paren the 10 year period nicole: date political news. vice president joe biden leaning towards entering the white house race. had a meeting with senator elizabeth warring over the weekend and senior writer draft biden 2016 was on fox news sunday talking about that meeting. >> talking to someone like elizabeth warring who's got incredible ideas on how to make the eco

values the company at $55.1 billion, hong kong dollars. it is looking like it could be a win for those that got in on the ipo. track1, there was a real that killed 40 people. that was blamed on mismanagement on the train. said it wasy signal partly responsible for the accent -- accident but it has taken steps to improve internal control mechanisms. this company manufactures rail transit systems. a lot of ceremony on the stock exchange at market time. shery: we are looking forward to updates from the hong kong stock exchange. regulators said to be resuming examination of private shares from today. they were suspended a month ago during the stock rout. david has details. -- we aret we know is -- a bigbout the csrc step towards normalcy. weekow that, starting this , we have no more than five applications being reviewed. no more than 10 starting this week. it will be fairly slow. that means it is encouraging. ss, private share sales was really the most popular way for chinese companies to raise money. valuations were very good. potential inves

we are seeing that here in hong kong. the insurer stocks under quite a lot of selling pressure on the hang seng, overall in the red. we are seeing things a little brighter in china, up by 0.25%. it has been another volatile session as you would expect in china. in terms of the h-shares in hong kong, a bit of an exit is of those because of this weaker yuan. investors feeling that their efforts aren't worth as much, foreign investors fleeing. that is why we are seeing weakness there. on the currency page, we are seeing the weaker ringgit in malaysia impact malaysian stocks, down by 1.6%, making them the worst-performing market in the region today. in taiwan, in the philippines, and in india. we have seen a few bright spots, including thailand and new zealand. some gains in utility stocks there. japan also lifted by utility stocks and health-care stocks, sending the nikkei up around 0.5%. south korea way down today by samsung. its index closing down by around 0.75%. i will show you some of the major market movers in the asia

live for us from the hong kong floor of the stock exchange. reversing declines across almost the entire region. let's check in with our southeast asian correspondent. things are looking much better right now. a couple of hours ago, i was a little bit tepid. benchmark southeast asia index rising about 2%, up for the first time in seven days. we have seen gains in singapore and indonesia. indonesia rebounding from a 2013 low. some say that the plunge has been too deep and it is time to buy again. singapore still hovers near fair territory. -- near bear territory. a risk of jeopardizing a bull run that stress for almost four years. in indonesia, extending its gain morning, the this second worst performer in asia this year. no refrain for the rupiah. here.are several concerns the slumping commodity prices among them. is -- they discussed what is needed to drive the economy and drive foreign investment. tell me what is going on in the philippines. yesterday, there was an accidental trading halt that quickly resumed. today, another trading halt. day

asia, 60% of the income is from hong kong. they used to be pretty good in that they had two engines -- europe and asia. one of the engines is not working so they are recalibrating. they seem to have a lot of focus on china. they have the most invested foreign bank in china. maybe they see something about themselves that will play out in a year or two. rout: how will the stock impact them in the future? emmanuel: in the second half, for sure. i'm looking for a long distant strategy that plays out. what do you have had is a tactical advantage for the first half of the year. shery: investment banking will take a big year, isn't it? not just for hsbc. emmanuel: investment banking itself has been a very difficult business because it is actually deconstructing a way for banks for more boutique houses and so on. as a business model, hsbc has the that does something else they are doing, especially as a commercial bank. the first half results show they have done well in the emerging been -- commercial banking front. as a universal bank

in hong kong, all five of hong kong's $800 million plus ipo's this year, now trading below their offer prices. a couple weeks ago, it has gone to a record low today. before i go, you mentioned the nikkei heading into the lunch break down by 2.1%. not a great day at all for asian markets. rishaad: getting to what juliette was mentioning, more worries about manufacturing in china. i'm going to let steve announce this. it is the lowest since the growth will -- the global financial crisis. stephen: this is the china manufacturing pmi. used to be called the hsbc. taking over the moniker of that pmi index, basically representing a survey of smaller private sector manufacturers in china. this is a preliminary number, but if this holds true, by september 1, this will be the worst reading in 6.5 years. that was the depth of the financial crisis, march 2009. there was a lot of pressure on exporters. we are now back in that territory. july was 47.8. survey for this month was 48.2. we got 47.1. it is not much of a surprise that the stock markets are down considerably. output decreasing. new export

