Asia-Pacific markets trade less; China keeps LPR steady

China has kept its key lending rates on hold as expected

China left its benchmark lending rate unchanged for the third consecutive month, the People’s Bank of China said in a statement.

The one-year loan prime rate is 3.65% and the five-year interest rate is 4.3%.

– Off Abigail

South Korea’s exports fell further in the 20 days since November

South Korea’s exports fell 16.7% on an annual basis for the 20 days to November, with demand from China lagging behind. information From Customs.

The decline in exports was a sharp drop from the 5.5% decline seen in October compared to the same period a year ago.

Imports also fell 5.5% for the first 20 days of November, resulting in a slight improvement in the trade deficit — $4.4 billion for the period, compared with a $4.9 billion deficit recorded in October.

A total of $40 billion was reported in the trade deficit across the country, according to the agency’s figures.

– Jihye Lee

CNBC Pro: Morgan Stanley’s Mike Wilson predicts S&P 500 bottom, calls it a ‘fantastic buying opportunity’

Mike Wilson, chief US equity strategist at Morgan Stanley, said we are in the “end phase” of a bear market, but the situation will remain challenging for some time to come.

He predicts when — and at what level — the S&P 500 will hit “new lows.”

CNBC Pro subscribers can read more here.

– Weissen Don

China will keep its key lending rates steady, according to a Reuters poll

CNBC Pro: Chinese tech stocks like Alibaba ‘deeply overvalued’, strategist says

Like the 30% decline in the value of Chinese big tech stocks this year Ali BabaThat makes them “incredibly cheap,” according to investment bank China Renaissance.

Its head of equities, Andrew Maynard, believes that not only does the stock market appear to be bottoming out, but investors may miss out on a rally if they are underweight in China.

“Without a shadow of a doubt, being underweight China will cost you going forward,” Maynard said.

CNBC Pro subscribers can read more here.

– Ganesh Rao

Markets are eyeing Fed hikes and more clues on the economy in the coming week

Investors may be a bit more cautious next week, as stocks seek direction in quiet trade and bond market warnings of a recession grow louder.

The Thanksgiving holiday on Thursday means markets will be quiet on Wednesday and Friday. Marketers will monitor reports about Black Friday holiday shopping for consumer sentiment.

“It’s really been a week of data bias,” said Julian Emanuel, senior managing director of Evercore ISI. [for stocks] As long as the data continues to deteriorate and the central bank remains on its hawkish side, it will be higher… This has clearly been reinforced in the last 48 hours.”

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Check out our full deep dive on what to expect in the coming week Here.

– Buddy Dome, Tanaya Machel

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