business as usual elsewhere. the jobs report is playing out in this part of the world. >> yes, that is another a -- another big one. a chance to react as far as the jobs report. 74,000 jobs added to the u.s. economy for the month of december, well below the 200,000 estimate. what we saw was a drop in yields as far as government treasuries are concerned. just about the lowest level in about a month for the u.s. 10- year as far as yields are concerned. broadly speaking, this is what we are seeing in the equity markets this morning. is really about dollar weakness which is seeping through to various degrees in the asia-pacific. once again, we see dollar weakness, asian currency strength and a lot of these out,ts -- as was pointed japan,he holiday in second week into the year and we have already seen for public: days. anyway, we will see how that pans out tomorrow. we are seeing the currency, the south korean won strengthening. we will see how that will impact the markets. on that note, back to you. pastey couple of minutes 8:00 in the morning in bangkok. thousands of police and troops have been deployed. antigovernment protesters are attempting to bring the city to a halt. this?are we in all of what is the feeling of success or potential success for these demonstrators? >> you talked about the incident last night. there have been sporadic incidents in code incidences. right now, the mood is pretty tense. where we are transmitting from, we are close to a train station. we are also close to two intersections where the protesters are. .es, there is apprehension yes, bangkok is on the edge. of political lot commentators who say that perhaps this protest has been going on for about two months. the former japanese prime minister is leading the antigovernment movement. he may be losing support to kaz this movement was meant to be peaceful. it is turning out to be violent and he may be losing support because of that. we have yet to see how this pans out here to protest is selected to begin in half an hour. >> there is talk about these rumors for a plan to instigate violence. what are you hearing? emphasizemportant to that these are rulers and, given such a huge demonstration, it is fair to say rumors are swirling around here in what we are hearing from political commentators is that this particular protest is meant to instigate some kind of a reaction from the military, military intervention. what we are also hearing on the ground is that we have the antigovernment protest leaders and selves inside a small but violent incident. military to make the involved, perhaps make the city unmanageable. like i said, leading up to this particular day, we have seen some incidents, but so far, no incidents today just yet. >> tell me what the governor is doing to allow bangkok to cope with the shutdown? are we seeing any impact on business? >> businesses are open as usual. the financial markets are open. the bot has continued to drop. it has dropped about seven percent since november to the lowest level in three years. as far as businesses are are urging for some kind of speedy resolution. there is a lot of frustration among the businesses. on the part of the government, it has put in measures to help the city cope with the expected challenges of the day come of the week. trains, which are running, are running a better frequency. you see train after train trying to cope with the expected rising commuters. the numbers are expected to double. tourism has been greatly affected. it has fallen 10% of the gdp of the country and already grow operators are saying that occupancy are likely to drop 40% to 50% from the normal 80% to 90%. >> thank you indeed. inside the clinical instability, there is impact on the thai baht its particular. >> yes, you talk about instability and all of this political uncertainty in bangkok. and you're looking at the dollar-bot, where looking at not much of a move. you can see this one-week chart. the problem is, if you look at facter, two years command for years, we are close to a nine you have all of this uncertainty. htm april of last year, the ba has lost its value. let's take a look at the aussie- dollar. a little blip on the right side of the screen. since mid-st time december. it is also strengthening against the u.s. dollar. it is dollar weakness today. >> thanks. volkswagen, deliveries up 60% in china. and his goalng vw to be the world's biggest carmaker by 2018. the infiniti brand is expecting to match sales in china, japan 54% --h death jumping jumping 54%. it will be the biggest market in the decade. a new love prohibits new exports -- the new law prohibits new exports. some water ban has implications. wider implications. >> we are watching a lot nickel producers gaining right now. some of these things have been brought up by analysts and unlikely to be impacted to various degrees from this export ban over in indonesia. it all depends whether or not first what kind of grade of ore these companies buy and whether or not they have those assets and facilities on the ground to the short- make up term gap in supply because of the baht in indonesia. we see nickel producers higher here. we will continue to follow this closely as markets open in china later on. we do have chuckle, the biggest aluminium producer in china. , the do have chalco biggest aluminium producer in china. >> banking regulators have agreed to soften their lending restrictions here in it is a, kitted income validity issue. john is with me with a look at the details. explain it to me. >> i will try. we have the three areas that they will try to water down. first of all, avoid double counting of derivatives. derivatives have been hit the . two, limiting the netting of purchase agreements. the ideas of there have been a lot of complaints by banks that they can't help small businesses because they need to have a far larger reserve capital to cover the requirements. therefore, we can't remove the loans. the second reason clearly is also the need of double flux ability. >> that is one of the major criticisms of all of these -- of . uble flexibility >> that is one of the major criticisms of all these basel requirements. nin be too big told fail happening again. marioel is headed up by draghi who says come ok, we will water it down. adjusted to see if the banks do so. again, the perp pozo hasn't been finalized