17 Minutes AgoHong Kong shares rebound after falling for 2 days as tech stocks surge Shares in Hong Kong surged Tuesday, with the Cling Seng index leaping greater than 3% after two instantly days of declines.Stocks of era corporations led the development in beleaguered Hong Kong markets — Asia’s worst performer final 12 months — pushing the Cling Seng Tech index up just about 5%.Stocks of NetEase jumped 5.23%, Alibaba rose 4.43%, Tencent won 4.12% and Bilibili complex 8.3%.The Cling Seng index had fallen just about 14% in 2023, declining for a fourth instantly 12 months.Belongings shares have been additionally upper on Tuesday, with Longfor Crew leaping just about 10%, Logan Crew up 5.7%, and Nation Lawn gaining 6.56%.2 Hours AgoSouth Korea’s manufacturer costs climb at quicker charge in DecemberSouth Korea’s manufacturer value index rose 1.2% 12 months on 12 months in December, accelerating from the 0.6% upward thrust in November.On a month on month foundation, manufacturer costs rose 0.1%, reversing from the 0.4% fall in November.One after the other, the rustic’s PPI greater 1.6% for the entire of 2023, a pointy slowdown from the 8.4% upward thrust for 2022.— Lim Hui Jie2 Hours AgoBitcoin slides underneath $40,000 as crypto ETF met by way of ‘promote the scoop’ waveA Bitcoin brand on a display screen in Hong Kong, China, on Tuesday, Dec. 5, 2023.Paul Yeung | Bloomberg | Getty ImagesBitcoin, the arena’s most well liked cryptocurrency, fell decidedly underneath $40,000 for the primary time this 12 months.It was once final buying and selling at $39,690, consistent with Coin Metrics, in early Asia buying and selling Tuesday, additionally weighing down smaller friends together with Ethereum.Bitcoin has fallen 14% since Jan. 10, the day the SEC allowed ETF buying and selling for the cryptocurrency. Ether, which has been outperforming bitcoin, has won 3% all the way through the similar duration.”Bitcoin’s month-long keep above the psychologically essential $40,000 degree ends unceremoniously because the approval of ETFs has been met by way of a ‘sell-the-news’ wave compounded by way of capital flight from GBTC (Grayscale Bitcoin Believe),” stated Antoni Trenchev, co-founder of virtual asset corporate Nexo.”It appears like Bitcoin buyers are operating up a descending escalator presently as conventional monetary benchmarks benefit from the more straightforward journey to document highs. This era the place Bitcoin has to dash to face nonetheless would possibly smartly final a couple of weeks as locked-up GBTC buyers in any case get a chance to go out their positions.”The Grayscale Bitcoin Believe ETF is the arena’s greatest, with over $25 billion in property below control.CEO of Grayscale Investments Michael Sonnenshein instructed CNBC final week that many of the authorized bitcoin ETFs would possibly not continue to exist.3 Hours In the past‘It’s actually dangerous’: China strategist warns of deflation, rock-bottom shopper confidenceCustomers store for fruit at a grocery store on November 9, 2023.Visible China Crew | Getty ImagesDeflation would possibly quickly get started biting into Chinese language enlargement, as Beijing appears at every other 3 to 6 months of a “very painful economic system,” Shaun Rein, founding father of the China Marketplace Analysis Crew stated.”That is one thing buyers wish to be wary of. The economic system here’s dangerous, it is beautiful … it is actually dangerous. I have been in China for 27 years, and that is almost certainly the bottom self assurance I have ever observed,” Rein instructed CNBC’s “Squawk Field Europe” on Monday.”So deflation is beginning to wield its unsightly head. Customers are looking ahead to reductions. They are very anxious.”In December, depressed costs for red meat — which makes up round a 5th of China’s CPI basket — heralded the imaginable creation of deflation.Learn the whole tale right here.