Factory activity in China falls short of expectations, signing contract for second month in a row
China’s official manufacturing purchasing managers’ index was 48 in November, below the 50 points that separate growth from contraction.
That was below the forecast of 49 by analysts polled by Reuters. His PMI for October was 49.2.
PMI measurements are continuous and represent month-to-month changes in factory activity.
— Abigail Ng
Australian monthly inflation indicator shows slight slowdown
Australia’s consumer price index slowed to 6.9% on an annualized basis in October from 7.3% in September, according to the Australian Bureau of Statistics Monthly Index.
Higher prices for housing, food, non-alcoholic beverages, and transportation boosted the overall CPI index.
Bilibili Stocks Soar in Asian Morning Session
Hong Kong listed stock Bilibili Asia jumped as much as 12.7% in the morning after the company beat its earnings forecast for the third quarter of this year.
Net revenue was CNY 5.79 billion ($809.8 million), an increase of 11% over the same period in 2021.
Net loss narrowed to RMB 1.7 billion, and average monthly active users increased by 25% on an annualized basis.
The company’s U.S. listed shares Hong Kong stocks surged 22% last night, after last gaining 8.47%.
— Abigail Ng
South Korea and Japan industrial production statistics worse than expected
Korean and Japanese industrial production each fell in October.
According to a Reuters poll, preliminary figures for industrial production in Japan fell 2.6% from the previous month in October, beating expectations of a 1.5% decline.
It was the second straight year of decline, following a 1.7% drop in the previous month.
South Korea’s industrial production also fell 3.5% from a month ago, also below expectations of a 1% decline. It was the lowest since May 2020, when production fell by 6.7% for him.
– Lee Ji Hye
China factory activity expected to contract for second straight month
Analysts polled by Reuters expect China’s official manufacturing purchasing managers’ index to stand at 49 in November, below the 50 point that separates growth from contraction.
This is slightly lower than the 49.2 reading reported in October.
PMI measurements are continuous and represent month-to-month changes in activity.
— Abigail Ng
China says it is ‘watching closely’ virus developments when asked about policy changes
When asked whether the protests in the region would lead to a change in the country’s zero-coronavirus policy, Chinese health officials said they were “watching closely” the developments of the novel coronavirus.
“China has been tracking and watching the virus closely as it evolves and mutates,” the official said, according to a translation of Tuesday’s briefing.
– Christine Wang, Evelyn Chen
CNBC Pro: Goldman Sachs’ Curry says oil stocks are trading ‘well below’ long-term trends
Jeff Curry, global head of commodities research at Goldman Sachs, told CNBC that historically, oil stocks have traded at a much higher premium to oil prices than at current levels. Told..
for example, SPDR Oil & Gas ETF When ICE Brent Crude Oil The futures contract was around $66.60 on Tuesday. As the chart below shows, this is significantly lower than his $104 gap recorded in early January 2017, according to Koyfin data.
China announces measures to boost vaccination of the elderly
According to a notice posted on the website of the National Health Commission, Chinese health authorities have announced plans to promote vaccination among the elderly.
Hong Kong listed stock Canshino Biologics It went up in the afternoon session and jumped 18% immediately after the announcement.
The notice says authorities should use multiple data points to pinpoint target groups for vaccination among older adults.
CNBC Pro: If Wall Street turns bearish, these margin growth stocks could be safe bets
Wall Street pundits are concerned about the outlook for stocks, urging investors to stay on the defensive. These stocks with growing margins can be safe bets.
Pro subscribers can read more here.
— Xavier Ong
Nasdaq and S&P 500 record 3rd day of decline
of Dow Jones Industrial Average It closed 3.07 points, or 0.01% higher. The index ended the day at 33,852.53.
on the other hand, NASDAQ Composite It closed 0.59% lower at 10,983.78. T.S&P 500 It fell 0.16% to close at 3,957.63.
— Alex Haring