as yet -- the proposal hasn't been finalized as yet. we will see again the finalization of the leverage .atio going forward >> this is not the first time that it is been watered down. philly --citigroup when is citigroup. they want to be held back because of the loan and leverage for the link the restrictions. length of the restrictions. we will see what they do in response to this. >> we will head into a brick. -- into a break. we saw the precious metal jump on friday. expects goal to see a recovery this year. we will ask them how far it can go. >> what we saw after the judge -- after the friday jobs report kite -- isu.s. is quite confusing in some regards. thank you for joining us. it was an interesting report in that it threw up a lot more questions than it answered. at thishould be looking report into much detail because there is a cold spell in the u.s.. >> we forgot about that. >> that limits expectations. but reaction shows you that it is developing trends recently. i would really be looking into it. >> i think we have goal that 1253. what it did do is make everybody throw their toys out of the tram because they are thinking about the stimulus again and the fed hold and what does it do exactly. i believe this rally is short- lived. >> i think so as well. i don't think the stimulus is playing such a big role for gold at the moment. q3 from the beginning was not having much impact on it. so i melissa prized -- so i am really surprised that tapering would affect gold so strong. -- equityzation of growth. >> it is like a drug addict that such andring as finding things are looking a bit different. but the etf's were out of the market a few months ago and they're coming back. is that one of the principal reasons we are seeing some base formation? youhe normalization means have no need for the safe haven. you have interest rates nominal as well as real interest rates rising. so the etf holders are likely to switch to equity markets. emerging,nk is really which has not been there for many years before is the chinese demand. hong kong as a transfer have to playing an extremely important role as of recently and is likely to be probably the make or break for this year. >> what do you mean exactly? >> should chinese demand continue around 100 tons per month, then we're likely to see a strong recovery in gold prices. but should the chinese buyers become fed up with the negative performance of gold and etf sell,s will continue to then we are likely to see further slide in the gold rices. $1200 is a very important trade. [indiscernible] india is the [indiscernible] [indiscernible] it continues to sort out its current account issues. to do that, they put all sorts of restrictions on buying gold. they could deepen those restrictions can affect your research entirely. there is no way you can heal healing theby symptoms. you have to go after the reason. gold exports is a weakness of the current say which is more reflected. i spectrum was he a gradual recovery to the whole year because all of these negative factors are probably already in the gold price currently. talk about theen dollar, which is often a function of what happens to the gold price. thank you so much for joining us. >> thank you very much. coming up this hour, the tennis world is in melbourne. after the first grand slam of the year, we are having a look at the big numbers at the aussie open. >> the hong kong open. the first trading day of the week. in itsg seng finishing auction period. futures also indicating gains. let's change gears and take a look at the world of sports. the tennis or does has moved into melbourne for the first grand slam tour the year. we have li na eyes one of the favorites in the women's title. she was a finalist last year. success has brought her her but some sayitle, that serena williams could win all four grand slam sister, something that hasn't done since to figure did back in 1988. s this year, slam something that hasn't been done since steffi graf get it back in 1988. >> with 350 million people watching anton, the competition will be hot. if that was not enough, players will have to compete with temperatures that regularly reach over 40 degrees celsius. this week will be no exception. combat the blistering heat, medical staff are kept on standby to offer intravenous drips. the tournament even has an extreme heat policy. umpires can suspend play they believe it is getting dangerously hot. so spare a thought for the ball boys and girls in -- boys and girls. there are over 300 of them. with temperatures high enough to shrink the tennis balls and cells -- tennis balls themselves. . 20 playeill go thrgh an estimated 3000 towels while those watching will buy more than 145,000 bottles of water. and with the price pool boosted tournamention, the do be a lucrative one for the champions. the city is also a winner. the government estimates 214 meet you and dollars will be pumped into the economy -- $214 million will be pumped into the economy. up next, a look at what has been happening with the housing market in hong kong. we've got loads of curbs and many agents have their realtors complaining about the lack of actual sales. hong kong and singapore are in the mix here. and what do have is developing course, itgetting of is a market open in hong kong and shanghai. details are next. >> looking to raise some of the polls of the previous week. asia-pacific market start off on the up. metal prices jumping to the highest in a month. withe have the thai baht protesters trying to bring bangkok to a hold. shanghai starting off their anomalies.h a few >> volumes are quite low. fairly weighted indices year. then again, we are seeing an image gains across the board. these were the losses that we saw on friday. futures are indicating -- the shanghai composite has lost every single day so far this year with the exception of january 7 when it was up an astounding .1%. we will see how these indices play out. have some use out of china. china is telling companies those of you with market caps or value less than your net asset value among buy up your own stocks. discreet way to tell companies that they are undervalued at this time. the hang seng index is up. related to what we mentioned earlier, there is a front-page commentary on the shanghai. the a share market will actually stay week because of tight