Markets here in the asia pacific. In australia where the asx 200 is in the green, fractionally higher as gold futures jump on speculation that the fed will load the stimulus reduction. The Australian Dollar is weakening at 89. 9 u. S. Cents. Adults. S become today there will be no Market Action in japan. Windows have been given reprieve at least lightly. World regulators have agreed to buff the debt restriction on banks to help boost lending to smaller businesses. Joins me now. Aw there are three areas that come into action in 2018. They will be gathering at the gsc in 2008. Ease off of fierce lobbying from the banks. Bank of america, merrill lynch. They have been campaigning. Enough to hit lending and saying were going to have top capital on our debts again. The smalling to business. To ease it off, you can avoid double counting of derivatives. You can dilute the rule off speculations. Aey are going to ease its off little bit more. The banks do feel a little bit more of less pressure. You can have at least three percent of capital on the balance sheet. It is very important. The u. S. Has to decide what they want to do with regard to lower capital reserve ratio. It is probably too weak. Stronger version of that. Quite that is the volcker rule. Oose. Bit more too l rules are all collaborating, 27 nations involved. Draghi is in charge of the ecb. A significant step toward a full implementation of basel three. There are some big names. The banks are agitating for change. Which banks specifically . Bank of america, merrill ba. Ch, paragrap until 2000 18n starts next year. It is about avoiding what happened in 2008. There is no too big to fail. The problem is when the generals fight the last batc tle in the war continues. There you go. Reading and rewriting the maps as we see them. Thank you so much for that. Deployedgovernment has soldiers as they prepare for citywide investors. They call this the bangkok shutdown in an attempt to topple the Prime Minister. They have seen more than two months of arrest with protesters demanding an unelected popular Counseling Council to oversee political reform. It will go ahead. As the protest rumble on in bangkok, the company that helped of politicalears tension is prospering. Paul allen looks at the role this has played in the recent troubles. The election in two thousand 11, thailands Prime Minister has had a predictably rough ride. Political opponents consider her top job in genetic circumstances in 2006. Controlling his tax free 1. 9 billion. It exploded into full scale street protests and eventually a boundless bloodless military to. It scored 4. 8 out of sight. The stock could rise 54 in the coming years after sinking 31 from the made peak. The chain of events said this continues to unfold. By thed remains gripped struggle for power. Paul allen, bloomberg. We will have more life in bangkok. We have has linda later on. Some other stories making headlines. The rain in china has come to an end. It was outsold by volkswagen which was the top spot in nine years. Deliveries rose 16 in china this year. Toward the goal becoming the worlds biggest carmaker 2018. Honeywell is being invested by the u. S. Authorities after the firm included chinese parts and components built for the f35 fighter jets. An electrical sensor was produced in china before production was moved to the u. S. Honeywell insisted it has followed all applicable laws and regulations. Weapon system53 is the costliest ever. A chilling effect. Cold and Stormy Weather in the u. S. Took a bite out of hiring when employers have visited nearly two years. 74,000. Expected in numbers so small. Pimco calls it a shocker. It is very surprising. It is somewhere between puzzling and worrisome. Puzzling because it is such a strange number. Jobs were created. Even if you add in the revisions from last month, it is half of what the census was. Shocker to put it mildly. We have a big lineup of guests this morning. Lets cross over to zeb for the details. Zeb . It is a busy day as the seventh asian seventh annual asian forum kicks off. Nearly 2000 Business Leaders and senior government officials from around asia and the world here today to talk business and the future of markets and the economy across the asiapacific. The theme, asia powering world growth. We have a stellar lineup of guests. Make sure you tune in. In about 20 minutes we will be speaking to Citigroups Asia Pacific ceo, stephen byrd. We will gethour some insight from the Asian Development bank president. We will this morning turn our attention briefly to europe. We will be speaking with the euro Group President and the dutch finance minister. Coming up after the break, a very special guest joining us is dr. Alan baller, executive Director Director of the Asia Pacific Economic cooperation. It is going to be a busy morning. We look forward to coming back in joining you later. We look forward to that indeed. After up continues the short break. Stay right there. We are back in two. Expiation forum kicks off today bringing some of the most influential members and global business. Lets head to the event where zeb eckert is on standby with our next guest. Good morning to you. Good morning, everyone. We have a stellar line up. We are joined by dr. Alan ealler, executiv director of aipac. This is quite a change from your days and the central bank. To see a you get lot of asiapacific. What is your impression . Gloomy look around the region, we are still really waiting to get over the Global Financial crisis and find out what the new normal is. Hopefully 2014 will see as getting there. Developedre seeing economies of the specific rim pacific rim starting to get back to growth. For the emerging markets, it is a story about demand and trade growing. It is domestic demand driven. In many cases, the economies are looking at how they use consumption, how domestic demand changes things. It is still very globalized. I do not think export driven trade will be quite the driver it has been in the past. The dynamic is changing. Yes. Of course, one thing hanging over all of this is Interest Rate and how Interest Rates back to normal. It can lead behaviors that are hard to write. How much of an impact do you howk this fed tapering, dramatic will that be for Southeast Asia for example, for the emerging economies that last year saw volatility . That depends on the Federal Reserve doing some very clever signaling and gradual returns in normality. Theres no guarantees about that. We have been at near zero Interest Rates for quite some