Asia-Pacific markets fall as second day of G-20 is underway

World Bank says Russia is ‘ruining its future’ with Ukraine war

The head of the World Bank, David Malpass, said that Russia is harming its future by continuing the war on Ukraine.

“It weakens Russia, makes them an outcast and literally destroys their future,” he said. “I am upset because of what Russia is doing to itself, to its people.”

When asked about the latest developments on a Russian missile that killed Polish citizens, Malpass said: “I don’t want to speculate on missiles, but until the G-20. [goes]There is unity, broad unity of the G-20 countries against the war.

– Jihye Lee

JPMorgan cuts its GDP forecasts for China

JPMorgan lowered its economic forecasts for China in response to developments including a recent surge in Covid cases and a “significant slowdown in domestic activity”, analysts said in a note.

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The investment bank now expects China’s GDP growth to reach 2.9% for 2022, down from its previous forecast of 3.1%. In 2023, JPMorgan sees China’s economy growing by 4%, compared to the previous forecast of 4.5%.

October retail sales and industrial production data were released on Tuesday as global growth slowed and China battled Covid outbreaks.

– Abigail Ng, Michael Bloom

CNBC Pro: Analysts think these EV-related stocks in the lithium supply chain could be winners

Goldman Sachs says battery metal prices are nearing a peak.

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From this perspective, CNBC Pro investigated Global X Lithium & Battery Tech ETF for stocks linked to electric vehicle makers that could provide opportunities for investors.

These stocks are expected to post full-year growth in 2023, rated by most analysts who cover them, and have the potential to average at least 20% over the next 12 months.

Here it is .

– Zavier Ong

The Ministry of Foreign Affairs of Poland announced that the missile that killed 2 people in Poland was made by Russia

The Ministry of Foreign Affairs of that country announced on Wednesday that 2 people were killed after a Russian missile landed inside Poland.

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The ministry said Russia launched a long-range attack on Ukrainian infrastructure when a missile hit the village of Przewodów, killing two Polish citizens.

Polish Foreign Minister Zbigniew Rau called on the Russian ambassador to “immediately provide a detailed explanation” of the incident.

– Chris Eudaily

Stocks rose for the third day in four days

Key rates rose on Tuesday after another report showed inflation may be slowing.

The Dow Jones Industrial Average rose 56.22 points, or 0.2%, to 33,592.92. The S&P 500 advanced 0.9% to 3,991.73, and the tech-heavy Nasdaq Composite gained 1.5% to 11,358.41.

– Tanaya Macheel

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