Monday morning . A good morning to you. We are seeing shares falling across the asia pacific. Check out the figures here. You see the regional benchmark right now. Modest gain here. But if you look at the individual stock story, it is generally a down day. Shares modestly lower in tokyo today as shares get under way. This is what we have. Higher by 4 10. The taiwan Index Trading lower. Lets go with singapore right now because we do have the latest g. D. P. Figure. Those numbers coming in perhaps slightly slowing in terms of economic growth. We did see the Monetary Authority there maintaining its current stamps in terms of the Singapore Dollar. Watching that today. Here are early movers. Among those, hong kong up 1. 6 . In the downside category. Noble group 4 10 of 1 . Thats the publisher of course of the straight times newspaper. Now, as shares continue to trade in tokyo today we are watching the yen. Been a lot of action on the currency front. These are the movers in tokyo. Your downside movers sharp nearly 10 drop there for the stock. Reports of a possible Capital Raising plan sending that stock lower. Nipen active. But one of the key auto makers, thats a stock you want to watch. Well be watching japan and comments out of the euro zone. Thats having an impact on the yen. Well continue to watch that as stock trading and the currency markets get under way this monday across the asia pacific. Now, the euro is moving this morning. Joining me now with more on the latest warning on the currency. A bit of a warning obviously but again certainly about negative Interest Rates. The euros appreciation is making it difficult for the ecb to target their inflation rate. Of march, at 0. 5 not a situation they want to be in. In those comments you were talking about he talked about how his options are limited as he has very few choices. The strengthening of the Exchange Rate would require to make our Monetary Policy stance to remain accommodative would require further Monetary Policy accommodation. So the strengthening of the Exchange Rate requires further monetary stimulus. So heres a take away from what he just said. Number one you could see an Interest Rate cut, and the path which the u. S. Took quantitative easing. Thats what you have to keep in mind. That could put the economy on a very interesting path, what you alluded to earlier, going into a negative Interest Rate territory, going below zero. The message is clear. That by holding euros you are holding something that is not attractive because youre not going to be making the same amount of cash. Now his comments come as the imf lets not forget washington you could include into this, is putting a lot of pressure on the ecb to really get a handle on this low inflation. The reason they care about that, a lower inflation is because of the euros strength which makes g ports from outside the euro zone cheaper. So if something is cheaper you could see why you favor going down that path. So thats something that the ecb does not want. So you could see negative i want rest rates. Negative deposit rate is the crucial one. Theres no upside so you want to lend it out. So thats probably the s and es. So that negative deposit rate could happen. With the goal of course that would ultimately stimulate the economy. You cant get it done, then, nowhere do we have a sense of time period for how long they would let this negative Interest Rate environment go or how long theyre willing to be. Then you could see the quantitative easing roll into play. But thats a twopart scenario. With the first being the negative Interest Rate. Thanks a lot. Now lets check some other stories. The owner of the worlds biggest futures market is being sued in chicago. The plaintiff claiming cne group sold information about orders to High Frequency traders. Cme says the suit is without merit it only offers one data feed with prices and all investors get it the same time. As ny recalling laptops they look at reviving the company through restructuring. Pepco is said to have found a pump. Sending radioactive water the wrong way. They say theyre checking whether there are any leaks at all outside the water system. s been six months since sites were set on the company. Things have just turned around in the short sellers favors. How they benefited. The shares plunged 20 on friday. And thats a huge plunge. That is after its last result. The results came out disappointing investors coming out at 22 cents per share. The shares are now down 44 since october, which is where they released his support ying basically the company misrepresented cash and exaggerated sales. Reported, least 72 is fictitious. Those are all allegations made against them making investors somewhat uneasy. Now they have been working really hard since then to try to get its share price back up. And it has been rising quite successfully. Not up to the highs that it reached last year but doing quite well. This Earnings Report making investors a little bit skittish not least because there was actedly an accounting error revealed. It revealed unauditting financial results. Lerical errors theyre saying. Overstated by nearly 370,000. Then of course guess what the shares are down. But not all companies will collapse because of muddy waters allegations. One company accused by muddy waters. But since then the company has done quite well. Theyve fought back really hard. Last month a unit offered to buy it. Thank you very much. Clearly you have a lot of red flags there. Thanks for that on that story. Russia and the u. S. Have accused each other of fomenting unrest in ukraine. The Security Council met. These are live pictures from new york right now. The raurgs Ambassador Says the west and kiev are behind the instability and the situation is most combustible ever. He ambassador u. S. Says only russia has the power to