liquidity. we all know the problems we have seen from the shanghai composite. we have liquidity concerns and shadow banking in the background as well. arew stocks we are watching these property names. of challenges facing property developers. a lot of these names are looking .utside of their home countries we will get more details on that in just a bit. they are saying that property sales in china may slow to below 10% in 2014. they are citing research from the housing bureau in china, the ministry of housing. really more the a share market in hong kong. at this point, it is fairly good so far. and up they. >> a man shot overnight as the city prepares for major demonstrations today. tousands have been deployed counter what the protesters called the bangkok shop down. it is an attempt to capitalize the capital and topple the prime minister. counselt an did popular --they want and unpopular an unelected popular counsel. >> since election in 2011, thailand's prime minister has had a predictably rough ride. political opponents consider her a proxy for her brother who lost the top job in dramatic circumstances in 2006. they exploded into full-scale street protests and eventually a military coup. oflysts give it a 4.8 out five with the stock rising 54% in the coming year after sinking in them its main peak chain of events it in motion by the sale continues to unfold. seven years on, thailand remains. in its struggle for power. >> the attempt to shut down bangkok continues today. cash rich and opportunity poor, hong kong and singapore property developers are looking overseas. it is becoming more and more urgent for them to do so. >> because of the broader macro environment. near a two-ales decade low. last year, home sales were off 38 are sent -- 38%. singapore, fourth quarter home prices fell the first time in two years. if you take a look at some of the properties that developers are doing, oh uv by california's tallest building last year. it is looking at new york in miami. of the hong kong dollar shopping malls and apartment complexes, they will move into 14 chinese cities. oxley is building 3400 homes in london. -- and far east orchard entered australia for the first time. their goal is to get 60% of their revenues from outside of singapore. what i found interesting with these developers and their expansion plans in this year is that they are just looking at these developed regions. many have their eye on developing regions. thatsts at cushman says china is on top of that list and also places like bangkok. talking aboute the politically-sensitive environment or a nap, but developers are saying, hey, i can probably get better returns there than in hong kong or even singapore. >> they are going to follow the money, aren't they? consistentlyare looking at their portfolios saying we need to continue to diversify. one way to diversify is to look overseas. nine by 2020, about $50 million of money in asia collectively will probably migrate toward the u.s. and europe. >> there are other corporis making headlines today acp let's find out what is going on. nine >> today's tarp -- today's ,op corporate stories electrical sensors made in china , production has returned to the u.s.. honeywell says that it followed all relevant laws and traditions. authorities wanted to cut the reliance on debt. record levels of radiation at the fukushima nuclear reactor plant. with dangerously high levels of radiation were caught several miles from the site. the readings in the body were for that considered safe human consumption. china's energy with canada [indiscernible] joining us for the asian financial forum right here in hong kong. >> sydney is on the way down at the moment. we do see some gains in hong into the trading day. trading in japan, -- no trading in japan because of a public holiday. the next big industry for takeovers may be gold miners. >> 2013 wasn't exactly the best year for gold. if you want to do the math, it was the worst year since 1981. 27%. rices died .uch. big declines over that one-year time frame. nine it is almost a mirror image acp what that may likely mean is that those mining deals could rebound this year from the record lows in 2013.. most players in the industry were focused on scaling down rather than scaling up. downs and cost reductions, the biggest in the industry are expected to do better as always. the 10 biggest producers in terms of sales that may generate free cash flow coming in at $4.17 billion, the highest in at least eight years. you have a lot of these expiration companies which aren't making money or some losing money, who may also have more of an incentive to sell themselves rather than to continue to sit around and wait and try to get that money onto their books, which is what to head of global mining investment at toronto dominion bank had to say acp access to capital has been cut off because of the -- had to say. axis to capitalize been cut off restrictions. miningf these big companies are still reeling from all of the pain and the misery in 2013. neil gregson of jc -- and jpmorgan chase says that it will be tempered by high levels of debt. since large miners are focused on returns rather than expansion at this time. that is how things are shaping up for gold. it looks like this year will be a year of consolidation after the storm. on the bright side, it could be a very busy year for those bankers. live at the asian financial forum today talking about the outlook for the year acp -- for the year. >> for the emerging markets, it is a story of demand growing and trade going, but different sorts -- different sorts of trade. these economies are looking more and how they use consumption and how domestic demand changes things. given't think that expert- -- expert -- export-driven trade will lead. >> this will also be a big year , too.keovers >> we think that and then they will be a feature, a -- we think &a will be a significant feature for 2014. >> good morning to you. it is the seventh annual asian financial forum with 2000 investors from around the world here today and many notable guests. we are here with the chief representative. of experience advising companies on doing business in canada and you are an intermediary between chinese investors and the resource targets in canada. a lot of knowledge that our viewers may be interested in. welcome, for