Malaysia tries to draw a line under it struggling state bank fund. The lapses laid at the feet of the former chief executive. Do let us know what you think. Follow me rishaadtv, include trendingbusiness. China markets getting underway and 30 minutes. Juliette good morning. We are seeing weakness coming through from u. S. Markets. Taiwan, singapore, joining in that selling across the region. The nikkei 225 down 1. 4 . Towardshas searched that intervention trigger. Japanese stocks extending falls, deepening a second weekly loss. The big selloff in commodities playing into the asx 200, down over 1 . Korea being sold off, nine tens of 1 . U. S. Stocks sank to sixweek lows yesterday. We saw banking stocks coming under pressure after comments by janet yellen. Basic materials leading the region lower, down by 1. 2 at the moment. ,ome of the big movers particularly in japan. Honda recalled 143,000 vehicles byjapan, and airbags made daicel failed to deploy. Fast retailing down almost 10 after it cut its outlook to a fiveyear low. Evolution mining, a safe player for gold players looking solid. A quick check on the yen, weakening at the moment after briefly surging through the 108 level in new york. Well, absolutely, the yen is easing slightly after but strength is sparking questions about when Japan Central Bank may intervene. Finance from the ministers, didnt we . Rosalind we did. The finance minister spoke this morning after a meeting. Stability. Y want abrupt movements are undesirable, and recent movements have been onesided. They will take action as needed. We have no idea what that means yet. The yen has risen 11 this year. Spoke to the top forecaster for the yen, and he said it the rebound in Global Equity markets take place, we could see the yen strengthened past 105 to the dollar. Close, Risk Appetite falls, and that is boosting the yen and contribute ing is faltering confidence in the boj. Of 105 could trigger intervention, but questions are raised as to whether that will be successful. Other see 105 as a possible line in the sand. We have had these trade balance figures earlier, the strength of the yen could play into these as well. Thats right, better than expected, a surplus, better than the estimate. The 20th month of current accounts surpluses. For es were a rapid fall in oil prices has been contributing to an impacting import costs. It masks the issue with weak exports. Companies selling abroad and repatriating cash back to japan. The current account is the broadest measure of trade flows. In the final quarter of last year, it swelled to 3. 3 of gdp. The surge has boosted the yens appeal. They are piling into the yen as global stocks fall. This could be one of the issues for japans trade balance and a possible recovery in oil prices. Chinas Foreign Exchange reserves increased in march unexpectedly as capital outflow pressure eased. When we expecting this to happen . Tom economists expected a theease from march, but reserve grew by 10. 3 billion, the first expansion in five months. You only need to look back to february when we saw 29 billion as a drop in reserves. As of march, chinas total fx totaled 3. 21 trillion. That will ease concerns that the chinese authorities will be forced into burning through the cash pile to prop up the yuan. Controls, the government has ramped up efforts to discourage people from moving their money offshore. Weve had Clear Communications from the peoples bank of china saying the further depreciation of the renminbi is not on the cards. Has the dovish sentiment from the fed and the weaker u. S. Dollar. A word of warning from the analysts, a more hawkish tone from the fed could make this a shortlived reversal. Rishaad right, lets catch up with some other stories. Janet yellen says the u. S. Economy is on a solid course and not in a bubble. Yellen was joined by her three predecessors from 1979 onwards in a Panel Discussion in new york, the first time all four have appeared together. Janet yellen said the appreciation of the dollar in the past 1. 5 years along with slower Global Growth has created a drag on the economy with u. S. Consumer spending not Strong Enough to offset the downside. Still, she says there is no fed target for the currency. Take a listen. We dont have a goal for the dollop it what we are looking at is the economy as a whole and the likely path for inflation and implement to achieve our goals. Her predecessor, ben bernanke, said quantitative butng had been successful, warned it was a mistake to put the entire stemless burden on central banks. Billionaire activist investor daniel loeb has prevailed in a iaming campaign of seven holdings. Eb sent the critical leather to the companys board last month trying tohe ceo of oust a key Company Figure to make way for his son. He is 83 years old and has Chronic Health problems. Holdings has seen a slump, but gaining ground today on the news. Yesterday, the board rejected a plan to remove the 711 japan president , the key executive key daniel loeb praised as to the success of the unit. That prompted suzukis resignation hours later. Int retailing sell the most three years in tokyo trading forecastting profit by a third. A stronger yen you wrote of the and warmoverseas sales Winter Weather hurt demand for s coats and thermal outerwear. It is down from the 100 billion forecast made in january. The company has bet on expanding Clothing Brand outside japan, Opening Stores from london to paris, but this has made the company more vulnerable to a strengthening currency. Tell bloomberg that horizon and google could go head to head in the coming days over yahoos web business. Horizon may also be willing to buy the Company Stake in yahoo japan to help sweeten the offer. Suitors, at t, comcast, and microsoft, have decided against making bids. Yahoo is exploring strategic alternatives, including selling its main internet operations. Shares have fallen 50 in the past