Asia Pacific stocks rise despite shrinking factory and service activity in China

US-China Senior Diplomats, Relations Discussion, Russian War: State Department US State Department data shows that US Secretary of State Anthony Blinken spoke on the phone with Chinese Foreign Minister Wang Yi and discussed “keeping an open line of communication”. .The State Department said Blinken raised the issue of Russia’s war in Ukraine and a “threat to global security and economic stability.”— Lee Ji-hye The US dollar could get stronger on interest rate differentials: Wells Fargo US Dollar Wells Fargo According to the report, as central banks around the world are taking a “less hawkish” stance, they are expected to be further strengthened by interest rate differentials. FX Strategist Brendan McKenna told CNBC’s Squawk Box Asia that the Fed remains hawkish. McKenna said he expects the dollar to continue strengthening. “At least” to Q1 next year – Jihye Lee Australian retail sales rose 0.6% in September Australian retail sales rose 0.6% from August, official data showed in September. Rates reported in the previous monthly period. Clothing, footwear and personal accessories sales increased 2%, while cafes, restaurants and takeaways increased 1.3%. Nationwide retail volumes are released on Friday and ANZ Research expects quarterly growth of 0.4%. ANZ Research said in a tweet that the spread of COVID-19 is still strong for household spending.” Abigail NgGoldman Sachs expects Fed rates to peak at 5%. Economists at Goldman Sachs expect Federal Reserve rates to hit as high as 5%, economists led by Jan Hatzius said in a memo on Saturday adding another 25bps to their forecasts after raising their forecasts that the central bank would raise 75bps at this week’s meeting. said. 25bp increase in December, another 25bp increase in March – Jihye LeeMacao’s gaming stock fell after dealer’s casino closure Covid case Macau gaming stock listed in Hong Kong, according to a government notice, MGM China’s Cotai casino employee After testing positive for the bid, there was a sharp drop in initial trading. Another multi-sector announcement said that the measures are expected to be lifted between 3 and 5 November. Shares of MGM China fell 2.89%, shares of Wynn Macau fell 2.62% and shares of Galaxy Entertainment fell 1.85%. Shares of Sands China also fell 2.29%. SJM Holdings also fell more than 3%. Factory activity in China in October fell short of expectations China’s factory activity fell in October compared to September, data from the National Bureau of Statistics show. We missed our expectations of 50, the indicator that separates monthly growth from contraction. The September PMI was 50.1. China’s official non-manufacturing PMI was 48.7, down from 50.6 in September. Industrial production declines Japan’s industrial production for September fell 1.6% from August to September for the first time in four months, a Reuters poll showed that a 1% decline fell more than expected and closed growth for the third straight month, according to government data. I did. A government survey predicting industrial production figures predicts a decline in October. ber, while seeing an uptrend in November.— Jihye Lee CNBC Pro: These 12 cheap global stocks are expected to rally, and analysts love them. Stocks around the world have been selling off this year on recession fears and soaring inflation and are now looking cheap. Analysts say there may be a buying opportunity for some stocks expected to rise. To find these stocks, CNBC Pro selected names from the MSCI World index that met several criteria. CNBC Pro subscribers can read more here.— Check Weizhen TanCurrency: JPY weakens above 148 The Japanese yen fell 148 points against the US dollar for the first time since Wednesday, dropping 75 basis points for the first time since Wednesday, closing the US-Japan exchange rate gap. It’s happening more. Some bullish eady up to the 146 level last week ahead of the Bank of Japan’s rate freeze decision, before crawling back towards 148 against the greenback. Abigail NgChina’s factory activity in October is expected to remain unchanged from September China’s official Purchasing Managers Index for October is expected to be similar to September, Reuters poll said. At 50, this is the point that separates growth and contraction. The PMI compares monthly activity. In September, the economy drew a PMI reading of 50.1.— Abigail NgTraders, looking for signs of a recession on FedWall Street, is closely watching a Federal Reserve statement this week as the central bank raises rates. It will slow you down. Traders believe there is an 80% chance the Fed will raise rates by 3/4 points on Wednesday, according to the CME FedWatch tool, which will push the central bank’s target range from 3.75% to 4%. But beyond that, the market looks more uncertain. There is only a 44% chance of another increase in that size in December.— Jesse Pound
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