stop. >> thank you. great to be here. >> let's talk about the change in the investment law in canada that came about in april of last year. what does this mean? that is a change for those companies that might be interested in investing air. nine >> it started in 2012 after the government approved t w major transactions. one was by china international offshore oil in the acquisition. -- theer was petra noss tronas. -- pe from now on, we will not allow any foreign soe's to acquire .ontrol in an oil sand business in doing so, the government also made some changes for the reviewable threshold. transactions to be reviewable by the government, it has to exceed a certain level. right now, it is $40 million. that level will increase to a billion dollars in three or four years k2 you -- years. ss --t comes to so oe's, the government has adjusted the definition. not only companies controlled or owned by a foreign state, but also private sector companies that are effectively controlled or even influenced by a foreign government or by a foreign soe. >> it boils down to the fact the canada wants to protect its natural resources. it does not necessarily want to sell them off to foreign entities. you work on the other side of this debate as well. what are the state-owned state-ture prizes -- owned enterprises saying about their treatment by the canadian government? it goes both ways. >> of course. --se chain -- deuce changes of changes affect different companies differently. for a major chinese oil company that is looking at oil sand assets as part of its , thenational portfolio impact is very direct and very severe. de's -- but for some of the other soe's, some see this as an opportunity. some see that as a signal that is so 's will be under more scrutiny and others might soe not quite as welcomed as the private sector counterpart. finally, some may even see a con chinese soe that are there to further the interest of the state. be lookingll they alternatively? the kleins that you have, where are they looking right now? if these resource targets cannot enter data, where are those companies looking for investment? >> where they have good infrastructure and where they have more options to monetize their investments. we2014, are you optimistic will see more these deals or will it become increasingly difficult as nations try to protect what their resources are and big companies look for resources that they desperately need? >> i do not think we will see transactions -- a difficulty to do transactions. e will see how this plays out in canada. >> it will be interesting to see how things evolve. robert, it's great to see you, robert clarke based in beijing for blake international law firm. >> thank you. >> up next, better late than never. christmas arrives the astronauts of the international space station. we will tell you i. -- we will tell you why. >> a chilling effect in the u.s. with chilly weather taking a bite out. payroll numbers the lowest in two years, 74,000. pemco called it an absolute shocker. >> it is very surprising. somewhere between puzzling and worrisome. puzzling because it is such a strange number, the 74,000 jobs that were created. even if you add in the revisions from last month, you have still us than half of what consensus was and it is inconsistent with a lot of other data. itis a shocker, to put mildly. >> city bank, goldman, was five- year, jpmorgan -- a busy week ahead. >> the detroit auto show will drive monday's action when domestic and international automakers alike will descend on motor city usa to unveil the world's latest and greatest cars , including new sedans from mercedes-benz and chrysler. but perhaps the most highly anticipated is ford's new f1 50 pickup. it is the u.s. tossed best- selling pickup and 32 years. back in washington, president obama will host the spanish prime minister and discuss nato cooperation and the proposed transatlantic trade and investment partnership. on tuesday, the u.s. congress will hold a hearing on the national security agency as the senate panel reviews what has recommendations for limiting the controversial spy program. but the big news will come from wall street were jb morgan chase and wells fargo will lead the way come ushering in the work order bank earnings season. and it is bank of america stern on wednesday. also wednesday, the federal reserve will sum up u.s. economic conditions in their report known as the beige, two weeks before the bom see has to consider whether to continue but -- continue tapering bond purchases. we will hear from ben bernanke, the day after. he will be at the brookings institution, one of his last addresses as federal reserve chairman. also wednesday, goldman sachs and citigroup entered [indiscernible] 30% ink stocks gained the past 12 months, despite rising legal costs. also, friday, we will hear from general electric when they report fourth-quarter results. more in the weeks news earnings news for you right here on bloomberg television. rtu. theanta claus has reached international space station. it has come about with the arrival of a private enterprise caps on. capsule.e enterprise couldn't -- ita is carrying equipment done long- awaited christmas presents for the astronauts. >> hello, everybody, coming to you live from hong kong. this is "on the move. move.this is "on the after months of protesting, the tenant to shut down bangkok has begun. asian-pacific stocks generally on the way up, starting off the week with gains. shanghai leading the charge for change. and the latest moves on regulating the banks. kong started off it station about half an hour ago. is seeing gains are now. david, what is the guiding sentiment? did not have anything for the bears are the bulls on wall street. >> what you had was a jobs number. regardless of how you read that, i guess it does bode well, at least that is the thinking. they do have the hang seng index seeing some gains. underway. is getting if you things i want to remind our viewers -- first, in australia, home loans up only -- up 1.14%. the new export ban took effect on the weekend. you have a lot of these exporting names in australia, in the philippines, for example. perhaps picking up the slack, that will depend on the grade of ore they do mine. we had the u.s. jobs number the came out on friday, 74,000 good the estimate was closer to 2000 -- to 