:00:00. > :00:00.for Ed Miliband. Now on BBC News, all the latest
:00:00. > :00:23.business news live from Singapore. Police crackdown on protesters in
:00:24. > :00:29.Hong Kong. Stock market opens though banks suspend operations.
:00:30. > :00:38.Rockstar welcome for India's Prime Minister. Will it translate to
:00:39. > :00:43.business deals? Hello and welcome to this edition of
:00:44. > :00:48.Asia Business Report. Hong Kong traders braced for a
:00:49. > :00:51.sell`off on Monday and make plans to work outside the financial district
:00:52. > :00:56.after the biggest police crackdown on the city since it was returned to
:00:57. > :01:01.Chinese rule. Police used tear gas to break up the demonstration
:01:02. > :01:04.following protesters surrounding government buildings and blocking
:01:05. > :01:10.traffic. It is home to the fifth largest stock market. The central
:01:11. > :01:17.bank says 29 branches of 17 banks have been suspended with the
:01:18. > :01:21.operations. We will look at the markets as the open. Let's speak
:01:22. > :01:33.with the CEO of Cathay asset management. These dramatic images of
:01:34. > :01:37.protest ers being tear gas on the streets of Hong Kong. What message
:01:38. > :01:43.does this send to investors around the world? These are scenes we
:01:44. > :01:47.haven't seen in Hong Kong for a long time. It's a confrontation with the
:01:48. > :01:54.authorities and with police that flared up on Sunday. It has been
:01:55. > :01:58.covered widely in the press. Investors will be concerned. Perhaps
:01:59. > :02:01.not by the scenes, but where this leads, whether the stand`off
:02:02. > :02:07.continues and what the outcomes might be. We have the stock market
:02:08. > :02:11.opening about now and the expectation is that the market will
:02:12. > :02:17.sell off initially. We have a truncated week with the national day
:02:18. > :02:23.holidays. With banks in shutdown, 29 branches, it is the long weekend
:02:24. > :02:28.coming up and there are concerns that Chinese tourists might stay
:02:29. > :02:36.away. This will impact China's service oriented economy. This is a
:02:37. > :02:42.question of access. Access to officers, the shopping and public
:02:43. > :02:47.transport. That's where the disruption is heavily felt this
:02:48. > :02:55.morning. A number of train stations empty and others congested as there
:02:56. > :03:01.are restrictions. Ask services in key areas on the island, they have
:03:02. > :03:06.been rerouted. This has made life more difficult for those getting to
:03:07. > :03:09.work. Schools in the central area on the island have been closed, which
:03:10. > :03:16.eased traffic this morning. As you say, tourist arrivals could be
:03:17. > :03:20.hurt. This comes at a time with the clampdown on conspicuous consumption
:03:21. > :03:26.in China affecting the retail industry in Hong Kong more broadly.
:03:27. > :03:31.Do you think this will be a short term impact, or other concerns this
:03:32. > :03:35.could go on long`term, especially as protesters and no sign of China or
:03:36. > :03:40.the government giving in? That is the point. That is where investors
:03:41. > :03:47.will focus. It started as a student protest and has taken on the Occupy
:03:48. > :03:51.Central movement. The leadership has pulled back, suggesting the
:03:52. > :03:55.stand`off has become a control. Whether or not this leads to further
:03:56. > :03:59.stand`off, whether it extends in terms of further protest in the
:04:00. > :04:02.business district remains to be seen. It rest in the reaction from
:04:03. > :04:07.the leadership and from the authorities and the possible
:04:08. > :04:12.comments which aren't guaranteed, from Beijing, and what reaction we
:04:13. > :04:16.will get. Given it is a short week and things could get difficult in
:04:17. > :04:22.and around the public holiday. Thank you so much for joining us from Hong
:04:23. > :04:27.Kong. The markets are just opening.
:04:28. > :04:37.Let's take a look at what they are doing. They are slightly lower, I
:04:38. > :04:40.believe, they are falling and that says investors and traders remain
:04:41. > :04:44.sidelined, many in the financial district having trouble getting to
:04:45. > :04:48.work this morning as protesters blockade the streets. If we look at
:04:49. > :04:56.the other markets. Lots of them are flat. Many shrugging off Wall
:04:57. > :05:02.Street's rebound on Friday because of the political unrest in Hong
:05:03. > :05:06.Kong. The Indian Prime Minister, Narendra
:05:07. > :05:10.Modi, was given a welcome reserved normally for rock stars on his visit
:05:11. > :05:16.to the US. He's a parent at Madison Square Garden on Sunday sold out. ``
:05:17. > :05:23.his appearance. The trip is focused on building trade and Prime Minister
:05:24. > :05:25.Modi is holding meetings with several Fortune 500 companies
:05:26. > :05:29.including PepsiCo and Google. He came to power promising economic
:05:30. > :05:33.change and our correspondent, Michelle Fleury, asked the head of
:05:34. > :05:40.the US India business alliance if he can deliver.
