Faulty takata airbags. They missed estimates by 34 . Alibaba is kicked off an anticounterfeiting group, amid questions of the platforms and worries about a conflict of interest. Alibaba says it must be part of the global fight against fake. To let us know what you think of top stories, you can follow me on twitter at yvonnemantv and do not forget to include the hashtag trendingbusiness. Singapore and malaysia have just come on a line online. How are they digesting this data . Juliette yes, we were pointing to a next session. That is certainly what we are seeing with the ppi numbers coming through the japan, the yen is weakening so japanese stocks are higher and australia due to the fact that we see Good Movement in base metals on friday. Elsewhere, there is data coming through across the board, singapore and malaysia coming down online, all down between. 1 and 0. 2 . The chinese Economic Data coming through on friday, affecting across the board. Markets up without an interesting note saying daytrading chinese are likely to go short, so itll be interesting to see when shanghai comes on. Lets have a look at what is driving these gains on the nikkei 225 apart from the fact that we have seen the weaker yen coming through with a very strong profit number, up by 11 . Still seeing some weakness coming through from some of those export Companies Like rubble which has been under pressure. The oil and gas sex are low today. Oil rising over the course of last week, but falling quite significantly in new york on friday. We are seeing weakness coming through. You did pick up and consumer goods and health care and Consumer Service stocks. The regional index is higher but a bit of a mixed session coming through across the board today, because we did have the disappointing data out of china and japanese ppi. Yvonne thank you so much. That disappointed data from china over the weekend, it has highlighted the challenges facing policymakers trying to reform the economy, cut overcapacity and curb access credit. Lets go to Tom Mackenzie who joins us live from beijing. Tom, just how bad does it look, coming off of a pretty big surprising quarter of expansion. Reporter it certainly reverses some of the optimism we saw in the positive data in march, and it points to just how difficult these gyrations make the balancing act of policymakers, and how difficult it is for investors to get a gauge on the forward path for the economy and retracted gdp on a monthly basis, coming in around 6. 8 in april, down from around 711 in march, and of course we got more detail about this on saturday as to how the economy is faring, Industrial Production up 6 in april, well below the 6. 8 in march. The National Bureau statistics say large part of that is due to reduction in coal and steel the man, also some seasonal demand, also some seasonal effects. Fixed as that investors coming below forecasts as well. They were up 5. 1 in april. Quite some slow down there. Private fixed income and assets that missed targets as well, showing the Business Leaders are not confident in the economy and are not putting their money where the authors where their mouth is. We heard the bank of china calming concerns about the slowdown in pointing to somewhat of a oneoff where we saw a bit of exchange in high cost, low Government Debt for cheaper Municipal Bonds and they say that is an anomaly. The pboc saying they remained supportive and they have a proven policy, but bloomberg intelligent analyst say they do not expect a rate cut this year, or at least it has become less likely, though they expect the slowdown in credit to be gradual, so a gradual tapping of the brakes as policymakers try to balance this very tricky alignment between competing interests. Yvonne. Mix on all fronts. We will take in more detailed look at the story later in the show. We want your opinion. China data helped push australian bond yields to a record low on growing concerns about the aussie economy. Lets bring our fx and bonds reporter who joins us live from sydney. Is this a sign that things are getting worse . Reporter good morning, yvonne. That is a good question. Tenure on deals did hit a record low this morning, but the economy is not doing too badly. Aemployment is at a two and half year low in Consumer Spending is soaring. Overall, policymakers have seemed quite pleased with how the local economy is coping with the downturn in with the slowdown in commodity prices. The missing piece is wage growth and inflation. We have seen inflation at a record low in the first quarter, and the reserve bank just cut Interest Rates to 1. 75 , an unprecedented low this month in reaction. They also said inflation would miss their target demand of 2 to 3 this year. Most traders expect the reserve bank will go ahead, cut rates one more time and maybe that will cut rates twice. The more important part of the reason why we have these offer a low yields is not just what is happening domestically, but what is happening in most developed economies, and the fact that policymakers really have not been able to find a solution for lowinflation, tied to that is the massive stimulus in europe and japan, and while trade in bond yields are low, they are pretty high when you consider that in japan get negative rates across many maturities. Looking at the uncertain growth environment, looking at the uncertain inflation environment wanting to buy government bonds, but they ask, where can i get relatively good returns in astoria still stands out. That is adding additional pressure to bond yields, pushing them down even further. , also and look ahead wage growth data coming out of austrailian, a big risk and the backtoback rate cut. Thank you so much, joining us live some city. Lets take a look at some of the other stories are watching today. More earnings news. Reporter part of the shares have lifted up. Reported net incomes falling 3. 