Hong Kong’s Hang Seng rose 2%, lifting Asian markets after Powell’s inflation comments

HSBC says China’s latest inflation readings allow the PBOC to maintain accommodative monetary policy

China’s latest inflation figures leave room for the People’s Bank of China to maintain its current monetary stance, HSBC said in a note.

“The moderation in price pressures gives the PBOC room to accommodate,” said Erin Chin, chief China economist.

Xin added that the central bank would ease further using structural tools such as “additional re-credit allocations to focus areas such as manufacturing and green investment”.

– Jihye Lee

China’s consumer price index rose 2.5% in August, missing estimates

China’s Consumer Price Index is high August’s 2.5% year-on-year growth was lower than the 2.7% figure recorded in July, data from the Bureau of National Statistics showed, and a Reuters poll missed 2.8%.

Producer prices rose 2.3% for the month, slower than the 4.2% rise in July and missing the 3.1% estimate.

Nomura’s statement earlier this week said 12% of China’s total GDP has been affected by Covid restrictions By weight – last week it was 5.3%.

Jihye Lee

The worst is not over for the Japanese yen, analyst says

The depreciation of the Japanese yen is one of the “toughest” and “easy” moves because it is “based on real fundamentals,” Jesper Koll, director of Monex Group, told CNBC, adding that it could slide further in the coming months.

This is the most “textbook-driven currency action” I’ve seen in 30 years, he said.

Koll pointed to the interest rate differential between the U.S. and Japan as one of the “powerful forces” moving the yen, adding that the chance of the Bank of Japan raising rates is “close to zero.”

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-Charmine Jacob

CNBC Pro: Uranium is ‘on a tear’ right now. Here are two ETFs to play it

One key area of ​​the commodity market – uranium – has been a bright spot over the past month, outperforming the broader energy sector.

Both ETFs have rallied in recent weeks as the West struggles to reduce its reliance on Russian energy.

Pro subscribers can read more here.

– Weissen Don

Bilibili fell 16% at the open after reporting a second-quarter loss

Hong Kong-listed shares of a Chinese video and gaming company Bilibili It fell more than 16% at the open overnight after reporting a second-quarter earnings miss.

The company reported a net loss of more than $300 million Almost double the amount of loss recorded during the same period a year ago.

Brian Kang, vice president of China Internet and Media at Citi Research, was optimistic, saying regulatory concerns in the country’s gaming industry are easing.

Pointing to the government’s resumption of gaming licenses, Kang said, “Although their number is lower than expected, it shows the environment is improving,” he told CNBC’s “Squawk Box Asia,” adding that “the worst is behind us.”

– Jihye Lee

CNBC Pro: Citi has currently upgraded eight Chinese stocks

US stock futures are little changed

U.S. stock futures opened little changed following a choppy session in the major averages as Wall Street weighed the pace of future interest rate hikes.

Dow Jones industrial average futures rose 23 points, or 0.07%. S&P 500 and Nasdaq 100 futures rose 0.08% and 0.13%, respectively.

– Sarah Min

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