time has led to and tricks. Some of that will change. Japan will start seeing a bit more inflation and some of the Interest Rates. Theres not much there in the world economy. Lets talk about china. Hold the share. As you look at the year ahead, what are the key priorities . What is chinas responsibility . What do you hope the chinese will accomplish . Influence. Uite a big china has set three themes around Regional Economic integration around growth. Like many of the pacific rim economies, we want better quality growth now. Infrastructure and mobility and things like that, they are all going to come up with a lot the minister leader meetings. Therell be a lot of work on the ground. One of the meetings that will tpp. King place is the tp the aim is to carry it over. How optimistic are you that we will see an agreement by the end of the year . That is not china. Expecting some resolution. Make the extent to which it tends to be a highlevel and openess to others. Be looking at that. Expecting to see tpp out there in one form or another. That will have influence on how next fews over the years. This is the fascinating part of it. The scene is changing. As you talk about regional integration, with the region of so many Different Countries and customs and trade, how do you at apec try to bring that together . Is it possible to create a pan asia trade alliance . A lots ofies out things. We see what works. Do is bringrying to down unnecessary barriers to trade. This has happened quite a lot. It is making easier to set up businesses. Is helping them operate efficiently. They are able to find their own equilibrium. It is emphasizing that Border Protection comes an advantage. They want to have sufficient flows of trade and people as well. Theres a lot of that going on. We haveegional disputes seen lately, whether over territorial issues, largely involving china and trading partners, and do these present a threat to the competitiveness of asian nations in the trade alliance . Not at the moment. In trade anded Economic Policy just want to get on and do that. Havinglked about eu as the dividends. It is not a question of peace. This area is very integrated. It is getting more integrated economically. I have to ask you about what is happening in thailand today. We are very closely following the antigovernment protesters there and the prospect of what could happen in the next 48 hours. Do you worry about this political instability and the impact to the thai economy as a whole . Could lead far as it to financial volatility or disruption to the supply chain. Thailand is very tightly tied into supply chains. We saw back in 2000 11 with the floods how disruptive they could be. 2011 would be floods, how disruptive they could be. A sophisticated way. We will be watching it closely. Itll be a very busy day. Dr. Bollard is the executive director of the [indiscernible] thank you. Thanks. Coming up, the mineral wealth of indonesia keeping it more at home. When first up returns. X after months of debate, indonesia signed a law banning exports of mineral ore. It will have implications at home and abroad. David inglis is back here with this critical decision for indonesias economy. It is Southeast Asias biggest economy. It is a major exporting country in terms of minerals, commodities. It has been talked for a wild. They did come to a decision on the weekend to put this export ban of mineral ore into place. It went into effect over the weekend. I want to emphasize here. It prohibits all raw ore exports but permits those signed into the country. It permits exporting of copper concentrate. The worlds home to secondlargest copper mine. That eases earlier concerns that maybe this could have some sort of constraint on copper shipments. What is it meant to do . Longerterm it is meant to spur investment. If you want to export out of the country, you have to process it inside as well. Indonesia hopes to increase the value of this ore shipments and increases place. It is longerterm. In the infrastructure already in place for it to take advantage of refining these Raw Materials . I think it is 60 companies that already have applied. How much of an impact will this have on indonesias economy as you see this cap. They will eventually bridget. Short term, that is when youre looking at the impact. It will cost them at least 5 billion u. S. Dollars in export revenue. Translates and will worsen the current economy by 3. 6 of gdp. It is fairly large that this is a serious problem for the country. The Silver Lining here, they think the market has in fact as far as theban currency is concerns. The final version appears to be watered down somewhat compared to what was talked about over the past few months. As far as jobs, 800,000 jobs is the estimate. From the Indonesia Chamber of commerce. That is at risk. Pain forhortterm hopefully what is a longterm gain. That is the bet they are making. What impact will this have on supplies to china and other countries that depend on exports with mineral ore . Who is going to step up . Seen but it is pushing up nickel prices. China is a big importer of nickel. Up. S leading the stockpiles will last them a up. P all the way it is also the issue of different. The philippines come into the picture because both the philippines and asian and indonesia, he put them together and they are the biggest suppliers of nickel. Of a lowerally grade. China would have to buy more of it if you compare it to indonesia. That brings up the other issue of the paid factor. At the end of the day, it is how quickly the mining in the philippines, some of which the japanese government have big states, how quickly will they be able to bridge that gap if and when china starts buying again. Looks for other mineral ore producers around the region. We will see. Thank you so much for that. Checking for other stories. The indian diplomat at the center of the row between new delhi and washington has been a afterto a new role leaving the united states. He was arrested last month, accused of visa fraud of paying her made less than half. Less than half the new york minimum wage. Worth 100 billion dollars. Three years ago president obama so the relationship was one of the defining partnerships of the 21st century. Has been sworn in for the Prime Minister of bangladesh. Won the majority but many were not contested by the opposition. At least 18 people were killed and a dozen polling Stations Police station set on fire on election day. Bush fires are burning out of control in Western Australia as much