Bitcoin falls beneath $16,000 to lowest since Nov. 2020 as FTX saga continues
CNBC Professional: UBS says disinflation is on the way in which — and shares 8 world shares to play it
Swiss financial institution UBS has forecasted a “sharp” disinflation in 2023.
It mentioned weak progress alongside “mechanical” indicators, resembling easing provide chain bottlenecks and rising items inventories, would see costs fall subsequent yr.
The funding financial institution screened for shares that might profit from such an atmosphere.
CNBC Pro subscribers can read more about their forecasts, and eight shares we have highlighted from their checklist.
— Ganesh Rao
Chinese language property shares in Hong Kong surge after report on supportive measures
Shares of Chinese language property builders listed in Hong Kong surged on the open following a neighborhood media report that quite a few further measures can be launched to help the actual property market’s restoration.
Cifi Holdings rose 29.84%, Country Garden jumped 32%, Logan Group rose 38%, and Longfor Group jumped 22% early within the session, buoying the broader index.
The report mentioned there can be monetary help for actual property offers and initiatives, together with mortgage extensions to builders.
These measures “could generate notable market reactions with out dramatically altering the present financial fundamentals,” Goldman Sachs economists mentioned of the report in a Monday be aware.
—Jihye Lee
SoftBank shares tank greater than 11% after Imaginative and prescient Fund stories losses
Shares of tech big SoftBank Group plunged practically 12% in Japan’s morning session after Imaginative and prescient Fund, the corporate’s tech funding automobile, reported a loss of 1.38 trillion yen ($9.88 billion) for the quarter ending on Sept. 30.
“Share costs of quite a few public portfolio firms declined amid the weak point in world inventory markets, and the truthful worth of a variety of personal portfolio firms additionally decreased,” SoftBank mentioned in its newest monetary report.
SoftBank reported a internet revenue of three.03 trillion yen after two quarters of losses.
— Abigail Ng
CNBC Professional: One retail inventory simply hit an all-time excessive — and Financial institution of America thinks it is obtained additional to go
This yr’s bear market has wiped trillions of {dollars} in market cap off the inventory market, however a number of shares have outperformed considerably throughout this era.
Financial institution of America recognized three retail shares that bucked the pattern, and says one stays a purchase.
Professional subscribers can read more here.
— Zavier Ong
Grasp Seng index closed on Friday at highest since March 16
The Hang Seng index in Hong Kong closed its session final Friday 7.7% larger, seeing its finest day since March 16, when the index rose 9.08%.
On a weekly foundation, the index rose 7.2% as China eased Covid measures, after seeing a achieve of 8.73% the earlier week on rumors of China’s reopening plans.
The index is up virtually 18% month-to-date and may submit its finest month-to-month efficiency since April 1999, when the Grasp Seng index gained 21.85%.
— Gina Francolla, Jihye Lee