create such a situation. The meeting was called by russia after kiev sent troops to separatist parts of eastern ukraine. The search for the missing airline has become even more difficult with the grudging acceptians the black box bat rizz have probably run out of power. Nothing has yet been heard since last tuesday. Deemed s were found consistent. Theyre unable to find the accurate area. It sounds as though the battery life has come to an end. It is certified for 30 days were now into day 36. Its not likely its going to last much more. So the fact that we havent heard anything for two or three days, three or four days, indicate its possibly past its life. Water supplies to more than 2 Million People northwest in china have been contaminated by two separate accidents. Investigators say oil leaked from the pipeline fouling the water source. Fren the tests showed ben 79 levels are 20 times higher than approved safety levels. 250 mill mitters of rain fell in just 10 hours in places as the storm moved inland. There are no reports of deaths or injury but many homes and businesses were badly damaged. It made landfall on friday. The strongest to hit queensland since 2011. Up next, chinas economy set to slow down in the First Quarter. Figures out on wednesday. When we can look forward to that. Can beijing control record levels of debt . Details after the break. Welcome back. It is monday april 14th and youre watching bloomberg trn v. China reports First Quarter figures this week and were expecting a slowdown. Ahead of Global Markets research for asia has joined us now from sing por. Very good morning to you. Lets talk china, wednesday, and what your forecasts are. The government saying about 7. 45 for the year. That has caused a little bit of a rumble. Weve seen the mindset that were likely to get a drift down towards 7 giving them the leeway of saying about 7. 5 over the course of the current plenum. But 7. 2 is what were looking for on wednesday. What we think is likely to follow from that assuming that retail sales and ip sort of on the soft side as well. What sort of next round of stimulus might be looking for with a Holiday Weekend coming up in the north atlantic an ideal time for maybe a change in the rrr on friday. From the pboc. So keep your eyes alert for Something Like that. How effective is that if it were to change . At the moment probably relatively effective in that they can change the rrr selectively across different industries. A blanket change might not be seen as effective as pin pointing changes or easing in the amounts of reserves that have to be held for specific industries. But it can be pretty effective. And it would add to changes theyve had in the reapo policy of late. So i dont think its a blunt tool. They can use it selectively to give it a bit more edge. Retale sales production week ave exports last disappointing. And also again inflation. All these figures point to the wrong direction. Dont they . Theyre all suggesting that the policies that weve had over the last 12 months are actually having an impact. Theyve been trying to change the growth trajectory. Now they need to stop it ecoming a sustained slowing of growth and sustained the profile thats needed for the programs. So they have to step up on the other side now. Its part of what they do or need to do within a still heavily controlled economy. So we should be watching for this coming through over the next couple of weeks. A surprise change in pboc policy. Lets go to singapore. Exports calling ten months, 12 months. Obviously thats a bit of a blow. You have this in the last one this morning coming out again. D. P. Below estimates. Maintaining that modest and gradual appreciation. How do you interpret also the cut in inflation forecast . Right. Firstly i take my hat off to anyone forecasting singapore data. Its so incredibly volatile in a month by month basis. This quarter is jernlly a soft quarter. But it was soft. It wasnt massively so. I think we should probably push that aside and focus on what they were saying on inflation. Theyve reduced the headline inflations profile. But the core inflation is staying pretty much in place, 2 , 3 . But they wanted to stop volatility or curb volatility in the currency. So what we think theyre likely do is maintain the currency band close or the currency index close to the center of its band. So probably more intervention keeping the currency pretty steady is how we would see it. So not wanting to create any financial tightening from a stronger dollar. Looking at the research they have. It almost sounds frustration in your voice. Fourth year in a row, low rates, do they sort of say when is it going to change . But you have no idea. Have you been listening in . Youve been hacking into my client calls. Its very much the case. Weve been looking for this selfsustaining recovery in the developed economies laid by the u. S. After the crisis and its coming so slowly. Its not giving us the necessary final demanned pull that were looking for for this region. We were looking for a slowing in growth trajectories in china export pull y an into the u. S. Specifically. And thats just not coming in the way we were looking. But we still think its going to come. We still think that maybe the middle of this Second Quarter were going to get the surprise index for u. S. Data starting to take up. Its been pretty soft over the First Quarter. So that would be something we would be watching for to start signaling a possible export pickup. Thank you. Have a great weekend ahead of you. Thank you. Now, still to come, headlines were going to check in on the euro after the ecb warned about the currency strength. Could there be negative rates on the horizon . After the break well find out. In hong kong its monday april 14th and these are your headlines. The ecb has delivered its strongest warning yet on the rising euro. The president says any further appreciation would trigger more stimulus measures. A rising Exchange Rate threatens its ability to deliver inflation around 2 . His comments come after the euros rise of more than 6 against the dollar in the past year. The Singapore Dollar is lower after the Monetary Authority decided to stick with its policy stance. That includes gradual appreciation of the dollar, policy then all 23 analysts we surveyed predicted they would keep the modest and gradual appreciation language. The Philippines Central Bank governor said record low Interest Rate levels are not sacred. They say price pressures appear o be easing but pressure consists. Lets take a check now of how the currencies are performing. This is what were seeing. Looking like this around 44. 