January 27, 2023

Asia Pacific Markets, Federal Reserve, Wall Street, Apple, Tesla, Japan PMI

China’s technology, healthcare and real estate lead gains in Hong Kong

Hong Kong-listed Chinese technology and healthcare shares led the gains in the Hang Seng Index, along with real estate shares in Wednesday’s trading session.

Country Garden Services And the Longfor group Both saw the biggest gains, both up about 10% in Wednesday afternoon trading. Alibaba Health Information Technology It also rose by 8.87% and Hanso Pharmaceutical Group by 7.42%.

Baidu rose 6.97% and Ali Baba It rose 6.88% after trading Ant Receive approval To expand consumer financing business. netease Shares rose 5.23% in afternoon trading.

– Jihe Lee

Gold prices rose after hitting their highest level in 6 months

Gold prices rose after that Achieved the highest level in six months In anticipation of the last minutes of federal politics.

spot gold Prices rose 0.36% to $1,845.93 an ounce during Asia and US market hours. Gold futures It increased by 0.35%, to $1,852.10.

Gold prices have been on a general rise since the beginning of November on the back of expectations of a deepening recession and gold purchases from central banks.

– Elliott Smith, Lee Ying Chan

Oil prices fall ahead of the Federal Reserve meeting, and the possibility of Saudi Arabia cutting oil prices in Asia

Oil prices fell as traders looked to the Fed’s meeting minutes and weighed Saudi Arabia’s considerations to reduce prices for its Arab Light crude oil to Asia next month. Reuters mentioned.

The report said that Saudi Aramco is weighing the reduction in medium pH at about $1.50 per barrel.

Brent Crude Futures It fell by 0.16%, to $81.97 per barrel. Similarly, the West Texas Intermediate USA It lost 0.34%, to $76.67 a barrel.

– Lee Ying Chan

Alibaba shares rose after the Ant Group received approval for the capital plan

Hong Kong-listed Alibaba shares rose 7.11% in morning trade Wednesday — after the China Banking and Insurance Regulatory Commission approved a plan to expand the capital of Ant Group for its Chongqing-based consumer financial unit.

according to A notice was posted last weekIn February, Chinese regulators gave the green light to billionaire fintech firm Jack Ma to raise 10.5 billion yuan ($1.5 billion).

Ant group is A subsidiary of Alibaba in which the e-commerce giant owns 33%. Ant Group operates Alipay’s mobile payments wallet in China. Alibaba shares rose 2.78% on Tuesday, in the first trading session after the notice was posted.

Other companies named in the notice include Hangzhou Jintou Digital Technology Group, Nanyang Commercial Bank, Zhejiang Sunny Optical, and China Huarong Asset management.

Signs of approval in progress State-led regulatory reform financial technology giant.

– Jihee Lee, Evelyn Cheng

CNBC Pro: Analysts See These 10 Global Renewable Energy Stocks Rising Despite Rising Rates With Rally Over 50%

Skyrocketing energy costs have spurred investment in renewable energy around the world.

Swiss investment bank UBS has named 10 leading renewable energy players to capitalize on this trend and are set to outperform over the next year.

CNBC Pro subscribers can read more here.

– Ganesh Rao

Manufacturing activity in Japan posted its weakest level in more than two years

the au Jibun Bank Flash Japan Manufacturing PMI December recorded a reading of 48.9, marking the second consecutive month in contraction territory.

The reading eased from 49.0 for November, and represented the weakest number since the October 2020 figure of 48.70.

The report stated that the continuing contraction in production is due to “weak global economic trends.”

– Lee Ying Chan

CNBC Pro is examining low-volatility stocks amid fears of a bumpy road ahead

Stock markets have had a terrible 2022 as major indexes posted their worst performance in over a decade.

Market professionals warn investors Bumpy times aheadCNBC Pro used FactSet data to examine low-volatility stocks that not only beat the market in 2022, but are expected to rise further this year.

Professional subscribers can Read more here.

– Xavier Ong

Tesla suppliers in Asia retreat after delivery report

Tesla’s suppliers fell into Asia after that mentioned Vehicle production and delivery figures in the fourth quarter of 2022 which fell short of expectations.

The deliveries report showed a total of 405,278 deliveries for the quarter and 1.31 million deliveries for the year, which is below expectations of seeing about 427,000 deliveries for the fourth quarter of the year.

Japan Panasonic It lost 1.82% in early Asian trade – LG Chem in South Korea fell 0.17% in the previous hours and Samsung SDI fell about 2%.

Shenzhen listed stock Contemporary Amperex technology, or also known as CATL, fell 1.7%. Tesla shares closed down 12% Tuesday on Wall Street.

– Ashley Cabot, Jee Lee

CNBC Pro: Wall Street bullish on this chip giant, with Morgan Stanley giving it a 55% rally

The once-hot chip sector has struggled in 2022, but Wall Street appears to be becoming more bullish on semiconductor stocks for the year ahead.

Recently, many professionals have urged investors to Take a long-term view of the sectorDue to the importance of chips in many major secular directions.

Analysts have named one stock in particular as bullish, citing its earnings potential and future profitability.

CNBC Pro subscribers can read more here.

– Wizen tan

Most Apple suppliers in Asia are rising despite reports of production cuts

The US manufacturing PMI fell at the fastest rate since May 2020

The US manufacturing price managers’ index, a measure of output, fell at the fastest rate in December since May 2020, according to S&P Global.

The index stood at 46.2 in December, down from 47.7 in November, according to data released on Tuesday. The impact of lower prices and shrinking production levels on the index. Additionally, December saw a more-than-expected decline in new sales, with companies noting uncertainty due to the economic backdrop.

– Carmen Renick

Tesla is down 13%, hitting a 52-week low

The stock is down more than 13%, hitting levels not seen since August 2020. The slide comes from the worst annual performance for the stock – Tesla is down 65% in 2022.

– Carmen Renick

Apple’s market value drops below $2 trillion

Sale in an Apple The shares pushed the iPhone maker’s market value below $2 trillion on Tuesday.

Shares fell 4% on news that production was being cut in some items due to weak demand. Concerns about iPhone supplies have mounted over the holiday period in recent weeks and pressured stocks as lockdowns spread through Apple’s main supplier in China.

The decline in stocks contrasts a year ago, when Apple was It became the first US company to reach a market capitalization of $3 trillion.

Apple was the latest of the huge tech stocks to hover above the $2 trillion mark.

– Samantha Sobin

Goldman Sachs says the US will avoid a recession in 2023

Goldman Sachs has out of consensus forecasts for the US economy in 2023.

“Our economists continue to believe that the US will avoid a recession as the Federal Reserve engineers a soft landing for the economy,” analysts wrote on Tuesday.

“These out-of-consensus projections partly reflect our view that a period of below potential growth is sufficient to gradually rebalance the labor market and ease wage and price pressures,” the note said. “But it also reflects our analysis that the decline in fiscal and monetary policy tightening will contract sharply next year, contrary to the consensus view that the delayed effects of higher interest rates will lead to a recession in 2023.”

In addition, the Bank today raised its forecast for Q4-22 GDP growth by 10 basis points to +2.1% on the back of the surprisingly strong release of construction spending in November.

“The disconnect between the resilience of the US economy in 2022 and the short decline in equities has been a major narrative in the past year,” Goldman said. “Whether this decoupling persists, or if the economy aligns with the direction of the market, or whether the market rebounds in the wake of an economic soft landing may be at least part of the story of 2023.”

– Carmen Renick