12/01/2016 Asia Business Report

will be provided, is the result of a row over new contracts.

Now on BBC News, all the latest business news live from Singapore.

Asian stock markets are recovering some of the losses from Monday stop

we cross live to Hong Kong for the latest. Drowning in rubbish. We look

at how Jakarta is facing a waste management crisis.

Thank you for joining us. The Chinese markets are showing no sign

of stabilising after more falls yesterday. As trade opens this

morning, the Chinese currency is as much in focus as the stocks. Looking

at the market now... The Hang Seng has just opened for trading and is

in positive territory. The Nikkei is continuing to feel jitters after the

market was closed yesterday for a public holiday. South Korea and

Australia are in positive territory. We are seeing so far a mixed bag

from the Chinese stock market, particularly the Shanghai stock

market, which is up by one third of 1% in early trade. Thank you for

joining us. It seems that we are seeing some, waters in the Chinese

markets this morning. That is right. I think a lot of people are

relieved. The Hang Seng is it about 0.5%, basically tracking what we

have seen in the Shanghai market, which opened slightly earlier. May

be one of the reasons for a slightly better day today than yesterday as

the fact that the Chinese central bank said the midpoint for the

Chinese currency steady from where it was said yesterday. I think that

is helping inject some stability, particularly into the Chinese market

this morning. And Reuters is reporting that the central bank will

be injecting about $12 billion of liquidity into the money market

today. Despite these measures being implemented by Chinese regulators,

there seems to still be no trust among investors to really come back

in a big way into the mainland markets, despite all of these

initiatives. I think that you are right. The Central Bank of China has

been promising to improve its communication with the market. I

think that investors are not rating how well they have been doing in

terms of communication. That as well as genuine worries about the state

of the economy are still continuing to affect markets. Thank you. All of

this market volatility in China and the other economic problems are

affecting sentiment globally and commodity producers are bearing the

brunt. Alcoa posted better-than-expected fourth-quarter

numbers but reported a loss of about $500 million. They have been hit

hard by the, which is crunch, with shares falling nearly 50%. -- by the

commodities crunch. There is certainly no doubt that through 2016

if we see this weakness in commodities continue, we will see

companies beginning to look too in depth -- divest their dismisses and

take further cost-cutting. -- divest their businesses. You can really see

that companies are cutting costs out and we think that through 2016, the

big resource companies, especially in Australia, will continue to do

that. Car lovers from across the world are

in Detroit right now for the annual North American International auto

show. How have the major car giants been affected by the slowdown in

mainland China? Obviously, we are talking about an

autoshow in North America, which is just coming off a record year for

sales full of unsurprisingly, many of the people I have been speaking

to have been offbeat. But when it comes to China, -- upbeat. But when

it comes to China, they have not got much less do will be for them. They

feel is fairly flesh. -- bullish. We just completed a number of new

plants in the country, so we are still bullish and we still have the

long-term growth plans in China that are still very positive. Does that

mean you will outpace sales this year? Our expectation is that the

market will grow moderately. The reason for that is that the

government will be supporting auto industry sales. They are also quite

bullish about the Chinese auto market. What are some of the trends

in Detroit? This year, it has actually been calmer than before. I

think because vehicles are selling well, we have seen a lot of

practical cars but not much that really gets the pulse racing. One

thing I want to show you... You may be familiar with this because it is

made by Hyundai, but this vehicle is actually making its debut for the

first time here in North America in Detroit. It is part of Hyundai's

attempt to make further inroads into the luxury market. They have been

investing heavily in trying to develop that brand.

Jakarta is one of the world 's largest megacities and its growing

middle class is producing more and more trash. There are not enough

garbage trucks or space for the waste. The country is now facing a

waste management crisis. Jakarta relies on this one rubbish

dump on the outskirts of the city. BJ, lorries bring in 10,000 tons of

rubbish. -- every day. A lot of the waste never makes it anywhere near

the landfill, ending up here in the river. It is estimated around seven

football fields per day of rubbish ends up here. There has been heavy

rain lately, so the river is cleaner than usual. Still, every five

minutes, we have to stop and pull out plastic from our engine.

TRANSLATION: There is a lot of rubbish here and it is overflowing

into the river. 200 kilometres from the coast, this is where some of the

waste ends up, washing ashore on these beautiful beaches of the

thousand Islands. The community relies heavily on tourism but

swimming here is like swimming in a sea of plastic. TRANSLATION: Most of

the Savage comes from Jakarta. 12 heavily polluted rivers empty out

into the bay. -- most of this rubbish comes from Jakarta. A study

by the university of Georgia release this year found the water around

Indonesia as the world's second-highest amount of plastic.

The government is paying the screen is $200 per month to pick up the

rubbish. It is then shipped back to that one rubbish dump in Jakarta. To

offer an alternative, this man set up a small recycling company when

you go. We want to make zero waste. Zero waste is the Smiths. Companies

and housing complexes train them to collect waste and recycle it. The

business opportunity is there because people want to be

responsible. There is a desire among people to recycle. He says the

government and investors are slowly realising what they have known for a

long time, that there is money in recycling.

Taking a quick look at the markets, now, most stocks in the Asia-Pacific

region are in positive territory after US equities ended a volatile

session overnight. China jitters continue to impact the Japanese

market and the Chinese stock markets are currently flat. Thank you or

investing your time with us. Goodbye for now.

The top stories this hour: Fans around

the world have been celebrating the life and music of David Bowie,