Now on bbc news all the latest Business News live from singapore. Asian Stock Markets sell off from wall street. Why investors in the us and asia are worried. A big push out of china, how long will it take for alibaba to succeed in the american marketplace . Good morning, asia. Hello, world. Thank you forjoining us hello, world. Thank you forjoining us that this thursday edition. We start off with the markets. As you can see right now, the Nick A Kicking off the first day trading session down by 1. 4 . 270 points, Tracking Falls on wall street overnight on worries about washington. We also have the all Ordinaries Index giving back 1. 2 in early trade. Us shares extending losses following reports of a memo byjames losses following reports of a memo by james comey suggesting that President Trump had tried to interfere with a federal investigation. That has made the us investors depressed. Down by 1. 8 overnight and the nasdaq losing a hefty 2. 6 . That leads to concerns that political turmoil could get in the way of the business friendly policies of the president , such as the much anticipated tax cuts and infrastructure spending. For more we re infrastructure spending. For more werejoined in our studio. Infrastructure spending. For more werejoined in ourstudio. Karishma, all of these controversies from donald trump, they are depressing the sentiment of investors . Absolutely. You dont even need to watch House Of Cards any longer, just turn on the news every morning. In all seriousness, look at the way it that stocks and shares in asia have reacted to the usa. Earlier on, the Japanese Stock Exchange was down and that is despite the fact that Economic Growth figures out ofjapan coming out today were better than expected, up by about. 5 . Quarter on quarter they continue to show strong growth. Investors are struck off the good news instead taking their cue from wall street. A lot of this is, of course, because of the rush to save face and like the japanese yen. Overnight we saw the japanese yen. Overnight we saw the japanese yen. Overnight we saw the japanese yen strengthening as a result of the anxiety among investors. That is typically what happens. As a result, the big Exporter Stocks in japan on happens. As a result, the big Exporter Stocks injapan on the nikkei, tended appreciate because there earnings are affected by a stronger yen. Overall this is current Political Sentiment in the us which affects and makes asian markets nervous. This negative mood, is it all about the Trump Controversy is it all about the trump c0 ntrove isy was is it all about the Trump Controversy was to mark how about european politics and the north korea issue and us earnings . Does that play into the picture still . The main focus right now is very much what is happening in washington. In a sense, asia can ta ke washington. In a sense, asia can take some heart from that because at some point, investors here are going to say hold on, our economic fundamentals are still strong and they are still company proffered earnings reporting solid results. The ongoing political situation in the us does not appear to have any end in sight but while that trundles on, asia will start looking to the other big partner, the neighbour, the giant in the neighbourhood, and thatis the giant in the neighbourhood, and that is china. I expect to see more deals in our relationship growing in the days and months to come. Thank you grew much for that update on the asian market story. Moving out Corporate News and alibaba, the E Commerce Giant from china will be reporting today. A key part of its strategy is connecting the Huge Consumer market in china with us entrepreneurs. It is something that jack marx spoke about with the us president is we report from new york. Jack ma. President is we report from new york. Jack ma. He is president is we report from new york. Jack ma. He is a president is we report from new york. Jack ma. He is a great entrepreneur and he loves china. For President Trump, the best way for jack ma to show is lots of this country is to make it easier for americans to their goods to china. This Sneak A Shot In Manhattan is an example of just that. This Sneak A Shot In Manhattan is an example ofjust that. Stadium goods has a physical store but 90 of its business is done online. Since august, they had been selling on alibaba august, they had been selling on aliba ba and it august, they had been selling on alibaba and it has been a big boost to their sneaker empire. We do over 100 million this year and it is about 20 of our business. They run about 20 of our business. They run a start up which has refreshing. We can channel partnerships with other large marketplaces. We deal with. They treat us like we are trusted, you know, Multibillion Dollar company. The leader of chinas biggest E Commerce Retailer has big ambitions. He wants to bring 1 million american businesses to china and 2 billion customers in the next decade. They have been talking about making a Big Push Outside Of China for the last few years. Since they became a public company, really, and perhaps even prior to that when they filed to come public a number of yea rs filed to come public a number of years ago at this point. When you look at their revenue base, it is almost entirely contributed by china. So they may very well have aspirations and they may very well talk about that but the numbers suggest there is a lot of work to be done on that front. Mr ma is not afraid of hard work. He will be in the us next month to make his pitch directly to us businesses. Itjust may be an uphill battle. Some of the biggest Defence Contractors in singapore this week that the Maritime Defence exhibition and conference. Is taking place against a backdrop of heightened uncertainty about regional security. My colleague was at the event and she met with an italian contractor. This is the kind of Patrol Vessel on sale here. This goes at 55 knots it has antiship missiles as will on the back and it is built by an italian manufacturer that is also known from their luxury yachts. I am speaking tojuliano. Their luxury yachts. I am speaking to juliano. Who are their luxury yachts. I am speaking tojuliano. Who are you selling these crafts to . All the countries of this region are facing an increasing threat from very aggressive attacks to their economies, their people and their safety a nd economies, their people and their safety and