year. There are still other potential suitors. Sources say time inc. Is it i evaluatingend is a bit. Firstround bids for the companies maynard webb assets are due april 11. For the companys main web assets are due april 11. Later, coming up running out of steam. Why Standard Chartered says the equity rebound may have run its course. Up next, we talk to the red cross about their relief efforts from australia to the european union. Rishaad it is a final day of the Credit Suisse conference in hong kong. It has brought together experts, including the red cross. Thats right. The is the final day of Credit SuisseAsian Investment conference. President for the National Committee of the red cross is joining me now. You for being with me. Mandate a huge global and spend a lot of time on the australia,yria to what is it right now they keep you awake at night . Indeed, it is the conflict and the dynamic of conflict we experience in many places of the world. The dynamic of violence, which gets increasingly brutal in warfare, the displacement of , theations disintegrations of social systems, health australia, what is it right now they keep you awake at night . Indeed, it is the conflict and the systems the systemsration of social , health systems, which leads to the massive population displacement. Does this create a loop where the more isolationist countries feedback into that this enfranchisement and rise of radicalism . Understandrians also it is a difficult choice to make as a politician between a legitimate security concern that you have, border controls, and more controls in society, in order to know what is happening, the Security Threat for a society and to know what it is, as humanitarians, we are advocates of those who free flee violence and fear, and they need for texan. And they need protection. They flee for legitimate reasons , and their protection concerns are in countries where they tried to flee, so there is loop which hasck a negative impact on people. Haidi i want to bring it back to this part of the world, where you do have grassroots operations, myanmar. How are you hopeful that with the new administration that we will see better treatment of people. Aung san suu kyi has not been particularly forthcoming about this issue. Herunited nations has given 100 days to improve Living Conditions. We have an important humanitarian operation in myanmar. We had humanitarian programs. This will not be an easy go and a quick fix. Minority issues, conflict issues, have torn the country wert for many decades and will have to work persistently with the new government as well to improve the situation and to find Living Conditions acceptable for all the minorities and policies in place , which are more favorable to the minorities. Developing nation like myanmar, there are issues in places like australia and how they deal with the flow of migration, settling them offshore and being processed. A number of scandinavian countries have shown the experience of integrating into the community is perhaps the better option. Do you think australia should be looking at a different way of dealing with migrants . Policies areration in the sovereignty of states, itates make a decision is a very politicized reaction. From a humanitarian point of view, we know from experience that there is only one way which , integration, and with integration comes education and job creation. I am just back from afghanistan. I was impressed. Miles outside a city center, i met elders, and they brought it back to a simple formula. What we need is education for kids, jobs for the adults, security for communities. This is true for countries of origin of migration and also of recipient countries. If you dont have the economy and plays, the structure in place, which allow you to diligently integrate, not from one day to another, everybody understands that we are in a special situation and cant expect miracles from one day to the other, but we need consistent integration policies. We need job creation. We need to assist those who flee legitimate violence and fear. Nobody these his country for no reason. Tore is always a good reason leave, and there is a necessity to assist and protect those people, to give them an opportunity, because otherwise they will go radical. Haidi there is also Economic Opportunity that goes along with that. Thank you. Good luck with your work. It is the last day of the conference, but what a day. A huge list of stellar guests coming up. I will check back in with you later. Rishaad thank you for that. Including of course the sri lankan finance minister, too. Right, lets have a look at headlines. Pakistans envoy to india says his country would like conference of talks to resolve the many issues. Highlevel dialogue between the nucleararmed neighbors has been suspended since january, an attack on an Indian Air Force base. Theattack came days after indian Prime Minister made a surprise visit to his counterpart. Myanmar says it is planning to free all remaining Political Prisoners in one of the first policy statements of the new government. About 100 Political Prisoners are still behind bars, having been jailed by the previous government, 400 people still face political charges. Manny pacquiao returns to the ring a year after his controversial defeat by floyd mayweather. It could be his last fight. He is running for a senate state in the philippines, and if he runs, wins, he will have a fulltime job. He is under pressure from his family to retire from the ring. News. This is bloomberg powered by over 2400 journalists and 150 bureaus around the world, this is Bloomberg News. Up, placing blaine, malaysia targets one former ceo as it clears the Prime Minister of responsibility. Rishaad you are back with trending business as we have a look at what has been going on with malaysia. Lawmakers seeking to draw a line around corruption allegations. Our bureau chief joins us now. Where are we now and what are these findings. After more than a year of investigations and interviews, the committee finally came out with their report yesterday. Point to 4. 