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Asia-Pacific markets, trade data, Bank of Japan

Bank of Japan stresses need to maintain current monetary policy

The Bank of Japan stressed the need to maintain current monetary policy, including keeping the yield curve control unchanged. summary of opinion From the last meeting announced on Thursday.

“Given the prospect that it will take time to achieve the 2% price stability target in a sustained and stable manner, the Bank of Japan should continue its current yield curve control.”

The Bank of Japan continued to purchase Japanese government bonds in response to upward pressure on yields.of Nikkei reported Earlier this week, the BOJ revealed that it technically owns more than 100% of some major 10-year government bonds, or has more than its issuance.

“Long-term interest rates are under upward pressure and the yield curve remains distorted,” the BOJ said in its briefing, citing additional purchases of government bonds as one of many options. To keep the yield curve within tolerance.

– Lee Ji Hye

Singapore factory output expected to fall 6.9%, continuing decline since October

Analysts surveyed by Reuters expect Singapore’s manufacturing output to fall 6.9% in December from a year earlier, more than double the decline recorded in November.

Projected forecasts show that the fall in Singapore’s manufacturing output since October will also extend the 3.2% decline in November.

Monthly, Singapore’s factory output is expected to register a decline of 1.1%.

— Lee Yingxiang

South Korea economy shrinks for first time since 2020

Gross Domestic Product of South Korea 0.4% decrease Q4 2022 QoQ contraction for the first time in two and a half years.

Personal consumption fell 0.4%, exports fell 5.8% and manufacturing fell 4.1%, according to the Bank of Korea.

Government spending surged 3.2% compared to a 0.1% increase in the third quarter.

On a year-on-year basis, South Korea’s GDP grew 1.4% year-on-year in the final quarter, slightly below Reuters’ forecast of 1.5% growth.

— Li Yingxiang

CNBC Pro: Want to profit from China’s economic reopening? Bank of America and UBS have some low profile stocks

Stocks in certain key sectors directly related to China’s reopening, such as domestic consumption and travel, have performed well in recent months.

Investors looking to get into these stocks may find current valuations unacceptable.But there may be another way to play out reopening, with Bank of America and UBS We have identified a number of beneficiaries that are less visible outside of China.

Pro subscribers can read more here.

— Xavier Ong

CNBC Pro: Lithium is having a strong year — and China’s economic reopening will boost the stock, analysts say

Thanks to that, the electric vehicle industry is on the upswing. China’s reopening — especially in the second half of the year, says one analyst.

Corinne Blanchard, Vice President of Lithium and Cleantech Equity Research at Deutsche Bank, names one of the most important stocks.

CNBC Pro subscribers can read more here.

— Tan Weizhen

stock finish mix

Stocks were mixed on Wednesday.

The Dow Jones Industrial Average rose 9.88 points (0.03%) to close at 33,743.84. The Nasdaq Composite fell 0.18% to close at 11,313.36 while the S&P 500 fell 0.02% to close at 4,016.22.

— Samantha Soobin

Microsoft stock loses after-hours rally and turns negative

Microsoft’s stock fell about 1% in after-hours trading, reversing its previous rally.

Shares initially rose after the company posted quarterly earnings per share that beat Street’s expectations. But investor sentiment soured after Microsoft released disappointing earnings guidance for the quarter on its earnings call.

The company forecast third-quarter revenue of $50.5 billion to $51.5 billion, with analysts surveyed by Refinitiv forecasting $52.43 billion.

read more about Click here for Microsoft results.

Darla Mercado, Jordan Novett

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