Asia Pacific markets were mixed as investors weigh the risks

CNBC Pro: Amazon Is Down 40% This Year — Is It Time To Buy? Market professionals have their say

Once upon a time dear Wall Street, Amazon It lost some of its luster this year. The e-commerce giant’s stock is down more than 40%, far underperforming Standard & Poor’s 500which fell by about 15% in the same period.

Is it time for investors to pile up again? Two Market Professionals Face Off on CNBC”street signs asiaThursday to make an argument for and against buying the stock.

CNBC Pro subscribers can read more here.

– Xavier Ong

Baidu and Kuishu shares decline ahead of the earnings report

A survey by Refinitiv showed that Baidu is expected to see a slight decline in revenue in the third quarter of 2022.

The company is expected to see revenue drop 0.05% to 31.904 billion yuan ($4.46 billion) in the July-September period, down from 31.92 billion yuan from the same period last year.

Meanwhile, Tiktok rival Kuaishou is expected to see revenue grow 10.2% for the third quarter to 22.58 billion yuan, according to a separate survey on Refinitiv — which would be the slowest pace of annual growth since the company began reporting earnings.

Hong Kong shares listed quicho fell 4.1% before earnings, while Baidu The shares fell 0.44% in the morning session.

– Jihe Lee

CNBC Pro: Inflation poised to slide, Morgan Stanley’s Wilson says, but warns of ‘new era’ ahead

Watch the full CNBC interview with Morgan Stanley's Mike Wilson

Mike Wilson, chief US equity strategist at Morgan Stanley, said he expects a “very sharp drop in inflation,” and predicts when this could happen.

But he said there are two areas of exception, where inflation could be “more persistent”.

CNBC Pro subscribers can read more here.

– Wizen tan

Oil prices have stabilized after reaching their lowest levels since January

Oil prices were little changed in the Asian morning after hitting their lowest levels since January on Monday.

American Crude It was partially higher at $80.08 a barrel, after touching $75.08 in Monday’s session.

Brent crude It rose slightly to $87.52 per barrel. It reached $82.31 in the previous session.

Oil futures fell briefly on Monday after the Wall Street Journal reported that OPEC+ is considering increasing supply by 500,000 barrels per day. Saudi Arabia later disputed this report.

– Abigail Ng

Singapore authorities explain why FTX is not on their alert list

The Monetary Authority of Singapore (MAS) said cryptocurrency exchange FTX was not on its investor alert list because it was not “actively attracting users in Singapore” unlike rival Binance.

MAS said that there is a “clear distinction” between FTX and Binance in terms of targeting local users, according to statement Released Monday afternoon.

“Binance has in fact gone so far as to offer listings in Singapore dollars and accept Singapore-specific payment methods such as PayNow and PayLah,” it said in the statement, adding that it received numerous complaints about Binance between January and August last year.

MAS continued to stress the risks investors face when trading digital assets.

“The most important lesson from the FTX debacle is that dealing in any cryptocurrency, on any platform, is dangerous,” she said, adding that even licensed cryptocurrency exchanges in Singapore would only be regulated to address money laundering risks, not to provide protection. for investors.

“As MAS has repeatedly stated, there is no protection for customers who deal in cryptocurrencies. They can lose all their money,” she said.

Jihe Lee

Stocks fell on Monday to start a short holiday week

Stocks fell on Monday in a choppy trading session to kick off the short holiday week.

The S&P 500 fell 0.39% to 3949.94 and the Nasdaq Composite fell 1.09% to end the day at 11024.51. The Dow Jones Industrial Average fell 45.41 points, or 0.13%, to 33,700.28, although losses on the index were mitigated by a jump in Disney which rose more than 6%.

Disney jumped in after the company announced that former CEO Bob Iger would replace Bob Chapek.

– Carmen Renick

Leave a Comment