South Korea CPI, India PMI, Australia PMI

South Korea CPI, India PMI, Australia PMI
South Korea CPI, India PMI, Australia PMI

20 Mins Ago

Australia’s factory activity contracts at fastest pace since May 2020

Australia’s factory activity in March shrank at its fastest pace since May 2020, according to a private survey from Judo Bank.

The country’s purchasing managers’ index slipped to 47.3, down from February’s 47.8, and contracting for a second straight month.

Judo Bank wrote that “underpinning the latest downturn was an accelerated fall in new work inflows, which led to a reduction of manufacturing output.”

The bank also noted that employment and purchasing levels as well as overall business confidence declined in March.

— Lim Hui Jie

24 Mins Ago

South Korea’s inflation rate unchanged at 3.1% in March

South Korea’s inflation rate held steady at 3.1% in March, in line with expectations from economists polled by Reuters.

On a month-on-month basis, the consumer price index rose 0.1%, a slower pace compared with February’s 0.5% and Reuters expectations of a 0.3% rise.

— Lim Hui Jie

55 Mins Ago

CNBC Pro: ‘Very, very attractive’: Strategist names two under-the-radar US small cap names to play right now

Market strategist Matt Orton sees promise in small mid cap stocks this year, naming four under-the-radar companies he is bullish on right now.

“I have been optimistic around small-caps this year, and it looks like we could be on the verge of an even bigger breakout,” Orton, who is the chief market strategist at asset management firm Raymond James Investment Management told CNBC’s “Squawk Box Asia” on April 1.

Small cap players in the US stand out to him as “very, very attractive” right now, he said, naming two under-the-radar companies he likes.

CNBC Pro subscribers can read more here.

—Amala Balakrishner

55 Mins Ago

CNBC Pro: Five stocks to buy and hold for the long-term, according to the pros

Investing for the long term is no mean feat.

A longer investment period involves “looking for business models and strategies that are likely to stay for say 10, 20 or even 40 years from now,” says David Dietze, managing partner and senior portfolio strategist at Peapack Private Wealth Management.

CNBC Pro spoke to three fund managers on their stocks to buy now and hold for the longer-term.

CNBC Pro subscribers can read on their top five stocks picks here.

—Amala Balakrishner

4 Hours Ago

A ‘rare combination’ is boosting the global stock market, Bank of America says

The global economy and foreign stock markets are starting to wake up, according to Bank of America.

The US was one of the few strong economies and markets in 2023, but that appears to be changing in the new year. Quant strategist Nigel Tupper said in a note to clients that the MSCI AC World Index is up more than 7% after the first quarter and that the “global wave,” a compilation of economic indicators, is on the upswing.

Meanwhile, the Swiss National Bank lowered its benchmark interest rate last month, becoming the first of what is expected to be several major central banks to cut rates this year.

“The rare combination of improving data and easier policy is a powerful set up for global equity markets,” the note said.

—Jesse Pound, Michael Bloom

5 Hours Ago

Crypto stocks slide with bitcoin to kick off a busy quarter for digital assets businesses

Bitcoin fell to start the new month and quarter, dragging crypto equities down with it.

The price of the cryptocurrency was last lower by 3.5% at $68,477.88, according to Coin Metrics, as Treasury yields jumped and the dollar rose, following data that showed growth in the manufacturing sector for the first time since September 2022.

Crypto exchange Coinbase and software provider MicroStrategy, which largely trade as a proxy for the price of bitcoin, each fell about 5%. The largest mining stocks, Marathon Digital and Riot Platforms, lost 5% and 6%, respectively. CleanSpark, one of the best-performing miners this year, slid 10%.

April could be tumultuous for crypto-related stocks. Investors are looking toward the bitcoin halving, which will slash the reward and therefore revenue of bitcoin miners, in the second half of the month. The event could hurt the performance of miners but historically has set bitcoin up for rallies of 300% or more in the months that follow.

For more on what to expect in the weeks ahead, read our Q2 crypto outlook here.

— Tanaya Macheel

6 Hours Ago

Oil prices rise amid reports Iranian consulate hit by missile strike in Damascus

Crude oil futures rose on the first day of second-quarter trading Monday amid reports that the Iranian consulate in Damascus was hit by a missile strike.

The West Texas Intermediate contract for May delivery gained $1.28, or 1.54%, to $84.45 a barrel. The Brent contract for June delivery added 93 cents, or 1.07%, to $87.93 a barrel.

Syrian and Iranian state media said Monday that an Israel missile strike hit the Iranian consulate in Damascus. A Lebanese security source told Reuters that a senior commander in Iran’s Revolutionary Guard Corps, Mohammad Reza Zahedi, was among the dead.

“This news, if confirmed, is a clear escalation of conflict in the Middle East and is likely to continue to bolster near-term oil prices,” Leo Mariani, an analyst with Roth MKM, told clients Monday.

The article is in Dutch

Tags: South Korea CPI India PMI Australia PMI


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