20/12/2013 Asia Business Report

Williams in what the judge described as an unspeakable act. Now on BBC

News, all the latest business news live from Singapore.

Appealing to global investors, how Hong Kong compares to Asian

investors as a holiday destination. International auction house enters

the Indian market. Welcome to the Friday edition of

Asia Business Report. Bankers have traded in Hong Kong.

The median size Chinese vendor arrays as much as $3 billion, making

it the city's against new listing this year. Our correspondent has

more. For China and the bright bank, a

lender based in Beijing, the third time was the charm. -- ever right

bank. It has succeeded in raising billions of dollars, making it the

city's biggest initial public offering this year. The bank is the

third Chinese financial institution to have listed here in the past

month. It may have raised slightly less money than some investors had

expected, but the offer has brought optimism back to another -- and

otherwise lacklustre market. The Hong Kong Stock Exchange was the

world 's top destination for new listings in the three years from

2009 to 2011. A slowdown in the Chinese economy and more cautious

attitude by regulators had contributed to a slump in the market

since then. Investors are hoping the other listings will mark a turning

point. Some of them are dating a number of economic and financial

forms announced by the Chinese government this autumn will help

improve how global shareholders the Chinese stocks. These investors are

looking forward to lively markets for new listings in 2014.

US authorities have filed criminal and civil charges against a former

manager at Microsoft. He fed inside information to a day trader to clear

transactions worth nearly $400,000. Brian was a senior manager at

Microsoft's treasury group, when he provided information to a friend.

Dickie accused of trading on developments at Microsoft, .

Target set many millions of its customers' credit card details may

have been compromised. It began around November 29. The shopping

period known as Black Friday, the busiest shopping days of the year.

North and South Korea have held their first official meeting since

the execution of the uncle of Kim Jong-un. Trade brought the two sides

together. They want to expand the key song in the -- the case of

industrial park. Official talks coincided with the foreign

delegation visiting the zone as part of efforts to make it more

attractive as a production centre. The outraged hammer out the

parameters and laws of the operation of the park. The two sides are

getting closer together on customs and transportation. The big sticking

point, access to the internet, mobile phone coverage inside the

park. It sits just inside North Korea, where these things are not

available to the public. Their boss encourages something foreign

investors want to see if they do come and invest in the park

themselves. How keen on both sides to get more foreign investment into

that? There is enthusiasm on both sides for different reasons. South

Korea wanted to agree to reopen the park and see some changes. Foreign

investment would help stabilise the park and stop further closures.

North Korea stands to gain economically. The income it gets to

work economically. The income it gets through workers are imported.

If more companies move in, more North Korean workers will get paid.

If foreign investors are still cautious about investing, the assets

that the park offers, like cheap labour, has been shown to be offset

by the instability of the park. It was suddenly closed a few months

ago. The broader political instability as well, coming so soon

after the purged from the ranks of North Korea's leadership, the

execution of Kim Jong-un's encore. Investors in South Korea seem to

have something against that. On occasion, things have happened

between the two countries but have not disrupted investment too much.

The industrial park is -- is a special case, situated inside North

Korea. It does have the means to close access to it. Investors will

be wary of, in the short term, waiting to see which way the wind is

blowing and how far the countries are willing to compromise. South

Korea is keen to hold onto it and keep it opened, expanded operations.

India's benchmark stock index retreated by 151 points on Thursday,

after the Fed announced plans to wind down its stimulus programme.

Our correspondent has more. Indian stock markets have stepped

off the back of the US Federal Reserve position but it has not been

a bloodbath like we saw in May this year. The markets were heavily in

the red. The country's Central Bank governor said India is better

prepared to deal with the paper. Stock market in recent months have

pushed up -- have been pushed up. There are worries these will be

diverted. For more news on tapering, chin in

later today. A London-based auction house,

Christie 's, marked its entry into India by holding its first ever sale

of South Asian art in Mumbai. How many Indians can afford the high

prices paid a serious collectors? Our correspondent has more.

Sold. Bring in Indian art back home. 83 artworks by some of the

best-known global Indian artists were sold in the first ever auction

by Christie 's in Mumbai. Even though foreign demand for Indian art

was on the rise, Christie 's auction in India happened at a time when the

domestic art market was going through a downturn. At two that the

country 's economy slowing down. Was this the right time to India? I feel

it is important for us to be in India. We have a proper auction to

help the market convene around the events. We are here for the

long-term. There will be ups and downs. Christie 's is betting on the

growing number of affluent Indians who have started collecting art in

recent years. Many purchase art for the love of it but there is also a

growing sector buying it as a form of investment, like this man. He

started purchasing art pieces 16 years back. Ever since, it has

become a man investment avenue for him. One thing I tell everyone is

that gold and shares is something you cannot enjoy physically. It is

not something you can see and appreciate. But art is something

that hangs on the wall. It is appreciated. Compared to other Asian

countries like China and Singapore, the Indian art market is still

undeveloped. For many Indian artists, their agony and global

recognition. Investors hope this is one sector whose future is bright.

We are seeing mixed shows across the board in Asia.

That is it for the edition of Asia Business Report. Thank you for

watching. These are the headlines: The roof of

a crowded theatre has clubs in London's West End. 76 have been