0:00:00 > 0:00:00More on that to come, stay with us.
0:00:00 > 0:00:02A rise in interest rates next week is looking increasingly likely,
0:00:02 > 0:00:04after the economy performed better than expected between
0:00:04 > 0:00:05June and September.
0:00:05 > 0:00:06GDP rose by 0.4%.
0:00:06 > 0:00:17Now on BBC News all the latest business news live from Singapore.
0:00:17 > 0:00:22The US dollar is on the rise, boosted by speculation the Federal
0:00:22 > 0:00:25boosted by speculation the Federal Reserve may get a new caucus chief.
0:00:25 > 0:00:33Let's cross over to Thailand where the funeral procession is underway.
0:00:33 > 0:00:37We are witnesses live pictures inside the grand Palace as the
0:00:37 > 0:00:51funeral proceedings for the late King Bhumibol has begun. Good
0:00:51 > 0:00:56morning, Asia. Hello, world. Glad you could join us. Anticipation over
0:00:56 > 0:01:03who might be head of the Federal Reserve is keeping the US dollar
0:01:03 > 0:01:07near its three-month high. President Trump has not said whether he will
0:01:07 > 0:01:13reappoint Janet Yellen, but has floated other possible contenders
0:01:13 > 0:01:22for the top job. We asked inexpert how this is impacting the markets.
0:01:22 > 0:01:27You could say there is a lot of speculation over US bank policy. If
0:01:27 > 0:01:33the Federal Reserve raise interest rates, but should weaken the Asian
0:01:33 > 0:01:37currencies. We have seen significant declines in the dollar over recent
0:01:37 > 0:01:42months. What we could be looking at is a technical correction. There are
0:01:42 > 0:01:47several other factors, economic data is strong, it looks positive for the
0:01:47 > 0:01:50dollar. Pressure in Asian currencies, pressures in matters
0:01:50 > 0:02:01like gold as well.A lot of factors to juggle. Let's take a look at
0:02:01 > 0:02:05President Jean Ping, a five-year term. Economic policies, what does
0:02:05 > 0:02:13this mean going forward?The conference itself hasn't meant that
0:02:13 > 0:02:16much in the near term. But there is so much uncertainty right now when
0:02:16 > 0:02:26you look at Catalonia, the ongoing EU negotiations. But the agenda has
0:02:26 > 0:02:30been on China.Everybody wants to find out over the next five years of
0:02:30 > 0:02:42the leadership, will we see a liberal?We could say China is
0:02:42 > 0:02:46moving forward with progress, liberalisation and prospects over
0:02:46 > 0:02:51the longer term look very good.In Japan it is a winning situation for
0:02:51 > 0:02:56investors. By week yen which benefits exporters and of course, we
0:02:56 > 0:03:01are seeing more than two highs for the Japanese stock market. Is it
0:03:01 > 0:03:07sustainable?We have seen weakness in the Japanese yen because of the
0:03:07 > 0:03:13strength of the US dollar. The Japanese yen remained negative over
0:03:13 > 0:03:19the near-term and it depends on whether investors look at the yen as
0:03:19 > 0:03:23a safe haven asset.Par from the US dollar, which other currencies do
0:03:23 > 0:03:31you favour?There is strength in the emerging markets. The expectations
0:03:31 > 0:03:37will probably put interest rates up in December. By the end of this year
0:03:37 > 0:03:41we could see a rebound in the emerging market currencies across
0:03:41 > 0:03:51Asia.US earnings season is underway. Coca-Cola is the latest to
0:03:51 > 0:03:57beat expectations. They reported earnings of 50 cents a share in the
0:03:57 > 0:04:02third quarter, operating revenues came in at just over $9 billion.
0:04:02 > 0:04:06Looking at those numbers, were helped by the relaunch of Coke zero
0:04:06 > 0:04:09in America as it looks to offer healthier, lower calorie drinks.
0:04:09 > 0:04:15Nike was a top performer on the Dow index overnight. Shares rising by 3%
0:04:15 > 0:04:21after the company gave an upbeat profit outlook for the next five
0:04:21 > 0:04:25years. Nike said it expects digital revenues to grow from 15 to 30% over
0:04:25 > 0:04:31that period. The firm is seeing strong sales in China, offsetting
0:04:31 > 0:04:38slow growth in the US. South Korea's economy has expanded at the fastest
0:04:38 > 0:04:45pace in seven years. GDP expanding by 1.4% beating the forecast by 0.8%
0:04:45 > 0:04:51gain. Due to a strong rise in exports and construction investment.
