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Asian Markets End Lower; Earnings in Focus

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

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

Shares in the Hong Kong Exchange retreated today - after the bourse's chairman conceded he's concerned about the potential merger of the Australian Securities Exchange and the Singapore Exchange.

Ronald Arculli has told the Wall Street Journal, the deal could lead to losses of new listings in Hong Kong.

He also said past stock exchange mergers have shown mixed success.

The tie up could still be a long way off though, with political opposition downunder threatening to derail the deal.

Reports in The Age newspaper suggest Canberra may be planning to remove clearing and settlement functions from the ASE - transferring those powers to the Reserve Bank of Australia, to protect the country's payments infrastructure.

But Australian Treasurer Wayne Swan says he won't speculate on the outcome of the deal.

(SOT) Wayne Swan, Australian Treasurer:

“This is an important process, I don't speculate about its outcome. But what I do is methodically work through the assessments which are provided to me by the Foreign Investment Review Board which in turn talks to other regulators. I assess all of that material, and then I take a decision in the national interest. That's the way I've operated since I became treasurer, I take my responsibilities under that act very seriously and I do believe the national interest test is one that has served this country well.”

China's commerce minister has lashed out at the US, calling its dollar issuance "out of control".

Speaking at a trade fair in Southern China, Chen Deming urged America to stop printing money.

Deming said Chinese exporters have been coping well with a stronger Yuan and rising labor costs.

But he said "China is being attacked by imported inflation" - because of rising commodities prices as a result of U.S. quantitative easing.

It's the most explicit criticism so far by a Chinese official against U.S. monetary policy.

However, industry experts say the warning will fall on deaf ears.

(SOT) Mark Daniell, Chairman, The Cuscaden Group:

“I think the United States is going to start printing money, the United Kingdom is going to start printing money, I think the Euro has major issues that it needs to address with the potential default down the road of some of the PIGS, the Portugal, Italy, Greece, Spain. Ireland also is going to be under pressure. So I think the major currencies are in difficulty, and at least two of them are going to start printing money.”

But we can expect to hear more from China.

Mark Dan-yell of the Cuscaden Group also said a major power shift is already underway.

(SOT) Mark Daniell, Chairman, The Cuscaden Group:

“I think there is a long term erosion of the role of the United States in the global economic policy and in global political standing. What we're seeing I believe is a long term reversion, to mean. China has been the world's largest economy for most of the last 4000 years. They kind of missed the industrial revolution, but they're making up for it at an accelerating rate. So we will see, I believe China asserting its role as a preeminent authority in the world economic matters over the coming decades. And all that means in terms of creating a multi polar world. And in that the United States will have less authority of all kinds.”

Meantime, a member of China's monetary policy committee has told the Financial Times that the U.S. and China have reached the basis for an agreement, on targets to cut trade imbalances at the G20 summit next month.

Li Dao Kui said talks at the finance ministers' meeting last weekend had moved the issue of exchange rates - to concrete more on measures to rebalance world trade.

Washington had proposed targets to reduce imbalances, but finance ministers could not come to an agreement.

On to China's booming property sector. Kaisa Group is looking at the positives of recent Government measures to cool the overheated market - saying it will speed up consolidation, and weed out the weak players.

The leading developer is focusing on second tier cities - riding on the urban redevelopment opportunities in Shenzhen and Pearl River Delta.

The company specializes in large-scale residential developments - and is currently working on 33 projects in 10 different cities.

Kaisa's Vice Chairman, L.L. Tam has told CNBC - demand is still very strong, despite the government's austerity measures.

(SOT) LL Tam, Chairman, Kaisa Group Holdings:

“ I think you know if you look at it in China, there's a huge topic on urbanisation and so forth. So we are doing everything in line with the Government policy and that's the reason we record very strong sales in the first nine months of the year. Depending on the demographic of the cities, I think for example Chengdu we only focus on the mass market for the time being and it really pays off because of the, again, the end user demand.”

To news Chinese chemicals firms will be watching closely. Canadian fertilizer maker Potash is stepping up its fight against BHP Billiton's 39-billion dollar takeover - filing an amended complaint in its lawsuit against the Aussie miner.

As BHP tries to convince authorities that its bid for Potash will benefit Canada - it's biggest shareholder is trying to convince BHP that it needs a different financial strategy.

Blackrock - which is a 10 percent shareholder in BHP - says the stock continues to be undervalued, and that it would benefit from yearly share buy-backs or a special dividend to shareholders.

(SOT) Catherine Raw, Blackrock, Director & Portfolio Manager:

“I think it's something we've talked to them over the years about. I think there were reasons why not to do it earlier in the year with the mineral resources tax, not knowing for sure how that was going to settle. But yes I think now that the balance sheet is so strong, and even if the Potash deal goes through, the cash flow generations of these [mining] companies is so strong, that shareholders need to start seeing some of that excess cashflow coming back to them.”

And Catherine Raw of Blackrock also said she doesn't believe BHP needs to raise its offer for Potash - because it's yet to see any rival bids.

(SOT) Catherine Raw, Blackrock, Director & Portfolio Manager:

"The first step I think has to be are they going to get approval from the Canadian authorities. So until that happens I believe that's the third of November that we get that statement, then I don't believe they need to do anything. At that point, when they know what conditions are going to be applied to the bid, what else they have to do in order to get the authorities to agree. At that point they can consider their options."

That's the latest Asia business news.

I'm Saijal Patel from CNBC enjoy your night.

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