of the country braces for searing temperatures. A heat wave began at the end of december and continues over much of the country. It has smashed records and has been described as a highly significant event by the bureau of meteorology. NorthWestern Australia are expecting temperatures of 50 degrees celsius on thursday. Of thelaus a has a Reach International space station with the arrival of a private enterprise cap so. Captured by the stations robot arm after three days blasting from virginia. It is caring equipment and experiments and christmas presents for the astronauts. Weathertad late as bad postponed the launch. Santa claus always delivers. Asianl be back with the financial form to display to speak to the ceo. The Company Raised 20 billion it is 730 here in hong kong and 830 in seoul where youre seeing right pictures coming out of the sole financial district there. Futures on south koreas cost ospi gaining. We will be watching for that. Were 30 minutes away from the open of trading in south korea. First up. Hing bloomberg. Co antigovernment deke protesters aim to bring the city to a halt. Debt, capital and leverage. The latest news on regulating the banks. Gold miners rally after the metals rise. Good morning. Lets get straight to the markets here. Intosx 200 has now slipped the red. It is a 10th of one percent lower currently. 308 is your number there 5308 is your number there. Laster the Australian Dollar fell the most against the kiwi in 26 years. Thestors were overstating diversions between the economies. Checking in on new zealand, lets do that for you. 15 or higher. Checking in on gold. Stocks report on friday coming out of the u. S. That dampened regulation that quicken up stimulus tapering. We are seeing gold at this number. Property developers are looking overseas. Mia saini has more. Can you blame them . Kong sales have fallen off 38 last year according to analysts. We will see more of the same this year. Residential sales here in the city are near a 20 year low because of these intensified property curves. Theingapore, prices fell first time in two years. They may fall a further five percent or 10 . What four of the biggest Property Developers in singapore are doing, this is on the agenda. Look at oue. It but californias tallest building last year. It is looking for new york and miami for expansion. They entered australia for the very first time last year. It will be to continue the expansion into australia. Their goal for 2014 and each year after that is to have 60 of revenues come outside of singapore as they look to diversify. It is not just developed nations. It is not just europe and the united states. Theyre looking at these developing markets. China is one because the potential of their luxury buyers have come to the residential segment. There are other places on the radar. If you take a look they say bangkok is something that many are looking at, which is interesting given the Political Tension we keep talking about. You are seeing property curves here in china. No property curves abroad. What about the buyers . As are they doing that as well . They can imagine youre getting slapped with a 50 stamp tax for those who are looking to come here and hong kong, specifically they are going to look as they diversify their own portfolio. Many people in the game of real estate hold onto these properties as investments. They are looking to make sure they get the best return. That is the motivation for the buyers who are seeking investment. Wakefield estimate that more than 100 50 billion of money from asia will flow into europe and north america by 2020. Investors look to diversify their portfolio. Buyers in china as well that appellation want to buy abroad. That is a concern. That is a thought we all have. Thank you for that. Thousands of police and troops are on the streets of bangkok as they face the biggest day of protests so far. Da is therefore as live right now. What is the mood there as you ll about in bangkok . Will demonstrators succeed in what they plan to do, shut bangkok down . Those are really big bestions which can only answered later on. As you move around, you get a sense there is heightened tension. This morning as we were getting into our live spot, it was pretty quiet. There were blockades. Bumper to bumper cars to block traffic. We also see sandbags being used. Be . Big will this protest it is really hard to say. When i speak to commentators they were leaving the demonstrators. They may be losing support. It has been going on for about two months. The movement was meant to be turnedpeaceful and has violent. There are a lot of questions of whether he is indeed losing support. At the height of the protests in the last two months, we sell 200,000 supporters coming to the streets. When you speak to people on the streets, they claim that su to gatheranaged 100,000 people outside of bangkok. They started that march yesterday. It is pretty quiet at this time. Whether violence will break out, it is hard to say. Whether there will be a gridlock and they will succeed up putting bangkok at a standstill is still at question. It is still an attempt. Hearing as well that the government is a ready to deploy 20,000 soldiers and police to combat the blockade. Now were hearing a rumor of plan toa quiet instigate violence. We do not know which side. What are you hearing . 20,000e are about personnel. A ambulance is on standby. Inside your also told that the airport is prepared to deploy to casualties in critical condition. Rumors of a who. When we speak to political commentators and observers, they say the Main Objective of this antest is to instigate incident. They want participation from the military. Rumorsre hearing are that the leaders may themselves incite violence. They have come up to say do not believe any cu rumors out there. He has not denied any possibility of a few as well. Say something. What he actually said was theres no reason for a two. It all depends on where the military stands. He is not made it very clear to the public. The history of the thailand and the military there in terms of to in the past. Clues in the past. What is bangkok doing to help . Measures have been implemented. Even as i was walking through the airport yesterday i could see help desks that specifically put in place to help visitors coming to the city may experience difficulties. Delays in what we party had. More than 100 flights have been counseled to and from the city. City center is concerned, 20,000 security personnel, ambulances and place. For