Transcripts For BBCNEWS Asia Business Report 20170103

Now on bbc news, all the latest Business News live from singapore. The bell for 2017. Where should you put your money this year, and will economists or fortunetellers have the upper hand on predictions . And remember when the latest technology looked a little like this . We take a looked a little like this . We take a look back at 50 years of the worlds biggest Consumer Electronics show. Hello, and welcome to Asia Business report. 2016 was a mixed year for the global economy, and for the markets as well. The dowjones is at record highs, approaching 20,000, and the us dollar is very strong. The british pound on the other hand took a beating after the country voted in a referendum to leave the eu. Now, in this region it was the Chinese Markets that actually ended up Chinese Markets that actually ended up underperforming in 2016, while thailands Stock Exchange was the standout, closing at around 20 higher despite Economic Uncertainty there. Now, most markets are reopening for the new year today. So what should we expect, and where should we put our money in 2017 . Earlier i spoke to Mike Mccarthy of Cmc Markets In Sydney and asked whether we will see the us rally this year. Certainly in the short term that seems likely and ahead of the inauguration in january term that seems likely and ahead of the inauguration injanuary it looks like markets are likely take a positive trajectory. They have been very cautious although we saw some enthusiasm and buying toward the year end. Last day of trading was a bit of a visit for most markets and that restrained positioning gives us confidence that we will hold ground 01 confidence that we will hold ground or go ahead in the short term. Longer term, potentialfor or go ahead in the short term. Longer term, potential for Policy Changes in the us are of concern, we are expecting extreme volatility this year. Do you think that volatility will extend it to this region as well . Rather unusually we saw markets like thailand and indonesia performing well. Will they continue to do so . It seems quite likely, in particular indonesia where we have seen narrowing account deficits and improvements in Interest Rate environment. It seems the settings are right for further gains for the sharemarket. There is less participation in the thai market, but nonetheless coming from a very modest base after many years of political uncertainty, and there is once again potential for further gains. They might not be the regions again this year but there is no reason to think they will give up their gains reason to think they will give up theirgains might reason to think they will give up their gains might not lead the region again. And another market with Strong International participation is the chinese market, we saw them going gangbusters in 25th tea m we saw them going gangbusters in 25th team but that wasnt the case in 2016. It wasnt, and there was a bit of a diverges from the Steadying We Saw in the overall economy against what was a weak performance from the sharemarket but as many pundits will point out the economy is not the markets and the markets it are not the economy. 0ver is not the markets and the markets it are not the economy. Over the long term we expect the two to move in rhythm. So we see some catch up on Chinese Markets, as investors on the ground in china recognise that they have been underperforming, and that there might be a case for higher share prices in china itself. That is the view of the markets in the year ahead. What of Global Economic events . After all the surprises of 2016, Asia Business correspondent has been trying to find out who might have the best predictions. It is that time of year when many asians head to the temples to pray for good luck and figure out what is in store in the year ahead. Neither financial forecasters nor Fortu Netellers neither financial forecasters nor fortunetellers accurately predicted what happened in 2016, so if eve ryo ne what happened in 2016, so if everyone is guessing, who is to say what is going to happen in 2017 . Well, this area is filled with Fortu Netellers well, this area is filled with fortunetellers and numerology, and i am here to meet one of them. Master alex. As well as an economist at a private bank, i will be talking to. The us and china, what kind of relationship will these countries have in 2017 . It will be interesting to say the least, you are talking about the two largest economies in the world. You are talking about china, who is ascending in terms of looking to play a larger role in global politics, and global trade. So how it will play out really all depends on how mr trump is going to deal with some of his Contentious Campaign pledges, especially targeting towards china. As you know, next year is a fire rooster. From the fire risk you will have a lot of problems that are going on. That means you will find that this will give a lot of problems, which means to say that there will still be hiccups between the us and china. Sol be hiccups between the us and china. So i think trump has to put in a lot of effort to make it work. What about the biggest driver of growth, though . What are they going to be next year . Looks like maybe next year the driver will be the recovery in consumer demand, on the back of recovery and jobs. That could translate into investment recovery, perhaps with a later lag towards the end of the year. Five years is 1. 0, 1. 3,1. 5, end of the year. Five years is 1. 0, 1. 3, 1. 5, 1. 6, end of the year. Five years is 1. 0, 1. 3,1. 5,1. 6,1. 7. So next year is the last year of the five year cycle. So on the first half you will see things still on a downside, before it picks up. What are the big surprise in 2017 . The risk will be one we are mindful of, coming from popular push back against antiestablishment itself. The rooster is never a good year, to be very frank with you. There are a lot of troubles between families, between companies, even between couples. Well, that doesnt bode particularly well for any of us. I think it is time for me to get my fortune ta ken think it is time for me to get my fortune taken for think it is time for me to get my fortune ta ken for the think it is time for me to get my fortune taken for the many 17. Take it away, master alex. Fortune taken for the many 17. Take it away, masteralex. Fortune taken for the many 17. Take it away, master alex. 2017. Fortune taken for the many 17. Take it away, masteralex. 