china railway signal making a positive start to trading in hong kong. the great debate. the republican race is well underway. the 10 top leaders facing off with donald trump center stage. follow me on twitter. taking a look at the market where the looking at china markets are. a bit of weakness for australia. i think what we are seeing today is equities trade down. you are seeing fixed income. nothing is happening across the currency market. volumes are quite high. the u.s. jobs report comes out later tonight. this could well determine what happened for the rest of august into september depending on how strong that number is today. we are seeing declines, australia is down about 2%. any markets are doing a little bit better. chinese markets are doing a little bit better. the currencies are absolutely rattled. seeing more weakness short-term for the malaysian currency. rates 4.110 for this quarter. 0. 4.1 chinese markets, shanghai composite, that's your today chart. 3723. first dip in the waters if you will. china railway signal up 3/10 of 1%. not a resounding day. good d

kong. >> hong kong, hong kong is a very difficult challenge for the mainland because hong kong has a wealthy stable educated cosmopolitan population that has ever reason to want to have representative democracy. all the arguments that are made, more sophisticated arguments that why it's not ready for democracy. it's very difficult to come up with a reason why hong kong should not have direct elected officials. the mainland is very worried about it. they see such politics as potentially getting out of control to the degree that we might see it as a positive thing, could spread to the main lapped, -- mainland. they tried to allow without the actual choice, free choice by controlling the nomination process. and that is obviously going to be frustrating to many people in hong kong. will there be new protests, it's quite possible. i do think that it's a more complicated process than i have time to answer. i do think that some of the tactics were insufficiently insophisticated and i would have to get in discussion of the basic law and how they would work rather than moving away from the ba

in hong kong. you cannot see it because of all of the clouds there converging on the tip of the mountain. and little clearer as you get closer to sea level. 30 minutes away from the opening of trading in australia and japan. you are watching "first up." ♪ angie: the top stories. the chief economist at the people's bank of china may move in both directions following last week's valuation. he said all more oriented market will open the possibility of sudden fluctuation. he said last week's currency was merely temporary and the market has been stabilized. china's economy is growing more slowly than official data suggest. said it expanded more. it could explain why policymakers have boosted stimulus measures and devalued the yuan to shore up exports. wreckage has been found from an airliner that went missing and the eastern most province. the trigana air service was carrying 49 passengers and five crew when it lost contact. it was flying from the provincial capital to the city of -- poor visibility r

in hong kong. that is the sun casting a direct line of sight to us in the central business district of hong kong. it is a gleaming tower across the way. we count is down the 30 minutes away from the oh running in australia, japan, and south korea -- from the opening in australia, japan, and south korea. you are watching "first up." the top stories this hour, chinese markets fell the most in three weeks on fears the government is repairing to scale back support. more than 600 companies plunged as they lowered expectations for further easing on signs the property markets might be picking back up. the state agency wants to reduce its influence. the raonic enjoyed a reefer spike after falling -- the ringgit enjoyed a brief respect after falling. the malaysia turmoil is shaking up despite the prime minister recent cabinet shuffle. since aour high corruption scandal earlier this month. and police in tylan say they are confident to finding the man suspect it of plan -- in thailand say the our company and

the point is you can find stocks in hong kong, stocks in new york you can't find in hong kong. i think what we should be doing is looking at if you like a unified benchmark of all those companies. then people may not be so hit when those economies start to fall. zeb: so the arbitrage opportunity is not as lucrative as it was in the past. do you think we need to look beyond that in terms of stock selection? richard: that's right. if you look at the debate about the msci that we had about a month ago, are they going to bring china in or not, they should probably bring them in so that investors have the ability to invest in chinese-based stock markets wherever they are listed. it should be irrelevant where a stock is listed. yvonne: do you expect them to include them next year? richard: i can't imagine including them in its entirety but foreign investors can invest in the market to a certain extent. yvonne: some foreign investors are investing in the bond market as well. are you exposed to that? you are seeing sales records hitting records close to last year. richard: that needs t

huge gains in hong kong ended 3%. nicole: europe with 2% gains for the cac and ftse in the dx is that 300 points. lauren: and the u.s. will it come to the closing bell. dow futures by 190-point up over 200 earlier. nicole: basically pushing of september with international turmoil affected our risks at home. commodities, oil, 4025. trade for old holding steady at $1127 an ounce. trade trade the euro lower against the dollar as is the japanese yen. the canadian dollar. lauren: am now sitting at 2.15%. nicole: asia traders picked off right in that rally mode. u.s. stock index futures pointing to more game this morning. right now w u.s. stock index futures pointing to more game this morning. right now we are off the earlier hike up 194 points on the dow futures. tracking tropical storm erika with the first hurricane to hit the southern coast of florida. we will have the latest on that storm. you are watching "fbn:am." boring then i tried our best to give it a first look at morning markets and breaking news. we are here fo