200,000. what we see early here in asia so far, here we go, let's look at the 10-year. the red means the yields are coming down. for example, the u.s. yields was .own to 3% on friday an the bond market is celebrating seven basis points. we are also seeing this play out in the currency market. what you have, for example, the aussie dollar. cents. u.s. and we also see strength for the japanese currency. stronger sharply for a second straight day. we were up about .6% on friday. impactssee how this equities trade as it happens. japan is closed today. so far, we have the currency markets, dollar weakness. back to you. we had slow growth in u.s. payroll. be bad news when it comes to macroeconomic concerns, but it did actually put it? on a further stimulus fullback. of course, caught in stormy fewest payrolls in nearly two years, 74,000 coming in. no economist we spoke to --tected something that low we spoke to predicted something out low. andt is between puzzling worrisome. puzzling because it is such a strange number, 74,000 jobs created. even if you add in the revisions from last month, you are still at half of what consensus was it is inconsistent with a lot of of the data. it is a shocker, to put it mildly. >> what about what is happening elsewhere? banks are certainly making headlines, this time because they have been given a read, but just a slight one. all the regulators decided to stop on the red -- the debt restrictions on banks. john, what is going on exactly? thehey have defined restrictions so they can report lower levels. of 3%o maintain a minimum capital in reserve just in case fail. buffer so this is what it is. -- june of last year. there has been an uproar from the bank saying i can't. bit, willng a little they actually now follow through and watch? mayor rug and -- -- it involves looking at the full-screen bullets, avoiding double counting of derivatives. that is the crucial one. ofivatives benefit the most repurchase agreements. not as stringent as before. the volcker rule in the states, they will be far more stringent. this will kick in until 2018. but it could happen before that. banks have been speaking out. clerks thus not -- >> thus not the first time they have softened this. which of the banks have been lobbying here? major ones, citigroup, turbine bank of america merrill lynch. but other banks are equally as local. they want to use the money they have to invest in and use those for the derivatives side of things. nothing overly, dramatic but we see some gains. -- icbcove the blanket love the banks. the hong kong banks are reacting in kind. you can't really read too much into the reaction. >> let's take a look at some of the other stories making nine outsold by volkswagen, vw taking the top spot for the first time in nine years. helping it toward its goal to becoming the biggest carmaker within 20 team. match salesying to this year. just under 17,000 cars are it is the world's biggest car market. oh yeah, and months of debate, voted. indonesia has this new law prohibits all .xports a man has been shot, the city facing its the tuesday event type protests so far. we have that -- we have >> what is the feeling then? what are people thinking for success? it is a blistering hot day here in bangkok and the heat is on here in the city, especially at the seven intersections where antigovernment protesters are gathering. their attempt is to shut down the city. whether they succeed depends on how may people and up gathering at the height of the protests in the past two months or so, we have seen two dozen protesters here in whether we will see such numbers again, there is a big question mark. heard was that he managed to get there around $100,000 from outside the city. from where we are right now, we know that crowds are gathering at two particular intersections three stations down from where --are, we can hear it shouts -- we from the protesters can hear chants from the protesters. they say that as long as the prime minister remains in power, they will continue to protest. is talk out there, a secret plan to instigate violence. what have you heard? >> we have to clarify that the's are rumors -- that these are rumors. ititical observers in, and -- and commentators we speak to say that the main intention of this protest is to instigate an incident, some kind of chaos that would force the military to take control of the situation, perhaps even install an interim government. that the are saying is leader of the protest is looking to instigate violence and safe -- violence himself, a little incident, but a violent one enough to get the military involved. on thebrief background army general who has come out to say that people should not alieve the rumor of a to -- coup. the oustinghetic to of the former prime minister who is currently living in dubai. for theld do the same current government and that is the pressure that they are putting on the current prime minister at this time. >> what is the government doing to help the capital cope with the shutdown? and what are people saying about the impact on businesses and an economy that is so reliant on tourism? if you take a look at the city, the standstill, the traffic gridlock that is happening, it is happening at the major intersections. but when you look around us, even where the train station is, you see that everybody is walking down the steps in an orderly manner. that is because the government has ensured that train operations have been boosted. they run on better frequencies. rose have been rerouted. folks are taking second routes to avoid the intersections. as far as the disruption is concerned, there have been alternatives made. tourism is impacted in a huge way. occupancy is expected to drop 40% to 50% from the usual 80% to 90%. thatl the latest say protesters try to shut down the capital. we will head back to the asian financial for him -- asian financial forum. after a two-minute break, we will be speaking with the honorable kevin lynch, vice chair for bm oh financial group in montréal. former deputy minister of finance and industry and an expansive career with the imf, we will be talking with him about the prospects for energy, canada's future and china's role in all of this. stay with us. "on the move" returns in two minutes. and welcomeing back. manye pleased to have imporant guests with us. year career