our boats are specifically designed for this purpose. And you are finding that there are more people purchasing from this region because there are concerns around South China Sea and disputed territories . Well, the disputed territories . Well, the disputed territories . Well, the disputed territories of course is a subject and i think that all of these countries are facing more direct economic issues, direct threats because they believe that there economy has to be defended from illegal traffic. And that is what our boats are built for. And who are you selling specifically to . Which countries have shown interest . The countries are singapore where the exhibition takes place. Thailand, the philippines, indonesia, malaysia, all these countries have the same issues and all these countries are showing a lot of interest in our product. That was the Maritime Defence exhibition in singapore. Chinese online giant 10 cents has defeated expectations with a 15 jump 10 cents has defeated expectations with a 15 jump in its quarter profitability thanks to strong growth in gaming and digital payments. The Company Looks set to expand its Digital Music services. It has signed a deal with Universal Music for exclusive rights to its catalogue in china. Will the deal merely be popular instead of profitable . So here i am, like so many people in this city, grooving through my daily existence, Listening To Music available via phone. All completely free. Now im not talking about piracy. In china, Technology Do Giants Operate Platforms which offer a huge amount of music, All Com Pletely a huge amount of music, all completely free. So why would i pay for it . Well, little by little, 10 cents is trying to win its customers wean its customers off free music. The extent to which it is ultimately successful in this endeavour is going to be crucial for Universal Music which has just signed on with the company to have its product delivered by their platforms in china. To get on Board Asa Platforms in china. To get on board as a paying customer is not what of money. Only a couple of dollars a month. But our people willing to pa rt month. But our people willing to part with our hard earned cash for better access to music . Universal signed this deal with tencent knowing that it has 15 million subscribers. More significantly, it also knows that tencent has hundreds of millions of active users each Month Waiting to become paying customers. Dance into the music there. Thank you for investing your time with us. You are watching bbc news. Our top stories sour, a special has been appointed to investigate alleged russian interference in the us election. And an Islamic Court has ordered two men to be given strokes of the cane in public for having gay sex. In the run up to the uk General Election we have been asking you about the subjects that matter to you. The impact of Brexit On Agriculture is a big Talking Point amongst farming communities. We have been to a farm near cardiff to find out more. My my Heart And Soul is in the sheds and these cows. It is part of who we am. My name is abby and i am a Dairy Farmerfrom am. My name is abby and i am a dairy farmer from south wales. What are the big issues for you in the run up to this election . Trade, labour and investment within agriculture. Brexit will have a huge impact. The Single Market is extremely valuable to us. We need appropriate trade deals in that will allow our goods to move weekly and easily. We produce milk and meat and crops here. They are all perishable and they need to move. We cannot hold onto them. When they are ready to go they must go so we can not have delays on borders, we cannot have ta riffs delays on borders, we cannot have tariffs stopping anything from being sold on a shelf because it willjust go to waste. One of the key concerns will be thinking about sourcing labour, to do various jobs on the farm. Agriculture uses a lot of labour from within the eu. Farm. Agriculture uses a lot of labourfrom within the eu. At farm. Agriculture uses a lot of labour from within the eu. At the moment in farming we use around 250,000 people from within europe. Abby is also worried about losing eu subsidies. Last year, farmers in the uk received over £2. 5 billion from europe. The conservative party had guaranteed subsidies until 2020. Is that enough for farmers . No. Probably the best example i can give you want that are these calves. I had a calf born yesterday. In two yea rs had a calf born yesterday. In two years time she will come into my herd ready to milk and in that amount of time she will have cost me 1800 to £2000 to raise. We are rorty thinking beyond 2020 just for these youngsters before i will start to turn a profit for them. That is how long term we are looking. Turn a profit for them. That is how longterm we are looking. This General Election will determine who will steer the course for brexit and abby once Agriculture High up on the political agenda. We are massive pa rt political agenda. We are massive part of the economy. And i hope that politicians realise how important we are. Iwant politicians realise how important we are. I want to hearfrom them politicians realise how important we are. I want to hear from them that they are going to champion agriculture. I want to hear that they care about this industry. Farming isjust so they care about this industry. Farming is just so linked to what people do and i want to see politicians noticed that and say we will stand up or you. That is all from me. Now it is time for sport today. Hello, this is sport today live from the bbc sport centre. Coming up on this programme real madrid move to within a point of claiming the Spanish League title as Cristiano Ronaldo scores twice. Juventus make it a third successive coppa italia as they remain on course for an historic treble. World number one Angelique Kerber crashes out of the italian open in the second round hello and welcome to the programme where we start with the news that real madrid are within touching distance of a first Spanish League title since 2012, after a 4 1 victory at celta vigo on wednesday. Zinedine zidanes side need just a point away to malaga on sunday. It was their talisman Cristiano Ronaldo who was again at the centre of it all with goals in either half that were added to by Karim Benzema and toni kroos late on meaning anything but defeat
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