The lowest weve seen in 16 years. Brent crude below 45 a barrel. It is making headlines. Is it a rout or crisis . Remarkable hashtags. Mortgage meltdown and a great fall of china. Of us know what you think the stories. We will start with a look at commodities area shares, commodities, and the bloomberg commodities index the lowest since 1999. Lets head over to sydney. Paul allen with what is going on. What is bad for commodities is bad for australia, isnt it . Paul pretty much. It is a commodity currency. We are seeing data being hammered. Miners, rio tinto back in positive territory. The hp bhp is down a little. A fewe are seeing are savvy investors looking at this as a buying opportunity. The picture for commodities is a great one. A glut and growing glut. The bloomberg commodities index at a 22 year low. This is all thanks to china, the Worlds Largest consumer of grains and metals. No surprise, a slide. Copper, for example, supply exceeds demand by 151,000 tons. A glut in oil with iran trying to raise output as well. All bleak for the commodities picture. Even gold is down. Our guest last hour suggested it may be interesting to watch. , thank you. L allen we will kick it out with another dramatic day. Singapore and taiwan and malaysia entering. Is positive. Off of the lows of today. Can it last . Perhaps why we are tracking this minute by minute. Japan and australia opened. I do not want to say paper profit. Wiped out the damage down to 130 billion. A rally we are seeing in australia. The banks doing the heavy lifting. The rest of the region looks like this. Malaysia hit 1. 6 . Taiwan is down. It was badly hit yesterday. Volume very heavy especially in japan. Look at at the 30 day average, we are double that. 225, the movers we have. 200 brands. That theyeason for plan to resume. Up 9 , a rally on the outlook for 2016. That is the story and australia. Korea just turned positive. Though the store you might want to follow is what central bankers are saying. India and taiwan, late yesterday basically saying they are ready to act. The currency markets. 1. 11role, 1 in the euro 578. Euro, the story here. 1 1578. We are down 0. 4 . To the u. S. Dollar and we are weaker by 0. 4 . ,he economy minister, umm basically saying what everyone else is that the yen as being bought as a safe haven and reflecting, he said, the economy fundamentals, the underlying fundamentals are quite sound. That being said, he is calling the timered to yesterday, things look a little better. Perhaps not to the extent we saw this time yesterday. Andese markets opened up about 20 or 25 minutes from now and we will get to the updates when they open in hong kong and the chinese mainland. Rishaad currencies, this what we are looking at. Commodities, we have done it. We are looking at equities. Front and center, we want your opinion. Tweet to me. There are other stories also making headlines area lets find out what is going on. Morning. Ood the japanese carmakers, toyota and honda, plunging to this morning. Toyota is going to suspend production of the Previous Anti prius in thailand based on lower sales and the dispute with authorities. Local parts they said were becoming an. The latest headline adding more headaches for the japanese carmaker. They fell the most in four years yesterday afternoons the biggest plant in china will remain closed for another two weeks because of the deadly blast in tangent. Honda is at half capacity at a plant in thailand. Nearly a year after its record smashing ipo, shares plunging to a new low below the listing price. Just how bad Market Sentiment is now in china that has spread to wall street. Adding to investors concerns about the internets giant slowing growth. Tobaba fell 3 at the close 65. 80. It made its debut at 68. Traders say the ipo price is important psychologically and anything below is negative. Remember when the share was 119 in november . It has plunged more than 120 billion on the china slow down. Increase competition from the rival and government reports that alibaba was not doing enough to fight counterfeit goods on this site. Talking about uber, if you still have spare change, it is looking to raise 100 million for wealthy chinese willing to put in a minimum ¥3 million. Thats about 470,000. It is called project u offer. Putof the money will be into shares of closely held uber before an expected ipo and two years. The reminder and the remainder in stakes in china. It could come with a big risks especially in china where uber is far behind a leader backed by the countrys biggest internet companies. Uber planning to invest more than ¥7 billion to expand to 100 chinese cities up from 16 they currently operate now. Business, theberg reaction