Asia-Pacific markets fall; Oil price increase of 2% with possible OPEC+ supply cut

Asia-Pacific markets fall;  Oil price increase of 2% with possible OPEC+ supply cut
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ANZ sees a significant chance of an OPEC+ cut of up to 1 million barrels per day

Ahead of an OPEC+ meeting on Dec. 10, ANZ sees a “significant chance of a cut” of up to 1 million barrels a day, analysts at the company said in a note.

This move is likely being taken “to counteract the excessive bearishness in the market.”

The note added that any production cuts below 500,000 barrels per day “would be dismissed by the market.”

– Jihye Lee

CNBC Pro: Investment Pro Says ETFs Are a $10 Trillion Opportunity – Revealing Areas of “Enormous” Value

Exchange-traded funds offer the benefit of diversification, says Jon Maier, chief investment officer at Global X ETFs. He said the ETF market is “growing exponentially” and estimates it’s worth at $10 trillion.

He lists several options for ETF investors in this volatile market.

Pro subscribers can read more here.

– Zavier Ong

Business confidence among major Japanese manufacturers is deteriorating

Sentiment among major Japanese manufacturers deteriorated in the July-September quarter, according to the Bank of Japan’s latest Quarterly Tankan Business Sentiment Survey.

The headline index for sentiment from major manufacturers was 8, down from 9 in the previous quarter. Economists polled by Reuters expected a reading of 11.

“Our expectation and market expectations were for manufacturing values ​​to recover – supply conditions had improved, you’ve seen the easing impact of China’s zero Covid policy on supply, commodity prices have come down a bit,” said Stefan Angrick, a senior Economist at Moody’s Analytics.

“The fact that the manufacturing side of the economy isn’t doing so well certainly doesn’t bode well for the outlook,” he told CNBC’s Squawk Box Asia.

But the non-manufacturing index rose slightly, which could mean Japan’s late-stage Covid recovery is gaining momentum, he added.

– Abigail Ng

CNBC Pro: The five global stocks experiencing the de-globalization trend, according to HSBC

New research from HSBC says supply chains, geopolitical tensions and deteriorating financial conditions have forced many global companies to “essentially” turn inward in search of stable revenues and growth.

In a difficult economic environment with recessionary pressures, the bank said an inward turn was “probably helpful” for these stocks.

The report, titled “A wave of de-globalisation?” said foreign sales of European companies fell below 50% in 2021, the lowest level in five years.

Oil prices are rising on reports of a planned OPEC+ production cut

CNBC Pro: Should investors flee stocks? Strategists offer their opinions – and how to trade the volatility

With monetary policy set to tighten further in the coming months and Wall Street sinking into the depths of a bear market chasm, many investors are wondering if now is the time to exit the stock market and switch their money to other asset classes.

CNBC Pro spoke to market watchers and scoured investment bank research to find out what the pros think.

Pro subscribers can read more here.

– Zavier Ong

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