Hong Kong’s Hang Seng is up 2%, sending Asia markets higher after Powell’s remarks on inflation

HSBC said in a note that the latest inflation figures in China give the People’s Bank of China scope to maintain its current monetary stance.

“The moderation in price pressures gives the People’s Bank of China some room to stay,” said senior Chinese economist Irene Shen.

Shen added that the central bank is likely to make more easy use of structural tools such as “additional re-lending quotas for focus areas such as manufacturing and green investment.”

– Jie Lee

China’s consumer price index Has risen Data from the National Bureau of Statistics showed that 2.5 percent on an annual basis in August, down from the 2.7 percent recorded in July, missing a Reuters poll forecast of 2.8 percent.

Producer prices rose 2.3% for the month, also slower than the 4.2% rise for July and a 3.1% loss forecast.

A report issued by Nomura earlier this week said 12% of China’s GDP affected by Covid controls On a weighted basis – up from 5.3% last week.

–Ji Lee

Jesper Cole, director of Monex Group, told CNBC that the depreciation of the Japanese yen is one of the “toughest” and “easiest” moves to interpret because it is “based on real fundamentals,” adding that it could fall further in the coming months.

He said it was “the most textbook-driven currency move I’ve seen in 30 years.”

Cole cited the interest rate differential between the US and Japan as one of the “strong forces” that will move the yen, adding that the chance of the Bank of Japan raising rates is “close to zero”.

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— Charmaine Yacoub

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

Two ETFs have surged in recent weeks, as the West races to reduce its dependence on Russian energy.

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– Weezin Tan

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

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

However, Citi Research Vice President of Internet and Media for China, Brian Jung, expressed optimism and said regulatory concerns about the country’s gaming industry are easing.

Referring to the government’s resumption of game licenses, Gong said “although there are fewer than expected, it shows that the environment is improving,” he said on CNBC’s “Squawk Box Asia,” adding that “the worst is behind us.”

– Jie Lee

“China’s economic recovery appears to be slower than market expectations,” Citi stock analysts said in a September 2 report.

They downgraded 12 Chinese stocks – but raised eight. Here are three arrows From their updated list of the top traded stocks in Hong Kong and mainland China to buy.

Professional subscribers can Read more here.

– Evelyn Cheng

US stock futures opened little changed after a choppy session in the major averages as Wall Street looked at 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