China’s National Health Commission releases guidelines for treating Covid at home
This was announced by China’s health authorities Guidelines for treating Covid patients at home on Thursday, a day after formalizing a policy allowing most infected patients in home quarantineas part of easing measures in the country.
The notice on the National Health Commission’s website said patients should isolate themselves in a separate room and do antigen testing themselves whenever possible.
While patients with acute symptoms should go to a hospital, the announcement included instructions for patients with milder symptoms to monitor their health at home and take medication if needed.
The commission included a list of medicines to treat Covid symptoms.
Health authorities are scheduled to hold a press conference at 3 p.m. local time.
– Abigail Ng, Evelyn Cheng
Hong Kong considering dropping mask rules for outside: report
Fitch expects property prices in Australia and China to fall in 2023
Fitch Ratings expects house prices in Australia to fall significantly by 7% to 10% over the next year, according to its latest outlook report.
The agency also forecasts that house prices in China will fall by 1% to 3% next year.
“We expect prices to fall further in 2023 before bottoming out, but mortgage performance will deteriorate only slightly amid economic headwinds,” Fitch Ratings’ Tracy Wan said in the report.
However, home prices in Japan could buck the trend to rise by 2% to 4% in 2023, the report said. Australia’s prices are expected to rise in 2024.
– Jihye Lee
Japan’s economy contracted less than expected in the third quarter
Japan’s economy posted an annualized quarterly contraction of 0.8% in the third quarter revised gross domestic product The reading beat expectations in a Reuters poll for a 1.1% contraction.
The government’s first preliminary estimate, released in November, was for a 1.2% drop.
The nation also reported a deficit of 64.1 billion yen ($469.3 million) in its unadjusted current account. government data shown. The reading fell well short of estimates for a surplus of 623.4 billion yen in a separate Reuters poll.
– Jihye Lee
Australia’s trade surplus larger than expected in October
Australia’s trade surplus was A$12.2 billion ($8.19 billion) in October, slightly higher than expected. official dates shown.
Economists polled by Reuters were forecasting a print of A$12.1 billion and expecting a further drop than reported – after the economy posted a trade surplus of A$12.4 billion.
Exports fell by 0.9% and imports by 0.7%.
– Abigail Ng
Stocks tend to close lower
Shares ended mostly lower on Wednesday, with the S&P 500 down 0.19% to close at 3,933.92.
The Dow Jones Industrial Average closed flat or 1.58 points higher to end the session at 33,597.92. The Nasdaq Composite fell 0.51% to close at 10,958.55.
— Samantha Subin
CNBC Pro: Bank of America says these two global chip stocks could soar 75% in electric vehicle sales
A shortage of semiconductors during a boom in electric vehicle sales could help boost profits at a handful of chipmakers, according to Bank of America.
The Wall Street Bank predicted that two chip stocks’ share prices could rise more than 75% on this trend.
— Ganesha Rao
Pending economic data could start a rally into next year, says Morgan Stanley’s Slimmon
Don’t be surprised if economic data released next week kickstarts a rally into year-end and possibly into 2023, according to Andrew Slimmon, senior portfolio manager at Morgan Stanley Investment Management.
The key period of data release begins on Friday with the PPI, followed by the CPI for November and another likely Federal Reserve rate hike next week.
“The last time these came out, they all rallied stock markets because we had better inflation data,” he said.
Like many investors, Slimmon anticipates an imminent downturn given the inverted yield curve, but doesn’t anticipate the “big slump in earnings” or downturn many people are predicting for the first quarter.
This is partly because many consumers have been bolstering their savings in recent years given the recent recession’s nearness.
“The message of this year is that the economy has shown far more resilience than many people are expecting and I don’t think that’s going to be the end next quarter,” he said.
— Samantha Subin
CNBC Pro: Is Apple a stock to buy or avoid? Two investors face each other
It’s been a turbulent year for tech companies as investors flee growth stocks amid rising interest rates and other headwinds.
Apple has held up better amid the tech carnage despite some headwinds.
Two investors stood at CNBC’s “Street Signs Asia‘ on Wednesday to plead for and against buying the stock.
— Wheat Tan