under your belt. chair at bank of montreal. asiagine you travel to quite often. about china's you interaction with canada. whta is th -- what is the strength of this relationship right now? this relationship with the world is crucial today. the canada-china religion ship is quite deep -- the canada- china relationship is quite deep in all levels. people level, university level, natural resources most prominent at the moment because canada is a resource-rich country. i think it is a great relationship. it can always be better. forums like this can strengthen the relationship between our country and china. chinese companies are interested in those natural resources in canada. we note china desperately needs them. many canadian companies must be interested in this part of the world. how deep is the opportunity here? >> i think it's huge. canada has tothat follow global trends. and right now, growth is in asia. growth used to be in the oyster in countries hit been out has moved to asia. so canadians -- growth used to be in the western countries. now it has moved to asia. canada is one of the most energy-rich nations in the world. but 100% of our exports go to the united states. yet most of the incremental amanda in the future will be here in asia. the challenge for canada's to diversify -- yet most of the incremental demand in the future will be here in asia. the challenge for canada is to diversify. needing to act before asia finds other supplies. it is a tricky balance. >> for both sides. diversify its sources of supply and canada wants to diversify sources of demand. so there is mutual self- interest. that is the key to doing deals. how do you turn that mutual interest into opportunities? the area that we will hopefully see the exports in the first place will be in the lng space. opportunity for north america because shale gas at reasonable prices. asia has to import most of its gas at quite high prices. so is that nash so there is a huge potential for a deal to be made. -- so there is a huge potential for a deal to be made. globals talk about your outlook. you spend a lot of time researching, writing and talking about this. tell us in your view how this performance.mic 40 yearse first after the war, the emerging markets were in the slow lane. in recent years, that has switched. there's a tendency to think becauseeacus -- that's of the recession. we have to be a part of the new emerging market growth. >> there is a lot of concern that tapering will have a big impact on south east asia. what's your perspective? will benk china growing strongly on the long term. >> 7% is enviable. we are pleased to have him. back to you. through the zeb cours4eo -- the course of the program. jpmorgan, welss banks earnings season. show willroit auto usa.nd on motor city, highly the more anticipated is a ford f-150. washington, president obama will host the spanish prime minister at the white house. they will discuss nato cooperation in the proposed transatlantic trade and investment partnership. on tuesday, the u.s. conyers will hold a hearing on the national security agency as a senate panel reviews what has recommendations for limiting the controversial spy programs. come fromg news will wall street where j.p. morgan wells fargo will lead the way, ushering in the earnings season. on wednesday, the federal reserve will sum up the economic conditions in the report known , two weeks book before the beyond c needs to consider whether to continue tapering bond -- before the bom needs tofore the bomc consider whether to continue tapering on purchases. morgan stanley rounds out the week on friday in big enck on friday.ed some -- big bank stocks gained. we will have more on the weeks news in earnings for you right here on bloomberg television. headed to a break, but coming up in a moment, we are talking about indonesia. new rules on raw materials. they are try to keep control of the wealth. we will head over to jakarta and have a look at that. is thef course, it composite index getting underway for the first trading day of the week. it is all coming up after this very short break. "on the move" returns. >> the start of the trading week with a gain with equities being started with a strong start in jakarta. the priceless metal has hit levels we haven't seen, a one- month high, in other words. and the attempt to shut down bangkok, these images are coming from the thai capital. looking at what is happening as far as japan goes as it heads towards its lunch break, but it is coming of age day over there. -- the nikkei to 25 in tokyo 225 in tokyoei t is closed. when we looked at the levels of the market, number direction. -- no clear direction. there is more pronounced movement in the markets right now in asia. japan arekets in closed for coming-of-age day, one of the 20 holidays, the fourth so far this year. the dollar is falling for a fourth straight day. dollar yen is falling the most in three months. the take a look at the euro, we are closer to 1.37. 1.3680 for the euro. there we go. of course, the south korean won also inching closer to its five- year high, which is about 1050. currencytrengthening for a fourth straight session. that is driving up the value for a lot of these asian stocks and for the euro and sterling. that is what we have for the moment. >> after months of debate, indonesia signed a law banning the export of minerals. what exactly is the motivation here and what exactly happened? let me tell you first that we have two important news of the week in the code affected the course of investment in indonesia, particularly in minerals. oregulation banning all exports came into effect yesterday. signed thent relation or the weekend after an 11th-hour meeting of government ministers. indonesia accounts for 3% of global copper supply, 20% of global nickel supply and up to 10% of aluminum. market participants expect the new ruling to cause revenue of mineral producer related from 2014to weekend and mineral-related companies on the indonesia stock exchange account come around 10% total market capitalization on the indonesia stock exchange. the government over the weekend gave a green light for state- owned gas and oil company to stake. a majority this acquisition in the long run is expected to boost their whichss sustainability will increase its share prices. this morning, we saw gains in