Home Markets Hong Kong stocks jump 5% as Asia-Pacific markets rise after U.S. inflation report

Hong Kong stocks jump 5% as Asia-Pacific markets rise after U.S. inflation report

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Hong Kong move: Alibaba, JD.com, Tencent soar in the open

Stocks of Hong Kong-listed Chinese tech companies jumped out as broader market in early Asian trading Hang Seng Index Temporarily added more than 6%.

tech giant Alibaba When JD.com They rose by 7.94% and 10% respectively. Tencent added 9.16%, Meituan increased by 12.26%.

— Li Yingxiang

Currency check: strong yen, strong Chinese yuan

of JPY When Chinese yuan Hovering at enhanced level after US dollar index It fell more than 1% overnight on weaker-than-expected inflation reports.

At 141.63 against the dollar, the yen hovered near the strongest level seen in two months before weakening above 150 in October.

The onshore renminbi traded near its strongest level in almost a month at around 7.18.

— Lee Ji-hye

Asia-Pacific index surges at opening on US inflation report

CNBC Pro: Bitcoin Will Fall Further, Fund Manager Says — Until This One Catalyst Works

Bitcoin plunges 75% from all-time highs, crypto exchanges on the verge of bankruptcyIn such an environment, fixed income fund managers reveal one thing they need in order for prices to rise.

Cross Border Capital’s Michael Howell also said the lack of catalyst has increased the risk that investors will enter “a little too early.”

CNBC Pro subscribers can read more here.

— Ganesh Rao

Consumer price index rise fell short of expectations

US consumer price index — a broad measure of inflation — rose 0.4% in October from a month ago. Year-on-year, CPI increased by 7.7%.

Economists polled by Dow Jones had expected a 0.6% increase month-over-month and a 7.9% increase year-on-year.

Excluding volatile food and energy costs, the so-called core CPI increased by 0.3% on a monthly and 6.3% yearly basis, compared to estimates of 0.5% and 6.5% respectively.

— Jeff Cox

Dollar Index Pace on Worst Day Since December 2015

The US dollar fell against a basket of other currencies on Thursday as investors welcomed a weaker-than-expected October CPI report, indicating that inflation may have peaked. increase.

The Dollar Index is down 2%, setting pace for its worst daily performance since December 4, 2015. If the index falls by more than 2.1% he will reach levels not seen since 2009.

The dollar index is down 2.3% this week, its worst weekly pace since March 2020.

— Carmen Reinicke

Biden raises concerns over Xi-Putin relationship ahead of G20 summit

The US government has introduced some of the most drastic export controls aimed at cutting China off from advanced semiconductors. Analysts said the move could disrupt China’s domestic semiconductor industry.

Mandel Gunn | AFP | Getty Images

President Joe Biden is scheduled to meet in person with Chinese President Xi Jinping next week to discuss Russia’s war in Ukraine.

The first meeting between the two leaders since Biden took office as president of the United States It will be held ahead of the G-20 summit in Bali, Indonesia.

“The president will speak honestly and openly to President Xi Jinping about how he sees the situation in Ukraine with Russia’s war of aggression,” a senior Biden administration official told a news conference.

“This is a topic that the president and President Xi Jinping have discussed several times before. They spoke extensively in a video call in March and then again in July. They said,” the source said on condition of anonymity. added.

— Amanda Macias

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