Most stocks are down in the Asia-Pacific region, and Tokyo’s inflation rate is at a 40-year high; US markets are closed

Hong Kong movers: Casinos, tech stocks fall as case numbers rise in China

Hong Kong-listed stocks related to reopening and technology fell in the morning Asian session after reports of an increase in COVID-19 cases in China.

Casino operator shares MGM China decreased more than 4%, Where is Macau? lost 2.5%, China Sands decreased by 3% and SJM Holding It also lost 2.7%.

Technology stocks such as Tencent It also fell by more than 3% in the morning session, Mitwan lost 3.17% and Bilibili fall by 4.36%.

– Jihe Lee

Core inflation in Tokyo is at its highest level in 40 years

Tokyo’s core consumer price index rose 3.6% in November year on year, more than the 3.5% expected in a Reuters poll.

The report represents the fastest annual pace Japanese capital has seen since April 1982, and well above the Bank of Japan’s inflation target of 2%.

The capital reading indicates that the rising inflationary pressures have not yet been tamed. Nationwide inflation is hovering around similar historical levels.

– Jihe Lee

CNBC Pro: The Superior Asset Manager Picks Stocks That Will Win as Margins Shrink

Patrick Armstrong, chief investment officer at Plurimi Wealth, believes margin pressure is the “biggest risk” to the stock. But he thinks some stocks could buck the trend.

“Own sectors with defensible profit margins or that create margin pressures elsewhere,” he added, indicating which sectors and stocks he favors.

Professional subscribers can read more here.

– Xavier Ong

CNBC Pro: UBS says recession in 2023 will be an inch deep but a mile wide — and that’s not being priced in stocks

Global economic conditions will change in the coming year, and that will change markets and sectors that have been underperforming, according to the chief strategist at investment bank UBS.

“It’s an inch deep, but it’s a mile,” he said of the expected slump. “Global growth is 2% and that doesn’t count towards equities,” Bhanu Baweja told CNBC’s “Squawk Box Europe” on Wednesday.

It also identified sectors that are expected to outperform next year.

CNBC Pro subscribers can read more here.

Jenny Reed

Malaysian stocks rose after the announcement of the Prime Minister’s State Palace

Listed Malaysian stocks closed higher on Thursday after the state palace announced Anwar Ibrahim as prime minister.

pointer KLCI Index It closed 4.04% higher after the previous negative sessions, ending the session at its highest level in more than two months.

Shares of telecoms group Axiata Group Bhd rose more than 12% and Maxis Bhd climbed 11%. Genting Malaysia rose nearly 8% and rubber glove manufacturer Top Glove also rose 8% in the afternoon session.

The Malaysian ringgit rose slightly against the US dollar, last settling at 4.5080.

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