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Asia-Pacific markets trade lower; China keeps the LPR stable

Asia-Pacific markets trade lower; China keeps the LPR stable

China holds its key lending rates as expected

China left its benchmark lending rate unchanged for the third straight month, according to an announcement from the People’s Bank of China.

The one-year loan rate is stable at 3.65%, and the five-year rate has also remained at 4.3%, according to the statement.

– Of Abigail

South Korean exports fell further in the first 20 days of November

South Korea’s exports in the first 20 days of November fell 16.7% year-on-year as Chinese demand lagged. the data from the customs agency.

The decrease in exports is significant compared to the 5.5% decrease in October compared to the same period last year.

Imports also fell 5.5% in the first 20 days of November, leading to a slight improvement in the trade deficit – $4.4 billion for the period, compared to the $4.9 billion deficit reported in October.

The country has recorded a total trade deficit of 40 billion dollars so far this year, the agency’s statistics showed.

– Jihye Lee

CNBC Pro: Morgan Stanley’s Mike Wilson predicts S&P 500 bottom, calls it a “tremendous buying opportunity.”

Morgan Stanley’s chief US equity strategist Mike Wilson says we are in the “last phase” of the bear market, but the situation will remain challenging for a little while longer.

S&P 500 predicts when ‘new low’ will be reached.

CNBC Pro subscribers can read more here.

– Weizhen Tan

China is expected to keep its benchmark lending rates steady, a Reuters poll says

China’s central bank is expected to keep its key one- and five-year lending rates on hold, according to analysts polled by Reuters.

The one-year rate is currently 3.65%, and the five-year LPR is 4.3%.

The People’s Bank of China made two recent rate cuts in August.

of China offshore Yuan It was weaker at 7.1376 against the US dollar before the decision.

– Of Abigail

CNBC Pro: Strategy says Chinese tech stocks, like Alibaba, are “deeply undervalued.”

Such as the 30% decline in the value of China’s Big Tech stocks this year Ali BabaIt has made them “remarkably cheap”, according to investment bank China Renaissance.

Its head of equities, Andrew Maynard, believes that not only does the stock market appear to have bottomed out, but investors could miss out on a rally if they remain underweight China.

“Certainly the underweight of China is going to cost you going forward,” Maynard said.

CNBC Pro subscribers can read more here.

– Ganesh Rao

Markets are looking for more clues about the Fed’s hike and the economy next week

Investors may be a little more cautious next week, with stocks looking for direction in quiet trade and bond markets warning of a recession getting louder.

The Thanksgiving holiday on Thursday should mean markets will be quiet on Wednesday and Friday. Marketers will monitor reports of Black Friday holiday shopping for consumer feedback.

“This is really a week where data addiction is the key phrase,” said Evercore ISI CEO Julian Emanuel. “Bias [for stocks] higher if the data doesn’t continue to deteriorate and the Fed continues its bullish bias…which has clearly strengthened over the past 48 hours.”

Check out our full deep dive on what to expect next week here.

– Patti Domm, Tanaya Machel

#AsiaPacific #markets #trade #China #LPR #stable

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