China’s factory activity data misses expectations; Asia-Pacific markets mostly higher

China’s PMI for November came in at 48, below the 50-point mark that separates growth from contraction.

It was lower than the expectations of analysts polled by Reuters, who predicted a reading of 49. The PMI for October was 49.2.

PMI readings are linear and represent month-to-month changes in manufacturing activity.

— Abigail Ng

Australian consumer prices for October slowed to 6.9% on an annualized basis, from 7.3% in September, according to monthly data from the Australian Bureau of Statistics.

Rising prices for housing, food and non-alcoholic beverages, as well as transportation led to a rise in the overall CPI index.

Hong Kong listed shares d Bilibili rose 12.7% in the morning of Asia after the company beat the earnings for the third quarter of the year.

Revenues came to 5.79 billion Chinese yuan ($809.8 million), 11% higher than the same period in 2021. Estimates from Refinitiv Eikon predicted revenue of 5.52 billion yuan.

Losses were reduced to 1.7 billion yuan, and average monthly users grew by 25% on an annual basis.

US-listed shares of the company rose 22% overnight, while Hong Kong shares were up 8.47%.

— Abigail Ng

South Korea and Japan are just falling in the month of October.

Japan’s industrial output for October fell 2.6% compared to the previous month, exceeding expectations of a 1.5% decline, according to a Reuters poll.

The reading marks the second consecutive decline after seeing a 1.7% drop in the previous month.

South Korea’s industrial production also fell 3.5% compared to the previous month, also lower than expectations of a 1% decline. The reading marked the lowest since May 2020, when production fell by 6.7%.

– Jihye Lee

China’s official ‘Manufacturing’ report for November is expected to come in at 49, below the 50-point mark that separates growth from contraction, according to analysts. investigated by Reuters.

That’s slightly lower than the reading of 49.2 reported in October.

PMI readings are linear and represent month-to-month changes in activity.

— Abigail Ng

China’s health authorities said officials were “closely monitoring” the development of Covid when asked if the protests in the region would lead to changes in its no-Covid policy. .

“China has been closely following and monitoring the virus as it evolves and changes,” the officials said, according to a translation of the conversation on Tuesday.

– Christine Wang, Evelyn Cheng

Goldman Sachs’ Global Head of Commodities Research Jeff Currie told CNBC that historically, oil products have traded at a higher price to crude oil prices compared to current prices..

For example, the price range between SPDR Oil & Gas ETF and ICE Brent Crude The futures contract was around $66.60 on Tuesday. It is much lower than the $104 gap recorded at the beginning of January 2017, according to Koyfin data, as shown in the chart below.

China’s health authorities announced a plan to strengthen the vaccination of the elderly, according to an announcement on the National Health Commission’s website.

Hong Kong listed shares d CanSino Biologics expanded earnings at midday and rose 18% shortly after the announcement.

The report says that authorities should use more data to accurately identify target groups for vaccines for adults.

Wall Street investors are concerned about the stock market outlook, and investors are being urged to remain cautious. These stocks with growth can be a safe bet.

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— Zavier Ong

Of the Dow Jones Industrial Average closed 3.07 points, or 0.01%, higher after trading down for most of the day. The index ended the day at 33,852.53.

Currently, the Nasdaq Composite it finished lower by 0.59%, to close at 10,983.78. Tthe S&P 500 down 0.16% to close at 3,957.63.

— Alex Harring