to World Leaders on the Global Market rout. What are they saying . Have a look at bloomberg. Com. Only amount of time before further action is taken. Trending business returns right after this. Whyill be checking out, they are changing the name of the Hotel Business and will it make a difference . We are back in two. Rishaad we are back. Back to the Global Markets. Septemberion of a rate hike by the fed is highly unlikely says our next guest. How important is this in the grand scheme of things . Guest well, i think there is no doubt the market is going to melt off. The equity market, what is more noeresting is it seems to be clear catalyst of how it happened. Some people and some analysts probably blame it on the Slower Growth of the commodities slumped and aversion risk and china slow down. All of these things have been happening for a while now. It it gets sharper in the past few weeks or so. Rishaad clearly, there was a trigger. , theriday report, pmi data weakest since march 2009 and that is when the park geunhye set rout sets in. Bernard aw on top of that, you probably have the devaluation triggering fears and possibly the devaluation across the globe. And with pmi numbers, there will be further slow down or weakness in a chinese economy. Probably take of that as an opportunity to sell off. I do not think it is a clear catalyst. Is is a obvious reason for why we are seeing the global slowdown, global weakness in the equity markets now. That could be some other reasons ,f positioning in the market perhaps even high valuation such as in the u. S. Market. Rishaad amazing valuations there. A little bit of a comeback today , off of the lows of the session. Toyou see sanity returning things in the next few days . It is really think difficult to see if well see at a bottom especially from a technical perspective. It seems to suggest there could be a bounce. I think some markets numbers showing we could see a bounce as long as the numbers of stocks in the index such as s p 500 is below 10 . S p 500 is hovering around 8 . I would not put too much emphasis on this kind of technical trading. It is on the downside. We go probably see how the asian markets perform today to have a better gauge of the overnight markets will perform tonight. I think it is a vicious cycle going on simply because the market is unsure of what clear catalyst of the slow down. We are seeing it happen again on monday and a last friday where the asian market is down. And risk aversion carried over to the u. S. Market and European Market and the same cycle. Rishaad how do you turn the vicious cycle into a virtuous when one . Can it be massive qe from authorities in china . Theard aw i think now question is how do we stop the stock market rout . Sectors probably two could probably caused concern in the market. Seeof which is we should some kind of policy response, especially from the asia side. European,en japan, and probably the u. S. Markets. We should see more coordinator response in asia. China, a lot of people looking at china and pob see to be the pob see to be the leader. Pobc. People are disappointed that pboc did not cut it. Given the intensity all the stock market rout, a triple r is probably insufficient. I think mornings to be done in terms of easing measures and probably i think more needs to be done in terms of easing measures and probably opening up space. Rishaad policy responses out of that pboc. China and jetting 150 billion yuan, a reverse repo setting the reference rate higher against the dollar from yesterday close at 3. 987. Pererdays close at dollar. The pboc did not intervene late in the session yesterday, allowing the currency to weaken by 0. 25 . Did not intervene heavily in the last 30 minutes and that was influencing sentiments. This morning as we set the reference rate, there is an announcement there is going to be reverse repo of 150 billion yuan injection and the reference rate slightly stronger against the dollar. Rishaad getting back to bernard. What you make of that . Does it make any difference . Bernard aw i seeing all of these measures the pboc putting out has been shortterm in nature. A stronger policy response is probably needed and rrr rate cutting probably will be one of them. More nice to be done in terms of reform. We should seek coordinated response from some of the other asian countries. As in really pboc needs to take the lead in term of the Global Market now. Rishaad thank you. Bernard aw from ig asia. The commodities have been taking a hammering there. How bad will it get . What will the numbers tell us and what are the prospects of the future . This is trending business. Rishaad this is trending business. I am rishaad salamat. Bank of china, good out with 23 billion worth of reverse coming out with 23 billion worth of re verse repo. Commodities, we are recovering a bit. Off of the lows of today. Singapore more positively in positive terrain. Will not seen that move. Nikkei 225 up by 1. 