Worth almost 4. 5 billion. Shares jumped the most in seven years. Singapore airshow, with the future of asian air travel and the cream of the aviation world in attendance, we are live at the airport. Let us know what you think about that top stories by following me on twitter. Dont forget to include trending business. Breaking news out of south korea, the central bank has kept its key Interest Rates on hold at a record low of 1. 5 . That is after cutting four times since 2014. Surveyed werests not expecting a cut, however in ars have been pricing rate cut very soon after japan adopted a negative Interest Rate, which kicks off today. Again, the central bank of korea keeping rates on hold at a record low of 1. 5 . Lets take a quick look at the korean trading. Down half a percent. The china and hong kong markets get underway in about 80 minutes. Singapore, taiwan and malaysia have just come online. Heres a look at what is happening so far. We werent expecting much of a change in terms of what we are getting out of the bank of korea. A bit of a reaction, a bit more extended in terms of the korean down half ang percent. We had gains of 3 10 of 1 yesterday. A bit of a reaction on the currency markets in korea to hold Interest Rates at its meeting. Elsewhere around the region, the but it up 7 10 of 1 , has been a volatile day. Asian equities struggling to carry through from yesterdays rally. The really strong today rally coming out of european equities, as well. We should be seeing stronger gains if you look at the comments coming out from the acb, mario draghi saying policymakers will not be hesitant to ask if Global Markets continued to deteriorate. Similar from the bank of japan. Also, general sentiment that the selloff has been overdone. Instead, we see a very much mixed picture. Own by. 5 gains when it comes to the minors, but gold miners are leading the decline, down under. New zealand, up 3 10 of 1 . Taiwan up. Numbers later this afternoon are expected to show contraction in exports and imports. Southeast asia coming online at a bit of a mixed picture. It is about japan. Japanese market had the biggest rally in more than seven years yesterday. Today, giving back some of those gains. The nikkei down by 0. 1 . Lets talk about volatility. Topics is now the at the highest since march 2011. When we had the earthquake. We are seeing volatility really, worse now than the markets in china, greece, argentina. Pretty Extraordinary Company to be in in terms of the volatility index. That measure has swung more than 3 today over the past five sessions. Two sessions where they have assed down by more than 5 well in terms of the declines. The nikkei volatility is trending up. Up by almost 64 . In terms of valuations, topics down 23 on the year. We are trading up. The valuations going back to the start of shinzo abes administration. Like going back in time. We will have to see how that volatile day plays out for the rest of the session. Some of the top movers, we are seeing a bit of movement in the energy space. Seeingners down under. Osses to the tune of 2. 6 some of the minors in oil related Energy Companies are doing quite well. Expectations that they will get something out of this meeting between russia and saudi arabia. Shery we will continue talking about possible meetings between with oil trading near 30 per barrel. Erin clark joins us now from tokyo. We are now hearing of this possible meeting between saudi arabia and russia. What do we expect out of this . Arabias oil minister and his russian counterpart will meet today. Speculation, of course, they would talk about supply cuts and ways to boost prices. Both these countries have been skeptical in the past about supply cuts. Saudi arabia has said they will not agree to any supply cuts unless there is a grand bargain between opec and nonopec countries. Russia said last week, they would defend market share. There is skepticism that anything would emerge from this. At least, in terms of a grand bargain to cut supplies. At the same time, there is a renewed pressure on producers to do something, to take some action, although oil is rallying it is still trading at 30 per barrel. Supplye not seen the reaction that many people expected, although oil rigs drilling in the u. S. Have declined significant over significantly over the past few weeks, production is only down for5 . Bp expects the first half of this year to be choppy and the surplus is about one million of productiony above consumption. There is a large overhang and little response in terms of the cutback from producers. Pressure is weighing down on big suppliers even more, particularly saudi arabia and russia as well as the smaller producers. They are looking for any boost they can get to the price. Shery thanks for that. Clark in tokyo. We will take a more detailed look later. We want your opinion. Please tweet us your thoughts sheryahnnews. Softbank is surging today after saying it is ready to shore up its share price and spend a record amount buying back stock. Pavel joins us now from tokyo. Almost 4. 5e worth billion. How does that compare with their own past purchases, and with others . Pavel at ¥500 billion, this is one of the biggest buybacks in the market, for sure. It will be worth about 14 of softbanks outstanding shares. It is the record acquisition by the company. It compares to a buyback earlier this month. For loan separate, softbank shareholders, this could not have come sooner. The shares have been hammered this year, falling 28 because of the concerns of various performances for companies shareholdings. Forcompanies outlooks earnings have not been reflected in the share price. A to be seen whether the rally will survive. It will not borrow more money to pay for the buybacks. It is reliant on asset sales as well as its own cash reserves to pay back or the shares. Shery thanks for joining us. Look at some of the other stories we are watching this morning. Here is julia, taking look at a potential megadeal in the electronics sector. Good morning. We are watching shares on the open in taipei. No clarity on reports that it is to acquire sharp. 0. 