— Ruxandra Iordache3 Hours AgoCNBC Professional: Volkswagen and extra: Barclays names Eu ‘conviction’ inventory concepts — and provides one 59% upsideBarclays has made an upbeat forecast for shares in 2024, anticipating upper, but extra average, returns than the outstanding beneficial properties of final 12 months.The funding financial institution believes shares nonetheless have room to upward thrust if inflation continues slowing, permitting central banks to sooner or later lower rates of interest.CNBC Professional takes a have a look at 5 corporations, together with Volkswagen, in Barclays’ Eu “Conviction with Catalysts” record of inventory concepts that provide sturdy upside attainable.Subscribers can learn extra right here.— Ganesh Rao3 Hours AgoCNBC Professional: JPMorgan and Morgan Stanley are bullish about those U.S.-listed names in China’s web sectorMorgan Stanley and JPMorgan named their key China web alternatives and the subjects to observe presently.Each Wall Side road banks indicated that it’ll be an alpha-driven marketplace for the field.”For 2024, we expect an alpha-driven funding technique will proceed to supply excellent possibility/praise,” JPMorgan stated in a Jan. 16 be aware.Each banks named their most popular names within the sector. All are traded in the USA. One named a “excellent contrarian lengthy case,” giving it 107% upside.CNBC Professional subscribers can learn extra right here.— Weizhen Tan7 Hours AgoInvestors will have to get ready for a marketplace selloff quickly in spite of equities hitting new heights, says HSBCThe S&P 500 could have soared to new heights to near final Friday’s buying and selling consultation, however HSBC says that buyers mustn’t rely at the fairness rally to hold on for for much longer.”Beneath the hood, there are cracks rising,” wrote analyst Max Kettner. “Whilst it can be tempting to chase the newest all-time highs, we take care of our view of a Opposite Goldilocks episode hitting nearly all asset categories within the coming months.”As proof, Kettner pointed to “shakier” task in markets past the U.S. large-cap names pushed by way of the AI frenzy. Small- and micro-caps, high-beta and meme shares are all down this 12 months, along Eu equities.Moreover, Kettner underscored that the beneficial properties in U.S. large-cap shares have to this point been essentially pushed by way of fine quality names. Alternatively, low-quality names seem to have already got begun struggling.— Lisa Kailai Han9 Hours AgoOil rises after suspected Ukraine drone strike on Russia gasoline terminalOil costs rose greater than $1 on Monday, after a suspected Ukrainian drone strike on a big Russian gasoline terminal positioned renewed focal point at the risk to crude provides. The West Texas Intermediate futures contract for February rose by way of $1.42, 1.93%, to industry at $74.83 a barrel. The Brent contract for March won $1.12, or 1.43%, to industry at $79.68 a barrel. Ukrainian drones struck a Russian gasoline processing and export terminal at the Baltic Sea known as Ust-Luga, assets in Kyiv instructed the BBC and The Wall Side road Magazine. “The Ukrainian drone assault at the Baltic port raises the query: Is that this going to be a coverage determination by way of Ukrainians to assault Russian oil infrastructure,” stated Bob Yawger, managing director and effort futures strategist at Mizuho Americas. “If that is the case, that is an issue,” Yawger stated. — Spencer Kimball6 Hours AgoDow tracks towards third document shut of 2024; S&P 500 not off course for 2ndAny final achieve for the Dow on Monday will likely be its 2d instantly document and 3rd this 12 months, having reached the ones previous milestones on Jan. 2 (37,715) and Jan. 19 (37,864). The blue-chip index may be on tempo to take out Friday’s intraday height of 37,933.73.The 30-stock Dow eclipsed its prior excessive, relationship from January 2022, on Dec. 13, 2023, and went on to finish the month with a complete of 7 new, all-time final highs.The S&P 500 got here to the birthday celebration a bit later, in any case taking away its January 2022 highs on each a final and intraday foundation on Friday, Jan. 19. It is now poised to set a document for a 2d instantly day on Monday.The Nasdaq Composite Index, in the meantime, has but to most sensible its Nov. 19, 2021 final document of 16,057, or its Nov. 22, 2021 intraday height of 16,121.See Chart…Nasdaq Composite since intraday document Nov. 22, 2021
