Hong Kong shares gained more than 5% as Asian markets rise after US inflation report

SoftBank is expected to post a net profit in the next quarterly earnings.

The median forecast expects the Japanese giant to report an annual net profit of 2.769 trillion yen ($19.5 billion) for the second quarter ended September 30, according to a survey by Refinitiv.

The company published Two consecutive quarterly net losseswith a net loss of 3.16 trillion yen in the first quarter ended June 30 and a net loss of 2.1 trillion yen in the fourth quarter ending March 30.

– Lee Ying Shan

Shares of Chinese technology companies listed on the Hong Kong Stock Exchange emerged in the early Asian trade as the broadest Hang Seng Index More than 6% was added briefly.

tech giants Ali Baba And the JD.com They rose 7.94% and 10%, respectively. Tencent Added 9.16% and Mituan 12.26% profit.

– Lee Ying Shan

The Japanese Yen And the Chinese yuan Hovering around strong levels after the US dollar index It fell more than 1% overnight on a weaker-than-expected inflation report.

The Japanese yen stood at 141.63 against the dollar, hovering around the strongest levels seen in two months before easing back after 150 in October.

The local yuan was around 7.18, and is also trading near its strongest level against the dollar in nearly a month.

– Jie Lee

Bitcoin drops 75% from all-time high, cryptocurrency exchange in range On the verge of bankruptcy. In such an environment, a bond fund manager reveals the one thing that is needed for prices to rise.

Michael Hoyle of Cross Border Capital also said that due to the lack of the catalyst, there is an increased risk of investors entering “a bit early”.

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– Ganesh Rao

US Consumer Price Index – a broad measure of inflation – it rose 0.4% in October compared to the previous month. On an annual basis, the consumer price index rose 7.7%.

Economists polled by Dow Jones expected a monthly gain of 0.6% and a year-over-year gain of 7.9%.

Excluding volatile food and energy costs, core CPI rose 0.3% for the month and 6.3% year over year, compared to related estimates of 0.5% and 6.5%.

– Jeff Cox

The US dollar fell on Thursday against a basket of other currencies as investors cheered the weaker-than-expected October CPI report, indicating that inflation may have peaked.

The dollar index is down 2%, putting it on track for its worst daily performance since December 4, 2015. If the index drops more than 2.1%, it will reach levels not seen since 2009.

This week, the dollar index is down 2.3% and is on track for its worst week since March 2020.

– Carmen Renick

President Joe Biden is expected to discuss Russia’s war in Ukraine with Chinese President Xi Jinping next week in a face-to-face meeting.

The meeting between the two leaders is the first since Biden took over the presidency of the United States. It will be held before the G20 summit in Bali, Indonesia.

“I think the president will be honest and direct with President Xi about how we see the situation in Ukraine with Russia’s war of aggression,” a senior Biden administration official told reporters in a phone call.

“This is a topic that President and President Xi have talked about several times before. They talked about it extensively in March in their video call and then talked about it again in July, so it is part of an ongoing conversation between the two.” The official, who spoke on condition of anonymity, added the official, who spoke on condition of anonymity. “.

– Amanda Macias