8 . Ke up by in tokyo, sharp shares look like this after rising more than 7 yesterday. Pretty unchanged today. The nikkei news reports shares are not they are not supposed deal. Ch a analysts have issued a note saying investors should stay on the sidelines until there is more details about a potential deal, saying any acquisition could dilute earnings for this year and also next. Die what has reduced they have cut their price tag at 277 taiwanese dollars over the past 12 months. Shares are rising today in tokyo. Reports that the president may be replaced in june when the Company Holds its shareholder meeting. Up by almost 5 there. Reports toshiba may bailout of computer production and sell its chinese plant. Toshiba is in talks with Chinese Companies to sell its plant in china. Says it isinoff close to a deal to merge with the computer units of toshiba and fuji two. It is understood to shiva products would be produced at a different plant. The timing could delay the merger. Toshiba shares hit hard over the past 12 months in the wake of its accounting scandal. Aslowdown in china has seen soaring number of bad loans. Nonperforming loans at chinese commercial banks are now at 2006, not seen since june up 51 to 196 billion. The nations lenders bad loan ratio has climbed. The industry bad loan coverage ratio, its ability to absorb potential losses from bad credit, has weakened to 181 from more than 200 one year earlier. Hedge fund manager claims chinese Banking Systems may see losses of more than four times those suffered by u. S. Lending lenders during the crisis. That claim has been disputed by analysts, including China International cap capital corp. Shery on our website, we are looking at the Investment Strategy of the worlds biggest pension fund. That is a bloomberg. Com asia. Check it out. Coming up, later in the show, we speak to a veteran china watcher who says, dont read too much into turmoil on the markets following the return from the Lunar New Year holiday. Just ahead, we are live from the singapore airshow, where a ceo tells us about the trends in the indian and middle eastern markets. Shery it is day one of the singapore airshow, and our coverage includes more big names from the aviation world. Our Southeast Asia correspondent is at the haslinda airport. It is a hot, hot day at the singapore airshow. What is also hot are the budget carriers. They occupied over 50 of the market in asia. That is costing a lot of competition and one carrier that is not being affected by ceo joins us, the this morning. Good to have you. Congratulations on making it to profitability. The question is, is it sustainable . Yes. Yes. We have established ourselves. We had good root material. The future is looking good. Haslinda how far away into the future . How much clarity do you have . The next 12 months, the next few years . What is the plan you have . The foundation has been set. We have an efficient aircraft and a balanced network geographically. Unit cost is among the lowest in the industry. It is declined 11 year on year. I think the foundation is solid. Haslinda you talk about the dreamliner. We have one just behind you. Your fleet consists of the dreamliner. You says you said that is a game changer. It has lowered costs by 20 in terms of fuel consumption. It is a better passenger experience. The wind is, the air pressure. We have added attributes such as internet connections. From the customer experience, it is an improvement from an economic experience as an airline, it has been an improvement. Overall, a good addition. Reason tois there a acquire more planes . We have 10. We have 10 more on order. It is too early to make a decision on fleet acquisition. Haslinda your expanding into india. There are concerns, because you are awaiting approval to fly in their airspace. We fly to asian city is cities. Saudi arabia starts in may. In india, the first half of this year. Indian regulatory process is a long one. We are assured of a conclusion, and it is imminent. We will in the next couple weeks. Have beenthere complaints about high costs. Why do you think you will be profitable in india . Mastech is a different game. There are higher taxes. Internationally, it is a competitive route, but it is a population with potential. We think, by adding new roots to the singapore hub, we can make a go of it. Haslinda what it makes sense to have a joint venture in india . At this juncture, no. Distribution is something we are looking at, and Partnership May be a reason to get that or a way to get that. But a joint venture, no. Ipo, or before you before you decide, you need to be profitable. Now that you are, what happens to your plans . That was speculation we are owned by singapore airlines. We are owned for strategic reasons. We are delivering in the reasons we were set up for. Would have to ask our shelter shareholders. Haslinda you see a possibility anytime soon . What challenge could you face . Observed the capacity increase. 49 increase year on year. That brings a challenge in establishing in new markets and building profile, building yields. But it is investment in the future. The foundation is strong. We will make the capacity work in times to come. We will be better for it. Scoot. A the ceo of behind me, you can see, when you take a look around, a display of commercials, avionics. We will be here for the next two days and will keep you posted. Lookinge will be forward to that. There is plenty more to come from the singapore airshow. In one hour, we hear from the head of sales of bombardier. A little later, we speak to his counterpart from gulfstream. Stay with us for that. Headliness making around the world, at least seven people were killed and Dozens Injured in a missile attack on a Childrens Hospital in syria. Five patients, a caretaker and a guide died. Several Staff Members and other patients are missing. There is no word on who carried out the attack, but russian warplanes have been blamed. The u. N. Says raids across syria killed 50 on monday. Saudi arabia has indicated it may send Ground Troops to syria and has already deployed warplanes there. It is hosting what is called the largest and most important military exercises in the region. 