:00:00. > :00:00.will be provided, is the result of a row over new contracts.
:00:00. > :00:17.Now on BBC News, all the latest business news live from Singapore.
:00:18. > :00:23.Asian stock markets are recovering some of the losses from Monday stop
:00:24. > :00:29.we cross live to Hong Kong for the latest. Drowning in rubbish. We look
:00:30. > :00:38.at how Jakarta is facing a waste management crisis.
:00:39. > :00:52.Thank you for joining us. The Chinese markets are showing no sign
:00:53. > :00:57.of stabilising after more falls yesterday. As trade opens this
:00:58. > :01:04.morning, the Chinese currency is as much in focus as the stocks. Looking
:01:05. > :01:11.at the market now... The Hang Seng has just opened for trading and is
:01:12. > :01:16.in positive territory. The Nikkei is continuing to feel jitters after the
:01:17. > :01:38.market was closed yesterday for a public holiday. South Korea and
:01:39. > :01:43.Australia are in positive territory. We are seeing so far a mixed bag
:01:44. > :01:46.from the Chinese stock market, particularly the Shanghai stock
:01:47. > :02:01.market, which is up by one third of 1% in early trade. Thank you for
:02:02. > :02:11.joining us. It seems that we are seeing some, waters in the Chinese
:02:12. > :02:19.markets this morning. That is right. I think a lot of people are
:02:20. > :02:24.relieved. The Hang Seng is it about 0.5%, basically tracking what we
:02:25. > :02:31.have seen in the Shanghai market, which opened slightly earlier. May
:02:32. > :02:36.be one of the reasons for a slightly better day today than yesterday as
:02:37. > :02:40.the fact that the Chinese central bank said the midpoint for the
:02:41. > :02:56.Chinese currency steady from where it was said yesterday. I think that
:02:57. > :02:59.is helping inject some stability, particularly into the Chinese market
:03:00. > :03:04.this morning. And Reuters is reporting that the central bank will
:03:05. > :03:14.be injecting about $12 billion of liquidity into the money market
:03:15. > :03:19.today. Despite these measures being implemented by Chinese regulators,
:03:20. > :03:24.there seems to still be no trust among investors to really come back
:03:25. > :03:33.in a big way into the mainland markets, despite all of these
:03:34. > :03:37.initiatives. I think that you are right. The Central Bank of China has
:03:38. > :03:43.been promising to improve its communication with the market. I
:03:44. > :03:49.think that investors are not rating how well they have been doing in
:03:50. > :03:53.terms of communication. That as well as genuine worries about the state
:03:54. > :04:06.of the economy are still continuing to affect markets. Thank you. All of
:04:07. > :04:10.this market volatility in China and the other economic problems are
:04:11. > :04:19.affecting sentiment globally and commodity producers are bearing the
:04:20. > :04:25.brunt. Alcoa posted better-than-expected fourth-quarter
:04:26. > :04:31.numbers but reported a loss of about $500 million. They have been hit
:04:32. > :04:41.hard by the, which is crunch, with shares falling nearly 50%. -- by the
:04:42. > :04:47.commodities crunch. There is certainly no doubt that through 2016
:04:48. > :04:51.if we see this weakness in commodities continue, we will see
:04:52. > :04:59.companies beginning to look too in depth -- divest their dismisses and
:05:00. > :05:07.take further cost-cutting. -- divest their businesses. You can really see
:05:08. > :05:11.that companies are cutting costs out and we think that through 2016, the
:05:12. > :05:13.big resource companies, especially in Australia, will continue to do
:05:14. > :05:22.that. Car lovers from across the world are
:05:23. > :05:27.in Detroit right now for the annual North American International auto
:05:28. > :05:28.show. How have the major car giants been affected by the slowdown in
:05:29. > :05:38.mainland China? Obviously, we are talking about an
:05:39. > :05:42.autoshow in North America, which is just coming off a record year for
:05:43. > :05:50.sales full of unsurprisingly, many of the people I have been speaking
:05:51. > :06:00.to have been offbeat. But when it comes to China, -- upbeat. But when