kong. >> hong kong is a very difficult challenge for the mainland because hong kong has a wealthy stable, educated cosmopolitan population that has every reason to want to have representative democracy and all the arguments that are made on the mainland about why it's not ready for competitive democracy not apply to hong kong. because it has the implication it's very difficult to come up with a reason why hong kong should not have why elected officials but the mainland is very worried about it because now they haven't gotten hong kong back since 1987 and they see such politics as potentially getting out of control so they look at the contagion from that perspective we might see a positive thing but it could spread to the mainland. they tried to allow universal suffrage in without the actual choice, free choice choice of candidates by controlling the nomination process or the chief executive and that's obviously going to be frustrating to many people in hong kong. so will there be more protested is quite possible. i do think it is a more complicated process than i have time to answer, i t

a muted downward move in the hong kong market. h shares. citics what we have, securities down, another major security operation seeing a 3% drop. forward, a 5% drop for that stock. we have been focusing on banks given that some of these chinese banks have not seen profitability. bank,inese construction one of the banks that has been focused on, 0% profit growth. the bank of chama with a one -- china with a 1% profit growth. these are the hong kong listed shares. shares down just about 1%. we have seen positive notes with the chinese banks, some of them actually doing quite well, communications has been rising today but overall these concerns about the financial sector in china continuing to play through the markets. a lot of dislocation in this part of the market today. on the: let's check stories making headlines around the world now with as many as 120,000 people gathered in tokyo to protest against the plan to expand the power of the military. to alter of the pacifist constitution and a lot of japanese forces to operate abroad have passe

in hong kong, let's take a look at that. we saw the hang seng further into a bear market, sinking 5%. the relative strength index groep -- went to 15. this is very similar to what we saw in 1987. about 30 years ago. that prompted the four-day trading halt. that looks a little bit similar in those days but if you see the momentum still very much down. look at the volatility in the hang seng index rising 39% on monday. compare it to the european debt crisis and the global financial crisis. those are 200, 250% up on those periods. throughhanks for going all of those charts for us. it certainly feels like a crisis and it continues to look like one. trending business is is coming up next. rishaad salamat is here. is it possible to ask you what we are looking at without already knowing the answer? saying a .5%, will that be repeated? trading getting under way at the bottom of the hour. looking at rebranding, looking at a hotel change that has changed to cordis. angie: trying to rebrand today's global rout. thanks for watching. ♪

that gives the company a market 55 .1 billion hong kong dollars. they say they will spend about 20% of the proceeds into domestic and also overseas acquisitions as they really try to move forward into these rail signal markets. back in march, the chinese government said railway is one of the 10 major focuses that they are working on as china starts to expand and moving to more global markets. at the hong kong exchange earlier today, we did have the chairman and the cfo both here. a lot of excitement. they rang the ceremonial gong and we saw quite a big spike in interest in shares in that first hour of trade. as i mentioned, it has pared back a little bit at the moment, trading fairly unchanged since the ipo listing price. rishaad: thanks. a long list of republicans who would be president have begun the equally long race to the oval office. the 10 leading the initial polls faced off in the first debate of the 2016 campaign. lots of attention on donald trump. how is his night going? he certainly dominated the night. he was literally at the center of

hong kong is down 3.5%. australia is actually up. the damage is extraordinary headlines over the past week or so. the end of the day, the damage to the markets is not too severe. >> but the underlying problems with china, i.e., it's growth is still a challenge. andrew, thank you. >>> tropical storm erika could grow to hurricane strength by the time it reaches the florida coast. possibly by this weekend. the storm is blamed for four deaths in the caribbean. nearly two dozen people are missing on the island of dominica. the storm now taking a turn to the bahamas and florida. >> let's get more now with meteorologist derek van dam for the latest on erika's track. >> good morning, alison and miguel. tropical storm erika has dropped a considerable amount of rain on the island of dominica. leading to landslides and flooding for that island nation. this is the latest. 45-mile-an-hour sustained winds. busy getting organized at the moment, but the big and immediate threat is more rainfall. specifically for puerto rico, u.s. virgin islands and

we are seeing a bit of selling pressure in early hong kong trade today. has come outs swinging at the new york times after a scathing review at the corporate culture he built. though amazon is regarded for its forward thinking workforce, the times exposÉ the right it as erides it as a sweatshop where employees cry at their desks. it has created an online powerhouse whose pace of expansion makes it a darling among tech investors. shery: another story we are following is how donald trump's immigration plans may be practical. it out. coming up later in the show, our exclusive interview with a ceo after the company's 60% share plunge. after the break, a rebound in beatss housing prices expectations. when trending business returns. ♪ turn to the spotlight on china. property prices delivering news of a rebound. ning meet is the head of china strategy. threer on year, only cities where we are seeing price increases. property market has been the focus of easing measures for the last 16 months. starting four months ago, we see if it's -- efforts to support the