2 billion in dubious or unauthorized and unverified transactions. They are putting the blaine on the doorstep of a former chief executive, right . Exactly. Of one in the in f the company. They also mentioned other management, but did not identify who they are. Looked and said they wanted to act in the oversight of the day to day running of the management. There was blame aplenty. Can malaysia move on . Is it all over . Voicesthere still calling for the resignation . It is both. ,he country wants to move on but the opposition and detractors will still go after him for these lapses. He was the head of the Advisory Board for one mdb. Closes, theysia investigations are continuing overseas. Rishaad thank you very much. Now, pressing pause, find out why some analysts say the pboc wont be cutting rates this quarter. Show me movies with explosions. Show me more like this. Show me previously watched. Whats recommended for me. X1 makes it easy to find what blows you away. Call or go online and switch to x1. Only with xfinity. Show show me more like this. S. Show me previously watched. Whats recommended for me. X1 makes it easy to find what blows you away. Call or go online and switch to x1. Only with xfinity. A look at our top stories. Its a love in u. S. Shares rolling into the asiapacific with markets of all down. Japanese equities at the lowest in eight weeks. The yen breaking through that 108 level against the dollar. Concerns continuing to resurface about Global Growth. Fast retailing, pulling the most in 2016. It cut its own for your forecast by one third. Goldman sachs says a record mild winter has hurt sales and merchandising. The u. S. Len says economy is on a solid course. Discussion. A panel ben bernanke said that his Quantitative Easing Program had been successful, but says it is mistake to put the entire burden on central banks. Here is juliet monitoring the market open in hong kong and shanghai. Havette investors centralbank fatigue, and we have seen that come through from wall street and way into markets in the region. The boj, is a going to be intervention in that strengthening yen . Philippines, shanghai coming online and joining in that selling. The hong kong index down by 1 . There is only one stock on that index higher on the open. Were seeing Energy Players come under pressure. Shanghai,weakness in seven tens of 1 down. The nikkei all about 225 deepening second week losses, the yen surging, past 107 briefly in u. S. Trade overnight. The weakness and commodity players playing into the asx 200. That flight to safety, gold stocks looking strong in sydney. This is where we are seeing most of that weakness. Industrial metals, 17 out of the 19 stocks we track lower. A quick check on the yen. It has been the story of the day. The japanese yen to the 18 month high in new york overnight, pushing through 108, but weaker at the moment, down 7 10 of 1 against the greenback. A lot of questions about whether or not there will be intervention anytime soon. Rishaad right, China Central bank most likely to extend its paws on monetary easing. They say a pickup in inflation is becoming a big worry. Our editor malcom scott is with me now. What are the economist seeing . Signs that theng pboc 18 month easing policy is starting to work. Whether the cpi figure is the big worry is debatable. It might be a big relief. A year ago, the real worry it was deflation. Its coming back. The report is expected to come in at 2. 4 . Rishaad just shy of the target, but better than a year ago. You have that. You have monetary conditions looking more easy, welcome for the economy. That said, it shows that policy is working. And you see a pickup and bank lending. Rishaad you dont want to overheat the Property Market again, do you . That is the juggling act. We dont necessarily want extra stimulus, because that debt is a big problem, property prices surging again, so do want to fuel that with further easing. Economists are saying this is the end of the easing cycle for now. Rishaad where to from here . We have this huge debt burden. , well, if youre the pboc come youre probably thinking we need to keep the economy underpinned with easy conditions. To see they have room to active the economy turned south. Do you want to add fuel to this recovery in the biggest cities . Beijing and shanghai prices are escalating. We might have this patchwork of trying to put the brakes on some of the excesses, underpinned the economy with liquid conditions. Where does that leave the economy . Probably still grinding slower. Rishaad we have this gdp numbers of week from now. Exactly. ,e are expecting at this stage so still on year pace, a slowing of the economy, the weaknesses the First Quarter of 2009. Rishaad thank you very much indeed. A look at what is going on in corporate japan with the ceo of 7eleven, quitting after a clash with the board. Directors rejected suzukis 7elevenemove the president. The next ceo. I was quite surprised to hear about my son being a candidate for secession. I had never mentioned it, and my son never thought about it. His expertise is in a technical area, so i dont understand why such a rumor started within the company. Perhaps it is due to a lack of discretion. Is quite ais stunning turn of events, isnt it . It is. This was a shock on many levels. Mr. Suzuki is a giant in his business. E has a 50year career this is a company that has changed hands and become a Holding Company a little over a thede ago to include company where he started his career. He has been around a long time and is a highly regarded ceo, but he is 83 years old, and daniel loeb was raising concerns that he was positioning his son to succeed him. You heard that yesterday he denied that was the case, but it is also a surprise because i