0:04:51 > 0:04:55Sometimes referred to as middle Earth, New Zealand is the hotspot
0:04:55 > 0:05:00for property buyers around the world, it is such an extent that New
0:05:00 > 0:05:07Zealand's Prime Minister elect has declared no more and is closing the
0:05:07 > 0:05:13gates. The country is banning foreign buyers purchasing homes in
0:05:13 > 0:05:18the country to cool soaring property prices. For the latest New Zealand
0:05:18 > 0:05:24properties, we are joined by my colleague. Who is buying them?A lot
0:05:24 > 0:05:29of people are buying, but who wouldn't want to loan a beautiful
0:05:29 > 0:05:34property on someone's site mountain Middle Earth, which is the vision of
0:05:34 > 0:05:44New Zealand people have thanks to the movies. But the Prime Minister
0:05:44 > 0:05:48elect has said no more, no more nonresidents buying property in New
0:05:48 > 0:05:53Zealand, because it has led to a huge housing crisis and soaring
0:05:53 > 0:05:58prices as well. You mentioned who is buying. It is the Chinese, the
0:05:58 > 0:06:05largest buyers of property in New Zealand. New have in Australia, they
0:06:05 > 0:06:11are coming over and buying property. We have a lot of tax residents like
0:06:11 > 0:06:16the UK, the US and Hong Kong also buying. Lots of reports saying hedge
0:06:16 > 0:06:23fund menaces are snapping up things like farms and airstrips even. Even
0:06:23 > 0:06:26silicon valley futurists, who are preparing for Doomsday, would you
0:06:26 > 0:06:33believe, buying real estate in New Zealand. Who can forget the surge on
0:06:33 > 0:06:39the New Zealand immigration website just after Donald Trump's election,
0:06:39 > 0:06:44by Americans trying to go there in droves to settle there instead. This
0:06:44 > 0:06:51ban is essentially follows housing prices have escalated, according to
0:06:51 > 0:06:56experts they are up 10% in New Zealand in the last year. There is a
0:06:56 > 0:06:59shortage of housing stock and the low interest rates. This led to a
0:06:59 > 0:07:05huge rush to buy property there. Also, frightening statistics that
0:07:05 > 0:07:14Kiwis now own only a quarter, of Kiwis owned their own property
0:07:14 > 0:07:19versus 50% in 1991. There is a lot of concern this is leading to a
0:07:19 > 0:07:28housing crisis and hence this move by the new Prime Minister elect.A
0:07:28 > 0:07:32lot of speculation in property prices in the South Pacific urges.
0:07:32 > 0:07:37Thank you very much. We return to Bangkok and the funeral proceedings
0:07:37 > 0:07:46of the late King Bhumibol Adulyadej, has begun. You are now looking at
0:07:46 > 0:07:57live pictures inside the grand Palace. We can see the Royal family
0:07:57 > 0:08:03in attendance. For the latest, let's go to Jonathan head who is on the
0:08:03 > 0:08:12ground. Jonathan, what are the scenes there around the palace?
0:08:12 > 0:08:19Right around the central area, this grassy area, where they built this
0:08:19 > 0:08:29very elaborate complex pavilions. There are crowds stretching along
0:08:29 > 0:08:35the roads coming in. Ordinary traffic has been blocked. Possibly
0:08:35 > 0:08:37hundreds of thousands inside the central area. These people are
0:08:37 > 0:08:42waiting for a chance to get in. Although that seems very unlikely.
0:08:42 > 0:08:48These lines stretch too far. A lot of people just wanting to be here.
0:08:48 > 0:08:53When the moment comes when the king is cremated later tonight, they will
0:08:53 > 0:08:56all be together and they will share the moment when they are told it is
0:08:56 > 0:09:02happening. Inside, this is inside the royal palace, the King's body
0:09:02 > 0:09:07has been moved. So there is this separation of the actual body of the
0:09:07 > 0:09:11King. He didn't want to be put in the traditional earn. He wanted to
0:09:11 > 0:09:21be laid out in the Coffin, but it is said to reside in this Kotze, that
0:09:21 > 0:09:28has been blessed. There are Buddhist rituals with monks. It is blessed
0:09:28 > 0:09:35before it is moved and is carried in this three possessions today.
0:09:35 > 0:09:41Carried to a carriage, the carriage weighs 14 tonnes. Then in a slow
0:09:41 > 0:09:45possession to the cremation site, it is then transferred to another gun
0:09:45 > 0:09:49carriage and goes round the cremation pavilion. It is very
0:09:49 > 0:09:56ornate. The actual pavilion, it is meant to represent the mythical
0:09:56 > 0:10:01Hindu universe, centred with lots of mythical creatures around and they
0:10:01 > 0:10:08are all supposed to assist King Bhumibol's a sense, as they see it,
0:10:08 > 0:10:16back to heaven.Jonathan head live from the is Bangkok. We witness live
0:10:16 > 0:10:19pictures inside the grand Palace as the funeral proceedings begin with
0:10:19 > 0:10:26the Royal family for the late King Bhumibol Adulyadej. Thank you so
0:10:26 > 0:10:35much by joining us. Goodbye for now.