Asian Stock Markets Today: Live Updates

4 hours ago

China’s industrial profits see soft decline in August

For the first eight months of the year, Profitability in China’s industrial enterprises Double-digit declines extended, but the pace of declines slowed slightly in August.

Profits fell 11.7% in the year to August, a smaller contraction than the 15.5% fall in the first seven months.

China’s National Bureau of Statistics said profits of industrial firms rose 17.2% year-on-year in August, the first monthly growth since the second half of 2022.

– Lim Hui Jee

6 hours ago

Bank of Japan members were split on when to raise interest rates at their July meeting

Japan’s central bank board is divided on when the Bank of Japan should start raising interest rates, according to its minutes. Monetary policy meeting in July.

This was in light of inflation, then 15 months above the BOJ’s 2% inflation target.

“There is still a considerable distance to go before revising the negative interest rate policy and maintaining the framework of yield curve control,” said one member.

However, another member noted that the achievement of 2% was “clearly visible” in a “steady and steady manner” and could assess whether the BOJ would achieve this target from January to March next year. .

– Lim Hui Jee

6 hours ago

CNBC Pro: Shares of this cutting-edge British chip designer could rise more than 100%, says Jefferies

6 hours ago

Hong Kong trade sees a slight decline in August

Commerce of Hong Kong August fell at a slower rate, with imports and exports falling 0.3% and 3.7% year-on-year, respectively.

This compares with a 7.9% drop in imports and a 9.1% drop in exports in July.

Total trade for August was 742.18 million Hong Kong dollars, down 2% year-on-year.

– Lim Hui Jee

6 hours ago

CNBC Pro: Forget India: One portfolio manager bucks trend, says another market offers ‘enormous value’

India’s growth prospects have seen many investors and big-name banks turn bullish on the country, but portfolio manager Kamil Dimmich says he is clearly leading the way.

“We may be in the minority here [and] We don’t mind being a minority,” Dimmich, who hails from the northern part of the southern capital, told CNBC Pro Talks last week.

Instead, he singled out an emerging market he says offers “tremendous value” with two of his favorite stocks.

CNBC Pro subscribers can read more here.

– Amala Balakrishna

7 hours ago

CNBC Pro: ‘I Believe in the Industry’: Investing in K-Pop? Bernstein is a fan of this role

15 hours ago

The Dow falls below its 200-day moving average

Tuesday’s selloff pushed the Dow Jones Industrial Average below its 200-day moving average, a key long-term technical level. This move suggests that the benchmark’s long-term momentum may be slowing.

The Dow hasn’t closed below that level since May.

– Fred Imbert

16 hours ago

The S&P 500 fell below 4,300 for the first time since June 9

All three major indices accelerated losses on Tuesday morning after the release of disappointing economic data.

The S&P 500 fell roughly 1% to 4,295, its lowest level since June 9. Year to date, the index is still up nearly 12%.

Check out the chart…

S&P 500 ytd chart

August’s new home sales fell short of analysts’ expectations and fell 8.7% from July. According to the Department of Commerce. The The Conference Board’s Consumer Confidence Index It fell from 108.7 in August to 103 in September.

Comments from JPMorgan Chase CEO Jamie Dimon expecting more room for rate hikes also pushed shares lower earlier this morning.

-Lisa Kailai Hahn, Jeff Cox

16 hours ago

Oil prices continue to rise this quarter

Oil prices have been strong over the past few months, pacing crude for its best quarter in more than a year.

With only a few days left in the trading month and quarter, both West Texas Intermediate and Brent crude are on pace for their first monthly gains. That means, if it holds, both will go up in price every month of the third quarter.

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WTI has gained about 26.1% since the start of the quarter, while Brent has climbed 23.8%. With those improvements, both are on pace to record their best quarters since the first quarter of 2022.

-Alex Haring, Gina Brancola

21 hours ago

Tesla fell after reports that the EU would investigate the EV maker over China exports

Tesla shares fell more than 1% after a European Union trade official told The Financial Times the company, along with other carmakers in Europe that export from China, will face an investigation into whether EV makers are unfairly subsidized.

“Strictly speaking, this is not limited to Chinese brand electric vehicles, if other manufacturers’ vehicles receive production-side subsidies,” EU executive vice-president Valdis Dombrovskis said. FT.

– Fred Imbert

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