February 3, 2023

Brighton Journal

Complete News World

Asia markets are falling as Japan’s core inflation rate is at its highest level in more than 40 years

TSMC is in talks to build Europe’s first chip factory: Financial Times

Taiwan Semiconductor Industry Corporation. is in talks with suppliers to build the first European chip plant in Dresden, Germany, financial times reported, citing people familiar with the matter.

The company will reportedly send senior executives to Germany to discuss levels of government support and the local supply chain. The report said the factory aims to focus on 22nm and 29nm chip technologies.

Shares of the Taiwan-listed company traded down 2.8% in Asian trade on Friday.

– Jihe Lee

TSMC is in talks to build Europe’s first chip factory: Financial Times

Taiwan Semiconductor Industry Corporation. is in talks with suppliers to build the first European chip factory in Dresden, Germany, financial times reported, citing people familiar with the matter.

The company will reportedly send senior executives to Germany to discuss levels of government support and the local supply chain. The report said the factory aims to focus on 22nm and 29nm chip technologies.

Shares of the Taiwan-listed company traded down 2.8% in Asian trade on Friday.

– Jihe Lee

US Secretary of State Blinken talks with Wang Yi

US Secretary of State Antony Blinken spoke with his Chinese counterpart Wang Yi and they discussed Russia’s war on Ukraine, the situation in COVID, and bilateral relations between the US and China.

“The Secretary discussed the need to maintain open lines of communication and to responsibly manage US-PRC relations,” US spokesperson Ned Price said. he said in a statement.

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“It is very important to maintain open channels of communication,” Blinken said in a Twitter post.

a Recitation of the meeting from the Chinese Foreign Ministry He added that the two also discussed issues related to Taiwan.

– Lee Ying Chan

Core inflation rates in Singapore and Malaysia remained unchanged

Singapore core inflation Print rose 5.1% in November On a year-over-year basis, unchanged from the October number.

The reading was higher than estimates in a Reuters poll predicting a 5% increase, driven by moderate increases in utility and electricity costs, according to the Ministry of Trade and Industry.

The ministry said that inflation is expected to remain high in the first half of 2023 before “slowing down more markedly”.

in Malysia, Its core consumer price index November also remained unchanged at 4% year-on-year, beating expectations of 3.9%.

– Lee Ying Chan

The minutes showed that the Bank of Japan signaled its policy change in October

The Bank of Japan hinted at an upcoming policy shift during its October monetary policy meeting, Session minutes From their meeting on October 27 and 28 showed.

“It is important to continue to study how future exit strategies will affect the market and whether market participants will be well prepared for them,” one member noted.

The minutes showed that members of the central bank’s monetary policy board highlighted the need for its long-standing dovish stance, noting the need to “pay attention to the side effects of monetary easing.”

“It was necessary to modestly study the impact of price hikes on household behavior and wages,” she said.

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– Jihe Lee

Bloomberg: China is eliminating quarantine requirements for international travelers

China plans to eliminate quarantine requirements for foreign travelers next month, bloomberg It was reported, quoting sources familiar with the matter.

The report said that international arrivals to mainland China will only need to complete three days of health monitoring, which has yet to be officially determined.

This will replace the guidelines that would be placed in the quarantine hotel or isolation facility.

Travelers are currently required to self-quarantine five days In a hotel or isolation facility, followed by three days of isolation at home.

Li Ying Chan, Evelyn Cheng

Oil prices rose due to an expected decline in Russian crude exports

Oil prices rose on expectations of a 20% drop in Russian oil exports in December, he said Reuters accounts.

Brent Crude futures rose 0.72% to $81.56 a barrel, while US futures rose Midwest Texas Futures were trading 1.01% higher at $78.27 a barrel.

An expected drop in Russian crude exports is seen as adding pressure to rising demand for heating oil as part of US preparations. winter storm.

– Lee Ying Chan

Japan’s core inflation rate is at its highest level in 40 years

CNBC Pro: The Technology Fund Manager supports these two stores of software and will outperform in a slump

Automation and cost cutting at many companies during the recession will boost profits at two Silicon Valley companies, according to technology fund manager Jeremy Gleeson.

Gleason, who manages a $1.5 billion technology fund at AXA, believes that if there is a recession next year, “companies will need to do more with less.”

“One way they can do this is by making better use of technology to enhance the productivity of their existing workforce,” he said.

CNBC Pro subscribers can read more here.

– Ganesh Rao

Stocks closed lower on Thursday

Stocks closed lower on Thursday, after pulling back from session lows, as year-end selling resumed on Wall Street.

The Dow Jones Industrial Average fell 348.99 points, or 1.05%, after falling as much as 803.05 points earlier in the session. The S&P 500 fell 1.45%, while the Nasdaq Composite fell 2.18%.

– Sarah Maine

CNBC Pro: Strategist says buying Peloton and similar growth stocks is ‘absolute nonsense’

High-growth technology stocks are unlikely to rebound after the Fed’s interest rate “pivot”, according to a market strategist.

CNBC Pro subscribers can read Why Peter Toogood, chief investment officer of the Embark Group, thinks stocks like peloton It is “complete nonsense” trading for investors.

– Ganesh Rao