Samsung selling assets to fund the note seven recall. Right. You can let us know what you think of our top stories. Follow me on twitter at rishaadtvand include trendingbusiness. Playing catch up when it comes to hong kong and shanghai. Markets closed on friday. Singapore, taiwan, malaysia coming online. Had a dramatic morning with the technical issues plaguing the asx. In anession was placed enquire state. The technical issues have been resolved, and we are expecting an open at half past the hour. We will be watching that. Taiwan,e, the open in up by 1. 5 . The straight times opening flat, malaysian stocks up by. 5 . Seeing modest gains. The new Zealand Market not moving much. But really the focus for Global Markets is the Central Bank Bonanza happening this week, the fed, the boj, a plethora of regional Central Banks. On thursday, rbnz. There is an outside chance we will be getting a move from the rbnz given Inflation Expectations are week. Bank of the philippines and the central bank of indonesia meeting as well. Inflation is nowhere near that 3 to 5 set by the bank of indonesia. In terms of commodities and currencies, dollaryen. Japan is closed today for a public holiday. An aging population, one of the biggest issues plaguing the japanese economy. Iss is what dollaryen doing, Holding Steady ahead of the central bank meetings. The aussie doing this, coming off losses, strengthening. China Property Data coming out at the bottom of this hour. We will see what impact that has. Oil is the other major story. Oil is rebounding off that one low we had on friday. News out of opec, the secretary could be aing there formal session that comes after this meeting in out jeers in algiers. Rishaad thanks a lot for that. Right. The alarm bell sounding in china, warning indicator of banking shares, highlighting the risks from ballooning corporate debt. Tom mackenzie is looking into this. Welcome back. Kick things off with a look at what this indicator is telling us. Another warning, this time from the bank of international settlements. They have been looking at the credit to gdp cap in china. Gap in china. That is the credit to gdp ratio. The number they are pointing to in the first corner 30. 1 . That is a record, the highest seen in china since data started to be collected in 1995. Higher than 41 other countries, including the euro area. Anything about 10 says bis suggests there are risks in the banking sector. This kind of numbers suggests that a bank crisis could possibly be looming for china, at least according to this indicator. This meank, but does a crisis when it comes to chinese banks . Is it all but inevitable . Well, analysts have been saying for some time now that they are concerned and that there is a strong case to be made that intothree years, chinas banks will need to be recapitalized. The debate is over how much that will be, whether in the billions. One estimate put it at 1. 2 trillion. A lot of analysts are concerned that the bad loan ratio is being downplayed. Is 1. 75cial number percent. Some analysts say it could be closer to 20 . The secondt in quarter, nonperforming loans increased by 6. 8 billion, so there is a lot of concern as to whether or not a bank a lot will be needed. Of course, it should be highlighted that for the large part, the majority, chinas Banking System is controlled by the state, giving them some leverage to mitigate those risks. The levels of overseas debt held by chinas banks is relatively low. Said that when it comes to capital ratios of chinas banks, that even under a severe shock scenario, those capital levels will be adequate. It should be pointed out that has above 10 level the bis highlighted for the credit to gdp ratio, china has been at or above that level since 2009 without yet having a crisis, but yes, this will be for some more whot for the mill for some say there needs to be a 1990s style recapitalization of chinese banks. Rishaad thanks. Right, lets have a look at bomb sniffing before we come to that, quick reminder of a big guest, Joseph Stiglitz talking about the detergents and Central Bank Policy and his outlook. That is 9 40 a. M. Hong kong time. We are talking indeed about what is going on in new york at the moment. We have that story and some others. Bomb sniffing dogs and teams of Police Officers combed the streets of manhattan as the search for those responsible intensifies. 1000 new york state officers and troopers have helped to ramp up security after 29 people were injured in the blast. The increased presence comes ahead of the United NationsGeneral Assembly, which starts later on monday. The new york mayor bill de blasio said the city would have an even Greater Police preference than initially arranged for the event. Governor andrew cuomo said the attack was intentional, but also aat there is no sign of foreign terrorist connection. A second potentially explosive device was discovered nearby, and a pipe bomb blew up earlier in new jersey, but please say there are no obvious links. We are hearing samsungs latest woes could be the result of putting speed first. It is understood the production of the note seven was rushed to take advantage of an underwhelming new iphone. Sources told bloomberg the company decided to accelerate the launched and that that a have played a part in its battery problem. The plan appears to have backfired for samsung, which as had to recall and replace all phones. Samsung announced it had sold stakes in several companies to free up cash flow and focus on its main business. Of selling its shares in various companies came out to just over 890 million. The 1 billion scene as the total bill for the recall. Takataing airbag maker moving ahead