Asian markets decline as investors digest Chinese industrial data and Australian inflation numbers

The BoJ’s board was divided on when the Bank of Japan should start raising interest rates, according to minutes of its July monetary policy meeting.

This was in light of 15 consecutive months of inflation rising above the Bank of Japan’s 2% inflation target.

“There is still a long way to go before the negative interest rate policy is reviewed, and the yield curve control framework must be maintained,” one member said.

However, another member noted that achieving 2% in a “sustainable and stable manner” appears to be “clearly on the horizon” and that it will be possible to assess whether the BOJ will achieve this target in the January-March period next year. .

– Lim Hui Ji

India’s growth prospects have seen many big-name investors and banks turning bullish on the country, but portfolio manager Kamil Dimesh says he is staying away from that.

“We’re probably in the minority here [and] “We don’t mind being in the minority,” North South Capital’s Dimic told CNBC Pro Talks last week.

Instead, he unveiled an emerging market that he says offers “great value” with two of his favorite stocks.

CNBC Pro subscribers can read more here.

– Amala Balakrishner

Hong Kong’s trade declined at a slower rate in August, with imports and exports falling by 0.3% and 3.7% year-on-year, respectively.

This compares to July’s decline of 7.9% for imports and 9.1% for exports.

Total trade for August was HK$742.18 million, down 2% year-on-year.

– Lim Hui Ji

K-pop is a music phenomenon that extends far beyond South Korea – and for investors wanting to take advantage, there are only a few major agencies behind the more than 300 bands.

Bokyung Suh, director and senior research analyst at Bernstein, is bullish on one in particular and shares the main reason behind his outperform rating on the stock.

CNBC Pro subscribers can read more here.

– Lim Hui Ji

Tuesday’s sell-off pushed the Dow Jones Industrial Average below its 200-day moving average, a key long-term technical level. The move suggests that the benchmark index’s long-term momentum may be waning.

The Dow Jones has not closed below this level since May.

-Fred Imbert

Losses for the three major indexes accelerated Tuesday morning after disappointing economic data.

The S&P 500 fell nearly 1% to 4,295, its lowest level since June 9. So far, the index is still up about 12%.

New home sales in August fell short of analysts’ expectations and also fell 8.7% from July, according to the Commerce Department. The Conference Board’s Consumer Confidence Index also came in below expectations, falling to 103 in September from 108.7 in August.

Comments by JPMorgan Chase CEO Jamie Dimon, in which he predicted there was additional room to raise interest rates, sent shares lower earlier this morning.

—Lisa Kailai Hahn, Jeff Cox

The last few strong months for oil prices have put crude on track for its best quarter in more than a year.

With just days left in a month and a quarter of trading, both WTI and Brent are on pace for their first straight month of price gains. This means that if this continues, the price of both will rise every month of the third quarter.

West Texas Intermediate crude oil rose about 26.1% since the beginning of the quarter, while Brent rose about 23.8% in the same period. With these developments, both are on track to record their best quarters since Q1 in 2022.

-Alex Haring, Gina Francola

Tesla shares fell more than 1% after a European Union trade official told the Financial Times that the company, along with other automakers in Europe that export from China, will face an investigation into whether electric car makers are providing unfair subsidies.

“Strictly speaking, this is not only limited to Chinese brand electric cars, but could also include cars of other producers if they receive subsidies from the production side,” EU Executive Vice President Valdis Dombrovskis told the Financial Times.

-Fred Imbert