Hong Kong stocks rise more than 2% as China trade data misses estimates

Rising interest rates and food inflation pose a threat to the Indian economy

Two risks the Indian economy will face in 2023 are inflation and rising interest rates, State Bank of India Governor Dinesh Kumar Khara told CNBC’s “Squawk Box Asia” on Monday.

There is a risk that India and other economies will have to raise interest rates when central banks such as the US Federal Reserve do, Khara said.

Food inflation is also a challenge as India “imports a significant proportion of its food requirements”, Khara added.

– Su-Lin Tan

Morgan Stanley: US sanctions will not have a ‘direct, immediate impact’ on China

Morgan Stanley said in a note on Monday that the US mid-term elections will not have a direct and immediate impact on China.

However, the results may suggest a re-examination of US companies investing in China.

Senator Robert Casey argued for such a process at a Senate Banking Committee hearing in September, citing “national security” concerns.

If such proposals pass, Morgan Stanley sees the information technology, industrial and healthcare sectors as being most affected, the note said.

Morgan Stanley added that it “expects a difficult separation between the West and China.”

– Lee Ying Shan

China’s October exports fell for the first year-on-year since May 2020

China’s exports decreased by 0.3% in US dollars It missed a significant 4.3 percent increase in October compared to a year earlier in a Reuters poll and a sharp drop from the 5.7 percent growth in September.

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Imports also decreased by 0.7% forecasts for a 0.1% gain from a year ago after rising 0.3% in September.

The decline in US dollar terms last month marked the first year-over-year decline since May 2020, according to data from Refinitiv Eikon.

The yuan weakened about 3% against the US dollar in October, according to Refinitiv Eikon.

In yuan terms, exports rose 7 percent and imports 6.8 percent, customs data released Monday showed.

– Evelyn Cheng

Coinbase criticizes Singapore’s crypto regulations, urges city-state to shut down retail trade

Singapore wants to be a Web3 hub, but doesn’t support crypto trading, Coinbase co-founder and CEO Brian Armstrong pointed out in a panel discussion last week.

“Those two things are incompatible in my mind, and I want to see Singapore embrace retail and self-hosted wallets,” Armstrong said, alongside Sopnendu Mohanty, chief fintech officer of the Monetary Authority of Singapore at the Singapore FinTech Festival. He is talking about 2022. .

Mohanty, in response, said that retail investors today “are facing risks that they don’t realize they are taking.”

“We believe that Web 3.0 is the future and what we want to do is to make sure that the money that can be transacted on this ecosystem is considered a safe asset, safe money,” said Mohanty. “As long as it’s directed, we’re good.”

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– Sheila Chiang

China reopening still ‘months away’ despite talk of preparations: Goldman Sachs

Speculation of China’s reopening led to a rally in markets last week, but Goldman Sachs economists say it is still “months away.”

“The actual opening is still months away as elderly vaccination rates remain low and death rates among the unvaccinated appear high according to official Hong Kong data,” economists led by Hui Shan said in a note.

They added that the government is likely working on an exit strategy, and that the company expects the country to reopen in the second quarter of 2023.

– Jihye Lee

CNBC Pro: Morgan Stanley says this global battery material stock could rise 80%

Morgan Stanley expects shares in an Asian battery materials maker to rise 85 percent by the end of next year.

This is an under-the-radar supplier of battery materials Teslawhich already has triple-digit revenue growth, plans to expand production in the United States.

Even JP Morgan analysts who use a “conservative valuation approach” expect the stock to rise 25% in a year.

CNBC Pro subscribers can read more here.

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– Ganesh Rao

Apple says iPhone production has been temporarily reduced due to Covid-19 restrictions in China

Apple said iPhone 14 production has been temporarily reduced due to Covid-19 restrictions at its factory in Zhengzhou, China, according to a statement on Sunday.

The warning could mean the tech company could hit demand in December as it “significantly reduced capacity” at the factory. The company had already hinted at slowing growth in its iPhone business in its earnings report last month.

The warning from Apple comes as China last week ordered lockdowns in Zhengzhou, where Apple does most of its iPhone production. According to Reuters, employees fled the facility due to restrictions and Covid outbreaks.

– Sarah Min, Kif Leswing

CNBC Pro: There’s still opportunity in tech — here’s how to trade it: Analyst

Tech firms are facing a double whammy of bad news, with disappointing earnings and continued rate hikes by the Federal Reserve weighing on both sectors.

But with heavy technology Nasdaq Down more than 30% year-to-date, analysts say there are some bright spots that could present opportunities for investors.

Here are some of their top picks, including one stock that averaged more than 50%.

CNBC Pro subscribers can read more here.

– Weizhen Tan


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