2017. In other Business News, for the first time in more than half a century, swedens is selling Car Of The Year was not a model by the countrys owned volvo rand, instead it was the vw golf. The last time this happened was years ago, when the beetle was the top selling car. The swedish Car Manufacturer is owned by a chinese automaker. Chinas 63,000,000 dollar Football Player 0scar arrived to cheering fans in shanghai as he sta rts cheering fans in shanghai as he starts playing in the Chinese Super league. Chinese Football Clubs have been paying record fees to lure top talent to china. The former Manchester United Player Carlos Teves recently signed with a rival clu b teves recently signed with a Rival Club Ina Teves recently signed with a rival club in a deal worth 86 million, making carlos teves the highest paid footballer in the world. In the Consumer Electronics show, getting under way in las vegas later this week, we will be sure to see a whole number of new mobile devices, Gaming Consoles and lots of other gadgets being unveiled. It is an annual fixed for most Major Tech Companies and it is now in its 50th year, would you believe annual fixture. It isa would you believe annual fixture. It is a different show that it was when it all started back in 1967. Enriching the lives of orion, education and entertainment at a very, very reasonable price enriching the lives of everyone. Very, very reasonable price enriching the lives of everyonem is phenomenal. It is absolutely show. It is an event called the National Association of music merchants, the namm show, and we attended the Consumer Electronics portion, and the guy who hired me said that is really unacceptable, and he convinced the board of this non Profit Trade Association that they should launch the show, and they should launch the show, and they did in 1967 in new york, called they did in 1967 in new york, called the Consumer Electronics show. It was successful, at its launch it had 70,000 people and 100,000 square feet and it generated a lot of news. There were only really three main products, tvs, radios and photographs. Phonographs. Ido i do believe that the human touch, the live experience of being with a real person, is something that will not be replaced in 50 years. And as long as we will take honeymoons with out long as we will take honeymoons with our loved ones, live, there will be opportunities for Business Events like ces where you actually physically are with other people and get to know them on a personal basis. And you can catch more of our ces coverage online. A very quick look at the markets now. Amongst those that have opened here in asia we can see that the all 0rdinaries Overin we can see that the all 0rdinaries over in australia, that has been doing pretty well. It is pretty much taking its cues from european markets, which mostly rose on monday after stronger gdp data from the likes of italy. Speaking of gdp data, i should tell you a little bit about singapore because it has come out with its annualised gdp at 3. 7 forecast, while gdp on the quarter rose 91 so that may give the markets here a little bit of positivity. That is it for this edition of Asia Business report. Thank you for watching. The top stories this hour Turkish Police say this is the suspect they are hunting over the deadly istanbul nightclub attack. So called Islamic State says he is one of its followers. Is has also carried out a string of bombings in baghdad targeting shia muslims, killing 35 people. The highly influential art critic, writer and Painterjohn Berger has died at the age of 90. His pioneering tv series Ways Of Seeing was turned into a bestselling book, and he won the booker prize for literature in 1972. 0ur arts editor Will Gompertz looks back at his life. The process of seeing paintings, or seeing anything else, is less spontaneous and natural than we tend to believe. John bergers 1972 Bbc Television series Ways Of Seeing changed the way many of us saw. I want to question some of the assumptions usually made about the tradition of european painting. He argued that the advent of mass media fundamentally altered our perception and appreciation of art. Reproductions distort. Only a few facsimiles dont. Take this original painting in the national gallery. Only what you are seeing is still not the original. Im in front of it, i can see it. The programme was to become iconic and highly influential, but would not, he told me a couple of months ago, be made today. We had four months to make these programmes, with nobody ever coming to see us. And, afterfour months, an incredible amount of editing and reediting, we offered it to them as the fait accompli. I mean, in circumstances of Making Television which could never occur again, and which were miraculous for us. John berger challenged convention, the establishment, and us. He had the eye of an artist, the intellect of an academic, and the charisma of a born performer. The lights are kept low so as to prevent the drawing from fading. He was, though, above all a writer and storyteller. The activity of writing has, for me, been a vital one. It helps me to make sense of things, and to continue. He enriched our lives through his novels, poetry and criticism. He showed us how to see, not as individuals, but together. John berger, who has died at the age of 90. Time now for all the sports news in sport today. Hello. Im marc edwards, and this is sport today. Were live from the bbc sport centre. Coming up on our programme liverpool drop points after sunderland hold them to a 2 2 draw. Jermain defoe the hero once again. Its six Consecutive League Wins for Manchester United, who see off ten man west ham. And hes back the fed express rushes through his return after a six month break from tennis. Hello, and thanks for joining us on sport today. Were going to kick things off in the north east of england, where sunderland fans can celebrate the start of 2017 with a precious point against in form liverpool. Two penalties from Jermain Defoe saw the black cats draw 2 2 withjurgen klopps side. Sunderlands top scorer making no mistake from the spot on 25 minutes after Daniel Sturridge had given liverpool an early lead. He would later be taken off with an ankle injury. Sadio mane restored the visitors lead, but it was the senegalese who was at fault for the equaliser when he handled the ball to give the hosts a second spot kick. It means liverpool are five points behind leaders chelsea, who play on wednesday