nearly trade in it is now falling less than 2%. let's look at the mining stocks. again about -- a gain of about 2%. that is the latest in jakarta. back to you in hong kong. >> let's get more reaction to this export ban. is also playing out -- we have been saying justin with these basic mining stocks -- saying this just in with these basic mining stocks. >> if you see green on the board, that means strengthening. it is confusing this morning but it is strengthening. pt bank has said, given this new export ban, it has been priced in as far as the rupiah is concerned. at the take a look impact it is having on the equities market, up 2%. points thereof0 the level on thursday. you also see one of these companies listed on the stock is gaining on the prospect that it could make up some of the slack because of the export ban. in australia, we are also seeing this play out. these are some of the names impacted because of the new rule. it will depend on whether or not, first, they have the assets in place to process iron ore to make up for that fact. let's look at the big boys. not a lot here. nine the price this is -- not a lot here. actually putting out one of their estimates here and they are saying they do expect correction in iron ore prices late into the first quarter. despite that, you have jefferies upping the ratings on all three of these stocks. , still rio tinto . nin rie basted disagree back to you. have seen at gold, we a tumble in recent months. mining deals suggested that we could see a rebound when it comes to the precious metal. 2013 wasn't exactly the best year for gold. it was the worst since 1981. gold prices dropped approximately $450 an ounce. so that has driven down shareprice returns in the last 12 months to losses we don't normally see. you can see this trajectory is a downward slide. it is almost a mirror image when you look at other minors. downward slide, you can see me crest mining off 66%. -- whatt means that that means is that gold mining companies could bounce back this year. in 2004.e lowest most of these players will focus on scaling down rather than scaling up. looking ahead, after all of these write-downs and in their cost reductions, the biggest industry -- the biggest in the industry are expected to do better as always. the biggest producers make create cash flow of $4.17 billion, the highest in at least eight years. you have a lot of these expiration companies that aren't making money right now and some are even losing, bleeding cash. they may have more incentive to sell themselves rather than financing themselves, essentially try to get a hold of that cash. head ofexactly what the global mining investment at toronto has to say. obviously, the stars may be more aligned for more deals, that is of course if you have to consider the risk appetite. they may encourage others to build a trigger this year. and one of the mining companies are still reeling, hurting from the misery they fell last year. neil gregson of jpmorgan chase says that the demand for gold will be tempered by high mortgage debt. gives you a sense of how things may shape up. it looks like we may see a year of consolidation. as is all after the storm from last year. but it could be a very busy year for those bankers. >> up next, wall street banks setting their stakes in chinese lenders last year. bank.l hear from scotia you are watching "on the move move."- "on the >> this is a look at our top stories. --an stocks are rising after winding back the stimulus. the bitter weather taking a bite out of last month. 74,000 jobs created. no economist we talked to could dictated that. >> it is very surprising. it is somewhere between puzzling and worrisome. puzzling because it is such a strange number. in the revision from last month, you still are at half of what consensus was and it is inconsistent with lots of other data. it is a shocker to put it mildly. >> big names in global banking early. the plan will be diluted, but not without keeping capital ratios intact. the thai government has deployed thousands of soldiers as an. prepares a citywide demonstration. razz bangkok -- of soldiers as bangkok prepares a citywide demonstration. we will get you back now to see what is happening at the asian financial for him right here in hong kong. forum rightnancial for here in hong kong. >> we are joined by rod reynolds. you are president of asia pacific and the middle east for scotia bank. i was fascinated to learn that you are the largest canadian bank operating in the asia- pacific. >> we have been here for 50 years. we are in 12 different countries. it is a big part of scotia banks growth globally. >> it is interesting to see a the asia-pacific so central to your strategy. i think china is at the center f all of this. talk about anything we might expect in the year ahead in terms of acquisitions. >> we have three branches and we have our new ships in china. doing it is the fastest growing retail market in the world. it is a market everyone has to focus on. we are focused on organic growth. we are looking at organizations that fit within our shortage and make sense. interest in one bank. >> i'm sure that you would like to expand in china. i'm sure you've gotten a lot of the bank lately about here in hong kong. what can you tell us? that is the kind of lender that you would be interested in to tap into in the china market in a more meaningful way. >> i cannot comment on speculation. china market, the with the reforms that are dramaticallyl increase foreign bankers in china as well as taking care and growing the chinese domestic marketplace. we are focused both on the organic growth and the opportunities that may appear. >> as you look at the chinese marketplace and what the government is doing, what is your assessment of the reform, the financial sector reforms? do you think they are on the right track? what concerns you? shadow lending? local finance? what concerns you with respect to china? >> we are worried about the reforms from the recent announcements. we think that will continue to toow free-market forces chinese businesses to grow, to increase both their imports and their exports. that offers lots of opportunity din the banking sector. the bank sector is still fairly restricted. we monitor it very closely. we are happy with our investments there. we would like to increase the money time permits. >> getting in position -- >> we are in a well-positioned. >> talk a little bit about your opportunities and thailand a particular, you significant investment there. >> asian countries are of a particular focus for us. there is growing regional integration. there will be a financial pass porting for banks in that region. we have four operations, singapore, vietnam, malaysia and thailand. significant him a -- thailand has our most significant. 