39 levels to the u. S. Dollar. Singapore they reported First Quarter g. D. P. Numbers today. You see the Singapore Dollar at 125. 18 modest weakness there and the euro. This is the level we see on the single currency as the comments continue to impact markets. That is a check of the top stories driving the market this monday morning. When they saw that pace looking at some of the highest paid executives right now. I think were in the wrong industry because if you want to make money youve got to be the ceo of a big u. S. Company according to the latest Research New York times looked at the 100 of the largest publicly traded companies by revenue. And that has filed their proxy as april 14 and this is what they found. No surprise. Larry ellison again highest paid ceo in the United States million bob 78. 4 iger followed and rupert murdock. If you take a look at the top rounding out that top five. Do all ceos in the United States get paid this high . And the answer is no. In fact, according to the New York Times article and they e sourcing equal the average makes 14 million. Still not a bad sum. Also, they tend to be breaking down how does that break down . For Media Companies in the 500, less right there, cbs of 6. 9 million. Viecome 37. 2 and bob iger 34. 3 million. And just to clarify, cbs was not part of the New York Times study. Again that was not part of the 100 of the largest publicly traded companies by revenue. Youre looking at the top guy right there and one could say the reason he made so much money is because his network is the most watched tv network in the United States, his pay rising 7. 7 . We want to show you also how well that stock has done if you take a look at the companys stock compared to the the s and p 500. You can see that up from 30 . And that stock was up 68 . You know thats very impressive compared to the 30 gain you saw last year. Exclusive interview with investor guy hans saying china is changing the way deals are made. And the hong kong gets under way. Well have opening prices when on the move returns. At the sharp end. Taking a hit in tokyo. Going to global. China is changing the way. Australians are told they have to work harder for longer. Hard. Working very 4000 lastl below week. Works all day. Of what iske a look happening across the asiapacific. We are seeing a downside for the most part. Japan is changing course. It is up by 0. 1 . Given the move in the japanese yen. The hang seng show starting lower. The shares are down by 0. 1 . We will be watching as some of the key stock movers this week, banks in a focus. Will be watching it sure we will be watching insurers. Expanding intong linkages as well. That in thenote identified companies that will specifically benefit from this particularly Hong Kong Exchanges which is a major mover up 12 . Today, it is not want the top movers, but here it is. On the downside, watch sino. One of the stocks that will thefit from the linkage is insurance company. It sort. Today, modest moves on the downside. A look of where it is in terms of the last two sessions we had here. The stock, it looks like you just opened. It is advancing. On friday, inside a game. Well continue to watch that one. On friday, we saw a gain. The yen. We follow we have toyota. Automakers as we watch the japanese market. That is the latest. Un security off the Council Meeting of right now. U. S. And russia have accused each other of the unrest in ukraine. To the u. S. Asoy he addresses council. Guys there will be the use of armed force in hostility in the ukraine. We will not sign off on the meeting. Going to behat is fundamentally undermined if military operations comments in ukraine. Refrain froms speculation or searching for tosons into why russia is what it does. Lets focus our attention on what we can actually do in this case. I am looking here at my western colleagues. Let us ensure that we do not allow reckless operations of the ukrainian of 40s that right now authorities that right now are in is a criminal and let us stop that from being implemented. That is going to have extremely significant consequences for the people of the ukraine. That needs to be avoided. In defense ofnvoy their actions in ukraine. Australias treasurer is over warning that they will have to share the pain. The warning a month before he comes with a budget. His first budget in fact. If the government in canada ready is the government getting ready . [indiscernible] well, lets put it this way. Retiret to be able to your ever. Especially when you consider the latest comments from the treasurer who said in the rise in ages under consideration. That is a direct backtracked under a Campaign Promise made by thatabbott before he won pensions would not be touched. Hockey made a compelling point. He said those in my generation will have to work next or three years. 85 plus will quadruple in the same appeal of time and the cost of the pension is rising 11 . Added a decade, is expected to top 60 billion. To fix the way problem is twoputting to raise