those moving around the city, the government has assured is there. Ncy of trade they expect numbers to double because of the blockades that are expected to happen here. Youre taking a jury close eye on what is about to happen. Lets get back to the Asian Financial forum in hong kong standing by with and as clues of interview with our next guest. With our exclusive interview with our next guest. Is the chiefd executive officer for the asia pacific at citigroup. We appreciate you taking time to join us exclusively. Welcome back. It is certainly a busy start to the year. It probably feels like 2013 never ended. Yet a very is the busy and into the year. That momentum has carried on from the back end of 2013. It was a brisk and into the year. Just last week we held a number bonds, they issue issued a 4 billion fund last week. Largest one in asia since 1988. This flow into 2014. Have theong we acquisitions. We think m a will be a significant feature of 2014. Talk about the various opportunities. You look across your businesses. A billion dollars in revenue from eight key markets in the region. This is a big business. Where do you see perhaps the most opportunity for 2014 . For the business, the good news is we are a longterm investor and grower in asia since 1902. Why we came to asia was bringing corporations into the world. Today were using this. These firms been dutch built into the world. They use the Hunter Country network and we continue to do that. They spoke the local language. They are in company to do business easily. That will continue to be a big driver. Another big driver for us as credit card business. It is a Major Business for us all across asia with the leaving the car provider. It is an important business. We launch the credit card business just over a year ago. The First Global Bank to launch in china. Im going to interrupt for a moment and ask you to pause there. We are to dig into all of this. The consumer business in a moment. We need to go to a commercial break. In two minutes time. Were speaking to stephen byrd. The Hong Kong Convention and exhibition center. Saved stay with us. Welcome back. Live at the Asian Financial forum. Will continue our conversation. Were speaking exclusively with the chief executive officer for the asiapacific at citigroup. Thank you again for joining us. Let the talk about your various lines of business. As i prepared for conversation, i was stunned to learn you had 34 million retail customers in asia. You have a growing commercial business. You are delving into insurance now. Tell me about how you put this together. When you understand the business, first of all, it is half institutional and have to retail. We manage that violence. We think it is important to have the sustainable growth. Expect us to have a longterm commitment to the region. The right to expect that. Standpoint, weic have a countries that are over a billion dollars of revenue. It creates a sustainable reinvestment cycle. Kong, in china, india, singapore, you see it as investing in technology. You are right. You mentioned insurance. World we borrow, spend, invest and protect. All we formed a partnership. And they have been listening to exclusivity for five years. It allows us to bring tailored projects for our clients. Nook at insurance penetration, it is very low. It exceeds 2000. This is because people look to protect their risk with the crowd. It is based to watch. There will be significant. Get in a whole bunch of questions. I want to ask you about the Growth Prospect of the transaction. Is the bad ready to put more resources to try to bolster this already strong Transaction Banking site . This is a little more episodic. You are 40 or 50 countries. You manage the cash. Give the interestrate hedging capabilities. Interest rates are very low. The value is the network. Worldg them grow into the is a main focus of our business. Prospectsry good as and next year. We wish you the best. 18 markets that you oversee. Largest revenue area outside of america. We will see the shakes up to be a little bit better. We hope you will come back and join us again on bloomberg television. It is a pleasure to have you. Thank you so much. Up next, it is keeping europe on an even keel. It is first on bloomberg. That is life from the Asian Financial forum after the short break. Welcome back this monday morning. I am angie lau. Lets head back to the form where we have zeb eckert there with our next guest. Good morning. Heavy hitters today at the Asian Financial forum. Joined by the first system. Director of the you have played a major role in in solving the debt crisis. What is your assessment of the eurozone today compared to where it was before . Facility,ieve this the other rescues avoided a catastrophic situation . I think one can say that. This was a temporary institution between years ago. They have disbursed 225 billion euros to five countries. It is not only money. It is necessary and unavoidable. It is a good progress. Second we have much better roles now for policy coordination. Third were moving toward the banking union. The fourth element is the creation of the fire board. Firewall. It is why the euro crisis is getting much easier to handle. You are set to speak today. This is an important investor group, an important region. I understand nearly a quarter of the investors came from the asiapacific. Talk a little bit about china in particular. Asia is important to europe. Absolutely. We have to find the money first before we can add money to the countries that need it. It is very different from the imf that is created automatically through the central bank. Rom the beginning, it is when the anglosaxons looked really skeptical at the euro two years ago. There was still support coming in and investors are ready to buy. We are grateful for that. Some are still skeptical. There arent a lot of critics. Much less than two years ago. I want to ask you a bit of the nittygritty. Willu think the fund change much . Have you considered offering it in different currencies to entice more investors across asia . That is the possibility. We have no problem generating the funds we need. It in other currencies. Which currencies . Were looking at the possibilities in case we think we need to do it. Nothing has been decided. This is the market for the next 30 years. Im sorry to interrupt. We are out of city. Ing to paralyze the the latest effort to bring the government down. Gold miners rallying in sydney following a jump in precious metals. Capital and leverage. The