4 million in retail, small business and corporate customers in 700 locations. very much on our minds now given the political uncertainty. but a very well-managed bank. i was monitoring it this morning. all of our branches are open and thailand, all 700 coming could in the downtown core. we have a knack of business continuity plan to make sure we continue to service our customers through this potential unrest. >> we are looking right now at live pictures from the protest in bangkok. we are monitoring it closely. certainly those with investments in bangkok are monitoring it. committingn investor significant capital to this typically ahat is stable country, does this concern you, that the political instability at a moments notice can upset the balance? >> scotia bank operates around the world. we have a diverse asset mix. against anys safe particular political turmoil. specifically and thailand come if you study the economic road patterns against political turmoil, it is resilient to to these types of events. we are committed for the long term. >> will you be seeking to expand deposition in thailand? >> it is always good to have a significant market share for cost purposes. we are rapidly growing. the bank grows about 20% per annum. it is growing well organically. we are always interested in how we can grow it otherwise. >> acquisitions certainly must be an option. is that something you would seriously consider or is it organic wrote that absolutely tops your list of criteria? >> scotia bank has been active globally since the global financial crisis. if we see opportunities that make sense and fit our strategy, we certainly look at those. the next time i go to bangkok and an atm, i will think of you and scotia bank. rob reynolds, a pleasure to have you here. come back and see us again. you are seeing him first here on bloomberg. have asia's inflation rate. the latest consumer price index later this evening from india. that.look forward to this is "on the move. how -- "on the move." >> you are back with "on the move." her party winning a majority where many seats were not contested by deposition. at least 18 people were killed and dozens of polling stations set on fire on voting day. are burning out of control in western australia as the country races for searing temperatures. a heat wave began at the end of december and continues through much of the country, smashing records and being described as a highly significant event by the bureau of meteorology. northwestern australia is a in temperatures of 50 degrees on thursday. the indian diplomat in the center of [indiscernible] he was arrested last month, accused of the sub fraud and -- accused of visa fraud and paying her maid less than minimum wage. we have more pressure coming on to the reserve bank of india to raise interest rates. policy makers may hold off depending on the inflation numbers later today. what are we looking for? >> there is some good news coming. remember that the indian rupee had been pegged as [indiscernible] as long -- as well as some of its emerging market peers. investors has started pulling currenciesthe five to my trekking cues from the u.s. fed and the repurchase program late in december and early in january. what has happened now come and the current account deficit, about $5.2 billion at a three- year low. on the back of that, confidence seems to be returning into the repeat. -- into the rupee. global currencies have troubled anywhere from 1% to 7%. but the rupee has strengthened almost 11% against the dollar. so good news there for the rupee, a queue that everyone will be watching for the elections later this year. most analysts are saying that the rupee will only continue strengthening. there could be some shot down election -- some shut down pressure approaching the elections. >> thank you. santa claus has finally reached the iss, the international space station. with theme along arrival of a private enterprise caps on. -- enterprise capsule. a tad late. bad weather postponed the launch last month. better late than never. >> hello, everybody. the middle of the asian trading day. this is hong kong. you are watching "asia edge." the boldest step yet. demonstrators trying to shut the bangkok down. beginning their trading week. , the story linked behind. >> i am angie lau. markets across asia started the week with gains. among the leaders are gold miners. the metal at the highest. digging deep in indonesia. the winners and losers after they put more while materials under local control. we will get reaction from jakarta. >> i am zeb eckert. coming up, an exclusive chat. president of the euro group. we will update you on the europe. all of that and more on this addition of "asia edge." >> a good morning to all of you. a look at the markets. they are up high for the day. fairly mixed at this point. both what happened on the weekend and what is happening right now. the jobs numbers over in the u.s. on friday. that is pushing down the yields in the bond market and putting pressure which is driving up currencies across the

Related Keywords

Vietnam , Republic Of , New York , United States , Miami , Florida , Malaysia , Canada , Japan , Tokyo , Philippines , Australia , Dubai , Dubayy , United Arab Emirates , Shanghai , China , Beijing , California , Melbourne , Victoria , Indonesia , Toronto , Ontario , Washington , District Of Columbia , London , City Of , United Kingdom , India , Thailand , Sydney , New South Wales , Rio Tinto , Galicia , Spain , Bangkok , Krung Thep Mahanakhon , Montreal , Quebec , Hong Kong , South Korea , Jakarta , Jakarta Raya , Singapore , City Bank , Abu Z Aby , Australian , Canadian , Chinese , Aussie , Thai , Canadians , Spanish , Japanese , South Korean , Kevin Lynch , America Merrill Lynch , Serena Williams , Robert Clarke , Santa Claus , Mario Draghi , Angie Lau , Asia Pacific , Zeb Eckert , Neil Gregson , Ben Bernanke ,