:06:01. > :06:16.it comes to China, they have not got much less do will be for them. They
:06:17. > :06:19.feel is fairly flesh. -- bullish. We just completed a number of new
:06:20. > :06:25.plants in the country, so we are still bullish and we still have the
:06:26. > :06:32.long-term growth plans in China that are still very positive. Does that
:06:33. > :06:38.mean you will outpace sales this year? Our expectation is that the
:06:39. > :06:44.market will grow moderately. The reason for that is that the
:06:45. > :06:51.government will be supporting auto industry sales. They are also quite
:06:52. > :07:02.bullish about the Chinese auto market. What are some of the trends
:07:03. > :07:10.in Detroit? This year, it has actually been calmer than before. I
:07:11. > :07:13.think because vehicles are selling well, we have seen a lot of
:07:14. > :07:18.practical cars but not much that really gets the pulse racing. One
:07:19. > :07:27.thing I want to show you... You may be familiar with this because it is
:07:28. > :07:31.made by Hyundai, but this vehicle is actually making its debut for the
:07:32. > :07:37.first time here in North America in Detroit. It is part of Hyundai's
:07:38. > :07:45.attempt to make further inroads into the luxury market. They have been
:07:46. > :07:49.investing heavily in trying to develop that brand.
:07:50. > :07:54.Jakarta is one of the world 's largest megacities and its growing
:07:55. > :08:00.middle class is producing more and more trash. There are not enough
:08:01. > :08:02.garbage trucks or space for the waste. The country is now facing a
:08:03. > :08:16.waste management crisis. Jakarta relies on this one rubbish
:08:17. > :08:23.dump on the outskirts of the city. BJ, lorries bring in 10,000 tons of
:08:24. > :08:27.rubbish. -- every day. A lot of the waste never makes it anywhere near
:08:28. > :08:31.the landfill, ending up here in the river. It is estimated around seven
:08:32. > :08:37.football fields per day of rubbish ends up here. There has been heavy
:08:38. > :08:41.rain lately, so the river is cleaner than usual. Still, every five
:08:42. > :08:48.minutes, we have to stop and pull out plastic from our engine.
:08:49. > :08:54.TRANSLATION: There is a lot of rubbish here and it is overflowing
:08:55. > :08:59.into the river. 200 kilometres from the coast, this is where some of the
:09:00. > :09:02.waste ends up, washing ashore on these beautiful beaches of the
:09:03. > :09:08.thousand Islands. The community relies heavily on tourism but
:09:09. > :09:19.swimming here is like swimming in a sea of plastic. TRANSLATION: Most of
:09:20. > :09:22.the Savage comes from Jakarta. 12 heavily polluted rivers empty out
:09:23. > :09:31.into the bay. -- most of this rubbish comes from Jakarta. A study
:09:32. > :09:34.by the university of Georgia release this year found the water around
:09:35. > :09:44.Indonesia as the world's second-highest amount of plastic.
:09:45. > :09:47.The government is paying the screen is $200 per month to pick up the
:09:48. > :09:55.rubbish. It is then shipped back to that one rubbish dump in Jakarta. To
:09:56. > :10:00.offer an alternative, this man set up a small recycling company when
:10:01. > :10:05.you go. We want to make zero waste. Zero waste is the Smiths. Companies
:10:06. > :10:13.and housing complexes train them to collect waste and recycle it. The
:10:14. > :10:19.business opportunity is there because people want to be
:10:20. > :10:25.responsible. There is a desire among people to recycle. He says the
:10:26. > :10:28.government and investors are slowly realising what they have known for a
:10:29. > :10:33.long time, that there is money in recycling.
:10:34. > :10:39.Taking a quick look at the markets, now, most stocks in the Asia-Pacific
:10:40. > :10:53.region are in positive territory after US equities ended a volatile
:10:54. > :10:57.session overnight. China jitters continue to impact the Japanese
:10:58. > :11:01.market and the Chinese stock markets are currently flat. Thank you or
:11:02. > :11:05.investing your time with us. Goodbye for now.
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