hong kong the big losers saccharine as i've 2.5%. in europe selling to the downside continues at the cacm grant of 3%, the dax in germany at 2% as well. u.s. stock index futures off more than 1% across the board. checking in on key commodity prices you've are seeing some buying in raw material oil prices up right now 35 cents. a lot of talk about gold indicating a price. currency markets end mixed action in the europe right now up against the u.s. dollar. the yield on the 10 year yielding 2.08% right now. a number of complaints against the airlines on the rise particularly during the summer travel season. what is everyone complaining about? lauren: i asked folks on social media "fbn:am." this is that the transportation department says. a number of customer complaints are up in the first half of the year up by 20%, more than 9500 people, angry fliers calling and e-mailing. they are fed up with delays and cancellations to skyhigh airfare and fees. american and united have the most number of complaints. but also southwest did well. you'

hong kong and singapore time. -- 6:00 p.m. hong kong and singapore time. coming up next, a clean sweep. record profits for a vacuum company. ♪ shery: checking other stories making headlines around the world, greece is on the way to securing a third bailout, with eurozone finance minister signing off on the program. athens should receive cash today in time to pay any cd debt. -- an ecb death. bt. the deal comes after months of bitter negotiations. the deal was approved after chancellor merkel sewed off the opposition. eliminatewants to singapore, hong kong, and to buy in the -- and to buy in the financial hub, after a election deemed fair. the government now has a mandate to continue the policies set in place this year and has promised to end discrimination and make it easier for the private sector to do business. the only way to achieve progress in this company is if we work together. let's work this together. can go back to the divisive politics. -- i don't think we can go back to divisive politics. we cannot allow that. >> election day was peaceful, de

i want to bring in andrew stevens in hong kong. the selloff, andrew, the futures are pointing to signs of life in the u.s., but not the story in china. >> reporter: absolutely. this is the key point that investors are now making the distinction with what is happening in china and the rest of the world on the equity markets. china is a law unto itself. this is a bigger fall than yesterday. what's happening is the government is not stepping in to help these investors out. they are letting events take their course. it is a blood bath for investors in shanghai. we have seen this throughout the summer. a steady fall in shanghai stocks. people were hoping the government would step in and they have failed them. now one other thing which is important, christine. a lot of research notes coming out here in hong kong from the big banks and research houses. the theme is don't panic on the chinese economy. yes, that was a terrible amount on manufacturing, but the other signs are not as weak as people are thinking. if it was, there is still fire

a little bit more volume coming through in hong kong. it is coming on and is exacerbated yesterday with weakness in the philippines. prices and this is the trend in china. we are seeing export growth slowing in july and pressuring manufacturing. up and new zealand is up with some quick gains coming. seeing what happens in china and the wild swing. it looks a little more settled this morning. japaneset of the economy and the stimulus. the economy is struggling to emerge. >> it is rising from down in the previous month. imports are less than expected. of $2.2 a trade deficit billion and it would be more than three times the deficit we saw in june. it adds pressure on the economy, which shrank in the last quarter. act in negative territory . the consumer confidence tumbled to the lowest in six months. will boostmic data calls for stimulus. to the minister says that a package of 28 lien dollars is needed to lower the income on households and he suggested that it should be delivered as a subsidy and that the additional spending can be funded

pimm: we were just showing the chart looking at the hong kong dollar. it is kind of just where it started. it certainly has had a lot of volatility. julie: when you have a --jens: when you have a peg currency, you have to look at the forward, which reflects expectation. i would say this is why it is important to china is in control. if china is in control and that implies that we will have a ,ouple percent or that china there is no great need for hong kong to move. hong kong comes into play if it were to have a 20% move or something large. the view on hong kong is going to be closely tied to what is going on in china self. that is white is important to know the numbers. pimm: i want to take you to russia. what is going on with the ruble? jens: if we look broadly speaking in currencies, the clearest trend we have had over the last couple of months is that the ones most closely linked to commodities have the most pronounced weakness. we have seen tremendous collapse and the commodities that matter to russia. the ruble has weakened accordingly. move, but f