21, missing its forecast by 34 . Looking ahead, it will likely impact profits. For this financial year, on the forecast in at rise of 2. 6 billion in that is based on the assumption that the end will be at 105 to the u. S. Dollar compared to the 120 last year. We are getting a look at how the bank of japans negative Interest Rate policy is affecting some of its banks. The negative rate policy looks at discrete financials, japans second letter, and sees net 4. 5e falling 11 despite billion in the year ending in march. Mitsui financial expense arise of a. 2 and profit to 6. 4 billion, but that is off earnings selling selectively. Alibaba expected to lose its reputation taking a blood. It is suspended from a global antifake group just a month after getting membership. A globalonal ship is organization fighting piracy and fake products. Was ejected from the group after a complaint from some members because the company has not done enough to ban fake goods from its marketplaces. Yvonne on her website, we are looking at Warren Buffett backing a Group Bidding for yahoo s core assets. That is a bloomberg. Com asia. Coming up later this hour, the right to create. Why chinas internet giants are taking a different approach in virtual reality. Asian stocks could see a recovery, but it all depends on china, next on trending business. No earnings showed growth lester, and the way things are going, we may see dismal growth this year as well where should investors put their money . Joining us now is in and manages 20o billion in asian stocks. Arnold, great to have you. Taking a look at the chinese data over the weekend, he said the asian stock recovery depends on what happens in china. Has there been any relief so far from what we have . Reporter no, it is quite clear that the economy and china is doing alright, but the rest of the economy, the industrial economy was posting numbers, they are looking up but remains weak. We do not expect to improve quite quickly, especially after the recent debate last week on which way china is heading, and it is clear xi jinping does not want china to head in that direction. It looked like it was veering in march to do more debts and go back to distill production. If that is not happening, then a lot of those numbers will continue to fall and will put a damper on the overall region, which is why i was saying, do not expect too much from the asian region from here where we are at the support level and cannot fall much further. We will not see any earnings growth, and essentially that is the driver of equity markets. Yvonne well, if we see tighter Credit Conditions in april after we saw what march had with record highs, but the credit growth. How much of a stretch for the sabbath corporate Balance Sheets, and get this trigger more defaults . Sure, that is what you see such a worry in china, a number of week companies of their. A question is to what it stand will to what extent will the state extend a hand . You have the implicit guarantees here and there which may or may not be heated. You will definitely see unrest. Most of the stock market listed companies, their Balance Sheets are relatively ok, so you will see a lot of gain in companies we would not invest in. The other ones should be ok. Yvonne what sectors do you see things are looking a little ok . You mentioned that the shanghai composite, you should be looking that as a gauge of the economy. Where are you looking at sources of Growth Drivers in the Chinese Market . The real Growth Drivers, the consumption is Still Holding up quite remarkably well, i must say. Considering the rates growth is also slowing down quite a bit, and people are prepared to spend and take out mortgages if they can, so those kinds of consumption related sectors continue to do relatively well. What we have seen their is there have been some problems of overcapacity and therefore margins of companies in the sectors have been under pressure, but that seems to be stabilizing, so you can see some opportunities in Consumer Discretionary and maybe in Consumer Staples because that is where your seen most of the margins shrank. Yvonne we still see retail sales looking strong in march and april. You seem like not too much a believer in a strong yen which seems to be the consensus, they believe the yen will go higher than it already is. Why do you think so, because we continue to see Global Growth concerns and a lot of reluctance coming out of the boj to do much . Fortunately, they cannot do too much, because the one thing that tried was such a miserable failure and put the bank system under pressure, so there has been a fight between mr. Kuroda and the bank of japan and mr. Abbe that they should not go in that direction any further. That is why they have come to a gridlock here, that japan cannot do very much, which for me is fine because i do not believe monetary policies will provide japan at all, and what i am surprised with is the fact that so many investors have gone from being extremely short with the japanese yen, which is only five months ago to being extremely long with the yen, thinking were headed straight back into deflation. Everything i hear from people in japan is that we are not going back into deflation. Occasionally you still see companies raising prices, apartment prices have gone up a stabilizing, but there is no idea that we are going back into deflation which is the only reason why the japanese yen may be strong, because you have the real rate, and what is that these days . [laughter] that would offer for a stronger yen. I do not expect deflation to take hold, still seek. 6 Energy Inflation in japan, which is clearly nothing to percent that the bank of japan is looking for, but it is not the deflationary environment where we had 0. 