Asia’s markets trade mixed on recession fears; China to report trade data

TSMC shares rise after Apple says it will use chips made in the US by the Taiwanese company

China expected to see a further decline in exports and imports

China’s trade data for November is expected to show a further decline in both exports and imports, according to a Reuters poll of economists.

Average forecasts predict that exports will fall 3.5% in November on a year-on-year basis after falling 0.3% in October, and imports are expected to fall 6% after falling 0.7% the previous month.

The US dollar trade balance is expected to narrow to $78.1 billion – down from the previous month’s $85.15 billion.

– Jihye Lee

CNBC Pro: ‘A gift to investors’: BlackRock says it’s time to rethink bonds

It’s time to rethink bonds, according to the BlackRock Investment Institute, which said “the lure of fixed income is strong” right now.

“Higher returns are a gift to investors who have long been starved of income. And investors don’t have to go far up the risk spectrum to receive it,” Philipp Hildebrand, vice chairman of BlackRock, and Jean Boivin, head of the BlackRock Investment Institute, wrote in a note last week.

They outlined their best ways to make money.

Pro subscribers can read more here.

— Zavier Ong

Australia’s economy experienced lower growth in the third quarter

Australia’s economy grew by 0.6% over the previous quarter, official data showed – Missing estimates are expectations for quarterly growth of 0.7% predicted in a Reuters poll.

The latest gross domestic product showed subdued growth from the second quarter expansion of 0.9% from the first three months of the year.

On an annual basis, GDP in the third quarter added 5.9%, which the Australian Bureau of Statistics said reflects “sustained economic growth since the effects of the Delta eruption in the September quarter of 2021.”

“Growth was largely driven by strength in household consumption,” it added.

The annual figure also missed expectations in a separate Reuters poll of a 6.2% rise.

Australian dollar was little changed after the report and that S&P/ASX 200 maintained 0.7% lower.

— Abigail of

CNBC Pro: UBS Says Global Airline Shares Set to Rise 55%

Shares in a global airline are set to rise 55% over the next year, according to UBS.

The investment bank raised its price target after the pan-European carrier said it expects to see strong demand over Christmas.

CNBC Pro subscribers can read more here.

– Ganesh Rao

Shares end lower, building on Monday’s losses

Stocks tumbled on Tuesday, building on losses from the previous session.

The S&P 500 fell 1.44% to close at 3,941.26, while the Nasdaq Composite dipped 2% to end at 11,014.89. The Dow Jones Industrial Average fell 350.76 points, or 1.03%, to 33,596.34.

—Samantha Subin

Oil falls to lowest level since December 27, 2021

Oil prices fell on Tuesday, weighed down by economic uncertainty, even amid a Russian oil price cap and potential demand growth thanks to China’s reopening.

US West Texas Intermediate crude for January delivery was down more than 4% at $73.85 by afternoon Tuesday. Brent crude for February delivery fell 4.34% to $79.09 a barrel. barrel.

The U.S. also said it sees oil production rising next year, reversing its outlook after five months of cuts. A monthly report from the Energy Information Administration said production is expected to reach 12.34 million barrels per day in 2023, up from the daily record of 12.315 million barrels per day in 2019.

—Carmen Reinicke

Inflation is eroding consumer wealth and could bring recession by 2023, Dimon says

Dimon said in June that he was preparing the bank for an economic “hurricane” caused by the Federal Reserve and Russia’s war in Ukraine.

Al Drago | Bloomberg | Getty Images

US consumers are still doing well and supporting the US economy, but that could change next year, according to JPMorgan Chase Manager Jamie Dimon.

Consumers have $1.5 trillion in excess savings from pandemic stimulus programs and are spending 10% more than in 2021, he said on Tuesday. CNBC’s “Squawk Box.”

Inflation erodes everything I just said, and a trillion and a half dollars will run out sometime in the middle of next year,” Dimon said. “As you look forward, these things could very well derail the economy and cause a mild or severe recession that people worry about. “

Dimon thought so too cryptocurrenciesthe necessity of Fossil fuels and other topics during the extensive interview.

– Hugh Son

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