red arrows in hong kong and japan. we're looking at stocks. we got in gdp numbers weaker-than-expected in france and germany. we're seeing gains. they're up .1 of 1%. right here at home with mixed bag, stocks index futures slightly to the downside. we're keeping key eye on oil which is below $42 first time since 2009. >> also breaking this morning the u.s. claims isis used chemical weapons against kurdish troops in iraq. more than 50 years the u.s. embassy in cuba will reopen. fidel castro is asking for millions in u.s. cash. and? unbelievable. this firefighters actually fuel massive explosions in china? we'll have latest on the story and what the aftermath of the blast looks like. good morning i'm lauren simonetti joined by nicole petallides. sandra smith is off today. "fbn:am," latest in markets, latest breaking news and what to expect for the day ahead. breaking news. islamic state is accused using weapons against kurdish forces in iraq. the forces sustained throat injuries consistent with mustard gas. intelligence

zeb eckert is in hong kong. the shanghai composite has really been on a tear this morning based on this story we have been discussing. zeb: absolutely. it is not just any m&a story, but a major merger of two shipping titans. .hina major and cosco speculation in the market that, as push -- as part of a push to consolidate, china will merge these two companies. the two companies were suspended in trade today in hong kong. all of the related companies, companies they do business with, rallying. market inhare shanghai, contributed to a 5% gain. stocks just taking off. we saw terrible economic data over the weekend from china. exports were five times worse than expected. price data not coming in in line with expectations. yet the shanghai share market is advancing. part of that is also due to the expect morevestors stimulus as the chinese try to prop up market. that is positive to investors who have been rattled by volatile markets. elsewhere, this is what we have. southeast asia firmly in the red. a lot of concern i

quickly checking in on what is happening in hong kong. many of the main shipping lines are extended. there is deal news of flight. many names are suspended right now. there are shares in the hr market that are rallying. it is pending possible deal news , and what we heard today is that china costco has been halted pending an announcement, with the shipping container line suspended as well. mergingid to consider china shipping as well as costco. watch that very closely. china merchants among the financials, telecom is doing well, and china rising versus the pur huge powerhouse gaming on the strip. walmart has one of its biggest customers, not a lot of investors in the stock today. sense oflet's get a enterprises index, the chinese companies listed here. , oil and gasg really leaving on the downside. financials are not far behind. major chinesehe names you want to be watching, petro china, down in the session, dragging the broader hong kong market down as well. firmly lower as we start out this monday. story,: more on our top deepening expo

like the hong kong dollar and the big losers from what happened is the u. s. dollar. whether that's middle eastern markets or hong kong markets and that's an interesting trade. >> when you don't like commodities, south africa, when you have politics in turkey, you're ending up in hungary. these are countries not getting hit by this commodity. getting smacked as a result of china. >> and wilfred this move by china has reignited the debate as to whether beijing is moving away from a free market model and what this means for beijing central bank policy going forward and if this will spark a global currency war. will we see other central banks do more to weaken their currency to essentially boost their exports. >> well, very long-term of course people that want to see more financial liberalization in china would have liked to have seen a free floating currency so this devaluing it to more of what it's natural rate would be is akined to that. i agree with your point, the last couple of months of actions from the central bank and government have meant they have lost credibi

hong kong down 3.5%. not a great week. it could have been worse, alison. >> andrew, you have what the markets are doing and the china's economy is doing. two very different things. we are not seeing recovery with the chinese economy. >> reporter: no, we're not seeing recovery. no one is expected to see recovery. i guess we have to be careful about what we mean about recovery. we have gone to a 10% growth economic model in china. they are translating to a slower growth model where the consumer is the king. a bit like the u.s. economy. gone from exports and investment. they want to turn to the consumer. that is a painful process. how slow is the economy actually growing at the moment? the official numbers say around 7%. the independent research houses, the big banks all say just about without exception, that number is too high. maybe 5%. we have not seen the chinese authorities hit the panic button if you like as far as throwing a lot of fire power, financial fire power at the economy to pick it up again. we suggest, althoug

it's men hong kong has become a world leader in living organ transplantation. the family at the center of this medical first is thankful for a successful operation. rob mcbride, al jazeera, hong kong. >> now the world's anti-doping association has described new allegation allegations of suspected drug use as disturbing. al report. new access of drug use athletics may be the most along-terming yet indicating blood samples from a third of medal winning athletes at major events were suspicious suspicious. >> wide allegations. i will have that done by the commission as quickly as possible. >> german broadcaster in the sunday times newspapers obtained the results of 12,000 blood tests from 5,000 athletes between 2001 and 2012. 55 goals at the olympians and world championships were won by athletes now under question. >> this is athlete personal data and really it should concern every athlete who knows their data is being stored by anti-doping olingsz across world. the investigate reported no irregular tests involving the sports biggest name boldt. he expressed frust