China grants licenses to imported games, South Korean gaming stocks climb
of China National Press and Publications Authority (NPPA) 44 imported games were licensed, marking a departure from China’s longstanding freeze on new licenses.
Shares of South Korean game developers rose in Asian trade on Thursday.
Netmarble rose more than 17%, Kakao Games 5.81% – NCSOFT and Nexon rose 3.34% and 4.38% respectively. Stocks listed in Hong Kong NetEase Declined 2.97%, Tencent rose 2.2%.
– Lee Ying Shan
Bank of Japan announces unplanned bond purchases
According to an announcement, the Bank of Japan announced two unplanned rounds of purchases of Japanese government bonds in an effort to curb upward pressure on yields.
The central bank offered to buy an unlimited amount of two- and five-year notes at a fixed rate — and another offer to buy 600 billion yen ($4.5 billion) of one-to-10-year bonds, it said.
This is an addition to it Latest notification for purchase of JGBs 0.5% on every business day from December 20.
The 10-year JGB yield was last down 0.22% to 0.465%. Bonds move inversely with price.
The central bank last week widened the yield curve tolerance 10-year JGBs up 0.5% on either side of its 0% target from the previous range of 0.25%.
– Lee Ying Shan
South Korea’s retail sales fall for third straight month, industrial production recovers
South Korea’s November retail sales fell 1.8% on a year-on-year basis, falling further after seeing a 0.2% drop in October, government data showed.
Meanwhile, its industrial production rose 0.4% for the month, recovering slightly after seeing four months of declines earlier.
South Korea is expected to release its consumer price index on Friday, in which economists polled by Reuters expect inflation to rise another 5%.
– Jihye Lee
Oil prices fall as confidence in China reopens
Oil prices ease slightly as Covid cases rise in China Strain on medical resources The reopening of the country and the fuel demand perspective will inspire confidence.
Brent crude futures A barrel was down 0.46% at $82.88. Similarly, the American West Texas Intermediate It was down 0.49% to $78.58 a barrel.
“Even China’s reopening narrative may be confounded by the reported Covid breakout in China,” Mizuho Bank’s Vishnu Varadhan wrote in a note, adding that its reopening should not be mistaken for “prolonged immunity” from global recessionary risks.
– Lee Ying Shan
Shares of Apple’s Asian supplier tech giant fell after hitting a new low
Italy makes Covid tests mandatory for travelers from China: Reuters
Italy will need it All incoming passengers To be carried out from China Covid testsReuters reported Milan’s health minister as saying that almost 50% of passengers on two flights from China had tested positive.
Reuters reported that it did not specify what measures would be imposed on visitors who test positive.
Separately, Britain is considering following suit after the US announced mandatory screening of those arriving from China. telegram reported.
– Lee Ying Shan
CNBC Pro: Tech ‘down, but not by any means’ – Watch for these stocks in 2023, fund manager says
It’s been a bad year for tech companies, and many investors are wondering when tech stocks will bounce back.
Jeremy Gleeson, technology fund manager at AXA Investment Managers, told CNBC Pro Talks last week that he’s still bullish on the sector.
He explains why and names stocks to buy.
CNBC Pro subscribers can read more here.
– Weissen Don
Crypto exchange Kraken to shut down Japan operations
Digital currency exchange Kraken announced the cessation of operations Next month in Japan, Jan. Deregister with Japan’s Financial Services Agency on 31, 2023.
The exchange cited a confluence of “current market conditions in Japan” and a “weak crypto market globally” as reasons behind its move.
The decision is part of Kraken’s efforts to “prioritize resources and investments. [its] It will position Kraken for strategic and long-term success.”
Bitcoin Last traded at $16,571.12, down 0.64% in the last 24 hours. Currency Measurements. Ether It was down 1.18% to $1,193.34.
– Ryan Brown, Lee Ying Shan
A negative Covid test will be required from China travelers to the US
Air travelers entering the United States from China a A negative covid testThe central health authority announced on Wednesday.
The rule comes into effect on January 5 and applies to all travelers from China, Hong Kong and Macau who are at least two years old. The rule applies regardless of nationality or vaccination status.
After attempting a zero-Covid policy longer than other major countries, China is now seeing a wave of infections after it rolled back its public health restrictions in recent weeks.
– Jesse Pound
Apple breaks a key technical level and sets a new 52-week low
Apple It broke the key $129 level and set a new 52-week low on Wednesday for the second day.
Some analysts see Apple, the largest market cap share, as a bellwether for the overall market and a major influence on investor sentiment.
“It’s not great for the market as a whole,” said Todd Sohn, technical analyst at Strategas. “The end of the year is a fun time, but if it continues through the first two weeks of the year, it’s real.”
Apple lost support at $129 in early trading Wednesday and fell to $126.41 before reversing. The stock was at $127.15 in afternoon trading.
“If your biggest weight is weakness and creating new flaws, it’s not great. Your best player isn’t scoring,” he said. Sohn said the five biggest market cap names are still losing steam. “The silver lining is that the impact on the (S&P 500) index is diminishing.”
CNBC Pro: China eases its Covid restrictions This could spell a buying opportunity in these stocks
The reopening of the world’s second-largest economy could offer investors a chance to buy as China eases its Covid restrictions.
Investors took the latest developments as a signal to start beating China stocks. They expect China’s economy could get a boost in 2023, while the US and Europe deal with the lingering effect of monetary tightening that could hamper economic growth.
“A lot of institutional investors are very underweight Chinese stocks,” said Carlos Azilis, co-founder and CIO of Clovista Investments.
“I think that’s a mistake because it ignores this very important potential base case that’s being priced right now, which is that the Chinese economy is on a similar recovery path next year that we saw this year. The United States,” he added.
CNBC Pro subscribers can read the full story here.
– Sarah Min