Asia-Pacific markets mixed, Hong Kong's property stocks lose earlier gains after John Lee's speech - CNBC

Shares of Hong Kong-listed tech companies and EV makers continued to commercialized little during Hong Kong person John Lee's argumentation address, dragging down the wide scale alongside Macao casino stocks.

Xpeng Motors fell 8.24%, Bilibili fell 4.2%, and Meituan besides fell 3.64%. Tencent and Alibaba besides fell much than 2.5%.

Macao casino stocks besides fell, with MGM China dropping 3.84% and Wynn Macau declining 4.15%.

Meanwhile, spot stocks pared earlier gains. Country Garden was past up 0.7% aft it had traded much than 4% higher up of Lee's speech.

China Overseas Land and Investment was up 2.25% aft rising 5% earlier.

–Jihye Lee

A apical enforcement at Kakao Corp volition step down aft a occurrence astatine a information halfway led to a wide outage implicit the play and disrupted services for its messenger's 53 cardinal users worldwide.

Co-CEO Namkoong Whon apologized pursuing the outage and said helium would resign.

"I consciousness the dense load of work implicit this incidental and volition measurement down from my presumption arsenic CEO and pb the exigency catastrophe task unit overseeing the aftermath of the incident," Namkoong said astatine a property league astatine the company's bureau successful the outskirts of Seoul connected Wednesday.

Shares of Kakao traded 2.43%, somewhat little aft the property conference.

–Jihye Lee

Shares of Hong Kong-listed existent property companies roseate successful greeting commercialized up of Chief Executive John Lee's argumentation address.

China Overseas Land and Investment was up 5%, CK Asset gained 2.75% and Sino Land added 2.5%. Country Garden besides added 4.26% up of Lee's speech.

Local media successful Hong Kong are reporting that overseas spot owners whitethorn person rebates connected buyer's stamp duty.

— Abigail Ng

Shares of Apple suppliers successful Asia slipped aft the tech steadfast reportedly asked a shaper successful China to halt the accumulation of an iPhone 14 Plus constituent arsenic Apple re-evaluates request for the product.

The Information reported that 2 different suppliers that assemble modules from that constituent person besides chopped accumulation dramatically.

LG Innotek and SK Hynix successful South Korea mislaid astir 2%, portion Japan's TDK Corporation and Murata Manufacturing shed much than 1% each.

Apple's banal concisely mislaid $4 per stock overnight, but closed the regular league 0.94% higher arsenic large indexes gained.

— Abigail Ng

It's been a choppy twelvemonth for gold, with the precious metallic "torn betwixt maturation and ostentation risks and higher existent rates and the beardown dollar," Goldman analysts wrote successful an Oct. 11 note.

"In our view, determination remains a batch of uncertainty astir the aboriginal way of U.S. inflation, growth, rates and the cardinal slope (CB)'s absorption functions."

Goldman ran 4 antithetic economical scenarios, and predicted wherever golden prices could extremity up successful each case.

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Futures of West Texas Intermediate crude moved up astir $1, oregon 1.33% and futures of Brent crude roseate $0.83, oregon 0.92% arsenic the Biden medication is expected to merchandise much lipid from the U.S. Strategic Petroleum Reserve.

The program could beryllium announced arsenic aboriginal arsenic Wednesday, sources told CNBC.

The determination aims to widen the existent SPR transportation program, which began this spring, done December, the sources said.

–Kayla Tausche, Jihye Lee

Economists astatine ANZ expect the Reserve Bank of New Zealand to present a hike of 75 ground points each astatine its upcoming meetings successful November and February.

New Zealand's cardinal slope lifted involvement rates by 50 ground points to 3.5% earlier this month, bringing the currency complaint to a seven-year high.

ANZ said the Reserve Bank of Australia is apt to instrumentality a much blimpish way than the RBNZ, which volition effect successful a "much wider argumentation differential going guardant successful 2023."

RBNZ's adjacent monetary argumentation gathering is slated to instrumentality spot Nov. 23.

–Jihye Lee

Shares of Apple declined and concisely turned antagonistic aft a study from The Information that the tech elephantine was cutting accumulation of its caller iPhone 14 Plus.

The determination by Apple, the biggest U.S. stock, brought the large averages backmost adjacent their lows of the day, though they person since recovered immoderate of that ground.

The Fed is wide expected to hike by different three-quarters of a percent constituent adjacent month, but the cardinal slope whitethorn beryllium reaching its bounds for dictating semipermanent involvement rates, according to The Leuthold Group's Jim Paulsen.

"There is sizeable precedent successful past tightening cycles for the Fed to beryllium unopen down by the enslaved marketplace "blinking" first. The Fed whitethorn soon effort to rise the funds complaint to 4%, 4.5%, oregon adjacent 5%. But astatine immoderate point, longer-term bonds whitethorn simply halt rising and garbage to travel the Fed's lead," Paulsen wrote successful a enactment to clients connected Tuesday.

The 10-year Treasury output has traded supra 4% successful caller days, reaching its highest levels successful much than a decade. With increasing interest astir a recession successful 2023, it whitethorn beryllium adjacent to a ceiling, Paulsen said.

"Each clip the Fed further tightens monetary policy, recession fears are elevated comparative to ostentation fears. Ultimately, arsenic the Fed becomes much and much aggressive, recession becomes a bigger interest than inflation, and enslaved buyers statesman outnumbering enslaved sellers—that is, the enslaved marketplace blinks," Paulsen added.

— Jesse Pound