Asia markets fall as Japan’s core inflation marks highest in over 40 years

The Bank of Japan announced a policy change in October, the minutes show

The Bank of Japan in its October monetary policy meeting, the minutes of its meeting on October 27 and 28, indicated a future policy change.

One member noted that “it is important to examine how future exit strategies will affect the market and whether market participants will be well prepared for them,” the statement said.

While members of the central bank’s policy board highlighted the need for its long-term stance, they also emphasized the need to “listen to the side effects of monetary easing,” the minutes noted.

“The impact of higher prices on household behavior and wages needed to be carefully examined,” she said.

– Jihye Lee

China lifts quarantine requirements for international travelers: Bloomberg

China plans to introduce quarantine requirements for foreign travelers next month, Bloomberg reported, citing sources familiar with the matter.

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International arrivals in mainland China will only complete three days of health surveillance, which has not yet been officially determined, the report said.

This will replace instructions to be placed in a quarantine hotel or isolation facility.

Travelers are now required to self-quarantine for five days in a hotel or isolation facility, followed by three days of home isolation.

– Lee Ying Shan, Evelyn Cheng

Oil prices rise on expected decline in Russian crude oil exports

Oil prices rose on expectations that Russian oil exports fell 20% in December, according to Reuters calculations.

Brent crude rose 0.72 percent to $81.56 a barrel, while US crude oil rose 1.01 percent to $78.27 a barrel.

An expected drop in Russian crude oil exports is seen adding pressure to rising heating oil demand as parts of the United States brace for a winter storm.

– Lee Ying Shan

Japan’s core inflation is over 40

Japan’s core consumer price index rose 3.7% on an annual basis in November, marking the fastest pace since December 1981, when it rose 4%.

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The reading was in line with analysts’ estimates polled by Reuters, and followed a 3.6% drop last month.

The reading remains above the Bank of Japan’s inflation target of 2%. The national CPI of all goods stood at 3.8%.

– Lee Ying Shan

CNBC Pro: Tech fund manager backs these 2 software stocks will succeed in recession

According to technology fund manager Jeremy Gleeson, automation and cost cutting in many businesses during the recession will boost profits at two Silicon Valley companies.

Gleeson, who manages a $1.5 billion technology fund at AXA, believes that if there is a recession next year, then “companies need to do more with less.”

“One of the ways they can do that is to use the best technology to increase the productivity of their existing workforce,” he said, naming two stocks that will benefit from the trend.

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CNBC Pro subscribers can read more here.

– Ganesh Rao

Stocks are lower on Thursday

Stocks closed lower on Thursday, after pulling back from session lows, as year-end selling resumed on Wall Street.

The Dow Jones Industrial Average gained 348.99 points, or 1.05%, after falling to 803.05 points earlier in the session. The S&P 500 fell 1.45%, while the Nasdaq Composite fell 2.18%.

– Sarah Min

CNBC Pro: Buying Peloton and similar growth stocks is ‘silent,’ says strategist

Growth stocks are 'entering a gap', strategist says - here's what to look for

Tech stocks are unlikely to rebound after a “pivot” on interest rates from the Federal Reserve, according to one market strategist.

CNBC Pro subscribers can read why Peter Toogood, chief investment officer of Embark Group, also likes stocks like Peloton are a “perfect” trade for investors.

– Ganesh Rao


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