Asia Ends in the Red, Tokyo Stocks Fall 1.1%

This is a transcript of top stories presented by China's CCTV Business Channel as produced by CNBC Asia Pacific.

Hello to all of our viewers across China.

I'm Saijal Patel from CNBC and you're watching “Asia Market Daily”.

Most of the key Asian markets edged lower today - following a slump on Wall Street.

KOSPI slipped a quarter of a percent - while Japan's Nikkei lost just over 1 percent - amid speculation the Bank of Japan may ease monetary policy further next week.

Takefuji shares remain suspended as bankruptcy rumors continue.

The Shanghai market was also in the red in late trade.

Shares in China's third largest port operator - Ningbo Port - sank below its IPO price of 3.72 Yuan on debut.

In Australia, the ASX 200 finished just a touch weaker - with gains in banking stocks helping to offset heavy falls from the miners.

BHP Billiton was in focus, with a US judge to hear Potash's motion for an injunction - aimed at blocking BHP's hostile $39 billion takeover offer - on November 4.

BHP says it's happy with the court date, because it's well before the scheduled November 18 expiration deadline for the offer.

Still on mining, China's biggest aluminum producer is continuing its expansion to other metals.

Aluminum Corp of China - or Chinalco - is taking a majority stake in 'Jiangxi Rare Earth and Rare Metals Tungsten Group'.

It's pledged to pump at least $1.5 billion into the rare earth miner - to help it develop deposits over the next 3 to 5 years.

And as we record this bulletin, GOME shareholders are voting on whether to oust the company's chairman.

Jailed tycoon and GOME founder Huang Guan has proposed the sacking of chairman Chen Xiao -- while installing his sister to the board.

GOME management argues the founder is not acting in shareholder's interests.

The management has been helped by Bain Capital — which owns a 10% stake.

Peter Lai of DBS Vickers Securities says even before the decision, the stock had been trading in a wide range.

(SOT) Peter Lai, Director, DBS Vickers Securities:

“There are uncertainties, because after all the fluctuation of the GOME in the past months is very high. Reaching from two dollars to two and 60. And it really depends on the news.”

In other corporate news, Air China is planning to expand its international routes placing an order for four more Boeing 777s - with a price tag of $1.1 billion.

Rival China Airlines on the other hand, has pleaded guilty to price fixing, and has agreed to pay a $40 million fine.

According the U.S. Justice department, the airline was part of a cartel that set prices for international air cargo shipments between 2001 and 2006.

The carrier is the 18th airline to admit its guilty of price fixing.

Meantime, as the international tension between China and the US worsens, Japanese Finance Minister Yoshihiko Noda has weighed into the Yuan debate.

Noda says he expects China to keep allowing its currency to rise steadily.

And Jing Ulrich from JPMorgan Securities agrees - saying she's "not expecting anything drastic in the very near term".

(SOT)Jing Ulrich, Managing Director & Chairman, China Equities, JPMorgan Securities:

“So I think the Premier was absolutely right in saying that if the RMB were to appreciate 20% immediately it would generate huge amounts of social unrest, and I agree with that. So we need to keep a more longer-term view basically on China's currency movements. Over the medium to long term, I think the currency will appreciate. But the West needs to have some patience with China, given China's huge complex economic and social environment.”

And Asian sovereign debt is in focus, after the world's leading bond investment firm - Pimco - revealed it's making a heavy push into the region.

Pimco's Douglas Hodge has told CNBC's Martin Soong - emerging economies are looking the most attractive.

(SOT) Douglas Hodge, COO, Pimco:

“What we observe is that the global economy is basically on a two track or twin speed process. The developed countries are still facing enormous headwinds. Whereas the emerging world is actually in much better position to generate growth. And you look back at the initial conditions and the initial conditions both coming out of the crisis and today are very different for the developed economies versus the growth economies or the emerging world. So we're investing in the emerging world, the countries we're looking at are right here in Malaysia, Indonesia, pretty much across the region.”

Also making headlines in the region ailing North Korean leader Kim Jong Il has been reappointed, during the country's biggest political meeting in decades.

The announcement came just hours after Kim Jong Il elevated his son to a general, paving the way for Kim Jong Un to succeed his father as the head of state.

A change of pace now, fine art and unexpected keepsakes will go under the hammer in London tomorrow - as fallen bank Lehman Brothers continues to raise money to pay off its creditors.

CNBC's Louisa Bojesen takes a look at some of the stranger pieces on offer.

(Package starts)

What was once the sign of one of the most prestigious players on Wall Street has become a symbol of the most infamous collapse of the banking crisis.

The office sign is one of the many pieces of Lehman Brothers artwork and valuables that are being auctioned off at Christies in London. Administrator PricewatwehouseCoopers estimates the sale could bring in as much as 2 million pounds, and I can only touch it if I wear gloves.

So what can you get your hands on?

(SOT) Will Porter, Christie’s:

"This is the highlight of the sale, and indeed the front cover of the catalogue. And this is a picture of the New York Stock Exchange. And it's estimated about $100-$150 thousand."

Or how about some melon balls? That's the name of this piece of artwork right here. Estimated value, somewhere in the region of three to five thousand pounds. And if you look really closely, look at this, it's made up by jigsaw puzzle pieces. It makes you want to pick them all apart.

This is my personal favorite, it is called Trying, estimated value somewhere in the region of three to five thousand pounds. Who would have thought a picture of a woman trying to get onto a very large elephant in the mud with a handbag would have been hanging at Lehman Brothers.

But if the sale makes the 2 million pounds hoped for, will it really make a difference to Lehman's massive debt? I asked PriceWaterhouseCoopers.

(SOT) Barry Gilbertson, PriceWaterhouseCoopers:

"We are expecting to realize something around a million pounds for this artwork. But of course that's just a drop in the ocean compared to the huge size of the debt. But what's really important. Is that the creditors get to see that we are trying to raise every single penny that we can in order to increase their dividend over time. But while many art collectors will leave the auction happy, Lehman's creditors will have to wait a little longer for their pay day.”

And that brings you up to date with all the latest Asia business news.

I'm Saijal Patel from CNBC, enjoy your night.

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