to find a buyer. The Japanese Firm had put itself up for sale as it tries to deal with the alto industrys biggest ever recall. Bidderssay it has ask to submit process by this week. Kkr, the carlyle group, said to be among the suitors. Shares have slumped as the Company Faces aliens and potential recall costs. Is plunged him is 90 since january 2014. Over 330ued at just million. Rishaad noble is seeking a strategic investor. It may take as much two years to get back into the black. Lets find out the details and get out over to our Southeast Asia correspondent. They are out there trying to get some new capital. Haslinda thats right. Up itsl needs to prop finances, even though it is on track to raise 2 billion by cutting jobs, selling shares and assets. It is holding back cash on businesses which are profitable. A Strategic Partner . Possible. According to the founder of noble, it has to be at the right time and it has to be the right candidate. It has been difficult for the company, losing 90 of its market value. Its largest Investment Grade rating has been weighed down by debt and slumping commodity prices. The worst isnt over. Some say the biggest challenge may come between april and may next year, when noble has to refinance millions and credit lines. Of q2. Creased at the end time thatle says with number will fall and profit will return. We shall see. The commodity side of things has recovered somewhat this year, but i dont think it has been reflected when it comes to noble shares. Haslinda the short answer is no. Noble shares have extended declines because of liquidity concerns, debt burden, and progress and asset sales. Year alone, it spiraled down almost 60 , at one point reaching the lowest level since 2003. All analysts we talked to have a buy or hold rating on the company. Rishaad nice one. Thank you for that. Troubled times continuing at noble group. Still ahead, days away from governor kurodas latest call. What is in store for stimulus later in the program. Plus, hear from one guest who is sounding a negative note when it comes to u. S. Growth. This is bloomberg. Rishaad right. We have glitches ironed out on the australian market. The asx premarket just started. No change right now. It has moved to preopen as of 11 10 a. M. There. Right. A look at business flash headlines. China postal bank becoming the biggest share sale, attracting huge interest. Sharesan 12. 4 billion are set aside for international institutions, five times oversubscribed. Investors took 80 of shares set aside for institutions. Of u. S. Debtngs have fallen to a threeyear low as it continues to shore up the yuan. Beijing Treasury Holdings decline, a drop of 22 billion on the month. Suggestschinese data fx reserves are little changed. China is the biggest foreign creditor for the u. S. Bonuses steadily rising in japan , now hitting a nineyear high. Major Companies Got a boost of more than a thousand Energy Producers saw a 15 increase. Lets get back to that Investors Forum in hong kong. Our next guest is grim about Growth Prospects in the u. S. Ask him why the long face. You would think so by the title of his latest book, the rise and fall of American Growth. It sounds pessimistic, but perhaps a surprise from macroeconomic macro economist professor at northwestern university. The real about concerns about the American Economy, especially as we look ahead to the fed decision this week. It really does feel like the rules of the game of globalization have changed. Lets be surel, we understand the American Economy is actually doing great by the standards of the rest of the world. Jobs, thesemillion people with the new jobs are spending, Consumer Spending is continuing to go up. I see year after year of this continuing job growth feeding Consumer Spending. What the fed is talking about way too much is a quarterpoint interest in the federal funds rate. It will have virtually no impact on the economy. I think we havent much too much my rise and fall of American Growth is about the long run, why our productivity growth cannot be sustained at the rate of the late 1990s or more so at the rate at the middle part of the 20th century, the great old days of the socalled great inventions. Isnt that a problem today . Especially when you look at the Political Sentiment and the that the outside candidates, the antiestablishment candidates . Feeding on the inequality of the growth occurring. We have a lot of people who because of globalization and autumn is asian have lost out on their chance for the rest of their life of getting good, middleclass, bluecollar jobs or middleclass clerical jobs, and they are rightfully resentful. They think wrongly that some new politician is going to be able to change this very longterm consequence. Societies where the reins of power are given to the people, at the end of the day people are not happy and an economy that does not work for them, what does it say about the leadership . I would say it is an exaggeration to say the economy does not work. We have pockets where people cannot find jobs. Week, the median incomes in the United States rose 5 last year, the most since they started keeping track of the numbers. But in which category . Is the middle person. The lower you go, the bottom 10 , the africanamerican community, they gained more than the people at the top, so we do have a narrowing of these differences that has just emerged over the last year. The news is better than the politicians make out. Longterm, what are the challenges . , thisk about innovation sounds really great until they take peoples jobs away, and in what kind of productivity is left for the humans . We are having major developments in robotics and