An hour ago
Inflation rate in Malaysia falls to its lowest level since March 2021
Malaysia’s consumer price index rose 1.9% in September from a year earlier, less than the 2% in August and also less than the 2.2% expected in a Portal poll.
This is the lowest inflation rate the country has seen since March 2021. Malaysia has also not seen an increase in its inflation rate for 13 months in a row.
On a monthly basis, the consumer price index rose 0.1% in September, slightly less than the 0.2% increase recorded in August.
—Lim Hui Jie
4 hours ago
CNBC Pro: Should you lock in these big returns now? Here’s what Wall Street says and how to invest
5 hours ago
The Indonesian central bank wants to cushion the rupiah with a surprise interest rate hike
Bank Indonesia unexpectedly raised interest rates on Thursday to stave off the rupiah’s decline.
The Indonesian rupiah traded 0.5% lower against the dollar on Thursday, after losing nearly 2% this year.
Indonesia’s central bank raised the benchmark seven-day reverse repo rate by 25 basis points to 6%, the second increase this year. All economists polled by Portal had expected the bank to leave interest rates unchanged.
“In the face of global uncertainties, policymakers have struggled for currency stability,” said Radhika Rao, senior economist at DBS Group Research, noting that the door remains open for further policy tightening as “Indonesian policymakers face a policy dilemma, as global uncertainties outweigh recent positive domestic uncertainties.” Data results.
Inflation, trade balance and money supply data will all be released ahead of Bank Indonesia’s next monetary policy meeting in November.
—Shreyashi Sanyal
5 hours ago
China leaves key interest rates unchanged in October
China left key lending rates unchanged in October after the downturn in the world’s second-largest economy showed signs of stabilizing due to recent policy support.
The People’s Bank of China left its key one-year lending rate – the peg for most household and corporate loans in China – unchanged at 3.45%. The five-year benchmark lending rate – the rate set for most mortgages – was maintained at 4.2%, according to a statement from China’s central bank on Friday.
– Clement Tan
6 hours ago
The yield on 10-year US Treasury bonds exceeds 5 percent for the first time since 2007
The yield on the benchmark 10-year U.S. Treasury note exceeded 5 percent for the first time in 16 years.
The 10-year Treasury yield reached 5.001% at 5:02 p.m. ET, the first time it traded above this key level since July 20, 2007, when it yielded as much as 5.029%.
—Gina Francolla, Christine Wang
6 hours ago
Japan’s headline inflation rate slows to 3% in September
Japan’s headline inflation rate was 3% in September, down from 3.2% in August.
However, that reading marked the 18th consecutive month that inflation remained above the Bank of Japan’s target of 2%.
Core inflation – which excludes fresh food prices – also slowed to 2.8% from 3.1% in August.
Separately, the so-called “core-core” inflation metric, which excludes fresh food and energy prices and is monitored by the BOJ, fell to 4.2% from 4.3% in August.
—Lim Hui Jie
5 hours ago
CNBC Pro: These 6 global stocks are approaching the dreaded “death cross” chart pattern
Six global stocks appear to be on the verge of forming a so-called “death cross” chart pattern, suggesting potential selling pressure in the near term.
A death cross is a price chart pattern that occurs when a stock’s 50-day moving average crosses below the 200-day moving average. Technical analysts take this as a sign that investors are bearish on a stock, or that a stock’s momentum is fading and will continue to fall, with a buying opportunity possibly soon. The death cross is also used as a bear market prediction.
CNBC Pro subscribers can read more about these six stocks here.
– Ganesh Rao
13 hours ago
Gold appears to be “overextended in the near term” after its recent rally, according to technical analyst
Investors are taking rising gold prices as a signal that markets are risk-averse at a time of rising bond yields and the escalation of the Israel-Hamas conflict. Spot gold last traded at about $1,957.39 an ounce, up about 8% from October lows of about $1,819.
However, Fairlead Strategies’ Katie Stockton believes gold prices are “overextended in the near term” and could decline next week. It assumes that the recent rise represents a recovery from previous lows.
“Gold has really shot up this week,” Stockton said. “Everyone has been very quick to say it’s because the market is now risk averse, but I wouldn’t agree with that.”
“We have to contextualize it with what happened before this recovery rally in gold, right, that was a really sharp downturn. So gold is basically back to where it was around mid to late September,” she added. “So we have seen a round trip of gold prices.”
12 hours ago
Pharmaceutical stocks Pfizer and Moderna are among 26 new S&P 500 lows
Pharmaceutical stocks like Pfizer and Moderna were among 26 S&P 500 names that hit new lows on Thursday. Illumina shares also traded at lows not seen since December 2016.
Elsewhere, United Airlines hit lows last seen in October 2022, while Southwest Airlines traded at lows not seen since May 2020.
Here are some of the other names hitting new lows:
—Sarah Min, Gina Francolla
14 hours ago
Stock markets turn after Powell says monetary policy is not yet too restrictive
18 hours ago