latest moves on regulating the banks. Thisme to first up monday morning. Were coming to you Live Streaming on your mobile and bloomberg. Com. Were going to be live from bangkok to sydney. Were also going to be talking about some bigname guests at the Asian Financial forum. Good morning to you. We have a strong lineup of guests this morning represent business and government. Forums the seventh annual in hong kong bringing together politicians, Business Leaders, not only around asia but around the world. This begins today. We hope you will join it. In about 10 minutes time, this is in hong kong. They will welcome the delegates. Will be speaking to the president of the Asian Development. With unique insights on the asiapacific company and many Years Experience in the past. Well have a fascinating conversation. That is coming to you within the next 60 minutes. Were looking forward to that. Thank you. To australia where the asx 200 is extending losses this hour. It is close to a fit of 1 . It is 1. 6 to the downside. This is after slower than estimated growth. The Australian Dollar is strengthening at 90 u. S. Cents against the weaker dollar. Lake, resources all climbing. Nowbiggest claim or right is silver lake at 8. 7 . It also pops up on the hills of that jobs report. Is just getting underway. Right now it looks like this. It is in the green, higher. The korean wan is strengthening as well. Japan is coming to the closing of age today when twinyearolds become adults 20yearolds become adults. There is a lot of concern. Thousands of police and troops are on the street as the capital faces its biggest day of antigovernment protests so far. Haslinda is there for us. Do you think we protesters will succeed what their goal is today . There is great anticipation. It will start taking to the street. It is to whether we will see the kind of members they are predicting. It can still ensure the political commentators. He is leading the antigovernment movement. They may risk losing support. This has been going on for the past two months. Whether we can see the numbers. It is hard to say. Bit more difficult for him to garner that kind of support. Asot depends on the military well. Right now 20,000 security personnel have been deployed. Standby. S are at we have the airports getting ready to deploy. This is what the Prime Minister has been saying. Still early hours yet. It iss point in time bumper to bumper. There aree and seven in the city. The gridlock has not happened just yet. What about the rumors about a plan to instigate violence, to instigate a potential coup . What are you hearing . These are rumors. We are also hearing these comments being made by political commentators of thailand experts on thai politics. They are instigating an incident. There is no violence. The government leaders themselves may instigate a small but violent incident for sure. They can make the city ungovernable. These are just rumors. What he said is there is no reason and obama happen. It is important to remember as well that bangkok has the antiprotests in the rural parts of thailand. Some other stories making headlines. Gms rein in china has come to an end. For took these top spot the first time in nine years. Deliveries rose 60 in china. This help them toward the goal of becoming the worlds biggest carmaker by 2018. Being investigated by u. S. Authorities after the firm included chinese parts and components it built for the f 35 fighter jet. An electrical sensor was produced in china before production was moved to the united states. Honeywell insists it has followed all applicable laws and regulation. The 392 billion Weapons Systems is the pentagons costliest ever. Debate,month of indonesia has signed a law banning exports of mineral ore. The role went into effect only after a lastminute compromise to ease concerns over disruption to copper shipments. Exports. Its all raw or allcan get more on that and of the days top headlines. It is your online source for business and market news. Check it out. Have been given a reprieve at least slightly. World banking regulators have agreed to soften the debt restrictions on thanks largely to help boost lending. John johnson john. John dawson is here. We cannot follow those lovely. We can keep your eye on this trillion thanks again. This is a bit of a reprieve. What they have done in three areas. They will avoid it. They will avoid the double counting of derivatives. Churches will benefit in this. Netting of this. Dilutes the role on off balance calculation and reduces the capital ratio. The minimum is 3 . The volcker rule will make it as high as 10 . This is what they will do. It does not come until 2018. It is a watered down controversial rule. There is a lot a massive lobbying about the concerns. It is about how it was unfair. Two areas really affected were lending to small enterprises. You could do that with massive him prescriptions. That is really the concern, the whole reason why the rules are in place. It looks like they are amending it to do this to potential volatility volatility if anything happens. Banks really advocated for change . They say when you do this it also affects business. These are the three that are quite vocal about this. All of the things wanted to. Havent they landed to these again if they cannot question they need to keep the capital reserves really strong. Otherwise they will be hit. This grief for not lending there but you cannot because of the way around. Thank you so much for that. Will be heading back to the Asian Financial form for a closer look at the prospects for hong kong. The Financial Services secretary joins us live when first up returns. Stay right there. Lets cross over to the Hong Kong Convention center for the Asian Financial form where zeb eckert is standing by for us. The form is just about ready to get underway. 