Hong Kong stocks rose more than 7% after China shortened quarantine period.

The Chinese yuan reached its highest level in more than a month after China eased COVID-19 measures The Chinese yuan hit its highest level in more than a month after China announced some easing of Covid measures. The onshore Chinese yuan was last traded at 7.0949 against the US dollar. Oil prices rose more than 2% as China eased quarantine measures. The revised rules allow travelers to stay in quarantine for five days, shorter than the previous period of seven days, and have a two-day home observation period.— Evelyn Cheng, Lee Ying ShanEarnings Preview: Softbank Posts Net Profit After Previous Loss Softbank is expected to post net income in the next quarter. According to the Refinitiv survey, the median forecast for Japanese conglomerates is expected to be 2.769 trillion yen ($195 billion) in annual net income in the second quarter, which ends September 30. The company recorded a quarterly net loss for two consecutive quarters, and recorded a net loss of 3.16 trillion yen in the first quarter, which ended on June 30, and a net loss of 2.1 trillion yen in the fourth quarter, which ended on March 30. Chinese tech companies jumped in Asian deals. Tech giants Alibaba and JD.com surged 7.94% and 10%, respectively. Tencent rose 9.16% and Meituan 12.26%.— Lee Ying Shan Currency Confirmation: Japanese Yen, Chinese Yuan Strong – Expected Inflation Report Month.- Jihye LeeAsia-Pacific Index Revealed After US Inflation Report CNBC Pro: Bitcoin Falls More said the fund manager. By the time this catalyst is triggered, Bitcoin is down 75% from all-time highs and cryptocurrency exchanges are up and running. before bankruptcy. In this environment, bond fund managers have revealed one thing that is necessary for prices to rise. Cross Border Capital’s Michael Howell also said the missing catalyst increased the risk of investors getting in “a little too early”. CNBC Pro subscribers can read more here— Ganesh RaoCPI rose less than expected. The US Consumer Price Index, a measure of broad inflation, rose 0.4% in October from a month earlier. Compared to the same period last year, the CPI increased by 7.7%. Economists surveyed by Dow Jones expected an increase of 0.6% month-over-month and 7.9% year-over-year. Excluding volatile food and energy costs, the so-called core CPI increased 0.3% this month and 6.3% the previous month. On an annualized basis, compared to their estimates of 0.5% and 6.5%, respectively.— The US dollar fell on other currencies Thursday as investors in the Jeff CoxDollar Index, its worst day since December 2015 cheered the weaker-than-expected October CPI report. It fell against the basket. A sign that inflation may be peaking. The dollar index fell 2%, its worst daily performance since December 4, 2015. If the index falls more than 2.1%, it will reach levels not seen since 2009. The dollar index is down 2.3% this week and is having its worst week since March 2020. —Carmen ReinickeBiden Raises Concerns About Xi Jinping-Putin Relations Ahead of G-20 Summit The US government has introduced the most comprehensive export controls aimed at deterring China from advanced semiconductors. . Analysts said the move could hamper China’s domestic chip industry. AFP | Getty Images US President Joe Biden will discuss Russia’s war in Ukraine with Chinese President Xi Jinping next week at the G20 summit in Bali, Indonesia. A senior Biden administration official told reporters on the phone “about how President Xi sees the situation in Ukraine as a result of Russia’s war of aggression.” It’s part of an ongoing conversation between the two because he had a video call in March and talked about it back in July,” an official who said on condition of anonymity added.
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