3 . It is still a long way to go, and i do not see much pressure downward on inflation, and that is why i do not believe the end will be very strong, which is also why some people think the japanese valuations look pretty attractive and that the markets should really be inspired by those improvements we have seen in the companys raising the dividends. Not shootthey do themselves in the foot now. I just think the guidance is lead to them being ok. Yvonne thank you so much for joining us. The stories making headlines around the world. Beijing has criticized the u. S. On land recommendations in the south china sea. The Defense Ministry says this will destroy chinas National Defense policy, adding that washington is too suspicious. The congress as china is organizing islands in order to have control over the area without forcing conflict. The incoming president of the philippines says beijing must understand that the islands are philippine territory and chinas presence is illegal. They are due to meet the Chinese Investor today and will not relent territorial claims nor rely on a defense pact with u. S. To resolve the dispute. He also told a News Conference that he will reinstate executions by hanging in criminal cases. End the season football match was abandoned because of what is now described as a Security Training device. Evacuated in the remaining fans were told to match would not go ahead and a local team carried out a lifelike explosive device but was not viable. It had been accidentally left in the stadium by a private security company. Powered by over 24 journalists and 150 bureaus around the world, this is bloomberg news. Yvonne up next, another banking hack exposes risk in the global system for money transfers. Details, up next. Yvonne we have breaking news coming out of nintendo after it is seeking to enter the film business. The company says it will use funds from the Seattle Mariners sale for his movie operations. They are to include dvd, film lets in the company is in talks with multiple companies at the moment with the Film Production operation, so we did hear a report over the weekend that the Company Wants to do as much as possible with some production and him to complete their first movie in three years and targeting japan and the overseas markets, including the u. S. Nintendo shared 1. 9 in tokyo right now. Swissdesh says his interbank maxygen messaging , and now a Vietnamese Bank says it has also been hacked. Lets go to christopher languor who joins us live from singapore. Good to see you, chris. How does this work and why are they being hacked . Tell us more. Reporter the huge messaging system among thousands of banks it is the world, basically at the core of all of the International Banking transactions that happen. Every time you transfer money to somebody abroad, there is a little message that is sent saying, this money is coming from you for us, and the money is transferred. Is that basic trust of not being able to trust who is messaging you or how that message is coming to you, undermined. I do not know what will happen with the International Banking system. It is something to be worried about, you on. Yvonne. Yvonne you mentioned the impact it could have on the global banking. He says the swiss must take responsibility for the hike. Has been saying it is not the responsibility. Somebody hacked on the other side and sent the message their swift saying they were somebody else. Again, if the banks cannot trust who is sending them the message, they are going to stop trusting swift altogether. That is very complicated, because again, swift is at the heart of all of the International Transactions it they send millions of messages every year, actually billions of messages every year, and they charge for every message that is sent. That is their model, owned by all of the banks but it is a very profitable business. If banks cannot trust each other, how are they going to trust which is at the heart of banking . Swift has to do something to change that, and they are not doing enough. Yvonne what can swift to do, chris . Reporter well, swift has an annual event, and i happen to be at their annual event last year, and every year for the past two years, they have been talking about a lot of block chain, which is the same Technology Used for bitcoin and a distribution of ledger and what it does is it allows transactions to be independently verified, so you stop needing to depend on somebody on one side to verify that that is true or not. A kind of brings trust back to all of the banking transactions because you do not have to trust everybody, you trust the machine. The trouble is, swift has been very slow, have not been swift at all in adopting block chain because they are afraid it could replace their system and replace them altogether, but they have not embraced it entirely, and as they slow and they are lagging behind and block chain develops, the hackers are catching up with them and are really entering their system and hacking a lot of banks and making a lot of money. Yvonne all right, chris. ,s you mentioned, your column it is a marathon not a sprint. Southbank is considering the sale and super so. A majority makes stake in the health developer for 1. 5 billion second 2013. We are seeing softbank sales up 7 10 of 1 . Coming up, chinas bank envelope for reality. We are taking a look at what the Top Internet Companies are doing theap the global tap global industry. [ soft music ] e. T. Phone home. When you find something you love, you can never get enough of it. Change the way you experience tv with xfinity x1. Not the same yvonne top stories trending this hour. And next start to delete for asian shares after disappointing Economic Data from japan and china. Japanese stocks are gaining despite producers falling in april, and chinese production and retail numbers fell short of