20 nations are taking part in air, sea, and land attacks, which are expected to last 18 days. They are attacking shia rebels in yemen. Prodemocracy groups have demonstrated outside the venue of the firstever talks in the u. S. 1960s andded in the is the center of americas several leaders did not come to power in fair and free elections. Only indonesia and the philippines are regarded as open democracies. A number of groups have little time left in office, including president obama himself. Over 2400 journalists around the world, this is bloomberg news. Shery still to come on trending business, bargainhunting time. In a moment, we look at how chinese stocks in hong kong are the cheapest in 15 years. Shery welcome back. You are watching trending ahead to theoking Chinese Markets that open in a few minutes. Chinese shares lifted in hong kong have all in close to 20 so far this year. Emerging markets veteran mark mobius says, that means huge bargains. David has been digging through the wreckage for the best deal. David, what should we be buying . David im afraid to look deeper. Shares indexhina when your charge, that is the price level. 47 drop from may of last year. From the start of this year, down 1819 . Factoring in the gains we are seeing at the moment. That said, it is important to take note, this is where an ex would be when all of it what all but one of its constituents are down for the year. Also worth noting, this actually tends to have a risk premium built into it. Lifting the bottom panel of my chart to show you, this is the rsi, relative strength index. To show you, can we focus on this bit . That is the story for january. Trading in oversold terrain for this index. Lets have a look at valuations. There are several ways to look at this. Usinger to look at it price to book. Looking at price to earnings, it takes us all the back to 2001. Price to book is a bit more oldfashioned. It gives you a better idea of what the salvage value would be coming his aliens, and ravage the earths economy. Here is my alert for the shanghai composite. Current price earnings at about. 8. The fiveyear moving average comedy show you the difference, and the gap between the two is weually a long, the highest have ever seen. E are at a ratio of two times going all the way back to 2011, this is a similar amount. To look at this gap between. 8 and 1. 56, just for your off 1. 5e, price to book times, that is the fiveyear average. At the moment, s p 500 is a 2. 5 times shanghai composite, one of the worst performing indices, 1. 6. Nikkei, one point five. Using this measure, it is really, really cheap in hong kong. Cheap for a reason. Let me wrap things up with individual names. Not mr. Mobius did not come out with that. But the cheapest of the cheapest, pricetobook, lowest, and there we go. There is a list of names. David. Thanks, coming up next, more volatile than china, greece, or argentina. What is going on with japanese stocks . We investigate, when trending business returns. We live in a pick and choose world. Choose, choose, choose. But at bedtime. Why settle for this . Enter sleep number and the ultimate sleep number event, going on now. Sleepiq technology tells you how well you slept and what adjustments you can make. You like the bed soft. Hes more hardcore. So your sleep goes from good to great to wow only at a sleep number store, right now save 50 on the ultimate limited edition bed, plus 24month financing. Hurry, ends monday. Know better sleep with sleep number. Shery the top stories trending this hour, asian stocks are lunch awaiting after monday brought tokyos brigade biggest gain in seven years. Japanese equities are more volatile than those in china, greece, and argentina. Markets in hong kong and shanghai are set to open higher. Earlier, european stocks jumped almost 3 , helped by eatery mario draghi saying he is ready to act if turmoil to that threatens stability. A record 4. 5 billion buying back 15 of stock. Softbank says it will not resort to more loans. Instead, it will use cash and asset sales to make up the total shares. They are still down 18 this year. 30 inmaking gains above new york, with saudi arabia and russia set to me today. Sources say venezuela may join the talks. Wti rose to an eightmonth high yearte stocks hitting a 90 high. Traders shrugged off concerns that irans return to the market would add to the glut. Haidi is monitoring the opening. We saw downward pressure yesterday. How is today looking . Haidi we are seeing a turnaround in markets. In the Late Afternoon session yesterday, we saw mainland stocks coming off the worst of the day pass lows. Down by about 2 at yesterdays open. Today, at the open, shanghai up. Ike. 6 building on yesterdays gains. We had a stellar relief rally for all of asia, the asiapacific up by 4. 1 , the biggest rally we have seen since last september. We are giving some of that back, particularly when it comes to these markets like the sx sydney, stocks down by. 4 . Big iron ore miners gaining, but the losses are being tracked by risk of miners as the sentiment starts to pull back a little bit. Gold prices starting to come down after the last couple weeks of gains. Also around the region, the nikkei has actually jumped, turned green by. 1 . The biggest rally in more than seven years for japanese stocks on monday, after shedding close to 12 . Volatility on the Japanese Equities markets is now more severe than china, argentina, even the Greek Stock Market at this point. Taiwan extending gains, up by. 9 ahead of trade data coming out a little bit later. I want to check in on the yen, because this is what is bleeding into the volatility we are seeing in the japanese market. Seeing the flatten out a little bit. Sitting at the same levels as yesterday, little bit stronger. That is weighing on equities. Japanese stocks are swinging between gains and losses on morning. Currently, back in positive territory, but that is after mondays huge jump. All of this, coming while the bojs negative Interest Rates kick off today. We have been tracking this. What is going on . Most,an was one of the one of the hardest hit developed countries this year. We saw the nikkei and the topics down 20 this year. A lot of people are sayi