5 . Carmakers driving things lower. Those start of trading in hong kong. Premarket session coming to an end. I look of what happens there and the prospects. And we will come to that in a second. 1. 3 . New zealand, positive. We get to the whole call the market. A look of what is happening. Hang seng off of 5. 2 decline yesterday in the session. The hang seng is down and premarket. Julia sally at the Juliette Saly at the stock market. Juliette good morning. Coming from the hong kong in ange, trading under way 10 minutes time. In pretrading, the hang seng index falling. I am watching the futures on the bloomberg system calming the room and it is dramatically widened coming through a it is dramatically widened area the news that the pboc injected 150 billion yuan to prop up the rout we saw yesterday. 10 minutes ago, it looked like the hang seng what fall another 2 . Futures are quite narrow ring at the moment. At one point an adult black. We could see buying. At one point, in the black. Ungeing into the red, the pl was the fastest on the hang seng index since the Asian Financial crisis in 1997. The only good news is when the market reopened following the crash in 1997, we saw markets. Ise and having a big again hopefully we will see it is just on the radar and things will look better in the coming weeks and months. Rishaad thank you, juliet. One of the companies common guy with the numbers. Shares on the upside. London later from today. Will follow byit nearly 50 . David in melbourne. What should we be looking out for . Good morning. It will report fouryear earnings later on today and looking at the consistent forecast on the bloomberg system , the average of 18 analysts as the underlined profit will drop 45 . Not do much of good news and prospect for investors as there. It follows a wider trend we saw yesterday. Reported net income dropped 88 earlier this month, rio tinto reported first half underlined profit sell 43 . What were seeing is the tumbling Commodity Prices from weaker demand growth in china. That is translating on the bottom line of the biggest mining companies. That is what is in prospect later. I guess investors will look to see what bhps outlook is on the china economy. Is whether the miner confident in its biggest customer, china. Rishaad what about impairments . Always look for impairments when it comes to commodities especially Commodity Prices slumping . i am afraidr there is no vexing news is there either. Isa their earnings outlook it bad enough, significant down to the company. It a slant last month it expects to take an impairment of as much as 2. 8 billion u. S. Chiefly on a shell gas in the u. S. More bad news there i am afraid. Speakingdavid stringer about bhp. The chief executive will be here 9 30 a. M. Hong kong time. Moments away from the start of the trading day here in hong kong. Shanghai and we are seeing a big fall. The hang seng is down a fraction as well. Yesterdaywhat we saw on the monday session, black monday, some called it. 8. 5 percent. Hang seng nearly 5. 2 lower. We have the opening numbers when trending business returns and we are at the Hong Kong Exchange as well. Rishaad our top stories. Opening more than 6 lower in other asian stocks are opening lower after the global selloff on monday. Drops of more than 4 on nowralian and taiwan and back to positive terrain. Mining suffering. Sinceities hit the lowest 1999. Crude recovering below the 39 level. Brent below 45. Plagued by oversupply and continuing weakness in demand from china. Honda down on news of production cutbacks. It will stop making the prius because of slowing sales and a local dispute. A twoweek closure at a plant explosion. Honda is planning to have capacity at a plant. Here we go again, david. Not know howi do to describe what is happening. Down 6. 5 . Barely at 3000. 3004. Week,ast tuesday, about a 25 down for the shanghai composite. Supportt call mild measures announced a few minutes ago. Pboc will inject 150 billion yuan, reverse deep post a lot of it will go to offset those today. A net effect of of those. And have tona offset that as well. At some point, the currency has to give. Lower, can we get it up so we could see the level . That, sticking with the yuan, breaking news as well and perhaps a byproduct of investors staying away. Deposit rates in hong kong for all sure spiking offshore spiking record spike, i should say. 23 for one week. Theds like a brazil in 1980s. That being said, that is what asia is doing. , reports ofngapore a bear market for both. 2. 