2000 delegates from around the world. This is the seventh year for the Asian Financial form sponsored by the hong kong government. We are joined now by a man who certainly has no shortage of insight on the financial industry here, the secretary for Financial Services and the treasury. Good morning. Good morning. Thanks for joining us. What is your key message . It is what kind of opportunities are there in asia. We in hong kong are about here. The qb is long and debilitating. When you are moving the purchases of the Government Debt and Interest Rate, it could be wise. It is exactly what this means. These are the things we watch very carefully. The market will react to that. It could be appealing for the economic scene. We should be helping to try to see the opportunities here and hong kong. Are the exports rebounding this year . I think exports will be doing better. We talked about moderate growth because of the u. S. Situation which is improving. Lets talk about china. Chinas in the midst of broad reform. Is very closely watching this. What is your sense of how the reforms and china are impacting hong kong and how does the play in hong kongs role in Financial Services . I think chinas reform is necessary. It is welcome by the people in china. Theyre going to need some reform to change the growth model so china gets the same for the next 10 years. And hong kong we welcome to the raisingt china is now the markets of reform policy. A lot of the policy you see about is about reform and the market. Hong kong is a bigger Industry Market and china. We would love the opportunity were hong kong corporations can play a role. I want to get a few other quick questions. We talked about china. We talked about the remnant be. Mninbi. Nt remnant b we hope to see more collaboration with the centers overseas including places like singapore and london. We think we can do more. They will work more for the linkages. I think we have to do more this year. We are still working on the neutral recognition of the chinese authority. Year soto see that this we can do another project and hong kong. Going to bee is ringing off the hook. A final question for you. The Property Market. So much wealth tied up in the hong kong Property Market. Local investors have a lot of concern, what tapering will mean for Interest Rates. What is your view of the real . State that was a zeb eckert would be secretary at the aff. Financialore from the asian form as we discussed what is in store for this regions economies in 2014. The president of the Asian Development joins when first up returns. These are the top stories. The cold and Stormy Weather in the u. S. Took a bite out of hiring last month with employers with the lowest payrolls in two years. No economist predicted a number so small. It was called a shocker. It is very surprising. It is somewhere between puzzling and worrisome. Puzzling because it is such a strange number. The 74,000 jobs that were created. Even if you add the revisions from last month, you are still at half of what consensus was. It is inconsistent with other data. It is a shocker. They expect to match 2013 sales growth in china this year. Affinity sales jumped 54 to just over 17,000 units last year. The company aims to sell more than 100,000 cars in china within five years, saying it will be the biggest market by the end of the decade. The Thai Government has deployed thousands of soldiers as bangkok prepares for citywide demonstrations today. Theesters hope to topple Prime Minister. They want an unelected popular Government Council to oversee political reform. They hope to postpone next month election. All right. Back here to hong kong. Cashrich and opportunity poor. Property developers and hong looking singapore are overseas as a result. They have to earn a buck somewhere. They are looking overseas. You take a look at the Property Market here, we are talking about sales close to a two decade low. Prices laster fell 38 . Year. L be the same this looking at singapore, that market there for the fourth quarter. Home prices fell for the very first time in two years. 10 . May further there are developers we are watching. Theyre looking to diversify overseas. They think there is not that much money to be made on their investments here in the hong kong, singapore areas. But the tallest building last year. Theyre looking at miami. The hong kong builder of apartment buildings. They are looking to expand into 14 chinese cities. They are expanding into 3400 homes. Far east orchard entered into austria for the very first time last year. They will continue to do more of the same this year. 60 ofnt to have about the revenue come from outside singapore. What is interesting is it is not just the developed areas. It is not just the u. S. Or europe. They are looking at china. I mentioned that earlier. Theyre looking at other areas. For example, the bangkok area. It has been very turbulent because of the political climate. Overheated markets like singapore and hong kong with the fed starting tapering and worry about Interest Rates of their. Are also looking overseas. It is a good point. This comes down to your view on Interest Rates. If you think Interest Rates are going to go up, you want to make sure you are well positioned in your portfolio. One way you can do that is to look overseas. We can seeing home sales increase in the u. S. This is diversified. They estimate that 50 billion equity from the asiapacific region is actually going to float to north america and europe over the next six years. Mia saini, thank you so much for that. The indian diplomats at the center of a route between new delhi and washington has been assigned to a new parole after leaving the united states. He was arrested last month, accused of visa fraud, paying themade less than half of minimum legal wage. It has shaken india u. S. Links. Three years ago president obama said the relationship is one of the defining partnership of the 21st century. Sheikhn sworn hasina has been elected. Her party won a majority but many seats are not conduct contested by the opposition. At least 18 People Killed and dozens of polling station set on fire on election day. International servers have called for reruns of the vote. Bush fires are burning in Western Australia as the country braces for searing temperatures. A heat wave began at the end of december and continues over much of the country. It has smashed records. Temperatures of 50 degrees. Santa claus may be a little late. The supply ship was captured by the stations robotic arm just three days after blasting off from virginia. It is carrying equipment and experiments and christmas presents for the astronauts. It is late because bad weather postpone the launch last month. A quick check of the markets in play right now. Dayustralia, it started the on the upside but has pretty much given away all of the gains. The a sx 1000 down. There. Your numbers it is 4 10 of 1 higher. Were counting down to the latest home loan figures out of australia. We will be crossing light to sydney to break the numbers when first up returns. Victorias outside harbour where in about an hour from the open of trading we will be watching eight shares of banks on the hang saying as regulators step up supervision of shadow banking. You are watching first up. Bangkok braces for renewed protests. Demonstrators aim to shut down the city and topple the Prime Minister. Digging down in indonesia. The winners and losers as minerals are put in local hands. They look for opportunities abroad. Good morning. Were just getting the latest there. An figures out of this outstrips both analyst expectations of a 1 rise. Who is buying . There is an increase of 1. 