China’s manufacturing unit exercise misses expectations, contracts for a second straight month
China’s official manufacturing Purchasing Managers’ Index for November got here in at 48, under the 50-point mark that separates progress from contraction.
That is decrease than the expectations of analysts polled by Reuters, who predicted a studying of 49. October’s PMI was 49.2.
PMI readings are sequential and characterize month-on-month modifications in manufacturing unit exercise.
— Abigail Ng
Australia’s month-to-month inflation indicator reveals slight slowing
Australia’s shopper worth index for October slowed to six.9% on an annualized foundation, from 7.3% in September, in keeping with a monthly indicator by the Australian Bureau of Statistics.
The rise in costs for housing, meals and non-alcoholic drinks, in addition to transport led the general CPI indicator larger.
Bilibili shares pop in Asia morning session
Hong Kong-listed shares of Bilibili popped as a lot as 12.7% in Asia’s morning after the corporate beat revenue estimates for the third quarter of the year.
Internet income got here in at 5.79 billion Chinese language yuan ($809.8 million), 11% larger than the identical interval in 2021. Estimates from Refinitiv Eikon predicted income of 5.52 billion yuan.
Internet losses narrowed to 1.7 billion yuan, and common month-to-month energetic customers grew 25% on an annualized foundation.
U.S.-listed shares of the company soared 22% in a single day, whereas the Hong Kong shares had been final up 8.47%.
— Abigail Ng
South Korea, Japan industrial manufacturing information is available in worse than anticipated
South Korea and Japan’s industrial manufacturing every noticed declines for the month of October.
Japan’s preliminary industrial production for October declined 2.6% in comparison with a month in the past, greater than expectations of a decline of 1.5%, in keeping with a Reuters ballot.
The studying marks the second consecutive decline after seeing a fall of 1.7% the earlier month.
South Korea’s industrial production additionally fell by 3.5% in contrast with a month in the past, additionally decrease than expectations of a decline of 1%. The studying marked the bottom since Could 2020, when output declined 6.7%.
– Jihye Lee
China’s manufacturing unit exercise anticipated to contract for a second straight month
China’s official manufacturing Buying Managers’ Index for November is anticipated to return in at 49, under the 50-point mark that separates progress from contraction, in keeping with analysts polled by Reuters.
That is barely decrease than the studying of 49.2 reported in October.
PMI readings are sequential and characterize month-on-month modifications in exercise.
— Abigail Ng
China says it’s ‘carefully watching’ virus developments when requested about shift in coverage
Chinese language well being authorities stated that officers are “carefully watching” the developments of Covid when requested if protests within the area would result in shifts in its zero-Covid coverage.
“China has been following and carefully watching the virus because it evolves and mutates,” officers stated, in keeping with a translation of Tuesday’s briefing.
– Christine Wang, Evelyn Cheng
CNBC Professional: Goldman Sachs’ Currie says oil shares are buying and selling ‘far under’ their long-term pattern
Goldman Sachs’ International Head of Commodities Analysis Jeff Currie informed CNBC that traditionally, oil shares have traded at a a lot larger premium to crude oil costs in comparison with present worth ranges.
As an example, the value hole between SPDR Oil & Gas ETF and ICE Brent Crude futures contract was about $66.60 on Tuesday. That is considerably decrease than the $104 hole recorded in the beginning of January 2017, in keeping with Koyfin information, because the chart under reveals.
China proclaims measures to spice up aged vaccination
China’s well being authorities released a plan to spice up aged vaccination, in keeping with a discover on the Nationwide Well being Fee’s web site.
Hong Kong-listed shares of CanSino Biologics prolonged positive factors within the afternoon session and rose as a lot as 18% shortly after the announcement was posted.
The discover stated authorities ought to use a number of information factors to precisely establish goal teams for vaccination for the aged.
CNBC Professional: As Wall Avenue will get bearish, these shares with margin progress could possibly be secure bets
Wall Avenue professionals are anxious in regards to the outlook for shares, and are urging buyers to remain defensive. These shares with margin progress could possibly be secure bets.
Professional subscribers can read more here.
— Zavier Ong
Nasdaq and S&P 500 publish third day down
The Dow Jones Industrial Average closed 3.07 factors, or 0.01%, larger after buying and selling down for a lot of the day. The index ended the day at 33,852.53.
— Alex Harring