5 ppine stock exchange, and down 7 yesterday. That one is picked up by foreign investors. Shanghai composite, 3004. Let me drag it in. 3036, doing a little better. Levels, that is what. Bear market. Are now down 6 year to date. I will leave it there. Rishaad thank you. Sallychange here, julia is there. Juliette saly is there. What is happening . Juliette probably shouldve kept talking, we saw the losses pare back on the hang seng index and opened down 100 points. Now, it just moved. Nothing likets, what were seeing on the shanghai composite. When i look at the map, we are ns from financial stocks and looking pretty flat. Consumer, where investors fly to when we are seeing downward pressure in equity markets. One opening up by as much as 7 . Aia group doing well. Of 7 in the financial space. Looking at the overall index, utilities down by 0. 3 . Diversified stocks down by almost 2 . The biggest drag on the market right now. Not looking like we was the 5. 2 slump we saw yesterday. Rishaad never say never. I look of what is going on. Here is yvonne. The great fall of china. Even bank one of many yvonne one of many interesting hashtags. Trendingday, a big one. All on monday. There are reports the stock market prices were pretty hard to search on the chinese search engine, baidu. Overall, interesting to see the time lapse. I will show this later. You can see the blood monday spread all of black monday spread all over the world. Heres what users are saying when it comes to this crazy day of selloff. I keep going . Some people down plane. One person saying here is was one user said finally, other people talking about the black monday saying the media seems to be hyping it up too much. One said back to you. Rishaad what is going on in singapore indeed and kuala lumpur. Over to has london haslinda. A little bit better today. Haslinda not actually. Market. N a bear from 2014 high. Indonesia wanted to bear market on friday. Not looking too great. The asia index falling further after posting its biggest drop in seven years. Malaysia hard hit. More than 3 billion flowed out of equities. Down to percent this month. A 17 year low. The worst performer in asia. A plunge in oil prices not helping. Concerns and exporter, about dwindling reserves. A selloff to indonesia. Territoryark in bear down 20 from a high in april and lost 9 in the last five days. Global funds pulled out almost 1. 5 billion dollars this year. A dollar at that level for the first time in 17 years. Not looking pretty, call it ugly. Rishaad talk to me about manila . Some seeing it is a haven . Islinda the operative word relative. ,o level supporting investment safe because it is less reliant on commodities. Not susceptible to weakening prices. Yesterday, the philippines most insulated from a slow in china and hard to think of a country in a better position. But investors are still settling and getting out of the philippines all the same, stocks at a sevenyear low. Authorities said it is due to a technical glitch. It was damaged control. The authorities have denied such allegations. A beating all around. Rishaad haslinda. Flavor of what is going on with individual companies, high profile of how bad intimate has gotten their sentiment has gotten there. It is nearly a year since we had the world beating with the initial Public Offering for alibaba. That psychologically is quite damaging. A couple of things going on. A company struggling and competition. To aue growth down twoyear low in the latest quarter. Some concerns by the government in china of the selling of counterfeit goods. Ofres been a number different pressures since the ipo nearly a year ago. September the 19th was day one and their record ipo. 93, up from the listing price of 68. It arose as high as 119. Maybe we can bring of the chart. It rose as high as 119 on november 10. Own before the selloff it tells you there were worries really about the market in china and Growth Potential and competition as well. Billion and 120 trades at 65. 80 below the ipo price. Yesterday, it got caught up in the sentiment and was down as much as 15 midsession. A number of different pressures, trying to diversify growth areas and investing with Online Platforms into russia, brazil, india and bought a big stake in brickandmortars. Doing a lot of things. Much, on suchg so an inquisitive streak. Stephen and bought back some of his own shares. Rishaad when the stock is beaten down like this, what are people saying, a buying opportunity . Stephen do you want to catch a falling knife or a bounce up . According to a bloomberg survey, analysts saying most of these were updated and the last co