:05:41. > :05:43.His track record is a very good, that's why he got elected with such
:05:44. > :05:48.a mandate. The difference is the mandate he has. The prior government
:05:49. > :05:53.announced a lot of policies, whether in retail or not, because of the
:05:54. > :05:59.coalition, they were checkmated, stalemated. He has a clear mandate.
:06:00. > :06:03.With that, he can get things done. The odds are that he will.
:06:04. > :06:10.Is this visit hitting the reset button? It is more than hitting the
:06:11. > :06:15.reset button. For a person who was persona non grata up until one year
:06:16. > :06:19.ago, his meeting with President Obama twice, his meeting with the
:06:20. > :06:25.vice president and Secretary of State, he is meeting the defence
:06:26. > :06:30.secretaries, he is meted Ivy Tour by the Fortune 500 CEOs. Buttons have
:06:31. > :06:38.been hit hard `` he is being met with Fortune 500 CEOs.
:06:39. > :06:43.Japan's bank is in talks to acquire DreamWorks, a Hollywood animation
:06:44. > :06:48.studio behind the move Shrek and Madagascar, worth $3.2 billion. It
:06:49. > :06:52.would make the bank the second Japanese tech company to buy a
:06:53. > :06:56.Hollywood studio following Sony's acquisition of Columbia pictures in
:06:57. > :06:59.1989. Alibaba iMac buys a 15% stake in the
:07:00. > :07:05.Chinese hospitality technology provider, and information technology
:07:06. > :07:08.company `` Alibaba. It is the biggest investment since
:07:09. > :07:13.the record`breaking share listing in New York. The $416 million deal
:07:14. > :07:18.paves the way for Alibaba to develop its travel business and help migrate
:07:19. > :07:26.hotel customers to Alibaba's e`commerce website.
:07:27. > :07:29.The Norwegian telco launches in Myanmar, the second foreign
:07:30. > :07:33.telecommunications company operating in the country formerly known as
:07:34. > :07:36.Burma. After decades of military rule,
:07:37. > :07:40.Myanmar is one of the world's least connected nations. Last month, the
:07:41. > :07:49.government said one in ten people had a mobile phone. We speak with
:07:50. > :07:53.the head of the company. We need to get into the remote areas as soon as
:07:54. > :07:56.the ball. There are infrastructure
:07:57. > :08:03.challenges. We start with the cities and then we roll out our services in
:08:04. > :08:05.the villages. Our aim is that, within the first five years, we
:08:06. > :08:10.should covered 90% of the population. You say there are
:08:11. > :08:14.infrastructure challenges. What are some of the other challenges and the
:08:15. > :08:20.business risk of going into a market like Myanmar? We have been operating
:08:21. > :08:24.in Asia for 15 years, in markets like Bangladesh, Pakistan,
:08:25. > :08:31.Thailand, India and Malaysia. We were prepared. However, this is more
:08:32. > :08:34.difficult than we have done before. If I should give you two or three of
:08:35. > :08:38.the issues, that would be land rights. When we roll out towers, we
:08:39. > :08:44.need to know who the land owners are. There are no papers. We have
:08:45. > :08:49.problems with finding the right talent, we are hiring around 1000
:08:50. > :08:53.people and we need to take them fresh from university and train
:08:54. > :08:56.them. Then there are infrastructure challenges like lack of roads, lack
:08:57. > :09:02.of electricity grids and so on. This takes time.
:09:03. > :09:08.For the first time, Xbox goes on sale in China, following the lifting
:09:09. > :09:13.of a government ban on game consoles. The three makers of
:09:14. > :09:17.consuls, Microsoft, Sony and Nintendo, wanted access to China's
:09:18. > :09:22.multibillion dollar market. A quick look at the markets. They are just
:09:23. > :09:27.opening and as you can see we have those numbers are for Hong Kong's
:09:28. > :09:32.Hang Seng. Dramatic falls, down almost 300 points. That is in
:09:33. > :09:36.reaction to those protests that we saw over the weekend and that our
:09:37. > :09:42.continuing this morning. Protesters have been tear gas on the streets of
:09:43. > :09:48.Hong Kong. Something that hasn't happened for a number of years with
:09:49. > :09:55.teargas and pepper sprayed being used `` tear gassed. The Nikkei is
:09:56. > :10:00.up about 80 points. That is boosting export oriented stocks. In
:10:01. > :10:08.Australia, we haven't seen great numbers. Iron ore prices impact it.
:10:09. > :10:16.We have seen the ASX All Ordinaries down about 40 points `` impacted. As
:10:17. > :10:23.I mentioned, the weakness of the yen. The US dollar is at a near four
:10:24. > :10:27.year high, against other currencies. That is it for this addition of Asia
:10:28. > :10:38.Business Report. Thanks for watching. `` edition. Hello. You are
:10:39. > :10:40.watching BBC News. Our top stories: Hong Kong's protests escalate:
:10:41. > :10:43.thousands are continuing to defy police and the authorities as they
:10:44. > :10:44.call for full democracy. The Islamic State