5 to investors and one point nine percent to occupiers. It is all being driven by this record low cash rate. You can still buy a relatively cheap year. It is fueling the property boom of sorts. Up 7. 6 . E sydney is leading the charge is. It all comes with a warning. Last month he said 57 of landlords are leveraged the low to middle income earners. As long as the cash rate remains low so will the demand for home loans. Better than expected. November home loans coming and 1. 1 month over month, driven by record low cash rate. A quick check of the index. This is still in the red. A 10th of 1 down. Higher. Has deployedrnment thousands of police and soldiers prepares for citywide demonstrations. Protesters are to stage what they call bangkok shut down. Protesters demand an unelected Popular Council to oversee political reform. They hope to postpone next month election. The Prime Minister says it will go ahead. Zeb eckert is standing by the financial form with the president of the Asian Development bank. Good morning. Him. E pleased to have welcome to the program. He was president of the Asian Development bank and spent for decades in international finance. Welcome to the program. Congratulations on your post. Lets start off with talking about thailand. The markets are watching this closely. From where you sit as head of the Asian Development bank, how concerned are you that this could be a real threat to thailand . It continues. [indiscernible] many are saying the impact this training partners. We know japan has a very big investment in thailand as do other countries. And talke a step back about the macro situation of 2014. The big issue on peoples minds is tapering. We know it is going to happen. The unknown is what happens to economies in this part of the world. As you look at these economies in South East Asia and elsewhere, are you concerned at all that there will be a negative impact . Concern after the tapering goal. Before that it was more about asia. Flow of money to they had the outflows of money. People are so concerned about the daily market sentiment. Overall, i think asia should be ok. Asia is now much better prepared to any market sentiment. To get to this mission of the adb which is fighting growth, making a more equitable environment for all People Living in the asiapacific. First a question on japan. Your predecessors mail in charge of the bank of japan. How would you rate his performance . As a former ministry of finance official, where is your sins japan comes out . Has beens policies starting working. From has been suffering very strong sentiment over years. Now i expect he is coming back in the real Interest Rates are coming. The impact is a very bold market. It is more than expected by many observers. You have full monetary policy. You also have fiscal you also have fiscal reform. Deregulation and tax cuts and whatnot, will that happen . Those were all on the tables. They were implementing and foreign agendas. There are d regulations. There was some for the labor market including how we can promote the further frustrations. That is the agenda. What is important to implement thend get to the markets impression that japan is changing. It certainly seems so. Time will tell. Lets talk about the Asian Development bank. Your mission is to help eradicate poverty and create government. What are your key challenges for 2014 . Do you see asia becoming a more incapable . Do you think you think youll see more progress . We are now looking at this. The record of asia has been very strong. There are social elements. We should sustain. There is more a quality. Some people become very rich. How to arrest this issue . It is really important. Countries like myanmar where they do a lot of work. It is an opportunity for asia. The population is large. It is a very important geopolitical situation. The leaders are very key on the reforms. We should support them. We will be watching closely. We will have to check back in with you. Congratulations on your new role. Asianesident of the development bank. Angie, we will send it back to you. Thank you so much for that. Lets get over some stories were tracking today. These are the top company news. Local banks will have a reprieve will. Authorities wanted to cut the debt. Instead the plan will be watered down a little bit. You are arty looking for a minimum reserve ratios. South korea is looking overseas as growth slows at home. It is the fourth group. Ventures. Lso mulling 40 of earnings over the next 10 years. They have fun record Numbers Record levels of radiation. Last previous high. Officials say a fish with dangerously high levels of radiation caught several the size. It was 124 times the amount considered safe for human consumption. Still to come we will be hearing from the chief investment officer. Welcome back. We hope it is a good monday start for you. After months of debate, ofonesia has banned exports mineral ore. It will have implications at home and abroad. Good morning. Banning exports of the indonesia took effect. That is one to take away. You will not see any more coming out of the country. Shipments that are processed and refined in the country are permitted as with copper concentrate. It is one reason that is important because indonesia is home to the worlds second largest carper coppermine. What is it meant to do . Longerterm with the government is looking to do is to to spur investment. If you want to export out of indonesia you would need to process the stuff as well. Indonesia hopes it will increase the value of these mineral shipments outside the country and hopefully move indonesia up the value chain. Of an impact is expected on the Indonesia Economy as this moves forward . As far as the currency is concerned, this has been talked about for several months. The final version appeared to be a little bit watered down compared to what was talked about in recent months. What you had was the bank saying the currency market has priced this deal. Impact andhe exports, it might cost them 5 billion u. S. Dollars of export revenue. It may worsen the current account deficit by another point 72. 