artificial intelligence. It is evolutionary, not revolutionary. It is occurring in french areas of the economy. Boys recognition, language translation, reading radiology reports, legal searches. There are areas where the computer is taking over, but they are small and happening slowly. You walk around in your dail life, i challenge you to find a robot. In asia, they are here. In japan, they are there. They are in service jobs. They are just starting, and not in the United States. When people are displaced. What can countries and governments do . The most important thing we need is education, a channel of apprenticeships to teach people new bluecollar skills. We have too many people going to college, 40 of College Graduates are not able to find a job that requires a college education, and yet we have shortages of skilled bluecollar people. We have shortages of construction workers, truck drivers, Regional Airline pilots, all sorts of areas where it does not require a college education, so we have an imbalance. I greatly admire the german system of apprenticeships, which creates a track run by companies and governments where these bluecollar jobs and skills are created. Thank you. Back to you. Next, forced to sell, australia cracking down on illegal Property Ownership by foreigners. That is on the way. Rishaad you are back with trending business and me, rishaad salamat. The austrian government has announced a force sale of 16 properties. Its crackdown on Foreign Investment in housing. Lets have a look at all this. Paul allen is in sydney. Tell us about this latest round of sales and why these properties are actually illegal. A combined value of 14 million. From the united kingdom, malaysia, china, and canada. The reason this has become as an issue is that it was noted that the Foreign Investment review board had not brought a prosecution for any legally purchased property for Something Like eight years. Foreign buyers are free to buy into new property developments, properties,xisting they do need approval from a Foreign Investment review board. Since 2013, there have now been 46 sales with a total value of 92 million, including most notably a large property on sydneys waterfront, which alone was worth 39 million. Rishaad ok, the thing is it seems like theyre getting more forceful about this. Are we likely to see more of this happening in the future . There are a number of investigations underway, 2200 cases have and referred to the tax office, which is now overseeing all of this, and there are 400 cases under active investigation right now. There are some pretty stiff penalties. 100 35,000 and or three years in prison. Companies have to sign a 665,000 as a maximum, and the forfeiture of Capital Gains from those properties to be sold before the Tax Department finds out about them. Mentioned, the Property Market in austria has been very hot, so cracking down on foreign buyers like this is politically popular for the government. Rishaad thanks a lot for that. Before we get to let me tell you what we have coming up. Chinas Property Market, is it still overheating or our local governments curbing having the desired effect . That will be in a few minutes. , hong kong and china getting underway. Thats what we have for you. The open proper is three minutes away from now. Rishaad a look at our top stories. Banking stress and china rising to a record, further concerns over ballooning corporate debt, credit to gdp gap, 15 year high, exceeding all other countries according to bis. It signals elevated risks of banking strain. Noble group shares enjoying a lift after the troubled commodities trader is seeking an investor and on track to raise 2 billion. It warned it could be another two years before it returns to profit. Factors all causing shares to slump over the past 19 months. And 90 trout. Samsung said they rushed production of the note seven to gain advantage over what was seen as an underwhelming new iphone sources decided to accelerate the launch of the new device, and that decision may have played a part in its battery problems, samsung sang it is working to replace the defective phones and doing so as quickly as possible. Market action now, hong kong on stream. Sydni joining us now as well after a few technical gremlins. Yes, nice of the australians to join us. The asx has like result the glitches that prevented the normal opening time. We are seeing a flat session for the asx. Online, of these stocks so we will watch that as trading continues and gets under way and for force. Elsewhere, the Greater China shanghaig kong up. 6 ,. 25 , china property numbers for august out in the next couple of minutes. Up by. 5 . The kospi by. 25lippines higher percent. We have a Central Bank Decision from the philippines this week, also rbnz as well. We are expecting them to stand pat. The kiwi session up by. 25 . Straight times index flat. Malaysia up by. 10 we are getting back into the swing of things. One notable absence, japan closed today. Central Bank Activity dominating the agenda this week as traders try to work out whether there is a possibility of more action or whether these warnings that Central Bank Monetary policy is losing potency and whether that will way. Will wigh. Eigh. Rishaad china property prices dropping now. It is a healthy pick up in the property prices in china. Say they are going up too much. It is a strong pickup. This is from the National Bureau of statistics in beijing. They look at prices of 70 cities and price rises in august, prices rose in 64 cities. That compares to 51 in july. We have seen a couple months where prices have been ebbing lower. This is a big pickup. We have breakdowns for toptier cities like a