China’s factory activity at lowest reading since April; Asian markets are mostly higher

China's factory activity at lowest reading since April;  Asian markets are mostly higher
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Bitcoin briefly crossed $17,000, reaching its highest level since mid-November

In the Asian morning session, the price of bitcoin briefly exceeded $17,000 for the first time since mid-November.

Bitcoin increased by 2.2% from the previous 24 hours Coin Metrics and last traded for $16,863.07 per coin.

Ether also increased and traded at $1,268.46, up 4.74% in the last 24 hours.

– Jihye Lee

China’s factory activity misses expectations, contracts for second straight month

Officially made in China Index of Purchasing Managers For November, it came in at 48, below the 50-point mark that separates growth from contraction.

That was below expectations of analysts polled by Reuters, who had forecast a reading of 49. October’s PMI was 49.2.

PMIs are consistent and represent monthly changes in factory activity.

– Abigail Ng

Australia’s monthly inflation gauge shows a slight slowdown

Australia’s consumer price index for October fell to 6.9% year-on-year from 7.3% in September. monthly indicator By the Australian Bureau of Statistics.

The increase in the price of housing, food and non-alcoholic beverages, as well as transportation, led to an increase in the general CPI indicator.

Bilibili Asia shares pop in morning session

Hong Kong stocks Known rose to 12.7% in Asian morning after the company exceeded revenue estimates for the third quarter of the year.

Net income was 5.79 billion Chinese yuan ($809.8 million), up 11% from the same period in 2021. According to estimates by Refinitiv Eikon, the revenue will be 5.52 billion yuan.

Net losses decreased to 1.7 billion yuan, and average monthly active users increased by 25% year-on-year.

The company’s shares are listed in the United States It rose 22% overnight, while Hong Kong shares gained 8.47%.

– Abigail Ng

South Korea, Japan industrial production data come in worse than expected

Industrial production in South Korea and Japan each fell for October.

of Japan primary industrial production October fell 2.6% from a month earlier, beating expectations for a 1.5% drop, according to a Reuters poll.

The reading marked a second straight decline after a 1.7% drop in the previous month.

of South Korea industrial production also fell 3.5% from a month ago, below expectations for a 1% decline. The reading is the lowest since May 2020, when output fell 6.7%.

– Jihye Lee

China’s factory activity is expected to contract for the second month in a row

China’s official Manufacturing Purchasing Managers’ Index for November is expected to reach 49, below the 50-point mark that separates growth from contraction, according to analysts polled by Reuters.

This is slightly lower than the 49.2 reading reported in October.

PMI readings are consistent and represent monthly changes in activity.

– Abigail Ng

Asked about the change in policy, China says it is “closely monitoring” virus developments

Asked whether protests in the region would lead to changes in the zero-Covid policy, Chinese health authorities said officials were “closely monitoring” Covid developments.

“China is monitoring and closely monitoring the virus as it evolves and mutates,” he said, according to a translation of Tuesday’s briefing.

– Christine Wang, Evelyn Cheng

CNBC Pro: Goldman Sachs’ Currie says oil stocks are trading “way below” long-term trend

Goldman Sachs Global Head of Commodity Research Jeff Currie told CNBC that historically, oil stocks have traded at a premium to crude oil prices compared to current price levels..

For example, the price difference between SPDR Oil & Gas ETF and ICE Brent Crude On Tuesday, the futures contract was around $66.60. That’s significantly lower than the $104 gap recorded in early January 2017, according to Coyfin data.

China announces measures to increase vaccination of seniors

Chinese health authorities released according to plan According to the notification on the website of the National Health Commission, to increase the vaccination of the elderly.

Hong Kong stocks CanSino Biologics extended gains in the afternoon session and rose as much as 18% shortly after the announcement.

The notice states that authorities should use multiple data points to accurately identify target groups for vaccination for seniors.

CNBC Pro: These margin-boosting stocks may be a safe bet as Wall Street falls

Wall Street experts are concerned about the outlook for stocks and are urging investors to remain defensive. These stocks with margin growth can be a safe bet.

Pro subscribers can read more here.

– Xavier Ong

Nasdaq and S&P 500 fell for a third day

The Dow Jones Industrial Average It rose 3.07 points or 0.01% after falling for most of the day. The index ended the day at the level of 33,852.53.

In the meantime, Nasdaq Composite It fell 0.59% to close at 10,983.78 points. TI have the S&P 500 It decreased by 0.16% and reached the level of 3,957.63.

– Alex Harring

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