6 of gdp. That is according to various estimates. Does this mean supplies to china that export mineral or . As far as nickel prices, lets get to that. The average was about 15,000. About. 800 theyre that is the estimate. As far as china is concerned, they have actually built up inventory. This may not be buying stuff until the second half of this year. If you do want to compare which country may be stepping in to plug that gap while indonesia puts the investment in place to resume the exports. People are talking about the philippines. They essentially dig up lower grade ore. China will have to import more of the stuff that produces the same amount of output. We will have to see how this all impact the markets later on today. For more on that story and the outlook for the asian economies in 2014s First Quarter, he oversees about 229 billion under management. It is good to see you. Happy new year. It looks like they are coming more protective fences of what everybody hopes will be a broader optimistic economy which is more openness. What are the applications for a global economy. It is not major news for the global economy. They have to be protective these days after the effect. It is hopefully a temporary measure. It will not unbalance the overall complex. I think china is producing a lot of ore. Asia, we can to expect asian economies will benefit mainly by the fact that in trade will come back 2014. That is probably the Biggest Surprise that is not expected in the current consistence consensus. We will probably see more not only to justify the way in the regions. It would normally be a good year. Or forecasting six percent growth. We are in line with that. The year of the comeback. You think the underwhelming u. S. Jobs report changes anything or your outlook for the First Quarter . Markets wereis the extremely bullish. Two thirds of the company were above the 200 days moving average. I think we have to digest more or less the very Strong Quarter we had in terms of market performance. That is the first step. Someor less they created form of instability for that. It is Good Opportunity to buy it when you reach 3 . That is one of the lessons we learned. Prepared fore evidence like the job reports. It does not compromise the prospect for the year. It is simply related to the weather condition that is extremely disturbing. We might also see some effect in withetail area this week these completely dire weather conditions. Reduced stocks. He said there are a lot of opportunities in emerging markets. Tell me your specific picks. Europe,it comes to there is a similar case. Forpe and asia will benefit from the return of the exports. And spain andrope italy that could represent a good country to trade in. We like china very much. We do not believe that china will slow down less than seven percent. We are stronger in favor. It isnt export machine. The electronics should be pretty well. The valuation are not too demanding. That is a great thing about asia this year. The starting point is very low. Theres plenty of upside. Plenty of upside. That is your expectation. Thank you for joining us. Still to come, the worlds top tennis stars are in melbourne for the first grand slam of the year. It is game on. Mother nature could be the one to beat. More on that when first up returns. We have been live at the Asian Financial for them all this morning talking about the outlook for two thousand 14. The former governor said domestic demand will drive growth in emerging markets of this year. Itfor the emerging markets is a story about demand and trade growing. It is domestic demand driven. Economiesses, these are looking much more at how they use consumption and how domestic demand changes things. Think traditional export driven trade will be quite the driver it has been in the past. The asiapacific ceo predicts 2014 will be a big year for corporate takeovers. Have just advise the acquisition in australia. E think him and the m will be a significant feature in 2014. They expect the want to play a more dominant role in the future. So far we have only issued in euro. We have no problem generating the funds we need. We could issue in other currencies. Which currencies . We are looking at the possibilities in case everything we need to do it. Nothing has been decided. Top candidates will certainly be the u. S. Dollar. Those are some of the big guest we stopped with on the Asian Financial forum. The tennis circuit has rolled into melbourne for the first grand slam tournament of the year. Shes the favorite from the womens title having been a finalist last year. This would bring her a second title. Most fans look no further than serena williams. Some could win all four slams this year. The first matches are already underway. They look at the facts and figures behind the action. The worlds best players have gathered in melbourne for the midsummer australian tennis open. Over half a million spectators will attend. Million peoplepl watching at home. Players will have to compete with temperatures that regularly reach over 40 degrees celsius. This week it will be no exception. The blistering heat, medical staff are kept on standby to offer intravenous drips. Theres even an extreme heat policy. It is the only went to have this measure. Umpires can suspend play if they believe it is getting dangerously hot. There are over 300 pallbearers and boys. They will be wearing neck coolers on court with temperatures are high enough to shrink the tennis balls themselves. Balls, overennis on 3006ill be used hundred rackets. Swifty players will go through an estimated 30,000 towels. All those watching will buy more than 100 45,000 bottles of water. With the prize pool boosted to 31 million, it will be a lucrative tournament for the singles champion. The city of melbourne is also a winner. The State Government estimates 214 million u. S. Dollars will be pumped into the economy. Bloomberg. Numbers there. There is only one number one. Singapore among the top of the hour. It looks like it will open on the upside. A quick check on the markets that are open. 1 asx 200 is down 1 5 of but gold miners are among the gainers. Over in seoul south korea, the cost being kospi is higher in it is a chilly day there seoul. S it for first up. Good morning, everybody, this is on the move, live from hong kong. Protesters are trying to bring hancock to a halt. Bangkok to a halt. The heat is on. The Australian Open is underway in melbourne. It is a holiday today in japan