Asian markets reverse losses and rise as investors digest China industrial data, Australian inflation figures

During the first eight months of the year, Benefits of Chinese industrial companies. continued a double-digit decline, but the pace of declines eased slightly in August.

Profits fell 11.7% year-on-year through August, a smaller contraction than the 15.5% drop in the first seven months.

China’s National Bureau of Statistics said industrial enterprise profits rose 17.2% year-on-year in August, marking the first monthly growth since the second half of 2022.

-Lim Hui Jie

Shares in a British chip designer will soar more than 100% in the next 12 months, according to Jefferies

The investment bank believes the company is designing chips for large American technology companies, which is expected to increase their profit margins.

The chip stock is also seen as “one of the biggest potential beneficiaries” of the growing trend in artificial intelligence applications.

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—Ganesh Rao

Hong Kong trade declined at a slower pace in August, with imports and exports falling 0.3% and 3.7% year-on-year, respectively.

This compares to July’s drop of 7.9% for imports and 9.1% for exports.

Total trade in August amounted to 742.18 million Hong Kong dollars, a year-on-year drop of 2%.

-Lim Hui Jie

India’s growth prospects We’ve seen many big-name investors and banks turn bullish on the country, but portfolio manager Kamil Dimmich says he’s staying away.

“We’re probably a minority here (and) we don’t mind being a minority,” North of South Capital’s Dimmich told CNBC. Professional talks last week.

Instead, he revealed an emerging market that he says offers “great value,” with two of his favorite stocks.

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—Amala Balakrishner

K-pop is a musical phenomenon that extends far beyond South Korea, and for investors who want to cash in, there are only a few major agencies behind its more than 300 groups.

Bokyung Suh, director and senior research analyst at Bernstein, is bullish on one of them in particular and shares a key reason behind his outperform rating on the stock.

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-Lim Hui Jie

Tuesday’s selloff pushed the Dow Jones Industrial Average below its 200-day moving average, a key long-term technical level. The move suggests the benchmark index’s long-term momentum could be waning.

The Dow hasn’t closed below that level since May.

—Fred Imbert

All three major indices accelerated their losses Tuesday morning following the release of disappointing economic data.

He S&P 500 fell about 1% to 4,295, its lowest level since June 9. So far this year, the index is still up almost 12%.

New home sales in August fell short of analyst expectations and were also down 8.7% from July. according to the Department of Commerce. He Conference Board Consumer Confidence Index It also missed expectations, falling to 103 in September from 108.7 in August.

Comments made by JPMorgan Chase CEO Jamie Dimon anticipating additional room for rates to rise also sent stocks tumbling this morning.

—Lisa Kailai Han, Jeff Cox

A strong last few months for oil prices is putting crude on track for its best quarter in more than a year.

Just a few days into the trading month and quarter, both West Texas Intermediate and Brent Crude oil is on track to post its first consecutive month of price gains. That means that, if it holds, both will have risen in price every month of the third quarter.

WTI has gained about 26.1% since the quarter began, while Brent has risen about 23.8% in the same period. With those gains, both are on track to post their best quarters since the first quarter of 2022.

—Alex Harring and Gina Francolla

tesla Shares fell more than 1% after a European Union trade official told The Financial Times that the company, along with other carmakers in Europe that export from China, will face an investigation into whether electric vehicle makers They receive unfair subsidies.

“Strictly speaking, it is not limited only to Chinese-branded electric vehicles, but may also affect vehicles from other manufacturers if they receive production subsidies,” said EU Executive Vice President Valdis Dombrovskis. Heist.

—Fred Imbert